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2013 and earlier-Subaru Forester Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jms49. Subaru's lease program for 2010 models is indeed different than its program for 2009 models.

    Its current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester 2.5X Limited with 15,000 miles per year are .00230 and 59%, respectively. The numbers for an otherwise identical lease of a '10 Forester 2.5XT Limited are .00230 and 58%.

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  • csprocspro Member Posts: 2
    Car_man

    I got an offer on 36 months lease on 2009 forester premium (automatic) with all weather pkg and some other options
    MSRP $25300
    Sale price $22600
    MF: 0.00075
    Residual: 57%

    $1499 drive off and $249 per month (10k miles per year)

    Is it good enough to pull the trigger?

    Thanks!
  • vitasthefetusvitasthefetus Member Posts: 1
    I'm definitely interested in the details of the new program. Do you have the MF/Residual info for both 2009 and 2010 Foresters?

    Thanks in advance!
  • dataportdataport Member Posts: 7
    Newbie, but this forum is fantastic. Subaru is touting a 2.5X lease, 3 yrs, 12K miles, $1500 down, for $250/mo. My question: Do all the dealers adhere to this, or will I run into pricing variations depending on where I go. Thanks. BTY, I'm in Baltimore area.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cspro. The Forester that you described probably has a spread of around $1,900 between its full MSRP and its dealer invoice price. The dealer discount that you were quoted is much higher than that. Plus, the money factor that you were quoted is right ion line with Subaru's buy rate for this model. If you like the vehicle, I personally don't see any reason not to go for it.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi vitasthefetus. Subaru's lease program varies by trim level, term, and mileage allowance. I don't believe that you mentioned what any of these variables are, so for now I will have to make some assumptions. 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 2009 Forester 2.5X with 15,000 miles per year are .00075 and 53%, respectively. The numbers for an otherwise identical lease of a 2010 model are .00230 and 59%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome dataport. I'm glad that you find this forum so helpful. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Manufacturers' advertised lease payments often leave a little meat on the bone so to speak in terms of the selling price that they are based upon. That makes sense if one thinks about it. Dealers would be pretty irritated if their manufacturer advertised the thinnest possible deal on a vehicle. As a result, savvy consumers who are in an area that has a decent level of competition are often able to negotiate a lower selling price, and in turn a lower monthly payment than the one that is used in official advertisements for vehicles.

    Conversely, the addition of any options and sales tax will increase a vehicle's advertised payment.

    Car_man
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  • dataportdataport Member Posts: 7
    Kudos to you Car Man - After going through these posts and your in-depth knowledge, you have cut through the mysticism of leasing. I know see the variables clearly and how they affect the bottom monthly cost. Have a couple more quick questions:

    - It appears that 2 of the variables are 'fixed' by Subaru: lease factor & residual. The only issue left for the dealer is the selling price - is that correct?

    - Are there any issues I need to watch out for that they (Dealer) might try and sneak onto the selling price - freight/destination, extended warranties, etc ?

    - Do you know if they have a threshold Credit Score to be eligible for a lease? I shouldn't have a problem, but will prob obtain the combined score before applying.

    - Lastly, is the residual percentages set in concrete by Subaru - or does the Dealer have any variations available to them.

    Again, a big "Thank You" for cutting through all this red tape.
  • dan2601dan2601 Member Posts: 1
    This may be complicated, but maybe there is a way. Since the base price is better in the US, it makes sense to at least think of this option. Also, the Cdn dollar has a decent change to appreciate over the greenback over the next few years (resource-based economy and all).

    In short, is there a smart way to do this, considering that I do not have any bank account or credit history in the US?

    Thanks a million,
    Dan
  • ateixeiraateixeira Member Posts: 72,587
    So the 2010 residuals are higher, but it's the 2009s that have the subsidized interest rates.

    I guess do the math for your given situation.
  • aforester2010aforester2010 Member Posts: 2
    Hello Hello!!

    This forum has really helped me to understand the negotiation details of a lease. I do not, however, understand the relationship between what you initially put down and your monthly payments. For example, I said I would put down 1250 w/12 k miles/year on a 2010 Forester 2.5x Premium (~26,800 MSRP.) The dealer came back with a deal for 10k/year and 396+tax (!!)/month. Granted, that was the first offer. Had I decided to stay longer perhaps we could have gotten somewhere, but still that seemed awfully inflated. Since he wouldn't tell me what the Money factor or residual value % was, I had to backsolve that information, but still how would my $1250 affect my monthly payment total?

    -PLEASE EXPLAIN HOW INITIAL MONEY DOWN AFFECTS MONTHLY LEASE PAYMENTS. If there is a formula, please share.

    THANK YOU SO MUCH :):):)
  • gunrockbeachgunrockbeach Member Posts: 1
    Went to test drive and talk about leasing a forester today....salesman acted like he didn't know what I was talking about when I mentioned the lease that is currently advertised by Subaru on their website for the forester (approx 1600 down and approx 250ish a month for 36 months)...he tried to tell me why that price wasn't available and that the 09s were almost all sold out so I'd have to look at a '10. Any advice on how to get the lease terms that are actually advertised? I strongly dislike dealing with care salespeople but really like this vehicle...
  • ateixeiraateixeira Member Posts: 72,587
    Just a thought, but see if the offer appears on Subaru's web site.
  • aforester2010aforester2010 Member Posts: 2
    Since I never received a response to my question above, I continued my search and found a much nicer deal with Audi. Granted, I had to compromise on having 4WD, and my passengers may feel cramped in the back seat during a 7 hour road trip. Audi's lease offer on the A3s, in the end, steered me away from Subaru. The price matched the worth of the car and that's exactly what I set out to accomplish when I started this journey!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks dataport :blush: .

    You are absolutely right. The main variables for a lease are the money factor, residual value, and selling price. One needs to know the MSRP as well to work up a lease payment, but that number is a constant.

    Some dealers attempt to mark up vehicles' acquisition fees or money factors to try to add additional, hidden dealer profit to deals, but that sort of thing is much more common with luxury brand dealers than with Subaru dealers.

    I'm not sure of what sort of credit score is required to take advantage of Chase's best lease money factors for Subarus, but I can look into it for you.

    Vehicles' residual values are indeed set in stone by the bank that you are leasing through. Individual dealers do not have the authority to alter them.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Interesting question, Dan. I suspect that Chase restricts its leasing of Subarus to the Continental United States and that it would not allow a Canadian to take advantage of its current program, but you can always check with a dealer to find out for certain if that is indeed the case.

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  • conger14conger14 Member Posts: 25
    Hi,

    I have the following deal in place but I wanted to check on the money factor:

    2010 2.5X Premium
    MSRP 25215
    Sale Price 23400
    MF .00270
    Residual 62%
    15k miles a year
    36 months.

    With a trade of a 2005 subaru legacy GT wagon where they are giving me 9800 and wiping out 2900 in negative equity gives me a monthly payment of 429.17 a month with 1383 due to pay tax/title/registration

    I live in franklin county NY where we pay 8% on sales tax.

    I have checked with four other dealers who can't even come close to this deal, especially with the trade so I'm pretty sure its a very good deal but I'm just wondering about the 2010 MF. Please let me know as soon as you can CarMan.

    Thanks
    Stephen
  • zamozamo Member Posts: 122
    Residual 62% ?

    Wow, that is excellent !
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aforester2010. Down payments on leases aka capitalized cost reductions lower the amount financed which in turn lowers your monthly payment. I personally am not a big fan of putting money down when leasing. First of all, the money that you put down does nothing to reduce the end of term purchase price of your vehicle should you decide to buy it at lease-end.

    More importantly, consumers who make large down payments when leasing rosk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be slightly higher, you will be better off going with a zero down lease.

    You may want to check out the following articles on leasing that are available here at Edmunds.com prior to finalizing your deal
    : 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Stephen. Chase's (Subaru runs its special lease offers through them) current buy rate lease money factor for a 36 month lease of any 2010 Forester is currently .00230. Make sure that the dealer uses that factor to calculate your vehicle's monthly payment.

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  • dataportdataport Member Posts: 7
    Does Subaru/Chase offer 4 year leases? If so, does the money factor generally go up or down as the term increases.
  • ateixeiraateixeira Member Posts: 72,587
    The A3 is much smaller, but those sure are nice. You got a Fronttrak? I'm not surprised you paid less, the Forester is bigger than the Audi Q5.
  • gigoypotpotgigoypotpot Member Posts: 21
    Hello Car Man,

    I am interested in leasing a 2009 or 2010 Forester 2.5X (automatic) base model.
    I'd like to know current MF and RV for 24 month lease. I am already in contact with two local dealerships via the internet and would like to make sure they are giving me the correct numbers. Thank you very much!
  • gigoypotpotgigoypotpot Member Posts: 21
    Hello again,

    I contacted Cerritos Subaru regarding leasing a 2010 Subaru Forester 2.5X (auto). Here is what they came up with:

    2010 Subaru Forester 2.5X
    Color: Black or Sage Green
    RETAIL MSRP: $ 22,700.00
    Your Eprice: $ 21,444.00

    24 month lease
    Residual for 15k is 65%
    Money Factor is 0.00355
    With $1000 down
    Monthly payment is $429+tax for 24 months

    I personally think this is high, although i punched in the numbers using a lease calculator and the monthly payment seemed pretty accurate. At this price, I almost would rather purchase the vehicle. I think some people who purchased their Foresters even have a payment less than this. I just need feedback on where I could still bargain and what else I can ask for. Thanks a lot.
  • ateixeiraateixeira Member Posts: 72,587
    Can you stretch to a 3 year lease? Residuals don't go down much, but the payment will.
  • gigoypotpotgigoypotpot Member Posts: 21
    Hi thanks for your reply. I am not really interested in a 36 month lease as I plan on purchasing a vehicle in approximately two years. Just need to graduate from my Master's program in two years then I'm ready to purchase.

    No luck in getting Cerritos Subaru to make a more decent offer. :(
  • ateixeiraateixeira Member Posts: 72,587
    Take that extra year to save up. You gotta work first, then earn, then buy the new car! :D

    Just kidding, do what you want.
  • gigoypotpotgigoypotpot Member Posts: 21
    You have a very good point. I will sleep on it! =)

    Thanks for all your help!

    Car man,
    Could you please post current MF and RV for 12k/15k Subaru Forester 2.5X for 24mo and 26 mo? thanks!
  • lb_livinglb_living Member Posts: 4
    Hi All,
    Can someone proived (car man, hint hint) with the money factor and deprec.% on an '10 Forester XT Limited with Navigation?

    The MSRP including destination is $30,990. I figure I can get him/her down to $29,500.

    Also, has anyone noticed little differenc between the middle cars and luxury cars in lease price lately?? I went to Honda and they quoted me $570 a month for the Pilot EXL with Navi. For another $60 a month I'll get a Mercedes. No thanks.
    I remember when there was a much wider gape in $$ between Hondas/Nissans/Toyotas and Lexus/Accura/Merc etc etc.
    Just throwing it out for conversation.

    Thanks Much,
    CJ
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dataport. Subaru does offer support on 4 year leases of most models, but its 48 month money factors are not quite as attractive as its 36 or 39 month factors are.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gigoypotpot. Subaru is not currently providing support on 24 month leases of any model. As a result, you would be much better off going with a 36 month lease of this vehicle. Chase's (Subaru runs all of its special leases through them now) current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester 2.5X with 15,000 miles per year are .00230 and 59%, respectively. The numbers for an otherwise identical '09 model are .00075 and 53%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gigoypotpot. I can understand why you wouldn't want anything longer than a two year lease, but it just doesn't make sense to lease any Subaru for two years right now. Subaru is not really providing much in the way of support on two year leases right now. As a result, lessees who go with a two year deal have to pay a much higher interest rate than those who go with a three year lease.

    Subaru's August buy rate lease money factor for a 24 month lease of a 2009 Forester 2.5X was .00275, which is equivalent to an interest rate of around 6.6%. Compare this to its three year money factor for this model of .00075, or 1.8% and going with a three year lease is a no brainer, even if one really doesn't need the extra twelve months.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey gigoypotpot. See my previous post for the difference between the money factors for 24 and 36 month leases of this model. As far as its residual values go, Subaru's August 24 month, 15,000 mile per year resid for a 2009 Forester 2.5X was 59%. The resid for an otherwise identical 36 month lease was 53%. I believe that the 12,000 mile per year residual values for this model would be 1% higher.

    Subaru is scheduled to introduce its new September lease program sometime today. Let me know if you're interested in what the new program is like.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ha :D , despite its subtlety I got the hint, CJ. Subaru's August lease program just expired yesterday. It is scheduled to introduce a new September program at some point today. For now, I will provide you with the Aug. info. Let me know if you want the new Sept. numbers.

    Subaru's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester XT Limited with Navigation and 15,000 miles per year were .00230 and 58%, 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.

    As far as the Pilot goes, a couple of months ago for some reason Honda decided to pull the plug on its support for most trucks. As a result, the Pilot is an absolutely terrible vehicle to lease right now. It's not a bad truck, but for the life of me I can't understand why anyone would get a Pilot when there is a ton of other nice trucks out there that have much better deals available on them right now. I am surprised that Pilot sales have held up as well as they have.

    Car_man
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  • lb_livinglb_living Member Posts: 4
    Thanks Much, Car Man!
    Can you provide the Subaru Forester XT with Navi details when they're released for Sept? 15,000 and 36months.
    I'm heading to the dealership later in Sept and need some amo!
    You're the best.
    Thanks,
    -CJ
  • fletchedmfletchedm Member Posts: 39
    Could really use these too! Shopping this weekend and next....Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem CJ. Subaru's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester XT Limited and 15,000 miles per year are .00210 and 58%, respectively.

    What's the inventory situation like in your area right now? I've heard that most Subaru dealers are running pretty lean right now after several consecutive months of record sales.

    Car_man
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  • travisdogtravisdog Member Posts: 1
    I'm 10 months into a 36 month lease on a 2009 Subaru Forester. I like the car alot and for financial reasons, am considering buying out the lease early from Chase. Has anyone had any prior experience with this and if so, what should I be looking at to determine if it's in my best interest to do so. Thanks.
  • garybobgarybob Member Posts: 2
    Car Man

    What are the September lease rates for a 2010 Forester Premium X automatic. The lease on my 08' is up and I'm considering a new one.

    Thanks
    Garybob
  • starbirdstarbird Member Posts: 38
    I can't answer your question but I can recommend penfed for the loan. As edmunds suggested in an earlier article, they do refinance at quite a low rate.
  • lb_livinglb_living Member Posts: 4
    Went to a Sub Dealership in Long Island, NY yesterday.
    2.5x Limited with Navi

    $0 down, only first month and DMV Fees
    They wanted $479 a month, 15,000 miles, 39 months.
    Using 55% depreciation and .0021 Money Factor.
    $29,000 for the care plus 8.625% sales Tax

    I rolled in Taxes in.

    I didnt think this quote was way out of whack but felt a little negotiating would get me closer to my goal, $450 per mont. Turns out the guy wouldn't come down 1penny!. Even after telling him if he came down to $460 I'd sign on the dotted line right now. Unreal! I've never seen a dealer act so passive in my life. And I've lease 7 cars prior where they've all come down at least $20 a month on their original quote. He claimed that Subaru's have very little wiggle room an that he alread came down a few hundred from MSRP.

    All and all, he let me walk right out.
    However, he did say that what should bring it down come Oct 1st is a new/lower money factor. So, he was at least honest about that.

    Car Man (or anyone else knowledgable),
    Have you ever heard about Subaru's having very little wiggle room? I'm talking maybe a couple hundred off of MSRP? Someone else I know had the same experience at another dealersip. In fact, that guy wouldnt come down more than $100 from MSRP.

    Also, any idead of the new Oct money factors for Subaru 2.5x Limited With Navi?
    THanks as always,

    -CJ
  • djhalptertdjhalptert Member Posts: 115
    I always hear horror stories about you New York/New Jersey area car buyers. I think the dealers up there are just WAY too greedy.

    In April my wife leased a 2009 Tribeca Special Edition, MSRP $34K for $363 with ZERO DOWN, 36 months, 10K per year. We had to threaten to go out of state to get it down from around $380-$390. Still, patience and persistence and threatening to buy from a different dealer will usually help you achieve your price. The key is to go in with multiple quotes. Even if you have to lie and say X dealer quoted you $X amount. They don't want to lose out on your business to one of their competitors.
  • cdnj1cdnj1 Member Posts: 16
    Hi, I just made the last payment on my existing lease and will need to get into a new vehicle this month.

    Carman - do you have the new MFs and Residuals for October yet?

    I'm looking for Forester 2.5 Limited for 36 months at either 12k or 15k per year. Can you provide these numbers?

    Thanks,
    chris
  • stoopystoopy Member Posts: 105
    Carman,

    Could you please share the 2010 Forester 2.5XT Limited lease numbers? I am looking at 36 mo. 10K per year. Thanks.

    Also, the 2.5XT Premium.
  • lb_livinglb_living Member Posts: 4
    Hi
    I'm not the carman but I did lease a Forester2.5X Limited with Naviation this past Saturday.
    Here's what I got:
    15,000 per year
    57% Depr.
    .0021 Money Factor
    MSRP was 29,300 and I got him down to 28,500

    I rolled in bank fees and taxes to the monthly payment
    So, the only think I put down was DMV fees and 1st Month Pmt.

    All and all, It came to $473 per month.

    I've leased everything from Nissans to Hondas to Lexus to Audi.
    This was my first Subaru and I have to say that these guys don't show much wiggle room at all. It's almost a kind of "it is what it is" attitude. I went to 4 dealerships on Long Island, NY and almost every salesperson gave my the exact same lease quote. When I tried to tell them I'm willing to sign right now if they can get a little lower, they basically said they can't and let me walk right out the door. I'm not talking a lot lower, I mean something like $475 a month to $465 a month.
    This was a first to me. Every other car make I've lease in the passed always came down at least $20 per month from thier first quote.

    I guess you just have to accept, like I did, that Subaru is more of a niche market that doesnt have nor want the volume out their to compete with Honda and Nissan.
    In other words, they're happy where they.

    Not to go without saying, I believe in the quality of Subaru and was willing to accept the terms.
    I did get them to throw in free oil changes for the life of the lease though! Woohoo!
    lol

    Hope this helped,

    -CJ
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Garybob. I would be happy to help you out with the information that you are looking for. This vehicle's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will have to make some assumptions. 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 2010 Forester Premium X with 15,000 miles per year are .00210 and 60%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi CJ. Sorry to hear that dealers in your area aren't more willing to work with you. At least there's a ton of dealerships in your neck of the woods. If the first one or two weren't willing to work with you, perhaps there's another out there that will.

    The problem with buying a Subaru right now is that the company has been absolutely tearing the cover off of the ball to use a baseball analogy in October. Subaru has been setting monthly sales records on a regular basis. The Forester has been especially hot. As a result, its inventory levels in certain areas are pretty thin. Strong demand combined with a reasonable inventory level doesn't provide dealers with much motivation to negotiate.

    As far as this vehicle's lease program goes, Subaru's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester 2.5X Limited with 15,000 miles per year are .00210 and 57%, respectively.

    You never mentioned how long you want to lease for or what mileage allowance you need. Let me know if you want something different.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Chris. 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 2010 Forester Limited with 15,000 miles per year are .00210 and 57%, respectively. The residual value for a lease with only 12,000 miles per year would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, stoopy. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester 2.5XT Limited with 10,000 miles per year are .00210 and 60%, respectively.

    The numbers for an otherwise identical lease of a 2010 Forester 2.5XT Premium are .00210 and 62%.

    Car_man
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  • bigdadi118bigdadi118 Member Posts: 1,207
    It shows how popular the Forester is in its factor .00210 vs Legacy factor .00190

    It is expensive as there's NO incentive to dealer and/or buyer to lower the car selling price.

    Best negotiation now is buy at invoice price or $200 lower if lucky day at end of month. I think dealer is willing to lower a little more if you order the car instead of one in lot, so they have one more car to sell.
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