New Car Lease vs Buy

Why Should You Lease a New Car?

If you want to drive newer, safer, more reliable cars, not commit to a big down payment every 3-4 years, and also do not drive an excessive amount annually, then a new Subaru lease might be better for you. Leasing a new Subaru Crosstrek or Outback is better for people who prefer to bypass the annoyance of selling and buying each time they want to get into a new car or truck.

Why Buy a New Car?

Contrarily, if you prefer long term relationships with a greater sense of ownership and commitment, then buying your new Subaru Legacy or Forester might be what's ideal for you. Car-buying is typically best for shoppers who won't mind driving the same car for over five years or even until the vehicle is no longer suitable for the road.

Lease vs Buy: Which One Is Right for You?

Knowing the pros, cons, and overall benefits of leasing vs buying a new Subaru model is imperative. Be sure to acknowledge factors such as repair costs, vehicle ownership, monthly payments, and potential savings when calculating the best new car financing type for you.

Leasing vs Buying: Ownership

When considering vehicle financing, new car ownership certainly comes along with many advantages, most associated with absolute ownership of your Subaru Impreza or Ascent. You may not be aware, however, there are also some nice upsides of leasing, as well. It's imperative to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A precise observation of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car.

benefits of leasing vs buying a new car

Monthly Payments

Vehicle lease payments are often less expensive than auto loan and car financing payments as the normal lease layout is more-or-less renting with the option to purchase at the end of your lease term. Remember when leasing that you will need a higher credit score, and will be asked to carry collision and comprehensive insurance, though the same can be said for the better rate auto loans. Though it could likely add to monthly payments, it is also better to select a model with the features you want or need, as personal satisfaction is often priceless.

should i lease or finance a car

Maintenance & Repair

Auto leases often include regular vehicle maintenance & repair. It is important to remember this when projecting monthly costs of leasing vs ownership. Regardless of which make and model you choose, mechanic bills are an unknown cost that can quickly add up. And for those who are not certified mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.

lease vs finance car analysis

Savings vs Investment

In general, a new car lease saves money in the short term with more affordable monthly payments, while buying gets you a long term investment, meaning outright ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For the best investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.

LeaseBuy
OwnershipNo OwnershipPride of Ownership
Down PaymentSmaller Down PaymentLarger Down Payment
Monthly PaymentSmaller Monthly PaymentsLarger Monthly Payments
Maintenance & Repair CostsTypically IncludedNot Included
Savings/InvestmentShort Term SavingsLong Term Investment
Finance TermApprox. 2-4 YearsApprox. 3-6 Years
APR %Credit-BasedCredit-Based
New VehiclesAvailableAvailable
Pre-Owned VehiclesNot AvailableAvailable
Vehicle CustomizationNot AvailableAvailable
Poor Credit FinancingNot AvailableAvailable

Subaru Lease and Finance Offers In Houston TX

Subaru of Clear Lake knows that choosing the right Subaru car and financing option is never easy. Our team of experienced Subaru lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Houston, TX. We look forward to serving you.