Leasing a pre-owned Audi is easy. It can be done in a few simple steps.
By choosing to lease, you also have access to a wider range of Audi vehicles than perhaps you would when buying.
But is leasing a pre-owned Audi better than buying? We’re going to find out, but first, we must understand what leasing entails.
What Is Car Leasing & How Does It Work?
Leasing a car is when you pay a fixed amount each month, and in return, you have access to the car you want. There are three types of lease you can choose from:
Personal Contract Purchase: Pay your monthly payments and at the end choose to part exchange the car, keep it or hand it back.
Personal Contract Hire: Make your payments each month, then hand the car back when your agreement ends.
Lease Purchase: Meet your payments, and when your plan comes to an end, pay the balloon payment and keep the car.
With all three, you have the option to part exchange or swap your vehicle throughout, although charges may apply.
How To Lease A Pre-Owned Audi
As we said at the beginning, leasing an Audi is simple. It’s a short, hassle-free process that can be completed in four steps. Below is your journey with Hippo.
- Find The Audi You Want
Search our comprehensive range of used Audis online and find the one that suits you.
- Find The Right Finance Option
Speak to one of our account managers and work out which finance option is best for your circumstances.
After everything has been signed, we’ll deliver your Audi directly to your doorstep at a time that suits you. Alternatively, you can collect it from our showroom.
- Enjoy Your Audi
Plain and simple, it’s time to enjoy your Audi.
What Credit Score Do You Need To Lease An Audi?
When you choose to lease – or buy through hire purchase – your lender will carry out a credit check before finalising your agreement.
It’s to make sure you’ll be able to afford the car you’re interested in and reassure them you’ll make your monthly payments.
To lease an Audi, it’s no different. You’ll have to carry out a credit check. But your credit score doesn’t have to be perfect to get behind the wheel of a used Audi.
There are several lenders who are designed to support those specifically with adverse or less-than-perfect credit.
So, even if you have bad credit, it’ll be worth carrying out a soft credit check to see which lender will suit your application.
A dealer should be able to provide this service.
Advantages & Disadvantages To Leasing An Audi
As with any financial decision you make, there are advantages and disadvantages when leasing a pre-owned Audi. Let’s take a look at them.
Advantages Of Leasing An Audi
Prestige Vehicle With A Low Monthly Cost
The beauty of leasing is you can drive a prestige vehicle without having to pay the large price tag that usually comes with it. That’s particularly applicable when it comes to Audis.
That’s because they hold their value well, and with a lease, you’re only paying the depreciation, so you’re paying less for the vehicle than you would if you bought it.
Low Maintenance Costs
Audis are well-known for their reliability. Because of that, even if you lease a used one, it’s unlikely you’ll face any significant maintenance costs.
Of course, you can’t predict unforeseen events, but by choosing an Audi, you’re lowering the risk of having big maintenance bills.
And if you want extra peace of mind, you can also include additional products into your agreement which protect you from malfunctions or total loss.
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Alongside expert engineering, Audi also leads the way in terms of in-car technology. That means, even when leasing a used model, you have access to an abundance of tech and features.
Another positive is a lot of Audi’s class-leading technology comes as standard on entry-level models, so you don’t have to pay a small fortune for an upgraded experience.
By leasing a used Audi, you’re already saving on big monthly payments and, typically, maintenance costs, too. But another way you’ll enjoy low-cost motoring is the engines’ fuel efficiency.
Audi is known for creating some of the most economical power units in the world, and although you do pay a small premium for their engineering mastery, it’s often worth it in the long run.
Styling That Lasts
Unlike other designs on the market, Audi vehicles stand the test of time. Their looks are innovative yet unoffensive.
That means even when you’re getting towards the end of your lease, you won’t feel as though your car stands out as old or out of fashion. Plenty of older Audis are still on the road, and they often look as good now as they did when they were first designed.
Disadvantages Of Leasing An Audi
Limited Benefit Of Residual Value
When you choose to lease over buying, although you’ll have lower monthly payments, you don’t get to take full advantage of the car’s residual value at the end of your term.
As Audis hold their value well, if you bought one instead of leasing, you’d have a sizeable lump sum available should you choose to part exchange it or sell your car privately. With leasing, you often don’t.
When you choose to lease an Audi, you’ll want to drive it a lot. The smooth ride, ample tech and overall outstanding motoring experience makes it difficult to resist.
But with a lease, you have to adhere to your mileage restriction – which you agree at the start – or face extra charges when your term ends.
Should You Buy Or Lease A Pre-Owned Audi?
Whether buying or leasing a pre-owned Audi is best for you depends on your circumstances.
If you want flexibility and low-cost motoring, then leasing is best for you. However, if owning the car is important to you, then buying is often a more cost-effective way of doing it.
Whichever avenue you choose to go down, we can help you on your journey. Search our website to find the model that’s right for you.