Should I Lease or Finance My Audi?

Financing vs. Leasing: Which One is Right For Me?

When you are shopping for a new Audi vehicle, to drive in Traverse City, there are multiple ways to pay for it. Your options include financing your car or leasing it. Both of these options help provide a lot of financial flexibility, and both have distinct advantages. Picking the option that is right for you depends on what you need out of your vehicle. Here is what you need to know about your options for paying for a new vehicle from Audi Petoskey.

What is Car Financing?

When you finance a vehicle, you take out an auto loan so that you can buy it right away. You leave the dealership as the owner of the car. You then have to pay back the auto loan over time, with interest added. Financing a vehicle is a great option for drivers who want to own their vehicles from day one. When you buy a used car, financing is likely going to be how you pay for it.

When you finance a vehicle, you own it. You can drive it as long as you want, and even modify it as you please (although some modifications can void your auto insurance, so be careful).

How Does a Car Lease Work?

When you lease a vehicle, you pay the dealership a monthly fee for the ability to drive it. You don't take ownership of the vehicle, but you can drive it for the duration of the lease. At the end of the leasing period, you return the vehicle to the dealership, at which point you can trade it in for a new vehicle to lease, or buy it outright and take ownership of it.

When you lease a vehicle, you can drive it during its prime years of performance, then turn it in for another new car. If you love driving new cars, then leasing might be the way to go for you. You can also treat your leasing period like an extended test drive, getting two or more years of driving a vehicle before deciding to buy it.

Buy or Lease a Vehicle from Audi Petoskey

If you want help figuring out if you should buy or lease a vehicle from our dealership, our Finance Center in Petoskey can help! To learn more about financing or leasing a vehicle from our Audi dealership, contact us today!

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