Are you in the market for a new car but don’t want to commit to buying one? Leasing a car can be a great alternative, offering lower monthly payments and the opportunity to upgrade to a new car every few years. If you’re interested in leasing a Subaru, here’s what you need to know.
How Does Leasing a Subaru Work?
Leasing a Subaru is similar to leasing other cars. You essentially "rent" the car for a set period of time, usually three to four years, and make monthly payments. At the end of the lease term, you can either return the car or buy it at a predetermined price.
To be eligible to lease a Subaru, you’ll need to meet certain criteria, such as having a good credit score. You’ll also need to provide documentation, such as proof of income and insurance, and may need to make a down payment.
Benefits of Leasing a Subaru
Leasing a Subaru comes with several benefits. Perhaps the biggest advantage is lower monthly payments compared to buying a car outright. With a lease, you only pay for the portion of the car’s value that you use during the lease term.
Another benefit is the ability to upgrade to a new car every few years. This means you can always drive a new Subaru without having to worry about the depreciation that comes with owning a car long-term.
Drawbacks of Leasing a Subaru
While leasing a Subaru has many benefits, there are also some drawbacks to consider. First, you won’t own the car at the end of the lease term unless you choose to buy it. This means you won’t have any equity in the car that you can use as a trade-in or sell.
Additionally, leasing a car typically comes with mileage restrictions. If you drive more than the allotted miles, you may be charged additional fees. You may also face penalties if the car is returned with excessive wear and tear.
Lease Offers and Specials
One of the great things about leasing a Subaru is that the company often offers lease deals and specials. These can include lower monthly payments, reduced down payments, and even waived fees.
To take advantage of these offers, visit your local Subaru dealership or check the company’s website for current promotions. Keep in mind that these offers are often time-limited, so act quickly to secure the best deals.
Lease vs. Buy: Which is Right for You?
Ultimately, the decision to lease or buy a car comes down to your personal circumstances and preferences. Leasing a Subaru may be a good option if you want lower monthly payments and the ability to upgrade to a new car every few years. However, if you plan to keep the car long-term and want to build equity, buying may be the better choice.
Frequently Asked Questions
Can I negotiate a lease deal with Subaru?
Yes, it’s possible to negotiate a lease deal with Subaru. Be sure to do your research and compare offers from different dealerships to get the best deal.
What happens if I want to end my Subaru lease early?
Ending your Subaru lease early can come with hefty fees and penalties. If you’re considering ending your lease early, be sure to discuss your options with the dealership or leasing company.
Do I need to have good credit to lease a Subaru?
Having good credit can make it easier to lease a Subaru, as it can help you secure better lease terms and lower monthly payments. However, even if you have less-than-perfect credit, it’s still possible to lease a Subaru.