Lease vs. Buy: What’s the Best Option for Your Kia?

December 9th, 2024 by

Choosing between leasing a new Kia or buying a new or used car depends on your personal needs, preferences, and financial situation. At Ed Voyles Kia in Smyrna, GA, we offer a wide range of options to suit any lifestyle. By understanding the factors below, you can make the best decision for your goals. Of course, if you have any questions, please feel free to contact our team for individualized help.

Monthly Payments

If you’re looking to save money on monthly payments, leasing a new Kia vehicle typically comes with lower monthly payments (and reduced sales tax) as you only pay for the vehicle’s depreciation during the lease term. Buying a new Kia involves higher monthly payments since you are purchasing the vehicle outright. In return for these higher purchase payments, you build ownership equity over time. Both options offer competitive terms, and our team ensures flexibility in finding a plan that fits your budget.

Ownership And End of Term 

When you buy a Kia, you own the vehicle outright after your loan term ends. You’re free to keep driving it without monthly payments as long as you can, or you can use it as a trade-in vehicle to buy a new ride and start a new loan.

On the other hand, you do not own your vehicle at the end of a lease, you return the vehicle at the end of the term or purchase it for a predetermined price. This makes it easier to move on to a newer Kia and enjoy the benefits of driving a new car without owning it. This lease option can appeal to those who prefer upgrading to the latest models frequently and enjoying new engineering and technology.

Mileage  

Leases often have mileage restrictions, typically ranging from 10,000 to 15,000 miles per year. Buyers, on the other hand, do not face these limits, making ownership a better option for high-mileage drivers. It is important to consider how much you drive before making your decision — a lease might not be for you if your lifestyle includes a love of long road trips or a large daily commute.

Upfront Costs  

Leases generally require lower initial costs, often limited to a down payment and the first month’s fee. Buying typically involves a higher down payment, but that allows for increased flexibility in long-term ownership strategies. 

Getting a New Car  

Leasing offers the opportunity to regularly drive the newest Kia models and enjoy the latest technology. Buyers can upgrade at their own pace by trading in or selling their current vehicle when ready for a new one.

Personalization and Wear and Tear

Leasing restrictions limit major vehicle customization and assess wear-and-tear fees upon return. Some adjustments might be allowed, but lease customers need to consult with our dealership team first. Buyers have the freedom to personalize their Kia vehicle to fit their style, with the only limitation being the effects any changes might have on trade-in or resale value down the line. 

Whether you choose to lease or buy your next Kia vehicle in Smyrna, GA, Ed Voyles Kia provides unparalleled flexibility, expert guidance, and unmatched customer service. Visit us today to explore our extensive inventory and find the Kia that suits your needs.

Posted in Kia Information