Auto Financing or Leasing Spencerport 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

Ocean Transportation
(718) 438-8700
672 E 5th St
Brooklyn, NY
A & L Auto Repair
(718) 583-3863
355 E 173rd St
Bronx, NY
Pepe Performance Cars
(914) 289-1926
40 Westmoreland Ave
White Plains, NY
Liberty Car Svce
(718) 366-6666
689 Seneca Ave
Ridgewood, NY
T & V Automotive Concepts Cap V
(516) 763-1111
198 N Long Beach Rd
Rockville Centre, NY
Lintz Dave Auto Repair
(585) 352-4700
164 Lyell Ave
Spencerport, NY
Jays Auto Repair
(718) 493-6814
496 Ralph Ave
Brooklyn, NY
Ten Point Auto Service
(718) 667-0691
105 New Dorp Ln
Staten Island, NY
Apple Car Service
(347) 663-9264
41 Brooklyn Ave
Brooklyn, NY
Tov (Too) Car & Limo Service Inc
(718) 375-8877
1811 E 7th St
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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