The Answers to Car Lease FAQs

When discussing new vehicle ownership, most people think about purchasing a vehicle outright. Concepts such as length of loan and interest rates are the key topics and are things most people are familiar with and associate with getting a car. However, leasing a vehicle can be a better solution for many people, even if it is poorly understood. Listed below are some of the answers to frequently asked questions regarding leasing. Take a look and see if leasing might be the better option for you.

Hyundai Steering Wheel

What happens when my lease is up?

There are a few end-of-lease options, depending on what your particular circumstances and preferences are. If you enjoy leasing and like to stay in the most up-to-date vehicles, you can return the vehicle to your Hyundai dealer and lease another vehicle of your choice. On the other hand, if you have fallen in love with your particular vehicle, you can create a finance plan to purchase it in the long run. There are no obligations at the end of your term, meaning you can also just return it and move on.

What are my driving restrictions?

Leasing a vehicle generally accompanies some limitations on how you can drive it. While these limitations are necessary, they are reasonable and easy to maintain for drivers who use it for basic commutes and short trips. There will be a pre-determined mileage limit for each year, usually with the option of purchasing additional miles at the time of the agreement. If you exceed the mileage, a simple per-mile charge is specified in the contract that will allow you to plan accordingly. Additionally, you won't be allowed to make alterations or customizations to the vehicle.

Payments?

The big question on any car buyer's mind is how much money it will cost them each month. Leasing payments are lower than monthly financing and the obligation timeframe is less as well. Typically working on a 2 to 3-year term, Hyundai leasing options are flexible and less expensive than traditional financing.

What about Maintenance and Repair?

Leased vehicles rely partially on proper maintenance to keep their value and ensure lower costs for everyone. The cost of this maintenance is often covered by the dealer and factored into your monthly payments, providing you with free appointments. Discuss this with your dealer for more details.

Leasing a vehicle is not for everyone, but it is a powerful and fun option for those who it can accommodate. If you are interested in discussing lease options or would just like to browse some Hyundai models, we encourage you to visit Island Hyundai at 1590 Hylan Boulevard in Staten Island. Come see us!

Categories: Finance, New Inventory

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