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2013 and earlier-Subaru Impreza Lease Questions

CarMan@Edmunds[email protected] Posts: 38,515
edited January 2014 in Subaru
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Subaru Impreza. Thanks.

Car_man
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Comments

  • Hi Car man,

    I'm interested in a 2006 WRX or WRX Limited, and I'm trying to decide whether it's a better deal to lease or purchase (finance). If I were to lease, it would be 36 mos, 36,000 miles. Is Subaru giving any kind of decent support for this type of lease?

    Ben
  • Hi Ben. Subaru's current lease program on the 2006 Impreza is just so so. If you were to lease a 2006 Subaru Impreza WRX Base Sedan through its captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00230 and 58%, respectively. The numbers for an otherwise identical lease of a 2006 Impreza WRX Limited Sedan should be .00255 and 55%.

    Car_man
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  • tinycadontinycadon Posts: 287
    If I were to purchase my vehicle before the end of my lease is up would there be any additional fees and charges besides the original purchase option fee? If there is a substantial charge I have a second question. I just leased an impreza for 48 months, but the finance manager messed up the paperwork and the leasing co. wouldn't accept as is and now they want me to come in and resign the paperwork. Would I be in my rights to request a shorter lease term at this point in time, say 24 or 36 mo's instead, or am I still bound by the original contract even though the finance co. rejected the paperwork as is?
  • Hi again car man,

    What are the October lease rates for the 2006 Impreza WRX and WRX TR, for terms of 36 months, 12,000 mi.per year, and 48 months, 12,000 mi per year?

    Also, does it appear that Subaru is just pushing purchases right now (is there better support for purchase financing than for leasing these models)?

    Thanks again,

    Ben
  • Hi tinycadon. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates, even if you intend to keep your vehicle. It often turns out that it costs more purchase leased vehicles than they are worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments.

    If your lease application was never officially accepted by the bank that the dealer was trying to run it through there is a good chance that you would be able to get them to change the length of your lease. Keep in mind though that altering the length of your lease will have an impact upon its monthly payment. Shorter leases tend to have higher payments than longer leases do.

    Car_man
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  • Hi again Ben. If you were to lease a 2006 Subaru Impreza WRX Sedan through its captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00230 and 58%, respectively. The numbers for an otherwise identical 48 month lease should be .00230 and 50%.

    If you were to lease a 2006 Subaru Impreza WRX TR for 36 months, with 12,000 miles per year, its buy rate lease money factor and residual value should be .00245 and 59%. The numbers for an otherwise identical 48 month lease should be .00220 and 49%, respectively.

    As far as conventional financing go, Subaru has special rates of 1.9% for 24 months, 2.9% for 36 months, 3.9 for 48 months, and 4.9% for 60 to 72 months on the 2006 Impreza right now. These rates are a little better than Subaru's lease money factors for this car, which are equivalent to interest rates of a little over 5%.

    Car_man
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  • I have a few prices from the local Subaru dealers on a WRX TR. The best price I have been quoted so far is $23K. Does anybody plan on cross shopping the '06 Saab when it comes out? I like the looks of the Saab a bit better and with the deep discounts GM has been offering plus free maintenance for something like 2 years, the Saab version could be a relative bargain. Assuming of course that it will have the same upgrades that the WRX got this year (brakes, wheels, engine).
  • ateixeiraateixeira Posts: 72,587
    The big question mark is price. Saab has been all over the place. At first the price was way, way too high. Then, with employee pricing, it was a bargain. Now, with "value pricing", we'll have to wait and see.

    -juice
  • ggergggerg Posts: 1
    I am trying to find the money factors and residuals for leasing a WRX Sport Wagon (NOT the Limited version), for both 36 and 48 months, with 15K miles per year. Can anyone help? I'm in NC if that makes any difference. Thanks.
  • Hi ggerg. I should be able to help you out. If you were to lease a 2006 Subaru WRX Sport Wagon (not the Limited Edition) through its captive finance company right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00200 and 55%, respectively. The numbers for an otherwise identical 48 month lease should be .00230 and 46%.

    Car_man
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  • Hi Car_man,

    I am interested in leasing a 2006 WRX Sedan. (1) What are the lease money factor and residual value for 24 months/12,000 miles per year and 36 months/12,000 miles per year? (2) Are the numbers the same for the Limited model?

    Thanks
  • Hello Car_man,

    I was trying to find the leasing information currently on the 2006 wrx or wrx tr sedan. For a 36 month lease at 12,000 miles a year.

    Thank You
  • I noticed that the Subaru site doesn't have any information about leasing a 2005 new car, but is this still possible? My dealer has one on the lot and I should be able to get a really good deal on it through the VIP program. I just can't afford the payments on the total amount if I purchase it outright (just bought an '06' Forester for my wife). If it is possible, anyone know the details?
  • yoxxyyoxxy Posts: 2
    I have a small dent on the front panel of the car and estimates have said it will cost 300$ to fix. The car is otherwise in good shape and has been taken in for all of the services, tires are new, below milage etc. The lease is through Chase automotive and on numerous other threads it has said that they allow a variance in damages of a certain amount. Sometimes $500 or $1,000. What is the variance on a 2002 Subaru WRX or is it standard through all leases or Chase, or will I just be better fixing the dent myself or having Subaru do it when I turn it in.
  • Hi benji123. If you were to lease a 2006 Subaru WRX Sedan through its captive finance company right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00245 and 67%, respectively. The numbers for an otherwise identical 36 month lease should be .00215 and 57%. No, the numbers are not the same for the limited model. Its numbers would be .00255 / 63% for 24 months and .00255 / 54% for 36 months.

    Car_man
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  • Hello dmbmay98. If you were to lease a 2006 Subaru WRX Sedan through its captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00215 and 57%, respectively. The numbers for an otherwise identical lease of an '06 WRX TR Sedan should be .00235 and 57%.

    Car_man
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  • Hi jibjabjobu. Unfortunately, Subaru is not currently leasing 2005 models through its captive finance company. Most automakers have discontinued their lease support on leftover models by this point. This is because vehicles' residual values gradually fall as the model year progresses. By this late in the model year, their residual values are so low that it becomes too expensive for manufacturers to provide enough support on them to make their monthly payments reasonable. You may be able to find an independent bank that is still leasing '05 models, but you probably would be better off financing or paying cash for the 2005 model year Subaru that you are interested in. If you want to lease, go with a 2006 model.

    Car_man
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  • dassdass Posts: 1
    Hi Car_man,

    I'm trying to get a 2006 Impreza 2/5i wagon on a 2 year lease with the Subaru program.
    Subaru seems to have a deal going on this vehicle right now.
    Can you please give me the money factor and the residual value. Also is the residual value a percentage of the MSRP or the VIP price.

    Please also let me know of other fees, taxes etc. that I might need to pay every month.

    Thanks,
    dosa
  • Hi dosa. If you were to lease a 2006 Subaru Impreza 2.5i Wagon through its captive finance company right now for 2 years with 15,000 miles per, its buy rate lease money factor and residual value should be .00130 and 54%, respectively. Vehicles' residual values are always based upon a percentage of their full MSRPs, including destination charges. If you choose to lease this vehicle, at lease signing you will have to pay your first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Subaru's $595 acquisition fee, and any required state taxes or fees.

    Car_man
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  • Hi Car_man,

    Can you tell me what Subaru's money factor and residual looks like currently for a WRX Limited Wagon, 36mos/12K per year?

    Thanks
  • Here you go worcester1. If you were to lease a 2006 Subaru Impreza WRX Limited Wagon through its captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00240 and 54%, respectively.

    Car_man
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  • richardi1richardi1 Posts: 4
    Hi,

    I need a car for 2 years. I am looking to lease a Matrix, Mazda 3 hatchback, or Versa.

    I would appreciate information on a lease for that period of time and knowing what the monthly cost will be, the amount down, and what the early return penalty will be after one year.
  • Hi richar. I would be happy to give you an idea of how much it would cost to lease the cars that you are interested in right now. However, in order for me to do so it would be a big help if you would provide me with the MSRPs and approximate selling prices of the exact cars that you are interested in. Let me know and I'll do some calculations for you.

    Car_man
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  • lsplsp Posts: 1
    Car Man,

    Can you please provide the money factor and residual value numbers for a 2.5i Impreza at 24m, 36m and 48m respectively.
    Thank you
  • dmitmfdmitmf Posts: 1
    Hi, Car_man,

    My lease on '03 Impreza Wagon expires in some 6 months. The lease term is for 60K miles, but I will be returning the vehicle with no more then 45K. Does that affect the residual value of the car? And does it give me any bargaining power when I return the vehicle? I have couple small dents and scratches, that they'll probably want to charge me for.

    Thanks.
    DF
  • ateixeiraateixeira Posts: 72,587
    I don't think so, it's usually "up to" the number of miles.

    You may want to buy it, though, since that value is already set and it's low mileage.

    -juice
  • Here you go, lsp. Subaru's current buy rate lease money factor and residual value for a 24 month lease of a 2006 Impreza 2.5i Sedan with 15,000 miles per year are .00255 and 67%, respectively. This car's 36 month numbers are .00125 and 55%. Its 39 month numbers are .00120 and 53%. Last but not least, its 48 month numbers are .00080 and 46%.

    Car_man
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  • Hi dmitmf. The mileage that you have on your car at the end of your lease has no impact upon its residual value. If its lease-end purchase option price is low enough, you may want to consider buying your car though. You may even want to place a call to the bank that you are leasing it through to see if they would be willing to negotiate its purchase price with you. There's no guarantee that they will, more likely then not the won't, but it's worth a shot. Don't mention your vehicle's mileage though. The fact that it is so low makes your car a desirable one for the bank to get back. If you can get a low enough price for your car its low mileage may make it worth it to buy it. Even if you don't want to keep it, if its purchase price is well below its real-world value you can make money on it by selling it yourself or trading it in on your next car or truck. You need to be absolutely positive that you can get it for less than its current market value before you buy it though. While the bank will appreciate the fact that you are so under your mileage allowance when you turn your car in, I doubt that it will waive your excess wear and tear charges because of the low mileage.

    Car_man
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  • fin1581fin1581 Posts: 12
    If someone could help me with finding the residual and MF on a 36 month/36K lease for an Impreza 2.5 Sedan w/automatic, it would be greatly appreciated. Thanks!
  • fin1581fin1581 Posts: 12
    I am actually looking at the 2.5 Wagon now so if anyone knows the MF and RV for that instead, it would be a big help.
  • Hi fin1581. Subaru Finance's current 36 month, 12,000 mile per year buy rate lease money factor and residual value for the 2006 Subaru Impreza 2.5 Wagon are .00095 and 52%, respectively. When negotiating your lease on this vehicle, keep in mind that Subaru is currently providing $1,250 lease cash on it. This cash will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • ws01ws01 Posts: 11
    Are you sure it's correct - I don't see this offer on Subaru's website.
    Could you confirm?
    ws
  • superman5superman5 Posts: 154
    hello i got a quote for base 5dr model for $18,289, b4 tax, i am looking into 36 months lease, what is the residueal/MF? Thank you.
  • Hi ws01. What part of this car's lease program are you unsure about? The lease cash? I don't believe that Subaru advertised the lease cash that it provides on select vehicles to the general public, but trust me it exists.

    Car_man
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  • Hi superman5. Subaru Auto Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Impreza 2.5i Sedan with 15,000 miles per year are .00220 and 64%, respectively. When negotiating your lease on this car, make sure to keep in mind that Subaru is currently providing $650 lease cash on it. This cash will help you to negotiate an attractive capitalized cost. I made some assumptions about the model and mileage allowance that you want. Let me know if you want info for a different trim level or mileage.

    Car_man
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  • riposteriposte Posts: 160
    Hi Car man -

    It's nice that you take the time to help everyone with the payment info and all that, but why do you always say "right now" in you postings? It seems like such a pushy sales tactic...I always imagine myself sitting across a desk from you, and you using that "right now" term to push me into signing a contract immediately.

    Anyway, since you're helping out here, and not selling anything, why the "right now"?

    Just curious; I don't intend this as a flame or anything.
  • Hi Carman,

    I just received a quote for an STI and wanted to know if this is a good deal or not. It is a 42 month lease 12K a year, the cost of the car is $32,323 requires $1,382.37 down and my monthly payment will be $488.62. This seems a little high.

    The purchase price is
    60 month loan at 4.9% with $0 down
    $666.60 a month
    $32,323 (price of car)
    $45.00 (doc fee)
    $2,670.36 (taxes based on 8.25%) could be more or less deppending on where you live
    $35,038 (sub total)
    $290 (license and smog fees)
    $8.75 (gov fees)
    $4,658.89 (finance charge)
    $39,996 (total)

    Now I currently am leasing and the pay off on my car is $27K but the trade in value is $30K. Can I have them cut me a check for the 3K?
  • Hello all, I am new to this board and I have a question. I am currently leasing a '06 Impreza 2.5i and I wanna upgrade to the WRX. I am approximately 6,000 in negative equity because of the mileage. Another dealership has offered me 21,900 for the '06 WRX. I am going to lease again but I'm unsure what my payments monthly will be. I'm willing to put down possibly half that negative equity but will that get my payments down to around $400 a month? Or how can I reach that goal if its attainable. I appreciate your help.
  • Well, riposte, I am not a salesperson, but rather an employee of Edmunds.com, so it doesn't matter whether community members lease new Subarus or not. I always state "currently" or "right now" in my posts because manufacturers' lease programs change. If I didn't say this, a community member might come along and look at a post that is a month or two old and just assume that the information that it contains is still valid, when it is not. Subaru's current lease program is only scheduled to run through November 30th. It is difficult to say what its December program will look like. Its lease offerings on 2007 models will probably be at least as attractive in December as they are now, but there is a chance that they will be different. One should never feel rushed to lease a vehicle before the end of a lease program. The only right time to lease a vehicle is when you are ready and comfortable.

    Car_man
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  • Greetings carnutz3. If you actually can make $3,000 by getting out of your current lease, this is an unusual situation, you are in a good position and absolutely should have the dealer that you are working with cut you a check for your vehicle rather than using the proceeds from it as a down payment on your new lease. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who do risk losing them if their leased vehicle is totaled in an accident or stolen and never recovered.

    I would be happy to give you my opinion on the lease that you were quoted. However, in order for me to do so I need to know its full MSRP and selling price. You already mentioned one of these numbers, I believe that it is the selling price. I just need the other. Having both numbers will show me how much of a discount you are being given and it will enable me to use Subaru's current lease program to estimate your vehicle's monthly payment. Let me know and I'll tell you what I think.

    Car_man
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  • Welcome jwill008. I would be happy to give you an idea of how much the WRX that you are interested in will cost to lease. In order for me to do so, I need you to provide me with its full MSRP (including the destination charge) and its approximate selling price. Make sure to tell me how long you want to lease it for and what mileage allowance you need as well.

    Car_man
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  • The msrp is 25620, the selling price is 21999. i am looking for a lease that is 3 or 4 years. preferably 4 to spread the negative equity out. and a mileage limit of 12000 a year. thanks
  • Hi Carman,

    Thanks for the info. BTW, the MSRP is $34,400 and the selling price is $32,300.
  • sidzsidz Posts: 4
    Hi, If anybody can tell me if a lease of 250 per month for 36 months all tax included is a good deal for an 07 subaru impreza.I would appreciatte your input.
  • sidzsidz Posts: 4
    Hi, If anybody can tell me if a lease of 250 per month for 36 months all tax included is a good deal for an 07 subaru impreza, 2.5 automatic.I would appreciate your input.
  • Thanks for the additional information, jwill008. OK, so you are interested in leasing a base 2007 Subaru WRX Sedan with an MSRP of $25,620 and a selling price of $21,999 through Subaru Finance right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment would be around $293. The payment for an otherwise identical 48 month lease would be $288. If you were to roll half of the negative equity that you have in your current car, $3,000, into this car's capitalized cost, its 36 month payment would increase to around $384. Its 48 month payment would increase to around $358.

    Are you sure that you really want to lease your new vehicle with only 12,000 miles per year. I believe that you mentioned in a previous post that the reason you are so upside down on your current vehicle is because of the high mileage that you put on it. Rather than having a repeat of this problem with your next vehicle, you would be better off leasing with 15,000 miles per year. Increasing to 15k won't make that much of a difference in your car's payment.

    Car_man
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  • You're welcome, carnutz3. A base 2007 Subaru Impreza WRX STi has a spread of $1,877 between its full MSRP and dealer invoice price. You were quoted a discount of $2,100 on this car. This is probably right around dealer invoice once the optional equipment is taken into account, which is a good deal. Using the prices that you mentioned, I estimate that this car's zero down, pre-tax, 42 month, 12,000 mile per year monthly payment would be around $428. As you can see, even if it includes tax the payment that you were quoted for this car is a little on the high side. Make sure that the dealer you are working with uses Subaru Finance's current 24 month, 12,000 mile per year lease money factor and residual value of .00255 and 58% to calculate your car's monthly payment.

    Car_man
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  • Hi sidz. At first glance, the monthly payment that you mentioned looks attractive. However, I will be able to give you a much more detailed analysis of this deal if you provide me with this car's MSRP, selling price, and mileage allowance and tell me exactly what version of the Impreza you want. Let me know and I will tell you what I think.

    Car_man
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  • saru1saru1 Posts: 1
    Hi--
    I need some good advice. I'm a long-time Impreza driver and about to sign my 1st lease for an '07.

    Specs:
    $18,620 MSRP (VT dealer)
    Trade-in on '05 Impreza RS (30K miles): $11,900.
    '05 Payoff quote: $9400
    Lease: $288 down, $215 a month, 36 month, 45,000 miles.
    Includes a sunroof (to be installed by dealer).
    Residual: $10K

    Can I negotiate this down any further?

    If you can get back to me by tomorrow, it would be greatly appreciated. Thanks!
  • sidzsidz Posts: 4
    Thanks for your reply,
    Its an 07 impreza, 2.5i, msrp was put by the dealer of 19,000K with a residual of 11,700, zero down, 12k per year mileage, all of which comes down to a monthly payment of 248/month. I already signed it up. Is this a good deal?
    I would appreciate your reply.
    Thanks
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