If you like the idea of having a new car every few years and don’t mind him the constant car payments you might want to consider the option of leasing your next KIA instead of buying. For some people leasing a car is a great way to find out if they like the car enough to buy it and for other people is just a good way to constantly keep a new car in the garage.
Leasing isn’t for everybody but for the right people it’s a great fit. So who are the right people? To start with you will need to have good credit. Leasing a car means you’re not putting any money down and your payments are going to be lower than a car payment if you are buying. This means you need to have good credit or you will you be considered releasing.
You also need to be pretty predictable about how much you plan to drive your car if you’re going to go over 15,000 miles a year leasing might not be a good option for you. Bear in mind most people only drive their cars around 12,000 miles a year, so 15,000 miles gives you a good cushion.
Most KIA cars are customized with perks so there is usually no need to customize it. However, if you prefer to customize your cars beyond this, leasing is not a good option for you and you might want to consider buying instead.
Finally, if you have any health concerns you should be aware of the fact that once you sign a lease illness and even death itself will not break the contract.
If you think you’re still a good candidate for leasing your next KIA you need to understand the two types of leases that are available. A closed lease is probably a preferable one for most people. It’s also known as a walkaway lease in which you simply return the vehicle at the end of your lease commitment and you’re done with it. The other type of lease is called an open-end lease and is mostly used by businesses that can’t predict their mileage as well an individual leaser can.
How much you actually end up a paying to KIA personal lease will depend on the depreciation value of the car. In other words the less the car depreciates over time the less your payment amount will be. This actually means you can drive a high-end KIA and pay less for it than someone making car payments on a Toyota will.
Most lease terms come in a set time period of 24, 36 or 48 months. Once you agree to a certain time frame you are committed to that time frame. It’s virtually impossible to get out of a lease early so you might then take that into consideration when you’re considering how long you want to lease a car for. Keep in mind however that the longer your lease the lower your monthly lease payments will likely be.