knk9

Hi,

Other than the fact that the vehicle is in your name, are there any other differences between Premiere Purchase and Lease?

What happens to the GAP coverage if the car is stolen or totaled? PP doesn't offer such a thing. Any other drawbacks of benefits having the vehicle in your name? Premiere Purchase has lower APR than lease, according to my dealer..

Thanks in advance.

knk9

RKA

In my state, you don't pay sales tax if you lease (ordinarily 6%). Instead, you pay a lease tax of 9% on top of your monthly lease payment. If/when you choose to buy out the vehicle at lease end, you would incur a 6% sales tax based on the buyout price on the lease.

With premier purchase, you are buying the vehicle, so you would get charged 6% sales tax up front on the purchase price of the vehicle.

Your state's tax laws might differ, so check on that, if you think it might make a difference in your decision.

Also, if you choose to sell the car before the term is up, it's somewhat difficult to get out of a lease. However, with premier purchase, the car should be yours to do with what you please...just as long as you pay Audi Financial what you still owe on the car.

mdwsta4â„¢uroslut

that could be the reason that GAP is not available. personally, i think both are stupid. i'd just assume BUY the car so it's mine. the nice part about premier purchases is since the vehicle is titled in your name, you could get out of it easier than you could a lease.

knk9

Thanks for your reply.

NY state.

I am not interested in owning the vehicle after the warranty is over so PP/Lease works fine for me.

Do you know what the process of getting out of the PP before the term is over?

Thanks!
knk9

mdwsta4â„¢uroslut

you can't just give the car back w/o paying the remaining payments since you signed a contract at X term.

knk9

in leasing? Thanks!