Auto Financing or Leasing Smithtown NY

Learning the differences between auto financing and leasing will help you decide which option is best for you. Read this article and know more.

Local Companies

Alisa Auto Service
(718) 483-9189
1247 McDonald Ave
Brooklyn, NY
Chads Auto Repair
(607) 898-3484
215 Main St
Groton, NY
McGuinness Car Svce
(718) 383-6556
158 Nassau St
Brooklyn, NY
Pop & Dj's Place
(718) 327-0202
283 Beach 15th St
Far Rockaway, NY
All In One Auto Repair
(718) 392-8294
3725 21st St
Long Island City, NY
Pam Car & Truck Rental Inc
(516) 997-0822
463 E Jericho Tpke
Smithtown, NY
Paisa 2 Car Service
(718) 335-5050
6911 48th Ave
Woodside, NY
Mexicanos Car Service
(718) 424-9696
3708 100th St
Corona, NY
1 Express Auto Repair
(718) 585-3176
508 E 164th St
Bronx, NY
Yellow Bird Auto Center Inc
(718) 621-0494
6302 16th Ave
Brooklyn, NY

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It's like buying a new pair of shoes. Everyone has an opinion on the topic, but the best advice is to scope out which is the right fit for you.

Ownership

Leasing: You do not own the vehicle. You get to use it but you have to return it when your lease ends. If your lease vehicle has a purchase option, you may be able to purchase your vehicle during the term of the lease or at lease end.

Buying: You own the vehicle and you get to keep it when you pay off the amount owed under the financing contract.

Up-front costs

Leasing: The money you pay before you take possession of the car may include the first month's payment, a refundable security deposit, a capitalized cost reduction (like a down payment), taxes, registration and other fees, and other charges.

Buying: Up-front costs include the cash price or a down payment (if you finance), taxes, registration and other fees, and other charges.

Monthly payments

Leasing: When you lease a car, you are paying only for the vehicle's depreciation during the lease term plus rent charges (like interest), taxes, and fees and charges that may be owed during the lease. This usually makes monthly lease payments lower than monthly loan or other finance contract payments.

Buying: When you finance your purchase, you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, taxes, and fees. This means that you're probably going to end up spending more on a finance monthly payment than on a lease monthly payment.


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