Are you on the fence about financing or leasing your next vehicle? Both options have their advantages, so it all depends on your preferences. Let's take a closer look at leasing vs. financing to help you determine the best choice for you.
Why Lease a Vehicle?
Leasing a vehicle is a great option if you like having the latest model car, truck or SUV every few years. It tends to be an ideal driving situation for the following types of drivers in Cincinnati and the surrounding areas:
- Those who want lower monthly payments
- Drivers who prefer always having a car under warranty
- People who drive under 12,000-15,000 miles per year
- Those who like getting a new car every 2-3 years
Tips for Leasing a Vehicle
If you're considering a lease, keep these tips in mind:
- Be aware of mileage limits, which are typically 12,000-15,000 miles annually. If you exceed those limits, you'll pay a fee per extra mile driven.
- Understand wear and tear guidelines. You may be charged a fee for excessive wear and tear at the end of the lease, but keep in mind that you can't customize your vehicle in any way.
- Know your lease terms, including the length of the lease and the amount due at signing. Most leases are 24-36 months.
- Consider gap insurance to cover the difference between what you owe on the lease and the value of the vehicle if it's totaled in an accident.
The Benefits of Financing a Vehicle
Financing is a smart choice if your goal is to own your vehicle outright. When you finance a vehicle, you'll have more flexibility with payment. The longer your terms are, the lower your payment, and the shorter your term, the higher your payment. Financing a vehicle could be a great fit if you:
- Plan to keep your vehicle long-term, usually 5+ years
- Don't mind higher monthly payments
- Drive more than 15,000 miles per year
- Want to customize or modify your vehicle
- Plan to resell the vehicle after a few years and want to build equity
Tips for Financing Your Vehicle
As you explore financing your next car or SUV near Milford, the following guidelines could be helpful:
- Make as large of a down payment as you can afford to lower the amount financed and your monthly payments.
- Understand the differences between loan types, including bank/credit union loans and dealership financing.
- Get pre-approved for a loan before shopping so you know your budget and streamline the process.
- Compare loan terms and interest rates to get the best deal. A longer loan means lower monthly payments but more interest paid overall.
Our finance department can walk you through all your options and help you secure a great rate on your auto loan. We work with customers across Northern Kentucky to find affordable financing solutions.
Explore Our Inventory of New and Used Vehicles
No matter which route you choose, Jeff Wyler Eastgate Kia has the selection you need. You can check out the latest and greatest from Kia, including the new Telluride, Sportage, Sorento, Forte, and K5. We also have a variety of used cars, trucks, and SUVs in stock from other popular automakers. With our rotating new vehicle specials and used vehicle deals, you're sure to find a car, truck, van, or SUV that fits your budget just right.
Lease or Finance Online in Minutes
Ready to take the next step? Jeff Wyler Eastgate Kia in Batavia makes leasing or buying a car easy and convenient with our online tools. You can get pre-approved for financing, estimate your trade-in value, and view current lease and finance specials all from home. We aim to provide a simple, transparent, and hassle-free experience from start to finish.