Torn Between Buying a Car and Leasing? We Help You Weigh the Pros and Cons

Drivers in the coastal South Carolina and Georgia area already know they can count on us here at Peacock Hyundai Hilton Head for a great selection and expert auto financing advice.

Our finance center professionals have been working with Hardeeville and Bluffton area banks and financial institutions for years to help drivers secure the best loan rates and lease deals for their budgets.

But, what if you're not sure what type of financing you want? What if your torn between leasing a new car or purchasing it? Don't worry, we can help with that, too.

The finance center here at Hilton Head Hyundai has put together this comprehensive guide to leasing vs. buying, to help our customers throughout Hilton Head Island and Bluffton know all of their options and what each type of financing situation means for their lifestyle.

 Leasing a New Car

At Peacock Hyundai Hilton Head, we like to think of leasing a new car as being similar to renting an apartment or house. You agree to use and maintain the item, and pay a monthly installment for it, but, it belongs to someone else.

Leasing a car from us here at Peacock Hyundai Hilton Head means you get a brand new, current model year, Hyundai car or SUV or crossover at a price you'll love and little to no down payment.

Some of the benefits of leasing a car include:

  • You may be able to get a more expensive model with better features with a lease deal than you would if you were buying it
  • You pay less sales tax
  • Hassle-free return of the car when the lease term is up
  • Lower repair and maintenance costs, thanks to the manufacturer warranty
  • You get a brand new car to drive every couple of years as your leases expire and you get new ones

Plus, every car depreciates rapidly, especially when it's driven off the lot as a brand-new model. By leasing the vehicle instead of buying it, you won't have to worry about absorbing this depreciation.

Despite all of the wonderful benefits to leasing a car, there are a few drawbacks you should be aware as well. These include a limited number of miles you're allowed to put on the vehicle, the fact that you're not allowed to personalize or customize your car at all, and the fact that you won't get to keep the vehicle once your payment schedule is over.

Purchasing a Car

A lot of our Peacock Hyundai Hilton Head customers prefer to purchase their new or pre-owned models from us. This also has a number of benefits people love, including:

  • When you're finished paying for the vehicle, you get to own it and do what you want with it
  • You get to personalize your vehicle with all of the accessories, bumper stickers, and custom-ordered parts you want
  • There's no limit to how many miles you're allowed to drive your vehicle
  • You can use the vehicle as a trade-in the next time you're in the market to purchase a car

But, on the other hand, the parts of leasing a car that make that option so appealing are not available when purchasing. This includes having lower monthly payments. When you're paying a loan back your payments are typically larger than with a lease. Also, you may need a significant down payment for a car purchase. Finally, you will be the one to absorb the vehicle's initial value depreciation when you buy a brand new model.

Visiting the Auto Financing Experts at Peacock Hyundai Hilton Head

For the most up-to-date information on pricing for new car sales and the best lease deals around, contact the Peacock Hyundai Hilton Head sales and finance teams. We can help you navigate the sometimes tricky world of auto financing and help you decide which option would work best for you.

Let our finance center guide you through the process step-by-step and answer all of your buying vs. leasing questions along the way. We're here for you seven days a week on Auto Mall Boulevard in Hardeeville.

Make an Inquiry