Leasing vs Financing
Looking for a new ride? Beyond helping you choose which model fits your needs the best, our Sussman Kia team is also here to help you decide which payment plan makes the most sense for your lifestyle.
Take a look below to learn more about the differences of leasing vs. financing a Kia car so you can have a better idea of which option you prefer when you meet with our finance team.
What is a Lease?
Simply put, you can think of a lease like renting an apartment or house. You sign a deal that lets you use it for the duration of your deal. After that time runs out, you rework a new deal to continue to use it or upgrade to your next home or ride.
When you decide to lease a Kia car, you will have a term to your lease. Throughout the time of your term, you will have a set mileage you can drive during the few years of your lease. Then, when your lease finishes, you simply bring your Kia car back to the dealership and do one of a few things. You can either work to finance the Kia car if you want to own it or start a lease in a new Kia and begin the process again.
Benefits of Leasing a Kia Vehicle
There are a few advantages to leasing your new Kia. First, you may be able to comfortably budget for a higher trim level. That is because leases typically provide lower monthly payments and up-front costs. Say hello to those leather seats and high-tech features!
Speaking of technology, leasing a Kia car means you’ll only be committing to driving it for a few years. This means you’ll be able to upgrade your ride every few years, which is sure to have new, innovative technologies added to make your ride even more enjoyable and safe.
Want to Own Your Kia Car?
By financing your ride, you are setting out to own your Kia car. This is done by putting a down payment on the Kia car and then getting the rest of its value covered by an auto loan, which our finance team can help you secure.
Then, you will pay back the lender in monthly increments until the loan is paid off. Once you reach that point, you completely own your Kia.
Benefits of Buying a Kia Vehicle
There are also advantages to choosing this finance plan. It offers its own set of flexibility. When you choose to buy your Kia, you’ll get to drive it for however many miles you like. The places you can go are then limitless—from a short cruise around town to that cross-country road trip you’ve dreamt of!
It also means you can outfit your Kia however you like. This lets you add various accessories to the exterior or interior of your Kia. Eventually payments will end once your loan is paid off in full. At this point, you’ll get to continue to drive your Kia as long as you like with one less monthly bill. You could also sell your Kia at this point and then use what you earn towards your next ride.
Begin the Finance Process on a New Kia
As you can see, each financial plan has its own unique set of benefits, so choosing between leasing vs. financing will come down to your personal preference and needs.
Whichever finance option you’d prefer, our experts here at Sussman Kia can help you out. They can find you an auto loan with a fair rate if you want to own your Kia or develop personalized terms for your lease if you’d like to drive a new Kia every few years around Jenkintown, Rydal, and Glenside. Stop by today to meet with one of our finance team members and apply for financing now online.