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Leasing vs. Financing

Leasing is becoming a popular choice among consumers. As a matter of fact according to Experian, more Americans than ever before are leasing vehicles today! Lower monthly lease payments available to consumers are playing a big role in this shift.

Kia of Madison recognizes the importance of not only finding the right vehicle for you but also the right way to purchase that vehicle. We have available to you a Finance department and sales staff that is trained to consult you by asking you the right questions. By providing you with a well rounded consultation we are better able to help you find the vehicle you want at the price you need.

To find out more about leasing vs. purchasing call us directly at 888-356-1417.

When You Lease Monthly Payments

Monthly lease payments are usually lower than monthly finance payments because you are paying only for the vehicle's depreciation rather than the full purchase price during the lease term, plus rent charges (like interest). Alternatively, you can lease a more expensive vehicle for the same monthly payment as financing.

When You Finance Monthly Payments

Monthly finance payments are usually higher than monthly lease payments because you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, and taxes. For the same monthly payment as leasing, you must finance a less expensive vehicle.

When You Lease Vehicle Return

You may return the vehicle at lease end, pay any end-of-lease costs and "walk away."

When You Finance Vehicle Return

You have to sell or trade the vehicle when you decide you want a different vehicle.

When You Lease Future Value

The lessor has the risk of the future market value of the vehicle. You generally have the opportunity to gain any vehicle equity.

When You Finance Future Value

You have the risk of the vehicle's market value when you trade or sell it. You would also have any vehicle equity.

When You Lease Up Front Costs

Up-front costs of leasing a vehicle are usually less than up-front financing costs. They typically include the first month's payment, a refundable security deposit, registration fees and sometimes local taxes. Up-front costs can include:

  • Capitalized cost reduction
  • Taxes
  • Other government or lessor charges
  • Optional insurance and services
  • First monthly payment
  • Refundable security deposit
  • Prior lease balance
  • Prior credit balance
When You Finance Up Front Costs

Up-front costs of buying a vehicle are typically greater than up-front leasing costs. They typically include the cash price or a down payment, sales taxes on the full price of the vehicle, registration fees and other government charges. Up-front costs can include:

  • Cash price or down payment
  • Sales tax
  • Other taxes
  • Other government or lender charges
  • Optional insurance and services
  • First monthly payment
  • No refundable security deposit
  • Prior lease balance
  • Prior credit balance
When You Lease Total Costs

The total costs of leasing a vehicle for a fixed period are generally less than for financing because of lease savings on depreciation and gap coverage; reduced sales tax; and the time value of money benefits.

  • Depreciation
  • Gap coverage
  • Sales/Use tax
  • Time value of money
When You Finance Total Costs

The total costs of financing a vehicle for a fixed period are generally more than for leasing because of higher costs of depreciation and gap liability, more sales tax and the time value of money differences.

  • Depreciation
  • Gap coverage
  • Sales tax
  • Time value of money

Your Kia Maintenance Schedule

There's a lot of work that goes into owning a car, especially if you want to keep yours in good shape for many miles to come. The best way to make sure your Kia lasts a long time and runs smoothly the whole time you drive it is to schedule regular maintenance. In fact, a little bit of maintenance can save you tons of potential repair costs. One of the toughest parts about keeping up with maintenance on your Kia is knowing when it's time to take your car to a mechanic. The best thing you can do is talk with your local Kia dealer and figure out a schedule for when you can take your car in. If you're in the Madison, WI, area, the best place to schedule your Kia service is Russ Darrow Kia of Madison.

Finding Your Kia’s Maintenance Schedule

Determining how often you need to have your Kia serviced starts with figuring out the recommended intervals between various types of service. For example, your tires need to be changed a lot more often than transmission fluid but not nearly as often as you should change your oil. You can find more information about the recommended intervals between each type of service by reading your owner's manual or talking to a mechanic.

In addition to keeping up with the little maintenance tasks, you should also have a tune-up done at certain milestones to make sure you're keeping everything in good shape. A lot of mechanics will recommend you have a 30,000, 60,000 and 90,000-mile maintenance appointment at the very least. However, you should never wait until the next maintenance appointment if you think there's something wrong with your Kia.

The Russ Darrow Kia of Madison Difference

Simply knowing how important it is to take care of your Kia isn't enough; you also need to make sure you're putting your trust in the right mechanic. If you're looking for a good place to schedule Kia service near Monona, WI, the folks at Russ Darrow Kia of Madison can help you get things sorted out. Not only can we check your Kia today to make sure there aren't any problems, but we can also set up a service schedule that works for you. Remembering to take your Kia in for service can be tough, especially if you've got a busy life. With the help of a Kia service schedule from the folks at Russ Darrow Kia of Madison, you can keep your Kia up and running and in great shape for years to come.