What is the Difference Between Loans
and Leases?
You may qualify for either a lease or loan. While both options are
different, they offer unique benefits for each shopper. Understanding the
differences and advantages between the two can help you choose the right option
for you. After exploring our new and pre-owned inventory,
select your lease or loan through our finance center.
Lease
Leasing a vehicle is like renting it for a set period, typically 36 or
48 months. When the lease ends, you return the vehicle to our lot and can start
another lease with another new Kia model. Some leases have provisions for
purchasing the vehicle once the lease ends. A lease typically has lower monthly
payments than a loan, making it an attractive option for those looking to drive
a new vehicle around Erie, Pennsylvania. Leases typically limit the amount of
annual miles you can drive, so consider this.
Loan
With a loan, you make payments towards vehicle ownership. Once it's
paid off, you own the car in full. Monthly payments will include principal and
interest. One consideration with loans is that the vehicle tends to depreciate
the most in the first five years but can be a good option if you plan to keep
the model long-term. You can drive as many miles as you wish around Greenville,
Pennsylvania, and beyond. Through ownership, you can also customize your
vehicle how you please.
Schedule a Finance Appointment Online
Ready to park your new Kia car in your Edinboro driveway? Contact us online to schedule a
financing appointment. You can easily apply for financing online and get
pre-approved. If you have a trade-in, you can get an estimate on its value and
use it towards the lease or finance of your Kia vehicle. Take the short drive
and navigate to our
dealership today. We look forward to seeing you at Griffin
Kia soon.