Hyundai Finance 101: Leasing vs. Buying

Have you decided to get a new Hyundai vehicle? If so, we applaud your decision. While that decision is already made, you still have one more. Now, it’s time to decide whether you’ll lease or purchase the automobile you have your eye on. To see which option is best for you, it’s wise to discuss Hyundai finance with the resident experts in our Hyundai financing center.

Reasons to Lease a Vehicle

All the new Hyundai models at our Hyundai dealership are available for area motorists to lease. If you only have a small down payment and want to keep your monthly payments as low as possible, you may want to lease your next car. That’s because leases typically require smaller down payments and involve lower monthly payments because you’re not financing the vehicle’s total purchase price as you would if you purchased instead.

Leasing is an excellent option for drivers who want a new automobile with the latest features every few years. The average length of a lease agreement is 36 months. When your lease expires, you’ll return your leased vehicle to our Hyundai dealership. At that time, you can lease or buy a new car.

In general, leased vehicles are covered by a factory-backed warranty for the entire time lessees have them in their possession. That coverage may mean significant savings on covered repairs in our Hyundai service center.

Why Purchasing May Be the Right Move

As attractive as leasing may be for some motorists, other drivers are better off buying an automobile from Kearny Mesa Hyundai. Every lease contract includes restrictions and requirements, such as a limit on the miles you can drive while your lease remains in force and a mandate that you maintain your automobile in good condition. If you drive more than average or tend not to give your car some much-needed TLC, buying a car is probably a wise move to avoid costly penalties.

Drivers wanting to add a valuable capital asset to their financial statements usually are better off buying a vehicle. Financing an automobile puts you on a path to ownership, while leasing is akin to a long-term rental agreement.

Get Pre-Approved at Kearny Mesa Hyundai

Are you ready to lease or purchase a new Hyundai vehicle from our San Diego, CA, Hyundai dealership? In either case, get pre-approved for Hyundai financing now.