To help you make the best decision for your lifestyle, we compared the benefits of leasing and financing at a glance. Which road will you take?
If you like to change things up every few years, or if you're looking to lower your monthly payment, leasing with Volkswagen Credit may be the option for you. Drive a new Volkswagen for a set amount of time and number of miles, and return it to your Volkswagen Dealer at the end of your term. With a variety of lease options, you can choose the term and mileage that best fits your lifestyle and payment needs.
OWNERSHIP: When you lease a vehicle, you do not own it. You pay to use it during the term of your lease, allowing you to drive the latest models.
PAYMENTS: Since you pay for the vehicle's depreciation, plus applicable taxes and fees instead of the purchase price, you can drive a premium vehicle for less than you might with financing over a similar term.
MILEAGE: We offer a variety of mileage options for you to choose from to meet your driving needs. Whatever you choose as your base mileage option, you’ll retain the opportunity to purchase more miles later on.
WEAR AND USE: A normal amount of wear and use is covered in your lease. But, dents, gouges, or chipped glass can happen to even the most conscientious driver. We offer an optional Lease Excess Wear Protection Plan so you can avoid potential additional charges at the end of your lease for incurring excess wear.
LEASE-END OPTIONS: At the end of the lease, you have the flexibility to return your leased vehicle to your Dealer, purchase it for a predetermined price, or buy or lease a new Volkswagen vehicle.
If you can’t wait to make this Volkswagen your own—customize it however you wish and drive it to the ends of the earth—then financing with Volkswagen Credit is the way to go. Financing your vehicle allows you to make payments for a selected term, and at the end of that term, the car is yours. That means total ownership and maybe even equity.
OWNERSHIP: You own the vehicle outright after your financial obligations are met, and you can sell your vehicle or trade it in at any time.
PAYMENTS: Payments are based on the terms of your financing contract. You will have a set number of payments, each of which may help you build equity in your vehicle. Because you’re paying for the vehicle’s full price over the term of your contract, your monthly payment will typically be higher than if you were leasing the same vehicle over a similar term. You can opt to pay your balance off faster by paying more against the principal.
CUSTOMIZATION: Since you are making payments toward the ownership of your vehicle, you can customize it at any time.
MILEAGE: You may drive as many miles as you want. However, if you decide to sell or trade in your vehicle, the mileage may impact its value.
WEAR AND USE: Since the vehicle will be yours once you pay off your contract, there are no charges for excessive vehicle wear and use. If you decide to sell or trade in your vehicle, the excessive wear and use may impact its value.
Whether you want to turn in your vehicle, purchase it, or trade it in for something new, we'll walk you through preparing for the lease-end process.
Have you decided on your next vehicle and are now looking to learn more about your financial options? At Hoy Volkswagen in El Paso, Texas, our team works hard to guide you through the car buying process! Our finance team at Hoy Volkswagen in El Paso, TX, will provide all your financial options based on your lifestyle, budget, and desires. We understand that the decision to finance or lease your vehicle can feel overwhelming, and that is why our team of finance experts near Socorro, TX are here for you! Contact our finance department near Las Cruces, NM, or continue reading to learn more about whether financing or leasing is right for you!
When deciding whether to lease or loan your next Volkswagen Atlas or Volkswagen Tiguan, there are many factors to consider. Leasing a vehicle is perfect for the low-mileage driver looking for flexibility in their purchase. A leased vehicle from Hoy Volkswagen in El Paso, TX, allows you to get the newest model every few years so you can have the latest technology, design, and features to keep you enjoying your ride no matter the destination. Those vehicles are also usually available to you at a lower down payment and with lower monthly payments making them more budget-friendly. The most significant difference available to those who choose to finance is that your payments go towards car ownership. Therefore, once you pay off your vehicle, the entire profit will go into your pocket if you decide to sell. You can also customize and accessorize your vehicle as much or as little as you desire when you own it. Our team at Hoy Volkswagen in El Paso, TX, will work with you to get you the best lease or loan possible when financing a vehicle! Call to get started today!
Now that you understand the differences between financing or leasing a vehicle, better prepare your budget and take advantage of our shopping tools. At Hoy Volkswagen in El Paso, TX, our website allows you to value your trade, estimate your payments, and fill out your financing application. Call or stop by our dealership to learn more about our offerings!