Choosing between leasing and financing can be as important as selecting the right vehicle. Making the wrong choice for your auto payment plan can be a costly mistake. The good news is that the team at Grand Subaru near Chicago, IL is here to help. Learn more about the differences between auto lease and finance deals, and then apply online to get pre-approved before visiting our dealership. If you still have questions or want to speak with an auto finance specialist, give us a call at (888) 840-3934.
Leasing Advantages
Do you want to drive a new car with the latest technology and comfort features every few years? If so, an auto lease deal from Grand Subaru may be right for you. Key advantages of leasing include:
- Typically come with lower monthly payments than finance deals because you're only paying for the portion of the car you use.
- At the end of the lease deal you can either walk away from your vehicle, finance the remaining value, or roll it into a new lease if there's equity.
- Low or zero down payment depending on the terms of the deal.
- Always drive a model covered by a manufacturer warranty.
Leasing Disadvantages
While there are several obvious advantages to leasing a car or SUV from Grand Subaru, there are also a few disadvantages to consider before signing up for two, three, or four-year lease deal.
- Payments will continue for as long as you keep leasing vehicles.
- Lease deals come with mileage limits of 10,000 to 15,000 miles depending on terms.
- You can't modify or alter your vehicle in any permanent way.
- You have to keep the vehicle in good condition or face possible penalties.
- You may have to pay early termination fees if you try to get out of your lease early.
Financing Advantages
If you want to own your car outright and enjoy watching payments dwindle to nothing, auto-financing plans are the way you should go. Important advantages of auto finance deals are as follows:
- Comes without limits on mileage.
- You can modify your car as you see fit.
- You can sell your car any time, but it's best to wait until there's equity in it.
- You own the car, without payments, at the end of the finance term.
Financing Disadvantages
Auto financing isn't completely perfect. There are a few disadvantages to think about before getting into a longerm payment plan.
- Finance deals typically require a hefty down payment.
- Your car will eventually be out of warranty if you keep it long enough.
- Financed vehicles depreciate in value as soon as you drive it off the lot.
- It can take as long as six or seven years to finish payments.
Why Buy or Lease From Grand Subaru?
Have you considered the pros and cons of leasing and financing, and are ready to make a decision? Get in touch with our team after locating your next new car or SUV in the new inventory at Grand Subaru near Chicago. Product specialists at our Subaru dealership are here to help you get into the lease or finance plan that matches your budget or lifestyle. The new Subaru sedan or SUV that you want with a payment plan you can afford is only a click away with us!
