Auto Financing or Leasing Utica 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

Sals Auto Repair
(315) 368-0264
1042 Oriskany St W
Utica, NY
Montague Car Service
(718) 625-6666
866 Coney Island Ave
Brooklyn, NY
New Eastern Car & Limo Service
(718) 387-0222
100 Bushwick Ave
Brooklyn, NY
Aviv Express Car & Limo Svc
(212) 349-3400
4820 16 Ave
New York, NY
New Style Limousine Inc
(718) 472-5588
3540 30th St
Long Island City, NY
Credit Car Loan Now
(315) 235-8369
5056 Commercial Dr
Yorkville, NY
2M Auto Repair
(315) 735-8481
1108 Saint Vincent St
Utica, NY
L P J Car Svce Inc
(718) 738-1118
10419 99th St
Ozone Park, NY
Nostrand Car Svce
(718) 339-5400
2946 Avenue S
Brooklyn, NY
Keene Auto Repair
(518) 576-9095
2811 Nys Route 73
Keene, 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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