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Automotive Leasing vs. Financing in Springfield, IL



2017 Hyundai Ioniq Review in Springfield, IL

Have you always financed, but are interested in a great lease deal you saw recently on a new Hyundai model? Have you been leasing for a few years now, but are curious about whether financing makes more sense for you? Are you about to get your first car but unclear on the difference between leasing and financing? Each side has its pros and cons, so before choosing one, you need to consider both your budget and how you plan to use your car. Read our auto leasing vs. financing comparison for details on the different aspects of each method.


Car Leasing vs. Financing: The Differences

Leasing

VS.

Financing

Often none. Voluntarily making a down payment, however, will help reduce your monthly payments.

Down Payment

Depends on the dealership and incentives. Voluntarily making a larger down payment will help reduce your monthly payments.

Small, as they are based only on the vehicle’s depreciation throughout the lease term.

Monthly Payments

Determined by full price of the vehicle and terms of financing offer. Use our payment calculator to estimate yours.

Pre-determined, generally between 10,000-15,000 miles per year.

Mileage Restrictions

None.

Must adhere to manufacturer recommended maintenance schedule, cannot exceed normal wear and tear, and cannot add modifications.

Care and Maintenance

At owner’s discretion.

You will return the vehicle to the dealership, and if applicable, pay any fees for excess mileage or damage. Breaking your lease early will also result in a fee. At this time, you can purchase the car at a pre-determined price, lease or buy a new vehicle, or walk away.

End of Payment Options

You are free to sell the car privately or trade it in to a dealership at any time, but you will only receive the title after paying off your loan.


Contact the Auto Finance Department at Green Hyundai in Springfield, IL!

Our dedicated team of finance advisors can help you learn about the finance and lease offers available right now on the current line-up of Hyundai sedans, hatchbacks, and SUVs. We’ll talk you through your options, answer any questions you may have about the finance and lease process at our Hyundai dealership, and identify the plan that works with your budget.

Want to get pre-approved for financing from home? Fill out the application found here. Want to speak with a member of our team before your visit? Just call (217) 953-0028.