BUYING

Who Owns It

A lot of people prefer buying because it gives you the advantage of keeping hold of your car because you'll own it outright once your payments are done. If you're financing your vehicle, you will have to meet the necessary requirements - including a certain down payment amount and timely monthly payments.

Mileage

Buying is usually a better option if you are likely to drive a high number of miles every year. When you buy your vehicle, there are no mileage restrictions.

Up-front Costs

When you're financing a vehicle, you're typically expected to pay a larger down payment than if you were leasing. The amount of the required down payment depends on the price of the vehicle you're buying, the lender, and your credit score as well as other factors.

Future Value

When you buy a vehicle, you're able to resell it in the future. However, it's worth depends on how well you maintain it. You'll usually get a higher resale value with regularly scheduled maintenance visits at a factory authorized facility.

End of Payments

After you've finished paying off what you owe, you own your vehicle. Next, the lender will send you the official title and a Lien Release as proof that the vehicle is completely paid off and all yours.


LEASING

Who Owns It

In the case of leasing, you do not own the car. You're simply paying to use the vehicle, and it's actually owned by the financial institution you're leasing it through. Your payments total the vehicle's estimated depreciation for the time you're using it, so you'll usually pay less per month with a lease. This means you could end up leasing a nicer car than if you were buying.

Mileage

Because you're only paying for your expected use of the vehicle, leases come with mileage restrictions. If you don't drive very many miles, leasing may be a good option for you, but if you go over your mileage limits, you will be expected to pay for your additional use of the vehicle.

Up-front Costs

Leasing usually requires a lower down payment than buying. The amount of the required down payment depends on the lease price of the vehicle you're interested in, the lender, and your credit score as well as other factors. Sometimes, leasing may also require a security deposit and other fees.

Future Value

Unfortunately, even if you don't use all of your available mileage, you don't get any money back at the end of your lease. If you decide to sign up for a new lease at the end of your current lease, you may benefit from loyalty incentives however.

End of Payments

Once your lease payments are done, you'll return your vehicle. Then you can sign a new lease and upgrade to a new vehicle. You also have the option of buying your leased vehicle at any time. If there are damages or wear and tear to your vehicle, you may owe money at the end of your lease. At Umansky Subaru, we're happy to help you explore your options.

Bob Wade Subaru

2941 S Main St
Directions Harrisonburg, VA 22801

  • Call or Text Sales: (540)434-3900
  • Service: (540)434-3900
  • Parts: (540)434-3900

Hours

  • Monday 8:00am - 7:00pm
  • Tuesday 8:00am - 7:00pm
  • Wednesday 8:00am - 7:00pm
  • Thursday 8:00am - 7:00pm
  • Friday 8:00am - 7:00pm
  • Saturday 9:00am - 6:00pm
  • Sunday Closed