Buy vs Lease

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Should You Lease or Buy from Bay Ridge Volkswagen in NY?

If you’re in the market for a new vehicle, you’ll have two main paths to consider. Both Volkswagen financing and Volkswagen leasing offer unique benefits that are worth exploring. Although financing is often familiar, opting for a Volkswagen lease can bring a number of benefits.

While there may be several reasons why people consider leasing a Volkswagen from Bay Ridge in Brooklyn, three of the most common are: They enjoy driving a new vehicle every few years, they use the vehicle for business, or they want the lower monthly payments typical of a lease.

These are great advantages that come with a Volkwagen lease, but some drivers still aren’t sure which option is right. Below, you can compare Volkswagen leasing vs. financing with our team to decide if you should swing for a VW Tiguan lease or opt for financing!

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Is Leasing a Bay Ridge VW Less Expensive Than Buying?

While the price of the Volkswagen may not be less expensive, the monthly payments for leased vehicles are typically lower than the monthly payments when you buy. This is because you are only paying for the part of the car or truck that you are using. In other words, you are paying for the depreciation on the vehicle over the duration of the lease. When you buy, your monthly payments reflect the entire purchase price of the vehicle. Because of this, people who choose to lease can often times lease a more expensive vehicle and have the same monthly payments as if they bought a less expensive vehicle.

What Other Costs Are Associated With a Volkswagen Lease?

Similar to renting an apartment, costs associated with leasing a VW typically include first month’s payment plus a security deposit that is refundable. Often gap insurance, which covers the difference in price between the value of the car and what your insurance company will pay if the car should be damaged or stolen, is also required. There may also be a mileage fee if you drive over the annual mileage limit set in your lease agreement.

These upfront costs are usually not required when buying a vehicle. Other costs such as a down payment, sales tax (on the full purchase price), loan interest, and miscellaneous government fees usually come into play when buying. To help you decide if you should lease or buy, compare the highlights of each option here:

Volkswagen Lease Benefits:

  • Easy access to new models
  • Low payments
  • Simple return process

Volkswagen Finance Benefits:

  • Ownership of a valuable asset
  • No mileage caps
  • Freedom to customize

What Happens at the End of My Lease?

What do you do at the end of your VW Tiguan lease? When your lease expires, you pretty much return the car or SUV to the dealership and walk away or discuss the option to purchase the vehicle from the dealership. Sometimes, there may be end-of-lease costs for things like excessive mileage or scratches and dents that are considered beyond normal if you do turn the VW back into Bay Ridge in Brooklyn, NY.

Additionally, when turning in a lease, you usually don’t retain the same value as if you were trading in a car you purchased, and you can’t sell it to a third party without purchasing the balance of the value of the car. In other words, the trade-in value of a vehicle you buy is usually worth more, and you always have the option to sell yours to a third party.

Explore Volkswagen Leasing & Financing Today!

When you need to refresh your commute from Staten Island to Bronx, Bay Ridge Volkswagen is the place to shop. Our team can help you compare your Volkswagen lease vs. Volkswagen finance options to help you make an informed decision. If you’re not sure if you should swing for a VW Tiguan lease or go with the familiar financing option, contact us today for a consultation or visit us near Queens!

Bay Ridge Volkswagen is located at: 8910 4th Avenue • Brooklyn, NY 11209
Bay Ridge Volkswagen 40.620234, -74.0318654.