Leasing FAQs

Leasing
Frequently Asked Questions

Looking at Leasing a New Subaru? Have Questions? Jim Keras Subaru Can Help!

When you make the big choice to begin shopping for a great new car or SUV, particularly from Subaru, you will first-of-all be in for quite a treat, but also have to decide why leasing a new Subaru is the best choice. To help you better understand what makes a lease one of the premier choices around, get ready to work with the professionals here at Jim Keras Subaru in Memphis, TN who are ready to show you exactly why a lease can be the premier choice for you!

What is the Difference Between a New Car Lease and Loan?

A lease is a shorter term and more affordable option for shoppers who are looking for something that can be friendlier on your budget and make sure you are able to enjoy the latest and greatest new Subaru around.

How Do Leases Work and How is Your Monthly Payment Determined?

When you decide to lease a car you are essentially agreeing to a long-term rental that has strict stipulations for you to follow during your lease. Furthermore, your monthly payment is determined depreciation value, or the value of your car when brand new to the value at the end of your lease. You are only paying on that cost!

What Can I Do When My Lease Ends?

When your lease ends you have a few different options to choose from and each one has specific perks for each shopper. First of all, you can decide to lease a new Subaru from us. Secondly, you can work with our staff members to determine buying out your current lease and being able to keep driving around Bartlett and West Memphis in your current SUV. The final option is to turn in your Subaru to us and begin shopping for something from another dealership.

What is Lease Equity?

Lease equity is simply the value of your Subaru at the end of your lease if the original, agreed upon value was less than the actual value. For example, if your Subaru was determined to be $15,000 after the lease with 36,000-miles on the odometer, but you only drove 20,000-miles, and the value is $18,000, you can utilize that extra $3,000 towards your next lease or purchase!

What are Lease Termination Charges?

The added fees and charges that come from terminating your lease early.

What Are Lease Mileage Charges?

When you lease a car you agree to driving no more than the allotted miles, but if you go over your mileage limit you will need to pay for those additional miles.

Do I Need to Turn My Subaru Back into Jim Keras Subaru?

No! You can turn your Subaru into another Subaru dealership, just reach out to your local dealership to make sure they are going to be accept your lease turn-in!

Do I Need Replace the Tires Before Returning My Lease?

Yes! But only if the tires are excessively worn out because if your tires are too worn, you could be subjected to added charges.

Can I Extend My Lease?

Yes, during COVID-19 Subaru leases can be extended up to six months. But, reach out to us today if you have any questions and we can answer any further questions.

What is My Lease Buy Out?

Reach out to our staff in the finance center today and we can work with you to determine what your lease buyout could be.

How to Get Out of a Lease Early?

Reach out to our finance center and we will work with you!

Can You Refinance a Lease?

Give our finance center a call or an email and we would be happy to help you and see what we can do for you!

Come over Jim Keras Subaru today and get ready to see why a lease is a great choice for Germantown drivers like yourself. See you soon!

How Can We Help?

  1. Jim Keras Subaru

    2110 Covington Pike
    Memphis, TN 38128

    • Sales: (901) 373-2700
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  • Contact our Sales Department at: (901) 373-2700
  • Monday09:00am - 07:00pm
  • Tuesday09:00am - 07:00pm
  • Wednesday09:00am - 07:00pm
  • Thursday09:00am - 07:00pm
  • Friday09:00am - 07:00pm
  • Saturday09:00am - 06:00pm
  • SundayClosed