There's an air silencer in the stock filter housing, if you remove it to install a cold air, it will make a bit more noise as the air comes straight in the MAF and won't be baffled.
I personally would only use a K&N if your installing a cold air kit, the K&N replacement filter will do almost nothing for performance and can potentially coat your mass air flow sensor with oil, doesn't filter as well as the stock filter, and may not fit as well as the stock filter. Usually none of these will happen but it's possible and, in my eyes, isn't worth the gamble to get the realistic 1hp you MIGHT get from the K&N.
If your using a cold air kit, it will most likely come with the K&N and you won't have a choice, it's a trade off for having the upgraded performance and most cold air kits mount the filter further away from the MAF so the likelyhood of MAF coating is reduced.
If it was me, I'd do the cold air kit, if you can't afford it, don't do anything.
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