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When it comes to buying or leasing a car the options can be confusing. We want to make the choice easier for you. We have some useful information below to help you make a decision on Volkswagen leasing vs financing.
When buying a new or used car you are paying for the entirety of the vehicle. Leasing a new or used car means that you pay for only a portion of the vehicle’s cost that is paid during the time you are driving it.
The car is yours, whether you are paying for it with cash or getting it financed. When you’re financing it you’ll have to meet the stipulations the lender makes, like a certain down payment amount and monthly payments. Not meeting those rules means that they are entitled to repossess the vehicle.
When you are leasing a vehicle, you are paying for the monthly use of it. The financial institution that you are leasing it through actually retains the ownership of the vehicle. This is normally why you would end up paying less per month if you leased a vehicle than if you were to buy the vehicle.
When you’re financing it, the bank or institution will request a down payment. This amount can vary depending on the requirements and your credit score. Often, your old vehicle can be used as a partial or full down payment toward a new vehicle.
While leases don’t require any type of down payment, paying more upfront can actually lower your monthly rate. When signing a lease, you will normally have to pay is the first month’s payment, a security deposit, an acquisition fee, and any other state fees and taxes.
Your new vehicle will be worth whatever you are able to sell it for down the road, and that can vary depending on how well you keep up maintenance. Performing the Manufacturer’s recommended maintenance can help raise the value!
Since you do not own the vehicle, you won’t end up selling the vehicle. You may have certain mileage limits, or wear and tear guidelines that if you go past those, could end up costing you extra money when you turn the vehicle back into the financial institution.
Once you have paid off the vehicle and any interest that was agreed upon in your contract, the car is yours! The bank will send you a Lien Release as proof that you have paid off everything that was owed to them. At this point, you can either sell the vehicle and buy a new one, or keep it for as long as you keep taking care of the vehicle properly.
There are multiple avenues that you can take at the end of your lease: The majority of people will simply return the vehicle at the end of the lease. There are people that fall in love with the vehicle that they leased and they may end up buying the vehicle from the company. The third option is to turn your lease in before it ends to get a new car with a brand new lease. Just ask about these options and we can go more in-depth to set up the lease as you’d like to!
This is a question best asked yourself! There are many different vehicles that fit different lifestyles. While the beginning of this question is somewhat personal, our sales people at Boucher Volkswagen of Franklin can certainly guide you to what would be a good fit for you. Either contact us, or call us at (414) 338-7945 and ask for help on Volkswagen leasing on top m.
The best vehicles to lease are those that depreciate the least. The cars that hold their value for longer will have smaller payments because the company can recoup more of their money when they end up selling it after you are done with it. Please review the Volkswagen lease deals to see which cars retain their value the best.
Once you’ve had the chance to look over the difference between leasing vs. financing, seal the deal on your next ride around Waukesha. Shop our inventory of new vehicle specials or national offers at Boucher Volkswagen of Franklin to save on your Volkswagen Jetta lease or Volkswagen Atlas lease. You can speak with our sales team if you have any questions or estimate your monthly car payment or value your trade-in online from home to get started. Contact us today for more details on Volkswagen leasing and stop by our dealership here in Franklin!
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