Buying Vs Leasing
If you’re looking for the new 2021 Sonata or a Pre-Owned Tucson for your daily commute and weekend trips to the Lake , it’s common to believe you only have one financing option. The truth is, there are plenty of financing and leasing factors to consider as you look for your next car. Answering, “Should I buy or lease?” depends almost as much on the car as the driver, but the difference between Lease v. Buying should be clear with this guide from the Joe Machens Hyundai Finance specialists. Check out our Hyundai Specials to see if they spark your interest, then read on for the full details below!
Leasing: A Closer Look
While some “experts” may tell you that the question, “Should I buy or lease?” depends solely on your budget, the difference between leasing and buying is a little more complicated than monthly payments. See below for how leasing stacks up for your lifestyle:
- Many Hyundai drivers prefer leasing because of the usually lower monthly payments. Many times, you are not required to make a down payment, just your First Months Payment! This is great if you don’t have a lot of cash to play with. Plus, in Missouri, Sales Tax is built into your monthly payment! So no immediate trip to the DMV to wait in line to register your vehicle and pay Sales Tax! The State of Missouri does still collect Personal Property Tax on the vehicle even though you are leasing it. They will bill Hyundai Financial Services first, and then Hyundai will place that on your monthly bill.
- With leasing, you can always be on the cutting edge of vehicle design and be able to easily upgrade into the Newest Hyundai model! Between the latest technology and lower payments, you’ll have access to the best Hyundai has to offer.
- When you want an upgrade from one lease to another for the All New Hyundai Palisade, there’s no negotiating between trading-in or selling your previous car. It’s as simple as paying any remaining owed and any possible fees, then moving on and up!
- Leasing is a fantastic option for those folks who like to get a new vehicle every few years! When your lease is up, stop by and see us and we will help you upgrade you into your next Hyundai!
- Leasing does come with certain stipulations like mileage limits, the expectation of keeping the vehicle maintained to factory specs, and returning the vehicle free of damage.
The Benefits of Ownership
When it comes to the full benefits of buying a car, personalization is a major factor, but it’s not the only one. See below for the pros and cons of a purchasing your next vehicle:
- With ownership, customization has no limits. Whether you want to paint a mural on the side of your Hyundai Elantra, or you simply want to upgrade to custom wheels to tailor your driving experience, it’s entirely up to you.
- When you buy your next vehicle, you don’t have extra stipulations on returning it.
- Ownership also means there are no mileage limits. That road trip to see old friends is entirely up to you and your schedule.
- Drivers typically find that buying is more straightforward than leasing. You can even shop from the comfort of your own home by visiting our express store.
- You can trade your vehicle whenever you like!