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Leasing a car is often a better choice than buying for some Silver Spring, MD drivers, thanks to leasing’s lower monthly payments, less obligation, and the ability to drive the latest Audi cars when they are first released.

However, if you are new to leasing or a seasoned veteran, leasing comes with a number of terms that do not when buying a car. To help you get the most out of your Audi lease, our dealers have prepared this list of the most common vocabulary around leasing.  

The Basics of a Car Lease 

The most basic thing that you should understand about a car lease at our Silver Spring Audi dealership is that it is similar to a long-term car rental. You have the leased Audi car for a set amount of time, and at the end of the lease, you return it to our dealership.

Here are some additional lease-related terms that you should understand.  

  • Early termination: If you decide to end the lease before the agreed-upon time as specified in the contract, it can result in fees. Good gap insurance covers penalties such as these.  
  • Gap insurance: Gap, or guaranteed auto protection, insurance represents the gap between what your insurance company pays and what you owe the lessor at the time the leased Audi becomes history. It also pays off the lease balance if the car is stolen.  
  • Mileage allowance: The maximum number of miles that a leased vehicle can be driven per year without incurring a penalty.  
  • Wear and tear charges: Charges for damages to a leased car that are greater than normal or reasonable.  

Sign Up for an Audi Lease Today

Get the ball rolling on your Audi lease right here at Audi Silver Spring. We are here to answer your questions and address your concerns!  
Categories: Finance