Car Shopping 101

Car Shopping 101

Are You Looking to Buy or Lease a New or Used Kia? Great Tips for Car Buyers Here

If you're not a veteran of the car-buying process, it can sometimes feel overwhelming. Where do you start? What options are available for financing, and what are the pros and cons of each? Even worries like "will I find the right car or SUV for me?" sometimes make drivers dread the start of the car-buying process.

If this defines you, then at Patrick Kia we have some really good news. We have a lot of helpful information available for drivers who are perhaps buying their first car, or are less experienced with all the ins and outs of the purchasing process. Let's start with a look at the pros and cons of buying versus leasing a new Kia.

We'll gladly assist you if you aren't sure which Kia would be the best fit for you, and we always encourage drivers to take a test drive - or more than one - in the vehicle or vehicles that they are most interested in. We're located in Henrico County and proud to also serve drivers from the nearby areas of Ashland, Fredericksburg, Williamsburg, Tappahannock and Chesterfield County.

Should I Lease or Buy?

Benefits of Buying

  1. When you purchase your new Kia, you do so with peace of mind because you can add accessories - such as a remote car starter or rear spoiler - anytime that you please.
  2. Of course, after your auto loan is paid off, you'll enjoy many more years of driving your vehicle without any payments at all.
  3. Like taking long trips? Travel a lot on business? That's no problem when you own your own car. You don't have to worry about extra miles on your car.
  4. Unlike when you lease, there is no additional paperwork to fill out further down the road, and no inspection that must be conducted at the end of a lease period. Once you're approved for financing on your car, you're good to go.
  5. Enjoy the sense of pride in car ownership and prepare to bond with your new vehicle!

Benefits of Leasing

  1. When you lease, you typically have to pay less up front as a down payment than when you purchase a new vehicle.
  2. Lease periods allow you time to really get to know the car or SUV you're driving better, before you decide to buy.
  3. At the end of your lease period, you can easily turn your vehicle back into the dealership and choose a newer or upgraded model.
  4. Enjoy lower monthly payments, on average, when you lease instead of purchase a new vehicle.
  5. Leased vehicles are typically still covered under the manufacturer's warranty, meaning that there are few if any repair costs during the lease period.

Whether you're looking to lease or buy, the sales experts at our Richmond car dealership are available to help you every step of the way. Your satisfaction is our top priority and #1 goal. Please stop in soon to take a look at any of the great new Kias on our lot and ask us any questions you have.

Should I Buy a New or Used Car

“Should I Buy a New Or Used Kia?”

Are you looking for a lower payment, but don't have that much money to put down?

If you don’t have a lot of money to put down on your next vehicle, we recommend that you choose a pre-owned Kia. Why? Because the total cost of the Kia will be less, which means that the loan amount will also be less.

Do you enjoy have the latest and newest gadgets?

If you are a techie and love the newest and latest gadgets and technology in your vehicle, then we suggest you get a new car. Perhaps even choose to lease the vehicle, so that you can get a newer car in just a couple of years. Late-model cars and SUVs frequently have the newest and latest technology and gadgets to make your heart sing

Are you a rough driver?

If you tend to be a little hard on your vehicles, we suggest you choose a late-model used vehicle instead of buying new. These vehicles still have a lot of life left in them, but you avoid paying the higher sticker price for a brand-new vehicle that will lose its value more quickly if it’s driven harder than the average car or SUV.

Do you have a bad credit history or no credit?

Whether you have a less-than-stellar credit history, or no credit at all, we suggest that you go with a pre-owned vehicle. Why? Because there are more second-chance loan offers available if you’re purchasing a used car or SUV.

Is it important to drive a car that's still under the manufacturer's warranty?

Are you looking for the vehicle you purchase to still be covered under a manufacturer’s warranty? If so, we suggest that you buy a new vehicle. These are still fully covered and there are plenty of miles and months left to the original warranty.

Is it important to know a vehicle's full history?

If you’d like to know the full history of your vehicle, then we suggest you purchase a new Kia. Reports such as CarFax can be very helpful and reliable, but they can’t predict what might go wrong with your used car in the future, nor if there is an underlying issue. Buying new in this case makes the most sense as you’ll completely eliminate that worry.

How Much Should My Down Payment Be?

Questions About Down Payments for a Car or SUV? We Can Help!

You’ve got your eye on a new Kia car or SUV and have taken a test drive. Then, you fell in love. Well, we have great news for you. Here at Patrick Kia, we can help you take the next steps to bring that new Kia home.

One question that we frequently get from customers is regarding the down payment of a vehicle. “How much of a down payment should I have?” Or, “What difference does a down payment really make?” Here is some information that should help.

What Percentage of a Down Payment Should I Put Down?

Is there a rule of thumb to follow when looking at how much to save for your next down payment? That depends. In days past, it was recommended that a driver save 20% of the cost of a new vehicle to put toward the down payment. That, however, doesn’t happen often anymore. Drivers average about 10% of a down payment these days, and the reason is that the cost of vehicles hasn’t kept cost with the income that most people are making.

So what is a reasonable amount to put down? While 10% is still a popular amount, don’t forget about the value of your trade-in. That, too, can count as part of your down payment. Experts agree that a specific percentage isn’t as important as choosing an amount which you can save for so that you don't deplete your savings account in the process.

Choosing Not to Put a Down Payment on Your New Kia

You could also choose not to put anything down on your new Kia. This keeps more money in your pocket and allows you to purchase your new vehicle more quickly, as you don’t have to wait to save that money up front. However, you need a solid credit score, and will also have a higher monthly payment as well as higher finance charges.

If you still have questions about down payments, we encourage you to come and see us here at Patrick Kia. Our friendly and helpful staff will be happy to answer any of your questions. You’ll find our dealership in Richmond, VA, and we hope to see you soon.