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2013 and earlier-Subaru Legacy Lease Questions

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  • Just to add some more info, the dealer quoted $446.61 monthly payment on a 3 yr lease 12K miles/year and no down payment other than 1st month payment.

    It appears they are using a .003 MF and 49% residual..are those the right values?

    Thanks
  • This is my first ever "attempt" at leasing a car. The dealer is in San Antonio, Tx.

    2007 Legacy 2.5i special edition MSRP $22,420 42 months @ $293.58 for 42 months $2,200 down residual $11,658.40. I don't remember the exact selling price it is around #20,4xx. The advertised price is $20,999. The interest factor is .00260 & residual rate is 52%. Is this a fair price or should I walk? Thank you
  • I just leased a Legacy Special Edition for $276/month with a $1,500 trade-in allowance and $500 out-of pocket. Details: 42 month 12k miles/year. Very pleased with the car and the lease terms. Includes tax, etc.
  • Thank you marks655

    Car Man please advise on my cost..marks price is better than the one I have. I am going to the dealer on Wed..can you help me? TIA
  • The lease monthly payments/down payments don't seem to fit the "you can get more car for less money per month" Some of the monthly rates I have been quoted would pay off a car in 5 or 6 years. Ford was the only one that seems to have favorable lease deals (I did not try GM)any thoughts?
  • Carman, in case the Outback is too rich for my blood, can i get the current residual and mf for the 2.5i SE wagon on either 24,36, and 42 months with 12K miles??

    Thanks again!

    ajfitz
  • Hi plevyva. I would be happy to estimate what this car's lease payment should be for you. According to my calculations, if you were to lease a 2007 Subaru Legacy GT Sedan with an MSRP of $30,303 and a selling price of $26,266 through Subaru Finance wight now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $373. I used a money factor of .00210 and a residual value of 53% to calculate this payment.

    Car_man
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  • Is the lease deal I posted in msg 64 good/bad?

    TIA
  • Hi retiredguy. Since this is your first time 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.

    You seem to have a good grasp of what information to gather about the vehicle that you want to lease. The two most important numbers to focus on are its selling price and its money factor. You were quoted around a $2,000 discount on this car. When the $750 lease cash that is currently available on it is backed out, this is a $1,250 discount. A base 2007 Legacy has a spread of around $1,150 between its full MSRP and dealer invoice price, so the price that you were quoted looks good to me. The money factor looks a little high though. The last time I saw Subaru's buy rate lease money factor and residual value for a 42 month lease of a 2007 Subaru Legacy 2.5i Special Edition Sedan they were .00210 and 49% with 15,000 miles per year.

    Car_man
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  • Here you go, ajfitz. Subaru's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Legacy 2.5i Sedan Special Edition with 12,000 miles per year are .00270 and 69%, respectively. The numbers for an otherwise identical 36 month lease are .00230 and 55%. Its 42 month numbers are .00210 and 51%. When negotiating your lease on this model, make sure to take the $750 lease cash that is currently available on it into account.

    Car_man
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  • jhall111jhall111 Posts: 2
    Hi Car man-

    I'm new to these forums. What a nice resource! I'm impressed with the amount of information that is available here.

    I'm looking at a leasing a 2007 Legacy Special Edition 2.5i sedan within about 3 months. I'm looking at either a 24 or 36 month lease with 12K per year. Here are the details on the specific deal I'm looking at:

    MSRP $23,430 (options are auto. transmission, armrest extension, auto dimming mirror/compass, all weather mats, and spoiler)

    My questions are:
    1. What are the current residuals for 24 and 36 months?
    2. What are the current money factors used for 24 and 36 months?
    3. What should be a reasonable negotiated discount? (I haven't yet made a visit to my salesperson.) Carsdirect.com is saying about 1,100-1,200 off of msrp for my area (western NY).
    4. Are there any lease cash or lease rebates?
    5. Do you anticipate any changes in Subaru's programs over the course of the next 3 months?

    Thanks for your help with these questions.
    Joe
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome Joe. Thanks. Subaru Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Subaru Legacy 2.5i Special Edition Sedan with 12,000 miles per year are .00225 and 69%, respectively. The numbers for an otherwise identical 36 month lease are .00230 and 55%, respectively. When negotiating your lease on this car, make sure to take advantage of the $750 lease cash that is currently available on it. This cash will help you to negotiate an attractive capitalized cost.

    If I was in the market for this car, I personally would shoot for a selling price that's $500 or so over dealer invoice before the subtraction of the $750 incentive, which would put you at around $250 under invoice after the cash is taken into account. Make sure to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Subaru Legacy: Prices Paid & Buying Experience".

    Subaru's current cash incentives and lease program is scheduled to run through April 2nd. Unfortunately, it is difficult to say what its new April program will be like at this point.

    Car_man
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  • nickc3nickc3 Posts: 13
    I was quoted for a Legacy Special Edition Base Model, Auto:

    36 months, 15K Miles/Per year:
    318/Month
    $680 Due at signing + Reg fees

    24 Months:
    $300/Month
    $680 Due at Signing + DMV Fees

    Dealer also stated he would extend warranty if we took 36 months.

    I'm getting this through the "VIP" program discount I get through work...

    Sounds like a fair deal?
  • nickc3nickc3 Posts: 13
    Well, I had 2 dealers fighting over my deal...I ended up getting:

    Due at signing:
    $595 Bank fee
    $90 document fee
    DMV Fees

    36 Months
    15K Miles/Year
    Leasecare Warranty

    $279/Month.

    Outrageous......I told dealer (kidding) that I would take 2 at that price!
  • liz15liz15 Posts: 24
    This is my first time leasing and I was hoping you could let me know if I have a good deal.

    2.5i Limited Sedan
    The Price I Received $24,065
    Residual Value 68%
    Money Factor - Dealer told me 5% and change
    24 Months
    Sales Tax 7%
    12,000 miles
    Lease Price with tax $337.15
    No money down, but they want me to pay $695 plus registration fee. What is the $695 for?

    What do you think?

    The dealer told me that it would cost more for me to lease at 36 months because of the program.
  • cfc247cfc247 Posts: 2
    Hi,

    I just leased an 07 Legacy special edition w/automatic for $274 with $0 down and paid about $210 for registration and fees at signing. 42months/12k miles per year.

    With tax the payment comes out to $298 I believe. The car is only about two months old. I just checked the buyout price and saw that it was $17,800. When I do the calculations, buying the car with about $3000 down would make my payment very similar to the lease. Is it worth pursuing or should I wait to the end of the lease?
  • Hi,

    I'm planning on leasing a 2007 Subaru Legacy 2.5i SE Sedan. However I'm not sure if me being unemployed (since I am a full time medical student) would affect my chances of getting a good deal on a lease. I have been in contact with Lynnes Subaru in Northern NJ and I have been told that the lease rates for the Legacy 2.5 SE and GT would be the following: $275/month sign and drive for 36 months 12K miles/yr or $179/month with $2594 due at signing for 36 months 12K miles/yr both for Tier 1 and 2 credit. I jst checked my 3-bureau credit report today and my FICO score ranges from 680-699.

    I would really appreciate it if you can give me some rough numbers as to what i would most likely qualify for considering my credit score and being a full time student.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi nickc3. I assume that VIP is Subaru's name for its supplier purchase program. If so, the fact that you are able to purchase a vehicle through it should guarantee that you are getting a good deal on this car. Still, it wouldn't be a bad idea to find out the exact MSRP and selling price that are being used to calculate the monthly payment that you were quoted. I always advise lessees to find these numbers out for any vehicle that they want. Also, make sure that the dealer that you are leasing through uses Subaru Finance's buy rate lease money factor to calculate your car's monthly payment. Its current buy rate for a 24 month lease of a 2007 Legacy Special Edition Base Sedan is .00225. The buy rate for a 36 month lease of this car is .00230.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome liz15. 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.

    What is this car's full MSRP? If you let me know I can see how much of a discount you are being given on it and give you my opinion of this deal.

    Subaru Finance charges a $595 acquisition fee on every vehicle that it leases. Individual dealers do not have the authority to waive this charge, but they do often have the ability to pad it to try to hide extra profit in deals. It looks like the dealer that you are working with is trying to mark-up Subaru's base acquisition fee by $100.

    Subaru Finance's current buy rate lease money factor for a 24 month lease of a 2007 Legacy 2.5i Limited Sedan is .00265, which is equivalent to an interest rate of around 6.36%.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi cfc247. Where did you get the $17,800 buy out price? Is it the end of term purchase option that is listed on your lease contract? If so, in order to purchase your Legacy you would have to pay this price PLUS all of your remaining lease payments, or at least the depreciation portion of them to buy your car right now. You probably will be better off waiting until the scheduled end of your current lease to decide if you want to purchase your Legacy.

    Car_man
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This discussion has been closed.