Interested in Leasing A Kia Telluride? Here’s What To Know
Kia Telluride by Syntaxlord — CC-BY-SA-4.0
Kia’s SUVs have been getting a lot more popular and more effective in the last few years. The rising trend of Kia’s popularity, combined with their impressive warranties and good safety ratings, is making many more people look at getting a Kia. But what about leasing? Is leasing a Kia Telluride a good option?
We’ll talk about the advantages of leasing a Kia Telluride, whether leasing or buying is a better option, and what you need to know about vehicle leasing before you sign on.
Advantages of Leasing A Kia Telluride
Kia Tellurides are some of the most popular and highest safety SUVs out there right now. They’re also recommended as a 3-row SUV that can fit adults in the back seat comfortably. With space for 7-8 people and a comfortable interior, it’s no wonder families want to get their hands on this SUV.
Leasing can be a decent option if you’re looking for a new SUV but don’t want to get a new car loan or enjoy lower payments than a traditional car loan. If you’re looking at leasing a Kia Telluride, the price is a little lower than your average car payment, though prices vary from location to location.
The lower price is the main advantage of leasing, though there are other benefits. For instance, you don’t own your Telluride if you’re leasing, which means having the lease will have less impact on your taxes.
In some cases, leasing a Telluride may also help you, but the car for less than you would have paid buying it new. This only applies if your lease allows you to purchase the vehicle after the end of the lease and if you can get a favorable price.
But, leasing can make it easier to prove you can afford a car loan or improve your credit since the monthly bill is listed on your credit report. So you may be able to get a more favorable price and a more favorable car loan at the end of your lease.
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Is The Kia Telluride A Good Vehicle To Lease?
Overall, leasing a Kia Telluride is a good idea, but it’s not a perfect option. For one thing, the Telluride is in a lot of demand, especially in the 2021 model. That means that leasing prices aren’t as favorable as less popular models.
If you want to get a new Kia Telluride, it may also be harder to make buying the car an option at the end of your lease. Demand for the Telluride isn’t just driving up lease prices; it’s making dealerships hold on to their lease vehicles longer since they’re a profitable model.
The good news is that that popularity might mean that there is a more extensive selection of lightly used Tellurides for lease or sale in just a couple of years.
Leasing is also a good idea with the Telluride since you’ll likely be able to get a higher trim level for less money than you would spend to buy the car. Since the Telluride comes in 4 different trim levels, that’s worth considering, especially if you need to fit a large family into the car.
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Leasing may also be a better option if you’re thinking about getting a Telluride but aren’t sure if you need that big or haven’t driven an SUV before. Leasing can be a decent way to try a car for a few months without committing to driving that car for several years.
The last thing we want to mention for whether it’s a good idea to lease a Kia Telluride is the current car market. Buying and leasing cars are more expensive because of a supply crunch resulting from supply chain issues during the pandemic.
There are still fewer cars available than there used to be, which means that the available stock is going at premium prices.
Of course, that might mean that leasing makes more sense since prices may go down as supply chains recover and manufacturers can get more of their vehicles onto dealership lots. Leasing for a few months may help dealership prices go down, and leasing will depreciate the value of your Telluride slightly, leading to more favorable prices.
The vehicle market isn’t predicting downturns anytime soon, so we may have to deal with the higher prices for a while yet.
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What Should You Know Before Signing A Kia Telluride Lease
You should know a few things about any vehicle lease before signing. For instance, if you need to terminate the lease early, how much will that cost? Here are a few things to consider before committing to a lease:
Open Or Closed Lease: Open or Closed refers to whether there’s a possibility for additional fees or refunds at the end of the lease. Open leases leave you vulnerable to value charges and mean you may get a refund for taking good care of the vehicle. Closed leases protect you from unexpected costs unless you exceed mileage or wear expectations.
Expected Residual Value: This refers to the vehicle’s value at the end of the lease. Kia Tellurides maintain a higher residual value than many other vehicles, which is good.
Use Tax: In some places, you may pay a use tax on your lease in place of the taxes usually paid when you buy a car. That means you may get taxed twice on the vehicle if you buy it at the end of your lease.
Leasing A Kia Telluride: What to Expect
When leasing a Kia Telluride, it’s best to temper your expectations. The Telluride is one of the most popular SUVs in the market, so you’ll likely have difficulty finding the best deals or general availability. The Telluride’s inherent popularity also means that dealers are never in a hurry to sell this SUV off their lots, so there might not be many lease offers and deals.
For example, leasing the 2022 Kia Telluride may cost you an average monthly lease payment of $514 with a 36-months term and $2,000. Keep in mind that this is just a general calculation because the overall price may differ based on certain factors and extra fees. In general, the factors that will primarily determine your monthly payment are your lease terms, credit rating, and your down payment.
It’s always best to check if Kia Telluride lease deals and specials are available in your vicinity. They can vary from one dealer to the next, and they can change every month, so it won’t hurt to ask.
An excellent tool to use for leasing a Telluride is Kia Payment Calculator, as this gives you a general idea of what to expect when leasing.
Final Word
While the Kia Telluride is a decent leasing option, the high demand for the Telluride means that leasing doesn’t save you as much money compared to buying other three-row SUVs. You can get a reasonable leasing deal with good credit, but there aren’t many options if your credit isn’t great.
If you’re looking for a better deal leasing a Kia Telluride, consider going with the 2020 model instead of the 2021 release. The changes between model years are minimal, but the sleeker finish on the 2021 design means it’s in a little more demand.
Of course, if you aren’t set on the Telluride, other good Kia models are as good or better for leasing. We’d recommend looking into leasing a Kia Sorento or a Kia Soul if you’re looking for a similar but more affordable option.
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