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2013 and earlier-Subaru Outback Lease Questions
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I am looking for a good deal on a 36 month lease with 12k/year. I wanted a 2009 but they seem to be all gone since the 2010s are coming in now. I was just quoted the following for a 2010 Ouback 2.5 ( incld auto-dimm mirror/compass ,bluetooth,rear bumper cover and all weather floor mats).
MSRP: 27593
Selling price: 26629
Res: 56%
MF: 0.00220
How does this deal sound? Do you think it's likely that deals will get better in September and I should wait until then to make a deal? Also, you mentioned something in a previous post about Subaru providing a little bit of lease support for the 2010 ouback. Where can I get more details on this?
Thanks!
The money factor that you were quoted is right in line with Subaru's August buy rate lease money factor for this model. That's always a good thing.
Let's take a look at its selling price. The Outback that you are interested in probably has a spread of around $1,650 between its full MSRP and its dealer invoice price. You were quoted a dealer discount of $964. That probably puts you at around $700 over dealer invoice, which isn't bad.
Car_man
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I have a loaded 2010 Outback 3.6R Ltd (ADK + nav/moonroof) on order through my dealer, using the VIP Program, meaning that I can lease it also using the invoice as the capitalized cost. Invoice is $33, 635 from an MSRP of $36,781.
Delivery is expected in late Sept or early Oct. and I'm trying to decide if I should buy vs. lease, and would like to walk back into the dealer already educated on my options.
Can you quote the known Sept. money factor and residual for this? I'm considering 36 or 39 months and 10 or 12k miles/year.
Also, please refresh my memory -- is residual calculated from the MSRP regardless of capitalized cost? I.E., I'd multiply $36781 x whatever residual you quote, right?
Thanks in advance for any assistance! Much appreciated!
Elliot
Another option is to see whether cheaper by return yours (no buy-out) and buy one from the dealer about more or less of yours, then get a used car loan.
If you like to try out other model you can check the short term lease site(s) that people try to get off the lease before lease end.
www.leasetrader.com
www.swaplease.com
Do you think the lease could be better? I refuse to spend more than $400 a month for 25K car with good residual value.
The agreed price was about $500 above invoice. The dealer wouldn't budge below that because the Limited w/ nav are in short supply and he had to buy from another dealer. He claimed that the other dealer gets the holdback and so he couldn't be any more flexible.
I think the MF was 0.00196.
People need to realize that, when broken down to a simple level, leasing is no more than financing the depreciation of the vehicle during the period that you are leasing it. Aside from upfront and termination fees, all leases can be calculated based on the negotiated price (capitalized cost), residual value, and money factor (interest rate, multiply x 2400).
The only way to get a killer lease is if the manufacturer artificially subsidized the lease such that they are overrating the residual value beyond what it would really be worth at termination (making it impractical to buy at termination) or to add incentives to reduce the capitalized cost.
Since there are ZERO incentives on the Outback, one shouldn't be surprised that the leases are only fair but not great. This is helped in part that Subarus hold their value and are being rated around 52 - 55% for residual value right now. That number could actually go up in the coming months as reliability and popularity data becomes available, which would make the leases somewhat cheaper.
Elliot
Last week Subaru were advertising a special on the base model which required the dealer to "contribute" (i.e. discount) about $1500 but they don't seem to be advertising that any more.
Aside from that the only thing you can really negotiate is the price, and you should be able to get something reasonably close (within a few hundred bucks) to invoice price providing there is good supply. A dishonest dealer could inflate the monthly amounts beyond the standard Subaru lease by padding things. It's important to look at the MSRP, negotiated price, residual value (which is a percentage of MSRP, as defined by Subaru finance) and money factor and make sure nothing has been added. If something smells wrong you should double-check using lease calculators available on the web.
I didn't have to work hard to get this deal - I just asked for a discount and that is basically what they gave me. They were pretty reasonable and open and honest, so I would recommend them from that point of view. The dealer was Rye Ford Subaru in Rye, NY.
If you were to lease with only 10,000 miles per year, the above residual values would be 1% higher.
You are correct, vehicles dollar residual values are calculated by taking a percentage of their full MSRPs, including any options that can be residualized and the destination charge.
Car_man
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Car_man
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Yes, I was able to use the VIP program which is an employee benefit through my wife's company. It made it easy to avoid haggling, but I've been reading plenty of posts where people are buying Outbacks for $200 - $500 UNDER invoice without the VIP Program, so ya never know...
Anyway, I have one other quick question. At this time, I am leaning towards buying instead of leasing. Here in the Mid-Atlantic region, we have 3.9% financing up to 63 months for the Outback, IIRC.
I am scheduled to take delivery on Oct 3 if my Outback shows up on time, and my dealer says he is highly confident that the 3.9% rate will roll over into October without interruption. I thought that monthly incentives usually aren't announced until the 4th or 5th of each month, but he reiterated I should be fine with the 3.9% on October 3.
Would you care to comment on that as a second opinion? Any additional insight on Chase/Subaru rates for October?
Thanks in advance for any advice!!
Elliot
Carman - do you have the new MFs and Residuals for October yet?
I'm looking for Outback 2.5 Limited for 36 months at either 12k or 15k per year. Can you provide these numbers?
Thanks,
chris
Do you know the lease numbers on the 2010 Subaru Outback 2.5i Premium, 36 moths, 10,000 miles per year? Also, if you can provide the 3.6R base that would be great. Thanks.
Can you please provide the October lease numbers for a 2010 Subaru Outback 3.6R (base) with 36 months/ 10Kper year? Thanks.
Also, can you provide the numbers for 36/10K Outback 2.5i Premium? Thanks.
Can you please provide the lease numbers for a 2010 Subaru Outback 3.6R? 36 months, 10K per year. Thanks.
All I want for my birthday today is the numbers for a 24 and 36 month lease of a 2010 Subaru Outback 2.5i Premium and a 2010 Subaru Outback 3.6R base, both with 10,000 miles per year. Thanks.
Way out of warranty plus this deal is very strange. Sounds bogus.
While manufacturers usually do not officially tell dealers beforehand what the next month's programs will be like, generally speaking offers tend to get better as the model year progresses, not worse. The dealer was making an educated guess that the 3.9% rate would be available in October...and they were right.
Car_man
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Car_man
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The numbers for an otherwise identical lease of a base 2010 Outback 3.6R are .00190 and 56%.
Car_man
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The numbers for an otherwise identical lease of a '10 Outback 2.5i Premium are .00190 and 55%.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The numbers for an otherwise identical lease of a 2010 Outback 2.5i Premium are .00190 and 54%.
Car_man
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2.5 Drive off $838.11
payment $398.51+tax
3.6R Drive off $911.75
payment $434.62+tax
Thanks in advance, would appreciate any input.
I'm in discussions with a dealership in NJ on a 36 month 15k/yr lease of a '10 Outback Ltd.
Extras include moonroof, autodim/homelink mirror, media hub, wheel arch moldings, and wheel locks. Total MSRP is $31090.
With only first payment at inception, I've been offered $495.24/mo.
Cap Cost: 28966
Tags and Fees: 489
MF: .00190
Residual: 53%
Tax (7%) in NJ: 1012.79
These #s don't compute for me; something seems off. Given Tax and Tags (as cited) divided over 36 months = 41.72, that would mean (at least by subtracting the provided monthly payment and the tax/tags) that depreciation+finance = 453.52.
When I use the numbers provided and compute depreciation (cap-resid/term) and finance fee (cap+resid/mf) I get 346.90 and 86.34 respectively for a sum total of 433.24.....some $20 higher per month applying the math from the top down.
anyone have any thoughts on this? Does chase subaru finance work some other voodoo into their calculation?
Another question which I've never been able to find an answer to - how is car lease tax computed in nj? at 7% i cannot for the life of me determine the number being used as the tax basis (at least not as a function of msrp, depreication, residual, cap cost).
Looking to take delivery this week. Any guidance or thoughts most appreciated.
Thank you, Chris
But he's right, these are selling well so there are few incentives to make a bargain lease.
Invoice price of $27,118
Residual: 54%
money factor: .00170
$1399 drive off and monthly of $389.55 + tax = $427.53
Almost $80 better than I was quoted 6 weeks ago, so feel like dealers are starting to give a bit. Would greatly appreciate thoughts on this deal, as well as others' experiences. Trying to negotiate down to $500 under invoice, but I'm liking the deal.
John
I'd aim for 10% below the invoice cost of a new one for a program car. Unless it has less than 1000 miles or something.
Subaru's current money factor and residual value for a 36 month lease of a base 2010 Outback 2.5 with 15,000 miles per year are .00155 and 53%, respectively.
The numbers for an otherwise identical 42 month lease are .00160 and 48%.
Car_man
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A large number of leases have residuals that are unrealistic in todays market, the problem is the lease company is not interested to drop your price, that reflects on actual resale prices - its typically a different pocket if they take a bath when selling at auction.
Don't know who your lease Co is, but I got the same approach with every lease end in the last few years.
State Tax and DMV fees are unavoidable.
Roos tend to hold their resale price well, so check out the local market for used ones with same spec and miles and decide what a known condition car is worth to you.