Starting the process of purchasing a new vehicle can be incredibly exciting but there can be some unknowns, like which financing option is the best choice for your lifestyle, that can make it a little stressful. No need to worry, our financing team here at Apple Valley Hyundai is here to help! Our team is going over the two different finance options, buying and leasing, and what kind of lifestyles they work best for. Keep reading to learn all about them!
Buying vs Leasing
Buying: The main difference between buying and leasing a vehicle is that while you are still making monthly payments, at the end of the term, that Hyundai vehicle will be yours! Generally, car loan terms are 4-6 years and once you pay off your loan, you can drive off into the night without ever paying another car payment, sell it, or trade it in for a newer model! If you take good care of your Hyundai vehicle, the resale value can even help you recoup some of your expenses. Another great benefit of buying your Hyundai vehicle is the ability to do whatever you want with it without facing additional fees. You can outfit it with aftermarket accessories that generally are not allowed with leasing! The third most popular reason to buy a new Hyundai model is the ability to drive without mileage limitations. Plus, because it is your vehicle, there are no wear-and-tear fees that have to be paid up at the end of your term.
Leasing: Generally with leasing, your monthly payments are lower than those are when you are buying the vehicle to own it. This is because lease payments go to the depreciation during the leasing period rather than to the entire cost of the vehicle. Another great benefit of leasing is the warranty coverage. Typically, the warranty runs the entire length of your lease term and that means you will rarely need to take care of anything more than routine maintenance like oil changes and tire rotations. If there are larger issues like mechanical failures, you’ll be covered. One of our favorite benefits to leasing is the ability to drive a new Hyundai model roughly every 3 years! Once your lease term is up, you can bring it back to Apple Valley Hyundai and turn it in. Once you do that, you can start leasing the latest Hyundai models. This is a great benefit for those that have growing families or like to have the latest technology at their fingertips.
Financing with Apple Valley Hyundai
Are you ready to drive home an all-new Hyundai model? Come on down to Apple Valley Hyundai and find the model that best suits your needs with the help of our sales associates. They will show you all the different models, let you try out all the great features, and join you on a test drive of your favorite model. Once you pick out the model that best suits your needs, our financing team will go over the terms for both buying and leasing and help you determine the one that works best for you. Want to learn more about our financing team? Head over to the financing tab on our website or give them a call. We look forward to working with you soon!