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

Valley Auto Center
(607) 936-3249
33 Beaver Ave
Beaver Dams, NY
Auto Repair and Collision
(347) 789-4713
654 Powell St
Brooklyn, NY
Nakdima
(212) 567-1111
5030 Broadway
New York, NY
Peoples Choice Car Service
(718) 378-7800

Bronx, NY
Car Point Auto Service
(718) 996-0618
2250 McDonald Ave
Brooklyn, NY
Pak Punjab Auto Repairs
(718) 392-1140
3901 21st St
Long Island City, NY
Rainbow Private Car Svce Inc
(718) 498-9291
389 Troy Ave
Brooklyn, NY
All American Car Svc
(718) 238-4440
6201 Fort Hamilton Pkwy
Brooklyn, NY
U C Columbus Radio Dispatch Inc
(212) 316-1119
100 W 106th St
New York, NY
Howard Car Service
(718) 835-3500
6 Coleman Sq
Howard Beach, 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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