Subaru Financing

If you're planning to buy or lease a Subaru, consider what Subaru Motors Finance has to offer (SMF). Subaru's financing options vary based on where you live, your credit score, and the model you want to buy. You can fill out the application online so that you'll be ready when you go to the dealership.

Subaru financing options

Buying a Subaru

Subaru Motors Finance is a program run by JPMorgan Chase Bank that helps Subaru buyers get car loans through Subaru dealers. Subaru Motors Finance offers loans with rates starting at 2.9% APR and loan terms ranging from 36 to 72 months, depending on your credit score.

Before applying online, you must choose the model and trim level you want. This is because financing decisions are based on the vehicle you choose. Still, the dealer can help you get financing for a different car if you change your mind later.

Leasing a Subaru

Subaru Motors Finance also lets you lease a new car if you want a lower monthly payment than what you could get if you financed the purchase. There are many lease terms from 24 to 48 months and no security deposit. The choices for annual mileage are 10,000,12,000 and 15,000. If you choose a higher mileage option, your monthly payment will be higher. If you are planning to drive more than 12,000 miles annually, you can buy extra miles for $0.15 each.

At the time of signing, the first month's payment is due. You could turn in your leased Subaru, trade it in, or buy it at the end of the lease. There is a $50 lease-end purchase fee if you buy the car and a $300 disposition fee if you give it back. Leasing might or might not be the best deal for you. And it depends on how long you plan to keep the Subaru and drive each year.

Subaru financing offers and rebates

Subaru tries to sell cars by offering low financing rates and rebates. Deals change throughout the year, and most special financing offers only last about 30 days. Even if the incentives don't seem appealing, you can still apply for a Subaru loan.

Neither Subaru Motors Finance nor Chase Bank has specified the required credit score, but the best deals are only given to people who are "well-qualified." Usually, this means you'll need a good credit history. Ideally, you'll be able to show that you've paid a car loan on time.

Most of the time, a credit score of 740 is considered good for loan approval. After you get approved for Subaru financing, the dealer will set your final monthly payment, including taxes, registration, licensing, and any dealer fees. Subaru has financing deals that are only available for a limited time, and it also has many special programs for buyers who qualify.

Subaru Vehicle Assistance Program: People in Florida affected by Hurricane Ian or the flooding that followed can get up to $500 toward buying or leasing a 2022 or 2023 Subaru vehicle to replace one damaged by the storm.

Military Discount Program: Offers a $500 discount off the final price to current and reserve members of the United States Air Force, Marine Corps, Army, National Guard, and Coast Guard. You can also qualify if you are a veteran or a retiree of less than a year.

College Graduate Program: Recent and upcoming college graduates can apply through SMF to finance or lease a new Subaru and are instantly eligible for any special incentives.

Certified Pre-owned vehicles: Certified pre-owned cars are used cars from the last three model years that meet high standards and can often be financed at special rates.

Lease Loyalty: If you already lease a car through SMF, Subaru will pay up to $500 of the first month's payment on your next lease and will not charge you a fee for turning in the car.

Subaru Mobility Assist: This program reimburses Subaru owners with disabilities up to $1,000 to help them make changes to their cars to make them more accessible for their medically-verified physical disabilities. To qualify, changes must be made to the car within a year of when it was bought, and the claim must be sent in within 180 days of the change.

Subaru Guaranteed Trade-In Program: Guarantees the trade-in value of a Subaru car if you sell it to a Subaru dealer within eight years of buying it.

Pros and cons of Subaru financing

Best Subaru lease deals

How to apply for Subaru financing

The application for Subaru Motors Finance can be filled out online. Before you get started, you better have the following details sorted.

Details about the car: To start the process, you must choose a car. Once you confirm a model, the information will automatically fill in.

Trade-in: Information on the year, make, model, and mileage of any cars you want to trade in. The amount you get for the trade-in will be set by the dealer.

Loan terms: Choose how much you want to borrow and how long you want to borrow it for. If you're leasing, you'll also need to decide how many miles you'll drive each year.

Personal information: You will have to fill in your name, Social Security number, your date of birth, address, phone number, and email address. You'll also need to list your employment history and current annual income, as well as any co-applicants. You may be asked to upload images of your pay stubs or utility bills to prove that you work, live, and make money.

If you apply during normal business hours, Subaru will usually tell you whether or not you got the job within an hour. You'll receive an email with a reference code and a link to check the status of your application online. If your application's status is "Pending," it means that it is still being looked over, and you may be asked for more information. When your application is approved, print it out and take it to the dealer to finish your purchase. You'll also need an ID, the car you're trading in, and, if any, a down payment.

Subaru financing - Comparison