Buy or Lease

Buy vs. Lease


Whether you choose to buy or lease, financing for your next Kia awaits. Learn more about which financing option is best for you.


What are the benefits of each?

Buy

Lease

• Less worry about your car’s condition
• No limit on mileage
• Full ownership of your vehicle
• Factory warranty to cover major repairs

• Payments are usually lower, compared to a purchase
• Opportunity to drive a new car every two to three years
• Factory warranty to cover major repairs


How much do I pay?

Buy

Lease

When you finance your vehicle purchase, your monthly payments will be determined by the vehicle price, amount of your down payment and trade-in value, interest rate, and length of term.

When you lease a vehicle, you’re only paying for the portion of the vehicle you use over the course of the lease. A lower down payment, or none at all, may also be possible.

How long does my finance contract last?

Buy

Lease

Usually 24 to 72 months.

Usually 24 to 48 months.

How many miles can I drive my vehicle?

Buy

Lease

There are no restrictions. However, more miles driven tends to lower resale or trade-in value.

You determine the amount of miles you plan to drive during the lease term before you sign the contract. You may buy additional miles up front. Between 12,000 and 15,000 mile per year is typical. You may incur charges on any excess mileage.

Can I customize my vehicle?

Buy

Lease

Add accessories to your vehicle at any time.

Customize your vehicle only when your lease begins with approved accessories.

What happens at the end of my finance contract?

Buy

Lease

You will receive your title, lien release, or a letter from us indicating your lien has been released electronically after your final payment has been processed.

Upon release of the lien, you own your vehicle free and clear. Congratulations!

You may purchase your lease vehicle or return it to your Kia dealership, at which point you may choose to purchase or lease a new Kia.

For details about what to do when your lease is up, see our Lease-End Overview page.


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