Are You Buying or Leasing That New Hyundai?

To buy or to lease a Hyundai Kona, that is the question. You already know you want the SUV (red, please), but do you want the Hyundai lease? Or the full-out purchase? LaFontaine Hyundai Livonia gives you the low-down on both options.

Close up of a keyboard with a Leasing concept.

The Hyundai Lease

In the simplest terms, when you lease a vehicle, you’re essentially borrowing it from our Hyundai dealership in Livonia, MI. There are varying lease terms, the most popular being for 36 months. During the tenure of your lease, you’ll make monthly payments just like you would if you purchased the car. However, there are usually lease specials so those payments may be lower than you think.

Since our dealership will want the car returned in good shape when the term is up, the lease will most likely come with a sweet bumper-to-bumper warranty. That way you won’t have to worry about extra maintenance costs or unexpected repairs.

When the lease is up, you’ll have the option to buy the vehicle, or you can turn it in and lease another new Hyundai vehicle. Basically, if you never want to own an old car, and you prefer your maintenance to be worry-free, a Hyundai lease may be the way to go.

The Hyundai Purchase

A purchase is exactly that—you’re buying your chosen Hyundai model from the dealership, and when you’ve made your last payment, you’ll own it outright. Your Hyundai dealer can help you figure out Hyundai financing for your new car, and what your monthly payments will be, and you’ll know exactly how long it will be before the title is yours.

Straight off the lot, a new vehicle will usually have a warranty, but it won’t last for the life of the car.  When the warranty runs out, you’ll be responsible for any necessary maintenance or repairs. If you ever decide you’d prefer a different Hyundai vehicle, then you’ll be able to trade in the auto you currently own to help defer the costs of the new model. Basically, if you want to build up equity in your car, and ownership is something that appeals to you, a Hyundai purchase is your best option.

Now you know, so now you can answer the big question for yourself. And while you’re contemplating, go ahead and shop online for your Hyundai—so you’ll know exactly what you’ll be driving when you sign the lease or the purchase papers.