For end-of-lease customers in 2024, Kia will offer more choice and freedom than ever before. When a lease contract ends, Kia lessees have a variety of options to meet their financial and driving needs. Understanding these end-of-lease alternatives can help you decide whether to buy, return, or upgrade to a new Kia.
Lease buyout option
Kia customers can purchase leased vehicles through 2024. If you like the car or see the long-term value of keeping it, this buyout may be right for you. Kia sets a residual value at the beginning of the lease that matches the purchase price of the vehicle at the end. If the market value of the car is higher than the residual value, buying out the lease may be a smart choice.
Kia Financial offers financing for the purchase of leased vehicles to simplify the process. This financing can make ownership more feasible, while allowing the lessee to keep a car they can trust.
Lease Extension Program
Kia understands that customers may need more time to make a decision. That’s why Kia is offering a lease extension through 2024. Customers can continue to drive their car while they decide to turn it in, trade it in, or purchase it by extending the lease term by a few months. Extending your lease can be helpful if you need more time to pay for a new car or if you’re waiting for a particular model to come on the market.
Customers can easily extend their lease by calling Kia Finance and asking for more time. This flexibility can make it easier to switch leases.
New Kia Model Upgrades
Kia is a popular choice for buyers who have finished their lease and prefer a new car. Kia often offers loyalty rewards to renters who lease or purchase a new Kia model after the lease term is up. Cash incentives, special financing rates, and lower lease payments make buying a new car more reasonable.
Customers can enjoy Kia’s latest features and technologies by upgrading to new models. The new models bring improvements in safety, performance and connectivity, making Kia the perfect choice for those who want to stay on top of automotive innovation.
Leaseback
Customers who do not want to buy or upgrade can easily return their vehicle. If you want to try out another car or do not want to lease or buy, you can return your leased car to a Kia dealer. The lease return process for the 2024 Kia is simple.
Before returning a lease contract, make sure the car meets Kia’s wear and tear standards to avoid penalties. Kia recommends having the car inspected a few weeks before the end of the lease term so that any necessary repairs or maintenance can be performed. This pre-return inspection helps clarify costs and prepare for the final handover.
Change your lease to another brand
With Kia’s flexible end-of-lease options, you can trade in your leased vehicle for another brand. Some Kia stores offer a brand-switching program for consumers and will appreciate the trade-in value of your Kia. This is a convenient way to take advantage of the remaining value of your Kia vehicle while you explore different brands or models.
Exceeding mileage or wear
Please note that additional charges may apply if the vehicle exceeds the mileage limit or has significant wear. Kia leases typically allow for 10,000-15,000 miles per year. If you drive more than the allowed mileage, you will be charged a per-mile surcharge, which may increase. Kia Finance can reduce the cost of excess mileage if you buy out your lease or upgrade to a new Kia.
Kia offers an optional Wear and Use Protection plan that covers minor dents, scratches and tire wear to reduce wear and tear costs. This option is useful if you expect to use the vehicle extensively during the lease period and want to protect yourself against unexpected costs.
Options for ending the lease early
Kia also gives you the choice to end your lease early if your circumstances change before the end of the term. Kia’s early termination program for 2024 is meant to give leaseholders who need to end their lease early a range of options. There are usually fees for ending a lease early, but Kia does offer deals that lower or waive these fees, especially for people who are switching to a new Kia lease or buy.
Early lease ending can be a good option for people whose lives are changing quickly, like when they have to move or when their family grows. The people at Kia stores and Kia Finance can help you figure out the best and least expensive way to end your lease early.
Conclusion
Kia’s choices for people who are coming to the end of their lease in 2024 are designed to give them choice, value, and ease. Kia has a number of programs to help you, whether you want to buy out your lease, upgrade to a new model, stretch your current lease, or return your car. You can get the most out of your Kia lease and move on to the next part of your driving trip easily if you know about all of your options and plan ahead.
