Benefits of Leases and Car Loans for Financing a New Car

Buying vs Leasing: Which Is The Best Option For You?

You have done the research, gone for a test drive and now it is time to start the auto financing process. Here at Green Subaru, we know that many drivers in the Springfield area of Illinois don't enjoy financing and we understand why. The paperwork can be tricky, crunching numbers isn't fun, and it can be hard to decide whether you want to lease or buy your next Subaru. 

To make auto financing easier for our customers we have highlighted the pros and cons of leasing and buying a new Subaru to you decide which option is right for you. No two drivers are alike and same goes for financing. So we asked our lease and loan experts at Green Subaru to outline the benefits and drawbacks of both options.

Pros Of Leasing a New Car
• New vehicle every couple of years
• The ability to drive a higher-priced, better equipped vehicle
• No end of lease hassle
• Less sales tax
• Lower repair costs under vehicle's included factory warranty

Pros Of Buying a New Car
• You can make modifications
• You will save money over the long term
• You will own the vehicle outright
• You can drive as many miles as you want
• More flexibility to sell the vehicle
• Use the car for trade in value on your next car

Cons Of Leasing a New Car
• Set amount of miles per year
• Fee for going over allotted miles
• No escape from monthly payments
• Fees for getting out of the lease early
• No special modifications
• You don't own the vehicle

Cons Of Buying a New Car
• Higher down payment
• Higher monthly payments
• Possible trade in or selling hassles when you decide to sell
• More cash tied up in your vehicle

If you still have questions about deciding which financial route is best for you, give our team a call or stop by the dealership's finance center. Green Subaru is proudly serving drivers from nearby Taylorville, Jacksonville, IL and beyond with all of their automotive needs. We are located at 3861 Wabash right here in Springfield, IL and look forward to seeing you soon!