Auto Financing Made Easy

Looking for a new Hyundai or used car can be complicated. Should you buy, or should you lease? Should you finance the car or buy it outright? We here at South County Hyundai of Gilroy want to be sure you're prepared to answer the hard questions while looking for your next set of wheels. So, what financial questions should you be sure to know the answer to before buying your next car?

  • What Is A Car Loan?
  • What Is A Car Lease?
  • Which Is Right For You?

What Is A Car Loan?

A car loan is an amount of money you receive from a lending institution which you may then use to purchase a car near Morgan Hill. This value is usually calculated as the total value of the car minus the down payment you can afford. You will then agree to pay back that money over a specified time frame with interest. Your interest rate depends on many factors such as your income, credit score, the size of the loan, and any existing debt you may have.

What Is A Car Lease?

A car lease is another way that you can drive a new Hyundai off the lot at our dealership but there are some differences from buying. With a lease, you never actually own the car. Instead, you make a down payment and then make monthly lease payments so that you can keep the car for a period of time, usually between one and three years. With a lease there is an annual mileage limit which cannot be exceeded by drivers around Watsonville.

Which Is Right For You?

Both of these payment styles have advantages and disadvantages for San Jose drivers. Buying a car allows you to truly own it. You can put as many miles on it as you please and keep it as long as it will run. The downfall to this is that you are usually responsible to either make your own repairs or hire someone to do them for you.

The benefit to a lease is that you get to drive newer cars without the worry of being on the hook for repair costs, including car parts, if something goes wrong as long as it is covered under the lease agreement.

The key for Hollister CA drivers is to choose the option that best suits their specific set of needs and matches their personal relationship with a vehicle. If you need help figuring out which option is best for you, feel free to reach out to the finance team at South County Hyundai of Gilroy.

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South County Hyundai of Gilroy

6700 Automall Parkway
Directions Gilroy, CA 95020

  • Service: (408) 842-0400
  • Parts: (408) 842-0400


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