When it comes time to get behind the wheel of a new car, many shoppers wonder whether leasing or financing is the better option. Here at Matt Bowers Hyundai Metairie, we want to make sure our customers in the Metairie area and beyond have all the information they need to make the right choice. In this article, we'll break down the benefits of leasing a new Hyundai vehicle.
What is Leasing a Vehicle?
First, let's explain what leasing is and how it differs from traditional financing. When you lease a vehicle, you're essentially renting it from the dealership for a set period, usually 36 months (although shorter or longer leases are often available). You make monthly lease payments during the lease term and return the vehicle to the dealership at the end of the lease. Leasing is a great option if you like to drive a new car every few years and consistently enjoy the latest features.
On the other hand, when you finance a vehicle, you are borrowing money to purchase the car outright. You make monthly loan payments until the vehicle is paid off, at which point you own it. Financing is a good choice if you plan to keep your vehicle for the long term. Consistently making your loan payments on time can also increase your credit score.
Benefits of Leasing a New Hyundai
There are several compelling benefits to leasing a new Hyundai:
- Lower monthly payments: Since you're only paying for the vehicle's depreciation during the lease term rather than the entire purchase price, monthly lease payments are typically lower than loan payments.
- Drive a new Hyundai vehicle every 36 months: When you lease, you can enjoy a new Hyundai vehicle with the latest features, technology, and style every three years or so.
- Warranty coverage: New Hyundai vehicles come with excellent warranty coverage, so most repairs are covered during the lease term.
- Maintenance may be included: Some Hyundai leases include routine maintenance like oil changes and tire rotations, making it even more convenient.
Lease-End Options
When your Hyundai lease comes to an end, you have three main options:
- Trade-in and lease a new Hyundai: If you loved your Hyundai lease experience, you can trade in your current vehicle and drive home in a brand new Hyundai.
- Purchase the vehicle: If you've fallen in love with your leased Hyundai, you have the option to buy it at the end of the lease term.
- Return the vehicle: If you're ready to move on, simply return the vehicle to Matt Bowers Hyundai Metairie at the end of the lease and walk away. You can return it with no further obligations.
At Matt Bowers Hyundai Metairie, we proudly serve customers from Metairie and nearby communities like Kenner. The team at our Finance Center is here to walk you through the leasing process and help you find the ideal new Hyundai vehicle to fit your lifestyle and budget.
For drivers in Harvey, leasing a new Hyundai is a smart way to enjoy all the latest features while keeping monthly payments affordable. If you are commuting to New Orleans on a regular basis, a lease can be an excellent way to ensure you always have a safe, reliable vehicle.
Visit Matt Bowers Hyundai Metairie to explore our selection of new Hyundai vehicles and learn more about your leasing options. We are standing by to answer all your questions and help you find the ideal leasing solution for your needs.
