Should I Buy or Lease a New Hyundai? | Athens GA
Should I Buy or Lease My New Hyundai in Athens, GA?
The Hyundai of Athens team is here to help you decide whether to buy or lease a new Hyundai . It’s an important decision to make, but it doesn’t have to be complicated. We’ve put together a helpful chart below to illustrate the differences between the two financing options, so take a look to learn more. You can also use our online pre-approval form and payment calculator to apply for credit, calculate estimated monthly payments and further understand your spending power. Once you’re ready, visit our dealership and our finance experts will help you finalize your purchase or lease. Ready to begin? Keep reading to find out whether purchasing or leasing is a better option for you.
How Do Car Loans and Leases Differ?
| Loan | Lease | |
|---|---|---|
| Path to Ownership |
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| Upfront Costs |
Cash price or a down payment, taxes, registration, and other fees. |
First month’s payment, refundable security deposit, acquisition fee, down payment, taxes, registration, and other fees. |
| Lower Monthly Payments |
|
|
| Customization Allowed |
|
|
| Covered Under Warranty |
|
|
| Future Value |
All vehicles depreciate, but you'll have equity when trading or selling. |
The future value doesn't affect you. |
| Unlimited Mileage |
|
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| Fees for Excessive Wear and Tear |
|
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| Fees for Early Termination |
|
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| End of Term |
You'll have full equity to do what you want with the car. |
Purchase the vehicle, or buy or lease another car. |
| Vehicle Return |
Sell or trade. |
Return the vehicle at lease-end and pay any applicable fees. |
Why Purchase a New Hyundai?
When you choose to purchase a new vehicle, you get the ultimate freedom to do what you want with it. Once it’s paid off in full, you’ll have total ownership of it (since you will have gained 100 percent equity through your monthly payments). There will be no fees or mileage limitations to worry about, and you’ll benefit from incredible warranty coverage as a new Hyundai owner. On top of this, there’s one of the best perks of ownership: customization! You can add whatever you’d like to the car, whether that’s an upgraded audio system, exterior accessories or even just bumper stickers. Once you’re ready to upgrade, you can sell or trade in your Hyundai here at our dealership. We’ll make you an offer for it that you can apply toward the cost of your next purchase. Wondering about the cons of ownership? Your monthly payments are typically higher when you choose buying over leasing, though this depends on your credit and down payment amount. Plus, once your warranties expire, you’ll be fully responsible for all repair and service costs.
Why Lease a New Hyundai?
As new car prices have risen over the past few years, leasing has become a more popular option among drivers. Monthly payments on a lease are typically lower than they are on a loan, which makes leasing an attractive option for the budget-conscious. If you choose to lease, you’ll drive your model during the most trouble-free years of its life, and you’ll likely be covered by the limited new vehicle warranty during your entire lease term. Once your lease ends, all you have to do is return your Hyundai to our dealership and pay any applicable fees. It’s an easy process, and you won’t have to worry about selling or trading your vehicle. Though there are many pros, there are a few cons of leasing to consider, including mileage limitations, the inability to customize your ride and fees for wear and tear and early lease termination.
If you’re ready to be the proud owner or lessee of one of our new models, feel free to contact us or visit Hyundai of Athens at 4160 Atlanta Highway Athens, GA 30606 . We look forward to serving customers near Buford, Lilburn, Lawrenceville and Winder.
*Visit Consumer Reports’ page for more information on whether you should buy or lease.