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2013 and earlier-Subaru Forester Lease Questions

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Comments

  • Hi milzo. Subaru is not currently providing any cash incentives on leases of the 2009 Forester. As a result, dealer invoice is a very attractive selling price on a leased Forester right now. I highly doubt that you will be able to get one for $1,000 under invoice.

    I would be happy to work up a lease payment on this vehicle for you to double check the dealer's calculations, however I cannot do so without knowing its full MSRP. Let me know what this number is and I'll run a payment for you.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks for taking the time to share the details of your lease, Mplsman. Make sure to stop back and let us know how you like your new Forester. I'm thinking about getting one for my next ride myself. It is a great value. Where else can one get a useful, AWD vehicle for less than $300 per month?

    If you'd like after you take delivery you can stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on the experience with others.

    Enjoy your new ride :shades: !

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Eric. Do you know this vehicle's MSRP or dealer invoice price? I ask because comparing the selling price that you were quoted to either of those numbers is the best way to see if there is any room left to negotiate on this deal. You can look these prices for this exact model as you want it equipped over in the New Vehicle Pricing section of Edmunds.com. Let us know what they are and I'm sure that either myself or another helpful community member will gladly give you their opinion.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey Eric. I should have scrolled down before replying to your previous post. Dealer invoice is about as good as it is going to get on a leased 2009 Forester right now. The money factor that you were quoted looks great, too. If you like the vehicle, I personally don't see any reason not to pull the trigger on this deal.

    You definitely should not make a down payment on your lease. Gap insurance only covers the difference between what your insurance company is willing to pay for your vehicle if it is totaled and what you owe the bank that you are leasing it through. Consumers who make large cap cost reductions when leasing risk losing them if their vehicle is totaled.

    It definitely does not make sense to get LoJack on a leased vehicle, unless your insurance company provides you enough of a discount on your premium to pay for it. I personally would rather not get my car back if it is stolen. If your stolen vehicle is recovered, it likely will be pretty messed up. I would rather let the insurance company chalk my ride up as a loss and get something new than have to deal with repairing my old car.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • milzomilzo Posts: 8
    Car Man,

    Thanks for the reply, I ended up buying the forester with the options i have listed instead of lease. I sent an e-mail to 5 dealers with the exact options and color i wanted (what I listed eariler) and told them getting the best price was my hot button. I ended up getting it for about $600 under invoice. With the 4.99% financing the payment was only $120/mo more than the best lease price I could get and at the end of 3 years I will owe $12k versus the $16 buy-out on the lease. I posted the details of my purchase in the prices paid forum on here if anyone wants to see the details.
  • CAR MAN,

    You quoted the last guy on a 2009 Forester 2.5X Premium, 36 month, 15,000 miles per year as 0.00175 and 60%.

    What is the residual on a 10,000 mile per year lease of this same vehicle? Also, what is the Subaru acquisition fee?

    Thanks.
  • Car_Man,

    I would also like the current lease numbers for the 2009 Forester 2.5X on a 36 month, 10,000 miles per year lease. Also, are the numbers different per trim level on the Forester. Base, Premium, Limited? Thanks.
  • stoopystoopy Posts: 105
    I would like the newest numbers on a 2009 Forester 2.5X Limited. 10,000 miles on both the 24 and 36 month leases. Thanks CarMan.
  • stoopystoopy Posts: 105
    Car Man are you out there?
  • You're very welcome, milzo. Thanks for stopping back and letting us all know how everything turned out. If you'd like, you can also hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride :shades: !

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi chuck68516. For 36 month leases, Subaru's 10,000 mile per year residual value is 2% higher than its 15k residual.

    Subaru actually runs its lease program through Chase right now. I believe that Chase's current base acquisition fee is $595.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Here's the information that you're looking for, djhalptert. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Forester 2.5X with 10,000 miles per year are .00150 and 60%, respectively. The numbers for an otherwise identical lease of an '09 Forester 2.5X Limited are .00160 and 60%. The numbers for an '09 2.5X Premium are .00160 and 61%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi stoopy. Don't bother going with a 24 month lease. Subaru is not providing any support on 2 year leases right now. Leasing one for that short a term will provide you with a significantly higher payment than a 3 year lease will.

    Its 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 .00160 and 60%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Can you please give me the lease money factor and residual value for a 2009 XT Limited? I am looking for 36 months and 15K miles per year.
  • stoopystoopy Posts: 105
    What were the 24 month lease numbers? I still would like to know if it makes any sense. Thanks.
  • Hi Car_man

    TMV shows a deal at subaru on a lease of a 2009 2.5XLT Limited w/VDC with no navi

    msrp 28,890, 10k miles/yr, 595 acqui fee, 1000 dealer incentive, cap reduc down pymnt $1,150, 36 months at $308 b4 taxes. At $28,890 msrp, it looks like it is the $28,195 base plus $695 utility pkge.

    i went to the dealer today and they said that was one of the deals in the national program. I also found out the following - it's based on a residual of 60% and mf of .0016. Oh also, it conveniently doesn't include destination fee of $665 (which would raise the monthly lease payment from $308 to $317).

    I like the car, but am interested in a $12k mile lease and no utility pkge. The sales guy said the residual would drop by 1% to 59% for moving from 10k to 12k miles/yr.

    Also, I don't want to put the $1,150 down and also don't want to work from msrp minus 1,000 dlr incentive. I assume even though this is a national program, i can negotiate the lease - right? This kind of slipped my mind in the showroom until the guy said he would take care of the last payment of my current lease.

    so i left and went home to do some more homework. TMV shows invoice at $26,384 and that others are paying $26,639 so $255 over invoice.

    i recalculated the lease numbers based a no utility pkge car with msrp $28,195, 12k miles/yr, $595 acqui fee, $665 destination, and a $26,639 cap cost (no down payment, no dealer incentive). this results in a lease payment of $398/mo b4 tax.

    a few questions:
    - am i correct on the above statement/numbers
    - is the dealer incentive of 1,000 only available if i do the national program and work from msrp or should i expect that i should offer $26,639 minus $1,000.
    - should i come in lower then $26,639. edmunds shows subaru holdback of 3% of msrp (might vary in northeast - where i live). 3% of msrp is $845.

    guidance appreciated
    thanks
  • car man

    found a few errors in my post so i fixed and reposted

    TMV shows a deal at subaru on a lease of a 2009 2.5XLT Limited w/VDC with no navi

    msrp 28,890, 10k miles/yr, 595 acqui fee, 1000 dealer incentive, cap reduc down pymnt $1,150, cap cost $27,335, 36 months at $349 b4 taxes. At $28,890 msrp, it looks like it is the $28,195 base plus $695 utility pkge.

    i went to the dealer today and they said that was one of the deals in the national program. I also found out the following - it's based on a residual of 60% and mf of .0016. Oh also, it conveniently doesn't include destination fee of $665 (which would raise the monthly lease payment from $349 to $358).

    I like the car, but am interested in a 12k mile lease and no utility pkge. The sales guy said the residual would drop by 1% to 59% for moving from 10k to 12k miles/yr.

    Also, I don't want to put the $1,150 down and also don't want to work from msrp minus 1,000 dlr incentive. I assume even though this is a national program, i can negotiate the lease - right? This kind of slipped my mind in the showroom until the guy said he would take care of the last payment of my current lease.

    so i left and went home to do some more homework. for a no utility package 2.5xlt limited, TMV shows msrp $28,195 invoice at $26,384 and that others are paying $26,639 so seems to be $255 over invoice.

    i recalculated the lease numbers based a no utility pkge car with msrp $28,195, 12k miles/yr, $595 acqui fee, $665 destination, 36 mo., 59% residual and a $27,899 cap cost (no down payment, no dealer incentive). this results in a lease payment of $374/mo b4 tax.

    a few questions:
    - am i correct on the above statement/numbers
    - is the dealer incentive of $1,000 only available if i do the national program and work from msrp or should i expect that i should offer $26,639 minus $1,000.
    - should i come in lower then $26,639. edmunds shows subaru holdback of 3% of msrp (might vary in northeast - where i live). 3% of msrp is $845.
    - also where does excise tax fit in with the monthly payment
    - what else should i be thinking about.

    guidance appreciated
    thanks
  • First of all, I've been getting quotes of $300 to $500 under invoice plus any rebates on every Subaru model I've looked at.

    My second thought on your post is WHAT IS THE UTILITY PACKAGE? Never heard of it, never seen it, never seen it at Subaru.com. The only $695 cost on any/all window stickers I've seen was the Destination Charge. Since June 08 it went up from $665 to $695. I think you may be confusing those numbers.
  • thank you for clarifying the $695. this seems to make more sense.

    the salesguy had told me $28,890 didn't include destination (hmmm). So I assumed if that was the case - in order to get to $28,890 from $28,195, it had to include an option. On Edmunds, if you choose the forester w/ 28,195 msrp and then click options, it's lists a utility package for $695. here is how it is listed.

    F9V Utility Package
    Includes aero cross bars, wheel arch moldings, rear bumper cover and splash guards INCLUDES U9B and Q9L and P9J and P9A.

    That said, I still think you are right.

    On your first point - I didn't even consider under invoice. Invoice on edmunds shows $26,384. Based on $500 under, this would make a 12k, 36 mo lease, 59% resid, .0016MF and 26,979 cap cost, a monthly of $332 b4 tax. Seems like a pretty good deal.

    i have a few questions
    - you mentioned "plus any rebates". I am not aware of any - are you? There is the $1,000 dealer incentive, but if i am asking for $500 under invoice, would that apply on top of it?
    - is $500 under invoice dipping into the holdback or something else?

    The only other issues i am running into is of all the 2.5 XLT's listed on dealer websites in massachusetts, none are $28,890 since most have a few add ins. I guess if i can get it for under invoice, i am not too concerned with a few adds ins breaking my budget.

    The other issue is, looking at the inventory, there is a limited supply it seems of the 2.5XLT. most dealers list between zero and four of them.There are a ton of the 2.5XL's. Since the supply is low, do you think this will limit my ability to get $500 under invoice? Is the answer any different if they don't have one on the lot and need to get from another dealer. certainly, i have a number of subaru dealers around me so i probably will go to the one with cars on the lot.

    thanks in advance for your responses on the various questions above.
  • I'm not sure why a dealer would ever quote you MSRP without Destination Charge. The base MSRP of a 2009 Subraru Forester 2.5XT Limited is $28,890. The "Utility Package" has an MSRP of $695 also. It is rather unclear what the vehicle ACTUALLY has for options.

    Also, Edmunds definitely needs to update the changed Destination Charge. It has been $695 for over 6 months now.

    I said I was getting quotes of $300-$500 under invoice plus any rebates on several Subaru models. The only bad thing is that there are none available on the Forester. I am not even aware of the $1,000 dealer incentive you are mentioning. If there is a $1,000 dealer incentive then it would theoretically apply. Supply and demand would dictate your ability to get a good price. I haven't even seen a Forester 2.5XT at any of the dealerships I've visited. They may be more unlikely to want to deal on a vehicle that is in short supply. I would definitely look at getting the non-turbo 2.5X Limited if that was the case. It would be way cheaper MSRP wise ($2,200) and also you could easily negotiate a selling price well below invoice. You could get a 2.5X Limited with Navigation for way cheaper than a 2.5XT Limited without.
  • Here was the deal as listed on Edmunds through the incentives section.

    Leasing
    There may be other leases available. Contact a local dealer for more information.
    Start: 01/06/2009 End: 02/02/2009
    $308 Monthly Payment Calculate Other Monthly Payments
    36 Month Term
    $1150 Down Payment
    NA Security Deposit
    10000 Annual Mileage
    Restrictions Lease based on the 2009 Subaru Forester 2.5XT VDC. Dealer may contribute $1000 towards the $308 monthly special.
    Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement. Tax, tags and insurance are extra.

    I think the $1,000 is only applicable to this deal listed - on an XT (not to any Limited cars). Unless someone thinks differently.

    It seems reasonable that I would in a better negotiating position on a 2.5X Limited due to supply. While i agree with you that the savings is $2,200, on a lease basis, it's only $300 a year which is not significant enough in my mind to give up Turbo (41% * 2,200/36). Though their might be additional savings on the negotiation side to consider at the end of the day.

    I didn't test drive the 4 cylinder (plan too now), though it would seem pretty weak without the Turbo. Opinions?

    The cost of Navi is $1,800 - i think I am better off going without that and buying a Garmin.

    Another question I have - if you are getting the car for under invoice, is this digging into the holdback. or maybe other manufacturer to dealer incentives? would like to understand what might compel them to go for below invoice offer.

    I also had a prior question about excise tax. Is this included in the monthly or do I pay that separate. In my current lease, I don't pay separate excise tax - though on my lease agreement I don't see that listed anywhere. maybe it is buried somewhere?

    thanks again.
  • stoopystoopy Posts: 105
    The dealer MAY contribute $1,000 towards the $308 monthly special.
    To me this means exactly what it says. The dealer may take $1,000 off of selling price. Maybe not. Probably not. It's definitely not any kind of incentive or rebate.

    I also had a prior question about excise tax. Is this included in the monthly or do I pay that separate.
    What is excise tax? Haven't heard the term excise tax since reading about the American Revolution in high school history class. Do you mean sales tax?
  • each year you pay excise tax to the state for having a car. it's based on the value of the car - for example, excise tax is $25 per $1,000 of value. so if you have a $20k car, your excise tax is $500. if you buy the car, you get a bill from the state each year. if you lease, it is spread across your lease payments. I actually went back to a worksheet included in my lease agreement for my current car and found the excise tax. it is included in the monthly payment.

    can anyone tell me what a subaru "SOA Executive Demo" car is. Is it strictly a car used by an executive or sales manager type at the dealership. Or could it be a rental car or loaner? from some research, I know that it is not a regular demo.

    thanks
  • "SOA Executive Demo" = Demo. It's just Subaru's way of trying to make it sound better to the consumer who doesn't want to buy a used car.

    I don't know what state you are in but in most states your "excise" tax is called "property" tax. I hadn't ever heard of excise tax either. In my state, I get a bill for property tax when I renew my yearly registration. So yes to license my car for one year (plates, registration, property tax) I pay $350 to $500. I would call your DMV in the morning, if they are open on MLK Day.

    I did some math on the 2009 Subaru Forester 2.5X Limited vs. 2.5XT Limited. If you leased these vehicles at invoice price with nothing down the 2.5XT would cost you $32.71 more per month. It would also cost you an additional $8 per month in gas because you have to put premium (91 octane) fuel in the turbo models. So based on my math the 2.5XT Limited would cost you AT LEAST $40 per month more. As I said earlier, the fact that your dealer is going to have 30 2.5X Foresters and maybe 5 2.5XT's is going to greatly increase the odds of you getting an even better deal on the 2.5X. These numbers were just getting invoice price so assume you can do better on the 2.5X model anyway. Not so sure on the 2.5XT.

    The reason the dealer would sell a vehicle for under invoice = the current market.
    These vehicles have been sitting on the lots for 6 months. The 2010's are just around the corner. Most people aren't looking for new cars in this economy. Dealers are going to have to dip below invoice to move cars. My advice is to go to the highest volume dealer in your area and start making $800 under invoice offers. They will at least meet you half way.
  • stoopystoopy Posts: 105
    I did type in Massachusetts Excise Tax car lease into the Google on the internet machine and found the answer. You should try it. I also typed in SOA Executive Demo into the Google on the internet machine and found out that it is just an over worded standard demo. All other questions having nothing to do with leasing should be referred to www.google.com
  • gnnrgnnr Posts: 21
    Hola,

    Decided it's time to 'economize' as scary as these days are economically and go from 2 cars and payments/incurance to 1. I have looked around and the Forester is easily my first choice. Would love an XT Limited, but that's too pricey. Was looking to do a 2.5X Limited but then decided to compare features between it and the base 2.5XT model. After some 'soul searching' I decided I could live without leather and climate control and heated seats/mirrors/wipers :)

    Anyway, found a volume dealer local to me and he's got a 2.5XT Limited on the lot. There will be some negative equity rolled up in there, though I'm putting in some money to offset, I qualify for any of their financing or lease options.

    What would I be looking at for this car coming in at a few hundred under MSRP essentially (inc destination) - say $26700. They are throwing in some extras (sub, tweeters, extended warranty) so with my neg equity I'm good with that price. I know what the payments on traditional fin would be all up, but I am leaning lease since we turn over cars so often and haven't done a lease in over a decade.
  • Here you go, redbrd1. 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 .00160 and 60%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi gnnr. You should be able to do better than a couple hundred dollars under MSRP on a 2009 Forester right now. Subaru is not currently providing any cash incentives on it, but dealers seem to be willing to sell this model for a couple hundred dollars over dealer invoice.

    Also, if you're really trying to economize, you might want to take a look at the Forester X instead of the XT. The pick up of the X model isn't bad. It has 170 horsepower. Plus it takes regular gas instead of the premium that is recommended for the turbo. You would be able to shave a decent amount off of this vehicle's lease payment by going with the less expensive model.

    Also, you may want to consider financing the Forester that you want instead of leasing it. Subaru's lease program on the '09 Forester isn't terrible, but if you put a couple grand down you can get a very similar monthly payment by financing it for 72 months using Subaru's special 4.9% rate. If I was in the market for an '09 Forester, I personally would probably rather finance it than lease is at this time.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • gnnrgnnr Posts: 21
    Car_man

    Thanksf or the reply.

    Around here they are all going for Invoice basically. I'm rolling a bit of neg equity in (my choice).

    I'm not up for the lack of power and performance in any of the NA models.

    Unfortunately, the dealer I was working with has an over inflated sense of what their vehicles are worth, especially a dealer demo. I shoudl be seeing a 2100 mile XT demo for about 1000 - 1500 under invoice (and that's only if it's not been on the lot more than 6 months and in perfect condition) given the miles, but they feel 'that as a volume dealer we never do invoice and for 150 under invoice this demo is a 'steal''. Um, pass... it's a used car in all but name and title, and if they are getting over invoice when none of the other dealers around me are even blinking at or below invoice good luck with that.

    Honestly, I'm out on Subaru. The reps of the dealers here in NJ so far are abysmal, and the 4 I have dealt with are a joke... throw backs ot the 80s in form and all sitting on their sales laurels which are short lived, especially since the pool of buyers with will and good credit/cash is constantly shrinking. Worse part is they think everyone one is stupid and will simply lay down and roll over on a serious low ball offer on trades... way below fair trade values, their lovely closed-source whole sale numbers which are in fact quite made up and well to their advantage even though when it comes time to sell that same vehicle on the lot they will quote out from the consumer guides they won't accept on trade.

    I walked into a Nissan, a Mitsu, and a Hyundai dealer yesterday looking at their well rated and even CR recommended, CUVs and SUVs and was treated correctly and not like an idiot, they made at or above book offers on my trades, and they are dealing at or below invoice WITH incentives (national and dealer).

    So ultimately, Subaru can take a hike. I get that they have a solid vehcile in the forester, and it was my first choice, but they aren' t significantly better than some of the other cross-overs and small suvs out there and in some catagories they are matched or easily beaten depending on comparo. From what I am seeing on the local and national Subaru car forums, I'm far from an isolated case either.
  • I leased a 2009 X limited and need to go in tomorrow to sign the official lease agreement. Just so I am prepared - is there a disposition fee?

    On the lease that i am coming out of (non-subaru), there is "no" disposition fee per my lease agreement.

    If there is a disposition fee (i'll find out for sure tomorrow), I have a few questions:

    - I was given subaru owner loyalty for the lease and it saved me 1st months payment. If there is a disposition fee, is it waived for me?

    - The deal I agreeded to was $x per month and $y upfront. Neither the saleman nor the biz mnger who finalized the deal ever mentioned a disposition fee (they barely mentioned the owner loyalty until the very end). Since they told me my costs were x+y, do i have recourse?

    - Can i refuse to pay this and have them remove it? If not, I guess i could ask them to cut me a check for it or else i'll back out of the deal.

    - as a separate question, should the security deposit be waived. again, it was not part my "y" upfronts so I think there is no security dep required.

    thoughts?
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