What is Leasing and Who Might it Benefit?
Before we get down to the nitty gritty details involved with the leasing process, we should cover the brass tacks to ensure you have a solid hold on the benefits this option provides. First off, leasing doesn't require the sort of commitment that buying does as it's restrained to a set period of time. Leasing terms usually last a handful of years and require smaller payments than a month-to-month auto finance plan. In terms of mileage, you will have to consider the amount you drive as there's often a mileage limit (sometimes between 12,000 miles to 15,000 miles). At the end of your term you'll have the ability to either trade in your vehicle to begin a new lease term on a model of your choosing, or simply move on with your life. A final benefit to exploring the leasing route is that you'll have the ability to purchase your vehicle at a discounted rate after the lease period.
Leasing is an excellent option for those drivers looking to secure the latest technology and interior niceties from year to year. Furthermore, if you find that you're a clean and tidy individual who isn't worried about the wear and tear that accompanies daily use, leasing might be a route worth putting some more consideration into.
What is Financing and Who Might it Benefit?
Purchasing a vehicle is traditionally the most common way shoppers secure their favorite models. After choosing to buy a vehicle, you'll most likely need to apply for an auto loan and have a down payment ready. After signing the paperwork, the financial lender will actually hold the title of your Genesis model under you've fully paid off its value. One major benefit to buying a vehicle is that you won't have to worry about rips, tears, spills, and messes. So, if you're the head of a family, or simply tend to find that your vehicle is a bit more unkempt that others, opting to purchase a vehicle might be a good idea as repairs in the leasing period can be costly. Another reason to possibly purchase a vehicle outright is that the odometer on the vehicle is yours to run to its absolute limits! There's no mileage cap when elect to purchase a model.
