One of the great parts of purchasing a car these days are the many different options you have when choosing how to pay for it. Leasing is one of the more popular of these choices, and it might be the best option for you, depending on your budget and the car you're looking for.

If you're wondering if leasing is the right option for your next car purchase, keep reading! Our team at Ira Subaru has covered the ins and outs of leasing your next vehicle, so our drivers in Wakefield, Reading, and Danvers can see for themselves if it's the best financing option for their budgets.

How to Lease a Car in 8 Easy Steps

     
  1. Choose a car type
  2.  
  3. Choose a car model
  4.  
  5. Take a test drive of your top picks
  6.  
  7. Compare lease deals
  8.  
  9. Strike up a deal at your Subaru Dealer
  10.  
  11. Carefully read your lease term agreements
  12.  
  13. Make a small down payment
  14.  
  15. Make monthly payments for the duration of your lease term
 

First Thing's First: What is Leasing?

Some people think of leasing a car as a long-term rental. Essentially, when you lease a vehicle, the vehicle is in your possession for a set period of time; usually one to three years. You'll make monthly payments during this time, and once the lease period is up, you have the option to buy out the vehicle, or trade it in.

Many car shoppers prefer leasing over buying because it gives some room for options. For example, it might not normally be in your budget to buy a particular vehicle; however, when you lease a vehicle, the payments are normally lower, and less of a down payment is required, if any at all.

 

More About the Leasing Process

Leasing a car is a simple process, not much different than if you were to buy it. While in the past, leasing was saved mostly for luxury vehicles, most new vehicles are available to lease, as are many certified pre-owned cars, as well.

Start by choosing your vehicle. As we've mentioned, leasing can give you a little more room for options; all you have to do is decide what you're looking for in terms of monthly payments, which is the next step.

When buying a car, you may have to put up as much as 20 percent of a down payment. That's out of many buyers' budgets, which is where leasing can help. Down payments on a lease are usually negotiable, and many times you won't have to put down anything at all!

What's Included in My Lease?

You might be wondering what you get with a lease, seeing as you'll essentially never be without a car payment. However, leasing is similar to buying in that you'll get the option of a warranty, that usually lasts as long as the lease term. So, not only are you paying less monthly, but you'll be fully covered at the same time.

You may have to look into your insurance policy, however, when it comes to having a lease. Many insurance providers require higher levels of coverage, so be sure to check your policy.

Also, many dealerships have special lease offers, which may include no down payment, or an extended number of included miles. Deals like this can lessen your already lower monthly payment.

Learn More About How to Lease a Car

If you have more questions about leasing a vehicle, contact us at Ira Subaru at any time! We proudly serve the areas of Reading, Wakefield, and Danvers, and will be happy to help you figure out the best financial solution to purchasing your next vehicle. 

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Ira Subaru

97A Andover Street
Directions Danvers, MA 01923

  • Sales: (978) 739-8850
  • Service: (978) 739-8850
  • Main : (978) 739-8855

Hours

  • Monday 9:00am-6:00pm
  • Tuesday 9:00am-6:00pm
  • Wednesday 9:00am-6:00pm
  • Thursday 9:00am-6:00pm
  • Friday 9:00am-6:00pm
  • Saturday 9:00am-6:00pm
  • Sunday Closed