Is this a good lease deal for a 2020 STI Base Model?

krnsamiam84

Hi,

I have decided to go with a lease on a 2020 STI Base Model in Crystal White Pearl with no options.

Here is the breakdown of how much the car is and the OTD:

2020 STI Base Crystal White Pearl no options:
Car Price: $34,399.00
Document Fee: $85.00
DMV Filing Fee: $30.00
Tire Fee: $8.75
DMV: $463.00
Sales Tax (CA Tax): $2,920.14
OTD: $37,905.89

I am planning to do a 36 months (3 years) with 10,000 miles a year and will be putting a down payment of $5,000 to lower my monthly payments. Below is a breakdown of the lease:

MSRP: $37,895.00
Mileage: 10,000 miles a year
Residual %: 62.00%
Residual Value: $23,494.90
Initial Cap Cost: $34,399.00
Bank Fee in Cap: $595.00
Accessories: $30.00
Doc Fee: $85.00
Adjusted Cap Cost: $31,226.56
Term: 36 months (3 years)
Money Factor: 0.00155
Base Monthly Rental: $299.57
Monthly Use Tax: 8.50% ($25.46)
Total Monthly Payment: $325.03
License: $461.00
Total Cap Reduction: $3,797.44
Cap Reduct Tax: 8.50% ($322.78)
Cash Down: $5,000.00
Total Working Cash: $5,000.00
Drive Off: $5,000.00

I wanted to get some input and feedback on this lease. Is there any part of the lease that I can negotiate?

Thank you,

Michaell

krnsamiam84 said:

Hi,

I have decided to go with a lease on a 2020 STI Base Model in Crystal White Pearl with no options.

Here is the breakdown of how much the car is and the OTD:

2020 STI Base Crystal White Pearl no options:
Car Price: $34,399.00
Document Fee: $85.00
DMV Filing Fee: $30.00
Tire Fee: $8.75
DMV: $463.00
Sales Tax (CA Tax): $2,920.14
OTD: $37,905.89

I am planning to do a 36 months (3 years) with 10,000 miles a year and will be putting a down payment of $5,000 to lower my monthly payments. Below is a breakdown of the lease:

MSRP: $37,895.00
Mileage: 10,000 miles a year
Residual %: 62.00%
Residual Value: $23,494.90
Initial Cap Cost: $34,399.00
Bank Fee in Cap: $595.00
Accessories: $30.00
Doc Fee: $85.00
Adjusted Cap Cost: $31,226.56
Term: 36 months (3 years)
Money Factor: 0.00155
Base Monthly Rental: $299.57
Monthly Use Tax: 8.50% ($25.46)
Total Monthly Payment: $325.03
License: $461.00
Total Cap Reduction: $3,797.44
Cap Reduct Tax: 8.50% ($322.78)
Cash Down: $5,000.00
Total Working Cash: $5,000.00
Drive Off: $5,000.00

I wanted to get some input and feedback on this lease. Is there any part of the lease that I can negotiate?

Thank you,

A few observations.

Sales tax on a lease in CA is assessed against the monthly payment, not the selling price.

The lease program from Subaru Motor Finance shows the MF as .00205 and the RV as 65%. My guess is your dealer is using a local bank or credit union to fund this lease - we aren't able to confirm those lease numbers.

We do not recommend putting $5000 down on a lease - it may seem like you're saving money, but you aren't changing the total cost of the lease. Worse, if the car gets stolen or totaled, you lose that up front money. In CA, we recommend only the first payment and DMV costs be paid when you sign the paperwork.

If you need to have a lower payment, shop a less expensive car.

kyfdx

@krnsamiam84

Any chance this quote was from last weekend?

These look like February numbers.