Subaru B9 Tribeca Lease Questions

CarMan@Edmunds · August 2005

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Subaru B9 Tribeca. Thanks.

Car_man
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harvpt · September 2005

We live in NY and unlike a traditional lease, NY offers a balloon payment at the end of the term at which point you can chose to buy out the residual value or turn the car in. The tax is on the full value because this is a balloon loan.

Any pros or cons to paying the tax ($2200+) as part of the down payment versus folding it into the lease payments? If we pay it up front we avoid paying interest on the tax but by the same token it basically doubles the money down.

kyfdx · September 2005

If the balloon payment program includes GAP insurance, as do most leases, then rolling the tax payment into the lease gives you some protection, in case the car is stolen or totaled shortly after acquisition...

So, if you are trying to approximate a lease, I'd roll it in..

The vicarious liability laws that caused Subaru to stop leasing in NY have been changed.... Perhaps you could check to see if Subaru might start leasing in NY again, shortly?

regards,
kyfdx

harvpt · September 2005

Good news: Subaru resumes leasing in NY as of today September 7. We're waiting to hear from the dealer what the rates will be. We've negotiated a price of $31,956 on a 5 passenger LTD with rear bumper moldings, puddle lights, dimming mirror, cargo net, bumper cover, and crossbars. Can you give us an idea of a good money factor and residual? We're having them price it at both 36 and 48 months with $2500 down.

Thanks.

harvpt · September 2005

Just heard from the dealer. 36 month, 12K mile lease, $2500 down, $389/month payment on the car based on purchase price of $31,956. Seems high to me. I've asked for the money factor and buyout price but I haven't heard back from the dealer.

Comments?

aix · September 2005

I just wanted to let you know that 36 month/15k mile leases
June: 0.0021 money factor/ 63% residual
July/August: 0.00175 mf/61% residual ( I made my deal in August)
12K leases added 2% to the residual.
Sorry, not sure what they are this month. But the dealer should have no problem giving you the money factor and residual percentage as posted by Chase (Subaru Motor Finance). The residual is what it is, never negotiable. But some dealers may try to make some margin on the money factor (mine did not). Good luck with your deal, and let us know how it turns out....

cluelesspa · September 2005

but you can negotiate the purchase price ? so if you get that down to invoice and the residual is fixed that should give you a lower lease payment.

foxbat121 · September 2005

My dealer told me up front that SOA does not allow dealer markups on SOA leases. Residual is based on MSRP. The final lease payment is still based on your negotiated purchase price.

aix · September 2005

Foxbat is right. You can only negotiate the purchase price (cap cost). FWIW regarding leasing, it's generally better to not to pay a cap reduction (down payment), from the standpoint that if your car is totaled in a wreck, the gap insurance will cover the bank's investment, but your down payment is gone...Good luck with the deal. I've had mine a week and love every minute behind the wheel...

CarMan@Edmunds · September 2005

Hi harvpt. I agree with kyfdx. If I was going to do a balloon note on this truck, I personally would roll the tax into the monthly payment as well. Good call on waiting to see if Subaru was going to resume leasing in New York. You saved yourself some money in taxes by waiting. Let's take a look at this current lease program for the vehicle that you are interested in. According to the latest information that I have seen, if you were to lease a 2006 Subaru B9 Tribeca 5 Passenger LTD through Subaru's captive finance company right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00155 and 60%, respectively. The numbers for an otherwise identical 48 month lease should be .00185 and 48%.

I noticed that you are considering making a large down payment on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Tribeca would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all.

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fsufan · October 2005

Car_man, what are the october residuals & money factor on the above vehicle for a 36 month- 12k and 15k per lease. It seems as if they are advertising a $299 per 36 month lease special, and am trying to get to the numbers that make up the payment. Thanks.

gusbuf · October 2005

I am also interested to find out the money factor and residual values for October Subaru B9 Tribeca 5 passenger limited models. I have a couple quotes coming from local dealers and would like some info to see how good a deal I am being offered.

Thanx!

gusbuf · October 2005

I found out the money factor and residual rate for leasing a 2006 Tribeca in October, 2006. The residual rate is 60%, and the money factor is a very aggressive .0015. Seems as if Subaru is really pushing the Tribeca with aggressive lease deals. I hope this helps everyone.

CarMan@Edmunds · October 2005

Fsufan, if you were to lease a 2006 Subaru B9 Tribeca 5 pass LTD through its captive finance company right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00100 and 60%, respectively. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would be 1% higher.

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umybuddy · October 2005

Got a quote from a dealer in NY today for $490/months for 36months and 12K /year. $2500 state tax is rolled into the price and no money down. this vehicle is fully loaded...( Navi / DVD etc..). Just want to know if this is a good deal.

rseeger · November 2005

We test drove and got numbers on a 7 passenger Tribeca LTD with Nav and a few other small cheap options yesterday and I wanted to share my experience with everyone. The salesman knew I was an informed customer and before letting us take the car for the afternoon gave us these numbers.

Car was a little over 37K sticker
Lease terms were for 36 months and 15K per year
Price was $452 per month with $500 down to cover first month and startup. This price included tax.

We liked the car but it was not perfect for us and we decided to pass on it cause we were told this was the best possible price available and since it was the end of the month (Oct 31) it was good for one day only. We thought the $452 price was fair but not great.

We brought the car back and said no thanks and were told to talk to a manager. You know the same old game. Since I liked my salesman I agreed. After they knew we were going to walk they presented us with a new price. $414 a month with $500 down. This upset us more than anything but I wanted everyone to know that on the end of the month these cars are available for great prices.

36 month 15K per year
$414 a month including tax with $500 down including first month rent.

That is a great deal from what I have been reading but we did not take it. I was upset more than anything that they tried to take me for an extra $1300 in the first place since I bought my 3 of my last 4 cars from them.

Hope this helps everyone.

Robert

Dealer in question was Frank Gentile locatated in Racine, WI

umybuddy · November 2005

That 's a great price .....was this a 7 Pas LTD with Navigation and rear DVD package?

Did they rolled the tax into the final price and what % tax in your state?

thanks

CarMan@Edmunds · November 2005

HI Buddy. You never mentioned the selling price or MSRP of the truck 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 this truck's selling price 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 would be more than happy to give you my opinion on the lease that you were quoted if you let me know what these numbers are.

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njswamplands · November 2005

that is such an outstanding price

umybuddy · November 2005

Hi car man thanks for the reply, I got an internet quote for $36,086 for 7Pas LTD , Navigation, DVD , puddle light. I don't think any taxes are included...I also live in NY Metro area ( %8.5 tax). How can I do an estimate of how much tax/ what kinda tax I need to pay.

--Should I roll the big chunk of tax into the final price or should I pay it up front ( advantage/Disadvantage??).

Thanks

rseeger · November 2005

We picked up our new car last night. It was not in SE WI but in the
Chicagoland. I shopped hard on the internet. I got a Tribeca LTD, 7
passenger, with DVD entertainment, NAV, puddle lights, and a few other
options putting the car with a sticker a little over 39K.

Lease Terms

36 months
15K per year
$420 per month including tax (we only pay tax on payments of car in WI
not entire car like in IL)
I put $500 down and this included first payment so I really only put
down $80. This happened cause I was using numbers from another dealer
with the $500 down so stayed with that number to make it easier for me.
I was in and out of dealership in less than an hour and fifteen
minutes.

I dont care what the selling price of the car (not going to buy it at
end) was but at that price it had to put it over a $1000 under invoice.

Earlier in the day I had been quoted over $500 twice for same car at
different dealerships.

Only rub is I have to pay start up fees in WI at my local DMV. Which
are $100. Still that puts car at right around 422.50 a month including
tax for a $39K car.

Dealership is Evanston Subaru in Evanston, IL (20 miles north of
Chicago). All the sales staff were very nice to us.

jkd111 · November 2005

Hey Car_Man...i would like the RV and MF for November on a 5 pass and 5 pass LTD B9. 36 mos/12K miles. Thanks in Advance!!!

CarMan@Edmunds · November 2005

No problem umybuddy. I am not all that familiar with how sales tax is calculated on leased vehicles in your area, but you may be able to find additional information on this subject by visiting one of the following sites: New York State Department of Motor Vehicles Internet Office or New York State Department of Taxation and Finance. I personally would roll any sales tax that you have to pay into your car's lease payment. If you pay all of your truck's tax in advance and it is totaled in an accident or stolen, you don't get a refund.

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CarMan@Edmunds · November 2005

Congratulations on your new truck, rseeger. Thanks for taking the time to stop in and share the details of your deal with everyone.

Car_man
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CarMan@Edmunds · November 2005

Here's the information that you are looking for, jkd111. If you were to lease a 2006 Subaru B9 Tribeca 5-Passenger Limited without navigation through its captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00080 and 60%, respectively.

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jkd111 · November 2005

Mid-City Subaru in Chicago. The Subaru sales manager was an absolute pleasure to deal with. Great deal and no typical dealer BS! Very low pressure and extremely willing to accomodate.

Traded in a 05 Lexus RX330 for the B9. Subaru is MUCH easier to drive. Not quite as many bells and whistles, but a better driving truck. If you can turn on and wash your own headlights, not much is different from the RX. And our lease payment is almost $175 less a month!

Great truck, great lease program

kssyhc · November 2005

I live in Seattle, WA and my wife and I are interested in the Tribeca 5 passenger limited edition. At first, I thought it'd be too expensive, but then I happened across the current lease deal.

For $1999 down (~$2800 out the door after all fees and taxes), a 36mos lease (12K miles/yr) would be $300+tax. Turns out the money factor is 0.0008. Not sure about the purchase price, but based on my calculations, should be right at or below invoice.

Basically, wanted to get people's input on the following:

1. Does this seem like a good deal? I'm actually hoping to forgothe down payment and have it spread over the 36 mos. Do most dealers seem to do this?

2. If I wait until December, am I likely to get a better deal? Based on the trends, it appears the money factor is falling, but my concern is that if the residual falls as well, the lease payments may actually be higher.

Thanks in advance.

Ken, a newbie to the forum

mark625 · December 2005

This is the quote from SoCal Subaru Dealer. This is for 2006 Subaru B9 Tribeca 5 Passengar Limited Automatic, Satin White with Navigation System
The sticker price is $35,713 (which include install options: Bumper Cover, Puddle Light, Auto-Dimming Mirror/Compass. Security system shock sensor, crossbar and aero)

Lease Terms:

Term: 36
Drive Off's: $935.00
Miles Per Year: 15k
Payment: $425.00 plus tax

Term: 36
Drive Off's: $889.00
Miles Per Year: 12k
Payment: $414.00 plus tax

Can anybody tell me am I getting a good deal on lease or should I bargain more? Your comments will be appreciated.

subienewbie2 · December 2005

For what it is worth - in June I got the following deal in Chicago:
7 pass Ltd
Nav
Tow
Front & Rear Bumper covers
Puddle Lights
Dimming mirror
Shock Sensor
Winter floor mats
cargo net

Keep in mind the 7 pass ltd also includes standard rear a/c system and up-graded radio with 6 CD changer, 3rd row seat & heated front seats.

My deal was:
Zero down
36 months
12K per year
465 per month + tax on monthly payment

nochanceiv · December 2005

kssyhc,

Can you point me to that promotion? I know I saw it somewhere, but now I can't find it.

Thanks,

Chance

mark625 · December 2005

Thanks for the input Subienewbie. This is what I got from the dealer. This is the quote for 7 Passenger limited model:

2006 Subaru B9 Tribeca 7 Passenger Limited
Automatic, Titanium Metallic Silver (6HO) Model

Standard Features:
Navigation System (Touch Screen)
DVD Entertainment System (9" Screen)

Factory Added Options:
Auto Dimming Mirror Compass
Security System Upgrade
Puddle Lights
Rear Bumper Cover
Crossbar Set
Wheel Locks

Dealer Installed Options:
Front Bumper Guards
Cargo Spotlight
All weather Floor Mats (residual item "means you don't pay for this item up front")

Drive Off's: $1,000.00
Term: 48 months
Miles: 12,000 per year
Base Payment: $451.47
Tax: $34.99 (7.75%)
Payment: $486.46 (Tax included)

MSRP: $39,108.00
Selling Price: $36,191.00

So what do you think? am I getting a good deal here?

sueesponte · December 2005

We're actually looking at an '06 B9 Tribeca Limited 7 Passenger also and found the following offer on Subaru's website:

Monthly Payment: $299 plus tax.
Term: 36 months.
Mileage: 12,000/yr
Security Deposit: $0
Down Payment: $2,000
Acquisition Fee: $595

The only options on these cars seems to be the NAV and DVD, which we're not really interested in. Are these real offers? The deal almost seems to good to be true based on some of the posts in this forum. Is it? Do these cars just not exist without DVD, NAV or a combination of the two?

We actually drove one last night for the first time. Great car, the biggest negatives we saw were the smallish rear window and somewhat limited cargo space compared to the Honda Pilot. Our salesperson wasn't familiar with the pricing offer we discussed (and he basically hung around after hours to assist us), so he said he'd look into it this morning and call us. He did, saw the offer, and said they'd make it work somehow. It's the "somehow" that I wonder about.

Any thoughts? Seems like a great deal, right? Or am I missing something. Even if we don't put anything down, that would bring our payment up about $60 to $360/mo plus tax.

css1 · December 2005

Here is the offer I have before me.

7 Ltd w/puddle lights, splash guards,rear bumper cover, auto dimming mirror, cargo tray, Shock sensor, and aero cross bars.

term: 24 months
miles: 18K/yr
MF: .00135
Residual - 67%

I'm putting down - $500 - subaru CC coupons
Trade in - $2000.

$1000 rebate from subaru on 7Pass.

Sell price is at invoice.

Monthly payment with Taxes - $404.00

I'm still within the bumper to bumper warranty.

This looks good to me.

dara2 · December 2005

I have got lease deal from one of NY dealer for:
2006 Subaru B9 Tribeca Ltd. 5-Pass. 4dr SUV AWD w/Beige Int. (3.0L 6cyl 5A)
Options included:Crossbar(U6A),Auto-Dimming Mirror/compass info(K6C),Rear bumper cover(P6B),Rear cargo net(M6A)
color: green or gold or black

MSRP: I started from $32295.00 but never pay attention to it.
Invoice price: $29998.00 This is the point where you should start talk to your dealer

Term: 36 months
Miles: 15K/yr
MF: .0008
Residual - 57% (57% for 15K/yr and 60% for 12K/yr)
Down: $0
Payment: $381.00
Included: TAX NY 8.375%
Add: $595.00 bank fee + lic + registration ($235.00 with new plates or $160.00 with old one)

I can include bank fee so my payment will be $397.50 for above deal.
What do you think?

css1 · December 2005

We should try to compare apples to apples.

My list is about 35K, invoice is 32,500

Also MF's and residuals vary for each trim level.

at 15K/yr my 24 month lease is $378.00

be careful not to have your miles exceed 36K total unless you take an extended warranty which will add to your net cost.

I leased my forester for 3 years/36K but only used 21K - I therefore bought it off lease.

IMO the lease is good only if you bring it back with no more miles left to drive and no more time left to drive them.

I will pay $9696 to use the car(24 MONTHS) for 36K miles.

In the same time You will pay $9540 to use the car for up to 45K miles. But your last year will be expensive if you can't spread out your usage evenly for 3 years.
Your last year will incur additional warranty costs as well.

Tailoring the lease to your requirements may save you more money than the lease "deal" itself.

benji123 · December 2005

Hi Car man,

I'd like to get the (1) residual, (2) lease money factor, and (3) estimated monthly payment (with $0 down) for the 2006 Subaru B9 Tribeca Limited 5-Passenger with Navi, with an MSRP of $35,000 and a selling price of $34,000. I'd like the numbers both for a 36 month, 12,000 miles/year lease and for a 48 month, 12,000 miles/year lease.

Thanks!

Ben

rws0131 · December 2005

Does anyone know if there is lease cash with the 5 or 7 passenger Tribeca's and how much it would be? Thanks

css1 · December 2005

Until Jan 3rd there is a $1,000 rebate on 7 pass tribecas taken from stock. - purchase or lease.

In addition they are offering up to 500 in either Subaru bucks, or 1st lease payment if you own or are trading in a 2001 Subaru or newer. This is par of their GTP program.

The 7's are a better deal right now.

ateixeira · January 2006

Congrats, I hope your Subie serves you well.

-juice

css1 · January 2006

best of luck - enjoy it.

angrodri · January 2006

I just leased a 7 pass Ltd. w/DVD and NAV, MSRP $39k

$511 at signing
36 months
15k miles
$386/month + tax

Thanks to this forum, I was able to get a great deal. The dealer is Bill Bryan in Orlando.

BTW, love the vehicle! It's replacing a 2003 MDX that is in for its 4th A/C repair (also had to replace the drive shaft) -- I can't take Acura svc. anymore in Orlando, only 1 very busy dealer.

Cheers

kyfdx · January 2006

Congratulations!! That is a killer deal on a $39K car..

regards,
kyfdx
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subienewbie2 · January 2006

What is the capitalized cost that went on the lease and did you have a trade-in?

angrodri · January 2006

Cap cost (after $863 of the rebate was applied) was $35030. I had no trade.

ateixeira · January 2006

Sounds good, congrats on the 'beca!

-juice

CarMan@Edmunds · January 2006

Hi Ben. If you were to lease a 2006 Subaru B9 Tribeca Limited 5-Passenger with Navigation through Subaru's captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00080 and 58%, respectively. The numbers for an otherwise identical 48 month lease should be .00150 and 48%. Using these numbers, an MSRP of $35,000, and a selling price of $34,000, I estimate that this truck should have a 36 month zero down, pre-tax lease payment of around $424 and a 48 month payment of around $435.

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spence66 · January 2006

December2005-Leased an 06 Tribeca
7 pass, DVD, NAV (it was $1000 down and payment is $404.00
36 months with 15k a year)
It sounds as if I did not get the greatest deal on the lease after reading this site?

Also has anyone had problems with the black model
hairline scratches all over the body?

css1 · January 2006

Your lease was based on the special. Assuming you only paid 1000, out of pocket your payment includes tax,and there was no trade in then according to my unorthodox way of calculating :

the special is:
36 month / 12K per YR = 299/MO with 2800 due at signing plus taxes and tags.
Your lease adds 9000 miles @ 100/1000 mi. ($900), 1000 down leaves 1800 + 200 for tags. add the 900 for a total of about $3000 to be rolled into the lease -

Divide 3000 by 36 = 83

299 + 83 x Tax? should equal your monthly

Fill in your exact #'s. If I use 6% as the tax I get 404.92.

This is pretty close for an approximation.

You got a good deal-the other post with the "500" down most probably negotiated a better purchase price.

Your difference is only about $320 after total layout from what I can see.

Another factor to consider is that Invoice prices are different across the country. Regional advertising fees also affect the the selling price.

Enjoy your Tribeca.

Charlie

soylentgreen · January 2006

Hi Carman,

I got some numbers from my dealer for a basic
2006 5 passenger Tribeca with cloth interior.

36 months, $390/month, residual of 58.9% (18,724).
MSRP = $31,736. He wants 2,000 down + first month's payment. Money factor is .001.

I read somewhere that for every $1000 down it lessens the monthly payment by $50, any truth to this?

Not sure if it's better doing the lease special on the 7 passenger Limited model (as mentioned here) instead of doing this deal he gave me.

Thanks.

kyfdx · January 2006

Money down on a lease: Every $1000 lowers the payment by approximately $30/mo on a 36 month lease..

This payment doesn't look all that "special", compared to the deals I see advertised on the more expensive models..

regards,
kyfdx
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raybear · January 2006

That's strange, there's no 58.9% residual and the rate should be .0008.

Usually $1000 down as a cap reduction gives back $30.

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