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2013 and earlier-Subaru Legacy Lease Questions
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what kind of payment different would I see between the .00120 money factor and the .00160 that they used. Is that .00120 published somewhere so I can "prove" what it should be?
Thanks again
Anyone? Car_man?
TIA
150/mo ($161/mo after San Diego Sales Tax), 999 down (covered all the other taxes licensing), 2 year lease, 10k miles/year. Legacy Special Ed, w/ moon + auto.
DO NOT FORGET -- when you sign they hit you with a $300 fee at lease end when you turn in the car @ the end. Non negotiable.
Original monthly price was $161, we bargained it down to $150(in lieu of free oil changes)--which they accepted without batting an eye. Makes me think that you guys can do a lot better if you pressure them--we could have, but we didn't. 12k and 15k miles were only a little more, but don't need the miles. This was at Bob Baker Subaru. Irvine still has tons of these things.
I recently leased a 2008 Legacy 2.5 SE in the Obsidian Black.
The car is well built and drives well but I realized I need something sportier. I was wondering if anyone would be interested in a lease assumption for this vehicle? It's an auto transmission and I've only had it for a week thus far. My current lease payment is 242/month with 23 months remaining and 12K/year. I'm in SoCal and I would want to deal with people I can meet face to face I guess. Please message me if anyone is interested and/or wants additional info. Thanks )
Thanks much!
Car_man
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Car_man
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Car_man
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Thanks for all of your help. I did finalize a deal on the Saab this weekend.
You negotiate a lease of 199/month for 36 months on a new Subaru. After fees, security deposit, and other costs at signing, averaging this over the cost of the 36 months now becomes around 250/month (this would mean about 2000 due at signing).
At the end of the 36 months, you have paid $9000 for the lease. The lease is over. You either now 1. buy the car outright from the dealer, which means you basically pay the MSRP on it or 2. get another lease, but nothing counts towards the next lease.
In other words, in that same 36 month period, with financing, I could:
Finance a purchase at 22,000 "out the door" for 366.00 per month (for 60 months) without any down payment. This becomes 13,176 at the end of the 36 months, but if I decide to sell my car and get a new car, in theory, I should be making some of the money back, right?
I guess my question boils down to:
- Does the money "spent" on the lease (9000) end up costing less than the deterioration of the finance when you go to trade it back in? (Is the car's value going to drop by more than 9000)
This deal is not quite as good as the one in June but it is still a smoking deal for a car that stickers out at $22,000 plus, has all wheel drive, traction control, moonroof and Harmon Kardon stereo.
I think if you don't like selling your car yourself, and will get wholesale trade from a dealer, then the lease may actually end up costing less over 2 or 3 years.
Why? Well, the dealer offered us only $5300 for our 2002 Legacy. We sold it private party and got $8000. It takes more effort, but resale is very good on Subarus if you take your time and sell it yourself. I think it would be hard for a lease (or multiple leases) to beat that.
We kept the car for 6 years. We paid $17.6k plus tax, so it only cost us $10.5k for those 6 years (plus opportunity cost of that money). Let's call it $12 grand, assuming you know how to invest well.
I doubt two 3-year leases will cost that little. Using your numbers you'd be out $18 grand, and for that money at the end of 6 years I'd still own a car, the leasee would have nothing.
The advantage of the lease is you have a new car every 3 years, though.
Cheaper? Probably not.
Better? If you like new cars, and especially if you trade old cars for wholesale, then I'd say yes, it's worth it.
My family just bought 3 subaru SE legacy 24 month leases (all different colors, heh). The deal was too good to pass up, 80% residual on a car is unheard of. It has all the amenities that you could ever need, PZEV, harmon kardon, good gas mileage, electric drivers seat, alarm, 16inch alloys, dual exhaust, and disc brakes all around (My friend bought a 2007 accord, and it has rear drum brakes, what gives?), and AWD.
Cost of ownership with tax (cali 7.75%) for 2 years at 12k miles a year is $5,444, $139 a month with 2k down. I have searched and searched and there is no deal like that around for a new car. I don't think you can even compare a base accord with the legacy special edition, you get a lot of car for such a low price on the subaru. The lease even includes Gap and you can prepay the disposition fee up front for ~$150 instead of 300 at the end, plus they give you around $1k for minor dings and wear and tear at the end.
It is a jp morgan chase lease, and either they want high credit score leases on their books or someone made an error using an 80% residual.
Car_man
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http://www.edmunds.com/new/2009/subaru/legacy/101016539/incentives.html?vdp=off&- tid=.n.incentives.incentives.4.3.Subaru*&setzip=33040
09 Subaru Legacy SE
Manual Tranny
12,000 miles / Year
$0 Down
$215 monthly payments
That is an awesome deal. Not sure what they are using for residual and money factor. But I been thinking of leasing a Legacy for awhile. I personally want the GT(not need) but I might have to settle for the SE.
A local dealer is offering the same vehicle for 24mo/20K miles for $159/mo. with $999 total due at signing..
That's probably the best deal going, on anything, right now...
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I'm looking to add Leather, sat. radio and 15000 mi. Will be around $300/mo. with nothing out of pocket (sorry $8 out of pocket). Also dealer pays first payment so you only make 23 payments. We're talking a car with moonroof, 380 watt stereo, DSC, leather, power seat, XM, alloys, AWD, etc. Fabulous deal. I'm just waiting for my color to arrive and than make the deal.
My understanding is that the residual is a mind boggling 80%. I don't think I've heard or residuals even of 70% on a 2 year lease. I've been looking for the better part of two years so obviously I've had a tough time making up my mind. A test drive and this lease deal and I made my decision in one day.
'
They're subsidizing it, for sure.
Someone mentioned Honda using rear drum brakes in their relatively new cars - and mid-level cars too like the Accord & Civic. I've noticed that Honda's really fallen behind in terms with some technological advancements. They don't have Tiptronic transmission options (Shifttronic in Subaru lingo) and they appear to be lacking features compared to the competition. For instance, my `00 Civic LX didn't have ABS, Intermittent Wipers, a second Power Port, etc. Everything in the car was analog, while a lot of competitors were already featuring digital dashboards & trip computers. I don't think Honda started offering that until the 2007ish remake.
The one thing that annoyed me about the new Legacy is that it's still only a 4-speed transmission, I was hoping for a 5-speed for better efficiency on the highway, but I'm over it already. The Legacy is loaded with features that more than make up for it.
The biggest question will be in 3 years from now when the Legacy is paid off -- will my wife let me get a WRX STi to play around with (And on that note - I hope they go back to the mid-2000's styling, I am not very impressed with the 2008/09 remake for the Impreza)
Subaru takes the risk - they buy it back at that value whether it's worth that much or not. Often manufacturers will gamble on high residuals just to lease more cars. Some times it works - BMW residuals are high (so are Subaru's).
Some times it backfires. See Chrysler.
They had to eat such huge losses, they stopped leasing entirely. Chase bank followed suit, and will not lease Chrysler cars either. Residuals are low and I would expect them to drop further.
It doesn't work for anyone who wants to buy the car when it goes off lease. Then the purchase price is way to high because of the high residual. I'm planning on doing the lease because it's just a great deal. But obviously it will force me back into the car market in two years.
The dealer also offered me an even better deal that I may consider. Prepay the lease in total up front and the cost of the lease is even lower. Probably a savings of $500-600 over making the payments. Since I have an equity of about $4000 in my trade that would mean I have a paid up 2 year lease with about $2900 out of pocket plus my trade. Not bad especially for this well equipped car.
One issue that has to be checked out is what would happen in a prepaid lease if the car got totaled or stolen prior to lease end. Do you get back the pro rata portion of your money attributed to the unused lease period or are you up the creek for those funds. The salesperson is checking into that. I think I'd want something specific in the lease contract or something in your insurance policy that deals with that issue.
Yup.. that's how most pre-paid leases work.. As opposed to just making a big CAP cost reduction, which puts that money at risk...
regards,
kyfdx
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Does anyone know if it is 80% for all the trims?
09 Legacy Limited
$23,907 price (I get below invoice b/c my employer)
$1500 down
$344 month (includes tax)
36 months - 15K miles/yr
$15,844.75 residual
.00255 money factor
Thanks for your help!
However, the SE model has such a great lease deal you might want to consider it.
I was quoted 320/mo.(inc tax) on a two year,15000 mi lease with nothing out of pocket. The price would have been $50/mo. lower but I added aftermarket leather, XM radio and 15000 mi up from 12000 on the standard lease.
The limited has some extras but if you can save 50-100/mo. and a 1500 downpayment I would think that would be a great alternative.
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This is a two-year, 12K miles per year, sign-and-drive lease. I only had to pay the first month's payment, title/license/registration/etc., and the $99 service fee. (It came out to about $520 up front.)
My Legacy stickered at $22,943, and aside from the $300 Special Edition package (power moonroof, power driver's seat, and Harman Kardon audio system), the only other options that my car has are the automatic transmission ($1000) and auto-dimming rearview mirror ($183). BTW my car is Seacrest Green with the cream-colored interior.
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Ironically, I may have to wait until next month because of lack of SE models in my area. My discussions with my salesman indicate there shouldn't be too much difference in the lease price as the belief is that Subaru will provide some additional incentives to offset a drop in residual value.
Just got quoted on a lease and wanted to see if you thought it was a good deal.
2009 Legacy Special Edition
Price = 21,510
Residual = 79%
Money factor = .00330
2 years / 15K miles per yr
monthly pmt = 271.11
Upfront charges = 596.61 (includes first pmt)
This model included some factory installed options:
- spoiler
- extended arm rest
- automatic transmission
Please let me know what you guys think. I would love to try to get the pmt closer to 250/month.
Thanks!
Cost: $20,550
Money Factor: 0.00280
Risidual: 78% = $18,663
Down Payment: $215 + $595 (Aqu fee)
License fees: $161.50
Doc Fees: $50
24 Months @ 12,000 miles a year
Payment: $217 + tax
That is like $1000 up front in charges!!! When people have been getting off with barely nothing.
My deal would have no license fee only a plate transfer fee of $8. Don't no anything about the doc. fee. All this stuff is just another way of charging more. Come on, an acquisition fee? What acquisition is that. In reality it's another way for the lessor to charge 600 bucks to the deal. Its become so common that people just presume its some legitimate expense. I leased my last 3 cars from 1996 to 2003 and not one had an acquisition fee. Now a days virtually every car has one. So other than being a fancy phrase to charge money I don't think it is anything that "has" to be charged.
Is this a good deal?
Thanks in advance
The residual on the Limited is significantly lower than the SE. It has a few extras for the price but I'm not sure it justifies paying that much more.
I got a quote with after market leather, XM and 15000 miles. $320/mo inc tax for 2 years with 8 dollars out of pocket. If you really want the Limited you'll have to pay a premium on a lease it would appear.
Today I put down a deposit for a 2009 Legacy SE lease. I upgraded to a spoiler, fog kit, splash guards, mats, and armrest extension. Can anyone review the numbers and see if they sound any good? This is for a 24 mth./15K lease.
MSRP with extras = $24,087
Negotiated Price = $22,461 (Supposedly $100 below invoice through a deal with my employer)
Residual = 78% = $18,787
MF = 0.00313 (This seems very high as I qualify for Tier I credit)
Payment = $269/mth.
I am putting $1000 down to cover taxes(8.75%) and part of the acquisition fee....which they are charging $895 for? This cannot be right. Can anyone advise me on the correct Tier I money factor, acquisition fee, and other numbers if possible? TIA
Today I put down a deposit for a 2009 Legacy SE lease. I upgraded to a spoiler, fog kit, splash guards, mats, and armrest extension. Can anyone review the numbers because they don't look good to me. This is for a 24 mth./15K lease.
MSRP with extras = $24,087
Negotiated Price = $22,461 (Supposedly $100 below invoice through a deal with my employer)
Residual = 78% = $18,787
MF = 0.00313 (This seems very high as I qualify for Tier I credit)
Payment = $269/mth. which includes $895 acq. fee????? and $1000 down to cover taxes(8.75%), first payment, $88 cap reduction,and $75 in DMV fees
This cannot be right and there have to be more hidden charges than the bloated acq. fee. Can anyone advise me on the correct Tier I money factor, residual, acquisition fee, and a good negotiated price on this vehicle? TIA
Residual sounds right.
MF is too high. If you are tier 1, there is no way that the MF is .00313 = 7.5%. I am tier 1 and I got like......00.0027??? Something like that, which equals almost an entire percentage point in interest.
Acq fee!!! Get that thing off. That is complete BS and let them know that it is BS.
Where are you located? Because the market for the Legacy can vary greatly. Also, maybe the MF is different across the country. Carman - Can the MF be different for different parts of the country?
I believe the $2500 down is strictly taxes and fees.
To reitererate:
2009 Limited with spoiler, dimming mirror, all weather mats
MSRP $26,645
Purchase Price $25,413 (includes $500 dealer cashback)
Residual $16,520
12,000 miles, 36 months
$329 monthly payment with $2500 down
Mary
2009 Legacy SE
5 speed manual transmission
auto dimming mirror
extended armrest
24 months
12K miles/year
$400 down (includes 1st payment)
$215 + tax / month
Residual 78%
Residual $18,XXX. Not planning to buy at end of lease, residual is too high.