Leasing vs Financing
Getting a vehicle to explore West Bloomfield, Novi, and Farmington is easy with the options available at LaFontaine Subaru. Here, you can learn about the different benefits of leasing vs. financing to get a better idea of which option is best for you.
Read ahead to find out more about your payment options and how to get started.
You can think of leasing as long-term renting. It's also much like a long test drive. Depending on your preferred term length, you can drive several different models in one year if that's what you want.
A lease offers a lot of flexibility when it comes to term length, rates, mileage limits, and more. You also get to choose to extend your lease, return the vehicle in exchange for a different model, or even buy your lease at the end of the term.
Leasing enables you to change your vehicle as your life and circumstances change. Maybe you'll have an empty nest in the next few months and want a vehicle to accommodate your future adventure plans. On the other hand, you might be adding a new little family member and want a larger, safer model. With a lease, you'll be able to easily make these vehicle changes.
Financing is the process of taking out an auto loan for a vehicle and paying it off over a period of time. Once you pay off the loan, the automobile is all yours. This means that you'll be able to do anything you want with it.
From painting flames and wrapping it in your business logo to changing out the suspension system and installing custom upholstery, the upgrades and changes that you can make to your financed car are only limited by your imagination (and road rules).
Both leasing and financing offer attractive benefits. How do you decide which option is best for you especially when both seem like great choices?
One way to figure out which payment play will work best is by considering your values. Do you care more about unlimited mobility and freedom or are you more interested in the latest technologies and features?
Another thing to consider is your goals. Do you want to complete a cross-country road trip before you're 50 or save up for an RV for that road trip? With a lease, you might be in a better position to save up in the long term as you won't be paying for some of the maintenance and repairs that older vehicles require. On the other hand, if you want to enjoy a trip in the comfort of your own vehicle, a lease might not offer enough mileage.
Our financial specialists at LaFontaine Subaru are happy to pair West Bloomfield, Novi, and Farmington drivers with payment plans that work for them. When you're ready to get started with your next vehicle, reach out to our team.
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