Finding the perfect Subaru for your lifestyle is an exciting experience. Whether you're drawn to the versatility of the Subaru Outback or the spaciousness of the Subaru Forester, you’re on your way to a vehicle that will serve you well for many miles to come around Muncy, Montoursville, and Hughesville, Pennsylvania.
Once you've found the model that suits you best, the next question arises: should you buy or lease your new Subaru? Both options offer distinct advantages, so at Blaise Alexander Subaru Muncy, we’re here to help you understand the differences between buying and leasing. Let’s break it down in simple terms so you can make an informed choice.
Buying vs Leasing: What’s the Difference?
In essence, buying means you're purchasing the vehicle outright and taking full ownership. With buying, you make monthly payments on a loan for the car, and once it’s paid off, you own it and can keep it as long as you like.
Leasing, on the other hand, is essentially renting the vehicle for a fixed period, typically 2-4 years. While you're still making monthly payments, you're only paying for the depreciation of the car during the lease term, not the full price of the vehicle.
At the end of the lease, you return the vehicle and have the option to lease a new one. Now that we've defined both options, let's dive into the unique benefits of buying and leasing a Subaru.
Buying a Subaru: The Benefits of Ownership
When you buy a Subaru, you’re making a long-term investment. Here are some of the key advantages of choosing to buy:
Full Ownership Means Full Control
One of the biggest perks of buying your Subaru is that you own it outright. There are no restrictions on how you use your vehicle, allowing you to drive as much as you want and modify it to your liking. Once your loan is paid off, you’re free to keep the car for as long as it suits your needs.
Customize Your Subaru
Since you own your vehicle, you're free to make modifications and personalize it however you see fit. Whether you want to upgrade the wheels or add custom accessories, the choice is entirely yours.
Equity in Your Vehicle
With a purchased vehicle, each payment brings you closer to building equity in the car. Over time, your Subaru can become a valuable asset that you can trade in or sell whenever you're ready for something new. Keep in mind that if you decide to sell before your loan is paid off, you may face negative equity.
Long-Term Benefits
Buying usually involves higher monthly payments than leasing, but the key difference is that those payments are contributing to ownership. This means you’re paying off an asset that you can keep for many years to come. Plus, you may qualify for incentives such as rebates, which can lower your upfront costs.
Leasing a Subaru: Lower Payments and Flexible Options
Leasing a Subaru offers a different set of advantages, especially for those who like the idea of upgrading to a new vehicle every few years. Here’s what you should know about leasing:
Lower Monthly Payments
One of the most appealing aspects of leasing is the opportunity for lower monthly payments. Since you're essentially paying for the vehicle's depreciation rather than the full purchase price, lease payments tend to be more feasible than those for a purchase loan. This can free up your budget for other expenses or even let you afford a higher-end trim level.
Always Drive a New Subaru
Leasing allows you to drive a new Subaru every few years. At the end of your lease term, you can return your vehicle and lease the latest model with all the newest features. If having the latest technology is important to you, leasing could be a great option.
Fewer Maintenance Costs
Leased vehicles are usually under warranty for the duration of the lease term, which means you’re less likely to face unexpected repair costs. You’ll still need to follow the manufacturer’s maintenance schedule, but those are often quick and easy services during the first few years of a vehicle’s lifespan.
No Trade-In Necessary
When your lease term is over, you simply return the car to the dealership. There's no need to negotiate a trade-in or deal with selling the car privately. This can make the leasing process simple and quick.
Which Option is Right for You?
Ultimately, the decision between buying and leasing depends on your personal preferences, budget, and how you plan to use your Subaru. If you want long-term ownership and the ability to customize your vehicle, buying may be the right choice. On the other hand, if you prefer lower monthly payments and the flexibility to upgrade every few years, leasing could be the ideal option.
The finance team at Blaise Alexander Subaru Muncy is here to help you explore both options and find the best solution for your lifestyle. Stop by or contact us today to learn more about buying vs. leasing, and to find your perfect Subaru to travel in around Muncy, Montoursville, and Hughesville, PA!
| Buying | Leasing | |
| Money Down | Sizable down payment | Less money up front |
| Monthly Payment | Higher monthly payment | Lower monthly payment |
| Warranty | Driver is responsible for maintenance costs after warranty expires | Typically under warranty, so fewer maintenance costs |
| Trade-In | Negotiated trade-in value | No trade-in hassle or negotiation |
| Incentives | No loyalty incentives | Lease loyalty incentives |
| GAP Protection | Not included - will add expenses to purchase price | GAP protection included |
| Equity | Potential to earn equity, but will also incur negative equity if you sell your car before it is paid off | No chance of equity, positive or negative |
| Maintenance | Not required to maintain vehicle but you do own it, so you should keep it healthy | You're responsible for program maintenance per manufacturer's recommendation or you may be charged for excess wear and tear |
| Ownership | You own the vehicle, so you can do with it as you please | The dealership still owns the vehicle |
| Technology | Technology starts to stagnate based on what was current when you purchased the vehicle | Technology is easily upgraded when lease term is up |
| Incentives | Eligible for all dealer incentives | Eligible for all dealer incentives |
| Vehicle Price | Negotiated price of a new vehicle is the same | Negotiated price of a new vehicle is the same |
| Insurance | Insurance payments are the same | Insurance payments are the same |
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Alexander Subaru
595 Alexander Dr.
Muncy, PA 17756
- Sales: 570-669-3775
- Service: 570-669-3775
- Parts: 570-494-0836
Hours
- Monday Closed
- Tuesday 9:00 AM - 8:00 PM
- Wednesday 9:00 AM - 5:00 PM
- Thursday 9:00 AM - 8:00 PM
- Friday 9:00 AM - 8:00 PM
- Saturday 9:00 AM - 5:00 PM
- Sunday Closed
