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Lowering a car correctly is expensive. You'd need camber adjustments front and rear, an alignment, and of course springs. And even then, your shocks' life will be dramatically reduced. You're looking at something like $800 for an almost-good drop.
I'd do the lip kit. In my opinion it's actually better to cheap out on a lip kit because when you inevitably bottom out you're not damaging anything pricey. A couple hundred dollars and it'll ride and handle just as well as it does now, but look better.
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