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2013 and earlier-Subaru Impreza Lease Questions

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  • mamamia2mamamia2 Member Posts: 707
    Yes, the hatchback was a little more expensive to lease, but we wanted it, not the sedan which is not only less sexy (much less sexy....) but also longer, and size was a consideration here (parking in a tight, narrow building garage).

    But I'd like to know what others are thinking, based on their experience.... Is this a good deal? Should we go for it? We pay only first payment plus license plates and registration, which go to the state.
  • kyfdxkyfdx Moderator Posts: 234,725
    I don't think you can beat that on a hatch...

    I leased the sedan because it was cheap... I'd rather have the hatch, too.. :)

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  • mamamia2mamamia2 Member Posts: 707
    Thanks.... I was a bit surprised as to how less expensive the Impreza was to lease, compared to rivals like Mazda 3.... The guy told me Subarus keep their residual value better than other cars, these days...

    I was also surprised to get this one particular dealer's prices, significantly lower than 2 other Subaru dealers in my area... He was also extremely professional and responsive to my emails, straight forward and honest, both while corresponding via email, on the phone and when meeting him.
  • indianajohnsindianajohns Member Posts: 89
    The best quote I received on an Impreza 5 door was $240 including tax on a 36 month. I got a quote on an '09 Legacy Special Edition for $228 on a 24 month lease. I like the Impreza a lot but the Legacy is more car for about the same money.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, carrerah. Subaru's January buy rate lease money factor for the 2009 WRX is now .00280.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kspr. Subaru doesn't seem to be providing lease support on 24 month leases of the 2009 Impreza right now. Its 24 month buy rate for this car is an unattractive .00305. You will be much better off going with a 36 month lease and the .00160 money factor that is available for that term.

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  • everlastingeverlasting Member Posts: 3
    Hi Car_man:
    I am also interested in the Subaru Impreza on the 36 month lease.
    Can you tell us the residual for the Impreza 2.5i Premium with automatic
    for the 4 door and the 5 door? and is the .00160 money factor good on both?
  • wonwayoutwonwayout Member Posts: 4
    Car man - I live in northern NJ and am looking to lease an Impreza Outback Sport with remote starter and ipod adapter. Can I get an idea of how much they sell for? Approximately what should my monthly lease payment be over a 36 month period? What might the residual be after 3 years? As a side I can't believe this car doesn't come with a sunroof. Nice car though. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, everlasting. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Impreza 2.5i Premium 4-Door with 15,000 miles per year are .00220 and 61%, respectively. The numbers for an otherwise identical lease of a 5-Door model are .00220 and 56% (wow the resid. for the wagon is a lot lower).

    The .00160 money factor is only available on base i.e. non-Premium models.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi wonwayout. This car's lease payment will vary depending upon what its MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. For now I will work up a sample lease payment on this car for you using an MSRP of $22,315 and a selling price of $21,079 (just under dealer invoice).

    Using these prices, I estimate that this car will have a 36 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $313.

    I used a residual value of 56% (of MSRP) to calculate this payment.

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  • wonwayoutwonwayout Member Posts: 4
    Much less for $12,000 miles per year? Thanks!
  • wonwayoutwonwayout Member Posts: 4
    forget the $ sign... :) 12,000 miles per year.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Can you tell me the lease numbers for the 09 WRX?

    What's the residual and money factor (10 or 12k lease), 3 years. Edmunds lists a plethora of deals and the Subaru site mentions 339 a month.

    By my best guess, it's 0.0023 MF and 61% residual for 10k.

    Thanks!
  • r129r129 Member Posts: 2
    I'm in Western NY and looking at a 2.5i base, 36 month lease. I'm wondering what the difference in MF and residual is between the 4-door and 5-door for both 12k and 15k per year terms. Also, is there a difference between manual and auto? Thank you!
  • chuck68516chuck68516 Member Posts: 195
    "Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Impreza 2.5i 4-Door base with 15,000 miles per year are .00160 and 61%, respectively. The numbers for an otherwise identical lease of a 5-Door base model are .00160 and 56%. The 12,000 mile lease would add 1% to the residual."

    This is from Car_Man's post Feb. 12th. Right above your question. Pretty sure nothing has changed in 4 days.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Thanks but that's for a 2.5 and the lease rates on the 2.5 and WRX are quite different. They're totally different cars. When I heard from the dealer yesterday regarding leasing rates they had a far worse money factor (equivalent of about about 5.5% or 0.00230)) and the residual was marginally better on the hatch.
  • chuck68516chuck68516 Member Posts: 195
    Is it me or are people having trouble reading in here? Maybe we should change the font.

    My reply about 2.5i base numbers was not directed to you. That's why it says "Replying to: r129" not "Replying to: blueguydotcom." I don't have any idea what the WRX numbers are. I didn't have any idea what the 2.5i base numbers were either. The only reason I RE-POSTED the 2.5i base numbers was because they were in plain sight 2 posts above.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Dang, lighten up. Seriously. have a pop tart.

    My sincerest apologies for the 10 seconds it took you to read my post. I will consider 3 hail marys and a meal for an orphan as penance.
  • chuck68516chuck68516 Member Posts: 195
    You were the one who jumped all over me. "THEY ARE TOTALLY DIFFERENT CARS." Sound familiar? Now excuse me while I go enjoy a Pop Tart.
  • ateixeiraateixeira Member Posts: 72,587
    I didn't notice him using any caps.

    Mmm, hot filling, *ouch* burned my tongue. :D
  • lch77lch77 Member Posts: 53
    I understand to find out EXACTLY how good a deal you are getting, you need to have the MSRP, Sales Price, Residual and Money Factor. However, when I shop leases I just divide the MSRP by the monthly payment to get a “Lease Factor.” The higher the better. If I find one 90-100 without anything down, it’s usually a good deal. I use it to compare the leases on similar cars before even checking the other details. It’s good as a quick check. If you have to put some money down, subtract that amount from the MSRP first. Lease rates are before taxes.

    Anyway, my local Subaru dealer had a 2.5i with an MSRP of $19,323 and a lease of $216/month for 36 months, 10K miles ($5 more for 12K; $10 more for 15K) with $999 down. That gives me a lease factor of 85. The Outback Sport I wanted had an MSRP of $21,045. Using the same Lease Factor, I get a monthly rate of $236, but the dealer quoted me $292. That’s 35% more for a car that costs only 9% more. I recognize that the residuals and money factors might change from model to model, but I didn’t expect them to be so different. When I asked, she quoted 63% and .00190 for the 2.5i and .00220 and 58% for the Outback Sport.

    I also see that Mazda is promoting a $179/moth lease on the base car. Again, I wouldn’t think that the Sport should be $100 more per month.

    Car Man, what are the factors for the Outback Sport for 36 months with 10, 12, & 15K miles and how much is the current rebate?
  • chuck68516chuck68516 Member Posts: 195
    Your way of figuring leases isn't very scientific to say the least. Since each model's sale price and residual vary greatly. The differences would DRASTICALLY affect your calculations. It is actually about the worst way to "eyeball" what is a good/bad lease deal. I can lease a $35,000 Ford Flex for $26,000 selling price but because of it's low residual the payment would actually be higher than a $35K Lincoln MKZ that sells for over $31,000.

    You really only need to worry about 3 things. Sale price, residual and money factor. Everything else is a moot.
  • lch77lch77 Member Posts: 53
    I was hoping that someone would challenge my "Lease Factor" because it seemed to be too simplified to me. While I agree that your example shows how the important factors influence the payment, assuming you will not be buying the car after the lease (just turn it in), which of your examples is a better deal? In both cases you get to drive a $35,000 car for three years but the payment is lower on the MKZ? Isn't that then the better "deal?" That car also has a higher lease factor.

    I think what you are saying is the "real" value of the two $35,000 cars are $31K & $26K repectively but you can lease the MKZ with the higher real value for less? My "quick" factor cannot give you this information and that's when you need to find the residual & money factors, Again, it just points you quickly to the better leases and is probably more accurate to use within a particular model. I also recognize that some options are removed when calculating the residual as these are considered to be worthless after 3 years. Those would affect the actual payment byt not my Lease Factor.

    BTW, I price a car on Edmunds to obtain the MSRP & TMV. I then try to get the factors from this forum and then plug those 4 values plus the local method and sales tax rate into a downloaded lease calculator to get a lease that should be acceptable and offer it to the dealer. Is there anything wrong with this strategy?

    Note, I discussions in this forum, I'd suggest that all quotes be exclusive of sales tax as not every state implements them the same way. Some states just add the going rate to the MSRP, others might add it to the CAP cost, and here in PA, our 6% Sales Tax is not used at all. You just calculate the lease without any taxes and then add 9% Lease Tax to that lease cost to determine your payment. :cry:
  • blueguydotcomblueguydotcom Member Posts: 6,249
    go to www.leaseguide.com and read up on leasing.

    TMV is worthless. You don't shop TMV. You aim for the best price - TMV is a sucker's bet. Even when leasing you look for the lowest sale price (if there is money/rebates/trunk cash then you want invoice minus that amount).
  • jd2009jd2009 Member Posts: 1
    I recently got the $199/month-noDownPayment option from Subaru.

    No worries about yearly registration, windshield wipers, fluid, bulbs, any maintenance, tires, all included with the Subaru Lease (it even says it in the brochure).

    1 single oil change after 10,000 miles, that's all I have to pay for myself.

    In addition, I am driving a new car every 3 years. Only backdraw is the full coverage insurance wise, but still.
  • lch77lch77 Member Posts: 53
    I've found that Subaru, as most other manufacturer's, offer different deals in different regions. Where did you get that deal and is the $199 for the bare bones model?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey wonwayout. Using an MSRP of $22,315 and a selling price of $21,079, I estimate that the 36 month, 12,000 mile peer year zero down, pre-tax monthly payment for a 2009 Impreza Outback Sport would be around $301.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly can blueguydotcom. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Impreza Sedan with 12,000 miles per year are .00280 and 58%, respectively. The residual value for an otherwise identical lease with only 10,000 miles per year is 1% higher.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, blueguydotcom. Subaru is providing cash incentives and better money factors on the Impreza 2.5. It is not currently providing any lease or cash support on the WRX.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey lch77. I believe that I just mentioned the numbers for the Outback Sport a couple of posts ago. Please check there for the info that you need. As far as cash incentives go, Subaru is providing $500 on the '09 Outback Sport right now. This cash is compatible with its special lease program,

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  • lch77lch77 Member Posts: 53
    Car Man

    Thanks for the info in #229, but in post #228 you said you calculated "around $301" for that outback Sport but you didn't actually list the factors. I used 58% and 0.00220 and go $300.86. In post #229 you listed 58% and 0.00280 as the factors for an Imprezza sedan, not the OBS. Anyway, could you please reconfirm the factors for the Outback Sport for both 12K & 15K miles.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Thanks. I ended up buying something else. If the WRX had a 6 speed, I would have bought it that weekend. The 5 speed felt like it was on boil at only 80 mph. :(

    Love the used 335i I bought instead but I feel the WRX is a better car in many respects: more room, better build quality, better engineering, lower maintenance costs. The 09 WRX is a great car.
  • ateixeiraateixeira Member Posts: 72,587
    I got to sample RSHolland's WRX last weekend. It was nice. Didn't get it up to high speeds, we took curvy roads. I got a new Miata and we just went looking for fun roads.

    I liked it too...what surprised me was how refined it was. No more noise than our Forester, yet a lot quicker and sportier.

    My Miata has a 6th gear, but it's not tall enough, in fact overdrive is actually shorter than the 5 speed Miata. Odd.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Mazda seems to suffer from this idea "people with manuals don't like to shift in top gear". It's really weird. I've had some mazdas, my family has had some and consistently Mazda seems to put in short top gears that provide full torque/meat at 65-80 but also deliver so-so mileage. Strange business decision. I love having a 6th gear that allows the engine to loaf along.
  • jasvicjasvic Member Posts: 18
    I see on the Subaru site that they are offering a 349/mo on Impreza WRX:

    Now through March 31, 2009 - $349 per month for 36 months with $1,599 due at lease signing. $0 security deposit. Tax, title and registration fees extra. Other leases available on other models. Cannot be combined with any other incentives.

    Two questions...

    Good deal?

    Will I actually be able to find this deal?

    Thank you!
  • kyfdxkyfdx Moderator Posts: 234,725
    Mileage allowance?

    Assuming 10K/yr, then not that great... also assuming no options...

    If you turned it into a no money down, 15K/yr lease, then you'll be over $400/mo. including tax...

    Not a bad lease program.. just nothing special..

    regards,
    kyfdx

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  • chuck68516chuck68516 Member Posts: 195
    Heuberger Motors in Colorado Springs is offering a WRX base, MSRP $26,310 for $23,500. Lease payment would be around $345 plus tax with ZERO down on a 36 month/10,000 mile lease. They only have 2 though.

    The .00280 money factor is killing the great 59% residual. That would be $110 of your payment. Forester, Legacy, Tribeca and 2 trims of the Outback would be half that.
  • jasvicjasvic Member Posts: 18
    Thank you for the replies - Don't really care about options - just want the AWD and that engine... Yeah I would assume 10K miles per year...

    Got in touch with a few local dealers yesterday - so far only heard back from one of them saying that they don't have anything in stock that meets the deal but could order one with 4-6 weeks wait.... Live in NJ so Colorado Springs doesn't do me much good but thank you anyway.

    I'd need to get that mileage up to at least 12K (probably 15K) and roll around $3,000 in negative equity from my current ride into the deal so I think it's going to be too much for me... damn... thought they were supposed to giving cars away in this economy... guess it's only SUV's and American cars...
  • chuck68516chuck68516 Member Posts: 195
    I wasn't implying you should fly to Colorado to get a WRX. I was just saying they are offering them for $23,500. Also, I meant 55% residual. 59% is on 24 months.

    Subaru has never given away the WRX. Demand is too high. You're lucky to even find any at the end of March. Usually they are all gone. With 15,000 miles and $3K of negative equity your payment would probably be $505 with sales tax. Not worth it.
  • skaswing17skaswing17 Member Posts: 6
    I am currently leasing a 2007 Impreza wagon, which I have fallen head over heels in love with :) . My 3yr lease ends Nov. 2009. I currently pay $250/mo. incl. tax, which is quite comfortable for me right now. (Lease terms: 62% Residual on $19,798 MSRP, 12K, 36Mo., $0 down, $18,886 Neog. Price, 0.00169998 Money Factor)

    I am itching for a new upgrade, a WRX Premium :blush: , and have been toying with the idea of doing so before my lease it up (only 6 mo. to go). Problem is, I'm going back to graduate school for chemistry this fall and money will not be as plentiful as it is now with a FT job. I remember in Sept.-Nov. of 08, I was looking around dealerships for options and they kept trying to sell me on the leftover 08 WRX models that were fully equipped for the $250 price range. All good and dandy, but I really liked the 09s better. So my question is...

    Can I get a deal, as close as possible to the price I have now, with a 09 WRX premium package now (in April/May) or should I just wait until I get closer to November for a better deal? :confuse:

    I know the price range sounds crazy, but last year they were desperate to get rid of the 08s and I'm hoping they'll be just as desperate this year to get the 09s off the lot in time for 10s.

    My car is very low miles (just hit 20K a few wks ago) and is very well maintained, so I don't know if I might be able to get any credit towards my new one. (And I'm assuming with the price I'm looking for, I should probably put at least put 1-2K down). But I guess it all comes down to the money factor and the residuals. Will they get better or worse closer to November? :confuse:

    Opinions, suggestions, comments?

    Thanks in advance!
  • jasvicjasvic Member Posts: 18
    :) I've always wanted to visit Colorado though!

    So the WRX is probably out of my reach... Maybe a 5 speed 2.5i...

    So I'm currently in a 1998 A4 1.8T AWD with 141,000 miles on it that I still owe $4,000 on (got it before I graduated, got a job, and fixed my credit.. had tiny payments and huge interest and now just want to be done with the darn thing)

    KBB for fair condition is $2,600... runs pretty well considering the age (had timing belt replaced around 120,000) but interior is a bit beat up so I'd be happy (and lucky) to get $2,000 for it.

    I guess I'd want to lease a basic '09 5-speed 4-door 2.5i for about 36 months with minimum due at signing... have them give me $2,000 for my car and I pay the other $2,000 at signing or have them roll it into the lease... Any idea what range a fair monthly would be on that?

    Thank you for your time and advice, much appreciated.
  • chuck68516chuck68516 Member Posts: 195
    That would definitely be a smarter way to go. The Impreza 2.5i Sedan (9JB) has a 36 month/15,000 mile residual of 61% and a money factor of .00190. Even rolling in $2K of negative equity your payment would be $260 before tax. That was based on an MSRP of $19,190 and a NET CAP of $19,000. I've seen internet pricing at $16,446 for this exact car.
  • jasvicjasvic Member Posts: 18
    Yeah that definitely sounds much more like it.. although I may be able to swing one with the premium package w/ ipod hookup and subwoofer... back on 2/12 car man posted..".00220 and 61%" for Impreza w/ premium and 15K miles per year" so assuming that's the same and using TMV MSRP / invoice as a starting point:

    MSRP: $20,839 (seems low based on the MSRP you gave for the stock?)
    Invoice: $19,701
    TMV: $20,008

    Base Cap Cost: $20,000
    Additions: $2,000 (balance on my trade if I'm lucky)
    Residual: 61% or $12,712
    Money Factor: .00220
    Term: 36 months
    Sales Tax NJ: 6%

    Monthly: $334.37 + $20.06 tax = $354.43 and $350 was my sweet spot...

    Did I do this right? Payment too high / low? What should I expect to pay at signing for fees etc..? I'm going car shopping later today and will probably try to get this deal...

    Thanks again for the help - I would have been absolutely clueless
  • chuck68516chuck68516 Member Posts: 195
    2009 Impreza Sedan Premium (9JC) manual has a residual of 60% and a money factor of .00190. The lowest MSRP I've seen is $20,810. Sale price of $19,700. Not much of a discount but there are no customer rebates. Payment works out to $359. You may be able to get a better sale price. Subaru is giving the dealer $1,000 incentive for every lease of this model.
  • jasvicjasvic Member Posts: 18
    Just got back from the dealer...

    2009 5 speed Impreza (9JC) Sedan Premium Package w/ ipod hookup and subwoofer.

    MSRP: $21,428
    Cap Cost: $20,271
    Rebate: ($1,000)

    Fees: $797.50
    Tax: $672.81 (paying at signing)
    Motor Vehicle: $250.00

    Adjusted Cap Cost: $19,271
    Due at Signing: $1,959.52
    Monthly: $239.21

    Your numbers were right on: 60% residual and .0019 money factor

    36 months, 15,000 miles per year. $300 disposition with $0.15 over mileage charge.

    The kicker - they are giving me $3,000(!!!) for my Audi and I'm just going to pay off the remaining balance of $1,000 up front (they would have rolled it in but I prefer it this way)

    One problem - they didn't have it in stock. They said they will find it for me (left them a fully refundable $500 deposit) So I'm wary of a bait and switch in which case I'll walk away, but as long as they deliver I'm going ahead with the deal!

    Just hope my credit doesn't kill the deal, they didn't run it yet but it's 650 to 700 range.... guess I'll find out Monday.

    Thanks so much the help!
  • chuck68516chuck68516 Member Posts: 195
    Nice! They are even giving you the direct to dealer $1,000. Cool.

    You'll need a credit score of 700 or higher to qualify for the top tier .00190. Good luck.
  • mattf2mattf2 Member Posts: 2
    I'm buying the 09 Impreza 5-door with navigation. Very hard to find here in the Midwest. Planning to close the deal tonight (Monday). The dealer (who I found on Edmunds) quoted me "MSRP of $24,158. Your special internet price is $21,407. Price includes all available rebates & incentives & DESTINATION FEE ($670). Price + tt&l." Using Edmunds lease calculator, I entered $21,407 + 10% tax + $321 title & reg. I entered a residual price of $14,736 (61% of MSRP - is that right?), money factor .0019, 12Kmiles/year, and got a monthly price of $289.85. Am I doing it right? Thanks for your help. :confuse:
  • jasvicjasvic Member Posts: 18
    Crap I'm boned then...

    Experian - 656
    Equifax - 679
    Transunion - 690

    Any idea what the money factor on the next tier is so they don't bump it higher than it should be?

    Thanks
  • lch77lch77 Member Posts: 53
    Matt

    Here are things that could change the rate:

    1. In post #243, Chuck wrote that 61% and .0019 are for 15,000 miles per year. If you want 12,000, I'd expect the residual to be higher. That's good for you. Check these boards to see if it's posted.

    2. The "internet" price and rebates usually apply to purchaseprice. The fine print usually says it cannot be combined with other offers (like the .00190 MF). Therefore, you might not get $21,407 as your base cap cost in the lease calculations.

    3. Different States apply the lease sales tax differently. Some add the the sales tax percentage to the cap cost and roll into the lease, as you did. Others, like here in PA, use a different percentage and add to the monthly lease price.

    Go to the incentives portion of Edmunds to see the special lease deals available to the Subaru's. Good luck.
  • randomloginrandomlogin Member Posts: 1
    I am leaning towards leasing an 09 WRX 5 door. I can take advantage of the Subaru VIP program through IMBA, and I was wondering what I could expect for a 10k/year 36 month lease. For tax, I am in Vermont, so 6%. I would be leasing though Burlington Subaru. Although I would prefer an XT Outback, I think it is going to be way to much :-P Thanks in advance for your help. PS, did I hear there might be a rebate for the sales tax on vehicles purchased/leased this year?
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