Hyundai Elantra Lease Deals & Finance Offers

With all the interior features and performance prowess the Hyundai Elantra has to offer, it’s no wonder that so many Richfield drivers want to take advantage of the excellent Hyundai Elantra deals Morrie’s 394 Hyundai has to offer. However, you may have some questions when it comes to leasing a Hyundai Elantra. We’ve collected the most common questions and answered them for you below:

Where Are The Best Hyundai Elantra Lease Deals?

• The best Hyundai Elantra deals are right here at Morrie’s 394 Hyundai!

Is It Cheaper To Buy Or Lease A Hyundai Elantra?

• Leasing a Hyundai Elantra typically allows for lower monthly payments and a lower down payment as opposed to financing, especially when you get a Hyundai Elantra lease deal! However, this will depend on the model year, trim level, and the features you decide to add onto your package.

Is It Better To Buy Or Lease A New Hyundai Elantra?

• Deciding whether you should finance or lease a Hyundai Elantra will depend on your personal preferences and budget. If you enjoy upgrading to the newest Hyundai models every few years and avoiding the hassles of car-ownership, then leasing is probably the best choice for you. If you plan to customize your Hyundai Elantra, sell it later on, or use it to build your equity, then financing will be your best option.

Can I Negotiate The Hyundai Elantra Lease Price With Morrie’s 394 Hyundai?

• You can discuss our Hyundai Elantra lease price with our finance team!

Can I Transfer A Hyundai Elantra Lease?

• Your lender will determine whether or not you can transfer the lease on your Hyundai Elantra. Some Minneapolis lenders won’t allow you to transfer a lease, but others will under certain circumstances. For example, you may have to pay a transfer fee that could be as much as $600, or your lease transfer will have certain stipulations: Transfers may only be allowed in the same state, within a certain time frame, or under certain circumstances.

Is It Worthwhile To Buy Out An Elantra Lease?

If you decide you may want to buy your Elantra at the end of the lease term, you should ask yourself the following questions: 

• Will I be driving my Hyundai Elantra in five years? If you can’t see yourself driving the same Elantra in five years, then you shouldn’t buy out the lease. 
• Is the Hyundai Elantra price right for the current market? Compare the market value of a used Hyundai Elantra to the residual value on your lease terms. If the residual value is lower than the current market price, then you could have a good deal on your hands! 
• Is the cost of the Hyundai Elantra ownership reasonable? Most lease plans end at the same time the manufacturer’s warranty on the vehicle ends. If you want to buy out your Hyundai Elantra lease, then you should keep in mind that any mechanical failures or other issues won’t be covered by a warranty. Research the reliability of your Elantra model 5 to 10 years into the future and see if the average cost of maintenance over that time is something you can add into your budget.