Lease

1- Value of vehicle is determined at outset of lease.

2- Payments are based on the selling price of vehicle, the lease end value and interest rate.

3- Taxes are paid on the monthly amount of your lease rather then on the full price of the vehicle like you would in a finance contract.(you don't pay interest on taxes in lease contract)

4- The leasing company owns the vehicle and the customer has the option to purchase.

Purchase Financing

1- With financing you borrow the amount you require for the purchase of the vehicle plus the taxes.

2- This amount plus the finance charges is typically repaid in equal monthly payments over a specific period of time.

3- The vehicle is registered in buyers name and the lender takes a lien on the vehicle for the amount of the loan.

4-  When the loan is paid in full the buyer has full ownership and is free and clear of lien.