The financial aspects of getting a new car can be highly confusing. Should you lease or should you buy? Place money down or finance the full cost? The short answer to all of these questions depends on your specific set of circumstances and what you are hoping to get out of a new Subaru.
This is why our finance team at Ocala Subaru of Hernando want to be sure that you fully understand the various pros and cons of either buying or leasing one of our brand new Subaru's so that you can make the most informed decision possible!
Pros Of Leasing A New Subaru
Leasing a new vehicle is an excellent option for someone who values driving a new Subaru every couple of years. All you have to do is sign on to a lease term, make the monthly payments, and enjoy the latest and greatest technology that Subaru has to offer. Additionally, because you are leasing the vehicle, the dealership will take care of all of the maintenance and upkeep as long as you bring the car in whenever necessary. Finally, by leasing a new Subaru, you get the advantage of trying out various cars that you may one day want to purchase for long term ownership in Inverness.
Cons Of Leasing New Subaru
The biggest complaint of some drivers who decide to lease a new Subaru is the mileage restrictions that are typically applied. Because leases are for new vehicles, the dealership wants to ensure that once the lease term is over, the car has not already racked up too many miles. Plus, if you were to go over this mileage limit set out in the lease agreement, the penalties per mile can be quite steep. So, if you are consistently a high mileage driver such as someone who often takes road trips or has a long commute to Silver Springs, leasing may not be the right option for you.
Pros Of Buying A New Subaru
Buying a new Subaru can have numerous benefits. First, because you have chosen to purchase instead of lease, you will be the outright owner of the vehicle who can do what they want with the car. Additionally, if your credit is in good shape, you could qualify for extremely low-interest financing. This means that you may not have to pay any money down and can instead pay a single low monthly rate that fits your budget until the loan term is complete. Then, when you're ready to buy a new car, you have the full ability to either sell the vehicle yourself or trade-in its remaining value to be used toward a brand new Subaru of your choice.
Cons Of Buying New Subaru
While many believe buying is the only way to go, there are some downfalls to purchasing. First, because you are the outright owner of the vehicle, you are responsible for either taking care of all the maintenance work yourself or paying a trained professional to do so for you. Many don't believe the time and extra cost of this is worth the benefits of ownership. Additionally, if you have poor credit, your interest rate on a car loan could be extremely high. This would lead to paying far more than the car is actually worth by the time the car loan is paid off.
Learn More About Our Financing at Ocala Subaru
Luckily, whether you are leaning towards buying or leasing a brand new Subaru, you simply cannot go wrong with our wide variety of cars and SUV's sure to meet any and all of your wants and needs in East Lake Weir. By carefully considering the various pros and cons of leasing versus buying a new Subaru, you will be able to make an informed decision that works best for your unique financial situation.
