Should I Buy or Lease?

handing over car key at dealership

If you’re looking for the new 2020 Sonata or a pre-owned Kona for Indianapolis commutes and weekend adventures, 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 Terry Lee Hyundai finance specialists. Check out our new vehicle specials to see if they spark your interest, then read on for the full details below!

Leasing: A Closer Look

While some Carmel “experts” may tell you that the question, “Should I buy or lease?” depends solely on your budget, but the difference between leasing and ownership is a little more complicated than monthly payments. See below for how leasing stacks up for your lifestyle:

  • Many Avon drivers prefer leasing because of the likely lower monthly payments. Often, there is no requirement of a down payment at all, which is great if you don’t have a lot of capital to play with. Sales tax may also be lower, or non-existent.
  • With leasing, you can always be on the cutting edge. 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 next hardy Hyundai Santa Fe, 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!
  • Drivers with less-than-ideal credit may prefer leasing because it can be easier to obtain approval than with a car loan.
  • Leasing does come with certain stipulations like mileage limits, but if you adhere to the lease agreement, your warranty coverage will protect your car for in case of needed service.

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 the best parts and accessories 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 begin your application from the comfort of your own home today!
  • You can also sell your car whenever, or trade-in whenever you want that added value to your upgrade.

Terry Lee Hyundai, Your Leasing and Loan Experts

Now that you have a better sense of the answer to “Should I lease or loan?” explore all our amazing vehicles in our Noblesville inventory to find yours. Stop in for a test drive to truly experience your new ride, or contact our Terry Lee Hyundai specialists to discuss your lease or loan today! While you’re here, you can compare the performance and features of the 2020 Hyundai Santa Fe and the 2020 Kia Sorento or learn about the Hyundai Roadside Assistance package.

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