Should I Buy or Lease?
Most people know some of the advantages of purchasing a vehicle, but what about leasing? Is there a difference between the two? And which is better for you long-term? At Gettel Kia of Bradenton, we understand that it’s a big decision whether to lease or buy. That’s why we’ve done some research to gather the pros and cons of each option. If you happen to have further questions, our Finance Department is here with answers. To learn more about the advantages of buying or leasing your new vehicle, keep reading!
Why Lease
a Vehicle?
Minimal Upfront Cost
Essentially, when you lease a vehicle, you’re renting the right to drive a particular car, truck or SUV with the knowledge that you’ll return it to the dealership at the end of your agreed lease period. Because of this, your financial responsibility and monthly payments may be reduced. And with our new car specials, we sometimes run lease deals that include no down payment, or $0 down, to begin your contract. This means upfront costs for a lease can be little to none.
Lifestyle Flexibility
Generally, lease periods run anywhere from 24 to 60 months, allowing you to make affordable payments with shorter terms. You usually are allotted between 12,000 and 15,000 miles per year, but you can purchase more miles at signing if needed. With leasing, you have the ability to drive a new vehicle every few years without the hassle of selling or trading, while still maintaining the option to buy your Kia at lease-end if you’ve fallen in love with it.
Warranty Protection
Because most leases last between two and three years, your new Kia could still be covered under its original warranty for the duration that you drive it. You also have the option to purchase our Lease Excess Wear & Tear Protection Plan, which covers you on the cost of everyday dents and scratches. With a lease, you don’t have the same financial burden as purchasing a vehicle.
Why Purchase
a Vehicle?
True Freedom
On the other hand, ownership is a big benefit. When you’ve paid off your vehicle, it’s totally yours to sell, trade or keep for years to come. You have complete freedom to keep your car as long as you want. Plus, you have the option to paint or customize your vehicle, such as adding accessories. Owning is a win-win investment that leasing can’t offer.
Financial Flexibility
Despite the fact that most automotive loans require a down payment, purchasing may be more financially responsible in the long term. You have more financing options than leasing, such as deciding to purchase the vehicle outright with cash. Or, you can finance through us here at Gettel Kia of Bradenton or another lender. Another big benefit to purchasing is the fact that your money is secured when you keep your vehicle, like a good return on an investment. With leasing, you’re basically losing out on your money when you return the car.
No Mileage Restrictions
Once you’ve paid off your loan, you have total ownership. That means no mileage restrictions or fees for going over, and no need for permission to leave the country with your vehicle like a lease requires. Ownership means financial freedom from lenders and the satisfaction of independence.
If you’re ready to be the proud owner or lessee of one of our new models, or are interested in learning more about your lease-end options, feel free to contact us online or visit us at 6423 14th St W, Bradenton, FL 34207. We look forward to serving customers from Gainesville, FL, near Venice and Sarasota.
