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Leasing or Loan? Your Guide to Subaru Auto Finance

Your Guide to Subaru Auto Finance

There are so many ways you can get a car in this day and age, however that doesn’t mean the first option that you see will be the best way to get subaru auto finance.

subaru auto finance

You might be a bit surprised with all the options that you have, and that feeling is not limited only to people with good credit scores as people with poor credit scores have a lot of auto financing options to choose from nowadays.

Take a look at our quick guide to help you choose between two of the most common options: getting a loan or getting a car lease.

 

The Deal with Getting a Car Loan.

Typically, an auto loan is one of the most popular ways to get a car, as it is estimated that a whopping 90% of car owners have used this method to buy a car.

Therefore, it should be the best method, right? Well, that will all depend on what kind of car loan you get and what the terms of the lender are.

Here’s a quick rundown on what you should expect from getting a car loan.

Getting a Car Loan

Generally, you should know what your credit score is before you pop into a car dealership or a lender’s office.

This is because your credit score will affect a great deal of what kind of car loan you can get, and in some cases if you would be able to get a car loan at all.

Therefore, see if you can repair your credit score beforehand to be able to get the best deals possible. If you get a car loan with bad credit, you might still be faced with very high interest rates to compensate for your credit score.

However, if you have a poor credit score and don’t want to face high interest rates but you badly need a car right away, there is no need to fret.

You can still get a car loan by visiting a buy here pay here dealership. These dealerships are much more welcoming towards people with poor credit scores.

In fact, they do not charge high interest rates and will gladly approve you with a poor credit score to get a good car loan for their great second hand cars!

All you have to do is pay a visit to one of the car dealerships in your area that offers buy here pay here dealerships.

They will be more than willing to offer you their auto loan as long as you show them a few things about you.

Generally, they will want to see some of your personal details such as your contact numbers and address along with how much you earn each month.

For a traditional car loan and a buy here pay here loan, we recommend that you choose the shortest repayment term.

This will help you save more money in the long run to avoid extra fees
and interest rates that you don’t need to pay for in the shorter repayment term.

What About a Car Lease?

If you are wondering what a subaru lease is, this lease would mean that you will be leasing the car for a period of time and make small monthly payments for it.

More often than not, the monthly payments are very low because you will only be technically leasing a part of this car.

This is a good option for people who need a car ASAP, as some people who offer leases are easy to deal with.

subaru lease

However, you will not be able to keep the car once the leasing period is over. So, whatever money you paid was almost like you rented a car.

However, it is fairly easy to get approved for these types of leases. You can ask a relative or a good friend who has a good credit score to sign the lease with you.

Having a co-signer gives the person offering a lease peace of mind, because if you will not be able to pay off the lease anymore, the person who signed with you will take over the responsibility of paying it off.

Leasing can be considered a good option if you want a car temporarily and may not need it in the future. So, if you are looking to get a car in a place for just a year or two, leasing is a good option.

, you won’t be stuck with the same car for a long period of time. Additionally, many car leases include things such as insurance and warranty, so you will have an insured and safe drive.

All in all, we recommend that you get a car loan over a car lease.

A car lease may seem fun for now and you may get to drive the car that you want, but you will be spending money for a car that won’t be yours in the end.

Getting a car loan is overall the best option when it comes to your money.

Jessica James
Jessica has Worked in the Auto Finance Industry for the last 8 yrs, specializing in helping Her Clients and potential Car buyers get approved when they're dealing with Financial Difficulties on their Credit Reports.

She has helped Thousands of Customers find competitive car rates using all her industry knowledge!
Jessica James

Author: Jessica James

Jessica has Worked in the Auto Finance Industry for the last 8 yrs, specializing in helping Her Clients and potential Car buyers get approved when they're dealing with Financial Difficulties on their Credit Reports. She has helped Thousands of Customers find competitive car rates using all her industry knowledge!