Are you struggling to decide whether to purchase or lease a vehicle? What is best for you depends on many factors, including your budget, driving style, and economic goals. The following can help you decide whether to buy vs lease, and what your Hyundai financing in Anaheim CA can do for you.
What are the positives of buying?
When you decide on a vehicle from our dealership, the typical route is to either buy it outright with cash or finance your purchase through a loan. This choice offers many advantages.
After you've paid the cash or paid off the loan, you own the car and can look forward to many years of payment-free driving, which saves you money in the long run.
You can modify the appearance or function of your model to suit your preferences, from painting it a different color to adding useful options such as luggage racks, mud flaps, or tiger-striped seat covers.
Buying means face no restrictions on the number of miles you can drive per year or on where you can take your vehicle. You're free to drive to Canada or Mexico, or have your vehicle shipped to Europe for a long-term vacation.
Because you own your car, you can sell it at any time if you need some quick cash. If you're buying a replacement vehicle, you can trade in your current one to lower the price of your purchase.
What are the pluses in leasing?
Leasing is similar to a long-term rental, as you pay for the use of a new car for a specified period, typically 24, 36, or 48 months. You are only paying for the depreciation of a vehicle during the lease term, rather than the full value. The monthly payments are lower than if you financed a purchase.
A typical lease lasts four years, and the Hyundai new vehicle limited warranty lasts for 5 years or 60,000 miles. The vehicle remains under warranty for the entire time that you're driving it. You don't have to worry about unnecessary repair costs because almost everything is covered.
At the end of your lease, you can return the vehicle with no further obligation, buy the car for a predetermined residual value, or extend the lease. If you return the vehicle, you can sign up to lease a new vehicle, which means you'll be driving a new car every two to four years.
When you need to preserve cash flow with lower monthly payments and prefer to drive a new vehicle every few years, leasing is a good choice. If you desire to own your vehicle for a longer term, such as five or ten years, then buying is the option.
If you have any further questions, please contact Anaheim Hyundai Financing in Orange County. We'll be happy to help you buy or lease your next vehicle.
