Should I Lease or Buy a New Subaru?
This is a question we hear often at Subaru of Nashua, and the correct answer cannot be given without first having a consultation with one of our professional Product Specialists.
Almost all new vehicle shoppers, at one time or another, have considered the whether they should buy or lease a new vehicle. There are several factors to consider when determining if leasing is for you, but the difficult task for a first time lessee is narrowing it down to what is the primary criterion when it comes to leasing, especially since current research shows that more than 25% of all new cars leaving the dealer's lot are leased vehicles.
There are several indisputable reasons where leasing versus buying has its merits. Lower monthly payments, higher end model selection, minimal maintenance costs, latest technology, and improved safety features are all the perks that come with a new vehicle.
Many people consider leasing versus vehicle purchase to be "hassle-free." At the end of the lease there isn't a trade-in to deal with and no need to attempt to sell the vehicle in order to purchase another.
It is in your best interest to lease from a dealer versus any third-party lease company due to the availability of lower interest options from the factory. Another supporting reason is that third-party lease companies tend to inflate their costs for higher profit margins since they purchased the vehicle from the dealer to begin with (as you are doing) and also may try to entice you to consider a lease term of more than you need.
Benefits of a Lease
- You can regularly upgrade to new or different models every few years when the lease is up.
- The car will almost certainly remain under warranty, meaning you're covered in the event of a major repair.
- Depending on the specifics, a lease may come with a lower monthly payment compared to purchasing the same vehicle with typical loan terms.
- You pay lower sales tax since you aren't paying tax on the entire vehicle purchase price.
Should you decide to lease, carefully read the lease agreement, be thoroughly familiar with the terminology, and make sure you fully understand your obligations. If you know what you're looking for and can negotiate wisely, then leasing can be a good deal for you.
We hope you've found this article informative. Should you have further questions, please feel free to contact us with the form in the right hand column, or call Subaru of Nashua at (866) 854-3082.