Should I Buy or Lease?
So, you’ve found the new or used Kia you’ve been looking for around Edwardsville and Alton, but now you have to make a decision on how you want to purchase the vehicle. Well, two of the most common options are buying and leasing. But, what are the benefits of leasing vs. buying a car? Well, it all boils down to what your needs are, what you can afford, and what you want. Federico Kia is here to break down the benefits of leasing vs. buying a car.
Benefits of Buying vs. Leasing a Car
When it comes to leasing vs. buying a used car or new car, many customers will not even step foot into a dealer unless they know they have enough money to pay for the vehicle they want to purchase. And, while newer payment methods ensure you don’t have to spend years saving up, this trusted way of getting the vehicle you want has several advantages:
- No Mileage Restrictions: If you’re driving your vehicle long distances inside and outside of the Godfrey area, you may want to consider buying. Without the mileage limits you get on a leased vehicle, you’re free to drive as much as you want.
- Total Ownership: Buying a vehicle means it’s yours completely. This means you are free to do with the vehicle what you please. There are no restrictions on how it’s modified, decorated, etc.
- Customization: Want to make your new vehicle stand out among the crowd? Buying rather than leasing allows you to make cosmetic and mechanical changes as you see fit. Create the car of your dreams without restriction.
- Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
- Financing Options: While leasing isn’t a massive headache, the car financing process is more straightforward, and generally open to those without perfect, or great, credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.
- Less Cost Over Time: Though buying a new car is more expensive in the initial period, it is less troublesome in terms of cost over time as you work towards paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.
Benefits of Leasing vs. Buying a Car
Instead of wasting time and saving up to buy a brand new vehicle, why not try leasing, which enables you to have lower payments and stay in the latest models on the market. Check out some of the incredible benefits of leasing a vehicle at Federico Kia:
- Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.
- Fewer Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
- Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local Wood River dealership, pay any remaining fees, and drive away in your next vehicle of choice.
- Great Coverage: Warranty coverage and maintenance is a breeze when leasing, as an issue that pops up under your warranty, as long as you don’t go over the mileage limit, is covered.
- Options: Leasing allows you to stay in the newest models with the most up-to-date tech every time you lease a new vehicle. You’ll have tons of options and will be able to find the perfect model and features for you.
- High Approval Rate: While you may be denied for a car loan, it is much easier to get approved for a lease, as even those with poor or no credit can be approved.
Explore Leasing and Financing Options at Federico Kia
Ultimately, when looking at the benefits of leasing vs. buying a used car or new SUV near Edwardsville, the decision should be your own. Our dedicated finance team is here to help you get starting on buying your next Kia vehicle or leasing one of our popular models, but the final decision will always be up to you. Contact us today if you have any questions or schedule a test drive near Godfrey!