In 2012 I purchased Sony Vegas Pro Version 12, I'd like to upgrade what are my options? Is Version 20 my only option? Can I do something other than a monthly subscription?
I am using:
IdeaPad L340-15IWL
64-bit operating system, x64-based processor
VEGAS requires a little bit more power than what that IdeaPad offers to function smoothly... at least twice as much RAM for 1080p, 32GB recommended for 4K (with a GPU that has 8GB VRAM).
That said, subscriptions are not required, if you click on the dropdown menu where you can pick the subscription type (monthly, annual, etc), there's an option for "new license" or "upgrade" in there to buy a perpetual license. The only difference is that those licenses do not get the online services that come with the subscription model (cloud storage for your projects, project sharing, text to speech, speech to text, video transfer app to send video from your phone to vegas).
You can upgrade to V20 from Magix, you can try and find an earlier version being sold by a third party vendor, you can also buy V20 with a lifetime licence (gives 12 months of updates) or buy a monthly subscription option.
beware when buying from third party vendors that you are getting an authentic copy, there's lots of piracy out there, and you won't get any official support with your purchase if you buy one of these pirated copies. Best to just stick with the latest official release. Not only do you get better features and fewer bugs, but you know it is authentic.
Check this product page: https://www.vegascreativesoftware.com/us/vegas-edit/
Scrolling down that page you'll see what the different "purchase options" of VEGAS Pro 20 give you.
As @fr0sty said, you can Upgrade or buy a New license or get an annual or monthly subscription..