Should I Finance or Lease My Car?

August 2nd, 2021 by

If you’ve been thinking of getting a new Subaru, you may be wondering whether you should lease or finance at our dealership in Sandy, UT. Both have unique benefits, but it ultimately comes down to what you want out of your vehicle and your monthly payments. In this blog, we will be breaking down the differences between financing and leasing a car. Read on to learn more!

The Benefits of Leasing a New Subaru in Sandy, UT

Leasing a new Subaru vehicle, like the Subaru Outback or Subaru Crosstrek, is one of the most effective ways to keep a lower monthly payment on your vehicle near West Jordan, UT. Leases have a set length, and you pay the same amount every month. When this period ends, you can return the vehicle to our dealership or even purchase it for a discounted amount! Leasing is great for drivers who want the latest models at low prices.

By leasing a new Subaru, you’re getting to drive the vehicle during its best years and are often protected by a comprehensive warranty. You can drive a vehicle that would be out of your budget when buying new and don’t have to deal with the hassle of reselling it when you want a different model. Leasing is one of the easiest options for your next vehicle!

The Downsides of Leasing

However, there are some drawbacks to leasing. Lease agreements include mileage limits you need to follow to avoid incurring fees. You must also keep the car in excellent condition and not modify it. Some leases include early termination fees if you decide you don’t want the car before your lease period ends. Some drivers around Salt Lake City, UT, dislike leasing since they pay monthly payments but don’t own a vehicle at the end of them.

The Benefits of Financing Your New Subaru SUV or Car
Do you want fewer limitations and more freedom with your vehicle? Explore your financing options with a car loan. When you purchase a new vehicle near Draper, UT, you are free to use the vehicle as much or as little as you please. You won’t have to worry about upkeep or staying under a mileage limit. One thing many buyers love about car loans is that once your payments are finished, you have complete ownership of the vehicle.

You can also sell or trade-in your vehicle before your payments are complete without incurring fees. While your monthly payments will be higher than if you were leasing, it’s because you are paying for things the dealership would cover on a lease. The benefit of these higher payments is complete ownership at the end, something you don’t get with a lease in Sandy, UT.

The Downsides of Financing

A downside of financing a new vehicle is depreciation. New vehicles often lose value quickly, making it difficult for drivers to get their money back if they decide to sell or trade their vehicle in after a few years of ownership. This is not a problem if you want to keep the vehicle for its entire lifespan. Another downside of financing is the higher monthly payments, which may be a deterrent to some drivers around West Jordan, UT.

Visit Mark Miller Subaru South Towne to Find the Right Path to Your New Subaru

If you would like to learn more about financing or leasing a new Subaru vehicle, now is an excellent time to visit the financing center at our dealership in Sandy, UT. Our finance team professionals can help you pick out the perfect plan for your unique needs and budget. We make it easy for our customers to head home in the new Subaru sedan, hatchback, or SUV they’ve been dreaming of at a price that works for them. Get started today at Mark Miller Subaru South Towne. We look forward to working with you soon!

Posted in Finance, New Inventory