Auto Financing or Leasing West Islip 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

Professional Mufflers & Auto Repair
(718) 901-2520
1699 Jerome Ave
Bronx, NY
Omega Car Svce Inc
(718) 341-1777
13408 232nd St
Springfield Gardens, NY
Easy-Way Radio
(212) 923-2211
20 W 8th St
New York, NY
New Active Car & Limo Service Inc
(718) 769-7777
2939 Avenue Y
Brooklyn, NY
Bay Ridge Car Limo & Van Service
(718) 833-6667
6817 3rd Ave
Brooklyn, NY
ALLcreditfinancialservices.com,LLC
516-537-8175
Northern Blvd
Roslyn, NY
Stewart Auto Center Inc
(631) 286-1708
11 Station Rd
Bellport, NY
Jillys Car Service
(718) 853-5555
866 Coney Island Ave
Brooklyn, NY
C & D Car Service
(718) 251-7700
9104 Avenue L
Brooklyn, NY
Bamadu Car Service
(718) 723-2020
15802 Rockaway Blvd
Jamaica, 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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