You’ve decided you want a 2023 Subaru Outback to be your next vehicle thanks to its mix of off-road performance and adventure-ready features, but you don’t think buying is right for you at this time. However, you’re not sure how a Subaru lease works exactly, which is where we come in!
While many think of leasing as like a long-term car rental, there’s a bit more to it. The payments you make on a lease cover the depreciation of the car from the time you started the lease to when you’re returning it. You’re essentially covering that lost value, as well as accrued interest for Subaru helping you finance the car until you sell it back to them.
- Single-Pay Lease: best for drivers with lower credit, you pay upfront the entire cost of the lease. Doing so can often reduce the overall cost as well as the interest you pay.
- Closed-End Lease: the most common type of lease, you have a specific return date for your car. Typically, the longer you have the vehicle the lower the payments will be since most depreciation happens in the first two years. All payment costs are set in stone for these leases so there’s nothing left to chance.
- Open-End Lease: rather than a specific return date, these leases give the driver flexibility with a period of several months to return the car. These leases may require a larger payment at the end due to how different the final car value could be based on when you return it.
If you haven’t test driven the 2023 Subaru Outback yet, first stop by Lester Glenn Subaru to see our current inventory! When you’ve found the right model for you, our financial department will work with you to find the type of Subaru lease for you. Visit us today!