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How is sales tax applied to a lease? Learn more at South Shore MINI in Rockland

There are numerous benefits to leasing a vehicle that may make the method more desirable compared to a loan. Due to a lease's shorter-term commitment, it's a great option for Quincy and Norwell drivers who prefer to enjoy the latest features and tech more often. Furthermore, leased vehicles are always under warranty, and lessees aren't responsible for depreciation. But perhaps the most compelling attribute of a lease is the lower expense (smaller monthly payments and lower tax) over the same time period compared to a loan. But how is sales tax calculated with a lease?

 

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Is leasing a better deal than buying? Learn more at South Shore Mini in Rockland, MA, near Quincy

Once you've finally found the vehicle that best fits your needs and preferences, the next step is to select how you'll pay for it. Other than paying off the car in cash upfront, your two options are leasing or financing (taking a loan)? But which method is a better fit for you? To help you in your decision, we'll give you a quick overview of the distinguishing characteristics of each.

To start, the primary difference between a lease and a loan is ownership. With financing, you will eventually own the vehicle's title, and with leasing, you…

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Why is knowing residual value important when leasing a car? – South Shore MINI in Rockland, MA

There are many benefits to leasing vs. financing when paying for your next vehicle. For example, you're not tied to a long-term commitment, can enjoy the latest features and tech more often, and will generally pay less over the same time period. However, there are a few aspects to look for when considering a lease, one of them being the vehicle's residual value. Since you're paying to use the car for a predetermined term, and the dealer will look to sell the vehicle as used after you return it, the lease payments cover the vehicle's depreciation…

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What is APR in a car loan, and how is it calculated? – Learn more about financing a new MINI at South Shore Mini, near Quincy, MA

Unless you'll be paying cash upfront, buying a new MINI car or crossover typically involves taking out a loan, which you will pay back, with interest, over a predetermined number of months. Interest is the fee that the lender charges for providing money to cover the vehicle's full price in advance. However, the standard interest rate doesn't tell the whole story of the loan's cost. For that, you need the APR, or "annual percentage rate."

What's the difference between APR and interest rate?

While a car loan's interest rate is the amount charged by…

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Does South Shore MINI Provide Used Car Financing?

When it comes down to financing a used car in Rockland, we know you are going to want to work with a group of people you can trust. We understand that used car financing can be a little overwhelming at times, but we’re here to help. The finance team at South Shore MINI will work with you and come up with a solution that suits your lifestyle and budget. And don’t worry about your previous credit history—we’re here to help you now!

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Where Can I Find a MINI Dealer near me?

You can find South Shore MINI at 1040 Hingham St in Rockland, MA. Our MINI dealership is located conveniently near Quincy, Hanover, and Norwell MA, and the surrounding communities. Whether you’re interested in purchasing a new MINI Cooper model or would like to buy a quality used car, we’re confident our expansive inventory will have what you are searching for. If we don’t have what you’re looking for, please let us know so that we can help you find it.

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