If you’re in the market for a new Audi car such as the 2017 Audi Q7, you may be wondering if you should lease, finance, or pay cash. How you pay for a vehicle is a big decision and our finance experts can help you make the right choice based on your unique financial situation.
In general, leasing is often the right move for people who don’t drive more than the average motorist. When you lease a vehicle, you’re basically renting the automobile for a pre-determined period of time. You’ll make monthly payments during the course of your lease that will offset the depreciation your car experiences during the time you have it. You won’t build up any equity in the car and you will not own it at the end of your lease.
When you finance an automobile, a lender will hold the car’s title until you pay off your car loan. You’ll normally pay interest on the money you borrow to pay for your vehicle although qualified car buyers may be eligible for zero percent financing in some instances. Once you pay off your loan, you’ll own your automobile in its entirety.
If you pay for a car in full when you purchase it, you’ll own it outright from the get-go. You won’t have to worry about adhering to mileage or wear and tear conditions as you would with a leased vehicle. You also won’t have to involve a lender if you decide to sell your car as you would if you financed it and hadn’t paid off your loan yet.
If you’re thinking about getting an automobile and wondering if leasing, financing, or paying cash is the right move for you, visit our Los Angeles, CA Audi dealership to talk to our finance experts. We’ll get to know you and talk about your financial situation. Based on the information you share, we’ll help you make the right choice. Stop by Keyes Audi today.