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2013 and earlier-Subaru Legacy Lease Questions
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Comments
Thank you. Thank you. Thank you!!!
I was on my way to the dealer, stopped home for the title and thankfully checked my email. I had my father with me and we were so thankful for your guidance. I did not go through with the deal. After sharing with him your findings, the dealer offered me:
2009 Legacy Special Ed (instead of the LTD)
$5000.00 cash for my car (2003 PT Cruiser GT- with all the extras in good condition)
$280.00 monthly/36/12,000 - no hidden fees- all taxes included, included Philadelphia, PA tax
Dealer also will add the leather/heated seats in the SE (as I liked them in the LTD)
It was late and decided to make the decision tomorrow- now today 4/7
My dad and I thought it sounded pretty good. Your thoughts if I could inquire again?
One other Q-- I saw a review on consumer reports which stated the car had a problem in emergency situations with "It loses major points for handling that gets tricky in emergency maneuvers. " I think the review was not current even though it came up on a 2009 search. Didn't find any reivews that duplicated that-- any knowledge here. Sorry for the note length!!!! Thank you!!!!
DId you edit this message? I thought it expressed a negative response and requested additional? Well , here are the details-- YES, cash for my car and NO i would keep it and put it toward the payments.
Well here is the info supplied from a second dealer:
MSRP: 25,903 SUBARU LEGACY SE (NOT LTD)
SALES PRICE: 21.575 (includes leather seats - heated added in by dealer)
INCLUDED ALL FEES w/exception of $187.00 tags and reg
57% RESIDUAL $14,764.71
.00170 MONEY FACTOR
my credit: 773
10% PHILA. SALES TAX rate
36 mth/ 12,000 mi year
My car: I receive $5,000 cash (2003 PT Cruiser GT- very good cond)
The dealer does state inspections at no cost to me for the 3 years
(after 3 years if I don't buy a SUBARU- I pay $300.00 bank charges)
I truly appreciate your help-- you have been a WONDERFUL resource and I am so very grateful!!!!!!!!
5,000 cash and $280 X 36 mo -- everything included. I drove the car home minutes ago. If you were local, I would send you a cake! Blessings!!! I am amazingly thankful to you!!! I am praying blessings to you this evening and the Lord to give you the desire of you heart in His will.
2009 Legacy SE
MSRP 22900
Deal - 20565 (after $1500 rebate and plus the $695 destination charge)
$256 /month (271 with tax) pay only $271 and drive away.
I was looking to get to $250 and they said if I put $500 down + $250 first month I'd be on my way.
I seriously doubt I can find a better offer...thoughts?
Now, if i can just convince the wife.... :P
and what mileage per year?
Manufacturer's List Price : $23,825.00
Heuberger Motors Internet Price: $19,677.00 (Including $595 Acquistion Fee).
The Legacy SE I'm looking at is almost $1,000 higher MSRP and is almost $1,000 lower sale price. That equals $241.69 monthly payment on a 36 month/ 12K per year lease including my 7% sales tax and ZERO down. The only reason I haven't signed the lease agreement yet is I have one dealer telling me they can add the $1400 Special Edition discount back onto MSRP to calculate the residual and one dealer telling me they can't/won't do that. The dealer that will doesn't have the car I want. If I can convince Heuberger Motors to use the pre discounted sticker price of $25,225 my monthly payment will be $219.45 including tax.
You should be able to get a loaded out 2.5i Limited for $275 a month with zero down. I'd hold out a while longer. Plus, the 2010 Legacy is going to be completely redesigned so the 2009's will soon be even less attractive. Hold out 1-2 more months and you'll be able to get a 2009 for under $200 with nothing down.
The MSRP was the same as yours (chuck), i just used the Edmunds MSRP. They are e-mailing me the sticker today so I can compare it.
As far as residual, I am using the $14,XXX from the Subaru website on the details of the lease offer.
Big question, when using an online lease calculator, I couldn't get the standard Subaru lease offer to work without removing $300, so that is what I was using as a baseline. Do you happen to know where that comes from?
When I get home and see the sticker price, I will put all the details in.
Thanks for your help!
Residual is 57% and MF is .00170 on a 36 month lease. The actual figured MSRP $23,825 (plus $1750 Special Edition Discount) is $25,575. Actual residual value is $14,577.75. Cap cost including acquistion fee of $595 is $19,667. Monthly payment is $213.87.
From Subaru's Website: "Now through April 30, 2009 - $199 per month for 36 months with $1,999 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. Offer ends April 30, 2009. MSRP $22,990 ($695 includes destination delivery charge). Total net capitalized cost after $1,500 lease cash of $19,184 includes $595 acquisition fee. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, dealer documentation fees, options, insurance and the like. Not all buyers may qualify. Dealer participation may affect final cost. At lease end, lessee responsible for vehicle maintenance repairs not covered by warranty, excessive wear/tear and 15 cents/mi. over 12,000 miles/year and $300 disposition fee. Total monthly payments $7,164. Option to purchase at lease end $14,102."
This ADVERTISED "LEASE DEAL" is with $1999 down and does not include tax. The ZERO down payment would be $256.68 NOT INCLUDING TAX. That's $57.78 more than my deal pre-tax.
As you can see, the advertised "LEASE SPECIALS" on the Subaru website are absolutely useless. Anyone can get a WAY better deal than that. Just concentrate on the lease numbers and getting the dealer to go WAY under invoice price. Everything else will work out.
To further illustrate the ridiculousness of the Subaru website's "LEASE SPECIALS" I also have a quote for a ZERO down 10,000 mile/ 36 month lease of a 2009 Tribeca Special Edition MSRP $32,753 including 7% sales tax is $373.
Website says:
"Now through April 30, 2009 - $319 per month for 39 months with $2,999 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.
Offer ends April 30, 2009. MSRP $31,990 ($695 includes destination delivery charge). Total net capitalized cost after $2,500 lease cash of $25,711 includes $595 acquisition fee. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, dealer documentation fees, options, insurance and the like. Not all buyers may qualify. Dealer participation may affect final cost. At lease end, lessee responsible for vehicle maintenance repairs not covered by warranty, excessive wear/tear and 15 cents/mi. over 10,000 miles/year and $300 disposition fee. Total monthly payments $12,441. Option to purchase at lease end $15,693."
That advertised $319 a month is with $2,999 down and DOES NOT include sales tax. Subaru's ADVERTISED LEASE with ZERO DOWN would be $408.05 not including tax. That's $59.05 a month more than my pre-tax deal.
They are offering me 20,565 after the $1500 lease cash. I think they are not including destination, and I just called them out on that. I usually never have a problem getting dealers under invoice, but there are barely any Legacys on the lots out here...so it makes it tough.
Also, you mentioned waiting for the 2010's to come out....wont that reduce the residual and make the actual lease prices go up? I've run into that in the past.
Thanks again for the help.
How are you figuring out your numbers? I am using a lease calculator online and i ran the scenario of $25042 (MSRP +$1700 SE discount) - Negotiated price at Edmunds invoice of $21921 (including destination) + $595 acquisition fee -$1500 rebate, 0 down (net cap cost of 21016) 57% residual ($13305) and money factor of 0.00170 for 36 months and I came up with $272.54 + tax. Am I missing something.
I usually don't lease so I am trying to wrap my head around all the numbers that can be played with before I make a deal.
Thanks again!
Your adjusted MSRP is $23,342. Add the Special Edition Discount of $1750 back onto that, $23,342 + $1750 = $25,092. Residual is 57% of that = $14,302.44. If your sale price is INVOICE it's kind of high but using the net cap cost of $21,016 minus the residual of $14,302.44 = $6,713.56 divinded by term of 36 months = $186.49. Next, take residual, $14,302.44 plus net cap cost of $21,016 = $35,318.44 multiply by MF of .00170 = $60.04. Add $186.49 plus 60.04 = your pre-tax payment of $246.53.
As I said, if you are going with invoice, you are doing yourself a disservice. You should easily be able to negotiate to well below invoice. I'm at $19,072 sale price on an MSRP of almost $500 more than the one you are looking at.so you should be at $18,500 at least.
As far as finding a better deal goes, you can do everything by email and even have a delaer FedEx you the paperwork. Don't just settle with what you can get locally. Check all the high volume dealers in your area. Worst case scenario, you fly from Kentucky to Denver, CO for less than $220. The dealer can/will pick you up from the airport even. I'd do it to save myself over $2,000 in higher payments.
Options Include:
•All Weather Floor Mats
•Auto-Dimming Mirror w/Compass
•Convenience Group 1
•Off Black Center Armrest Extension
•Rear Dome/Reading Light
As you can see, if one dealer can sell a car for $19,072 probably ALL dealers can do so. This price quote was after one email. I've been back and forth with my dealer several times to reach their final "BEST" offer. Keep after them. You can now tell your dealer that Joseph Subaru is at $19,434 and "CAN YOU AT LEAST MATCH THAT PRICE?" Pit them against one another.
Just my $0.02...
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Thanks again!
When negotiating your lease on this car, make sure to use the $1,500 cash incentive that is available on it to negotiate an attractive capitalized cost.
Car_man
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24 mnth 12k/15k
36 mnth 12k/15k
Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Legacy 2.5i SE with 15,000 miles per year are .00130 and 54%, respectively.
I didn't mention the 24 month info because Subaru is no longer providing support on two year leases. As a result, it doesn't make sense to lease one for that short a term.
Car_man
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What's the current money factor and residual for a 36 month lease on a 2009 Subaru Legacy 2.5GT Limited?
12k miles/year.
Thank you!
Subaru's May buy rate lease money factor and residual value for a 36 month lease of a 2009 Legacy 2.5 GT Limited with 12,000 miles per year are .00165 and 48%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on it.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Thanx for all of your help!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Could i get the numbers for a
Subaru Legacy 2.5i Special Edition manual transmission
2/24 and 3/36
Thanks!
Anyone know which dealers are offering this?
As the 2010 will be here soon, and there are a lot of '09s left to clear, I'd assume these deals can be pushed better.
Thoughts? Info?
I know residual factors into play here, but I can't see how the residual on an auto special edition (with Harmon Kardon stereo) 2.5i will be any less than the ones before.
Both are special edition. They wanted $229 for the automatic, and then knocked $10 off per month.
10,000 miles per year - working on getting them to 12,000 per year as they want 10 cents a mile above 10,000 pre-paid.
10,000 miles isn't many.
There were a LOT of Legacies on their lot.
Fit and finish was decent. Suspension was okay.
Acceleration was abysmal.
Front and back sear were compact size - seriously, and the trunk was very small.
The Accord, Camry, Mazda6, Malibu and even Fusion dwarf the Legacy.
The Legacy is literally the size of a Corolla. No wonder they're upsizing it in 2010.
Test driving a car is essential.
The small size didn't stand out until the last model year, simply because those competitors were updated a year ahead of the Legacy.
The Corolla uses a compact torsion beam suspension design shared with the Sienna minivan, clearly they put a priority on space and packaging over handling (like you said, go test drive one, you'll agree).
The Impreza got a much longer wheelbase so it basically occupied that slot, so it made sense to up-size the Legacy.
Drive a 2010 - a couple of early impressions I've heard were both very favorable.
36 mo, 12,000 -- $270 / mo with $0 out of pocket (all taxes and other fees rolled into that price...35 payments as 1st is payed by subaru).
How'd we do?
Looking for 12K yr miles, 36 or 39 months with $2K out of pocket at signing. What can I expect to be paying excluding taxes. Please also let me know what other fees are included in your price and what the residual price is on this vehicle. Interest rate or finance factor if you have it also.
Many thanks Car_man
Car_man
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Again, this is for a base model with no options. It is unlikely that you will find a stripped Legacy like that. The addition of options, as well as sales tax, will increase the above payment.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Additional mileage should be 10 cents a mile if you prepay, or 15 cents a mile if you don't.
If you paid more than these amounts, the dealer got you for some extra coin.
$0 due at signing. Tag, taxes, dealer fees and first payment were paid by the dealer. I did transfer my tag.
$244 + tax per month.
36 months
12k miles a year
Window tinting was included as part of the deal.
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Having a Legacy in South Florida is rare; even my neighbors didn't know at first what car was it and they liked it. It's a bummer that frameless doors are gone for MY 2010 Legacys.