Lease

Common Leasing Questions

1.What is leasing?  Leasing is a financial option that allows the consumer to pay for their use of the vehicle, rather than the entire vehicle. Payments are based and estimated upon the depreciation of the vehicle during the term of the lease, and this can include borrowing costs. However, these are typically lower than those associated with a vehicle purchase loan.

2.How many miles per year can I drive?  Leases have an annual mileage limit since a vehicle’s mileage affects its resale value. Although, there are various annual mileage limits along with the option to purchase additional miles. This allows leases to be created to suite any driving needs.

3.Do I need good credit to lease a vehicle?  A good credit history will help, but it’s ultimately up to the banks and Kia Motors Finance to determine if a lease is available to the individual or individuals involved.

 

Leasing offers affordable payments with shorter terms. This enables you to:

• Consider models with more options.
• Most leased vehicles are under warranty for the term of the lease.
• Get behind the wheel of a brand-new car!

Options at the end of your Lease:

• Choose to purchase the vehicle and keep it.
• Choose to purchase the vehicle and sell it.
• Apply to the equity in your next vehicle.
• After paying outstanding fees you can drop off the keys and walk away.

Benefits of Leasing:

• Shorter terms with more affordable payments.
• Almost all leases are written within the factory warranty period. This allows you to avoid potentially costly repairs.
• Avoid negative equity.

 

Buy

Conventional loans often require longer terms to reach affordable payments. This keeps you:

• Driving the same vehicle longer.
• From trading into a new vehicle sooner.

Conventional loans also come with obligations when you trade You might have to:

• Having to pay the total cost of your vehicle, regardless of the value (being “upside down”).
• Take on entire risk of unexpected depreciation.

 

Need more information on Kia leases or current Kia lease specials?

Hart Kia will be happy to walk you through the pros and cons of both buying and leasing your next vehicle. Lease specials will very monthly we welcome our friends to call or visit Hart Kia today to learn more!