Buying vs Leasing

Leasing Vs. Financing to Own

Two shoppers could look at the same Kona, Elantra, Tucson, or Accent in our inventory. However, one may choose to finance the vehicle purchase while another wants to lease. At Graham Hyundai, we can accommodate both. Only some visitors to our dealership understand the differences between leasing and financing to own, and there could be surprised looks when inquiring customers learn that the leasing and financing applications are virtually identical and that down payments and trade-ins are accepted with leases. The differences between the two strategies are stark, though.

Hyundai Leasing Arrangements

Leasing a new Hyundai involves signing a contract establishing a set term in which the customer takes possession of the vehicle. The customer might sign a lease agreement that gives them driving privileges for 24 to 36 months, with a set number of capped miles per year. Any overages might come with a per-mile fee. At the conclusion of the term, the customer must return the Hyundai to our Marion, OH area dealership.

The day the customer returns the Hyundai creates an opportunity to lease a newer Hyundai, which is a tremendous upside to leasing. Instead of dealing with the steps required to trade in a car or sell it via a private sale, the customer merely returns the leased model. Upon leasing a new Hyundai, customers from Elyria, OH and Ashland can access all the latest features and low miles a brand-new vehicle delivers. Sometimes, the customer may appreciate the leased model so much that they choose to purchase it.

Leasing could be a cost-effective strategy since the customer pays a reduced monthly premium based on depreciation. The lower premiums may become even lower when making a larger down payment on the deal.