Trying to Decide Between Purchasing and Leasing Your New Kia? Let the Finance Professionals at Schaumburg Kia Help You Make Your Decision

Many Addison, IL drivers spend hours agonizing over the decision whether to buy or lease their new Kia car, SUV, or minivan. It's a big decision; one of the biggest, regarding financing, that many Arlington Heights, IL customers will make. What is the right choice? Is it better to buy or lease a new vehicle? The truth is that the answer to that question is very much dependent on the lifestyle and budget of the person asking it. The finance team at Schaumburg Kia, located at 1100 E Golf Road in Schaumburg, IL, is here to give you some facts about each option so it can make your decision easier.

The Facts About Leasing

At its core, a Kia lease allows Elgin, IL drivers to finance a new Kia car, SUV, or minivan at a low monthly payment. This finance agreement is for a short period of time and has a predetermined mileage limit. The low monthly payment can be achieved because drivers are only financing the amount for the period of time they have the vehicle. In addition to the low monthly payment, other advantages of leasing include warranty coverage for the time you have the vehicle and the ability to get a new vehicle every couple of years without the worry of negative equity, which often happens to drivers who trade out of a new vehicle after a short period. Drivers who lease tend to drive 15,000 miles a year or fewer and aren't interested in personalizing their new Kia.

The Facts About Purchasing

When a Hoffman Estates, IL customer gets an auto loan for a new Kia car, SUV, or minivan, they will own that vehicle once it is paid in full. This is different than a lease agreement. Folks who get traditional financing for their vehicle don't have to worry about mileage restrictions or damage fees, but if they trade in their car after a few years, they will probably have substantial negative equity. On the plus side, once the car loan is completely paid, they will have positive equity in that vehicle that they can use toward the purchase of a new one.

Helping Your Make the Decision

Sometimes, the current Kia financing specials can help someone make their decision. Contact the finance professionals at Schaumburg Kia, in Schaumburg, IL, today and learn which Kia promotions are currently being offered that might apply to you.

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