Category Archives: Car Financing

White 2020 Hyundai Elantra driving along a highway

Where can I find Hyundai payment deferment offers in Salisbury, MD?

Hyundai Assurance Payment Relief Program in Salisbury, MD

With the financial impact of COVID-19 being nothing to scoff at, many automakers have provided appealing payment deferment offers to help prospective buyers and current customers alike deal with these unforeseen economic difficulties. One automaker to offer some great potential solutions is Hyundai. Where can one take advantage of the enticing Hyundai deals brought on by the coronavirus pandemic in Salisbury, MD? Continue reading

Hands sign a lease offered by a suited gentleman.

Where can I find December 2019 lease deals on new cars in Salisbury, MD?

Leasing a car can be a good option for those who like to stay up to date with the latest models. It’s even better when you can get a great rate. Where can one currently find lease deals on new cars in Salisbury MD?

December 2019 Lease Specials at Pohanka Hyundai

Here at Pohanka Hyundai, our lease specials are constantly changing. For December 2019, we’ve got a variety of great specials going on. Most of the current offers end on January 6, 2020, so hurry in! Read on for details.

View Our Current Manager’s Special Offers

Lease specials at Pohanka Hyundai span a variety of new Hyundai models, which means shoppers can choose from a varied selection of body types, capabilities and prices. It’s because of this that we believe we can provide the perfect vehicle for every shopper.

Current specials as of December 2019 apply to certain models from both the 2019 and 2020 model year. Offers apply to such favorites as the 2020 Hyundai Elantra GT, 2020 Hyundai Tucson, 2019 Hyundai Kona, 2019 Hyundai Santa Fe, and many more. Do note that the lease offers apply to specific trims of these vehicles.

Not looking to lease? Check out other current incentives.

What’s in the fine print?

The leases listed on our Manager’s Special Offers page are available to well-qualified lessees, and are valid only when financed through Hyundai Motor Finance. For those with lower credit ratings, higher lease rates apply. No security deposit is required.

At the end of every lease, the option to purchase the vehicle is available. If the lessee opts not to do this, they’re charged 20 cents for every mile exceeding 10,000 miles per year. They also receive any excess wear and use charges, along with the disposition fee.

Leasing or Buying | Which is Best for Me?

2016-Hyundai-ElantraWhen it’s time to upgrade your vehicle, you might start to wonder whether you should lease or buy. There isn’t a right or wrong answer, since both options come with pros and cons, but researching the advantages of each can help you decide whether buying or leasing is right for you.

Benefits of Buying

Buying a car is the only option if you plan on keeping the vehicle for a long time. Because you end up owning the car once you pay off the loan, you can look forward to a payment-free future – at least until you buy your next vehicle.

Anyone planning ahead and budgeting for the next several years will probably like the idea of not having a car payment further down the road, which is why purchasing a vehicle tends to be the best choice for most drivers.

Drawbacks of Buying

It’s difficult to predict what your car’s resale value will be years from now. What if you end up having to trade it in or sell it? You’ll be hit with an unknown amount of depreciation.

Most lenders also require that you place a down payment when buying a car. This generally means having to save 10 to 20 percent, which often translates to a few thousand bucks. Most people simply don’t have that kind of money in the bank.

It can also be difficult to qualify for a loan that offers good rates, which can get your monthly payments down to an affordable amount. If your loan doesn’t have a decent interest rate, you could be faced with having to refinance down the road.

Benefits of Leasing

One of the main benefits of leasing a car is that you can get more car for less money. Leasing is similar to financing in many ways, but rather than being based on the car’s full retail value, a leasing contract is only based on a percentage of the car’s price. More specifically, you’d only be making payments on the amount the car is expected to depreciate during the time you drive it.

In many cases, leasing doesn’t require a down payment like auto financing does, so you can negotiate the lease and drive off the lot without spending any money. Most leases also last about three years, so you never have to worry about the warranty running out.

Drawbacks of Leasing

Failure to abide by maintenance agreements, such as oil changes and tire rotations, can result in fees at the end of the lease. Your lease limits the number of miles you can drive, so you’ll need to estimate how many miles you drive annually before signing the agreement. You’ll also need good credit to qualify.

At the end of the day, you’re really just renting your vehicle with a lease, which isn’t necessarily a drawback in and of itself, until you consider that you’re paying interest on that rental without building equity.

There’s no easy answer when it comes to buying versus leasing, so study your options, go over your budget, and review your credit history to see what your options are.