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2013 and earlier-Subaru Outback Lease Questions

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    maf1maf1 Member Posts: 17
    The 2010's with nav are few and far between. Just quoted 33965 for a 2010 3.6R Limited with bumper cover, dimmer, and splash. The only one with nav in new england. MSRP is 35093. For a 3 year lease with 15K miles the MF is 0.0022 and residual is 55%. Unfortunately the car is green, but I can order a silver for the same price. How does this sound?
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    meganb1meganb1 Member Posts: 1
    Hi Car Man,

    I am looking for a good deal on a 36 month lease with 12k/year. I wanted a 2009 but they seem to be all gone since the 2010s are coming in now. I was just quoted the following for a 2010 Ouback 2.5 ( incld auto-dimm mirror/compass ,bluetooth,rear bumper cover and all weather floor mats).

    MSRP: 27593
    Selling price: 26629
    Res: 56%
    MF: 0.00220

    How does this deal sound? Do you think it's likely that deals will get better in September and I should wait until then to make a deal? Also, you mentioned something in a previous post about Subaru providing a little bit of lease support for the 2010 ouback. Where can I get more details on this?

    Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Megan. Subaru was not providing much in the way of support on the 2010 Outback yet in August. It is scheduled to introduce its new September incentive program some time this afternoon. Hopefully Subaru will provide more support on this model in September than it had last month.

    The money factor that you were quoted is right in line with Subaru's August buy rate lease money factor for this model. That's always a good thing.

    Let's take a look at its selling price. The Outback that you are interested in probably has a spread of around $1,650 between its full MSRP and its dealer invoice price. You were quoted a dealer discount of $964. That probably puts you at around $700 over dealer invoice, which isn't bad.

    Car_man
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    eps105eps105 Member Posts: 216
    Hi Car Man,

    I have a loaded 2010 Outback 3.6R Ltd (ADK + nav/moonroof) on order through my dealer, using the VIP Program, meaning that I can lease it also using the invoice as the capitalized cost. Invoice is $33, 635 from an MSRP of $36,781.

    Delivery is expected in late Sept or early Oct. and I'm trying to decide if I should buy vs. lease, and would like to walk back into the dealer already educated on my options.

    Can you quote the known Sept. money factor and residual for this? I'm considering 36 or 39 months and 10 or 12k miles/year.

    Also, please refresh my memory -- is residual calculated from the MSRP regardless of capitalized cost? I.E., I'd multiply $36781 x whatever residual you quote, right?

    Thanks in advance for any assistance! Much appreciated!

    Elliot
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    vserenavserena Member Posts: 2
    I'm in Los Angeles and looking to buyout the existing lease on my Subaru Outback which expires this month. Financing being offered by the dealership (60 months) is 7.9% APR with 4.27& "Add On". The residual payoff is $15,355 w/additional fees (including a DMV AMT of $307) bringing it up to $17,347. With the finance charge of $3770 tacked on, I'm looking at a total payment of $21,228. Questions -- 1) what does the add on mean for the APR? 2) is this APR reasonable or high? if it's high, where can I get more reasonable financing for a lease buyout? (Capital One doesn't finance buyouts) 3) my dealership says these terms are non-negotiable, and if so, why? They won't even look at a 36 month term. Where do I go from here?
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    bigdadi118bigdadi118 Member Posts: 1,207
    You can check with Bank of America or AAA re %. Usually lease buy-out has higher % than regular new car or late model used car loan.

    Another option is to see whether cheaper by return yours (no buy-out) and buy one from the dealer about more or less of yours, then get a used car loan.

    If you like to try out other model you can check the short term lease site(s) that people try to get off the lease before lease end.
    www.leasetrader.com
    www.swaplease.com
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    nualakerr1nualakerr1 Member Posts: 9
    I am in talks with my local dealership for a lease. For zero down (not including tags, title, registration) the dealer wants $444 a month including tax for 3 years, 12,000 miles a year on a 2010 2.5i premium Outback with sunroof and weather package. I think this is high for a lease considering he reduced the price to $25,600 and I could buy the vehicle for an extra $40 a month with their current 3.9% financiing.
    Do you think the lease could be better? I refuse to spend more than $400 a month for 25K car with good residual value.
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    hmansellhmansell Member Posts: 3
    We are paying $459+taxes/mo, with zero down, for the 2010 2.5i Limited with navigation (MSRP around $32k), on a 3 yr, 12k/year lease. This isn't as good as I had hoped (not much lease support from Subaru) but it seems better than you are being offered.

    The agreed price was about $500 above invoice. The dealer wouldn't budge below that because the Limited w/ nav are in short supply and he had to buy from another dealer. He claimed that the other dealer gets the holdback and so he couldn't be any more flexible.

    I think the MF was 0.00196.
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    eps105eps105 Member Posts: 216
    That actually sounds like a really good least given that level of equipment and no money down.

    People need to realize that, when broken down to a simple level, leasing is no more than financing the depreciation of the vehicle during the period that you are leasing it. Aside from upfront and termination fees, all leases can be calculated based on the negotiated price (capitalized cost), residual value, and money factor (interest rate, multiply x 2400).

    The only way to get a killer lease is if the manufacturer artificially subsidized the lease such that they are overrating the residual value beyond what it would really be worth at termination (making it impractical to buy at termination) or to add incentives to reduce the capitalized cost.

    Since there are ZERO incentives on the Outback, one shouldn't be surprised that the leases are only fair but not great. This is helped in part that Subarus hold their value and are being rated around 52 - 55% for residual value right now. That number could actually go up in the coming months as reliability and popularity data becomes available, which would make the leases somewhat cheaper.

    Elliot
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    nualakerr1nualakerr1 Member Posts: 9
    Thanks for your information. Good to know! I forwarded your response to my salesman at Subaru! I will be in the market to lease in November so with a bit of luck there will be better incentives or promotions towards the end of the year. Your quote was only $15 more for tons of extra bells and whistles.
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    hmansellhmansell Member Posts: 3
    Agreed - the money factor and residual value are set by Subaru Finance and are not great, but not bad either. They may get better as post-clunkers supply cranks up. The other way of providing lease support is a rebate, which is essentially a discount on the negotiated price that the dealer doesn't have to eat.

    Last week Subaru were advertising a special on the base model which required the dealer to "contribute" (i.e. discount) about $1500 but they don't seem to be advertising that any more.

    Aside from that the only thing you can really negotiate is the price, and you should be able to get something reasonably close (within a few hundred bucks) to invoice price providing there is good supply. A dishonest dealer could inflate the monthly amounts beyond the standard Subaru lease by padding things. It's important to look at the MSRP, negotiated price, residual value (which is a percentage of MSRP, as defined by Subaru finance) and money factor and make sure nothing has been added. If something smells wrong you should double-check using lease calculators available on the web.

    I didn't have to work hard to get this deal - I just asked for a discount and that is basically what they gave me. They were pretty reasonable and open and honest, so I would recommend them from that point of view. The dealer was Rye Ford Subaru in Rye, NY.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Elliot. The VIP program, huh? You've got connections. Nice. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Outback 3.6R Limited with 12,000 miles per year are .00190 and 54%, respectively. The numbers for an otherwise identical 39 month lease are .00190 and 52%.

    If you were to lease with only 10,000 miles per year, the above residual values would be 1% higher.

    You are correct, vehicles dollar residual values are calculated by taking a percentage of their full MSRPs, including any options that can be residualized and the destination charge.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi vserena. By 7.9% with a 4.27% "Add On" did you mean that the dealer is trying to charge you a 12%+ interest rate to finance the buyout of your leased Outback? If so, that's a terrible interest rate unless your credit is in really bad shape. The 7.9% rate is about right for a used vehicle in today's market. What's the whole "Add On" business about? If the dealer insists on charging it, you may want to shop around on your own with a few banks and get pre-approved to finance your car on your own. There's lots of banks and credit unions out there that will finance used vehicle purchases.

    Car_man
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    eps105eps105 Member Posts: 216
    Car_man, thanks for your response. Much appreciated!

    Yes, I was able to use the VIP program which is an employee benefit through my wife's company. It made it easy to avoid haggling, but I've been reading plenty of posts where people are buying Outbacks for $200 - $500 UNDER invoice without the VIP Program, so ya never know...

    Anyway, I have one other quick question. At this time, I am leaning towards buying instead of leasing. Here in the Mid-Atlantic region, we have 3.9% financing up to 63 months for the Outback, IIRC.

    I am scheduled to take delivery on Oct 3 if my Outback shows up on time, and my dealer says he is highly confident that the 3.9% rate will roll over into October without interruption. I thought that monthly incentives usually aren't announced until the 4th or 5th of each month, but he reiterated I should be fine with the 3.9% on October 3.

    Would you care to comment on that as a second opinion? Any additional insight on Chase/Subaru rates for October?

    Thanks in advance for any advice!!

    Elliot
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    sodapop3sodapop3 Member Posts: 5
    MSRP $36,232, cap cost $33,942, drive off $1041 inc. 1st month and license, money factor .00190, residual $19,565, 36 month/12k miles $505.31 plus tax. I am in Dublin, CA, quote from Livermore Subaru. Feedback would be appreciated. Looking to lease since I tend to turnover cars every three years. thanks
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    djhalptertdjhalptert Member Posts: 115
    The numbers add up okay, my question is why would you lease an Outback for over $500 a month with $1K down? I know it's got to be the 3.6R but still. I don't get it. I would wait until at least Jan, Feb, Mar. The lease numbers will get better as the vehicles sit on the lots. No one should pay that on a lease. You could buy it for $550 or less.
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    cdnj1cdnj1 Member Posts: 16
    Hi, I just made the last payment on my existing lease and will need to get into a new vehicle this month.

    Carman - do you have the new MFs and Residuals for October yet?

    I'm looking for Outback 2.5 Limited for 36 months at either 12k or 15k per year. Can you provide these numbers?

    Thanks,
    chris
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    bigdadi118bigdadi118 Member Posts: 1,207
    I think you can extend your lease in monthly basis so allow you more time to find a good deal.
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    djhalptertdjhalptert Member Posts: 115
    Car_man,

    Do you know the lease numbers on the 2010 Subaru Outback 2.5i Premium, 36 moths, 10,000 miles per year? Also, if you can provide the 3.6R base that would be great. Thanks.
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    chuck68516chuck68516 Member Posts: 195
    Car_Man,

    Can you please provide the October lease numbers for a 2010 Subaru Outback 3.6R (base) with 36 months/ 10Kper year? Thanks.

    Also, can you provide the numbers for 36/10K Outback 2.5i Premium? Thanks.
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    sodapop3sodapop3 Member Posts: 5
    sorry I am not the Car_Man
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    stoopystoopy Member Posts: 105
    Carman,

    Can you please provide the lease numbers for a 2010 Subaru Outback 3.6R? 36 months, 10K per year. Thanks.
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    djhalptertdjhalptert Member Posts: 115
    Car_Man,

    All I want for my birthday today is the numbers for a 24 and 36 month lease of a 2010 Subaru Outback 2.5i Premium and a 2010 Subaru Outback 3.6R base, both with 10,000 miles per year. Thanks.
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    jayriderjayrider Member Posts: 3,602
    What about Christmas? :)
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    bobbie11bobbie11 Member Posts: 1
    Greetings! Looking at a 42-mo lease on a new Limited. 20K miles/yr. MSRP (w/ $720 destination) is $30,300. With $1,800 off that, and $2,300 down, the dealer is quoting a monthly lease payment of $446 (money factor is .00190; residual is 49%). This seems high to me. Should I be going for more than the $1,800 off the MSRP? Any advice you can provide would be much appreciated!
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    stoopystoopy Member Posts: 105
    My advice is don't lease. You could buy an Outback for that much. Rule of thumb, if you can't save about $100 a month, don't lease.
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    jayriderjayrider Member Posts: 3,602
    Interesting lease numbers -- 1666 miles per month for 42 months = 69999 miles.
    Way out of warranty plus this deal is very strange. Sounds bogus.
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    indianajohnsindianajohns Member Posts: 89
    Can anyone please post the lease rates for the 2010 Outback 3.6R and 2.5 Premium? 36 months, 12,000 miles. Thank you.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Elliot. The VIP program is especially handy in today's market where Subarus are hot and many dealers are asking top dollar for them.

    While manufacturers usually do not officially tell dealers beforehand what the next month's programs will be like, generally speaking offers tend to get better as the model year progresses, not worse. The dealer was making an educated guess that the 3.9% rate would be available in October...and they were right.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Chris. I do have the information that you're looking for. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Outback 2.5 Limited with 15,000 miles per year are .00190 and 53%, respectively. The 12,000 mile per year residual value for this vehicle would be 1% higher.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, djhalptert. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Outback 2.5i Premium with 10,000 miles per year are .00190 and 55%, respectively.

    The numbers for an otherwise identical lease of a base 2010 Outback 3.6R are .00190 and 56%.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, chuck68516. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a base 2010 Outback 3.6R with 10,000 miles per year are .00190 and 56%, respectively.

    The numbers for an otherwise identical lease of a '10 Outback 2.5i Premium are .00190 and 55%.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey djhalptert. Please scroll up a few posts for the info that you're looking for. Thanks.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi indianajohns. Subaru's October buy rate lease money factor and residual value for a 36 month lease of a base 2010 Outback 3.6R with 12,000 miles per year are .00190 and 55%, respectively.

    The numbers for an otherwise identical lease of a 2010 Outback 2.5i Premium are .00190 and 54%.

    Car_man
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    ckadohamackadohama Member Posts: 1
    Hi guys, can anyone please post lease details that they've received for either 2.5/3.6 Premium outback, 36 months/12k? Starting to negotiate right now in SoCal (90291) and finding around

    2.5 Drive off $838.11
    payment $398.51+tax

    3.6R Drive off $911.75
    payment $434.62+tax

    Thanks in advance, would appreciate any input.
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    indianajohnsindianajohns Member Posts: 89
    Last year I had a lease quote on a LOADED 2.5i Limited for $370 a month with zero down and only first payment due at signing. In January I had a quote on a 2009 Outback Special Edition for $273, zero down. A 2010 Outback Premium CVT w/ AWP $27,082 was quoted to me at 36 months, $411 with zero down. I almost threw up. Especially after driving the 2.5 with CVT. It feels like a $22,000 car, not a $27,000 SUV. The 2010 lease rates are horrible. I am going to go pick up my $35,670 2010 Ford Edge AWD on Friday. Lease payment on 27 month term is $298 including 7% sales tax. I would lease one for maybe $300-$325 including tax but not more than that. It's not worth it.
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    cdnj1cdnj1 Member Posts: 16
    Hi folks,

    I'm in discussions with a dealership in NJ on a 36 month 15k/yr lease of a '10 Outback Ltd.

    Extras include moonroof, autodim/homelink mirror, media hub, wheel arch moldings, and wheel locks. Total MSRP is $31090.

    With only first payment at inception, I've been offered $495.24/mo.

    Cap Cost: 28966
    Tags and Fees: 489
    MF: .00190
    Residual: 53%
    Tax (7%) in NJ: 1012.79

    These #s don't compute for me; something seems off. Given Tax and Tags (as cited) divided over 36 months = 41.72, that would mean (at least by subtracting the provided monthly payment and the tax/tags) that depreciation+finance = 453.52.

    When I use the numbers provided and compute depreciation (cap-resid/term) and finance fee (cap+resid/mf) I get 346.90 and 86.34 respectively for a sum total of 433.24.....some $20 higher per month applying the math from the top down.

    anyone have any thoughts on this? Does chase subaru finance work some other voodoo into their calculation?

    Another question which I've never been able to find an answer to - how is car lease tax computed in nj? at 7% i cannot for the life of me determine the number being used as the tax basis (at least not as a function of msrp, depreication, residual, cap cost).

    Looking to take delivery this week. Any guidance or thoughts most appreciated.

    Thank you, Chris
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    stoopystoopy Member Posts: 105
    It works out to $495.47. A few cents different than your quote. Hardly anything to be concerned about. I would be more concerned about the fact that you are leasing a $31,000 vehicle for almost $500 a month. You could buy it for less than that.
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    cdnj1cdnj1 Member Posts: 16
    Thanks Stoopy. I'd considered the buy option, but not sure how I'd do that for less...60 months at 3.9 puts me at about 580/mo.
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    stoopystoopy Member Posts: 105
    I was referrring to a 4.9% for 72 month loan. Works out to $485 a month. I wouldn't buy this vehicle for that much and wouldn't lease it for that much either. I would either look at a different model or wait until the incentives come out. By January there will be at least $1000 lease cash on the Outback. All of my local dealers are starting to get flooded with Outbacks. One has 86.
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    jayriderjayrider Member Posts: 3,602
    Or with some research lease a much more expensive car for the same $'s. Leasing makes the most sense on a higher ticket vehicle with a healthy discount and good lease numbers. The outbacks are hot so discounts are unexciting. Lower priced cars are equally unattractive when you can do better purchasing.
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    cdnj1cdnj1 Member Posts: 16
    thx again stoopy. i'm not sure the 72 month option is the "cheaper" option with the higher interest rate and extra year of payments. i'm certainly interested in controlling the monthly payments, but its really the total cost that's most important, including the cost of the money.
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    ateixeiraateixeira Member Posts: 72,587
    Forester has better residuals, better rates on the few 09s that are left.

    But he's right, these are selling well so there are few incentives to make a bargain lease.
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    socalstan1socalstan1 Member Posts: 1
    Hi all, newcomer here but finding everyone's advice extremely helpful. I'm negotiating a 36 month/12k lease of a 2010 OB 3.6R with sunroof, all weather package, premium audio with bluetooth, auto dimming mirror and cargo net. Offered:

    Invoice price of $27,118
    Residual: 54%
    money factor: .00170
    $1399 drive off and monthly of $389.55 + tax = $427.53

    Almost $80 better than I was quoted 6 weeks ago, so feel like dealers are starting to give a bit. Would greatly appreciate thoughts on this deal, as well as others' experiences. Trying to negotiate down to $500 under invoice, but I'm liking the deal.
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    peiboypeiboy Member Posts: 6
    I am about to purchase a 2009 OB 3.0 with Nav for $29,500 with bank financing. This is Subaru executive car that has not been titled. Is this price ok? Time is of the essence here!

    John
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    ateixeiraateixeira Member Posts: 72,587
    How many miles?

    I'd aim for 10% below the invoice cost of a new one for a program car. Unless it has less than 1000 miles or something.
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    statefanstatefan Member Posts: 4
    Can anyone provide current lease terms for an Outback 2.5i with the CVT, no options? I am interested in 24, 36 or 42 residual values as well as the money factors. Thank you
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings statefan. Here's the info that you're interested in.

    Subaru's current money factor and residual value for a 36 month lease of a base 2010 Outback 2.5 with 15,000 miles per year are .00155 and 53%, respectively.

    The numbers for an otherwise identical 42 month lease are .00160 and 48%.

    Car_man
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    casalbordinocasalbordino Member Posts: 2
    A 36 month lease - 12,000 mile lease will come to an end 1-31-10. Finance company wants $15,235 residual, plus tax, plus DMV fees to buy the car. Car has 32,000 miles. Is it a good deal? I think the residual is too high. Please comment.
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    britgeezerbritgeezer Member Posts: 95
    Residuals are always a problem one way or the other. Its fairly rare for the purchase to work in your favor - boosting residual was a known way to lower lease pricing when they were considered good for volume by manufacturers. Look at the residuals $ and % in play now - typically quite a bit lower.

    A large number of leases have residuals that are unrealistic in todays market, the problem is the lease company is not interested to drop your price, that reflects on actual resale prices - its typically a different pocket if they take a bath when selling at auction.

    Don't know who your lease Co is, but I got the same approach with every lease end in the last few years.

    State Tax and DMV fees are unavoidable.

    Roos tend to hold their resale price well, so check out the local market for used ones with same spec and miles and decide what a known condition car is worth to you. :D
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