Williams Hyundai is Here to Help You Understand Your Auto Financing Options

Are you into long-term commitments or do you like having a new vehicle every few years? Do you rack up the miles or does your vehicle mostly sit in the driveway? These are just two of the questions you’ll want to have answered as you decide which vehicle financing options are right for you. Williams Hyundai in Lansing wants to help make this process as easy as possible, so we’re here to give you some of the questions you should be asking yourself as you make your final decisions.

How Much Do You Drive?

This might seem like a strange one at first, but drivers from Owasso to Ann Arbor have made the mistake of not asking it and found themselves in sticky situations. Knowing how much you drive is key because it is the primary driver of the loan vs. lease decision. Loans have no mileage limit, so you’re free to drive between East Lansing and Flint as often as you’d like without any worries. On the other hand, leases require you to stay below a certain mileage per year, so if you do frequently travel long distances or have an extended daily commute, this may not be the option for you.

How Rough is Your Lifestyle?

This deals less with how you drive and more with what you use your vehicle for. If you frequently have children or pets in the vehicle, the potential for damage or permanent stains may mean that a lease isn’t the best choice. Lease return inspections check for such things, and you will have to pay a penalty for any damage done to the vehicle beyond typical wear and tear. If this is you, a loan is likely a better option to help you avoid such restrictions.

How Much Are You Willing to Pay?

This one is a little less clear cut, but there are some general rules that can help point you in the right direction. Typically a lease requires a down payment while your monthly payments remain lower than with traditional financing. However, traditional financing does give you the opportunity for a zero-down option if you’re willing to support a higher monthly payment.

Visit Our Dealership Today!

Whether you’ve already decided you still need more help, visit our dealership in Lansing today and our dedicated finance team will help set you up with the terms that best fit your lifestyle.