Buying vs Leasing

Buy vs. Lease | Lake Norman Hyundai in Cornelius NC

Should I buy or should I lease?

Which is best? That depends on your needs. Let’s break it down.

When you buy a car:

  • You pay the entire cost.
  • The mileage you put on it doesn’t matter or how long you keep it.
  • If kept less financed term, trade value is subject to market conditions.

When you lease a car:

  • You only pay the part of the car’s value that is used during your lease term (i.e., its depreciation).
  • There is a term agreement for the number of months you lease (usually between 24-36 months); in addition, there is a cap on the number of miles you can put on your leased vehicle without penalty.
  • You are required to make only a small down payment (1-2 monthly payments in advance) or no down payment.
  • Damage reported to Carfax, if properly repaired, does not affect you.

Buying may be best for you | Lake Norman Hyundai in Cornelius NC

Buying may be best for you

If you plan on keeping your vehicle 5 years or longer or drive a lot of miles every year.

Leasing may be best for you | Lake Norman Hyundai in Cornelius NC

Leasing may be best for you

If your annual mileage in 15,000 or less, and you like to drive a new car every 3 years.

Lake Norman Hyundai

20520 Chartwell Center Drive
Cornelius, NC 28031
Driving Directions
Sales 704-368-5277704-912-0396
Service 704-848-5062704-912-0397
Parts 704-755-6139704-912-0398
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 - 7:00PM
Sunday 1:00PM - 5:00PM
Monday 7:30AM - 6:00PM
Tuesday 7:30AM - 6:00PM
Wednesday 7:30AM - 6:00PM
Thursday 7:30AM - 6:00PM
Friday 7:30AM - 6:00PM
Saturday 8:00AM - 4:00PM
Sunday Closed
Monday 7:30AM - 6:00PM
Tuesday 7:30AM - 6:00PM
Wednesday 7:30AM - 6:00PM
Thursday 7:30AM - 6:00PM
Friday 7:30AM - 6:00PM
Saturday 8:00AM - 4:00PM
Sunday Closed