Leasing Luxury, Audi Style
Like most major luxury car companies employing their own financing options, Audi Financial Services operates as an internal arm to leasing. Plans between 12 months to as much as 48 months is the gateway for American motorists to seat themselves (and possible family) behind the wheel of the four-ring badged German luxury car. Offering a one year leasing term, Audi Financial Services differs from Mercedes-Benz’s lowest lease term of two years. Available with allowances of 10,000 and 15,000 mile per year, leasing options hold motorists to a rather restrictive travel distance. Leasers exceeding the allotted mileage will be assessed standard overage rates.
A more friendly arrangement for shorter-term lease, Audi Financial Services is also outreaching to younger buyers through a new university graduate program. Under the College Grad Lease option, past university students who have graduated from an accredited institution within two years qualifies. College Grad Lease appliers are required to prove a full-time job where a lease payment must account for less than 25% of employment income.
For anyone leasing any vehicle, the agreement grants the leaser usage of a vehicle through the scheduled time period. When holding temporary possession of a luxury car, a duty of care for returning an upscale vehicle in best possible position is paramount especially since parts and service for Audi products is traditionally high. Inspecting he automobile once the vehicle is turned in, Audi has clearly defined criteria for how what is defined as “normal” use and “excess” damage. While a single windshield glass chip is not a concern, cracks or considerable spidering could levy a repair bill. Dashboard service lights, heavy tire wear and other physical damage is also common aspects under investigation through the inspection.
If severe damage or theft takes place during the lease term, GAP coverage is a mechanism attached to comprehensive insurance allowing the leasing party to be excused from financial burden of the lease term payments. A feature also presented on BMW and Mercedes-Benz leasing agreements, GAP coverage is automatically included on all leased Audi vehicles.
While the price of luxury can be numbed through leasing, the care and attention needed is an element leasers must appreciate.
Information and photo source: Audi USA