Pros and Cons of Leasing and Buying

Wondering which option is right for you?  While all drivers have different needs and budgets, there are a few general Pros and Cons to consider when shopping for a New Vehicle.  Below are some of the things our customers ask us about.  You're always welcome to Visit Us and speak with a knowledgeable salesperson about your options!

Leasing

Pros:
  • Down payments and monthly payments with vehicle leases tend to be lower.
  • Leasing a vehicle allows you to avoid some of the negative effects of depreciation.
  • Leases tend to offer you additional flexibility, as you have the option of upgrading to a new model with modern features every few years once your current lease is up.
Cons:
  • You don't own the vehicle you operate, meaning you must turn it in at the end of your lease if additional plans aren't yet in place.
  • There are also mileage limitations that come with your lease, something you need to keep in mind when operating your vehicle.

Buying

Pros:
  • You own the vehicle you operate, and have substantial equity in a new model with so much to offer you.
  • Owning a vehicle means having the right to sell or trade the vehicle in at any time.
  • It also means being free of any mileage limitations restricted with a lease.
Cons:
  • Monthly payments and down payments do tend to be more expensive than leasing payments.
  • Purchasing a vehicle outright does give you less flexibility when it comes to upgrading to a new vehicle.

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Hours

  • Monday 7:00am - 9:00pm
  • Tuesday 7:00am - 9:00pm
  • Wednesday 7:00am - 9:00pm
  • Thursday 7:00am - 9:00pm
  • Friday 7:00am - 9:00pm
  • Saturday 7:00am - 6:00pm

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To Buy or to Lease a New Hyundai: That is the Question, Here at Gerald Hyundai!

If you're in the market for a new vehicle for you and your family, you have many decisions to make. Deciding between the plethora of makes, models, and trims available on the market is difficult enough, but then you have to decide between loaning or leasing! We are here to help you make your decision, here at Gerald Hyundai! If you're having trouble making the decision, we have put together a quick comparison between buying and leasing to help you choose the right path when you consider your Hyundai model options. While both choices are great, we encourage our customers to explore both options to decide which is best for you financially.

We at Gerald Hyundai understand that each customer's financial situations is different. That's why we take the time to discuss your automotive and financial options so we can tailor your financial plan to your budget. We encourage you to visit our Finance Center to learn more about what we can do for you. If you have any questions please give us a call, contact us online, or visit us in person to learn more. We look forward to seeing our customers from North Aurora, St. Charles, Aurora, Batavia, Elgin, and Naperville soon!