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

1 Express Auto Repair
(718) 585-3176
508 E 164th St
Bronx, NY
Yellow Bird Auto Center Inc
(718) 621-0494
6302 16th Ave
Brooklyn, NY
Queens Lincoln Car & Limousine Svce
(718) 762-3333
3527 Farrington St
Flushing, NY
Blackwater Auto Repair Llc
(607) 733-0096
1361 College Ave
Elmira, NY
Always There Airport Transportation Inc
(516) 742-8766
120 Denton Ave
New Hyde Park, NY
ALLcreditfinancialservices.com,LLC
516-537-8175
Northern Blvd
Roslyn, NY
Pop & Dj's Place
(718) 327-0202
283 Beach 15th St
Far Rockaway, NY
All In One Auto Repair
(718) 392-8294
3725 21st St
Long Island City, NY
Bruckner Car Service
(718) 823-5138
1929 Bruckner Blvd
Bronx, NY
San Miguel Auto Repair
(585) 254-6711
513 Lyell Ave
Rochester, NY

Provided by:

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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