Close How to Lease a Kia in Highland Park, IL
If you’re interested in bringing home a new Kia but aren’t ready to make a purchase, then leasing can be the right choice for you. Our team of experts here at McGrath Kia of Highland Park can help you learn about the basics of leasing.
What Is a Car Lease?
Think of a lease as a long-term rental agreement. Instead of financing the full purchase price of a vehicle, you're essentially paying for the portion of the car's value you use over the lease term, which is typically 24, 36, or 48 months. At the end of the lease, you return the vehicle, and you can choose to walk away, lease a brand-new model, or purchase the car outright for continued drives around Highland Park and beyond.
How Are Lease Payments Calculated?
Your monthly lease payment is determined by a few key factors. Capitalized Cost is the agreed-upon selling price of the vehicle. Just like buying a car, this is negotiable, so don't be afraid to discuss it with our sales team. A lower cap cost means lower monthly payments. Residual Value is the estimated worth of the vehicle at the end of the lease term, expressed as a percentage of the MSRP. Kia vehicles tend to hold strong residual values, which is great news for lessees. A higher residual value means you're financing a smaller portion of the car's depreciation, which lowers your monthly payment. The money factor is essentially the interest rate on your lease, expressed as a small decimal. The lower the money factor, the less you pay in finance charges. Standard leases typically come with annual mileage limits of 10,000, 12,000, or 15,000 miles. Exceeding those miles results in a per-mile overage fee at the end of the lease, so take stock of how often you drive down I-94.
What Happens at Signing?
When you sign your lease, you may be required to pay certain upfront costs. These can include a down payment, the first month's payment, a security deposit, acquisition fees, and applicable taxes and registration. We always recommend being transparent about your budget so our Finance Department can structure the best deal for your situation.
What Are the Benefits of Leasing?
Leasing a Kia comes with several compelling advantages. First, monthly payments are typically lower than financing a purchase, which means you can drive a higher-trim model for less money each month. Second, since most leases run two to four years, you're often covered under Kia's factory warranty for the entire lease period, reducing out-of-pocket repair costs. Third, leasing gives you the flexibility to upgrade to the latest technology and safety features every few years to stay up to date during your Northmoor Country Club trips.
What Should You Watch Out For?
Leasing is not without its considerations. You must return it in good condition. Normal wear and tear is expected, but excessive damage may incur charges. Additionally, breaking a lease early can come with financial penalties, so make sure you're committed to the term before signing. Our team is here to walk you through every step of the leasing process. We'll help you find the perfect Kia, explain all the numbers clearly, and make sure you drive off our lot feeling confident about your decision. Stop by our dealership location or give us a call today.
Are You Looking for a New Kia to Lease?
- View our online inventory.
Testimonials
“ I had a really great experience at Kia McGrath! Everyone was welcoming and friendly, and I never felt pressured throughout the process. They really took the time to understand what I was looking for and made me feel like my needs came first. A special thank you to Val, who was incredibly kind, patient, and easy to work with. He made the whole experience smooth and stress-free. I’d definitely recommend Kia McGrath, especially if you get the chance to work with Val! ”
“ Bought a new car here today. Casey was great to work with - helpful, friendly, made the process very easy. Allie was also great - very nice, patient, efficient. ”
“ Got my kia k4 from them. I had a great experience at the Kia showroom. The entire process was smooth, professional, and stress-free. A special thanks to Pejman, who was knowledgeable, patient, and never made me feel pressured. He answered all my questions honestly, explained every detail clearly, and made sure I was comfortable with my decision. His excellent customer service made the car-buying experience enjoyable. I highly recommend this dealership, especially if you get the chance to work with Pejman. ”
“ We had a great experience with everyone at McGrath. Highly recommended ”
“ Casey was extemely patient with us while purchasing our sportage. ”
“ We had a great experience! We spoke with Casey and did a FaceTime look at the vehicle we bought. After driving over 6 hours to the dealership, the price we were quoted over the phone didn’t change. The vehicle was in perfect condition as well! No hassles, pressure, price changes or unexpected surprises. Thank you again for a wonderful experience! ”
“ Been a Kia owner for over 10 yrs and very pleased with their cars and services especially with the staff including Mr. Val very outgoing and friendly, took care of me and my family over the years. Was a pleasure meeting him in his new facility that he works in now. Purchased a beautiful Kia Sorento this past weekend 6/27/2026 and love it.. well recommend dealer McGrath Kia dealer. ”
“ Casey was great! Knowledgeable, kind , patient while I was making decision about which car to buy! Highly recommend Casey! ”
“ Great service end to end. Made the experience of hetting a new car enjoyable ”
“ Casey was very helpful in purchase our Jeep Compass ”
“ Great service. See Danny the salesman. Solid dude, knows his cars, easy to work with. The service dept is excellent. ”
“ Would definitely come back here or recommend Mack to anyone looking for a car - he made the whole process quick, fair, and honestly painless which is not always synonymous with buying a car. ”
“ I had a wonderful buying experience recently with McGrath. I worked with Mack Lay who was an excellent partner. He was responsive and knowledgeable. Not pushy at all and made it really enjoyable. I bought a new Sportage Hybrid and I LOVE it! Highly recommend McGrath and Mack. ”
“ Casey Was very helpful in purchasing our 2017 Toyota Sienna ”
“ Good sales reps helped us make informed decision ”
“ Excellent service, clean showroom, friendly and helpful employees and made the process a pleasure. Would 100% go back for next cars. Danny K , our salesman was the best! Highly recommend. ”
“ Worked with Casey and got quick, no BS answers from him to get our purchase done. Great experience. ”
“ Enrique is awesome, helped me get my dream car! ”
“ Danny was beyond awesome. Friendly, conscientious, knowledgeable and went the extra yard. He will take care of you. Trust me! ”
“ Glad I saw Mack at the Highland Park McGrath for my daughter’s first car! ”
“ Casey and Jason were awesome! ”
“ Our buying experience at McGrath was terrific! Harry was wonderful to work with as he was well educated on the vehicles and patient as we worked through our top car picks. The team was accommodating and it was a pleasant experience from start to finish. ”
“ Casey was great to work with! ”
“ “I had a great experience at Kia. Casey and Danny were both incredibly helpful, professional, and patient throughout the entire process. They answered all my questions, made everything easy to understand, and never made me feel pressured. Their customer service was outstanding, and they went above and beyond to make sure I was happy with my purchase. I highly recommend working with Casey and Danny if you’re looking for a smooth and stress-free car-buying experience. Thank you both!” ”
“ Danny was my salesperson and he was TERRIFIC!!! He’s very knowledgeable, patient, helpful, cooperative I would recommend him to anyone in the market for a car!! ”
“ Danny was an excellent salesman. Incredibly knowledgeable and kind, would work with him again ”
“ Walked in and was met by Casey. The whole experience was great. He helped us find exactly what we wanted and was very professional. ”
“ Dan was down to earth, knowledgeable and understanding of my needs. I felt that he knew a great deal of the mechanical aspects having worked in the service department previously. ”
“ Went in to go see a car and ended up actually buying one. Pejman was very helpful and went to great lengths to help us get the car we wanted. Everyone whom we met with was polite and would offer us refreshments as we were waiting or talking. Overall the process was as smooth as possible making the car buying negotiation experience less stressful than it usually is. ”