Financing vs. Leasing

Benefits of Financing vs. Leasing

What are the benefits of each?

Buy

  • Less worry about your car’s condition
  • No limit on mileage
  • Full ownership of your vehicle
  • Factory warranty to cover major repairs

Lease

  • Payments are usually lower, compared to a purchase
  • Opportunity to drive a new car every two to three years
  • Factory warranty to cover major repairs

How much do I pay?

Buy

When you finance your vehicle purchase, your monthly payments will be determined by the vehicle price, amount of your down payment and trade-in value, interest rate, and length of term.

Lease

When you lease a vehicle, you’re only paying for the portion of the vehicle you use over the course of the lease. A lower down payment, or none at all, may also be possible.

How long does my finance contract last?

Buy

Usually 36 to 84 months.

Lease

Usually 24 to 48 months.

How many kilometers can I drive my vehicle?

Buy

There are no restrictions. However, more kilometers driven tends to lower resale or trade-in value.

Lease

You determine the amount of kilometers you plan to drive during the lease term before you sign the contract. You may buy additional miles up front. Between 20,000 and 24,000 kilometers per year is typical. You may incur charges on any excess mileage.

Can I customize my vehicle?

Buy

Add accessories to your vehicle at any time.

Lease

Customize your vehicle only when your lease begins with approved accessories.

What happens at the end of my finance contract?

Buy

When you make your last payment, you’ll receive your title to your car and can choose to sell or continue driving.

Lease

Arrange for termination inspection at your location. Then, return your leased vehicle to your Kia dealer to buy or lease your next Kia vehicle! Keep in mind, there may be charges for excess mileage, wear and damage when you return at lease-end. There are also penalties associated with ending a lease early.

New and Used Vehicle Leasing, Markham, Ontario

Longman's Markham KIA Leasing

Dealership Hours

Monday - Thursday9:00 am - 9:00 pm
Friday9:00 am - 6:00 pm
Saturday9:00 am - 6:00 pm
SundayClosed
Monday - Wednesday7:30 am - 6:00 pm
Thursday7:30 am - 7:00 pm
Friday7:30 am - 6:00 pm
Saturday8:30 am - 4:00 pm
SundayClosed
Monday - Wednesday7:30 am - 6:00 pm
Thursday7:30 am - 7:00 pm
Friday7:30 am - 6:00 pm
Saturday8:30 am - 4:00 pm
SundayClosed

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Longman's Markham KIA

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