Buying A Cheap Used Car Versus Leasing A New Car

Buying a Cheap Used Car

For many, deciding to seek out cheap used cars in Jenkintown or Willow Grove seems to be the best route.

The benefits of buying a used car include:

• You'll save money on your first payment
• You can commit to a reduced loan
• The insurance rates could be lower given that the vehicle’s value will be lower than that of a new one
• The depreciation will be lower than that of a new vehicle, which means you don't lose as much when selling the used car

The downside of a used car is that you'll be driving a car that might have many miles on it. The reliability of the car could also be an issue plus you'll have to have it inspected by a mechanic if you're buying it from a private party seller.

At Faulkner Hyundai Philadelphia, we thoroughly inspect all our used cars so you can be sure you're getting a quality vehicle. Shop our used cars online and visit us for a test drive.

Leasing a New Car

Leasing new may actually be a beneficial alternative to purchasing a cheap used car in regards to lowering costs. Plenty of people agree that opting to lease a car or truck for a span of two to three years makes for a solid decision financially:

• Down payments on leases are low
• Your payments will be less than a car loan payment
• You will generally not need to be concerned about service fees. This is especially necessary to take into account if you're thinking about buying a cheap used car, which may save you money upfront but present you with trouble in regards to maintenance expenses.
• You will most likely get good lease specials - like you would if you shop our Hyundai Lease Deals!
• You'll get to drive a new car

The downside of leasing is that you have a fixed number of miles that you can drive the vehicle, insurance costs may be higher, and you can't customize the vehicle to your taste.