Subaru Lease Details in Auburn, NY
If you're new to leasing, the finance team at Fox Subaru is here to help you understand the basics and get you behind the wheel of a new Ascent, Forester, or Crosstrek. Read on to learn what it means to lease a Subaru sedan or SUV.
Leasing defined
When you lease a Subaru, your monthly payments don't go toward owning the vehicle. Instead, you're paying to borrow the vehicle for an agreed-upon span of time, and for a maximum number of miles per year. The amount you pay is mostly based on how much the vehicle is expected to depreciate (i.e., lose value) during that period.
Elements of a lease
The Fox Subaru finance team will work with you to create a lease agreement that makes sense for your budget and helps you get the vehicle you want. Expect it to include several key elements.
- Residual percentage and amount: These numbers measure your vehicle's expected depreciation and help to determine the size of your monthly payment.
- Lease term: This refers to the number of years you're agreeing to lease the vehicle for.
- Money factor: This is like an APR for a loan, except that it's designed for a leasing situation.
- Allotted miles: This is the number of miles you're allowed to drive each year. If you go over this number, you'll incur mileage overage charges.
- Disposition fee: This covers cleaning and other dealer costs after your lease ends.
Benefits of leasing
When you lease a Subaru, you can take advantage of some great benefits.
- You'll pay less per month than you would if you were purchasing the same vehicle.
- Lower payments mean you can afford to drive a higher trim level with better features.
- Because leases only last for a few years, you can continuously drive a relatively new model with the most advanced tech and features.
- You'll save money on service because your lease will be up before the warranty lapses. Regular maintenance may even be covered as part of your lease.
Ready to learn more or to lease the Subaru of your dreams? Get in touch with our team here at Fox Subaru in Auburn, NY, and we'll get you started!
Hours
- Monday 08:30 AM - 08:00 PM
- Tuesday 08:30 AM - 08:00 PM
- Wednesday 08:30 AM - 08:00 PM
- Thursday 08:30 AM - 08:00 PM
- Friday 08:30 AM - 08:00 PM
- Saturday 09:00 AM - 05:00 PM
- Sunday Family Day!
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