What You Can Do If Your Subaru Lease Expires During COVID-19
Many Subaru Forester, Outback, Crosstrek and other Subaru model customers will have their lease expire in the coming months. Because of the COVID-19 health crisis affecting all automakers, you have questions about how to safely handle your lease return, or should you just hold on to your vehicle?
Many cities, counties, and states have issued shelter-in-place or stay-at-home orders and you can’t leave your home. This is limiting many automobile lease companies that are allowed to stay open. The coronavirus health issue is affecting many Subaru dealer sales and service departments around the nation and many are closed. Thanks to Edmunds, they contacted Subaru of America and got this question answered.
Many Subaru dealers are still open to help you
Subaru of America told Edmunds, "We are working with lessees to extend their leases and will arrange to pick up the vehicle from their homes.” Subaru Motors Finance can be reached at 1-866-401-9743 and can answer Subaru owner’s questions.
Edmunds says if you choose to extend your Subaru vehicle lease, you will likely have to pay another full year of vehicle registration even if the extension is only for a month. Check with your state Department of Motor Vehicles on exact fees and figure this into your payment calculations.
Subaru can help to extend your lease
With Subaru willing to extend your lease or willing to pick up the vehicle from your home, you should be able to stay safe during this time. If you do need to turn in your lease and purchase a new 2020 Subaru model, Subaru of America has slashed rates and is now offering zero-percent financing on many models.
If you do need to purchase a new car, you can do this without leaving your home. You can build your car online with all the accessories, options, any protection programs you want, and get an estimated price and calculate your payment.
Once you begin this process, someone will be in touch via text or email to help with any questions you might have about your specific car purchase. Most dealers are equipped with the latest tools to send you detailed information about the potential purchase of a new 2020 Subaru Forester, Outback, Crosstrek, Ascent or other Subaru model.
I’m having trouble making my payments, what should I do?
Many Subaru customers have lost their jobs and are worried about how to make their car payments. If you are in this situation, call your lender and tell them your situation. Most financial companies, credit unions, and banks will work with you to reduce payments for a short time or give you an extension.
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Denis Flierl has invested over 30 years in the automotive industry in a variety of roles. All of his reports are archived on our Subaru page. Follow Denis on Facebook, Twitter, Instagram, Subaru Report. Check back tomorrow for more Subaru news and updates at Torque News!
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Photo credit: Crosscreek Subaru