Buy vs. Lease

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Leasing a Vehicle vs. Buying: Find the Right Repayment Plan For You

Are you interested in upgrading your ride, but you’re not sure what the difference between leasing a vehicle vs. buying? Many car shoppers often wonder if they should lease or purchase their next Hyundai vehicle at Morrie's 394 Hyundai. We offer a comprehensive range of new Hyundai models for sale in St. Louis Park, making it easy for you to find the model that’s right for your driving needs.

But should you finance, meaning you own the vehicle and can do as you please in terms of customization and mileage, or lease your next car, but you’ll have mileage restrictions and can’t further customize your vehicle? That’s where we come in! We’re here to help you not only find the vehicle that’s right for you but also create a finance or lease package that fits within your budget. Feel free to contact our finance department if you have any questions or would like to schedule an appointment.

Should I Buy or Lease My Next Hyundai in St. Louis Park?

Wondering the difference between leasing a vehicle vs. buying? We’re comparing your two options below!

Pros of Buying

Here are some of the benefits of buying a new Hyundai vehicle:

Building Equity. When you own your Hyundai, you build equity. Making a sizable down payment on your car allows you to own it sooner, meaning you won’t owe any money if you want to trade in your vehicle.
Modifications. Owning your Hyundai means you can make any modifications to it that you want. If you want to give your Hyundai a new paint job or muffler, you’re free to do so.
No mileage restrictions. Racking up more miles than you thought you would be? You won’t have to worry about mileage restrictions when you purchase your Hyundai.
You can sell your vehicle whenever you wish. If you want to upgrade to a new Hyundai, you can always sell your vehicle whenever you want to, if you want to.

Pros of Leasing

There are plenty of advantages to leasing a new Hyundai, especially when it comes to your budget. Here are some pros of leasing:

Cheaper monthly payments. When you lease your Hyundai, you’ll find that your monthly payments are generally lower than if you were to buy your vehicle.
Your car is always under warranty. Leasing your Hyundai means that the factory warranty will cover any repairs not due to accident, abuse, or normal wear and tear. As long as you hold the lease, you’re covered by the warranty!
A short commitment. With a lease, you can essentially test drive a new car without being tied to it for too long. If you want to make a change in your daily driver, you can do so whenever your lease is up.
Upgrading is easy. When your lease has ended, you can always upgrade your Hyundai to include the newest technology.

Get More Leasings vs. Buying Tips at Morrie's 394 Hyundai!

If you’re looking to buy or lease a new Hyundai, don’t wait! Contact us at our St. Louis Park Hyundai dealership serving Minneapolis and Minnetonka. No matter which option you choose, you’ll be getting behind the wheel of an exceptional vehicle.

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