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2014 Subaru Legacy Lease Questions

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  • dicaniodicanio Posts: 6

    MSRP $24,585 Selling price $22400. I managed to get the selling price to $24,100 eventually, so it slightly reduced the payment. I'm in Milford, CT. With the 2015 Legacy possibly out in August, I think I could go for that. It looks pretty sweet and has a few extra features and the MSRP is only $200 more than the outgoing model.

    Does anyone know what kind of residual the 2015 will have in August? The 2014 is dipping down to 55/54% so I was hoping it would be more like 59%. Am I way off? Although I don't mind paying extra for the 2015 improvements.

  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    @dicanio

    So with 10K per year, the residual is 55%?

    There is no way of knowing what the residual value of the new 2015 model will be in August when it is introduced. What you can be sure of is that even though the MSRP will only be $200 more, manufacturers traditionally DO NOT subsidize leases on brand new models. If you want to be the 1st kid on the block with a new toy, you're going to pay. They like to wait and see how well the new model sells (or doesn't sell) and is received by the press and the buying public before they start leasing/buying incentives.

    So on the new model, they might give you a $1500 discount off of sticker, but Subaru finance will use the same 55% residual and a money factor that equates to 4% - 5%. Your $280 ($0 Cap Cost Reduction, Registration, Plates, Conveyance Up Front) might become $350 real quick.

    Definitely shop other dealers. Make sure you shop all the dealers in Fairfield County, Milford, Perkins, Stamford... It doesn't hurt to call dealers in Westchester County, NY either (Westchester, Prestige, Smith Carnes). Use what you have as a starting point (selling price, base lease rates & residuals). Memorial day weekend is coming up and these places all want to sell cars.

    Good luck & keep us posted!

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • dicaniodicanio Posts: 6

    Thanks for your input nyccarguy. Will definitely keep you posted.

  • MichaellMichaell ColoradoPosts: 5,882

    @dicanio said: Thanks for your input nyccarguy. Will definitely keep you posted.

    I've got nothing to add here .. nyc has covered the bases nicely. Good luck!

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  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    @dicanio

    I've got a little more than a passing interest in the outcome of your lease. We're in the same market and looking for pretty much the same car. I have a lease expiring at the end of September (2011 BMW 328xi) and I'm definitely interested in leasing a Subaru for my wife's next vehicle. I'll be looking to pull the trigger around Labor Day, so a fire sale price on a leftover 2014 when the 2015s are on the lot looks tempting:)

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • roadcrazyroadcrazy Posts: 21

    Hope these figures help others shopping around. 2014 Premium. True sign and drive with 3/36 for $247.43 /month (not including MI sales tax). Here is some of the info from dealer's lease worksheet. Financial Inst JP Morgan Chase, Program Lease Loyalty, Selling Price 22,776.94, Doc Fee 200, Acquisition Fee 595, Gross Cap Cost 23,371.94, Total Rebates 1,925, Amt Applied Upfront 262.28, Total Cap Reduction 1,925, Net Cap Cost 21,446.94, MSRP 24,360, Residual .53, Residual Amount 12,910.80, Prepaid Cents/Mile .10, Rate/Money Factor .00030, Adv Payments 1, Upfront Charges 375.94, Initial Payment 2,563.22, Due on Delivery 375.94.

  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    @roadcrazy

    Thanks so much for sharing. What was the MSRP on your car? What options did you get?

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • roadcrazyroadcrazy Posts: 21

    The MSRP on the dealer's lease worksheet is 24,360. The dealer didn't have any Premium models on his lot, only Limited. He traded with another local dealer. The MSRP on that vehicle is 24,579. Options are Auto-Dimming Mirror w/Compass, All Weather Floor Mats, Rear Bumper Applique and Cargo Tray. My wife picks up the car tomorrow.

  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    Not much action on this board lately. Can you guys give me the 36 month/12K numbers on the 2014 & 2015 Legacy Sedan (Premium & Limited)? Thanks!

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • MichaellMichaell ColoradoPosts: 5,882

    @nyccarguy said: Not much action on this board lately. Can you guys give me the 36 month/12K numbers on the 2014 & 2015 Legacy Sedan (Premium & Limited)? Thanks!

    2014 Premium - 53% and .00030

    2014 Limited - 53% and .00035

    2015 Premium - 63% and .00090

    2015 Limited - 61% and .00060

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  • jirishjirish Posts: 1

    Does Subaru do a 10k lease and if so what would the residual be on the 2015 Premium and Limited?

  • kyfdxkyfdx Posts: 29,371

    @jirish said: Does Subaru do a 10k lease and if so what would the residual be on the 2015 Premium and Limited?

    10K/yr residuals are 1% higher than 12K/yr residuals.

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  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    I like that 63%/.00090 (2.16%) combination on the 2015 Premium. I'll check the car out one of these days.

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • jirishjirish Posts: 1

    Thank you very much for the info.

  • @Michaell said: 2015 Limited - 61% and .00060

    Thanks for sharing these numbers for the 2015 model Michael. I thought I was going crazy when the dealer said 63% for premium, which I thought was insanely high compared to the rest of the class like passat, accord, Mazda 6 etc.

    What's the reason for it being this high though? Is it because its a new 2015 model just launched this month? Should I wait till next month for residuals to drop? (do you even see a chance of that happening?)

    I know higher residuals mean lower monthly payments on lease, but I'm concerned because I will probably buy it at least end.

    Ive been shopping around with dealers and got the following numbers. I would love some feedback from you experts on the numbers and if it is a good deal or not?

    dealer 1: (please note the inflated money factor and insanely high residual)

    2015 Subaru Legacy 2.5i Premium MSRP - $24,738.00 Our Price - $23,757.00

    36 Months with 12k Miles/ Year $317.41 Month with 577.85 Due at Signing Residual Amount - $15,584.94 (63%) Money Factor - .00140

    **Dealer 2: (money factor and residuals seem in line with what you stated) ** 2015 Subaru Legacy 2.5i Premium

    Agreed upon price: $23200

    36mo/12k 254 plus tax = 269mo zero down 504 due at signing Lease end value= 14,485.59

    I would love some feedback, especially on Dealer 2's pricing and if it is a good deal or not. His residuals seem in line with class leaders such as Honda Accord as far as $ residuals, but I don't know what dealer 1 was sipping.

    This is in Michigan btw, if that matters.

    Thanks for this great platform for us to discuss, and thanks in advance for everybody's input and guidance on how to negotiate more if it is at all possible being a new 2015 model.

  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    @‌subbiefanatic

    Sometimes manufacturers' financing arms put different residuals on different models of the same car. In this case, the Premium has a higher residual than the Limited. Higher residuals do mean a lower lease payment. Dealer #1 is obviously marking up the money factor & has a higher selling price than Dealer #2.

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • MichaellMichaell ColoradoPosts: 5,882

    @subbiefanatic said: Thanks for this great platform for us to discuss, and thanks in advance for everybody's input and guidance on how to negotiate more if it is at all possible being a new 2015 model.

    One thing to watch out for is that dealers may choose to use a different finance company for their leases. We don't have access to those numbers - we only get the official Subaru (Chase) numbers. Different companies set different residuals and have different MF, so you may not be comparing apples to apples with dealer 1 and dealer 2.

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  • mossburghmossburgh Posts: 24

    @nyccarguy said: @‌subbiefanatic

    Sometimes manufacturers' financing arms put different residuals on different models of the same car. In this case, the Premium has a higher residual than the Limited. Higher residuals do mean a lower lease payment. Dealer #1 is obviously marking up the money factor & has a higher selling price than Dealer #

    Dealer #2 has over inflated the residual. At an MSRP of 24,738 and an end value of 14,595.42, your residual factor is .59 which is too high for this car/term. As the previous poster said residual should be .53.

  • MichaellMichaell ColoradoPosts: 5,882

    @mossburgh said: Dealer #2 has over inflated the residual. At an MSRP of 24,738 and an end value of 14,595.42, your residual factor is .59 which is too high for this car/term. As the previous poster said residual should be .53.

    Dealers cannot adjust the residual; they are fixed by the finance company.

    It could be that dealer 2 is using a different finance company other than Subaru (Chase).

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  • ps99223ps99223 Posts: 2

    Hi,

    I'm seeking "the numbers" for a 2015 Legacy-Premium lease with 12k and 15k miles/year. I'm in the state of Washington.

    I'm considering (not definite) the Moonroof option package, if that makes a difference.

    Thanks, Phil

  • MichaellMichaell ColoradoPosts: 5,882

    @ps99223 said: Hi,

    I'm seeking "the numbers" for a 2015 Legacy-Premium lease with 12k and 15k miles/year. I'm in the state of Washington.

    I'm considering (not definite) the Moonroof option package, if that makes a difference.

    Thanks, Phil

    What lease term are you looking for?

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  • ps99223ps99223 Posts: 2

    @Michaell said: What lease term are you looking for?

    DUH!! sorry…. the least expensive…I assume that's 36 or 39 months

  • MichaellMichaell ColoradoPosts: 5,882

    @ps99223 said: Hi,

    I'm seeking "the numbers" for a 2015 Legacy-Premium lease with 12k and 15k miles/year. I'm in the state of Washington. 36 or 39 months.

    I'm considering (not definite) the Moonroof option package, if that makes a difference.

    Thanks, Phil

    36/15 - 61% and .00090

    39/15 - 59% and .00125

    Add 2% for 12K

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  • stickguystickguy Posts: 14,718

    hey Michael. For a 2015 Premium, 36/36, is that still 63% and .00090?

    now I need to find the formula again. Used to have that memorized. So what would I expect on a 3/36, at those factors, on a car with MSRP of 26,500, and selling price of $24,500? Assume tax, 1st month and DMV fees separate.

    2013 Acura RDX (wife's), 2007 Volvo S40 (daughter stole that one), and 2000 Acura TL (formerly son's, now mine again)

  • stickguystickguy Posts: 14,718

    Well, I got ambitious and found the formula. If I did it right, looks like $257.87/month base, plus 7% tax = $271.64

    2013 Acura RDX (wife's), 2007 Volvo S40 (daughter stole that one), and 2000 Acura TL (formerly son's, now mine again)

  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    @stickguy

    Programs change tomorrow. So it should be interesting to see what they come out with. You like the Premium with EYESIGHT, right?

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • stickguystickguy Posts: 14,718

    well, I like the idea of eyesight, but the one I saw did not have it. Adds a decent chunk of change to the mix. From looking at the site, seems that the incentives go through 9/2, so the #s change Wednesday?

    I may call the salesguy in the morning just to have him run #s on the one I drove. Not sure if there is any other trunk money I am not accounting for. Since I can get VIP pricing, it is pretty cut and dried (2% below invoice, reduced dealer fees (maybe none?) and still get any customer cash or rebates.

    If he told me I could get it for $250/mo with 1st and DMV fees at drive off (even dropping to 10K should be plenty of miles!) I would probably treat myself to a present! Lord knows I deserve one.

    2013 Acura RDX (wife's), 2007 Volvo S40 (daughter stole that one), and 2000 Acura TL (formerly son's, now mine again)

  • kyfdxkyfdx Posts: 29,371

    @stickguy said: hey Michael. For a 2015 Premium, 36/36, is that still 63% and .00090?

    now I need to find the formula again. Used to have that memorized. So what would I expect on a 3/36, at those factors, on a car with MSRP of 26,500, and selling price of $24,500? Assume tax, 1st month and DMV fees separate.

    Yes.. .00090 MF and 63% residual is correct.

    @stickguy said: Well, I got ambitious and found the formula. If I did it right, looks like $257.87/month base, plus 7% tax = $271.64

    I get $253.88/mo, pre-tax.

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  • kyfdxkyfdx Posts: 29,371

    @stickguy said: well, I like the idea of eyesight, but the one I saw did not have it. Adds a decent chunk of change to the mix. From looking at the site, seems that the incentives go through 9/2, so the #s change Wednesday?

    I may call the salesguy in the morning just to have him run #s on the one I drove. Not sure if there is any other trunk money I am not accounting for. Since I can get VIP pricing, it is pretty cut and dried (2% below invoice, reduced dealer fees (maybe none?) and still get any customer cash or rebates.

    If he told me I could get it for $250/mo with 1st and DMV fees at drive off (even dropping to 10K should be plenty of miles!) I would probably treat myself to a present! Lord knows I deserve one.

    Yes.. numbers change on 9/3, Wednesday

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    Prices Paid, Lease Questions, SUVs

  • nyccarguynyccarguy Stamford, CTPosts: 7,692

    That's right @stickguy. I forgot you know a corporate big wig at SOA

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

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