For whatever reason it may be, whether you're into changing your car beyond recognition, or you've found the economically advantageous way to having your car outright for as long as it lives, we fully understand.
But for everybody else, here are your advantages:
- Always in a safer, newer car
- Gap insurance is free from Subaru
- Owing nothing at lease end
- Car protected by warranty with fewer repair bills
- A lower monthly payment
- A penny saved is a penny earned; put that money to good use
- Excess miles are cheap to buy on a leased vehicle
Logic Behind Leasing
let's break it down for you:
Common Misconceptions about Leasing:
- "With a lease, I don't own anything." - Taking out a loan doesn't provide you with the title until your car is paid off: you never own it until then. A lease works similarly. The bank will keep the title unless you want to own the car, then you can just pay off the lease.
- "With a loan, I own the car at the end." - While that may be true, at the end of a five-year loan, you're left with a half-decade old vehicle that has obtained a lot of mileage. If the lease saves you $100 a month for the term of a 60-month loan, that's $6,000 that you have in your pocket instead of your car. (And that's assuming you didn't put it in stocks or in an interest-enabled account)
- "It's better to own than rent." - Unfortunately, this rule has mostly applied to the real estate market, as a home's value appreciates well, unlike a car. Most people who lease never pay for brakes or tires, for example, because they don't keep the car long enough to wear them out. If you finance your car for five years, you'll almost certainly need tires and brakes at least once, plus other repairs.
- "I can't trade the car in before lease end." - Contrary to popular belief, you can. After driving your car for 30 months, don't you think it's less expensive to get out of a 36-month lease that's almost up rather than a 60-month loan that's only half paid? Approximately 40% of people owe more on their loans than their cars are worth---not only do they not have equity, they are actually "upside down."
- "I don't want a new car every few years. I like to buy new, pay the car off, and then have the car without a payment." - Although the cost of a loan will no longer be present, you're still presented with repair bills of all sorts as the years go swiftly along. You'll be spending more in repairs to keep an older car on the road, older cars use more gas and pollute the environment more, have fewer safety features than modern cars, and are more likely to break down and leave you in a dangerous situation.
- "I drive too many miles." - Cars depreciate about $0.25 every mile driven. Yet with a lease, you can buy additional miles upfront for only $0.10. At the end, if you go over, they're only $0.15 per mile. People who put a lot of miles on financed cars usually end up owing more than they are worth - not only do you not own your car, it owns you!
- "I had a bad experience with a lease because I drove over the miles and I had to write a big check at the end." - Taking a loan out on the car instead, you'll be putting extra miles on a car whose value has substantially reduced the value of the car, as opposed to putting miles on someone else's car. At a reasonable price per mile, buying miles ahead of time saves you money!
- "I didn't like having to pay for damages in previous leasing experiences." - When you trade in a vehicle, you're paying for the damage of lack of value in trade. You don't get a bill in the mail for it, but you still pay it.
RK Subaru
If you're looking to lease a reliable, cost-effective, and highly-rated safety vehicle, give us a call today: (888) 832-8237, visit our vast inventory, or drop by our conveniently located showroom:
2629 Virginia Beach Boulevard
Virginia Beach, VA 23452
