At our Bedford OH Hyundai dealership, we regularly work with shoppers who are looking to lease a new Hyundai rather than buy one. On this page well answer all those questions you have about leasing, that way you'll feel empowered and prepared when you drive in from Shaker Heights to shop our selection of Hyundai sedans, hatchbacks, and crossovers!
Before we go into the leasing FAQ, we'll discuss the differences between buying and leasing so you can choose the best way to commute from your home in Parma OH.
It's very similar to buying a vehicle. Either online on in person, you'll shop our inventory and fill out a financing application. Then, you'll go on a test drive and go over the numbers with a member from our financing team. This includes the monthly payment, reviewing any protection add-ons, and learning all about Hyundai's America's Best Warranty! You'll have the vehicle for three-years, and afterward you'll return it to us or, if you move a few hours or states away, another Hyundai dealership.
You are responsible for service and upkeep, and ideally they should be undertaken by our Hyundai service centers to not void the lease agreement. It's also important to remember that with a lease you can only use OEM-specific parts and accessories. The good news is that most leases only need to get a once yearly oil change and perhaps a tire change over during the winter.
Hyundai of Bedford
18300 Rockside Rd
Bedford, OH 44146
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Leasing is better than buying for customers who like to switch things up often. Leasing also is perfect for shoppers with a smaller budget, as leases can cost about 1/2 of what a monthly payment would be for buying a Hyundai.
If you pay your auto loan on time, then leasing is great for your credit! That's why we often suggest leasing for young professionals that need a reliable vehicle to get to work but a.) don't have the biggest budgets or b.) are looking to build their credit for those future big purchases, like condos or starter homes in Cleveland OH.
You should get paperwork from Hyundai about six-months prior to returning your lease, that way you have time to think about your next move.
At the end of the lease you can do one of two things. Most people turn their lease in. We'll review the vehicle for damage beyond wear and tear, check the mileage, and insure your payments are taken care of. You don't need to get your vehicle detailed before returning it, but we suggest a good vacuum, wipe down, and basic car wash. Then you're free to shop for the next vehicle you want to lease or go to buying if it seems like a better fit.
You can also buy out your lease. Some people simply fall in love with their leased Hyundai and want to keep it, though remember it's not as financially savvy to buy out a lease than buy a vehicle from the get go. That said, lease buyouts mostly happen with people who went over their mileage or have notable damage and cannot/don't want to deal with the bill. At this time, we'll look over your paperwork and give you the new monthly payment.
For more information on leasing a Hyundai, or if you want to be doubly sure that leasing is better than buying for your unique situation, visit our dealership! We're happy to answer any questions and help get you into a fantastic new Hyundai.
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