If it's time for a new car for your Newport Beach, CA, family, you can't do better than a new Audi from Audi Fletcher Jones. However, the question remains: should you buy or lease an Audi? The Audi financing team at Audi Fletcher Jones can help you decide between leasing or buying an Audi near Newport Beach, CA. Learn more about the benefits of leasing vs. buying a car with us below, then contact our team to discuss your specific situation or to ask any further questions you have.
Should I Lease or Buy an Audi? What's the Difference?
The biggest difference between leasing and buying an Audi comes down to your long-term ownership of the vehicle. When you buy a new car, you end up paying for the value of that car over time. You may choose to finance the purchase from a reputable lender, like a bank, or through Audi financing, who will own the title to the car until you pay off the loan through monthly payments to the lender. After that, the vehicle is absolutely yours. Buying a vehicle outright gives you the freedom of true vehicle ownership.
On the other hand, when you lease an Audi, you don't take out a loan or pay for the car at all. Instead, you pay for its depreciation over the term of your lease—typically three years—for the right to use it. With an Audi lease, you'll put down a set amount of the total cost at the time of signing and then pay off the balance through monthly lease payments. At the end of your two- or three-year term, you can negotiate new terms and renew the lease, lease the latest model, or even buy your car out of the lease.
Benefits of Buying vs. Leasing a New Audi
No mileage limit: When you own your car, you are not beholden to any limitations from a lease agreement, including mileage. You can take as many trips as you like from Newport Beach to Irvine and back without worrying about eclipsing your terms. With a lease, your mileage is limited.
Ownership goes to You: When you buy your car, you can do with it as you please. Owning a car also helps you build equity with each payment, which won't happen if you lease.
Ability to sell your vehicle: If you ever tire of your car, you can easily sell it or trade it in at Audi Fletcher Jones. Pay off your existing loan at any time, or use your trade-in toward the value of your new car.
Financing is easier than Leasing: If you have less-than-perfect credit, you can usually still finance a new car, and lenders will work with you to get to a rate you can agree on. Poor credit can be an issue when leasing a vehicle, though.
Benefits of Leasing vs. Buying a New Audi
Lower monthly payments: Leasing a car simply costs less month-to-month. You'll also pay a much smaller down payment, and you get to skip the sales tax. You just pay for the vehicle's depreciation over the term of your lease.
Save on repair costs: Your Audi lease is covered by a manufacturer's warranty, which covers most unexpected repairs. Plus, since lease terms are generally short, you won't have to worry about a big routine maintenance milestone either.
Easy trade-ins: When you've met your lease terms, you can bring your car back to Audi Fletcher Jones—and after making your final payments, drive back home to Laguna Beach or Huntington Beach in your new Audi Lease.
The newest technology: When you lease a vehicle from Audi Fletcher Jones, you'll always have access to the latest technology and features Audi has to offer, like Audi connect®. Once your term expires, you'll get behind the wheel of another new Audi and continue the cycle.
Learn More About Buying or Leasing an Audi from Audi Fletcher Jones
If you still have questions about the benefits of leasing versus buying a car or how the Audi financing process works, reach out to the finance center at Audi Fletcher Jones. We're committed to helping Costa Mesa and Irvine shoppers get behind the wheel of their dream car. You can also check out our online tools, like our Value Your Trade tool and secure finance application to further that shopping process from home!
