Buying vs Leasing as a College Student

Jul 19, 2017

Whether you’re headed back to continue your studies, or about to take your first steps into collegiate life, it would be really nice to have an automobile to go with your new found autonomy. However, college students aren’t exactly known for being flush with resources. That is where Classic Kia in Waukegan, IL comes in. We’d like to provide you with information on how to best allocate the resources you do have in terms of the pros and cons of buying or leasing a car as a college student.

Leasing
The Good: For many, this is likely to be one of, if not your actual first car. The things you think you’d prioritize may become less important, while other things you hadn’t thought of seem critical. The beauty of a lease is that it is far less impermanent an investment. If you find your first choice doesn’t pan out the way you expected, you can switch to something different when your agreement is up.

The Less Good: That impermanence is a bit of a double-edged sword. Because you are only paying to temporarily lease the vehicle, should you decide you love it and want to own it, your previous payments will have been essentially for nothing.

Buying
The Good: It may seem obvious, but ownership is the major boon of buying a car. Once it is paid off, it is yours. Visit our Kia finance department to learn more about making this option work.

The Less Good: Ownership is also something of a double-edged sword. You are responsible for any and all up keep. Also, buying a car is something of a commitment. If what you need from your vehicle changes in the next 5-10 years you may have to make a switch prematurely.

Whether you choose to buy or lease your new or pre-owned Kia car, visit us at Classic Kia and browse our inventory to see what you’ll be riding around campus in this fall.