Buying a used Subaru with hire purchase (HP) car finance

Subaru is a Japanese automotive manufacturer renowned for its all-wheel-drive technology, safety features, and rugged reliability.

At AutoMoney Motor Finance we can help you secure HP car finance on a used Subaru within minutes.

What’s more we can complete your deal the same day, so you can drive home with your chosen Subaru model straight away.

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

Contents

Want to know more about buying a used Subaru?

If you’re considering purchasing a used Subaru, here’s a detailed look at what you should know about its strengths and weaknesses:

Strengths of Subaru

  1. All-Wheel Drive (AWD): One of Subaru's standout features is its standard Symmetrical All-Wheel Drive system, available on most models. This provides excellent traction and stability, making Subaru vehicles ideal for a variety of road conditions and weather.
  2. Safety: Subaru has a strong reputation for safety. Many models come equipped with Subaru's EyeSight Driver Assist Technology, which includes features like adaptive cruise control, lane departure warning, and automatic emergency braking. Subaru’s often receive high safety ratings from organizations like the IIHS and NHTSA.
  3. Reliability and Durability: Subaru vehicles are known for their reliability and long-lasting durability. They are built to handle rough terrain and adverse weather, making them a popular choice for adventurous drivers and those living in areas with challenging driving conditions.
  4. Resale Value: Subaru’s generally maintain strong resale value. Their reputation for reliability and AWD capability keeps them in high demand in the used car market, which can be beneficial if you plan to sell the car in the future.
  5. Practicality: Subaru models like the Outback, Forester, and Crosstrek offer practical and spacious interiors with ample cargo space, making them ideal for families and outdoor enthusiasts. The cabin designs are often focused on utility and comfort.
  6. Performance: Subaru vehicles, particularly the WRX and STI models, offer impressive performance and handling, appealing to driving enthusiasts. The Boxer engine layout contributes to a lower centre of gravity and balanced handling.

Weaknesses of Subaru

  1. Fuel Efficiency: While Subaru's AWD system provides excellent traction and stability, it can also lead to lower fuel efficiency compared to front-wheel-drive competitors. Some models, particularly those with larger engines, may have higher fuel consumption.
  2. Interior Quality: While Subaru interiors are functional and durable, the quality of materials used can sometimes feel less premium compared to competitors. This is especially noticeable in older or lower-trim models.
  3. Infotainment Systems: Subaru has made significant improvements in its infotainment systems in recent years, but some older models may have outdated technology. Ensure the model you're considering has the features you need.
  4. Road Noise: Some Subaru models have been criticised for higher levels of road and wind noise compared to their competitors. Test driving the vehicle can help determine if this is a concern for you.
  5. Maintenance Costs: While generally reliable, certain Subaru models may have higher maintenance costs, particularly for issues related to the AWD system or Boxer engine. Ensure regular maintenance has been performed to avoid potential costly repairs.

Tips for buying a used Subaru

  • R
  • Research Specific Models: Popular models like the Subaru Outback, Forester, and Impreza each have unique characteristics. Research specific model years for any common issues or recalls to ensure you make an informed decision.
  • Check Service History: Ensure the vehicle has a comprehensive service history. Regular maintenance by authorised Subaru service centres is a good indicator of a well-cared-for car.
  • Inspect for Wear and Tear: Look for signs of wear and tear, especially on high-mileage models. Pay close attention to the condition of the interior, electronics, and suspension components.
  • Consider Certified Pre-Owned: Buying a dealership-certified pre-owned Subaru offers benefits like extended warranties and rigorous inspections, providing added peace of mind.
  • Evaluate Running Costs: Factor in potential running costs, including insurance, road tax, and fuel consumption, to ensure the car fits within your budget. Subaru’s generally have reasonable running costs, but it's important to consider maintenance expenses, especially for older models.

Overall, a used Subaru can offer a reliable, safe, and capable driving experience, particularly for those who value AWD performance and practicality. By doing thorough research and inspections, you can find a high-quality used Subaru that meets your needs and provides lasting satisfaction.

Buying a used Subaru with HP car finance

One of the ways to buy a used Subaru, if you do not have enough money to pay for it in full straight away, is to use Hire Purchase car finance (HP car finance).

This is where you ‘hire’ the Subaru from us, spreading the cost of the car over monthly payments to us. These payments contribute towards you ‘purchasing’ (buying) the Subaru from us at the end of the term of the borrowing, when you also pay a one-off “option-to-purchase” fee.

At this point you own the Subaru completely and our contract comes to an end.

The pros and cons of HP car finance

Borrowing money to buy anything comes with risks, as well as rewards.

Buying a used Subaru could be the right choice for you and an ideal solution to the practical challenges of getting about day to day. However, whilst a used car can be significantly cheaper than its brand new alternative, it still involves spending a lot of money.

When you borrow money, you need to make sure you can keep up with payments comfortably. You will have other bills to pay and necessary things to buy, so you don’t want to find that the payments on your Subaru are leaving you short of money each month.

There are also other considerations when buying a used car and below we share the pros and cons, to help you decide if applying for HP car finance is right for you.

The pros

  • Drive away in a Subaru today: with HP car finance you can get a Subaru, even if you don’t have all the money for it right now.
  • Spread the cost of owning your Subaru: cars are expensive, but are often an essential part of daily life. When you buy your Subaru with HP car finance, you can pay for it gradually over time.
  • Manage your finances: HP car finance comes with a clear payment plan. You can easily compare what your finances will look like each month by taking away the money your Subaru will cost you, alongside your other bills and costs, from your income to make sure it is affordable for you.
  • Decide how much you can afford each month: if you find the Subaru you are looking at is too expensive per month, you can look at other options, with lower monthly costs.
  • Choose a term that suits you: you can repay over 3-5 years, which will impact the monthly cost to suit your monthly finances. Borrowing for longer reduces the monthly cost, but be aware it may increase the total amount you repay.
  • Own your Subaru at the end of the term: If you keep up with your monthly payments, and can afford the “option-to-purchase” fee, you will own your Subaru at the end of the term of your agreement.

The cons

  • Delayed ownership: You won't own the car until the final payment is made. Missing payments could result in your Subaru being repossessed.
  • Depreciation: Used cars can lose value quickly. You might end up paying more than the Subaru is worth over time.
  • Higher total cost: The total amount paid, including interest and fees, will be much higher than the Subaru’s purchase price.
  • Insurance requirements: Comprehensive insurance is required, which can be more costly.
  • Credit impact: Missing payments can negatively affect your credit score, making future borrowing more difficult.
  • Repossession risk: Failure to make payments can lead to the car being repossessed, possibly leaving you with outstanding debt.

Please make sure you read and understand your hire purchase agreement, maintain your car and ensure you can afford the payments before committing.

Why get HP car finance with AutoMoney Motor Finance?

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  • Get a finance decision within minutes

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  • Complete the same day

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Ready to apply?

We hope you found the information on this page useful. If you are now ready to apply for HP car finance with us, we’d be pleased to help.

Get started with an application using our online form:

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

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