Leasing vs. Buying a Subaru Near South Chesterfield, VA
Making Car Buying Convenient & Stress-Free
Congratulations on making the important decision to buy a new Subaru. After you’ve chosen your new Subaru, the next step is to decide how to pay for it. Drivers near Richmond and Newport News turn to CMA’s Colonial Subaru because our finance team makes getting a loan or lease convenient and stress-free, and we can help you choose between leasing and buying, too.
What To Know About Leasing a Subaru
Leasing is a popular choice for Subaru drivers who want lower payments and new vehicles every two or three years. When you lease a vehicle, you are essentially entering into a long-term rental. Lease payments are usually lower than auto loan payments, because the payments are factored on the time you drive the vehicle and the mileage limit you choose.
Most leases have terms between 24 and 36 months. They also usually have annual mileage limits between 10,000 and 15,000. At the end of the lease, you return the vehicle to CMA’s Colonial Subaru, or you can purchase it for a predetermined price. If the vehicle has excessive miles or wear and tear, the leasing company will assess fees.
Leases have several benefits and considerations. When you lease, you can get a new car every two or three years. That new car will come with the latest technology, safety features, and fuel-efficient powertrain. You’ll also have a warranty during the lease term, which reduces your out-of-pocket expenses. It’s important to know that when you lease, you aren’t building equity. Leases also have restrictions on modifications and customizations.
All About Auto Loans
Subaru drivers also appreciate the benefits of traditional auto loans. When you finance with a loan, you don’t have mileage, customization, and wear-and-tear limits. At the end of the loan, you’ll own your Subaru - a valuable asset that is built to last.
While your Subaru comes with a fantastic factory warranty, many auto loan terms exceed the warranty limits. So, if you decide to keep your vehicle beyond the warranty limits, you’ll have out-of-pocket expenses for maintenance and repairs. Our finance team can help you extend your vehicle protection with our Added Security® Plans.
Lease vs. Buy: What’s Best for You?
So, what’s best for you: leasing vs. buying? The answer comes down to your lifestyle and driving needs. If you drive fewer than 15,000 miles annually and you aren’t concerned with building equity, a lease is a great choice. You will have low monthly payments and a new car every few years.
On the flip side, auto loans are perfect for drivers who want to own their vehicle and drive more than 15,000 annual miles. Before you make your choice, we recommend checking out the incentives and specials on our website, and we can help you value your trade to get more money down on your loan or lease.
Finance Your New Subaru with a Loan or Lease at CMA’s Colonial Subaru in South Chesterfield, VA
Our friendly finance team is here to help you choose between leasing vs. buying. If you have questions, we invite you to chat with us on our website, give us a call at 804-877-9995, or visit our Subaru store in South Chesterfield, VA.