Buy vs. Lease

Here at Mid-Island Hyundai, plenty of people ask us about buying versus leasing their next new Hyundai and which option is right for them. The fact is, both provide standout benefits, and it is all depending on your situation, and driving habits. But, we are here to provide you with the benefits of both, and some questions most people ask us about leasing a Hyundai here on Long Island and Centereach, NY.

What are the benefits to you?

Buying your new Hyundai:

  • There's less worry about the vehicle condition, because you own it and aren't subject to wear and use guidelines
  • There's no limit on the mileage, which there is on leases
  • You have full ownership of your vehicle, where a lease you are making payments on set terms for a standard amount of time
  • You get the factory warranty to cover major repairs
  • You're also able to sell, trade, or transfer the title of the vehicle when you want

Leasing your Hyundai:

  • Lease payments are generally lower compared to when you buy
  • You give yourself the opportunity to drive a new car every three years, as a lease is a set amount of time, so this provides more flexibility with your driving options
  • You also get the factory warranty to cover major repairs
  • Hyundai also provides a Single Pay Lease program, where you can pay a cash payment for the use of the leased vehicle over certain terms, without monthly payments: contact us here at the dealership for more information on the program

Frequently asked questions that many people want to know, and at Mid-Island Hyundai, we are here to answer them.

How much do I pay?

When you buy your Hyundai, you go through our lease and finance team to come up with a monthly payment that is determined by vehicle price, your down payment amount, trade-in value if you have a vehicle to trade, interest rate, and length of term.

When you lease a Hyundai, you pay for a portion of the vehicle over the course of the lease, which is typically 36 months. You can find lower down payment and monthly payment options as possibilities, too.

How long does my finance contract last?

A finance contract when you buy, usually lasts 24 to 72 months.

A contact on a leased vehicle is usually 24 to 48 months.

Can I customize my vehicle?

With a vehicle you have bought, you can add any accessories, including Hyundai parts at any time.

With a leased vehicle, you can only customize it with approved accessories, defined by the lease terms. Our parts team will be able to tell you what's approved.

What happens at the end of my finance contract?

At the end of your finance contract when you buy your Hyundai, you'll get your title, lien release, or letter from us indicating your lien has been released after your final payment is processed. From there, you fully own your vehicle, and have no more monthly payments!

With a lease, you get options. You can choose to purchase your leased vehicle at its residual value from us at Mid-Island Hyundai, or you can choose to return it. You can also ender a new lease in a new model if you choose.

How many miles can I drive my vehicle?

When you purchase your Hyundai, you don't have any mileage restrictions. Of course, the more you drive a vehicle, the lower a re-sale value might be, but you are in control of where you go, and how long you drive in your Hyundai.

With a leased vehicle, there are a set amount of miles that are determined in the lease contract. It's typically between 12,000 miles and 15,000 miles per year. If you go over, you can incur additional charges, but you can also purchase additional miles up front.

To learn more, feel free to contact us online or by calling the dealership. Our team would be happy to discuss all the lease and buying options of our lineup of Hyundai vehicles with you, and help you find your next vehicle, and the right finance situation today.

Contact

Mid-Island Hyundai

1815 Middle Country Road
Directions Centereach, NY 11720

  • New Car Sales: (877) 242-3148

Have Questions? - We're Here to Help!

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