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Subaru Leasing vs Buying Connecticut

When it comes to choosing a vehicle that combines rugged capability with long-lasting reliability, Subaru stands out from the crowd. As Buddy Blichfeldt, Sales Manager at Quality Subaru in Wallingford, CT, explains, “The beauty of the Subaru is the longevity of the car and how it’s built and the quality, the precision, everything that they do in the design and the execution and the manufacturing of it is designed to last.”

This commitment to durability translates into exceptional resale value, making Subarus an attractive option for both leasing and purchasing. “It has a strong desirability in the used car market,” Blichfeldt notes, “So what that means is the Subaru has the highest resale value of any car, you know, in its class.”

Subaru leasing vs buying Connecticut tips and guide.
Subaru offers durability and high resale value when comparing Subaru leasing vs buying in Connecticut.

Leasing: The Smart Choice for Connecticut Drivers

For many Connecticut residents, leasing a Subaru offers a compelling combination of affordability and flexibility. By only paying for the portion of the vehicle’s value you use during the lease term, you can enjoy lower monthly payments and the freedom to upgrade to a newer model every few years.

“If a vehicle has a very, very high resale value, then the manufacturer has the confidence to put a high-ending residual value, which is the ending value of the vehicle after the lease,” Blichfeldt explains. “So if a vehicle has a high-ending value, then that means while you’re driving it, you’re only paying for that small portion of the vehicle that is the depreciation.”

Hypothetical Cost Comparison: Leasing vs. Buying a Subaru Outback

To illustrate the potential savings of leasing, let’s compare the costs of leasing and buying a popular Subaru model, the Outback, over a three-year period.

Hypothetical Scenario 1: 12,000 miles per year

  • Leasing a 2024 Subaru Outback (MSRP: $28,395)
  • 36-month lease with $2,500 down payment
  • Monthly payment: $349
  • Total cost over 3 years: $14,964
  • Buying a 2024 Subaru Outback (MSRP: $28,395)
  • 60-month loan with $2,500 down payment, 4.9% APR
  • Monthly payment: $525
  • Total cost over 3 years: $21,400

In this hypothetical scenario, leasing the Outback saves you $6,436 over three years compared to buying.

Hypothetical Scenario 2: 18,000 miles per year

  • Leasing a 2024 Subaru Outback (MSRP: $28,395)
  • 36-month lease with $2,500 down payment, 18,000 miles/year
  • Monthly payment: $399
  • Total cost over 3 years: $16,964
  • Buying a 2024 Subaru Outback (MSRP: $28,395)
  • 60-month loan with $2,500 down payment, 4.9% APR
  • Monthly payment: $525
  • Total cost over 3 years: $21,400

Even with higher mileage, leasing the Outback still saves you $4,436 over three years compared to buying.

These hypothetical examples illustrate how leasing can provide significant cost savings, especially for drivers with average or lower annual mileage. However, as Blichfeldt notes, “For those people who drive even more, you can upfront buy your miles at a lower price than afterwards when, you know, if you bring your vehicle in and you go over the miles, there’s going to be a mileage, you know, charge for that.”

Ownership Pride: When Buying Makes Sense

While leasing offers compelling financial advantages, some drivers simply prefer the sense of pride and freedom that comes with owning their vehicle outright. “There are certain people that just don’t want to ever rent something or whatever. They just want to feel that pride that I own this, the day I drive off the lot,” Blichfeldt acknowledges.

For these customers, purchasing a Subaru can be the ideal choice, especially if they plan to keep the vehicle for an extended period. “Those are gonna be the customers that are the Subaru, the diehard Subaru people that literally are gonna own that car for the next 15 to 20 years,” Blichfeldt explains.

Protecting Your Investment: Leasing’s Hidden Advantages

One often-overlooked benefit of leasing is the protection it offers against unexpected events that can impact a vehicle’s value. “If, God forbid, you got into an accident in the way, you know, the society loves to sue and everything else, you’re not the owner of that vehicle,” Blichfeldt points out. “So, you know, we have people that lease cars for their kids just to protect themselves because they’re not the owner of the car.”

Additionally, leasing includes gap insurance, which covers any difference between the vehicle’s value and the remaining lease payments in the event of a total loss. “On the lease having gap insurance, you know, in it, it’s going to cover any gap. There isn’t going to be a negative equity situation,” Blichfeldt explains.

Personalized Guidance at Quality Subaru

With so many factors to consider, choosing between leasing and buying can be a complex decision. Fortunately, the team at Quality Subaru is well-equipped to guide you through the process and help you make the choice that best suits your needs and budget.

“All of the sales associates are trained to understand the benefits of leasing. And then our finance manager, when you go into his office, he has between the tools of showing you things on the computer to just sitting down and just having a conversation about it,” Blichfeldt says. “We want you to feel good about what you’re doing.”

By understanding the unique advantages of leasing and buying, and with the guidance of the knowledgeable team at Quality Subaru, you can confidently choose the ownership option that best fits your lifestyle and budget. Whether you’re seeking the affordability and flexibility of leasing or the pride of ownership that comes with buying, Quality Subaru is committed to helping you unlock the joy of driving a Subaru in Connecticut.

FAQ

Is leasing or buying a Subaru cheaper in Connecticut?

For most drivers, leasing a Subaru is typically more affordable than buying, especially if you have average or lower annual mileage. However, the best option depends on your specific driving habits and preferences.

Can I modify a leased Subaru?

No, you cannot modify a leased Subaru. Leased vehicles must be returned in their original condition at the end of the lease term.

What happens if I go over the mileage limit on a Subaru lease?

If you exceed the mileage limit on your Subaru lease, you will be charged a per-mile fee at the end of the lease term. However, you can purchase additional miles upfront at a discounted rate if you anticipate driving more than the standard mileage allowance.

Can I buy my leased Subaru at the end of the lease?

Yes, you typically have the option to purchase your leased Subaru at the end of the lease term for the predetermined residual value. This can be a great option if the vehicle’s market value is higher than the residual value.

Are there any special Subaru lease deals or incentives in Connecticut?

Yes, Subaru often offers special lease deals and incentives, such as lower interest rates or higher residual values, on certain models or trims. These incentives can make leasing even more affordable for Connecticut drivers.

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