Davis Bellew Leasing a car can be a cost-effective option for those who want to drive a new car more frequently without the commitment of purchasing one. Subaru, a Japanese car manufacturer, offers several leasing plans that are tailored to fit various lifestyles and budgets. In this comprehensive guide, we will explore the benefits and drawbacks of leasing a Subaru, the specific leasing plans available, and the process of obtaining a lease.
Benefits of Leasing a Subaru
Lower Monthly Payments
One of the biggest advantages of leasing a Subaru is lower monthly payments. When you lease a car, you’re essentially paying for the depreciation of the car over a set period of time, rather than the entire cost of the car. As a result, you can enjoy a lower monthly payment than if you were to purchase a car outright.
Ability to Drive a Newer Car More Frequently
Leasing a Subaru also gives you the ability to drive a newer car more frequently. Most leases last between two to four years, meaning you can upgrade to a new model every few years without the hassle of selling or trading in your current car.
No Need to Worry About Resale Value
Another advantage of leasing a Subaru is that you don’t have to worry about the resale value of the car. Since you don’t own the car, you’re not responsible for selling it when you’re ready to upgrade. Instead, you simply return the car to the dealership and walk away.
Drawbacks of Leasing a Subaru
Mileage Limits
One of the major drawbacks of leasing a Subaru is mileage limits. Most leases come with a set number of miles you can drive each year, typically between 10,000 to 15,000. If you go over this limit, you’ll be charged an additional fee per mile.
End of Lease Penalties
Another drawback of leasing a Subaru is end of lease penalties. If the car isn’t returned in top condition, you may be charged a penalty fee. This could include anything from excessive wear and tear to going over the mileage limit.
No Ownership
Perhaps the biggest drawback of leasing a Subaru is that you don’t own the car. This means you won’t have any equity in the car and won’t be able to sell it in the future to recoup some of your costs.
Specific Subaru Leasing Plans
Subaru offers several leasing plans that cater to different lifestyles and budgets. Here are some of the most popular options:
Standard Lease
The standard lease is a straightforward leasing plan with set terms and conditions. It typically includes a set number of miles you can drive each year, and you’ll be charged a penalty fee if you exceed this limit. The standard lease also includes end of lease penalties if the car isn’t returned in top condition.
Sign & Drive Lease
The sign and drive lease is a $0 down payment lease that lets you drive off the lot with no upfront costs. This lease typically has a slightly higher monthly payment to make up for the lack of down payment.
Guaranteed Trade-In Program
The guaranteed trade-in program is a unique leasing plan that guarantees the value of your car at the end of the lease. This can be a great option for those who want to upgrade to a new model every few years without worrying about depreciation.
How to Obtain a Subaru Lease
Obtaining a Subaru lease is a straightforward process. Here’s what you need to do:
Choose Your Subaru Model
The first step is to choose the Subaru model you want to lease. Subaru offers a range of models, from the Impreza and Crosstrek to the Outback and Forester.
Research Subaru Leasing Plans
Next, research the various Subaru leasing plans available to determine which one best fits your lifestyle and budget. Be sure to read the terms and conditions carefully to understand any mileage limits or end of lease penalties.
Apply for a Lease
Once you’ve chosen your Subaru model and leasing plan, apply for a lease through the dealership. You’ll need to provide proof of income and a credit check to determine your eligibility for a lease.
Sign Your Lease Agreement
If you’re approved for a lease, you’ll need to sign a lease agreement that outlines the terms and conditions of the lease. This will include the monthly payment, the lease term, and any mileage limits or end of lease penalties.
FAQ
Is leasing a Subaru cheaper than buying one?
Leasing a Subaru can be cheaper than buying one, as you’re only paying for the depreciation of the car over the lease term. However, if you plan to keep the car for a long time, buying a car may be a better option in the long run.
Can I customize my leased Subaru?
Most dealerships will allow you to customize your leased Subaru, but be sure to check with the dealership first to see what modifications are allowed.
What happens at the end of my Subaru lease?
At the end of your Subaru lease, you can either return the car to the dealership or purchase the car outright if you wish to keep it.
Conclusion
Leasing a Subaru can be a great option for those who want to drive a new car without committing to ownership. While there are some drawbacks to leasing, such as mileage limits and end of lease penalties, the lower monthly payments and ability to drive a newer car more frequently can make it an attractive option. With several leasing plans available to fit different lifestyles and budgets, obtaining a Subaru lease is a straightforward process that can be done through your local dealership.
