Benefits of Leasing an Audi in Kansas City
Many of us have been told all our lives that owning something outright is the only way to go. The most common example is the idea of owning a home, which is well-woven into the fabric of the American dream. After all, who wants to sign a temporary lease year after year?
The same logic is often applied to car ownership. In our business, we get asked the question all the time: “Why do people lease cars?”
As it turns out, there are numerous advantages to leasing a luxury car near Overland Park. For the uninitiated, here are a few ways that leasing vs. buying could be the right decision for you.
How Leasing Works
Essentially, a car lease is a long-term rental. You sign a contract on a late-model vehicle of your choosing, and you get to drive it home and keep it for an agreed-upon period of time—on average, a lease lasts about three years, but terms are flexible.
The monthly payment is calculated using the projected depreciation over the term of the lease. Instead of financing the entire value of the car, you’re only paying for the expected difference in value between the beginning and end of the term. So, what does that mean for lessees? Well, the upshot is that monthly lease payments are almost always lower than they’d be if you financed the same car.
Lease contracts also have stipulations regarding the condition of the car. Since you don’t technically own it and you’re going to return it in a few years, you’ll be expected to keep the vehicle in good shape. The contract will also specify how many miles per year you can drive. The typical range of mileage is between 10,000 and 15,000 annually, which is on par with the average mileage driven by most people.
So, what happens at the end of a lease? If the car is excessively damaged or dirty, or if you go over the agreed-upon mileage, you’ll have to pay the difference. But, as long as the vehicle is in solid condition, you can simply drop it back off at the dealership in a quick and easy process.
Advantages of Leasing a Car Near Leawood
Now that we’re all on the same page about what leasing entails, here are some of the upsides to leasing.
Less Money Down
When you finance a new car, you’ll likely need to lay down a significant chunk of change as a down payment (the general rule for a new car is 20% of its total value). When you lease, you’re only paying for the expected drop in value over a two-to-four-year period, so the cash due at signing may be less than half of what it’d be if you took out a loan.
Lower Monthly Payments
By the same token, since you’re only covering depreciation and not taking a loan for the entire price tag of the vehicle, your month-to-month lease payments should be significantly lower. This allows you to drive a far newer and nicer car for a lot less money out of pocket.
Audi Lease Deals, Incentives, and Specials
Dealerships—including our Audi dealership—are pretty much always running lease specials, which can save you even more money and guarantee you a favorable rate. Audi also offers monthly incentives and rebates.
Warranty Coverage
Because the bulk of leases are brand-new models, it’s likely that the vehicle be covered by the new vehicle warranty for the entire duration of the lease. This can be especially valuable if you ever need roadside assistance, and some warranties even cover scheduled maintenance.
New Cars Have Fewer Problems
One of the biggest upsides of driving a new vehicle is that there’s zero inherited wear and tear. As long as you keep up with maintenance, this all but guarantees you won’t run into any mechanical issues or faulty components.
The Newest Models Have the Newest Tech
Another benefit of driving a late-model car is that you get to try out all the latest infotainment and driver assistance features. Having the most up-to-date safety features has the added perk of giving you peace of mind when you drive. If you’re the type of person who regularly gets a new car every few years because you like to enjoy the most up-to-date bells and whistles, you’re probably a great candidate for a lease.
No Headache When You Sell
Returning a lease is as easy as pie. If the car doesn’t have any excessive damage and the mileage is within the agreed-upon limit, there will be minimal lease-end fees, and all you have to do is hand over the keys and go about your day.
Optional Lease Buyouts
Alternatively, if you absolutely fall in love with your luxury car throughout the lease, you don’t have to get rid of it. You’ll be offered the option to purchase the car for the predetermined price, and because this price is usually set at the beginning of the lease, doing a buyout can save you money in the long run if new car prices have increased over your term.
Audi Lease Rewards
As a bonus, Audi lessees stand a chance to reap some extra goodies, including a loyalty bonus on their next Audi, preapproval on their next lease, and waived turn-in and disposition fees.
When Should You Not Lease a Car?
As with anything in life, leasing may not be for everyone. We might recommend financing instead if you:
- Value long-term ownership
- Prefer an older, less expensive model
- Drive more miles yearly than the average person (long commutes, traveling for work, etc.)
- Are prone to keeping a messy car (e.g. if you have young kids)
If you’re still on the fence about whether leasing a car is a good idea, contact our Audi professionals online and we’ll help to figure out the perfect deal for you.
Find Audi Lease Deals Near Grandview
Audi Kansas City is your premier destination for high-performance luxury models, and our convenient location at 10330 Madison Avenue in KCMO allows us to serve shoppers on both sides of the state line. Give us a call at (888) 995-7816 to inquire about leasing an Audi Q5 in Kansas City today.