Should you buy or lease your next Kia?
One choice that you must make when getting a new Kia is whether or not to lease or buy. Both options offer pros to drivers who can take advantage of them, while both also have some cons. If you’ve never explored these options before, read on to find out more or call our financial specialists at 315-701-5898.
Buying a Kia
When you buy a Kia, you take out a loan for the entire cost of the vehicle. At the end of the loan’s term, you will own the vehicle. That means, as long as you drive it after the loan is paid off, there will be no payments. For many, that is a huge advantage of buying a vehicle, especially for people who like to drive the same vehicle for a long time.
When you buy your vehicle, you’re also able to customize it as you see fit. If you are a person who really likes to make your car your own, buying your vehicle is a good choice. Furthermore, if you commute for a long way each day or take many road trips, you’ll want to purchase your vehicle since lease agreements come with mileage limits.
Leasing a Kia
Leasing a Kia is more like renting the vehicle. You pay only for the depreciation on the car while you drive it which means you often pay a lower monthly payment than you would if you purchased the car. Most lease agreements also don’t require a down payment so this is a great option if you want a newer car on a tight budget.
Leasing is also a great option if you always like to drive the newest vehicles. At the end of your lease term, you’ll turn in your Kia and can begin leasing a new Kia! Do not decide to lease if you put a lot of miles on your car or if customizing is important to you.