When you purchase a vehicle with a loan, Hyundai Motor Finance Company or another financial institution pays the selling dealer, on your behalf, for the vehicle you selected and you agree to pay back the money over time. The payback period for a loan is typically up to five years, although some vehicles are being sold with longer-term loans. Interest rates vary depending on a number of factors such as the amount of money it costs the lender to obtain the money, your credit history, your time on the job, your time at your current residence, and other factors affecting he lender's view of the level of risk your personal situation represents. You have ownership and equity in the vehicle. Your monthly payments are working to purchase that car and it's yours to sell or keep as long as you wish.
Monthly payments are generally higher than with a lease.
Control over your vehicle. You can customize the vehicle and add special features. Maximum flexibility regarding the number of miles you drive. No mileage limits.