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Prices Paid: Buying & Leasing Experiences Subaru Forester Lease Questions
368 messages, Last post on Nov 28, 2009 at 4:54 AM
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Replying to: Car_man (Jan 09, 2009 3:59 am) |
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Replying to: Car_man (Jan 09, 2009 3:59 am) TMV shows a deal at subaru on a lease of a 2009 2.5XLT Limited w/VDC with no navi msrp 28,890, 10k miles/yr, 595 acqui fee, 1000 dealer incentive, cap reduc down pymnt $1,150, 36 months at $308 b4 taxes. At $28,890 msrp, it looks like it is the $28,195 base plus $695 utility pkge. i went to the dealer today and they said that was one of the deals in the national program. I also found out the following - it's based on a residual of 60% and mf of .0016. Oh also, it conveniently doesn't include destination fee of $665 (which would raise the monthly lease payment from $308 to $317). I like the car, but am interested in a $12k mile lease and no utility pkge. The sales guy said the residual would drop by 1% to 59% for moving from 10k to 12k miles/yr. Also, I don't want to put the $1,150 down and also don't want to work from msrp minus 1,000 dlr incentive. I assume even though this is a national program, i can negotiate the lease - right? This kind of slipped my mind in the showroom until the guy said he would take care of the last payment of my current lease. so i left and went home to do some more homework. TMV shows invoice at $26,384 and that others are paying $26,639 so $255 over invoice. i recalculated the lease numbers based a no utility pkge car with msrp $28,195, 12k miles/yr, $595 acqui fee, $665 destination, and a $26,639 cap cost (no down payment, no dealer incentive). this results in a lease payment of $398/mo b4 tax. a few questions: - am i correct on the above statement/numbers - is the dealer incentive of 1,000 only available if i do the national program and work from msrp or should i expect that i should offer $26,639 minus $1,000. - should i come in lower then $26,639. edmunds shows subaru holdback of 3% of msrp (might vary in northeast - where i live). 3% of msrp is $845. guidance appreciated thanks
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Replying to: tsxowwner (Jan 17, 2009 8:47 pm) found a few errors in my post so i fixed and reposted TMV shows a deal at subaru on a lease of a 2009 2.5XLT Limited w/VDC with no navi msrp 28,890, 10k miles/yr, 595 acqui fee, 1000 dealer incentive, cap reduc down pymnt $1,150, cap cost $27,335, 36 months at $349 b4 taxes. At $28,890 msrp, it looks like it is the $28,195 base plus $695 utility pkge. i went to the dealer today and they said that was one of the deals in the national program. I also found out the following - it's based on a residual of 60% and mf of .0016. Oh also, it conveniently doesn't include destination fee of $665 (which would raise the monthly lease payment from $349 to $358). I like the car, but am interested in a 12k mile lease and no utility pkge. The sales guy said the residual would drop by 1% to 59% for moving from 10k to 12k miles/yr. Also, I don't want to put the $1,150 down and also don't want to work from msrp minus 1,000 dlr incentive. I assume even though this is a national program, i can negotiate the lease - right? This kind of slipped my mind in the showroom until the guy said he would take care of the last payment of my current lease. so i left and went home to do some more homework. for a no utility package 2.5xlt limited, TMV shows msrp $28,195 invoice at $26,384 and that others are paying $26,639 so seems to be $255 over invoice. i recalculated the lease numbers based a no utility pkge car with msrp $28,195, 12k miles/yr, $595 acqui fee, $665 destination, 36 mo., 59% residual and a $27,899 cap cost (no down payment, no dealer incentive). this results in a lease payment of $374/mo b4 tax. a few questions: - am i correct on the above statement/numbers - is the dealer incentive of $1,000 only available if i do the national program and work from msrp or should i expect that i should offer $26,639 minus $1,000. - should i come in lower then $26,639. edmunds shows subaru holdback of 3% of msrp (might vary in northeast - where i live). 3% of msrp is $845. - also where does excise tax fit in with the monthly payment - what else should i be thinking about. guidance appreciated thanks
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Replying to: tsxowwner (Jan 17, 2009 9:26 pm) My second thought on your post is WHAT IS THE UTILITY PACKAGE? Never heard of it, never seen it, never seen it at Subaru.com. The only $695 cost on any/all window stickers I've seen was the Destination Charge. Since June 08 it went up from $665 to $695. I think you may be confusing those numbers.
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Replying to: indianajohns (Jan 18, 2009 7:34 am) the salesguy had told me $28,890 didn't include destination (hmmm). So I assumed if that was the case - in order to get to $28,890 from $28,195, it had to include an option. On Edmunds, if you choose the forester w/ 28,195 msrp and then click options, it's lists a utility package for $695. here is how it is listed. F9V Utility Package Includes aero cross bars, wheel arch moldings, rear bumper cover and splash guards INCLUDES U9B and Q9L and P9J and P9A. That said, I still think you are right. On your first point - I didn't even consider under invoice. Invoice on edmunds shows $26,384. Based on $500 under, this would make a 12k, 36 mo lease, 59% resid, .0016MF and 26,979 cap cost, a monthly of $332 b4 tax. Seems like a pretty good deal. i have a few questions - you mentioned "plus any rebates". I am not aware of any - are you? There is the $1,000 dealer incentive, but if i am asking for $500 under invoice, would that apply on top of it? - is $500 under invoice dipping into the holdback or something else? The only other issues i am running into is of all the 2.5 XLT's listed on dealer websites in massachusetts, none are $28,890 since most have a few add ins. I guess if i can get it for under invoice, i am not too concerned with a few adds ins breaking my budget. The other issue is, looking at the inventory, there is a limited supply it seems of the 2.5XLT. most dealers list between zero and four of them.There are a ton of the 2.5XL's. Since the supply is low, do you think this will limit my ability to get $500 under invoice? Is the answer any different if they don't have one on the lot and need to get from another dealer. certainly, i have a number of subaru dealers around me so i probably will go to the one with cars on the lot. thanks in advance for your responses on the various questions above.
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Replying to: tsxowwner (Jan 18, 2009 9:53 am) Also, Edmunds definitely needs to update the changed Destination Charge. It has been $695 for over 6 months now. I said I was getting quotes of $300-$500 under invoice plus any rebates on several Subaru models. The only bad thing is that there are none available on the Forester. I am not even aware of the $1,000 dealer incentive you are mentioning. If there is a $1,000 dealer incentive then it would theoretically apply. Supply and demand would dictate your ability to get a good price. I haven't even seen a Forester 2.5XT at any of the dealerships I've visited. They may be more unlikely to want to deal on a vehicle that is in short supply. I would definitely look at getting the non-turbo 2.5X Limited if that was the case. It would be way cheaper MSRP wise ($2,200) and also you could easily negotiate a selling price well below invoice. You could get a 2.5X Limited with Navigation for way cheaper than a 2.5XT Limited without.
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Replying to: indianajohns (Jan 18, 2009 11:01 am) Leasing There may be other leases available. Contact a local dealer for more information. Start: 01/06/2009 End: 02/02/2009 $308 Monthly Payment Calculate Other Monthly Payments 36 Month Term $1150 Down Payment NA Security Deposit 10000 Annual Mileage Restrictions Lease based on the 2009 Subaru Forester 2.5XT VDC. Dealer may contribute $1000 towards the $308 monthly special. Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement. Tax, tags and insurance are extra. I think the $1,000 is only applicable to this deal listed - on an XT (not to any Limited cars). Unless someone thinks differently. It seems reasonable that I would in a better negotiating position on a 2.5X Limited due to supply. While i agree with you that the savings is $2,200, on a lease basis, it's only $300 a year which is not significant enough in my mind to give up Turbo (41% * 2,200/36). Though their might be additional savings on the negotiation side to consider at the end of the day. I didn't test drive the 4 cylinder (plan too now), though it would seem pretty weak without the Turbo. Opinions? The cost of Navi is $1,800 - i think I am better off going without that and buying a Garmin. Another question I have - if you are getting the car for under invoice, is this digging into the holdback. or maybe other manufacturer to dealer incentives? would like to understand what might compel them to go for below invoice offer. I also had a prior question about excise tax. Is this included in the monthly or do I pay that separate. In my current lease, I don't pay separate excise tax - though on my lease agreement I don't see that listed anywhere. maybe it is buried somewhere? thanks again. |
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Replying to: tsxowwner (Jan 18, 2009 12:04 pm) To me this means exactly what it says. The dealer may take $1,000 off of selling price. Maybe not. Probably not. It's definitely not any kind of incentive or rebate. I also had a prior question about excise tax. Is this included in the monthly or do I pay that separate. What is excise tax? Haven't heard the term excise tax since reading about the American Revolution in high school history class. Do you mean sales tax?
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Replying to: stoopy (Jan 18, 2009 4:17 pm) can anyone tell me what a subaru "SOA Executive Demo" car is. Is it strictly a car used by an executive or sales manager type at the dealership. Or could it be a rental car or loaner? from some research, I know that it is not a regular demo. thanks
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Replying to: tsxowwner (Jan 18, 2009 4:49 pm) I don't know what state you are in but in most states your "excise" tax is called "property" tax. I hadn't ever heard of excise tax either. In my state, I get a bill for property tax when I renew my yearly registration. So yes to license my car for one year (plates, registration, property tax) I pay $350 to $500. I would call your DMV in the morning, if they are open on MLK Day. I did some math on the 2009 Subaru Forester 2.5X Limited vs. 2.5XT Limited. If you leased these vehicles at invoice price with nothing down the 2.5XT would cost you $32.71 more per month. It would also cost you an additional $8 per month in gas because you have to put premium (91 octane) fuel in the turbo models. So based on my math the 2.5XT Limited would cost you AT LEAST $40 per month more. As I said earlier, the fact that your dealer is going to have 30 2.5X Foresters and maybe 5 2.5XT's is going to greatly increase the odds of you getting an even better deal on the 2.5X. These numbers were just getting invoice price so assume you can do better on the 2.5X model anyway. Not so sure on the 2.5XT. The reason the dealer would sell a vehicle for under invoice = the current market. These vehicles have been sitting on the lots for 6 months. The 2010's are just around the corner. Most people aren't looking for new cars in this economy. Dealers are going to have to dip below invoice to move cars. My advice is to go to the highest volume dealer in your area and start making $800 under invoice offers. They will at least meet you half way. |
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