Explore the Benefits of Buying vs. Leasing a Vehicle from Southern Kia- Lynnhaven
If you're on the market for a new vehicle, but you're unsure of whether to buy or lease it, allow our team here at Southern Kia-Lynnhaven to help you decide. The best way to determine which option is better suited for you, is to familiarize yourself with the pros and cons of each option. Let's take a look.
The best part about leasing a vehicle is that you aren't tied down to buying it once the lease term is up. As long as you stay within the mileage limit, you'll be good to go. The major benefit is that your monthly payments are often lower, and if you decide at the end of the lease you want to keep the vehicle, you can set up a financing plan to make it possible. If you're the kind of person that likes to try out different makes and models rather than committing long term to one vehicle, then leasing would be a great option.
Buying a vehicle on the other hand, allows you to build up some equity. You can keep it for as long as you want and not feel restricted by the amount of miles driven per year. Depending on how much money you put down, loan payments could be higher than the typical monthly lease payment, but at least you know it is getting you closer to owning your vehicle. In addition, when you buy a vehicle you have the freedom to customize it to your heart's desire. Trading it in for another model later on is always an option, but you do have to take into account the possible depreciation of your vehicle's value.
As you can see, there are pros and cons to both options. In the end it comes down to what works best with your budget and how long you intend to keep the vehicle. To figure this out, take the buy vs. lease survey by answering a series of questions that will help to guide your decision.
Drivers from the Chesapeake, Norfolk Newport News, Hampton and Portsmouth areas can count on our auto experts to help them out. Simply visit us in Virginia Beach, VA and we'd be happy to answer any questions you have, while getting you started with the process of finding a new ride!