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2013 and earlier-Subaru Outback Lease Questions

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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi comfortzones. These vehicles' lease programs vary by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if these terms are correct. Subaru Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Outback Wagon 2.5 XT with navigation and 15,000 miles per year are .00220 and 53%, respectively. The numbers for an otherwise identical lease of a 2007 Subaru Outback Wagon 3.0 R LL Bean are .00240 and 57%. When negotiating your lease on either of these vehicles, make sure to take advantage of the $750 lease cash that is currently available on them. This incentive will help you to negotiate an attractive capitalized cost.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi denver5357. All leases provide lessees with the option to purchase their vehicles for a predetermined price at lease-end. Vehicles' end of term purchase option prices are stated right on their lease contracts. There's nothing wrong with leasing an Outback and then purchasing it at the end of your lease if you decide that you like it. Doing so won't cost you a lot more than just financing the Outback that you want. Subaru's 42 month lease money factors for the 2007 Outback are between .00200 and .00250, which is equivalent to interest rates of around 4.8% to 6.0%. So it's lease program isn't amazing, but it isn't terrible either. There actually is an advantage to leasing. If you decide that you don't like your Outback, or if it has a ton of mechanical problems, or if it is involved in an accident that would diminish its future resale value you will be able to just walk away from it at the end of your lease. If it has been good to you and you decide that you like it then you can pay cash for or finance its purchase option price.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 232499. It sounds like you are new to leasing. If so, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I would be happy to estimate what this car's lease payment should be like right now for you, but in order for me to do so I need you to provide me with its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You may be able to get an idea of how much you should pay for this vehicle right now by visiting the following discussion: "Subaru Outback: Prices Paid & Buying Experience". Let me know what selling price you come up with and I'll crunch some numbers for you.

    Car_man
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    Prices Paid Forum
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    bajafreshbajafresh Member Posts: 11
    Hi Car Man,

    I'm writing from near Detroit. I've leased several vehicles but this would be my first Subaru. Would you have a look at these deals and let me know what you think? They're both for the same car, a 2007 Outback 2.5i manual transmission; MSRP 25,942, 12K miles a year:

    2-year option:
    24 months with 12k a yr with a total due at signing of $610.52 + plate; payment would be $290.72 with tax

    24 months 12k residual is .67 and money factor is .00200 cap cost is $21,400

    3-year option:
    36 months with 12k with a total due at signing of $608.90 + plate; payment would be $289.10 with tax

    36 months 12k residual is .59 and money factor is .00240 cap cost is $21,200

    Thanks in advance!
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    penpalevpenpalev Member Posts: 1
    Car Man,

    What Lease Payment do you get with the following terms:
    MSRP: 28,346
    Sales Price: 25,453 (already includes incentives)
    Residual: 15,590.30 (55%)
    Money factor: .0026
    Acquisition Fee: 595
    First mos and security deposit waived
    42 mos.
    10,000 per year.
    New Jersey

    Option A
    We were going to strip out the tax and title and pay that outright (1782 for tax and 371 for title and registration) plus zero additional down.

    Option B
    TTR + 1,000 down

    Are these good deals? Am I missing something?

    Thanks in advance
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bajafresh. The money factors and residual values that you were quoted are right in line with Subaru Finance's current program for the model that you are interested in. This is a good thing. You never mentioned the selling price of the car that you are interested in leasing though. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know what the selling price is.

    Car_man
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    Prices Paid Forum
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi penpalev. The money factor and residual value that you were quoted are right in line with Subaru Finance's program for this vehicle. That's a good thing. Using them, an MSRP of $28,346, and a selling price of $25,453 I estimate that the 42 month, 10,000 mile per year, your zero down, pre-tax monthly payment for the 2007 Subaru Outback 2.5i Limited Wagon that you are interested in should be around $342.

    The base version of this vehicle has a spread of around $1,700 between its MSRP and its dealer invoice price. Add the $750 cash incentive to that and we have a total of around $2,450 to play with. You were quoted nearly a $2,900 discount on this vehicle, which looks like a very good deal to me. If you like it, I personally don't see any reason not to do this deal.

    Car_man
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    sanferminsanfermin Member Posts: 12
    This is what I ended up with:

    MSRP: 28,138 (does not 1000 LL Bean rebate, but residual worked off of 28,138)
    Cap Cost: 23,490 (includes 750 lease cash and 1000 LL Bean Rebate)
    Residual: 67% (12k/yr)
    MF: .00265
    24 month lease
    ACQ Fee: 595

    -Dan
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Outback, Dan. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!

    Car_man
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    boblenonboblenon Member Posts: 1
    So I am looking at leasing a new Outback 07 2.5i AT - I have been driving a 2000 outback legacy for the past few years. I'm in upstate NY.

    The terms for a lease I'm looking at are:

    Term: 42 mo
    MF: .0025
    Residual: 51% (13029) 15K miles/yr
    Selling Price: $23640
    MSRP: $25549

    I'm looking at a $265/mo (or $298/mo with taxes ect rolled in). This includes a trade-in of $2100. Price includes incentives.

    From what I have read, this sounds a like good deal? Any comments?

    Thanks.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi boblenon. The lease program that you were quoted for the Outback that you are interested in looks about right to me. However, I suspect that you will be able to negotiate a more attractive selling price on this car by shopping around. Subaru is currently providing $1,000 to $1,500 lease cash on the Outback right now plus there is around a $1,500 spread between the Outback's full MSRP and its dealer invoice price. Try stopping by the following discussion to see how much other community members have paid for similar models recently: "Subaru Outback: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
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    linusthelablinusthelab Member Posts: 4
    Hi Car Man!
    Nice forum you have here.
    I have a 2005 Subaru Outback LL Bean 36-month lease, $418.22/mo. 12K miles/year allowance, currently only 23K miles on it. I have 6 months left on the contract. I have just purchased a 2005 Subaru Baja and no longer need the Outback. Can I turn in the car early? Even if I could, I imagine I would pay a penalty. I hope I don't have pay the remaining $2500 I would owe if I kept it until the end.
    Thank you in advance.
    - Art
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    subearusubearu Member Posts: 3,613
    You likely can just pay the remaining 6 months of payments plus any early termination fee, less the security deposit. Or, maybe try a CarMax and see if they'll purchase it - as long as their price is equal to or higher than the buyout, unless you're ok with some cash out of your pocket.

    -Brian
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    manga13manga13 Member Posts: 3
    I am considering a Subaru Outback 2.5i LLBean Edition. The TMV for my area is 26,497. Do you know what figures I should use for the Residual amount and the MF? thanks.
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    linusthelablinusthelab Member Posts: 4
    You said: "You likely can just pay the remaining 6 months of payments plus any early termination fee, less the security deposit."

    But this doesn't make good sense. That would cost more than if I waited until the end of the lease.

    - Art
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    subearusubearu Member Posts: 3,613
    I didn't say it made good sense either :P but, it is what he was asking and likely may be the easiest solution. He's already in another vehicle and has payments left on the other. Getting out of a lease costs $, 6 months or not.

    If the vehicle had more time left on the lease, he might be able to find someone to take over the lease. But, 6 months or less is probably a hard one to convince someone to take over. That's why I suggested finding someone to purchase and buyout the lease.

    -Brian
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    bobbyjonesbobbyjones Member Posts: 4
    Art,

    Did you end up keeping the 2005?

    -B
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    xwesxxwesx Member Posts: 16,882
    Depending on the cost of insuring it for those 6 months, it could work out better than retaining it for that time as well.
    2018 Subaru Crosstrek, 2014 Audi Q7 TDI, 2013 Subaru Forester, 1969 Chevrolet C20, 1969 Ford Econoline 100, 1976 Ford F250
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    jad376jad376 Member Posts: 12
    Ciao. This is my first time posting, and I know it's in the wrong forum. I just thought I'd get more traffic here. Thanks for understanding.

    I'm looking at a leftover '07 Legacy Limited wagon, Diamond Grey w/black leather interior.

    From the dealer:
    52% residual
    .0023 money factor
    based on "$300 under invoice": $24,379.

    Lease calculator based on 6% sales tax and 39 months: $354, that's adding $1000 Subaru cash incentive. However, because the dealer quoted me under invoice already, should I forget about this $1000?

    It still seems a little high to me. Is this a good deal?

    J.
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    jad376jad376 Member Posts: 12
    The dealer came back with other numbers on the Limited.

    $0 down, 15,000 miles/year, 39 months: $369, T,T&L folded into monthly payment.

    T,T&L= about $1100. If I put that down, for the same lease on the same vehicle, he quoted me $339. This sounds like the right deal.

    Now...I found another dealer much closer to my home with a silver Special Edition. No 6-CD, no auto climate control, but they're quoting me a price to put the full leather interior in and do a lease:

    with $525 down:

    $358, month, 42 months.

    At that same dealer, on "a" Limited wagon, they're quoting:

    $385/month, 48 months, $0 down. This is with an "acquisition fee" folded into the monthly.

    Personally, I'd prefer the first vehicle; I'd have to go farther to get it, but I don't really want to get into this car for a year past its factory warranty.

    Is this a good deal? I'm shopping it against the Hyundai Santa Fe, Honda CR-V, or a deeply deeply discounted Nissan Murano. The Subaru beats them all on gas mileage, and has similar usable space in the back. The handling on the hunkered-down Legacy is good for a wagon, in my opinion.

    Thanks for your help,

    J.
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    ateixeiraateixeira Member Posts: 72,587
    I'd go with the $339 deal. You want to put something down so you don't end up upside down and need gap insurance.
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    jad376jad376 Member Posts: 12
    Thanks for the advice, but the dealer didn't say anything about gap insurance. What would it be for this kind of lease (car's selling price = $24,379 so far, I want to get it down to in the $23s, but original MSRP was almost $27,000).

    However, rather than taking the selling price down any, my only other idea at the moment is either using my good credit score to get a better money factor (.00235 is what they were offering, more accurately)...or I was thinking of getting them to install Outback roof rails if I took the $339 deal.

    Still, though, it seems a bit much...I'm suspicious at a car dealer who is actually willing to be forward with me. There is something I've got to be missing.
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    linusthelablinusthelab Member Posts: 4
    bobbyjones,
    Yes, I ended up keeping the 05 Outback. I figured I might as well wear it out for the next 6 months instead of my purchased Baja.
    - Art
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    bobbyjonesbobbyjones Member Posts: 4
    Art,

    I'm asking because I'm looking to buy. I'm days away from leasing / buying new but would love to try and get into something like yours if the residual was right!

    -B
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    linusthelablinusthelab Member Posts: 4
    Bobby,
    The residual is about $18500 or so when I turn it in at the end of the year. I don't remember the exact price. I checked into lease transfers but it appears that Subaru does not allow that. A friend of mine is considering buying it at the end of my lease. I think it's worth it.
    - Art
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    bobbyjonesbobbyjones Member Posts: 4
    Rats!

    Well, good luck with it then.

    -B
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    jad376jad376 Member Posts: 12
    The dealer replied via email that "gap insurance is included". Do I absolutely need this? Which situation would I not need gap insurance? What hidden costs would be in the lease that I can try to eliminate in addition to getting the selling price down further below what he's offering?

    Again, the offer from the dealer:

    '07 Subaru Legacy Limited (last one left): MSRP: 26,140
    "$300 under invoice" price offered: $24,379

    $339/month, $1100 down, 15k/year, 39 months

    $369/month with $0 down

    Res: 52%, MF: .00235

    I believe the MF could be slightly lower. What do you think?

    Thanks all!
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    dino001dino001 Member Posts: 6,188
    Most leases these days include GAP protection w/o optout option. And to be honest, GAP is what you absolutely DO NEED when leasing with no/little down (which is the way to go in a lease). It protects you from bank demanding money in case of a total.

    I would never buy GAP for a loan, but I would never lease (I mean "normal" lease, not one of those exotic put 10 grand down or so) without GAP.

    2018 430i Gran Coupe

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    jad376jad376 Member Posts: 12
    OK, thanks for all your advices. The dealer just came back with $22,238 - $3,902 off the MSRP. Lease payment of $369/month folding all taxes and fees into the monthly payment with absolutely nothing down! Anything else I should know whatsoever? I'm going to get the car tomorrow.
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    jad376jad376 Member Posts: 12
    I just plugged in the numbers to a lease calculator just to be sure - if this one is based on 12,000 miles a year, it's just a few dollars more than right-on-target. If the lease calculator is based on 10,000, I guess I've got a good deal on my hands.

    MSRP: $26140.

    Negotiated lease price: $22238 ($1000 lease cash included)

    Tax, title, license, fees, etc.: $1100

    Cap: $23,338

    52% residual: $13,593

    Money Factor: .00235

    39 months

    6% PA sales tax

    $356.86 per month. If this is based on 12,000 miles per year (1000 miles per month), and the 250 extra miles needed to bring it up to 15,000 would be 0.15 per mile - that would, in theory, bring it up to $394 and change...so it looks like a pretty good deal after all.

    I sent out some dealer inquiries to Volvo dealers about the V50, too - they come close ($431 for a $37,000 car?), but I'd rather save $3,588 in lease costs. Ciao!

    J.
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    bobbyjonesbobbyjones Member Posts: 4
    Don't forget to see if the cap includes inception fee ($595-$695) and the dealers "documentation" fee ($200-300).

    -B
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    kyfdxkyfdx Moderator Posts: 241,633
    Also.. PA tax on leases is 9%..

    Edmunds Price Checker
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    Did you get a good deal? Be sure to come back and share!

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    jad376jad376 Member Posts: 12
    Saturday morning, I took delivery of my brand-new '07 Leggy, Diamond Grey Metallic w/black leather. $339/month, 39 months, 15k/year. That's it. Thanks to you all - I couldn't have done it without reading this forum all this year!

    Although my car is a bit hard to get used to after seven years of PT Cruisers, the Leggy is winning me over slowly. It's much, much quieter than our Audi. I plan to get a Tornado for the naturally aspirated four-banger (although I did average 27 mpg on the way from Morristown, NJ to Bethlehem PA, not bad for day one), and next up will be a portable, dockable aftermarket nav system. I'm thinking of rigging a removable holder in the space between the air vents - you Subaru owners sure like to write about your cars on the discussion forums, so I won't have a problem finding advice in that area. Next up will probably be a bike rack for the low-profile roof rails. Again, thanks a ton and eventually come and Google over to the other Legacy forums (probably in the "Diamond Grey Thread"?) for pictures.

    Ciao!
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    worldly1worldly1 Member Posts: 3
    Hi....I am talking with a dealer about leasing a 2008 Outback Limited.
    This is what he proposed.....MSRP $28,690 My price $26,085
    42 Mo & 10K per year
    $700 Trade in on my current Subaru
    $2,000 out of pocket with a payment of $318 per Mo plus tax.

    I appreciate your input...Thanks
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    worldly1worldly1 Member Posts: 3
    Hi....Re: the Outback mentioned above....I forgot to mention the residual of $16,067 after 42 Mo
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    xwesxxwesx Member Posts: 16,882
    $700 trade in? What Subaru do you have?! :sick:
    2018 Subaru Crosstrek, 2014 Audi Q7 TDI, 2013 Subaru Forester, 1969 Chevrolet C20, 1969 Ford Econoline 100, 1976 Ford F250
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    worldly1worldly1 Member Posts: 3
    2003 Forrester xs
    26,000 miles ....automatic.....sunroof
    Like new & with 4 new tires
    My residual is $13,300 & they said they would give $14,000
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    texmextexmex Member Posts: 4
    I just leased an '08 Outback 2.5i(not basic) here in NJ.
    MSRP: $25570, agreed on $22500.
    Put down: $1000(included first mths paymt and registration fee)
    Mthly payments $320.
    $$ factor:.002600(?)
    42 mths
    Comments? What do you think Carman? Did I get screwed or is it a fair deal? I've leased many cars and this is my first from Subaru; I've come to realize this: Dealerships get their $$ in the end. It's just a fact.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Outback, jad376. Don't forget to stop by the new Edmunds.com Dealer Ratings & Reviews section to share your thoughts on your experience with everyone. Enjoy your new ride!

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi worldly1. The car that you described has a spread of around $1,900 between its full MSRP and its dealer invoice price. Plus Subaru is providing a $1,000 cash incentive on leases of it. This gives you a total of $2,900 to play with. The $2,600 discount that you are being given looks very attractive to me. Just make sure that the dealer you are working with uses Subaru Finance's current buy rate lease money factor of .00260 to calculate your lease payment and you're in business.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings texmex. The vehicle that you described probably has a spread of around $1,550 between its full MSRP and its dealer invoice price. Plus Subaru is providing a $1,000 cash incentive on leases of it. That gives consumers who are in the market for it around $2,550 to play with. The $3,000 discount that you are being given looks outstanding to me. Furthermore, the money factor that was used to calculate your monthly payment is right in line with Subaru Finance's buy rate for this model. This looks like an outstanding deal to me. Congratulations. Make sure to stop by the new Edmunds.com Dealer Ratings & Reviews section to share your thoughts on this dealer with others. Enjoy your new ride :) .

    Car_man
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    roymanroyman Member Posts: 3
    I'm considering leasing an '08 Outback 2.5i Limited and would like some opinions as to what a fair monthly payment would be with the following terms.

    MSRP $28,616
    36 months
    12k / year
    $0 Down payment

    Teir 1 credit
    Michigan dealership

    Nothing has been negotiated as of yet. Only inital salesperson contact and test drive complete. Competition should be a factor; similar vehicles exist in inventory at 3 local dealers.

    I've surmised from other postings that there is $1,000 incentive on the vehicle and quite a bit (approx. $1,900) of differential between Invoice and sticker. Money rates seem to hover around 0.0019 and residual of 58%. But I really don't know if any of this accurate, that's the reason for the post.

    Thanks for your consideration.
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    jpautojpauto Member Posts: 11
    Hi,

    This has been expensive to lease the last few months but is the car my wife and I really want. Hoping you can post the December numbers (cash, residual, money factor) once they are in. Looking at 36 or 39 months (whichever is better) and 12k miles per year.

    Thank you!
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    jpautojpauto Member Posts: 11
    please confirm the following:

    residual for 12k miles per year is .53 at 36 months, .51 at 39, and .50 at 42
    money factor for all is .00170

    And wondering if the cash is $750 or $1500? I read edmunds info as 2 different $750 incetives that can both be used on a lease and thus totaling $1500? Wasn't clear.

    Thanks, and please correct me if and where I am wrong...
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    tenmilertenmiler Member Posts: 26
    I got the exact quote from Valley Subaru in Longmont Co. $32000 purchase price, with all the data you list above, =$469/month.

    I'm pretty sure the cash back is $750. You can see that on their website for their season event (I'm so tired of the "season/event" advertising, I could puke up a giant red bow on a Lexus). The XT is half that of the regular Outback with cash back.

    I'm curious what your purchase price has been quoted? Anyone else finding better deals--$32K seems okay but not great. Pretty disappointed in the buydown on this car, say compared to a Volvo XC--you can get that for a substantially less per month lease.
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    dino001dino001 Member Posts: 6,188
    It's because Volvo subsidizes its lease by significantly overinflating the residuals and Subaru does not (or to be more exact - Subaru overinflates them to much lesser degree). If you got Volvo and happen to drive much more than the mileage or have some unfortunate wear and tear, you'll have to either take a heavy penalty, overpay for its purchase by some absurd amount. In Subaru's case you might break even or overpay to much lesser degree. So it all depends on one's situation: low payment today, high price/penalties tomorrow, higher payment today, easy walkout tomorrow. Suit yourself ;)

    2018 430i Gran Coupe

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    tenmilertenmiler Member Posts: 26
    Hi dino,

    I guess I'm not understanding you very well: Both cars have penalties for overages on mileage, and I'm pretty sure they are the same (.20/mile). Are you saying Subaru doesn't penalize you for excessive wear and tear. I have to say I'm kind of doubting that Volvo is any "harsher" here.

    For example: My current XC lease is up. I have taken it into Wells Fargo Auto Finance's auction house in Denver (who, btw, does Subaru leases), to have them "evaluate" it. I had one unfortunate bang into my bumper that cracked it, but it was a $150 charge (the bumper repair quote was $580 when I took it to the dealer last year). The other thing they checked was tire tread. I was okay on that, so no charge. Then they looked for dings and large scratches beneath paint. I had none, but the guy told me they were **$15** a piece. That was it. My car was under mileage so I didn't get dinged for that, but it was the same as Subaru. It wasn't even clean when I brought it in, had a perforation in the side door leather from a ski, the guy saw it and didn't charge me.

    So, I personally think that Volvo is subsidizing the car, yes, but not hitting wear and tear any harder, unless Subaru has some kind of easy lease deal where you can beat the crap out of the car and not worry. I'd be surprised.

    I just want to add here: If I wanted a new XC, I'd get one, but I don't like the poor gas mileage on the new one so I'm now considering an Outback--so this wasn't a 'Volvo is better than Subaru" post. I think the Outback's a great wagon!

    Thanks!
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    tenmilertenmiler Member Posts: 26
    Carman,
    Wondering if you could chime in on this lease for an 08 Outback XT/VDC/Automatic/Nav:

    Purchase Price: 32,000
    residual for 12k miles per year is .53
    money factor is .00170
    36 month lease= $469/month plus taxes
    Customer cash back: $750

    Thanks!
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    dino001dino001 Member Posts: 6,188
    you saying Subaru doesn't penalize you for excessive wear and tear. I have to say I'm kind of doubting that Volvo is any "harsher" here.

    No, that' not what I'm saying at all. I have no idea about the inspection critera or "nickling and diming" practices of any of the companies.

    My point is that in case of having overmileage/excessive wear you can elect to purchase a vehicle rather than pay the penalties. However, in case of Outback, you'd be much closer to its market value, therefore if you decide to "flip it" rather than pay the penalty, you'd take much smaller loss than in case of Volvo, which residual is significantly more overinflated.

    2018 430i Gran Coupe

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    tenmilertenmiler Member Posts: 26
    Thanks for the reply, dino, I apologize if I misunderstood.

    And on the front-loading of residual it's likely you've got more knowledge than I. I will say though, WellsFargo offered the car to me at a $4000 discount from the buyout, which put it about $5,000 under current retail market value and a couple grand less than trade-in value (using kbb and edmunds as a gauge) if I did buy it. I do know Outbacks tend to have higher value at the end of leases than most cars (I think BMW was the highest?).

    But if you just turn in the car and walk away rather than buy, being 'closer to market value' at the end of the lease is irrelevant, no? That's where Volvo is beating up on the Outback (in terms of the lease), especially given it's known as a luxury wagon where Outback isn't (and the MSRP--however overpriced--is nearly $10K more)

    The sad part is I don't want to own a Volvo past 50,000, even though it's been flaw-free till now. :) So I intend to turn it in. I'd likely do that with a Subaru as well. I simply lease because I cannot stand servicing a car.
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