When shopping for a car, one of the first decisions you will have to make is whether to buy or lease your vehicle. Although there are pros and cons to each, the right decision varies from drivers depending on your driving habits and your financial situation.

What is leasing? Many compare leasing to "renting" a vehicle. According to Consumer Reports, you pay a small down payment and typically have lower monthly payments. Leases can come with mileage restrictions as well, and you must maintain the vehicle while you have it. One advantage, besides low payments, is that the future value of the car can't affect you negatively; however, you must return the vehicle at the end of the lease.

Buying is the preferred financial method for most drivers, as they get equity in the model. However, you must pay a large down payment and large monthly fees. Plus, it is more difficult to finance a car if you have bad credit or no credit at all. On the plus side, buying means you own the car as soon as you finish payments. However, if the car's value depreciates below the amount you owe on the car, you can be upside-down on your loan - a risky financial situation.

Which is right for me?

Leasing is great for those who want low monthly payments or for those that don't have a very steady income. Students, recent graduates, and part-time workers often lease vehicles in order to protect themselves financially. Leasing is also great for people who like variety - you can get a new car every few years.

Buying is great for anyone with a steady paycheck and good credit history. Obviously it would be best to buy a car outright, but most people prefer to finance their cars. If you are a safe driver and maintain your car, it can last indefinitely.

If you are somewhere in the middle and are not sure which option is the best for you, stop by Heuberger Subaru and we would be glad to help you decide!  If you know which option works best for your situation, Great!  Stop by  Heuberger  Subaru and we can help you pick out the right Subaru for your needs!  If you have questions about Financing, stop by our Finance Department to get the answers you are looking for.