Kia

1890 112th Avenue
Directions Holland, MI 49424

  • Sales: (888) 646-9579
  • Service: (877) 511-1734
  • Parts: (877) 475-6845
  • Ventas Españolas: (888) 504-6983
Info

Lease vs Buy

Should You Lease or Buy a Car?

  
The decision to go out and get a new car is one of the biggest decisions you will ever have to make in regards to a financial investment. Buying a new vehicle can come with hefty monthly payments while leasing one can restrict your freedom to drive whenever, where ever. At Seelye KIA of Holland we know that leasing and buying a vehicle each have their own distinct set of advantages and disadvantages and we want to pass the knowledge to you. We get asked all the time, "which is better, leasing or buying a car?" The truth is, there is no right answer; the decision should be based around your lifestyle and driving habits. Below you will find a basic comparison of the two options to hopefully help you make a decision. 

Buy

Pros:

  • You are the sole owner of the vehicle
  • Able to customize the vehicle anyway you like
  • More cost effective as you can sell the vehicle to get a return on investment
  • No mileage or driving restrictions



Cons:

  • Resale values fluctuate so you will not know what the resale value will be
  • Down payment is typically much larger than a lease
  • Your monthly payments will be higher as you are financing the entire cost of the vehicle
  • Maintenance and repair costs will come out of your pocket unless covered by warranty

Lease

Pros:

  • Lower monthly payments as you are only paying for length of time that you use the vehicle
  • Small down payment required
  • Vehicle is typically covered under the manufacturer's warranty for the life of the lease
  • You can get a different car every few years
  • You are not liable if your vehicle depreciates faster than anticipated 

Cons:

  • There is a monthly limit to the number of miles you can drive
  • Exceeding the mile limit will incur additional fees
  • Theoretically you are renting the vehicle for a few years, so yo do not actually own the vehicle
  • Limited on any custsomizations
  • You won't be building any equity
  • Additional fees for terminating the lease early
Keep in mind that each purchase or lease of a vehicle is unique, but the points made above highlight the prominent pros and cons of each option. As you can see there is no right or wrong answer, rather you should try to apply it option to your lifestyle and driving habits to determine which option would be better for you. Which ever option you decide is better for you, Seelye KIA of Holland will be there to get you into the car of your dreams at a price you can afford. If you have any further questions or would like some advice on which option to choose, please don't hesitate to call us at (888) 646-9579 or Contact Us via the form on this page. 
 

Contact

Seelye Kia of Holland

1890 112th Avenue
Directions Holland, MI 49424

  • Sales: (888) 646-9579
  • Service: (877) 511-1734
  • Parts: (877) 475-6845

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