How Does Leasing a New Subaru Work in Turnersville, NJ?
For as much as buying a new Subaru in order to finally own it in full is a great idea, leasing your next new Subaru is also a smart way of financing. When you find the right kind of lease here at our Turnersville, NJ Subaru dealership, you'll be able to spend less up front and on a monthly basis, and you'll get advantages of your particular edition's warranty coverage for the term of your lease agreement. Whether you're shopping online or visiting us from Deptford Township or Williamstown, we'll answer all your questions about leasing and we'll match you up with a great deal for your next new Subaru.
What is a Car Lease?
Simply put, a car lease is an agreement between the lessor - who owns the car - and the lessee, the person who's paying to essentially borrow the car. The amount you pay for your new Subaru lease is based on its depreciation, which is the difference between the vehicle's current value and its value at the end of the lease, along with fees and interest. Here's what your next lease agreement will include:
- How much you have to pay at the start of your lease
- The length of your lease, which is typically for two or three years
- How much the car is currently worth, and what its expected value will be at the end of its lease
- Any fees - such as damage costs or mileage overage charges - that you'll pay at the end of your lease
- The money factor or rent charge, which is similar to interest rates on a car loan
- The annual mileage you're allowed to drive before incurring overage fees
- How wear and tear is determined at the end of your lease so you'll know what you'll owe if there's significant damage or overuse
- Penalties for missed lease payments
What are the Benefits of Leasing?
When you're shopping here near Washington Township and Sicklerville, you'll find out that leasing has several advantages over buying with a car loan. These include:
- Lease payments will typically be lower than monthly loan payments.
- A lease will typically require a lower down payment than purchasing with a car loan. Some lease deals for well-qualified shoppers won't even require anything up front.
- You might be able to afford a brand-new Subaru with all the latest features here in Turnersville when leasing, while that might not be possible if you were looking to buy.
- Similarly, if you're always into the latest new Subaru models, leasing will be more cost-effective for you rather than simply buying and selling your car with each new release.
- Your Subaru will typically be covered under its warranty, helping to keep your service costs lower than if you purchased your vehicle.
- You don't need to worry about the selling or trading in the vehicle at the end of the lease.
