Bachman Subaru Blog

Leasing a Subaru is a great alternative to financing one. It not only costs you less upfront, but it also comes with a lower monthly payment, giving you more financial freedom. A lease usually lasts for 36 months, but you can extend your contract term if you want to keep driving the same vehicle a little longer. Check out this helpful guide to find out what you can do when your Subaru lease is up.

What Is a Car Lease?

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A car lease is a contract between you and a leasing company that gives you the right to use a new vehicle for a certain period of time. In exchange, you have to place a down payment and pay a specified amount every month throughout the lease term. Additionally, you’re required to comply with other conditions that the lessor has imposed. These conditions may cover things such as:

• Term of the lease.
• Annual mileage limit.
• Mileage limit for the entire lease term.
• Penalties for going over the mileage limit.
• Vehicle maintenance requirements and responsibilities.
• Rules regarding lease returns.
• Consequences of missing a lease payment.
• Charges for early lease termination.

When the lease term ends, you’re expected to return your leased vehicle to the lessor in good condition. If you like the vehicle and want to drive it for a longer time, you can either buy it or extend your lease. You may also just return the car and start a new lease on another model.

How Is a Lease Different From Financing?

If you want to get behind the wheel of a new Subaru without paying cash up front, you have two options: leasing or financing. Leasing is becoming increasingly popular among car shoppers because of its lower upfront and monthly costs. However, unlike financing, it doesn’t automatically lead to car ownership. Also, it comes with mileage restrictions, but you can opt for a high-mileage lease if you need to use your car more than the average driver. If you get an auto loan, you don’t need to pay attention to the odometer.

Besides being a more cost-effective option, leasing can also help you save money on car repairs. In most cases, a leased vehicle will have a valid factory warranty throughout the lease term, meaning you’ll be protected against any covered repairs. With financing, you’ll have to start paying for repairs out of your own pocket once your warranty expires.

Another benefit of getting a lease is that it enables you to drive a different model every few years. So, you’ll have access to the most advanced technologies and features in the automotive industry. If you finance your car purchase, you may be driving the same vehicle for a long time, unless you decide to sell it before paying off your loan.

What Are the Lease Extension Options?

Certain situations may prompt you to consider getting a Subaru lease extension. Perhaps, you want to hold on to the leased vehicle a little longer so that you’ll have more time to find the right car to buy. It may also be because your ordered vehicle is taking longer than expected to arrive, so you need an extension to stay on the road without interruption. Whatever the reason, extending a car lease with your local Subaru dealership is a quick and easy process.

Subaru allows you to get a one-time, six-month extension when your lease expires. However, your request for an extension may or may not be approved depending on your lease payment history and financial circumstances. If you qualify for a lease extension, you can return the car at any time during the six-month period without incurring any early termination charges. All you need to do to request a lease extension is to contact a Subaru dealership or send a secure message on Chase.com.

Alternatively, you can turn in your vehicle and lease a new model. Subaru offers a complimentary pre-inspection for its leased vehicles, but you must schedule the inspection at least 45 days before your turn-in date. If your car has sustained excessive wear and tear, you may be required to pay additional charges. After you’ve returned the vehicle, you can go ahead and select a new Subaru model that suits your budget and lifestyle.

Should You Consider Buying Out a Lease?

If you’ve grown to love your leased Subaru, it may be a good idea to opt for a lease buyout. This is worth your consideration if the vehicle is still in great mechanical condition or under factory warranty. In this case, you’ll have a car that can serve you well for a long time and that you can be confident won’t require major repairs for quite a while. If you’ve put significantly more miles on the vehicle than allowed, you may also want to purchase it to avoid paying the excess mileage charges.

You can buy your leased vehicle at any time during the lease term. Just contact your local Subaru dealer to get a quote for the payoff amount and send them a check and the required documents.

Why Lease a Subaru From Bachman Subaru

If you’re thinking of leasing a Subaru in or near Louisville, Kentucky, there’s no better place to go than Bachman Subaru. Our dealership has one of the largest inventories of Subaru vehicles in the Louisville area, allowing us to cater to the unique needs of all kinds of drivers. Whether you’re looking for a small car, family-friendly SUV, performance car, or adventure-ready vehicle, you’ll find your perfect match in our showroom.

Furthermore, Bachman Subaru also offers attractive lease deals to help you save money. Regardless of which model you choose, you can rest assured you’ll get a tough-to-beat lease rate. Additionally, we have a dedicated team of auto finance experts who will guide you through the leasing process every step of the way. We’ll also work closely with you to find a leasing plan that fits you perfectly. If you’re already leasing a Subaru with us and want to extend your lease, we can help you with that as well.

Come to Bachman Subaru for the ultimate Subaru leasing experience. Don’t hesitate to contact us if you have any questions.