Should I Buy or Lease?

Finance Paperwork with Glasses

If you’re exploring the Columbus auto-market for a brand new Subaru, you might be comparing leasing vs. buying your next vehicle. Oftentimes, many Dublin drivers will ask us, “Should I buy or lease a car?” 

At Byers Subaru Dublin, our finance experts can help you compare the leasing vs. buying process. We can even answer questions about the differences between our used vs. certified pre-owned inventory to ensure you find the vehicle you’re most interested in! Read on below to further compare leasing vs. buying at Byers Subaru Dublin! 

Leasing vs. Buying a Vehicle

So, should I buy or lease a car? When you lease a car in Upper Arlington or nearby, the concept is comparable to renting a car for a short time. Explore the pros and cons of leasing vs. buying below!! 

Leasing vs. Buying: Pros and Cons of Leasing

Pros:

  • Lower Monthly Payments: Your overall payments will be lower when you lease a car in Powell. 
  • Worry-Free Maintenance: Most of the repairs will be covered within the terms of your lease.
  • No Worries About Resale: At the end of your lease, you simply just need to return the car. 

Cons: 

  • Mileage Requirements: You will pay additional fees if you exceed the agreed-upon mileage.
  • Constant Monthly Payments: To keep the car, you must pay the monthly payments consistently while leasing. 

Leasing vs. Buying: Pros and Cons of Buying

Pros:

  • Ownership: Once the car is completely paid off, you will own the vehicle. You have the choice of whether you want to keep it, sell it, or trade it in.
  • Customize Your Vehicles: Once you own the car, you can customize it to fit your Dublin lifestyle! 
  • No Restrictions: You never have to worry about restrictions!

Cons:

  • Higher Monthly Payments: You might consider buying since payments will most likely be lower when you lease.
  • Rapid Depreciation: Your total value of your vehicle will lose about 15% to 50% in the first five years.
  • Larger Down Payment: If you’re seeking a loan from a Columbus lender, you may have to consider a large down payment to be approved.

Buy or Lease Your Next Subaru with Byers Subaru Dublin

Now that you’ve asked yourself, “Should I buy or lease a car?” We’ve given you the information to make the right decision! Explore our new and pre-owned inventory, then contact us for the next steps!

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