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Audi is a brand that has marketed its cars to exude class, luxury and confidence. It has a wide range of sleek vehicle types, along with a logo you know and love displayed on the hood. Audi has also expanded its range to include small cars and sedans. Read on to learn about the financing options available for your new Audi.
It may be cheaper to get a loan from a bank, credit union or online lender, however, this can also be time-consuming. Financing through an Audi dealership can get you behind the wheel faster, but may result in higher interest rates. If your credit score is good, however, you may be able to leverage multiple competitive loan offers to land a better deal from your dealership.
The rates and terms you qualify for will vary based on your credit score and personal finances.
Chantal, a resident of B.C., recently got a big promotion and wants to buy herself a new car to celebrate. For months, she has had her eye on a 2020 District Green Metallic Audi A5 Sportback going for $54,500.00 at a nearby dealership. She goes to the dealer and makes a 20% deposit of $10,900.00 on the car, applying for dealership financing to cover the rest.
Because of her strong credit history and good income, Chantal is approved for a loan to cover the outstanding amount ($43,600.00) plus 12% GST/PST. In addition to the cost of her car loan, Chantal also pays approximately $50.00 to register the vehicle with the Insurance Corporation of British Columbia (ICBC) – this includes the cost of a license plate, insurance decal and vehicle permit as well as the registration fee.
|Cost of new vehicle||$54,500.00|
|Loan type||Auto loan (term loan)|
|Interest rate (APR)||5.90%|
|Loan term||7 years|
|Additional fees||4.00% origination fee ($2,005.60)|
$0.00 application fee (waived by dealership)
|Payment||$730.07 monthly or $336.60 biweekly|
|Total loan cost||$61,325.88 with monthly payments or $61,261.20 with biweekly payments|
*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.
Audi has several programs available to welcome returning customers and newcomers to Canada. All programs are subject to credit approval.
With luxury at the forefront of design, a new Audi comes with a hefty price tag. The cheapest models don’t dip below $30,000 — and the R8 has a base MSRP of $169,900.
Yes, Audi offers a New Vehicle Limited Warranty covering defects on material and workmanship for 4-years or 80,000-km, whichever comes first. The warranty also includes:
Besides the above benefits, your Audi will also get an extensive pre-delivery inspection before it’s given to you, and you’ll get your first maintenance service free of charge at the earlier of 1 year or 15,000 km. Audi also offers new car owners complimentary 24-hour, year-round roadside assistance, which lasts as long as the New Vehicle Limited Warranty.
If you’re particularly cautious and don’t mind purchasing extra coverage, Audi offers additional products that can cover your vehicle with regards to mechanical breakdowns, appearance, excess wear and tear (if your vehicle is leased), vehicle replacement in the event of a loss, loan protection and anti-theft protection. You can speak to an Audi After Care Specialist for more details.
If you opt for a certified pre-owned vehicle instead, Audi offers a different 2-year/80,000 km Certified: plus Limited Warranty that goes into effect when the New Vehicle Warranty expires. So, in total, you get some form of coverage for 6 years/160,000 km, even though the type of coverage changes when the New Vehicle Limited Warranty expires.
Audi is the epitome of luxury, and the prices of their vehicles reflect this. Luckily, you have plenty of financing options available depending on whether speed or affordability is your main concern. While a car loan from a bank or online lender typically comes with lower rates, you can likely get behind the wheel faster if you finance through an authorized dealer. Whatever your choice, as an Audi driver you will still get to enjoy the extensive coverage and superior support services that this luxury brand has to offer.
Check out our guide to car loans to learn more about how they work and compare lenders.
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