As you begin your search for your next vehicle, one of the most common questions we get asked is whether or not it makes more sense to buy or lease. While it's certainly true that both can offer their own advantages, it's important to consider a variety of factors related to your specific situation. In order to help you make an informed decision, our team at Audi Ann Arbor has assembled this in-depth guide that covers the pros and cons of both buying and leasing your next vehicle. In addition to our competitive incentives and specials, our team of finance experts can custom-tailor a finance or lease solution that meets your needs.

Benefits of Buying a Car

Ownership Equity

Once you're finished paying off your vehicle, your trade-in value can put you in an equity position while purchasing your next vehicle.

Flexibility

When you purchase a vehicle, you can customize it with aftermarket parts and accessories, and drive as many miles as you like without having to worry about any mile overage fees.

Low Interest Rates

We offer new vehicle financing rates as low as 0% APR with qualifying credit on your next Audi vehicle.

Affordable Payments

In addition to great financing rates, we have loans available for up to 84 months, allowing you to get a new Audi no matter your budget.

Benefits of Leasing a Car

No Effect on Trade-In

At the end of your lease you won't have to worry about your car's value and how it will affect the purchase of a new one.

Low Cost Repairs and Maintenance

Your car is typically covered under the factory warranty for the duration of your lease, so you can rest easy.

Flexibility

If your wants and needs change, you'll be able to choose a different model every 2-4 years (the duration of your lease).

Lower Monthly Payments

Since you're driving a vehicle for a specific time period and with a fixed mileage amount, your monthly payments may be significantly lower.

Frequently Asked Questions About Buying vs Leasing a Car

How old do you have to be to lease a car?

To lease a car, you have to be 18 years old.

If you saved enough money for a 20% down payment, should you buy or lease?

Buying a vehicle may be the best choice because the large down payment will help keep your monthly payment costs low and will help pay off your car faster.

If you're into the latest technology for your car, should you buy or lease?

We recommend leasing your car if having the latest technology is a priority for you. Most lease agreements last 2 to 4 years, so you will always be driving a car with the latest technology features.

If you have a long daily commute, should you buy or lease?

Most lease offers have a mileage limit, so we recommend buying a vehicle if you have a long daily commute.

When is the best time to lease a car?

The best time to lease is shortly after the model year is introduced because that's when the residual value will be the highest. In other words, there's a good chance you'll save money on the deprecation cost.

Can you modify a lease car?

It depends on the dealership. Modifying your car by adding a remote start system or setting up a different stereo system may not be a problem. Check with your dealership for more details.

Can you buy the vehicle at the end of the lease?

If you're nearing the end of your lease and you realize the car meets your lifestyle, you can definitely buy the vehicle. Your lease contract will detail the price at which you can purchase your vehicle at lease-end. Contact your sales consultant to learn more about financing options.