Loan Versus Lease: Which is Right For You?
One of the biggest decisions you'll need to make is whether to take out a loan to purchase or lease a Subaru. It's not a one-size-fits-all choice, as both options have their upsides. In order to determine whether a loan or lease is right for you, you'll need to assess your personal circumstances and decide what you want most in your Subaru. Each option is likely to appeal to a different group of potential owners.
Advantages With a Loan
The biggest advantage to taking out a loan to purchase is that you're creating long-term value with this option. After you've paid off the loan, that Subaru is yours forever. You can sell it, trade it in to lower the cost of your next auto purchase, or pass it down to a child or other relative.
A loan is also the better option if you're planning to modify or customize the vehicle. And if you're planning to put unusually heavy mileage on the vehicle, a loan is also likely to be the choice for you, as leases are set up expecting more normal mileage usage.
Advantages With a Lease
Taking on a lease is a great choice for someone looking to stay in a new model Subaru over the years. Periodically, you'll be given the option of renewing your lease and trading in the Subaru you were driving for an updated new model. This lets you continue to experience developments in technology, styling and other upgrades that Subaru engineers as time goes by.
A lease monthly payment is also less expensive than a loan for the same model. This gives you the flexibility to upgrade to a higher trim level or devote a smaller percentage of your monthly budget to an auto payment.
The Finance Center Will Help You Find the Best Deal Possible
At our dealership, our finance center is staffed with a team of experts ready to assist you in finding the best terms on your Subaru purchase, whether that be a loan or a lease. We can work with you to determine the parameters of your budget and financial situation and choose a payment plan that fits seamlessly into your finances.
We also offer a robust suite of online financial tools to help you get the financing process started before you arrive at the dealership. Check out our Value Your Trade tool to get an idea about how much you'll be able to get for your current vehicle. And try out our online financing pre-approval tool, where you can enter a few pieces of financial information and determine what kind of credit will be available to you.
Making decisions about the financial side of an auto purchase can seem intimidating at times. But at our dealership, we're committed to making sure you feel empowered and informed at every step of the way in guiding you to make the right choices for yourself. Try out our online finance tools at home or on your mobile device, and set up an appointment, or give us a call with any questions you might have.
