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But I'd like to know what others are thinking, based on their experience.... Is this a good deal? Should we go for it? We pay only first payment plus license plates and registration, which go to the state.
I leased the sedan because it was cheap... I'd rather have the hatch, too..
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I was also surprised to get this one particular dealer's prices, significantly lower than 2 other Subaru dealers in my area... He was also extremely professional and responsive to my emails, straight forward and honest, both while corresponding via email, on the phone and when meeting him.
Car_man
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Car_man
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I am also interested in the Subaru Impreza on the 36 month lease.
Can you tell us the residual for the Impreza 2.5i Premium with automatic
for the 4 door and the 5 door? and is the .00160 money factor good on both?
The .00160 money factor is only available on base i.e. non-Premium models.
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Using these prices, I estimate that this car will have a 36 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $313.
I used a residual value of 56% (of MSRP) to calculate this payment.
Car_man
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What's the residual and money factor (10 or 12k lease), 3 years. Edmunds lists a plethora of deals and the Subaru site mentions 339 a month.
By my best guess, it's 0.0023 MF and 61% residual for 10k.
Thanks!
This is from Car_Man's post Feb. 12th. Right above your question. Pretty sure nothing has changed in 4 days.
My reply about 2.5i base numbers was not directed to you. That's why it says "Replying to: r129" not "Replying to: blueguydotcom." I don't have any idea what the WRX numbers are. I didn't have any idea what the 2.5i base numbers were either. The only reason I RE-POSTED the 2.5i base numbers was because they were in plain sight 2 posts above.
My sincerest apologies for the 10 seconds it took you to read my post. I will consider 3 hail marys and a meal for an orphan as penance.
Mmm, hot filling, *ouch* burned my tongue.
Anyway, my local Subaru dealer had a 2.5i with an MSRP of $19,323 and a lease of $216/month for 36 months, 10K miles ($5 more for 12K; $10 more for 15K) with $999 down. That gives me a lease factor of 85. The Outback Sport I wanted had an MSRP of $21,045. Using the same Lease Factor, I get a monthly rate of $236, but the dealer quoted me $292. That’s 35% more for a car that costs only 9% more. I recognize that the residuals and money factors might change from model to model, but I didn’t expect them to be so different. When I asked, she quoted 63% and .00190 for the 2.5i and .00220 and 58% for the Outback Sport.
I also see that Mazda is promoting a $179/moth lease on the base car. Again, I wouldn’t think that the Sport should be $100 more per month.
Car Man, what are the factors for the Outback Sport for 36 months with 10, 12, & 15K miles and how much is the current rebate?
You really only need to worry about 3 things. Sale price, residual and money factor. Everything else is a moot.
I think what you are saying is the "real" value of the two $35,000 cars are $31K & $26K repectively but you can lease the MKZ with the higher real value for less? My "quick" factor cannot give you this information and that's when you need to find the residual & money factors, Again, it just points you quickly to the better leases and is probably more accurate to use within a particular model. I also recognize that some options are removed when calculating the residual as these are considered to be worthless after 3 years. Those would affect the actual payment byt not my Lease Factor.
BTW, I price a car on Edmunds to obtain the MSRP & TMV. I then try to get the factors from this forum and then plug those 4 values plus the local method and sales tax rate into a downloaded lease calculator to get a lease that should be acceptable and offer it to the dealer. Is there anything wrong with this strategy?
Note, I discussions in this forum, I'd suggest that all quotes be exclusive of sales tax as not every state implements them the same way. Some states just add the going rate to the MSRP, others might add it to the CAP cost, and here in PA, our 6% Sales Tax is not used at all. You just calculate the lease without any taxes and then add 9% Lease Tax to that lease cost to determine your payment.
TMV is worthless. You don't shop TMV. You aim for the best price - TMV is a sucker's bet. Even when leasing you look for the lowest sale price (if there is money/rebates/trunk cash then you want invoice minus that amount).
No worries about yearly registration, windshield wipers, fluid, bulbs, any maintenance, tires, all included with the Subaru Lease (it even says it in the brochure).
1 single oil change after 10,000 miles, that's all I have to pay for myself.
In addition, I am driving a new car every 3 years. Only backdraw is the full coverage insurance wise, but still.
Car_man
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Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Thanks for the info in #229, but in post #228 you said you calculated "around $301" for that outback Sport but you didn't actually list the factors. I used 58% and 0.00220 and go $300.86. In post #229 you listed 58% and 0.00280 as the factors for an Imprezza sedan, not the OBS. Anyway, could you please reconfirm the factors for the Outback Sport for both 12K & 15K miles.
Love the used 335i I bought instead but I feel the WRX is a better car in many respects: more room, better build quality, better engineering, lower maintenance costs. The 09 WRX is a great car.
I liked it too...what surprised me was how refined it was. No more noise than our Forester, yet a lot quicker and sportier.
My Miata has a 6th gear, but it's not tall enough, in fact overdrive is actually shorter than the 5 speed Miata. Odd.
Now through March 31, 2009 - $349 per month for 36 months with $1,599 due at lease signing. $0 security deposit. Tax, title and registration fees extra. Other leases available on other models. Cannot be combined with any other incentives.
Two questions...
Good deal?
Will I actually be able to find this deal?
Thank you!
Assuming 10K/yr, then not that great... also assuming no options...
If you turned it into a no money down, 15K/yr lease, then you'll be over $400/mo. including tax...
Not a bad lease program.. just nothing special..
regards,
kyfdx
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The .00280 money factor is killing the great 59% residual. That would be $110 of your payment. Forester, Legacy, Tribeca and 2 trims of the Outback would be half that.
Got in touch with a few local dealers yesterday - so far only heard back from one of them saying that they don't have anything in stock that meets the deal but could order one with 4-6 weeks wait.... Live in NJ so Colorado Springs doesn't do me much good but thank you anyway.
I'd need to get that mileage up to at least 12K (probably 15K) and roll around $3,000 in negative equity from my current ride into the deal so I think it's going to be too much for me... damn... thought they were supposed to giving cars away in this economy... guess it's only SUV's and American cars...
Subaru has never given away the WRX. Demand is too high. You're lucky to even find any at the end of March. Usually they are all gone. With 15,000 miles and $3K of negative equity your payment would probably be $505 with sales tax. Not worth it.
I am itching for a new upgrade, a WRX Premium , and have been toying with the idea of doing so before my lease it up (only 6 mo. to go). Problem is, I'm going back to graduate school for chemistry this fall and money will not be as plentiful as it is now with a FT job. I remember in Sept.-Nov. of 08, I was looking around dealerships for options and they kept trying to sell me on the leftover 08 WRX models that were fully equipped for the $250 price range. All good and dandy, but I really liked the 09s better. So my question is...
Can I get a deal, as close as possible to the price I have now, with a 09 WRX premium package now (in April/May) or should I just wait until I get closer to November for a better deal? :confuse:
I know the price range sounds crazy, but last year they were desperate to get rid of the 08s and I'm hoping they'll be just as desperate this year to get the 09s off the lot in time for 10s.
My car is very low miles (just hit 20K a few wks ago) and is very well maintained, so I don't know if I might be able to get any credit towards my new one. (And I'm assuming with the price I'm looking for, I should probably put at least put 1-2K down). But I guess it all comes down to the money factor and the residuals. Will they get better or worse closer to November? :confuse:
Opinions, suggestions, comments?
Thanks in advance!
So the WRX is probably out of my reach... Maybe a 5 speed 2.5i...
So I'm currently in a 1998 A4 1.8T AWD with 141,000 miles on it that I still owe $4,000 on (got it before I graduated, got a job, and fixed my credit.. had tiny payments and huge interest and now just want to be done with the darn thing)
KBB for fair condition is $2,600... runs pretty well considering the age (had timing belt replaced around 120,000) but interior is a bit beat up so I'd be happy (and lucky) to get $2,000 for it.
I guess I'd want to lease a basic '09 5-speed 4-door 2.5i for about 36 months with minimum due at signing... have them give me $2,000 for my car and I pay the other $2,000 at signing or have them roll it into the lease... Any idea what range a fair monthly would be on that?
Thank you for your time and advice, much appreciated.
MSRP: $20,839 (seems low based on the MSRP you gave for the stock?)
Invoice: $19,701
TMV: $20,008
Base Cap Cost: $20,000
Additions: $2,000 (balance on my trade if I'm lucky)
Residual: 61% or $12,712
Money Factor: .00220
Term: 36 months
Sales Tax NJ: 6%
Monthly: $334.37 + $20.06 tax = $354.43 and $350 was my sweet spot...
Did I do this right? Payment too high / low? What should I expect to pay at signing for fees etc..? I'm going car shopping later today and will probably try to get this deal...
Thanks again for the help - I would have been absolutely clueless
2009 5 speed Impreza (9JC) Sedan Premium Package w/ ipod hookup and subwoofer.
MSRP: $21,428
Cap Cost: $20,271
Rebate: ($1,000)
Fees: $797.50
Tax: $672.81 (paying at signing)
Motor Vehicle: $250.00
Adjusted Cap Cost: $19,271
Due at Signing: $1,959.52
Monthly: $239.21
Your numbers were right on: 60% residual and .0019 money factor
36 months, 15,000 miles per year. $300 disposition with $0.15 over mileage charge.
The kicker - they are giving me $3,000(!!!) for my Audi and I'm just going to pay off the remaining balance of $1,000 up front (they would have rolled it in but I prefer it this way)
One problem - they didn't have it in stock. They said they will find it for me (left them a fully refundable $500 deposit) So I'm wary of a bait and switch in which case I'll walk away, but as long as they deliver I'm going ahead with the deal!
Just hope my credit doesn't kill the deal, they didn't run it yet but it's 650 to 700 range.... guess I'll find out Monday.
Thanks so much the help!
You'll need a credit score of 700 or higher to qualify for the top tier .00190. Good luck.
Experian - 656
Equifax - 679
Transunion - 690
Any idea what the money factor on the next tier is so they don't bump it higher than it should be?
Thanks
Here are things that could change the rate:
1. In post #243, Chuck wrote that 61% and .0019 are for 15,000 miles per year. If you want 12,000, I'd expect the residual to be higher. That's good for you. Check these boards to see if it's posted.
2. The "internet" price and rebates usually apply to purchaseprice. The fine print usually says it cannot be combined with other offers (like the .00190 MF). Therefore, you might not get $21,407 as your base cap cost in the lease calculations.
3. Different States apply the lease sales tax differently. Some add the the sales tax percentage to the cap cost and roll into the lease, as you did. Others, like here in PA, use a different percentage and add to the monthly lease price.
Go to the incentives portion of Edmunds to see the special lease deals available to the Subaru's. Good luck.