Should I Buy or Lease?
Many know about the advantages of buying a car, but how about leasing? Are you aware of the difference between the two? And which choice is better for you financially? At Gettel Hyundai of Charlotte County, we understand that buying or leasing is a huge decision to make, so we’ve done research and gathered the pros and cons of each to help. If you have any other concerns, our finance team is ready to answer your questions. Keep reading to learn more about the advantages of either buying or leasing your new vehicle.
Why Lease
a Vehicle?
Minimal Upfront Cost
When you lease a vehicle, you’re going to make monthly payments with the agreement that you’ll return the vehicle to the dealership at the end of your specific lease period. Leasing is basically renting for a certain period of time, so your financial responsibility and monthly payments could be reduced. And, with our great new car specials, we have leasing options that don’t require a down payment, or $0 down, to begin your contract. Upfront costs to leasing could be little to none.
Lifestyle Flexibility
On average, leasing periods range from 24-60 months, allowing you to make reasonable payments with shorter terms. Lessees are given around 12,000-15,000 miles per year, but you can purchase more miles at signing if needed. When leasing, you can drive a new vehicle every few years without the hassle of trading or selling and still maintain the option to buy your Hyundai at lease-end. That’s a pretty great deal.
Warranty Protection
Since most leasing periods span two or three years, your new Hyundai could still be covered under its warranty the entire time you drive it. And, if you purchase our Lease Excess Wear & Tear Protection Plan, you could waive the cost on everyday dents and scratches. Lessees don’t have the same burdens as owners in regards to repairs!
Why Purchase
a Vehicle?
True Freedom
To compare, owning a vehicle is a huge benefit of buying. Once you’ve paid off your vehicle, it’s yours to sell, trade, or keep for as long as you want. You have the freedom to keep your new car as long as you want and, similar to deciding which color to paint a wall in your purchased house, you can choose to customize your car to match your lifestyle. Owning is a win-win investment that leasing can’t offer.
Financial Flexibility
While most finance terms require a down payment, purchasing might be more fiscally responsible long-term. You have more financing options than leasing, and you can decide to purchase the vehicle in full with cash, or finance through us at Gettel Hyundai of Charlotte County or another lender. Once you’ve finished your monthly payments for the vehicle, that money is yours when you keep your vehicle, like a good return on an investment. When leasing, that money is essentially lost when you return the car to the dealer, and you’ll have to start over again.
No Mileage Restrictions
When you’ve finished your payments when buying, you’re the boss. That means no mileage restrictions (and fees if you go over) or needed permission to leave the country with your vehicle like leasing would require. Ownership means autonomy from lenders, and the satisfaction of independence.
If you’re ready to be the proud owner or lessee of one of our new models, or are interested in learning more about your lease-end options, feel free to contact us online or visit us at 1950 Tamiami Trail, Punta Gorda, FL 33950. We look forward to serving customers from Punta Gorda, FL, near Port Charlotte, North Port, Venice and Fort Myers.