When shopping for a new Subaru at Lynnes Subaru in Bloomfield, NJ, one of the most important decisions you’ll face is whether to lease or buy your vehicle. Both options come with advantages and drawbacks, and the right choice depends on your financial situation, driving habits, and long-term plans.

To help you make an informed decision, this guide breaks down the pros and cons of leasing vs. financing a new Subaru.

Leasing a Subaru: Pros and Cons

Leasing allows you to drive a brand-new Subaru for a set term (typically 24-48 months) while making monthly payments based on the vehicle's depreciation. At the end of the lease, you return the car or have the option to purchase it.

Pros of Leasing a Subaru

Lower Monthly Payments – Lease payments are typically lower than financing payments because you’re only paying for the vehicle’s depreciation over the lease term, not the full purchase price.

Lower Upfront Costs – Leasing often requires little to no down payment compared to financing, making it a more affordable short-term option.

Always Drive a New Subaru – Leasing allows you to upgrade to a new Subaru every few years, keeping you in the latest model with the newest technology and safety features.

Warranty Coverage – Since lease terms typically last three years or less, most repairs are covered under the manufacturer’s warranty, reducing out-of-pocket expenses.

Flexible End-of-Lease Options – When the lease ends, you can return the car, lease a new Subaru, or purchase your current one if you love it.

Cons of Leasing a Subaru

Mileage Limits – Most leases include mileage restrictions (usually 10,000–15,000 miles per year). Exceeding this limit results in additional fees per mile.

No Ownership Equity – Since you don’t own the vehicle, you won’t build equity in it or have a trade-in value at the end of the lease.

Potential Fees – Additional charges for excessive wear and tear, early termination, or mileage overages can increase overall costs.

Modifications Not Allowed – Leased vehicles must be returned in their original condition, meaning you cannot customize or modify them.

Buying a Subaru: Pros and Cons

Financing a Subaru means taking out a loan to purchase the vehicle. Once you’ve completed all your payments, the car is yours to keep.

Pros of Buying a Subaru

Full Ownership – Once you finish paying off the loan, the Subaru is yours with no further payments.

No Mileage Restrictions – Unlike leasing, owning your car means you can drive as much as you want without penalty.

Freedom to Customize – Owners can modify, customize, or upgrade their Subaru with accessories and aftermarket parts.

Long-Term Cost Savings – While financing payments may be higher initially, owning a vehicle long-term is usually more cost-effective than leasing multiple vehicles over time.

Builds Trade-In Value – A well-maintained Subaru retains good resale value, allowing you to use it as a trade-in for your next purchase.

Cons of Buying a Subaru

Higher Monthly Payments – Because you’re financing the total cost of the vehicle, your monthly payments are higher compared to leasing.

Larger Upfront Costs – Buying often requires a larger down payment and higher upfront costs.

Out-of-Warranty Repairs – Once the manufacturer’s warranty expires, you’ll be responsible for repairs and maintenance.

Depreciation – While Subaru vehicles hold their value well, all cars depreciate over time, reducing their resale worth.

Leasing vs. Buying: Which is Right for You?

The decision between leasing and buying depends on your lifestyle, financial situation, and driving habits. Consider the following factors:

- Lease if:

- You want lower monthly payments.

- You prefer driving a new Subaru every few years.

- You drive fewer than 15,000 miles per year.

- You want minimal maintenance costs.

- Buy if:

- You plan to keep your vehicle long-term.

- You drive a lot and don’t want mileage restrictions.

- You want to build ownership equity.

- You like the ability to customize your vehicle.

Explore Your Subaru Lease and Finance Options at Lynnes Subaru

Still unsure whether leasing or buying is the best option for you? The finance experts at Lynnes Subaru in Bloomfield, NJ, can help you weigh your options, explore current lease specials, and find financing that fits your budget.

Visit our dealership or browse our inventory online to start your journey toward your next Subaru.