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How is sales tax applied to an Acura lease? – Prime Acura Westwood, serving Boston and Framingham

If you're in the market for a new Acura and like having the option to upgrade to the latest model more often, you may consider a lease for its flexibility and convenience compared to financing. Additionally, Acura leases are always covered under warranty, and their guaranteed future value ensures you don’t have to worry about resale value. If the vehicle depreciates more than the estimated residual value, you can turn in the vehicle at the end of the term. And if it's worth more, you can purchase it.

Another benefit is that leasing generally costs less than…

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Is leasing a new Acura a better deal than buying? – Learn more at Prime Acura Westwood, near Boston and Framingham

Once you've found the new Acura MDX or TLX that best fits your needs and preferences, you have three payment methods to choose from. If you don't plan on paying for the whole vehicle up front, that leaves the two most popular options—financing or leasing. But which one is the right method for you? To assist you in your consideration, here's a quick overview of their distinguishing attributes.

To briefly summarize, the primary distinction between leasing and financing is ownership. With financing, you pay down a balance and will own the title outright after the final…

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What does residual value mean when leasing a new Acura? – Prime Acura Westwood near Boston and Natick

If you like to have access to the latest automotive features and technologies more often, you may choose to lease instead of finance for the opportunity to upgrade sooner. Additionally, another benefit to leasing is that it costs less over the same time period, thanks to lower monthly payments and sales tax versus financing. One factor to keep in mind when considering a lease is the vehicle's residual value.

Since leasing entails paying to use a vehicle for a predetermined period of time, the lease payments cover the vehicle's decrease in value, or depreciation. Residual value is what…

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What is APR and how is it calculated? – Learn more about Acura financing at Prime Acura Westwood, serving Boston and Framingham

If you're planning to purchase a new Acura, unless you'll be paying the full cost upfront, you'll most likely be taking out a car loan. Car loans are generally paid back with interest, which is the fee charged by the lender to cover the full price of the vehicle in advance. However, interest isn't the best indicator of a loan's true cost. For that, you'll need to know the annual percentage rate, or APR.

What's the difference between the APR and interest rate?

While an auto loan's interest rate is the amount…

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