Buy or Lease

So, you know that you want to drive with Hyundai. What you might not know is whether buying or leasing is a better fit for your unique needs! "Should I buy or lease?" is one of the most common questions that drivers bring to the financing team at our dealership, so we've happily laid out the basics.

While neither path is 'better' than the other, one will likely be a better choice! Just keep the following points in mind before you drive into Salem from Corvallis or Keizer.

Leasing vs. Buying: Long and Short-Term Costs

  • Leasing offers lower monthly payments off the bat, all other things being equal. You'll also spend less on taxes and down payments. However, if you start a new lease every few years, your payments won't change much over the years. However, you won't have to worry about escalating service or repair costs.
  • Financing gives you a chance to eliminate your monthly payment entirely, and buying used is often more affordable than leasing new. Drivers who pay off their financed vehicle will spend less than a driver who continues to lease, but repair costs tend to grow as a vehicle ages.

The Bottom Line: Most Hyundai drivers keep their vehicles for an average of three years, and just about everyone we talk to wants to enjoy the latest features. If you share these goals, you'll most likely find leasing to be the preferable option. If you're still set on full ownership, connect with our finance team to explore your options.

Leasing vs. Buying: Mileage & Restrictions

  • Those who finance with the intent to pursue full ownership will not have to worry about mileage limits or restrictions.
  • Those who lease their vehicles will have to stay within certain strict boundaries, or pay a fee when their lease term comes to a close.
The Bottom Line: Those who commute a short distance will find that the vast majority of leases are suitable for their needs. Those who love their weekenders and road trips will likely find financing to be a better fit.

Leasing vs. Buying: Freedom, Options, & Processes

  • Financing offers flexibility. You're locked into a contract, but you can sell or trade in the vehicle at any time (provided that the vehicle is worth more than you owe). You may also be able to refinance for a lower rate down the line. And of course, the vehicle is yours to keep for as long as you like.
  • Leasing is easy and convenient. Just take good care of the vehicle while it's in your possession, drive it back to our lease return center at the end of your term, and drive home in a new vehicle. You might also have the option to buy out the lease and bring your leased vehicle home for good.

The Bottom Line: The simplicity of leasing is a major draw for drivers in Portland and Mcminnville. Still, if you're comfortable maintaining and reselling a vehicle, the money you get for trading in a purchased vehicle could help to offset future costs.

Explore Leasing and Financing Options at Withnell Hyundai

If you're ready to move forward, start exploring our current leasing and financing specials or simply apply for financing online. We're here for you by chat, by phone, or by email, and you're welcome to make an in-person appointment, too. Contact us online or call us at 888-670-5792 to get started!