Leasing Vs. Buying a Hyundai: What’s the Difference?

Lease vs Buying

Ready for a new car to make driving around the Gadsden area extra fun, safe, and efficient? Then you have the decision to make: whether to lease or buy a new or used Hyundai vehicle. There are pros and cons to both, so you’ll want to review the specifics of leasing and buying. To help you determine what is best for your driving needs at this time, we at Team One Hyundai of Gadsden in Rainbow City created the following guide. Read on, be enlightened, then contact us to discuss your buying and leasing possibilities! 

View InventoryContact Us

Buying Vs. Leasing: Advantages & Disadvantages

Before diving into the pros and cons of leasing and buying, consider your current circumstances. Depending on your lifestyle, budget, and driving needs, one option might be significantly better than the other. With these factors in mind, let’s dive into the advantages and disadvantages of leasing and buying. 

Leasing

Advantages:

  • The quick and easy return process
  • Low monthly payments compared to an auto loan
  • Options available at the end of your lease, such as upgrading to a newer version of the same model or choosing a completely different vehicle
  • No upfront sales tax fees
  • No depreciation issues
  • Typically, includes warranty coverage

Disadvantages: 

  • You don’t completely own your vehicle
  • Penalties for driving over the mileage limit
  • Early lease termination fees
  • Fees for serious vehicle wear and tear

Buying

Advantages

  • No mileage limits
  • Complete ownership of the vehicle
  • Endless customization options
  • (Usually) lower insurance compared to leasing
  • Can sell the vehicle at any time
  • A form of equity 

Disadvantages

  • Sizable down payment
  • Depreciation over time
  • High monthly payments compared to leasing
  • Maintenance expenses

Why Lease or Buy From Team One Hyundai of Gadsden?

No matter what you decide, buying or leasing from our dealership in Rainbow City offers a plethora of benefits. In addition to cruising around Anniston and Oxford in your dependable new ride, you’ll enjoy perks such as: 

If you lease with us, you can buy out your lease and enjoy full ownership of your vehicle, upgrade to a new model, or simply return the car to our dealership. 

Buy or Lease a Vehicle From Team One Hyundai of Gadsden 

Contact us today to discuss your driving needs! You can also apply for financing online and use our Value Your Trade calculator if you decide to buy. See you soon!