Using real leather will probably end up being cheaper in the long run.
Literal
Genuine [possessive-の] leather [object-を] use direction [subject-が] in-the-end [topic-は] cheaply cost will-probably.
結局は ('in the end, after all') frames a long-term perspective. 安くつく ('end up cheap, come out affordable') is idiomatic — つく here means 'to cost/come to.' ~の方が marks the comparison implicitly.