Buy vs. Lease

Is your commute from Elk River to Rogers in need of an upgrade? As you shop for the perfect new Kia car or SUV, you may wonder, should I buy or lease? Both options have several perks to consider, so whether you choose to buy vs. lease will ultimately depend on factors like how long you want to drive your new car and whether you want to customize it. Compare lease vs. buying with us below to help determine which buying method best suits your needs!


When you buy a car, you’ll be paying for the entire cost of a vehicle. Some people are able to pay upfront, while most will need to begin a payment plan to repay a car loan – but even if you pay in increments, you still pay the full price of the car.

  • Advantages: Owning a car can be a great investment. If you take care of it, you may not need to buy another car for years, and you can sell it for a great price. There are no mileage restrictions, and you can customize your car with parts and accessories however you please.
  • Who Owns It: The car is yours and only yours. You might pay for it with cash, or make payments under a financing plan. If you’re financing the car, your lender will require you to meet certain obligations, such as monthly payments or a down payment. Otherwise, your car can be repossessed.
  • Up-Front Costs: Financing a car means the bank or lender will need an initial payment from you, which is usually calculated according to your credit score, among other factors. You may also choose to trade in your old vehicle, the value of which can be put toward your down payment.
  • Future Value: You may be able to sell your car for a fair price as long as you maintain it properly. It’s important to visit a factory-authorized service facility at regular maintenance intervals for this reason. However, even a car in bad shape may be sold for parts or scrap.
  • End of Payments: You’ll have to pay a certain amount as stipulated in your contract, but once you’re done, that’s it. The institution you borrowed from will send you a Lien Release, which is proof that the vehicle belongs entirely to you and may not be repossessed for nonpayment. The vehicle is now yours.


When you lease a car, it’s yours to use for a set amount of time as you pay a portion of the car’s value each month. That way, you’re only paying for the time you use the car.

  • Advantages: Kia leasing is much cheaper than buying outright because you’re only paying a percentage of the total price. You won’t have to worry about fetching a good price or finding a buyer for it when you’re done, as the dealership will take it back from you. If you like to have the newest gadgets in your car, you can regularly upgrade to drive the latest models.
  • Who Owns It: The institution through which you are leasing the car retains ownership. You’re essentially renting the vehicle. Your contract will state you’re using the car for a set amount of time in exchange for a set amount of money.
  • Up-Front Costs: A lease doesn’t typically require a down payment, but you will have to provide the first month’s payment along with a security deposit, acquisition fee, and any other applicable costs. It’s possible to lower the number of your monthly payments by increasing your initial fee.
  • Future Value: Because you don’t own the car, you will turn it into the leasing agency at the end of your lease. However, pay close attention to any mileage restrictions or wear and tear guidelines—excessive use may cost you extra when you return your vehicle.
  • End of Payments: You usually just return the vehicle when your lease ends. However, you may be able to purchase it during or after the term of your lease, or trade it in before the term of your lease is over. If you think you might want to employ any of these options, ask your financing agent about them before the lease is signed.

Choose Kia Leasing or Financing With Cornerstone Kia

Still asking yourself “Should I buy or lease?” Contact us to be put in touch with our finance team, who can help you determine whether the option to lease vs. buying would better suit your desires. No matter where you land, Cornerstone Kia can help you find a new vehicle with a price you’ll feel great about. We even offer a rotating selection of new vehicle specials to help you save!