Buy vs Lease Information | Sarasota FL | Near Venice

Buying vs. Leasing Your New Vehicle

If you've been looking to find a new vehicle that will better meet your needs as a driver, you've probably wondered whether you should buy or lease that vehicle. The decision can be a tricky one, and that's why, here at Gettel Hyundai of Sarasota, we've made a list of various points to consider before you choose. Keep reading to find out which is a better fit for you.

WHY LEASE A VEHICLE?

Freedom of Choice

Two of the primary benefits of leasing a vehicle are freedom and flexibility. When leasing, customers can put off the purchasing decision and have the freedom to drive a new vehicle every few of years if they choose, without the trouble of having to sell or trade their vehicle.

Flexibility

Leasing terms typically last between 24 to 60 months. This means you can make more affordable payments with shorter terms. Plus, you get to select your mileage. Lessees are typically given 12,000 or 15,000 miles per year, but if you need a higher mileage allowance, you have the option to buy more miles when you sign.

Lower Payments

Since you're just paying for the right to drive a vehicle for a select period of time, your financial obligation and monthly payments may be reduced greatly. Also, if you have a small down payment, then leasing may be better for you, as there are many leasing options that require $0 down.

Hazard-Free Driving

Because most leases last for a short amount of time, their vehicle normally has warranty protection for as long as you drive it.

True Convenience

When a lease expires, you simply turn in your vehicle and pay off any remaining fees (such as for extra mileage or wear and tear) and taxes. However, if you'd rather not part with your vehicle, you can also take the opportunity to purchase it at a preset price. In either case, there's no need for you to sell it or trade it in unless it benefits you.

WHY BUY A VEHICLE?

Ownership

Ownership is the main benefit of buying your next vehicle rather than leasing it. If you are planning to keep your vehicle for an extended time or for as long as possible, then buying is the better option for you. Plus, buying instead of leasing provides you with the freedom to customize your vehicle to match your needs.

No Mileage Limitation

When financing your vehicle, you are accountable for the miles you drive and don't have any regulation in that area like you would with leasing. When leasing, you have to figure out in advance how many miles you’ll drive each year. Ownership allows you to drive as much as you like without collecting fees.

Payment Flexibility

When purchasing a vehicle, you can pay with cash or finance. If you pay with cash, you become the owner of the vehicle and don't have to worry about monthly payments. If you decide to purchase a vehicle by using a finance program, you pay off the loan over a prolonged period of time. For the best outcome when financing, we highly recommend that you find the most affordable, reliable and competitive rates out there, like what we offer here at Gettel Hyundai of Sarasota.

True Freedom

At the completion of your payment schedule, often in four to six years, you own your vehicle. You can continue driving for as long as you want without any further payments, or choose to sell or trade whenever you like.

If you’d like to learn more about buying versus leasing, would like to check out our wonderful selection of new models and quality pre-owned vehicles or are interested in learning more about your lease-end options, feel free to contact us directly or visit us at 3500 Bee Ridge Rd., Sarasota, FL 34239 for a test-drive today. We look forward to serving our customers near Venice.