The ideal amount to spend on a new car varies greatly based on your personal preference of vehicle, annual income and expenses. However, there are a few simple steps you can take to help you proceed in narrowing down which Subaru model is suitable for your unique budget, these include: 

Creating a list of desired vehicle characteristics

This is a simple list of the features your car must have vs the 'would be great' features that you may live without. For example, a part-electric vehicle that is great on fuel might be a necessity leading you towards the new XV & Forester Hybrid models. Whilst you may be able to live without a spoiler on your ride which comes with the Subaru WRX STI vehicles.

Assess income & ongoing expenses

Determine how much of your annual income you want to allocate to your new Subaru ride, this will help you maintain a budget. Start by deducting your most pressing expenditures (groceries, rent, medical expenses, pet costs, etc.) from your earnings; you’ll then have a rough idea of your disposable income which can be allocated towards a new car.

There are a few of additional vital expenditures to consider when considering your salary and expenses, such as maintenance and repairs, insurance, and registration fees. Bear in mind that Subaru vehicles tend to incur fewer costs than mainstream automakers in the first five years of ownership. But as they age beyond this initial period Subaru’s yearly cost to maintain jumps quite a bit compared to alternative brands. The average yearly maintenance costs for a 5-year-old model is around $200 and increases for a 10-year-old model up to $500 per year. If you plan to trade in or upgrade your Subaru after several years of use this may not be an issue but if you’re looking at keeping your new vehicle for the long haul be sure to keep these extra costs in mind when planning your annual budget.

To borrow or buy outright?

You may drive your new vehicle sooner by committing to a car loan term with fixed repayments. Avoiding the need to wait months or even years to save money allowing you to purchase a more expensive vehicle without having to sacrifice important 'must-have' features. Make sure you look into the various finance products available and what kind is best for your unique situation.

It is critical to think about how much you are willing to spend on your new ride and what finance option best suits your situation before going shopping. If you have any queries or need advice please get in touch with our team of car finance experts here at Driva today. Or if you’re ready to obtain finance for your new Subaru use our online platform to get your personalised rates in less than a minute. 

Learn more: How Much To Spend On A Car - A Complete Guide

The amount of money you can borrow for a Subaru car loan is determined by your individual financial circumstances. Factors like living situation, income sources and past credit rating will be taken into consideration to calculate the maximum loan amount and estimated repayments.

One approach to adjust your maximum borrowing amount is to change the length of your loan term (e.g. from 5 years to 7 years). 

Use Driva's smart platform and local team of finance professionals to assist you to make the best financing decision possible and get a better sense of how much you might be approved for. 

Getting a loan approved and obtaining vehicle financing might take anywhere from 2 hours to 2 days, subject to the lender you choose.

You can calculate the real cost of the loan by using a comparison rate. It covers the majority of lending fees that will be charged (excluding stamp duty), so it's more accurate than examining the annual percentage rate (APR). 

When comparing Subaru finance options from Driva, the comparison rate is the most crucial statistic to examine so you can easily discern which loan will cost you the least.

Yes - Driva can facilitate commercial and consumer car loans for all types of vehicles including your next Subaru. Whether you want to buy a new XV, a used Forester, or even a different type of vehicle altogether such as a motorbike or caravan we can help!