Leasing vs Buying

New Car Leasing vs Buying

Why Should You Lease a New Car?

If you prefer to drive newer, safer, more reliable vehicles, but not commit to a large down payment every few years, and also do not travel an enormous amount yearly, then a new car lease may be better for you. Leasing is designed for people who prefer to escape the hassle of selling and buying each time they want to drive a new car, truck, or SUV.

Why Buy a New Car?

Conversely, if you prefer long term automotive relationships with a higher sense of ownership and commitment, then buying could be what's ideal for you. Car-buying is typically best for consumers who do not mind driving the same car or truck for over five years or even until it's no longer fit for the street.

Buy vs Lease: Which One Is Right for You?

Being aware of the pros, cons, and overall benefits of leasing vs buying a vehicle is critical. Be sure to examine factors like vehicle ownership, monthly payments, repair costs, and potential savings when weighing the pros and cons of the best new vehicle financing type for you.

Buying: Ownership vs Leasing

When it comes to vehicle financing, new car or truck ownership absolutely comes along with many advantages, most associated with outright ownership of the car, truck or SUV. You may not be aware, but, there are also a few nice advantages to leasing, as well. It's imperative to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A careful diagnosis of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car.

leasing vs buying a new car benefits

Monthly Payments

Vehicle lease payments are often less expensive in comparison to car financing and loan payments as the typical lease deal is basically renting with the option to buy out near the end of your lease term. Remember when leasing that you are going to need a good credit score, and will be asked to carry collision and comprehensive insurance, although the same can be said for the best rate auto loans. Although it may likely add to monthly payments, it is also wise to get a model with the features you want or need, as personal satisfaction is often priceless.

why leasing a car is smart

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It's important to remember this when calculating monthly costs of leasing vs ownership. No matter what make and model you buy, mechanic bills are an unpredictable cost that can quickly add up. And for those of us who are not certified mechanics with a full toolset and hydraulic jack in the garage, leasing is likely the best option for peace of mind.

analysis of lease vs finance a car

Investment vs Savings

In general, a new car or truck lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning absolute ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for going over mileage, terminating the vehicle lease early, or putting on excessive wear and tear. For your best investment on a financed/purchased vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.

LeaseBuy
New VehiclesAvailableAvailable
Pre-Owned VehiclesNot AvailableAvailable
Vehicle CustomizationNot AvailableAvailable
Poor Credit FinancingNot AvailableAvailable
APR %Credit-BasedCredit-Based
OwnershipNo OwnershipPride of Ownership
Down PaymentSmaller Down PaymentLarger Down Payment
Monthly PaymentSmaller Monthly PaymentsLarger Monthly Payments
Savings/InvestmentShort Term SavingsLong Term Investment
Finance TermApprox. 2-4 YearsApprox. 3-6 Years
Maintenance & Repair CostsTypically IncludedNot Included

Subaru Lease and Finance Offers In Houston TX

Gillman Subaru North 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 Houston, TX. We look forward to serving you.