If you are looking to upgrade with a new Kia to elevate your Muncie commute, a natural question to ask is, “Should I buy or lease?” Understanding the right automotive and financial path to take can be tricky, especially when you compare leasing vs. buying and discover that both offer tremendous value. Depending on your lifestyle, habits, and automotive needs, one purchase method may be most favorable. Discover the benefits of both when you compare leasing vs. buying with the finance experts at Kia of Muncie.
Compare Car Leasing vs. Buying
Benefits of Buying a Car
No Mileage Restrictions: If you often take long road trips or your daily Marion commute is lengthy, buying is likely your best bet. When you buy, you are free to drive as much as you want without the worry of going over your mileage limits.
Total Ownership: When you take ownership of your ride through financing, you can upfit, accessorize, and customize your vehicle in any way you desire. Our parts specialists can help you achieve the look and feel you crave.
Ability to Sell: If you decide you want to change your ride, you can sell at any time. Since you aren’t locked into a time-sensitive agreement, you can sell your vehicle at your discretion.
Financing Options: The car financing process is familiar and straightforward. While leasing isn’t a big headache, it can be a bit more complicated than a traditional purchase agreement. With financing, you also have the option to refinance as your credit score improves, which can lower your monthly payment.
Less Cost Over Time: The cost to buy a car is front-loaded. While the initial costs may be higher than if you were to lease, once your vehicle is paid off, you can enjoy years of payment-free driving!
Benefits of Leasing a Car
Lower Payments: Securing a new ride through a lease agreement will lead to lower monthly payments, smaller down payments, and fewer overall costs.
Less Sales Tax: In almost every state, the taxes are significantly lower when you lease vs. buy. In many areas, you are only taxed on your downpayment and monthly bill when you lease.
Trade-Ins: The process of upgrading your ride at the end of a lease term is incredibly simple. You only need to bring your vehicle to the dealership, pay off any fees, and drive off in your new ride!
Great Coverage: Warranty plans offered when leasing are substantial and cover a myriad of issues that can pop up. Many maintenance tasks will be covered if you remain under your mileage limit.
Options: When you lease, you can access the latest models, features, amenities, and more without paying a premium price.
High Approval Rate: Drivers who have been denied a car loan can often find an approval for a lease. Shoppers with no credit history or those who are actively improving their credit can secure a favorable lease deal.
Explore Leasing and Financing Options at Kia of Muncie
Now that you have compared the pros and cons of buying vs. leasing, you are equipped to make an informed decision for your automotive and financial future. Both options offer their own respective benefits, but the right deal for your budget and lifestyle may not be the same purchase method as it is for the next person. Explore our latest offers and incentives to find an advantageous lease deal or finance offer.
Still asking, “Should I buy or lease?” Not to worry! You can contact us at your convenience for individualized guidance. If you are ready to get started, apply for financing today!
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