What are the Benefits of Leasing vs Buying?

There are plenty of ways to get in the driver's seat of your favorite vehicle. One route many Dix Hills and Babylon, NY drivers take is through an outright vehicle purchase after going through the auto loan process. However, leasing a Genesis sedan is a great choice for drivers looking to collect on high-tech gear and a premium ride, but who aren't looking for a rock-solid commitment in the long term. Browse through our new model inventory after reading up on the leasing and loan process below.

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.

So, who might benefit from purchasing a Genesis sedan instead of leasing the model? If you're looking for a stress-free process in the long term, choosing to own a model might be the proper route to take.

Visit Our West Islip Dealership for Your Next Genesis Model

Make your way from Brentwood, NY, Lindenhurst, NY or Bayshore, NY to explore our new inventory. Please consider visiting our finance center to learn a bit more about the auto financing process and the competitive lease and loan offers we're proud to boast here at Genesis of the South Shore. If you have any questions or comments, please fill out this simple and easy-to-use form and we'll reach out to you shortly. We anticipate your arrival and look forward to working with you!