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Should I Buy or Lease?

Now that you’ve found the perfect car for your Hannibal, MO commute, the only left to decide is whether to buy or lease. While both are great options with their unique benefits, you’ll want to choose the option that makes the most financial sense for your current circumstances. Compare the pros and cons of buying vs. leasing with the finance center at Shottenkirk Kia of Quincy to see which option is the right choice for you. 



Leasing vs. Buying: Costs

If you’re wondering, “Should I buy or lease?”, then you’ll first want to consider the long-term and short-term costs of both options. Here are some things you should know regarding costs: 



  • Lower monthly payments
  • Tax savings 
  • Lower down payment
  • Covered repair costs


  • Lease payments won’t change much from lease to lease



  • Chance to eliminate monthly payment altogether
  • More affordable than leasing when buying used


  • Increased repair costs as vehicle ages

Leasing vs. Buying: Restrictions

If you plan on putting some miles on your vehicle and cruising through Keokuk, IA and beyond often, then you should consider the restrictions with leasing compared to buying: 


  • Mileage restrictions that are susceptible to a penalty fee if broken


  • No mileage restrictions or limitations

Leasing vs. Buying: Ownership

Should you buy or lease? If you aren’t ready to commit to full ownership, then leasing might be the better option. Here are some things to consider regarding ownership: 


  • Required to keep the vehicle in as close to factory condition as possible


  • Ability to customize and upgrade as you please

Because the dealership will need to resell the vehicle after your lease term ends, they will restrict any modifications to the vehicle that you can make. When you finance, you have the option to upgrade and customize, but be aware that it could affect your vehicle’s warranty. 

Leasing vs. Buying: Flexibility

If you’re like most Pittsfield drivers, then you like to have flexibility and freedom. If you’re not sure if you should buy or lease, consider the following: 


  • Easy return process at the end of the lease term
  • Option of buying out the lease or upgrading to a newer model


  • Ability to sell or trade the vehicle at any time 
  • Can refinance at a lower rate later on
  • Can keep the vehicle as long as you like

If you finance and decide to trade in your vehicle later on, just be sure the vehicle is still worth more than what you currently owe. Ultimately, if you want a quicker and overall cheaper option, then leasing is a better choice. However, if you don’t want any mileage restrictions, then financing might be your best option. Visit Shottenkirk Kia of Quincy to learn more about your buying options, and explore our Kia lease deals

Lease or Finance Your Vehicle at Shottenkirk Kia of Quincy

Still wondering, “Should I buy or lease?” Contact us to speak with a team member, and visit us in Quincy to discover your options. 

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1330 N 24th St • Quincy, IL 62301

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Shottenkirk Kia of Quincy 39.947606, -91.377104.