Auto Financing or Leasing Stony Brook 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

Unitek Auto Center Inc
(718) 372-0202
2807 W 15th St
Brooklyn, NY
Wells Auto Repair
(518) 493-2886
395 Stratton Hill Rd
West Chazy, NY
Natanya Express Car & Limo Service
(718) 438-2200
2 Ditmas Ave
Brooklyn, NY
A1A Auto Repair
(212) 937-1195
19 W 21st St
New York, NY
Mid Hudson Limousine Svce Inc
(845) 473-5177
6 Orchard Pl
Poughkeepsie, NY
Queens Lincoln Car & Limousine Svce
(718) 886-1882
3527 Farrington St
Flushing, NY
Goodrich B F Co the
(914) 946-5015
Martine Ave
White Plains, NY
Jerusalem Car Svce Inc
(718) 522-2111
93 Atlantic Ave
Brooklyn, NY
Shea Ecuador Auto Repair
(718) 457-0007
3703 126th St
Corona, NY
Buckingham Limousine Service
(845) 369-6969
7 South St
Suffern, 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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