Buying vs. Leasing with Homer Skelton Hyundai

If you're eager to drive home with a new Hyundai, you have a couple of routes to choose from regarding how you go about making a purchase. You can choose to buy your new vehicle or sign a lease. Which path will you pick? Both options come with their own sets of pros and cons, so there's no right or wrong choice. However, depending on your preferences, you might find that one offers benefits that are more in line with your needs.

So, what's the difference between buying and leasing? The main element that sets the two apart is ownership. When you buy, the car is yours. When you lease, you eventually must bring it back and decide how you want to proceed at lease-end. Our finance center can help you determine which route makes the most sense for your lifestyle.

Curious about the details surrounding buying and leasing? Here you can find an overview of both options and the benefits of each!

Pros of Buying a New Hyundai

Buying your next car might be the best choice if owning your vehicle is important to you. Owning your car allows you the freedom to rack up as many miles as you like, customize your car to your heart's content, and drive it as hard as you want. Then, when the time comes to part ways and start a new chapter with a different vehicle, you can use your car's value towards your next purchase.

Purchasing your vehicle could be the right move if you:

  • Move to different cities or states frequently
  • Have a long commute
  • Anticipate greater than average wear and tear on your vehicle
  • Like customizing your car

Cons of Buying a New Hyundai

Financing a vehicle is generally more expensive per month than leasing. Your car's value also depreciates over time, which could be a downer when the time comes to sell or trade your vehicle. If you don't like the idea of dealing with the process of selling your car, then buying might not be for you.

Pros of Leasing a New Hyundai

Leasing a new car is typically less expensive than financing, so you can enjoy savings or even get a higher trim level for less. Your car is also under warranty for the duration of your lease, allowing you to enjoy added peace of mind and save on service. So, if you're looking to get more car for less, then leasing could be an excellent choice.

Leasing might be the best path if you:

  • Like driving new cars every few years
  • Want the opportunity to try out different vehicles in the Hyundai lineup
  • Like to keep up with tech and safety updates
  • Want to spend less on monthly payments

Cons of Leasing

Since you don't own the vehicle when you lease, there are a few restrictions to keep in mind. You must return your vehicle to our dealership at lease-end in largely the same condition in which you found it, barring normal and expected wear and tear. You'll also have to keep mileage restrictions in mind, so leasing might not be a good fit if you have a long commute or often find yourself driving long distances.

Learn More About Buying vs. Leasing

If you want to know more about the differences between buying and leasing, we can dive deeper into the details with you. Contact us today to connect with a member of our financing team! We'll be happy to walk you through your options and help you pick the best one for your needs!

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  1. Homer Skelton Hyundai

    8145 Craft Road
    Olive Branch, MS 38654

    • Sales: (662) 890-0100
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  • Contact our Sales Department at: (662) 890-0100
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