The Difference Between Leasing and Buying Your New Hyundai Car, SUV, or Minivan

One of the most common questions we get from many of our Devine, TX customers is regarding whether leasing or buying is the best option when it comes to financing their new Hyundai vehicle. The truth is that the decision to lease or buy depends on the situation of that person. There are many differences between leasing and buying and sometimes there are confusions and misconceptions that result from this fact. World Car Hyundai South, located at 7915 Interstate 35S in San Antonio, TX, is committed to helping customers understand the differences and assisting our Pleasanton, TX drivers make the right decision for them.

What Sets Leasing and Buying Apart from Each Other?

When a Pearsall, TX customer leases a new Hyundai, they are essentially just paying for the time of the vehicle they will use, which is one of the reasons they can get a lower monthly payment than they could if they got an auto loan for the same vehicle. At the end of the lease agreement, the driver will not own the vehicle. They can purchase the Hyundai for the residual amount, but at the end of the lease agreement, their commitment to the automobile is over if they want it to be. In an auto loan, when an Elmendorf, TX pays his last installment, he now owns the Hyundai car or SUV, and can do whatever he wants with it. A lessee has a few different options, other than purchasing the car, at the end of the lease. They can lease another Hyundai, lease a vehicle from a different brand, or do something else completely.

Floresville, TX drivers who choose to lease have terms that can go from two to four years and can get into a new Hyundai at the end of the agreement. One advantage of this approach is that they are always driving a new Hyundai with newer features and technology. When a driver opts to purchase their vehicle, trading it before it is paid in full can be difficult, especially in the first few years, as you might not have equity in the vehicle depending on several factors.

Find Out if You Are a Good Candidate

World Car Hyundai South, in San Antonio, TX, wants to help you discover if you are best served by leasing or buying. Contact a member of our finance team today and find out which option is the right fit for you.

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