Should You Lease or Buy your next Subaru?

So, you’re in the market for a brand-new Subaru and after a lot of research and test driving, you have finally decided on which vehicle to get. Now the only thing that’s left is asking yourself “Should I lease or buy a Subaru?” At your Local Long Island Subaru Dealer South Shore Subaru, we provide our customers with different options that fit their needs and lifestyles. Both leasing and buying have their benefits. Let’s figure out the difference between the two and which route you may consider taking.


Leasing a Subaru


By leasing a Subaru, you drive off in a brand-new vehicle without paying a large amount of money or taking out a loan. All you pay for is the depreciation that occurs over the term of your lease, other fees, and interests. Your monthly fee would depend on the length the lease term, the number of miles you’re allowed to drive each year, and down payment. One benefit of leasing is that the down payment required is usually less than how much your down payment would be if you choose to buy a new vehicle. Monthly payments are also significantly lower when you lease. These benefits alone are usually enough to encourage car buyers into leasing. Here are a few more reasons why leasing may be for you:


·       Drive a New Subaru Every Couple of Years - Being able to drive a new vehicle every three to four years means having access to the latest and greatest safety features. And if you’re just starting a family and eventually would need to upgrade from a Compact Car to an SUV then this is a great option to have.


·       Worry-Free Car Maintenance – Leased vehicles are always under warranty so you wouldn’t have to worry about your car breaking down or changing the breaks and tires since you wouldn’t be keeping the car long enough for parts to wear out. This also gives you the peace of mind of not having to worry about unforeseen expenses. Car services like Oil Changes are also covered by the manufacturer.


·       Having the Option to Buy after your Lease – If you have grown to love your Subaru (and we’re sure you most likely would), then you have the option of buying it. This eliminates the stress or hassle of shopping for a different car. You can also buy with confidence since you know its vehicle history.


·       Tax Deductions – If you are self-employed who uses your vehicle primarily for business purpose, then the IRS allows you to deduct your lease payments, typically in full. Note that the amount you can deduct depends on the amount of time you use your vehicle for personal reasons.


Buying Over Leasing


There are a lot of cases wherein buying may be a better option for you. Buying your vehicles means eventually owning it and being free from monthly car payments. That money that you don’t have to pay each month can cover other things like car maintenance or repairs if needed. Having that equity is one of the biggest reasons why most people still choose to buy their vehicles. Here are more reasons why choosing to buy may be the better choice for you:


·       No Mileage Restrictions – If you are someone who drives more than 12,000 to 15,000 miles a year then buying may be a better option. Whether you like driving cross country or prefer preserving the value of your vehicle by driving as little as you can, either way, it’s always nice to have that option.


·       Sell Anytime and Have Cash Towards Your Next Purchase – If at any time, you decide that your vehicle doesn’t match your lifestyle, then owning your vehicle allows you to sell and use the money you make towards a down payment for a new vehicle. This is one thing you can’t do with a leased Subaru.


·       Personalizing Your Subaru – One of the biggest things you can do when you buy that you can’t on a lease is install aftermarket parts like performance upgrades, wheels, body kits, change its color. Note that doing so affects the value of your Subaru and potentially voids its warranty.


Getting Your Next Vehicle at South Shore Subaru


Now that you know the benefits of both Buying and Leasing, we’re sure that you have a better idea on which option fulfills your needs and lifestyle. What are you waiting for? Head down over to your Local Long Island Subaru Dealer, South Shore Subaru to test drive your next daily driver and learn more about our latest Subaru Lease Specials. Our showroom is open to serve you seven days a week.


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