Should I Lease or Buy a Hyundai? Mike Miller Hyundai Can Help You Decide


Are you in the market for a new Hyundai in Peoria, IL? If the answer is yes, then you have plenty of things to consider! One of the biggest decisions you'll need to make is whether you want to buy or lease your next vehicle. Sometimes this is obvious, but sometimes it needs a little further investigating. The team at your local Hyundai dealer Mike Miller Hyundai is happy to help! We've compiled some of our expertise here so you can consider this big decision from all angles and perspectives, and we hope it's helpful in your journey to finding your dream Hyundai.

When You Should Lease

  • ·When you have current pressing cash needs. Leasing tends to require not only lower down payments at the initial signing, but also lower monthly payments throughout the duration of the term. That's because you're only paying off the depreciation of the car, rather than its entire value as you would when purchasing.
  • ·When you drive your vehicle approximately 15,000 miles per year. Lease terms tend to specify mileage restrictions somewhere around this average.
  • When you keep your car in pristine condition. If you take excellent care of your car and there's little to no risk of damage to its interior or exterior, leasing is a great option because you know you'll be able to return it in the same state it was in when you drove it off the lot.
  • ·When you get the "new car itch" on a regular basis. Boredom is no crime, especially with the auto industry churning out so many exciting new models year after year. When you lease, you can drive a snazzy new 2013 Hyundai Elantra for a couple of years, then simply stroll into the dealership when your term is up to replace it with the next big thing - no selling or trade-in required.

When You Should Buy

  • ·When you're motivated by equity. Buying a car means that all your monthly payments are leading up to one exciting incentive: ownership.
  •  When your life lacks stability. If you're planning a career change or a big move in the near future, buying a car is a good choice because you won't have to worry about the fees that are associated with breaking a lease contract.
  •  When you drive significantly more than 15,000 miles per year. Many lessors will charge extra if you end up driving more than the mileage dictated in the lease agreement.
  • ·When you drive significantly less than 15,000 miles per year. You might find yourself paying for depreciation you're not causing if you drive less than the mileage dictated in the lease agreement, which is simply financially wasteful.
  •  When you know your car needs to be a survivor. If you've got rowdy kids, messy pets or tough jobs to tackle, there's a good chance you'll be inflicting some damage on the interior of your vehicle. Play it safe in this situation; just remember the old rule of thumb, "you break it you buy it."

Financing a Hyundai in Peoria, IL

Hyundai is famous for making decisions harder than ever. The popular 2013 Hyundai Elantra, for example, now comes in three different body styles as well as various trim levels:

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So when it comes to making the decision between buying or leasing, the team at Mike Miller Hyundai sympathizes with your struggle! If you need assistance, the finance team here at your local Peoria Hyundai dealer is more than happy to help. We do our best to make financing easy, starting right here on our website with our online finance center, where you canapply for auto financing from the comfort of your home. Be sure to take ourbuying vs. leasing quiz, try out ourpayment calculator tool and read up on some financing tips and advice before you apply. Of course, convenience isn't the only reason why financing a Hyundai at Mike Miller Hyundai is such a great idea; we also offer frequent finance specials that help you get a great deal on a Hyundai in IL.

Ready to get the ball rolling on your next Peoria Hyundai lease or loan? Please don't hesitate to contact Mike Miller Hyundai at your earliest convenience. From our central location on W Pioneer Parkway, we're proud to serve as your local Hyundai dealership and trusted one-stop shop for auto sales, service and financing.

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