Should I Buy or Lease a New Subaru?

If you’re debating leasing vs. buying a car in Beechhurst, you probably have questions: What are the pros and cons of each method? In general, is it better to lease or buy a car? The answer to that last question is that it depends on your financial position, needs, and what you value in your Whitestone drives. Either way you go, it’s a major decision and something you should consider carefully.

To help you decide between leasing vs. buying a new Subaru, the team at Star Subaru has put this comparison together. Our goal is to provide you with the information you need to make the decision that’s right for you—so read on below, then continue your research on our website or reach out to our team with further questions!

Leasing vs. Buying a Vehicle

Is it better to lease or buy a car? Leasing a Subaru in Flushing is similar to renting a car for a long-term contract period. During this contract period, you’ll pay a monthly lease payment to cover the cost of the lease’s depreciation. You won’t build equity as you would from outright buying the vehicle, but you’ll be paying for the ability to use a car for a specific set of months and the mileage agreed upon between you and the dealership. When the car lease is up, you can trade your vehicle in and replace one leased vehicle with a new one, buy the vehicle, or end your lease.

Benefits of Leasing a Subaru

• Lower Monthly Payments: You’ll have smaller down payments when you decide to lease a car near Flushing, versus if you choose to buy.
• Worry-Free Maintenance: Many vehicles come with a three-year lease, meaning most repairs will be covered by the manufacturer’s warranty within your lease terms.
• No Worries About Resale: When you’re done leasing, you’ll just return the car. If you do exceed the agreed mileage, or there’s some wear and tear, you might have some fees to pay.
• Get a New Car Every Few Years: You can return your car every couple of years, so you’ll get the latest vehicles and newest tech regularly.

Drawbacks of Leasing a Subaru

• Mileage Requirements: If you exceed the agreed-upon mileage, you’ll end up paying some fees.
• Constant Monthly Payments: You will have to maintain those monthly payments to keep your car and that’s going to be a constant during the time of the lease.

Benefits of Buying a Subaru

• Ownership: Once you finish paying off your car loan, you will own the car outright. If you want to sell it off or trade it in, you have the ability to do so.
• Customize Your Vehicles: Leases have rules regarding what can be done with your Subaru in Queens. When you own the car, you won’t have to deal with that.
• No Restrictions: Never worry about mileage rules, wear and tear, and other issues. Repairs and other services are entirely at your discretion.

Drawbacks of Buying a Subaru

• Higher Monthly Payments: You’re paying off the entire car’s value, and not just its depreciation—so your monthly payments will be higher.
• Rapid Depreciation: New cars can lose between 15% and 50% of their total value in the first five years. However, Subaru vehicles are known to hold their value well over time!
• Larger Down Payment: If you’re trying to get approved for a loan, you’ll have to consider making a larger down payment to be approved. This can make leasing the more accessible option.

Buy or Lease Your Next Subaru with Star Subaru

Is it better to lease or buy a car in Queens? It truly depends on your personal wants and needs! Either way, you can get a great rate with the team at Star Subaru, so give us a call at 718-819-0100 or head to our Queens Subaru dealership to tour our new or pre-owned vehicle inventory today. Be sure to ask about our new vehicle specials to save even more on a new Subaru!