Should I Buy or Lease?
When it comes to investing in a new Audi, choosing between leasing or buying is a tough decision. What's the difference between the two? Does one give you more freedom than the other? Here at Audi Lakeland, these are the type of questions we encounter regularly from customers. Many drivers are familiar with purchasing a car, but some aren't quite sure about leasing. Both can be helpful avenues to take when considering a new Audi from our inventory, but to help you out, we've compiled the pros and cons of both options. To learn the benefits and disadvantages of buying and leasing, keep reading. If you have further questions, our finance experts can help.
Why Lease
a Vehicle?
Minimal Upfront Cost
Leasing is like renting. If you decide to lease your new Audi, you agree to make monthly payments with the knowledge that you'll return the vehicle to the dealership at the end of your agreed lease period. A down payment for a lease contract is typically lower than if you were to purchase, making your upfront cost much less. We frequently offer new car specials with lease offers that have lower monthly payments, which means that leasing could be better for you in the short term.
Lifestyle Flexibility
There are certain flexibilities that come with leasing that buying can't offer. On average, lease terms last for 2-3 years (or 24-36 months), which tend to be shorter than buying. Lessees are typically given around 12,000-15,000 miles per year on the vehicle, but there's an option to purchase more miles if needed at signing. Unlike purchasing, you have the ability to lease a brand-new car every few years without the hassle of selling or trading. Plus, you still have the option to purchase your Audi at the end of your lease if you decide you don't want to part with it.
Warranty Protection
Because lease terms last on average between 2-3 years, your new Audi will most likely still qualify under its manufacturer warranty for your entire lease. What does that mean for you? Any damages or repairs that qualify under the warranty aren't your financial responsibility, and most new cars won't require extensive repairs anyway.
Why Purchase
a Vehicle?
True Freedom
Although leasing has its advantages, only ownership offers you true freedom. After you've
completed your monthly payments, your Audi is yours to keep, sell or trade. You can also
choose a new paint color or upgrade the audio system without getting permission whenever you
want. You'll have the luxury of true independence that you would expect from owning a true
luxury vehicle.
Financial Flexibility
Despite the typically larger down payment, buying your Audi may be more fiscally responsible in the long run. Not only do you have more financing options than leasing, but after you've finished making your monthly payments, that money (including your down payment) is secured when you keep your vehicle. You'll see better return on your investment when you purchase, unlike leasing.
No Mileage Restrictions
It’s just a fact. When you buy, you’re in charge. Mileage restrictions don’t apply (and the fees if you go over), and you won’t need permission to leave the country in your car, either. Ownership means autonomy from lenders and the freedom to go as you please.
If you’re ready to be the proud owner or lessee of one of our new models, feel free to contact us online or visit us at 1215 Griffin Rd., Lakeland, FL 33805. We look forward to serving customers near North and South Lakeland, Orlando and Tampa.
