Some of the benefits you get from leasing
When you lease a new Kia crossover, SUV, or sedan from our dealership, you'll be making a lower initial down payment, so you get to keep more money in your pocket. What's more, your monthly car payments will be lower when you get a Kia lease than they would be if you got a car loan for the same vehicle. When you reach the end of your Kia lease, you won't have to be concerned about selling that Kia model because you won't own it. Leasing is an easy way for an Amelia, OH lessee to get the latest Kia styling and features every few years, by simply signing up for a new lease at the end of your contract period.
Here's why monthly leasing payments are lower than car loan payments
When you lease a new Kia, the monthly payments will be lower because you're paying only for the depreciation. That's a measure of the market value, calculated over time, so you're not covering the entire purchase price of that new Kia model. In effect, a Milford, OH customer is renting that vehicle instead of buying it.
Of course, there are other costs associated with leasing that you should know about, including use tax, sales tax, rental charges, and other related fees. When you get a car loan, the monthly payments will typically be higher, but a car loan gives you the chance to build cash value and someday own that vehicle, so it can be a better long-term financial strategy.
Some of the costs and limitations associated with leasing<
When you start your Kia lease contract, you might need to pay for cap cost reduction, government or lessor charges, insurance, the first monthly payment, plus a security deposit. Typically, a lease contract will have a strict limit on the number of miles you can drive each year around Northern Kentucky to avoid excess mileage charges. Beyond that, you will also need to cover the cost of any excess damage or wear-and-tear on your leased Kia, so that's another potential cost to keep in mind.
The lease return countdown
When you're about 60 days before your lease contract ends, it's time to schedule an inspection of your Kia. At that time, we will determine whether you have any excess damage or wear-and-tear fees on your leased Kia. That 60-day period will allow you enough time to pay for any repairs needed in our Jeff Wyler Eastgate Kia service center before the end of your lease. When you're about 30 days before your lease contract ends, you can contact us to set up a time and date for you to return your leased Kia to us.
Lease return options
At the end of your lease, you will have several different <a href="/financing/lease-return.htm">lease return options</a> you can exercise. One is to step away from leasing and purchase a new or pre-owned Kia from our new inventory, or from our pre-owned inventory. Another option is to purchase the Kia model you've been leasing, and you can do that on a discounted, pro-rated basis. One other option is to sign up for a new Kia lease. We'll be happy to discuss those choices with you so you can decide which approach is right for you.
