Leasing vs. Buying a Car in Baltimore, MD

Are you planning on getting a new Hyundai car or SUV for your busy lifestyle? Before you sign, you should consider whether leasing or buying a vehicle is best for your budget. The differences between buying and leasing a vehicle are vast, so to ensure you're making the right decision, take a closer look at each option with the help of our lease vs. buy guide.

Before you read on, check out the new vehicle inventory at our Hyundai dealership in Baltimore, MD for models that are available to buy or lease.


Advantages & Disadvantages of Buying a Car

Advantages

  • You are able to customize the vehicle to your exact liking.
  • If you finance the vehicle, you will own it after you make your last payment and are free to sell or keep it.
  • Drive wherever you'd like, whenever you'd like. There are no mileage penalties or restrictions when you buy.

Disadvantages

  • Be prepared for a heftier down payment as well as higher monthly payments. Financing on a new vehicle is for the total value of the vehicle.
  • Maintenance and repairs that aren't covered by the warranty are entirely your responsibility.
  • As soon as you drive off the lot, the vehicle's value will begin to depreciate.

Advantages and Disadvantages of Leasing a Car

Advantages

  • Because you're only making payments on the portion of the car you use, you will have lower monthly payments. Additionally, you'll get more car for your money.
  • Do you love having access to the latest in-car technologies? Leasing is a good option for you because a lease only lasts a few years, and you'll be able to drive a new, updated car more often.
  • Because a leased vehicle is brand new, most, if not all, major repairs will be covered under the warranty. All you're responsible for is manufacturer-scheduled maintenance.

Disadvantages

  • You are limited to a set number of miles under a lease. If you go over the agreed upon mileage, you will likely have to pay a fee.
  • Anything beyond what the dealership considers normal wear and tear is on your dime.
  • Should you decide to end your lease early, there may be some costly charges in store.

Why Choose Thompson Hyundai for Auto Leasing & Financing?

On top of excellent new Hyundai incentives, Thompson Hyundai has an auto finance team eager to help you decide whether leasing vs. buying a car is in your best interest. We also make financing easy for Baltimore, MD area drivers. You can apply for financing from the comfort of your own home. Get in touch with our finance center by sending a message or calling (888) 714-8028 for more information about leasing vs. buying a car.

 

Contact

Thompson Hyundai

1000 Merritt Blvd
Directions Baltimore, MD 21222

  • Sales: (888) 714-8028
  • Service: (888) 778-3698
  • Parts: (888) 753-3272

Hours

  • Monday 9:00 AM-9:00 PM
  • Tuesday 9:00 AM-9:00 PM
  • Wednesday 9:00 AM-9:00 PM
  • Thursday 9:00 AM-9:00 PM
  • Friday 9:00 AM-9:00 PM
  • Saturday 9:00 AM-6:00 PM
  • Sunday Closed

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