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2013 and earlier-Subaru Forester Lease Questions

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Comments

  • brookotterbrookotter Member Posts: 6
    Hi -

    Thanks for the feedback!

    It's a 48K/48Mo lease, I'm at 64.5K, at .15/mi over. There's a fender ding that would be about $700 to repair, according to my body shop.

    B
  • chuck68516chuck68516 Member Posts: 195
    I still think it will be cheaper to pay your excess mileage charge and turn it in. Even if it costs you $3,000 it will be cheaper than buying it at lease end. If you buy it, you will have to pay off your new loan as no one will buy it back from you for that kind of money. Sales tax alone would be 1/3 of your excess mileage charge.

    Some dents are normal wear and tear. They should send you a template in the mail near your lease end showing you what the acceptable damages are. As long as it's within the template limits you will just be paying for the mileage.

    Also what ever you do, do not lease again. You drive WAY too much to lease. Leasing really only makes financial sense for people who can keep it under 12,000 miles a year. Even at 15,000 miles per year you are pushing the limits of normal wear and tear. 48 month leases are also not the best idea. Try to keep it within the 36 month bumper to bumper warranty and avoid having to spend money for new tires, brakes, etc. The 60,000 mile service alone at a Subaru dealer probably cost you over $500 correct?
  • brookotterbrookotter Member Posts: 6
    Hi -

    I agree with you heartily that l'm driving too many miles to lease these days. However, my life changed during the lease (another reason against leasing).

    At this point, you're also right about a lot of the maintenance: brakes have been done all around $700, as have tires $600, and the 60K service including filters and belts, which was a total of $600. So, that's money already spent. I did purchase the Subaru 48M/60K warrantee, but not sure it was worth it in retrospect, as the only things needed were maintenance items past 36K. Also, spilt milk.

    Looking forward, wIth the trim/option I have (XT, Premium, leather, sunroof, alloy wheels, premium sound, and security) and taking into account the region, color and high miles, the TMV on the car is between $14.7 and 16 for a dealer-purchased (retail/certified) vehicle, which I'd consider to be my replacement cost. I've looked at several similar cars (model, trim, condition, mileage) on lots and they do seem to be priced in the TMV range.

    So, even taking into account the purchase option fee, and the sales tax (which I'd overlooked, thanks), the cost the buyout would be less than the retail TMV. Checking my contract this am, it's puchase option $12651, plus $150 purchase option fee, plus 5% tax $660, for a total of $13,433.

    Are there other costs I'm missing that would impact this price? (I'm not worrying about excise ($65/yr) or registration ($40) as those are costs I'd have whether I kept this or got something else, and the excise is actually lower on this car because of the depreciation.

    Maybe I'm missing something, but I think what I'd be doing here - even in the absence of being able to negotiate on buyout price - would be to buy the car for about what it's worth on the open market.

    I'd be paying 2.9% on the money I'd be using to buy the car, and then my plan would be to pay it off and drive it till the wheels fall off, or when I can afford to buy (rather than lease) something I want - what I used to do before I started leasing nicer cars.

    Again, since I've not done this before, I'm wondering what I'm missing considering your advice above, but this doesn't seem to be a bad decision moving forward (the bad decision was to lease in the first place ;-)

    B
  • chuck68516chuck68516 Member Posts: 195
    If you've already put new brakes and tires, belts, etc. on it and you think it can go another 5 years I would consider keeping it. My only point was you are going to be spending a lot of money over the next 5 years for maintenance and out of warranty repairs. That and the fact that the used car market is terrible. You'd be lucky to get trade in value for it even if you sold it privately. A dealer would give you wholesale price if you ever decided to trade it in.

    According to KBB the Trade In value of a 2005 XT Premium is $10,675. Autotrader.com has 39 listings with the average ASKING price being $14,000. It may be worth somewhere between $10,000 and $14,000 on the open market but if you have to finance nearly $14,000 plus pay for repairs and maintenance on it, you might as well wash your hands of it now while you still can. Your 48 months of lease payments have already added up to what $18,000? More? Add in the extended warranty you bought, services, routine maintenance, tires, etc. and you've paid for the entire MSRP of this car already once. Might as well not pay for it twice.
  • kmg422kmg422 Member Posts: 10
    Optimum, I am going to sign some papers for the Limited this weekend, I am curious what your out of pocket expenses were for, are you putting money down? My numbers are very similar to yours. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome optimum. Since you are new to, 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.

    In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the vehicle that you want and then have the dealer calculate your vehicle's monthly payment using its buy rate lease money factor.

    You are off to a good start because you already know what this vehicle's selling price is. The model that you are interested in probably has a spread of around $2,400 between its full MSRP and its dealer invoice price. The $2,278 dealer discount that you were quoted looks very attractive to me, assuming that no customer cap cost reduction was used to arrive at it.

    Just make sure that the dealer uses Subaru's current buy rate lease money factor of .00120 to calculate your monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, Allen. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Forester X Premium with 10,000 miles per year are .00120 and 60%, respectively. Interestingly, the numbers for an otherwise identical lease of a base '09 Forester XT are exactly the same.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, lasher30.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, Joe. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Forester X Premium with 12,000 miles per year are .00120 and 58%, respectively. The numbers for an otherwise identical lease of an '09 Forester XT are .00120 and 59%.

    Car_man
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  • carchic1carchic1 Member Posts: 22
    Carman or anyone else,
    Would you be able to provide me with leasing price information on the Subaru Forester 2009 premium all-weather pkg. for the NY metropolitan area (more specifically, Long Island)? This is what I need guidance on:
    Adj. cap cost____
    Destination fee____
    Residual ________
    MF_____
    Many thanks.
  • stoopystoopy Member Posts: 105
    Your request is pretty vague, what terms/mileage? Auto or Manual transmission? Here's what I'm assuming you wanted:

    36 month/ 15,000 mile lease on a 2009 Forester 2.5X Premium w/ All Weather Package & Automatic Transmission, Residual is 58% and Money Factor is .00120. Destination Charge is $695 (up $30 from $665 as of Sept 08). Why does everyone want to know destination charge? I am assuming some shady dealers aren't including it in their MSRP. If this is the case I would look at an honest dealer that discloses MSRP including destination charge. It's a sleezeball tactic I've heard of but haven't been exposed to.

    Now then, you are asking for Adjusted Cap Cost as well. This is not a number anyone can furnish you as it will depend on your negotiated sale price which will depend on the MSRP and all discounts/haggling on your part as well as the dealer's. If you are asking for the ACQUISITION FEE which would be added to the Cap Cost (Sale Price) to make the Net Cap Cost it is $595.
  • on_the_cheapon_the_cheap Member Posts: 26
    good morning all! anyone know what Subaru is doing in May for MF/residual on Forester XT, Forester XT Limited?
  • cawinscawins Member Posts: 1
    Almost ready to do this and would appreciate feedback -- also info on any better May deals!

    2.5x Limited no NAV

    $25,379
    Residual value $15,435 (57%)
    10K miles (plenty for me), .0012 MF
    6% tax included in lease = $325/mo.
    36 month lease
    BUT I have to pay $595 bank fee, $299 conveyance fee (CT), plus a $300 disposition fee at lease end.
    Advice appreciated.
  • stoopystoopy Member Posts: 105
    They extended it thru May 4th.
  • on_the_cheapon_the_cheap Member Posts: 26
    thanks again stoopy - and for steering me towards Subaru (earlier post).
    being that the '10's are coming in June, i can only imagine they will want to clear out all '09's - and HOPE that either they extend the current offer or make it better after Monday - thoughts?
  • Cali123Cali123 Member Posts: 5
    I am looking at a Forester that has a msrp of $25,102.
    Here is what I am looking to do.

    I need a 36 month 15,000 miles lease. I do not want to put any money down at all. I want to roll eveything back into the lease.

    Does anyone have an idea at where I should be as far as payments. I want to have an idea before I enter the building.

    Thanks
  • stoopystoopy Member Posts: 105
    If you are talking about a Forester 2.5X Premium I'd shoot for a sale price of $23,000. THere aren't any rebates for the Forester as of 5-4-09 anyway so that is kind of limiting the discount on them. Plus they were Motortrend's SUV of the Year so the dealer's think they are made out of gold.

    Payment wise you should be around $295 PLUS TAX.
  • on_the_cheapon_the_cheap Member Posts: 26
    any ideas of MF/Resid on foresters as of 5/5?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi carchic1. I can provide you with information on what this vehicle's current money factor and residual value are, but it is difficult for me to say what its capitalized cost should be. In order for me to give you an idea of what price you should pay, I need you to provide me with the MSRP and dealer invoice price of the exact model that you are interested in, as you want it equipped. You can find that information right here at the New Vehicle Pricing section of Edmunds.com.

    Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Forester 2.5X Premium with 15,000 miles per year are .00110 and 56%, respectively. You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi on_the_cheap. Here's the info that you're looking for. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Forester XT with 15,000 miles per year are .00110 and 57%, respectively. The numbers for an otherwise identical lease of an '09 Forester XT Limited without navigation are .00110 and 55%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cawins. The best way to evaluate this deal is to look at this vehicle's selling price in relation to its MSRP or dealer invoice price. Is the $25,379 price that you mentioned this vehicle's MSRP or selling price? Let us know what both are and I'm sure that either myself or another knowledgeable community member will give you their opinion on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey cheap. Please see my reply in post #274 for the information that you're looking for. Good luck and make sure to let us know how everything turns out.

    Car_man
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  • fotboatfotboat Member Posts: 19
    OK, got this last weekend:
    MSRP = $24,800
    Sale price $22,500
    $ 1,500 Total out of pocket (basically paid all the fees up front)
    $275 month payment (includes 7% tax)
    (36m/10K lease)
    Decent deal
  • yomamayomama Member Posts: 2
    Hi! Wife and I were wondering if a lease makes sense for us. We can not afford payment to purchase so we thought we would lease and purchase after lease is up.
    Does this make sense or am I throwing money away?
  • yomamayomama Member Posts: 2
    Anyone have a round about idea of what would be a good deal for a 09 forester x premium lease? Looking for 3year, 10000mile/year.
    Also, should I be able to get a deal set-up over e-mail or do I need to visit dealer few times to "play" the games?
    Thanks for all of the advice!
  • stoopystoopy Member Posts: 105
    You're throwing money away to purchase at lease end. (Purchasing period). As long as you negotiate a great lease and go with a manufacturer that has high residual value such as Subaru, you can't go wrong leasing. I just leased an 09 Tribeca for $363 including sales tax with nothing down. If I would have bought it I'd be looking at a payment of $200 more per month even at 4.9%. Take that $200 and multiply it by 36 payments = $7200. Show me ANY way that it makes more sense to BUY when you can save $7200 in the first 3 years of a lease.

    Purchasing at lease end doesn't make any sense to me either though. You still have to pay the disposition fee and sales tax on the end value. It will be way more than buying one at market value. Lease, then lease and new one, repeat.
  • stoopystoopy Member Posts: 105
    I was around $330 including tax. I didn't like that deal at all though. $330 and no leather? The interior seemed way too generic and plastic to me also. I went with the Tribeca for $33 more a month. Leather, better designed interior, bigger, better. If you can get a Forester Limited for $330 go for it. Otherwise I wouldn't advise. You'll be sick of that plastic interior and ratcheting the seats manually in about 2 weeks.
  • gogomezgogomez Member Posts: 1
    I'm thinking about a Forester 2.5 X Limited, maybe with nav. What is a reasonable Lease payment to expect on these? Would a $330 be in the right ballpark?
  • badger1994badger1994 Member Posts: 21
    fotboat,

    That looks like a great deal. Where in the US are you? Dealer name?
    I've been quoted $336, and know that that is too expensive.
    My sister just got the 2.5XT Ltd. 36 mo., $371/month with $1,600 up front for all fees and taxes (CT state). She has 10k miles I believe.
  • nova10nova10 Member Posts: 1
    Hi all -- I'm new to the forum, and new to car ownership (seriously, I am a middle-aged woman who has never owned a car in my life). I live in New York City and really like the 2009 Forester. I have two kids, and will be using the car mainly for long haul trips out of state on weekends. I will park it in a lot rather than on the street.
    I'm seeking advice on whether it makes more sense to lease a 2009 Forester 2.5X Limited or to buy a certified pre-owned one. I could feasibly pay the cost up front in cash if I purchased.

    Thanks in advance for your guidance!

    Nova10
  • ateixeiraateixeira Member Posts: 72,587
    Ask car_man for specifics but I've seen some models with residuals of 61% with those terms, and that's best-in-class resale.

    Given your situation, leasing makes a lot of sense, and you picked a model with good lease terms.

    I buy, but that's because I tend to keep my cars for a long time.

    For example, I kept my '98 Forester for 9 years. Let's compare that to leasing 3 Foresters for 36 months each, the same time period. I also had 87k miles when I sold it so again let's stick to the same 30k*3 miles = 90k.

    Buying cost me 100%, but I got back 29% in resale value at the end of 9 years. So my cost was 71% over 9 years, minus the opportunity cost of course (I paid cash so there was no interest).

    Compared to leasing, I would have paid 100-61=39% of the value to lease for 3 years, but I'd have to have done that 3 times. 39% times 3 is 117%.

    Of course you have 3 new Forester instead of just one, and for the keeper you have to pay for repairs (mine cost next to nothing in that regard), but I doubt that would get the 71% up above 117%.

    I don't think you'll come out ahead in the long-term with leasing vs. buying a car and holding it for a long time.

    But your case is different - you'd probably have to buy less car than you want, and I doubt that would satisfy you for the next 9 years, so you'd trade it in much sooner and in a case like that you may end up paying more than with leasing.

    Go for the lease, in your case it totally makes sense and you picked the right model also.
  • noogman12noogman12 Member Posts: 2
    I was going to buy -- but it is looking like leasing may be the way to go. What do you folks think about the deal below? I am also considering waiting to get 2.9% financing hopefully on the '09 Foresters for 60 months to get them off the lot. Any thoughts?

    Leasing terms he laid out were 3 years 10k miles/ 280/month ---

    MSRP is $25,293 sell $22,964
    money rate.00095
    lease end value $14,669

    Black Premium with All Weather Package with Automatic Trans. This one has Luggage Compartment Cover, Cargo Tray, Rear Bumper Cover, Splash Guards, Auto-Dimming Mirror with Compass and all Weather Floor Mats. I can sell it for $22,964 this includes Destination Charge. Add $151 Doc Fee and your Local Tax.

    I am still trying to access all the fees but it doesn't look too bad.
  • ateixeiraateixeira Member Posts: 72,587
    Not bad, they are giving you a 58% residual based on the full MSRP.

    In reality you are paying 22964-14669=8295 in depreciation, or a little less than 33% of its list price for the 3 years of use.
  • lasvegasrphlasvegasrph Member Posts: 102
    Hello everyone! I am helping a friend finish up a deal on LEASING a 2009 Forester 2.5x Premium with 5-speed manual. It has All-Weather Package + several added on accessories. The MSRP is $24,390.

    Here is what we were offered:

    $1,000 due at signing (includes 1st payment + fees)
    $315/mo + tax = $338 monthly payment
    36 months/10,000 miles per year

    I think this is pretty good. We could probably get it down another $10/mo, but the 5-speed manuals are kinda hard to find. Plus this Forester is the EXACT color combo my friend wants, which might be worth the extra few bucks.

    Hope this helps!!!!!
  • lasvegasrphlasvegasrph Member Posts: 102
    Correction on my original post, there were some errors from the dealer (they were using 15,000 miles/yr). Here are the final figures:

    2009 Subaru Forester 2.5x Premium with All-Weather Package, 5-sp manual.
    MSRP: $24,790 (including the below accessories:)
    (there was some confusion about the final MSRP, this vehicle has some extra accessories that are a part of a popular equip package: Splash guards, rear bumper cover, luggage holder, side mouldings, Auto-Dim Mirror w/homelink, tail pipe finishers)

    Here are the final figures:
    $1,000 due at signing (includes 1st payment/tax/fees)
    $297/mo. + tax = $319.08 total monthly payment
    36 month lease/10,000 miles a year

    The dealer is here in Las Vegas, NV. It took quite a bit of work to get this deal, but it was worth it in the end. I ran the numbers, and I believe this deal is at invoice or slightly below.
  • on_the_cheapon_the_cheap Member Posts: 26
    you put the "MAN" in carman! thanks for all your help! i saw a recent post that someone got a lease mf on an '09 Forester @ .00095 - is it really that low now? '09 XT LTd???
  • carchic1carchic1 Member Posts: 22
    Thank you so much - this is very helpful!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Nova10. The Forester has a fairly attractive lease program available on it right now, so there's definitely nothing wrong with leasing one. However, if I lived in NYC I personally would probably be leaning towards going with a used vehicle. Even if you plan on parking it on a lot, cars can get pretty dinged up in the city.

    Besides unless you plan on going on vacation frequently and going very far away when you do, it sounds as though you will be putting very few miles on your vehicle, possibly fewer than 10,000 miles per year which I believe is the lowest mileage allowance that Subaru leases vehicles with. If that is indeed the case, then you may end up wasting miles that you paid for if you lease.

    You really can't go wrong either way, bit I personally would probably lean towards used in this situation.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks cheap :) . Yep, the Forester's May money factors are either .00095 or .00110 (they vary by trim level).

    Car_man
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  • on_the_cheapon_the_cheap Member Posts: 26
    took delivery today, xt ltd spark silver / dark gray int:

    auto dim mirror w/ homelink, all-weather mats, pop equip pkg b, paint protection,
    body side-moldings, and 2-year service agreement.

    12k/year / 36-month lease

    $0 down, $418 / month

    they also waived 1st month payment + cap cost reduction of $195 (part of initial agreement that changed) just to get it out this month, and tax, totaling $625.

    i'm very happy, great local dealer i'd highly recommend - and thanks again to all contributors here (and especially the hosts)!
  • chuckb4chuckb4 Member Posts: 12
    and Residual for the Forester 2.5 X Limited, 12.5 and 15, 3 year?
  • banker71banker71 Member Posts: 8
    What is the current Money Factor and Residual for a 36 month lease with 10,000 miles per year. I use this as as nanny car and am very price sensitive.
  • jms49jms49 Member Posts: 4
    2.5X Limited (9FI)
    MSRP 26968
    Negotiated Price 25250
    or
    2.5XT (9FM)
    MSRP 26890
    Negotiated Price 25250

    Can someone offer me the Money Factor and Residual for a 36 month lease with 10,000 miles per year or 15,000 miles per year? I am ywant to put the finishing touches on this deal by the end of this month before hte inventories start to dwindle and the 10s start coming in.

    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, on_the_cheap. Congratulations on getting your new Forester. Thanks for taking the time to report back and let us all know how everything turned out. If you have the time, make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with everyone as well. Enjoy your new ride!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chuckb4. Here's the info that you're looking for. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Forester X Limited with 15,000 miles per year are .00110 and 54%, respectively. If you were to lease this truck with only 12,000 miles per year, its residual value would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi banker71. I would be happy to give you an idea of what the Forester's lease program is like right now, but its program varies by trim level. Provide me with a detailed description of the Forester that you are interested in and I'll give you the numbers for it. For now, you can take a look at my previous post to get a general idea of what this vehicle's current lease program is like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, jms49. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Forester 2.5X Limited with 10,000 miles per year are .00110 and 56%, respectively. The numbers for an otherwise identical lease of an '09 Forester 2.5XT are .00110 and 59%.

    Car_man
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  • jms49jms49 Member Posts: 4
    Thank you car_man!

    Just want to make sure my spreadsheet calculations for each model are correct from your reply and the other info I gathered in this thread for June

    Model/residual/money factor/mileage

    Forester X Limited 54% 0.0011 15k
    Forester X Limited 55% 0.0011 12k
    Forester X Limited 56% 0.0011 10k
    Forester XT Limited 57% 0.0011 15k
    Forester XT Limited 58% 0.0011 12k
    Forester XT Limited 59% 0.0011 10k

    Thank you for all of your help!
  • jms49jms49 Member Posts: 4
    And, is there any difference in these figures if I wanted to get a 2010 model?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, jms49. Subaru has a new July lease program out now. Are you interested in the details of the new program?

    Car_man
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