Should You Lease or Buy a New Subaru WRX? There’s a Few Good Deals to be Had
If you are looking to buy a new 2017 WRX, Subaru has some deals through the end of October. Should you lease or buy? Now through October 31, 2016 you can get 2.9 percent APR Financing on all new 2017 WRX models. You can also lease a new 2017 WRX for $305/Month on a 36-Month Lease. Which is the best way to go for you?
If you want to purchase you WRX, for the 2.9% purchase, no down payment is required. Financing is available for well-qualified buyers only. This means you will need a very good credit rating to get it. If your credit score is low (below 700), you likely won’t qualify. Your rate will be much higher, raising your monthly payment considerably. Also the term is going to be limited which also raises your monthly payment. So if you have excellent credit, don’t want to put any money down, and you don’t mind a higher payment, purchasing is a good way to go.
If you want to lease a new 2017 WRX, Subaru offers a good lease deal. Through October 31, 2016 you can lease a new 2017 WRX for $305/Month on a 36-Month Lease. It’s only available on the standard WRX 6MT model, code HUN-01). You will need to put $1,199 due at lease signing. There’s $0 security deposit. You will also need a very good credit score to get this lease, (above 700). If it’s low, you won’t qualify.
The MSRP is $27,515 (incl. $820 destination). Your net cap cost is $27,075 (incl. $595 acq. fee). Total monthly payments equal $10,980. You can purchase the WRX at the end of the lease for $19,536. What if plan to put a lot of miles on the car? At the end of the lease, you will pay 15 cents/mile over 12,000 miles/year and a $300 disposition fee. You will also be responsible for vehicle maintenance/repairs not covered by warranty, and any excessive wear/tear.
So if you are hard on your vehicle, drive more than 12,000 miles/year, you don’t want to lease. You are better off purchasing your 2017 Subaru WRX. Unfortunately, Subaru isn’t offering any deals on the 2017 WRX STI.