Image via Kia of Billings.
Whether you need a new vehicle to get to work, you’re replacing your car after an accident, or you’re simply ready for a new vehicle, financing your new car purchase is typically your biggest hurdle. For most drivers, Kia financing options are leasing or buying. Choosing the right financing plan will depend on your income level and car ownership goals.
There are several advantages to leasing or buying a new car. Leasing a car means you will have a short-term financial agreement with a lower monthly payment that allows you to drive a more expensive model for a fraction of the price. On the other hand, buying a car may save you money in certain fees and comes with fewer restrictions since you will own the vehicle.
Leasing a car is more affordable since you are only paying for a portion of the value of the car, whereas buying a car means you are paying back an auto loan for the vehicle’s entire value. However, the short-term affordability of leasing your car may be outweighed by the fact that you will need another lease when your current one expires. By contrast, after you finish paying off your auto loan, you will no longer have monthly payments.
What About Upfront Costs?
In addition to monthly costs, you will also need to consider upfront costs. When you take out an auto loan, you usually need to make a down payment on the vehicle. If you don’t have a lump sum saved or a vehicle to trade in to offset the down payment costs, then it may make more sense for you to lease a car.
Ask Your Dealer About Kia Financing Options
If you aren’t sure which financing method is best for your budget, you can explore your options when you talk to your dealership’s finance department. A Kia finance advisor can help you determine whether leasing or buying is best for your unique situation by gathering information about your income, credit history, and driving habits.
Additionally, you can ask your dealership about manufacturer deals and specials. Some of these specials can reduce the APR on a new vehicle for several months, giving you the opportunity to pay down the cost of a new car with very little interest. Other specials may discount the price of new vehicles as the manufacturer releases new models. Typically, qualification for these specials means financing your vehicle through Kia’s financial lender.
No matter what your financial circumstances are like, your local dealership is ready to work with you to hammer out a finance deal for your new Kia purchase. Get in touch with Kia of Billings in Billings, MT to ask about current deals and specials.
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Warranties include 10-year/100,000-mile powertrain and 5-year/60,000-mile basic. All warranties and roadside assistance are limited. See retailer for warranty details.