At Joe Myers Kia, we get questions every day about car leasing. As a rather new trend, many drivers don't know the ins and outs of how leasing works nor the benefits that it can provide to car shoppers. Below you'll find answers to the questions you've had regarding leasing, along with some points that'll help you determine if it's the right type of new-car financing for you.
Car Leasing Vs Buying
The primary difference between car leasing and buying is ownership. When you buy a car, you'll own it after finishing your payments. Car leasing is similar to renting, although you have the option to purchase the vehicle at the end of your lease term for a pre-negotiated price.
Is Leasing Right for You?
There is no definitive answer when it comes to determining whether leasing is better than buying a car. For some the answer is easy, especially for those who simply want to own a car for the long term. However, for others a variety of factors must be considered, starting with the questions below.
Leasing a new Kia in Houston may be ideal for you if you answer yes to most of these points. But you should assess the benefits of leasing at the bottom of the page as well to determine if it's really ideal for your needs.
- Do you desire a car that might be out of your price range if you chose to buy?
- Do you have little money to put down on a car?
- Do you want a really low monthly payment?
- The last time you owned a car, did you want to sell it after a few short years?
- Do you like driving new cars all the time?
- Do you consider yourself tech-savvy and desire a vehicle with the latest and greatest tech features?
- Do you know approximately how many miles you drove over the last year?
- Do you drive roughly the same amount of miles each year?
- Would you say that you keep your vehicles in near perfect condition?
- Are you strict about following your car maintenance schedule?
Car Leasing Benefits
- Low monthly payments. A primary and commonly noted benefit of car leasing is that the monthly payments are generally a lot lower compared to payments for financing a car that you'll buy. This is because lease payments don't account for the total worth of a car, only for the portion of the value that you use while on your lease contract.
- Little upfront costs and zero-down leases available. If you're looking to save money in the short-term, leases can help you do so. Not only will you save on your monthly payments, but it's likely that you won't have to pay much up front for the down payment or may even qualify for a zero-down lease with Kia.
- You can get more car more often. If you love driving new cars every few years, leasing offers the flexibility to do so, with most lease terms lasting two to three years (24 to 36 months). In addition, you may find that you can get a better car when leasing, because the short-term costs are lower than when buying. That means you can splurge on that top-of-the-line Kia Sportage, Optima or Sorento model you've been eyeing.
- Warranty coverage included for the duration of your lease. With one of the longest powertrain warranties offered in the industry (10 years or 100,000 miles), you'll have warranty coverage throughout your lease that covers defects related to expensive parts. In addition, the basic limited warranty is also lengthy at 5 years or 60,000 miles.
If you're interested in leasing a car or SUV in Houston, Texas, visit Joe Myers Kia today! Use our website to learn more about models in the Kia lineup, including details about their features, powertrains and trim levels, then visit to take a test drive!