Buying vs Leasing a New Kia
Buying vs Leasing can be confusing. When you buy a new Kia, it’s yours forever, but when you lease it, you only pay for the time you keep the car. However, there are advantages to each of these options depending on your current circumstances.
Buying or Leasing Advantages
A new Kia car can be an investment that gives you back something once you sell it off. Leasing is comparatively much cheaper, and you may not have to worry about selling it off when you no longer need it. Leasing gives you the advantage of driving the fanciest cars when you want to.
When you own a Kia car, it is yours and yours alone. You own it because you have paid for it entirely, or you are in the process of paying over the years. In contrast, when you lease a Kia car, you do not own it. You are merely renting the car. You are in possession of the car for a specified time frame against a set amount of monthly payment till the contract period.
Costs and Value
When you purchase a Kia car, you either pay the entire price, or you pay some upfront price and regular EMIs to your lender. You do not have to make a down payment when you lease a new Kia car but only the first month’s payment along with some other costs, including a security deposit.
The value of a purchased car begins to depreciate as soon as you own it. Nonetheless, you can sell off your car anytime you may want to. When you lease a Kia car, no future value accrues to you. On the contrary, when you deposit your car to the lender, you may have to pay for any excessive use beyond those specified in the contract.
If you would like to know more about the features of the Kia Models, including buying vs leasing information, or if you would like to test drive the vehicle, head over to our Gateway Kia of Warrington dealership in Warrington, PA, today. We are just a brief drive away from Jamison, Hartsville, and Warminster, the cities we serve.