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2013 and earlier-Subaru Impreza Lease Questions

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  • I've just started to get the WRX bug. I've been doing a lot of looking online trying to figure out descent lease deals or what I might be looking at on the leases for the WRX's. I'm in the orlando florida area. I've seen residuals anywhere from mid 40% to high 50%. The same thing with lease factors, ranging from .001s to .003s. Does anyone have any clue what is the most accurate for my area. I just want to try to be the best informed before I really start trying to work a deal. I also want to make sure I can afford one before I get too in love. Any help is great. Thanks
  • How's this sound:

    08 STI s/BBS package
    MSRP: $37,682
    Sale Price: $35,980
    MF: 215
    Residual: 52%
    Cap Reduction: $1,000 ($2,000 drive off)
    Term: 42 month
    Payment: $543.64

    Anybody get a lower MF or Sale Price?
  • 2008 Impreza STI Lease QuestionCar_man,

    What's the residual and money factor rate for 2008 Impreza Sti
    (10k, 15k, 20k)milage per year
    (24,36,48 months) money factor and residual value.

    Thank you,
    Lee
  • passat_mxpassat_mx Posts: 32
    Hi Car_man,

    Do you have the money factor and residual for the WRX four-door sedan, manual transmission (XJO model), for 36mos, 15k miles per year? Are there any lease cash incentives? I'm in So. California.

    Thanks.
  • katmandu2katmandu2 Posts: 10
    Just saw a TV ad and the Suburu website.

    Both show an Impreza being available for $179/Month w/$978 Down.

    Is this realistic or just a TEASER Bait and Switch ad ??
  • randylfrandylf Posts: 12
    I was looking at a WRX today, and here is what they worked out for me.

    10k/yr and 42 month lease with a MF of .0016 and a residual of 60 -

    This is with 1500 down -

    The cost of the car was 25,669 sticker, and they discounted to 23,786, which came to 25,637 with tax, title, license.

    Does this sound okay? I told them I wasnt planning on keeping the car after, so they planned my residual around that, does this look right?
  • randylfrandylf Posts: 12
    Well, without the guidance of the lease prophets, I did my homework, shopped around and ended up leasing a 2008 wrx today.

    MSRP was 26,566 - It was the non premium, with a rear spoiler, s1 sports trim, auto dim mirror, and shift knob.

    I ended up doing 22,356 sale price with a 24k mile, 2 year maintenance warranty for oil changes, tire rotations, etc.

    It was a 42 month lease, w/ 1500 down, and 272/mth payments, with a residual of %59. Also,It was a 12k per mile lease.

    I think I got them pretty rock bottom on price, but would like some feedback.

    Thanks for the help everyone.
  • passat_mxpassat_mx Posts: 32
    Hi randylf,

    Congratulations on your new ride. The sale price sounds great. I'm still waiting for the numbers from car_man before deciding to pull the trigger. Would you mind sharing the money factor you got?

    Thanks.
  • randylfrandylf Posts: 12
    The money factor was .0016 and I have a 730 Fico, and im only 21 haha.

    I think I managed to get a pretty good deal, and most importantly, I love the car so thats really all that matters.
  • I agree with you. Anyone tried to see what this is all about? I am really interested in getting an impreza and this might be my chance to get one!

    Car_man,

    Could you please tell me what the current MF and residual values are for 10k and 12k for 36 months? Thanks. I am in Anaheim, CA. And is it really possible to lease an 08 impreza for $179/month(+ tax)???
  • 64221306422130 Posts: 41
    There are some great 24 mo deals on the base 4 door impreza. Does the 5 door models have the same residual % and money factor? Also are the rates as favorable for models with premiun pkg and nav?
  • dtsyvinedtsyvine Posts: 1
    Hello everyone:

    Can someone help out? I am currently leasing 2005 Subaru Impreza 4dr sedan with auto transmisison. I would like to lease another Subaru--2008 Impreza 5dr hatchback with premium package (MSRP $20,846).

    I am currently paying $200 per month. Two questions:
    1. How do I estimate the residual value for my 2005 Impreza?
    2. What is a reasonable monthly payment for the 2008 Impreza that I would like to get?

    Thanks so much.
  • budahkanbudahkan Posts: 7
    Hi, I would like to know the current (May 2008) Money Factor and Residual for the Impreza Wagon.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, gigoypotpot. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2.5i Wagon with an automatic transmission and 12,000 miles per year are .00075 and 56%, respectively. The residual value for an otherwise identical lease with 10,000 miles per year is 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi budahkan. You never mentioned how long you want to lease this car for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Impreza 2.5i Wagon with an automatic transmission and 15,000 miles per year are .00075 and 55%, respectively.

    Car_man
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  • whtcldjdwhtcldjd Posts: 1
    hi car man,

    i've never leased a car before so, i'd really appreciate your help & input. i'm still learning about leases so bear with me. i'm in southern california & looking to lease a 2008 impreza 2.5i 5-door w/ sat radio, nav, vdc & automatic transmission. i want a 3 year lease for 12,000 miles/year. the msrp is $23,212, invoice is $21,883, and i've been quoted $20,883. i think mf is .00075 and residual value is 52%. with $1200 down, i'm told it's $289/month. does this sound right? is it a good deal? how do you make the monthly payment go lower? is there a way to increase/decrease mf & residual values? thanks!
  • quadringquadring Posts: 20
    One month ago, I leased a silver 2008 Impreza WRX 4 door, manual trans, sport grille, auto dim mirror, tailpipe tips, sticker price was 25,500. I wrote a check for 979.00 (750.00 down plus first month's payment.) Payment is 229.00 per month, 24 month lease, 10K miles per year. The deal is for real.
  • azbriankazbriank Posts: 10
    Any WRX #'s for May/June??

    5sp & Auto?
  • djhalptertdjhalptert Posts: 115
    You'll have to post all the numbers. Especially the Cap Cost, any fees, tax rate. etc. Just by the MSRP, RESIDUAL, SELLING PRICE & DOWNPAYMENT, I am coming up with a monthly payment of about $234 per month. Of course that is before sales tax which you didn't specify.
  • fleasfleas Posts: 1
    So I got a sales manager to tell me that Subaru gives them extra dealer $ to get people into 24 month leases. He told me $500. They lease thriugh Chase at .0324 annual rate. Then he offered me two deals. Both were for a basic 4 dr Impreza sedan, auto, 24 months, 10,000 miles and a down payment equal to the first month payment of 199 (that includes 5% sales tax). He used a residual of 72% . Then I asked him to include the $1,500 prem pack and he quoted me 199, same terms except the residual went to 74% b/c of the package.

    Then I e-mailed another dealer and he quoted me $245 on the same deal for $165 above. Does this sound familiar to anyone?
  • Does anyone know what the current buy rate lease/MF is for an '08 Subaru Impreza WRX and WRX STI as of June? What about the residual? Also it seems as if the residual is different for different people for what appears to be the same model/trim, why is that? I'm about to go visit the local dealer soon so if anyone knows this info, it would be a great help. Thanks!
  • adrian12adrian12 Posts: 1
    I've leased a 2006 Subaru Impreza 2.5i (manual shift) and would like to "trade-up" to a Legacy (Automatic) at the same dealership. I talked to the dealership and he told me they can't do a trade, but they can give me a trade-in value (appraise the car) for my leased car and then lease me another car (meaning that they're 2 separate transactions). I've searched on the internet a bit and saw that many people don't recommend trading in a leased car because it's most likely a ripoff. I'm stressing now because I have so many questions!

    1. I read online that if I return the car then there must be early termination fee and it will be factored into my new lease, making it more expensive. They are having a promotion on leasing the Legacy, but most likely they won't give the deal to me because they'll have to pay all the extra?

    2. Is it possible that they take my car, saying that I don't have to make payments anymore, but later the leasing company bill me for the early termination fee? I'll have to make sure that there's no sudden payment popping up from somewhere else?

    I'm thinking about still going to the dealership and see what trade-in value I can get and go from there. What can I expect? What are important questions that I have to ask and look out for?

    I don't know if it helps, but this is my situation:
    My boyfriend and I have two cars, he recently got his old car back from a friend so now he has 2 cars. He's happy with the old car and doesn't need the leased Subaru anymore. His mother is willing to take the remaining of the lease (essentially just making the payments for him since Chase Auto Finance doesn't allow lease takeover) but would like a Automatic Legacy.

    I appreciate any help and if there's any info missing please ask me! Thank you for your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome whtcldjd. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The money factor and residual value that you mentioned look about right to me. Let's work up a lease payment on this car and see what we come up with. According to my calculations, if you were to lease a 2008 Subaru Impreza that has an MSRP of $23,212 and a selling price of $20,883 for 36 months using the lease program that you mentioned, its zero down, pre-tax monthly payment would be around $270.

    Since the dealer that you are working with is already using Subaru's buy rate lease money factor, the only way to get a lower monthly payment than this would be to negotiate a lower selling price, which would probably be difficult given how much below dealer invoice this car already is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi azbriank. I have seen Subaru's June lease program. You never mentioned how long you want to lease this car for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Impreza WRX Wagon with 15,000 miles per year are .00135 and 55%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I can help you out, trackwrench. You never mentioned how long you want to lease this car for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Impreza WRX Wagon with 15,000 miles per year are .00135 and 55%, respectively. The numbers for an otherwise identical lease of an '08 WRX STi Wagon are .00215 and 58%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi adrian12. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates, even if you are trying to keep things in the family so to speak by purchasing a different vehicle from the same manufacturer. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    Car_man
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  • backybacky Twin CitiesPosts: 18,738
    I got the following quote on a 2.5i wagon with AT: 36 months, $189/month and about $1700 up front, which includes sales tax (must be paid up front in my state), cap cost reduction of about $360, acquisition fee (which includes gap insurance) of about $650, first payment, and license. Does this seem like a good deal? I would prefer to pay less up front, and am especially interested if others have negotiated away the cap cost reduction and some/all of the acquisition fee. The rep also said their is a disposition fee of about $150-200. I would prefer not to pay that either. :)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello backy. You never mentioned the selling price or MSRP of the Impreza that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I am sure that either myself or another knowledgeable community member be happy to give you their opinion of this deal if you let me know what these numbers are.

    Car_man
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  • backybacky Twin CitiesPosts: 18,738
    I understand what you are saying about MSRP and selling price, but in this case those numbers (especially selling price) are not very important to me. I know the MSRP for the vehicle is about $19,300-400, depending on how much is charged for the side molding I want (that seems to vary by dealer). Because I am looking for a lease with a low payment ($200 a month or less, 36 months) and low out-of-pocket expenses, those are the numbers that are most meaningful to me. I know from research that any lease with those terms on a car that is close to $20k in MSRP would be a very good deal. I will confirm that by looking at the money factor and residual values on the car. But any other numbers are not relevant to me until/unless I get a deal within the parameters I stated. When I do, then I will pour over all the numbers for the lease. And of course, the car has to be something I would want to drive for 3 years!

    FYI I have yet to find a lease with exactly the terms I want, i.e. payments at/under $200 a month and little or no down, on a car I'd want to drive. The Impreza lease I mentioned above is far and away the best Impreza hatch/AT deal I've received from any dealer in my area, and I've only found one other deal that comes close in terms of total cash outlay, and that was for a Sportage with a MSRP of about $20k. There don't seem to be as many great lease deals out there now as there have been at times in the recent past. :(
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