2014 Subaru Outback Lease Questions

Karen_SKaren_S Member Posts: 5,092
edited May 2015 in Subaru
For current leasing information, go to 2015 Subaru Outback Lease Questions

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Comments

  • cbass16cbass16 Member Posts: 5
    Does anybody have the August residual and money factor on a 2014 Subaru Outback 2.5i Limited with Moonroof + Nav? Thanks!
  • quantifirequantifire Member Posts: 21
    For a 2014 2.5i Limited with Moonroof, no Nav, I was quoted 57% residual, .00150 MF, for 36 months and 15K per year. In Northern California.
  • cbass16cbass16 Member Posts: 5
    Thanks. Same here in Fairfield County, CT. Just wanted to validate.
  • subadrewsubadrew Member Posts: 6
    Hi Car Man,

    Do you have mf and residuals for 2014 Outback 2.5 limited with nav, 12k and 15k?

    thanks,
    Andrew
  • kyfdxkyfdx Moderator Posts: 207,805
    2014 Outback 2.5 Limited with Nav 36mo, 15K/yr lease
    .00097 MF and 54% residual. Add 1% for 12K/yr

    regards,
    kyfdx

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  • t777t777 Member Posts: 3
    Do you have the MF and Residual for a 36mo 12k/yr lease of 2014 Outback 2.5i Premium?

    Thanks.
  • kyfdxkyfdx Moderator Posts: 207,805
    2014 Outback 2.5i Premium 36mo, 12K/yr lease
    .00057 MF and 56% residual

    regards,
    kyfdx

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  • neofightneofight Member Posts: 3
    Can someone help with lease figures for a 36 month lease, 15,000/miles/year, moonroof package. No navigation package. In the Chicago area. Being told a couple different things for both the residual and the money factor.
    Thanks.
  • kyfdxkyfdx Moderator Posts: 207,805
    2014 Subaru Outback 2.5i Limited 36mo, 15K/yr lease
    .00057 MF and 55% residual

    regards,
    kyfdx

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  • joenavyjoenavy Member Posts: 2
    What are the numbers for a 2.5 premium? Looking to get one in Maryland.
  • judson3judson3 Member Posts: 1
    I'm planning to lease a 2014 2.5i limited Subaru Outback in Northern California this month. Does anyone have the current money factor and expected residual value %? I've seen special leasing offers, but can't find the specific figures.
  • kyfdxkyfdx Moderator Posts: 207,805
    2014 Subaru Outback 2.5i Premium 36mo, 15K/yr lease
    .00057 MF and 55% residual

    regards,
    kyfdx

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  • jpbriggsjpbriggs Member Posts: 1

    Looking to possibly lease a 2014 Outback 2.5i Premium w/moonroof and camera package near Boston, MA. Wondering if lease details folks have been posting will be similar in my neck of the woods.
    Thanks!

  • kyfdxkyfdx Moderator Posts: 207,805

    The numbers given are national, as long as the dealer uses Subaru Motors Finance (aka Chase). I think some New England dealerships are serviced by a distributor, and not directly by Subaru, so that could possibly cause differences, but I don't have any direct knowledge.

    kyfdx

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  • bcampbell001bcampbell001 Member Posts: 8

    Hello kyfdx..........
    If you would be so kind as to post Chase's February MF/Resid. for a 3.6R limited, Moonroof/NAV for a 36 / 15 lease,...I would appreciate it

    Thanks!

  • kyfdxkyfdx Moderator Posts: 207,805

    @bcampbell001 said:
    Hello kyfdx..........
    If you would be so kind as to post Chase's February MF/Resid. for a 3.6R limited, Moonroof/NAV for a 36 / 15 lease,...I would appreciate it

    Thanks!

    .00079 MF and 53% residual

    For the edification of our members, Chase = Subaru Finance

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  • bcampbell001bcampbell001 Member Posts: 8

    Thanks!

  • tf71307tf71307 Member Posts: 2

    Do you have the MF and residual for a 12k and 15k, 36 month lease of a 2.5i Premium Outback for March? Thanks in advance.

  • kyfdxkyfdx Moderator Posts: 207,805

    @tf71307 said:
    Do you have the MF and residual for a 12k and 15k, 36 month lease of a 2.5i Premium Outback for March? Thanks in advance.

    .00039 MF and 54% residual for 36mo, 15K/yr lease. 55% for 12K/yr.

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  • welakwelak Member Posts: 9

    Do you have the MF and residual for a 12k 36 month lease of a 2.5i Premium Outback for March? Thanks in advance

  • MichaellMichaell ColoradoModerator Posts: 206,187

    @welak said:
    Do you have the MF and residual for a 12k 36 month lease of a 2.5i Premium Outback for March? Thanks in advance

    55% and .00039

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  • welakwelak Member Posts: 9

    thank you

  • welakwelak Member Posts: 9

    Sorry I meant to ask for the April MF and residual numbers

  • kyfdxkyfdx Moderator Posts: 207,805

    @welak said:
    Sorry I meant to ask for the April MF and residual numbers

    Those are the April numbers.... @Michaell must be psychic. ;)

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  • MichaellMichaell ColoradoModerator Posts: 206,187

    Huh .... I never saw March in the original post. Just assumed it was a request for the current month.

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  • welakwelak Member Posts: 9

    Hmm... well I went to negotiate this weekend and was given an MSRP of 50% and residual of .00060 - they even brought out both the "finance book that listed all the models and rates" as well as the lease paperwork, I guess I will wait till next month. thanks

  • kyfdxkyfdx Moderator Posts: 207,805

    @welak said:
    Hmm... well I went to negotiate this weekend and was given an MSRP of 50% and residual of .00060 - they even brought out both the "finance book that listed all the models and rates" as well as the lease paperwork, I guess I will wait till next month. thanks

    Then, they quoted you for a 42 month lease..

    Not sure how waiting until next month will solve a dealership communication problem, though.

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  • btmcgrathbtmcgrath OHIOMember Posts: 19
    edited April 2014

    @kyfdx Any quick feedback on Chase numbers for a 2014 Outback 2.5 Limited (no MR no navi) for a 36mo 12k/yr lease in Ohio? Chase/subaru have any lease money to the dealers?

  • MichaellMichaell ColoradoModerator Posts: 206,187

    @btmcgrath said:
    kyfdx Any quick feedback on Chase numbers for a 2014 Outback 2.5 Limited (no MR no navi) for a 36mo 12k/yr lease in Ohio? Chase/subaru have any lease money to the dealers?

    54% and .00039. No lease cash that I can see.

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  • Kirstie_HKirstie_H EdmundsAdministrator Posts: 11,126

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  • nkf2008nkf2008 Member Posts: 88

    Subaru's are terrible to lease, they never have any good programs. I was in a market for an Outback a year ago and it made no sense to lease a car that was MSRP of around 35k for near 500$ a month plus tax.... stay away from leasing Subaru. just my opinion. good luck

  • btmcgrathbtmcgrath OHIOMember Posts: 19
    edited April 2014

    @[email protected] ... I am getting pushback from the dealer and he is quoting .00079 for the Limited MF and the .00039 MF is on the Premium trim. I am in SW Ohio. Can you confirm either way.

  • MichaellMichaell ColoradoModerator Posts: 206,187

    @btmcgrath said:
    [email protected] ... I am getting pushback from the dealer and he is quoting .00079 for the Limited MF and the .00039 MF is on the Premium trim. I am in SW Ohio. Can you confirm either way.

    Both of those MF's are correct for 36 month leases.

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  • meowcowmeowcow Member Posts: 1
    edited June 2014

    Does anyone know what the June MF and residual are for a 2014 Outback 2.5 Limited 12K/mile 36 months? I'm in Ala. Thanks in advance!

  • kyfdxkyfdx Moderator Posts: 207,805

    @meowcow said:
    Does anyone know what the June MF and residual are for a 2014 Outback 2.5 Limited 12K/mile 36 months? I'm in Ala. Thanks in advance!

    .00061 MF and 53% residual.

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  • njsporstsfannjsporstsfan Member Posts: 2

    do you have the MF and residual for the 2014 2.5 Premium with 15k a year for 36 months? thanks

  • MichaellMichaell ColoradoModerator Posts: 206,187

    @njsporstsfan said:
    do you have the MF and residual for the 2014 2.5 Premium with 15k a year for 36 months? thanks

    .00039 and either 51% (manual) or 53% (all others).

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  • deuce233deuce233 Member Posts: 1

    Do you have the MF & Residual for Subaru Outback 2.5i premium? 15K/36mo lease in NY. Are the numbers out for the 2015 model as well?

  • quantum_matrixquantum_matrix Member Posts: 9
    edited July 2014

    @[email protected], can you help to verify July numbers for 2014 Subaru Outback 2.5 premium? I live in Texas. A dealer here quoted me MF 0.00127 and told me that's the best he can do. This is correct? I saw .00039 MF in previous posts. Are these numbers nation wide or differs by region? Thanks!

  • rossmrrossmr Member Posts: 13
    Subaru leases are for the most part Chase. When you see three zeroes on the right of the decimal point that almost certainly means chase is quoting the money factor on a monthly basis vs. yearly for most other lessors. Highly misleading. I was pitched a 3 year Mazda lease (also Chase) with a money factor of .00029 with a residual and a 57% residual 10K per year. You normally multiply the money factor by 2400 to get the APR - in this case, .696%. I pay cash for cars but this seemed like a great deal till they told me what the payment was. Way too high for the residual and the money factor. When I calculated the payment using the .00029 money factor quoted x 12 months it came within a dollar of the payment quoted. That meant an APR of 8.4% - pretty awful for tier one credit and terrible deal when I get less than 1% on savings.
  • kyfdxkyfdx Moderator Posts: 207,805
    rossmr said:

    Subaru leases are for the most part Chase. When you see three zeroes on the right of the decimal point that almost certainly means chase is quoting the money factor on a monthly basis vs. yearly for most other lessors. Highly misleading. I was pitched a 3 year Mazda lease (also Chase) with a money factor of .00029 with a residual and a 57% residual 10K per year. You normally multiply the money factor by 2400 to get the APR - in this case, .696%. I pay cash for cars but this seemed like a great deal till they told me what the payment was. Way too high for the residual and the money factor. When I calculated the payment using the .00029 money factor quoted x 12 months it came within a dollar of the payment quoted. That meant an APR of 8.4% - pretty awful for tier one credit and terrible deal when I get less than 1% on savings.


    That's not an accurate representation of how money factors work.

    .00029 is equivalent to an APR of 0.696% (with the A in APR meaning annual)

    Calculating a lease is very simple. (and, most all banks use money factors that start with a decimal point followed by at least two zeroes).

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  • rossmrrossmr Member Posts: 13
    That is what I thought after everything I read. When they quoted me .00029 which as you say equates to .696 APR, I thought I had a great deal. The payment was way higher than what I thought it should be. At .696 APR the interest is negligible and the payment should have been close to the cap cost less residual divided by the lease term - it was much much higher. I had a hunch the money factor quoted was on a monthly basis. I have a degree in Finance and did lease vs buy calculations for a Fortune 100 Company for several years. I did an Internal Rate of Return calculation on the cash flows (negative cash flow is the cap cost, positive cash flows are the lease payments and the residual values), it was around 8.4%. I then used an on line lease calculator, when I used the .00029 money factor the payment and the payment was way way lower than what I was quoted. When I used a money factor of .00348 (.00029*12), the payment came out to within pennies of what I was quoted. The Finance guy said I was wrong, I went over the calculations and he agreed I was right. I paid cash for the car. As you say the money factors will have zeroes to the right of the decimal point - however the difference between 2 and three zeroes is an order of magnitude. Yeah, if everyone plays by the rules, leases can be simple. Money factor and residual are the drivers to comparison shop. If Chase quotes money factor on a monthly basis and doesn't tell you while others quote on an annual basis - unless you check the payment amount using IRR or NPV with EXCEL or an online payment calculator, you can be cheated. I've put in a complaint to CFPB.

    The other reinforced lesson - if .00029*2400 = .696 APR from a money center bank is too good to be true, it is.
  • kyfdxkyfdx Moderator Posts: 207,805
    I'll say it again.. you are mistaken.

    And, this is just a supposition on my part... but, you are probably assuming that the only amount you are borrowing is the depreciation portion of the lease. But, in fact, the finance charges apply to an average of the CAP cost and the residual amount.

    Example: 36 month lease with CAP cost of $30,000, residual of $15,000 and money factor of .00029.

    $30,000 CAP cost
    $15,000 Residual

    Depreciation = $15,000 / 36 months = $416.66 monthly depreciation
    Monthly Finance = ($30K + $15K) X .00029 = $13.05 monthly finance charge

    Monthly depreciation plus monthly finance = $429.71 total monthly payment.

    Total finance charges = $13.05 X 36 = $469.80.

    The average amount subject to finance charges over the 36 months is $22,500 (an average of the CAP cost and the residual) You borrow the CAP cost to start and end up owing the residual, which is of course paid off by returning the vehicle.

    So.... you borrow $22,500 (on average) for a period of 3 years and your total finance charges are just $469.80. That's an APR of around 0.7%... no matter how you slice it..

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  • rossmrrossmr Member Posts: 13
    KYFDX,
    Appreciate your time, patience and expertise.

    I would have been happy if the dealer calculated it the way you did. They didn't, this is off the deal sheet:
    MSRP 33120
    Sale Price 30549
    Trade In 4999
    Rebate 375
    Processing Fee 391
    Money Factor .00029
    Residual Value 57%
    Mileage 10K per year
    Term 36 months
    Sales Tax 0
    Monthly Payment 349

    The deal sheet payment is way high by your calculations a shown below.

    Cap cost = 30549-4999-375+391 = 25565
    Residual = 33120*.57 = 18878
    Monthly Depreciation Charge = (25565-18878)/36 = 186
    Monthly Finance Charge = (25565+18878)/2*.0029 = 6.44
    Total Payment = 186+6 = 194

    When I input the deal sheet numbers into the online calculator at lease guide dot com (no spaces) but use a money factor of .00029*12 or .00348 the monthly payment comes to within a couple bucks of what is on the deal sheet. That is why I am convinced Chase is quoting the money factor on a monthly basis vs annual. The .00029 lease factor annual percentage rate equivalent of .696% doesn't pass the smell test. Unless heavily subsidized by the manufacturer, Chase isn't about to loan money out for 3 years at less than one per cent.

    Looking forward to your critique.
  • MichaellMichaell ColoradoModerator Posts: 206,187
    rossmr said:

    KYFDX,
    Appreciate your time, patience and expertise.

    I would have been happy if the dealer calculated it the way you did. They didn't, this is off the deal sheet:
    MSRP 33120
    Sale Price 30549
    Trade In 4999
    Rebate 375
    Processing Fee 391
    Money Factor .00029
    Residual Value 57%
    Mileage 10K per year
    Term 36 months
    Sales Tax 0
    Monthly Payment 349

    The deal sheet payment is way high by your calculations a shown below.

    Cap cost = 30549-4999-375+391 = 25565
    Residual = 33120*.57 = 18878
    Monthly Depreciation Charge = (25565-18878)/36 = 186
    Monthly Finance Charge = (25565+18878)/2*.0029 = 6.44
    Total Payment = 186+6 = 194

    When I input the deal sheet numbers into the online calculator at lease guide dot com (no spaces) but use a money factor of .00029*12 or .00348 the monthly payment comes to within a couple bucks of what is on the deal sheet. That is why I am convinced Chase is quoting the money factor on a monthly basis vs annual. The .00029 lease factor annual percentage rate equivalent of .696% doesn't pass the smell test. Unless heavily subsidized by the manufacturer, Chase isn't about to loan money out for 3 years at less than one per cent.

    Looking forward to your critique.

    I'll let my co-host address the issues raised in your post, but I can tell you that many manufacturers have lease money factors much lower than those quoted by Subaru/Chase.

    Mazda has MF on some models as low as .00001 (.02%); Nissan .00003 (.07%).

    How is this any different than the 0% financing offered on a purchase? I assume that the bank is making money somewhere, else they wouldn't offer these rates.

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  • kyfdxkyfdx Moderator Posts: 207,805
    rossmr said:

    KYFDX,
    Appreciate your time, patience and expertise.

    I would have been happy if the dealer calculated it the way you did. They didn't, this is off the deal sheet:
    MSRP 33120
    Sale Price 30549
    Trade In 4999
    Rebate 375
    Processing Fee 391
    Money Factor .00029
    Residual Value 57%
    Mileage 10K per year
    Term 36 months
    Sales Tax 0
    Monthly Payment 349

    The deal sheet payment is way high by your calculations a shown below.

    Cap cost = 30549-4999-375+391 = 25565
    Residual = 33120*.57 = 18878
    Monthly Depreciation Charge = (25565-18878)/36 = 186
    Monthly Finance Charge = (25565+18878)/2*.0029 = 6.44
    Total Payment = 186+6 = 194

    When I input the deal sheet numbers into the online calculator at lease guide dot com (no spaces) but use a money factor of .00029*12 or .00348 the monthly payment comes to within a couple bucks of what is on the deal sheet. That is why I am convinced Chase is quoting the money factor on a monthly basis vs annual. The .00029 lease factor annual percentage rate equivalent of .696% doesn't pass the smell test. Unless heavily subsidized by the manufacturer, Chase isn't about to loan money out for 3 years at less than one per cent.

    Looking forward to your critique.


    Couple of things..

    1) You don't take the sum of CAP + residual and then divide by 2.. The money factor takes that into account already.. (otherwise, you'd multiply by 1200 to get an equivalent APR, not 2400). Otherwise, your calculations are very good. ($12.88 instead of $6.44).

    2) Chase isn't in this deal, solely on their own. They are DBA Subaru Finance, and the manufacturer subsidizes those rates. You are correct, Chase wouldn't finance you for 0.7% APR, but Subaru buys their normal rate down.

    3) You can calculate a lease payment on a napkin, or a simple Excel spreadsheet. On-line lease calculators will assume and input some standard numbers that may or may not exist on the actual deal. It's a very simple formula

    4) Getting back to your example.. I see $4999 for a trade-in, but I don't see any other cash in the deal. 1st payment? Tax? $595 acquisition fee? Title/license fees? Dealer fee? If you start pulling a couple of thousand in upfront costs out of your trade-in value, then the payment is going to jump, accordingly. Also.. your dealer may have marked up that money factor for extra profit and didn't disclose it. Dealers will try to screw you in the finance office on a lease, just like on a purchase.

    5) Also... the multiply by 2400 thing isn't a marketing tool.. it's just based on math.
    You start with a money factor, and you want to convert it to an APR. The money factor is used to calculate monthly finance charges.. so, if you want an Annual charge, you multiply by 12. Then, APRs are fractions 8% is really .08.. So, to convert the fraction to a percentage, you multiply by 100. Then (and, this refers back to #1), since you added the CAP cost and residual together, but you don't divide by 2 to get the average, multiply by 2.

    12 X 100 X 2 = 2400.


    To reiterate... just because this dealer tried to put one over on you, doesn't mean the math we give is incorrect. I've negotiated many, many lease deals that agree with my calculations to the penny. Except for one small mistake, you were able to do the same, yourself. It works. Beware of the F&I office..

    regards

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  • rossmrrossmr Member Posts: 13
    Michaell -
    Thanks for your response.

    Yes, manufacturers will subsidize lease and loan rates to 'move iron'. You will see these incentives on sites such as Edmunds and the lessors/lenders will make their money "somewhere" through such a subsidy.

    The APR or money factor will reflect that subsidy. So the payment calculated on the APR or money factor should = what is on the deal sheet. In the case I am citing the money factor quoted by Chase needs to be multiplied by 12 to yield the quoted monthly payment. I am therefore convinced Chase is quoting a money factor on a monthly basis vs yearly that is industry standard.

    You mentioned Mazda as having a low money factor, both Mazda and Subaru use Chase for their leases. Nissan has an in-house financing arm so I can't say without researching their specific leases as to their practices on whether they quote money factor on a monthly or annual basis. In any case, low money factor can be due to manufacturer subsidy. Again, the subsidy will be reflected in the money factor or APR.


  • PF_FlyerPF_Flyer Pennsylvania Furnace, PAMember Posts: 9,372
    For current leasing information, go to 2015 Subaru Outback Lease Questions

    For current Pricing information, go to 2015 Subaru Outback Prices Paid
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