Buy Vs Lease | Fall River, MA

  

When the time comes for you to bring a new car into your life, the first choice you need to make is whether you want to buy or lease. Fortunately, we will compare the two choices and help you decide which option is the best fit for your lifestyle.

Buying

Most customers choose to buy their new car, and most will take out an auto loan to do so. When you buy a new car, you will make monthly payments until your loan is paid off. Monthly payments on a loan tend to be higher than they would be for a lease on the same car. However, once you pay off your loan, you will own the car outright.

When you buy a car, you are free to do what you want with it-you can drive as much as you want, make modifications to the vehicle, and even sell it or trade it in whenever you want.

One downside to buying is that many lenders require a down payment of 10-20% when taking out a loan on a new car. This could mean that you would need thousands of dollars up front.

Leasing

For people who like driving a car with the latest technology and safety features, leasing is a good way to get a new car every few years. The average lease contract lasts around 36 months.

You will make monthly payments based only on the expected amount of depreciation that happens while you have the car. Because of this, your monthly payment will likely be a lot less than if you had decided to buy the same car. This means that many lessees are able to afford a nicer car than they would have been able to if they had taken out a loan.

However, there are some downsides to leasing. For starters, lease contracts include mileage restrictions, and you can't make any modifications to the car.

At the end of the lease, you can simply return the car or negotiate a purchase price if you fell in love with it.


Have questions about buying or leasing at Empire Hyundai? Contact us or visit us today at 428 Pleasant Street, Fall River, MA 02721!

Contact

Empire Hyundai Inc.

428 Pleasant Street
Directions Fall River, MA 02721

  • Sales: (877) 242-3314
  • Service: (888) 487-9781
  • Parts: (877) 251-7551

Have Questions About Buying or Leasing?

Hours

  • Monday 9:00AM - 8:00PM
  • Tuesday 9:00AM - 8:00PM
  • Wednesday 9:00AM - 8:00PM
  • Thursday 9:00AM - 8:00PM
  • Friday 9:00AM - 8:00PM
  • Saturday 9:00AM - 6:00PM
  • Sunday 11:00AM - 6:00PM