Financing vs. Leasing

Audi interior cockpit

Some car shoppers are determined to have the independence that comes from owning their car. Other drivers opt for the flexibility that comes with leasing a vehicle. At Audi Ontario, we can help you get into a phenomenal Audi vehicle no matter which route you want to take. Here are some of the pros and cons of both financing and leasing.

Why Finance a New Audi?

Unless you're purchasing outright, ownership mosts often comes through financing. You'll have to apply for financing and accept the terms of your monthly payments, but once the vehicle is paid off you own it in full. You'll have the title in hand, you'll be able to customize in any way you want, and you can sell the car whenever you plan to move on.

And unlike a lease, which usually has have mileage limitations, a purchase means you don't have to worry about hopping in your new Audi for a long roadtrip: No one's stopping you from driving across the country and back as many times as you like.

When it's time to replace your car, you'll have its remaining value to put towards your next vehicle, either as a dealer trade-in or through private sale. Audi vehicles retain value well, and if you do your part to keep it well maintained aesthetically and mechanically it'll make a solid down payment towards your next vehicle.

It is necessary, though, to consider depreciation. When you drive any new car off the lot, it loses a substantial chunk of its original value. You'll also be on the hook for any service or repairs the car may require once its warranty expires--another set of costs you may want to consider.

Why Lease a New Audi?

When you lease a new Audi, you're not married to that one car for any longer than your lease term, usually 36 or 48 months. The Audi dealer will still technically be the owner of the vehicle, and may cover some routine maintenance and service.

As opposed to financing, a lease keeps you from the headaches of depreciation. In fact, the car's value depreciation is basically all you're paying for (plus taxes and interest), and, depending on your credit situation, lease payments can often be lower than the monthly rate that comes with financing. When the lease ends after a few years, you have options. You're able to purchase your existing car at a good price, or return your vehicle and start a new lease, allowing you to always stay in the newest Audi models with the latest technology.

But leasing does come with guidelines to consider, like possible mileage restrictions. Exceeding that or racking up excess wear-and-tear on your leased car could bring hefty dealership fees when it's time to return the lease.

Audi Finance and Lease Offers in Ontario

Once you've weighed your options, visit us at Audi Ontario to see the vast selection of powerful new Audi models in our lineup. Our team is here to help you get both a vehicle and a financing or lease plan that truly fits your life, so if you have any questions before you come in, don't hesitate to contact us online today!