Deciding between leasing and financing a car is common for many shoppers looking for their next vehicle. While there's no universal answer that applies to everyone, the simplest response is, "It depends." Helpful? Not quite, but Audi Wyoming Valley in Wilkes-Barre, PA, understands how challenging this decision can be. That's why we've created a quick guide that outlines the key pros and cons of both leasing and financing. Whether you're new to car-buying or a seasoned pro, this guide will help you confidently choose the option that best suits your needs.
Leasing or Financing Your Audi in Wilkes-Barre, PA
Why Lease Your Next Audi?
Leasing Pros
- Get behind the wheel of a higher-end vehicle for less money
- Shorter commitment with loan terms typically lasting 24 to 48 months
- Enjoy driving a new vehicle more frequently
- Lower repair costs thanks to included maintenance plans
- Pay less in sales tax
- Options for little to no down payment
Leasing Cons
- Mileage limits restrict your vehicle use
- You don’t own the vehicle at the end of the lease (though buying is an option)
- Exceeding mileage limits can result in costly penalties
Why Finance Your Next Audi?
Financing Pros
- Full ownership of the vehicle once the financing terms are completed
- Trade in your vehicle whenever you’re ready for something new
- Modify or customize your car however you like
- No mileage restrictions—drive as much as you’d like
Financing Cons
- Higher monthly payments compared to leasing
- It generally requires a larger down payment upfront
- You're responsible for repairs once the maintenance plan ends
- Your investment is tied to a depreciating asset
