When you're ready for a new car, one of the first things to consider is if you want to lease or buy. While going the Hyundai finance route has many advantages, leasing also has merit. This guide from Keyes Hyundai offers the pros and cons of each option.
Why Finance a Hyundai Vehicle?
Perhaps the most significant advantage of financing a new Hyundai car is that you get to own it. In addition to having a fanatic vehicle, you're building substantial equity. Plus, with financing, you don't have to pay for the entire car at once. You will supply a down payment and then pay for it over time.
Another benefit of financing is that you can drive your vehicle as much as you like because you are the owner. You can also customize to your heart's content-a new paint job, an upgraded sound system, or performance upgrades-without incurring wear-and-tear penalties. You can also sell your car at any point. The only real negative with financing is that it can be pricier than a Hyundai lease.
Why Lease a Hyundai Vehicle?
In addition to potentially saving you money, there are other reasons to consider leasing a Hyundai vehicle. First of all, you get a lot of flexibility. Leasing enables you to drive a car just for a few years, and then you can turn it back into the dealership. Resale is someone else's problem. You'll also have several choices at lease end:
- Buy out your lease and keep your current vehicle
- Lease a newer version of your car or a different one altogether
- Simply walk away once your lease obligations are taken care of
For all the advantages, there are also some downsides to consider with leasing. For one thing, you will need to adhere to a mileage restriction every year. If you go over this, you will be assessed a per-mile fee. Excess wear and tear-which includes customizations, upgrades, or even the use of aftermarket parts or unauthorized repairs-will incur penalties, too. It's also worth noting that leases-like Hyundai incentives-typically go to those with the best credit.
Keyes Hyundai Makes Car Buying in Sherman Oaks, CA, Easy
Still not sure if financing or leasing is right for you? Get in touch with our Hyundai dealership in Sherman Oaks, CA. We'll help you make a smart decision that meets your needs and budget.
