If you want to drive newer, safer, more reliable cars or trucks, prefer not make a large down payment every 3-4 years, and also do not drive an exorbitant amount every year, then a new car lease might be the right choice for you. Leasing is ideal for those who prefer to avoid the annoyance of selling and buying each time they want to get into a new car, truck, or SUV.
On the other hand, if you prefer long term automotive relationships with a higher sense of commitment and ownership, then buying might be what’s best for you. Car-buying is typically best for those who do not mind driving the same car for over five years or even until it’s no longer fit for the road.
Knowing the pros, cons, and overall benefits of leasing vs buying a car, truck, or SUV is critical. Be sure to acknowledge factors such as vehicle ownership, monthly payments, repair costs, and potential savings when calculating the best new car, truck or SUV financing type for you.
When it comes to vehicle financing, new car or truck ownership certainly comes with many well-known advantages, most associated with entire ownership of the car, truck or SUV. You may not be aware, but, there are also some nice benefits of leasing, as well. It’s imperative to consider all financial aspects including monthly payments, down payment, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A precise study of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the perfect choice between leasing and buying a new car or truck.
| Lease | Buy | |
|---|---|---|
| Ownership | No Ownership | Pride of Ownership |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Maintenance & Repair Costs | Typically Included | Not Included |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| APR % | Credit-Based | Credit-Based |
| New Vehicles | Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Vehicle Customization | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
Group 1 Subaru El Paso knows that choosing the right Subaru car and financing option is never easy. Our team of experienced Subaru lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in El Paso, TX. We look forward to serving you.
