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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: tsxowwner (Jan 26, 2009 5:41 pm) |
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Car_man, What are the current MF and residual on it for 36 month/10K miles? Dealers in my area advertise "internet price" of ~$2K under MSRP (about $600 under invoice). Seems like a good deal, no? Thanks.
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Replying to: ursus (Feb 04, 2009 7:32 am) Thanks. |
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In today's paper I saw a local ad (N. CA): 2009 Subaru Forester 2.5X, Model 9FA $0 drive off, $199/mo. plus tax for 39 mos, 10K. Thank you. |
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Long time reader, first time poster here. I just got the following lease offer: Forester 2.5X Limited MSRP: $27,233 Negotiated price: $25,503 (~$100 over invoice) MF: 0.001847 Residual (58%): 15,795 Cash due at signing: $479 (1st month payment included) Monthly payment $366 +$20 tax = $386 36 month 15k miles I have 3 questions. 1. Did the MF for February 09 change from 0.0016 in Jan to 0.01847? 2. Is 58% the residual for a 2.5x Limted (it was quoted a few posts above as 60%). 3. Does it look like there is any room to move in this deal. Thanks in advance! |
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Replying to: gdtrfb (Feb 07, 2009 10:22 am) I just leased almost the same car as you at the end of January. my money factor was .0016 so i agree, it looks like it went up (their program changed effective Feb 3, so it seems reasonable - though can't say for sure) my lease is 36k/12k miles - my residual is 59%. if I had done 15k miles my residual would have been 58% so it looks like residuals didn't change. you should confirm that 25,403 is the "real" invoice as opposed to the dealer invoice which may include a load - profit for salesguy, marketing etc. in any case, I think you can ask for and get UNDER invoice if you are willing to shop around a little and negotiate firmly. I got about $800 UNDER invoice. I did have a doc prep fee of $300 so if you don't have that, then it would be $500 under invoice on an apples to apples basis. Keep in mind, dealers have something called a 'holdback' - which for subaru is 3% of msrp i believe. Usually this is not negotiable, but in this economy they NEED to move cars so even if you get the car below invoice, they are still making money. the holdback on my car was about $1,000 here are my numbers msrp 27,333 cap cost 25,345 (which includes the 595 acquisition fee) .0016, 59% 322 per month (before tax) 700 due at signing (1st, plus doc fee plus title etc) You may want to confirm your numbers again - based on what you posted for msrp, residual, money factor, and negotiated price, i get to a monthly payment before tax of $345.95 - but you are showing $366 so there is something missing in your deal? here are my calculations of your numbers (25,503 - 15,795)/36 = 269.67 (25,503+15,795) * .001847 = 76.28 total = 345.95 thoughts? |
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Thanks for the info tsxowner! I had no idea one can calculate the monthly finance charge using the formula (Cap Cost + Residual) * MF. I thought something was a little off as I could not get the numbers they gave me to work out when using the LeaseGuide calculator. The wife and I decided the options were not worth it and we are planning to lease a 2.5x Limited with none of the options. Here is the offer I am going to email the sales person on Monday: MSRP: $26,690 Cap Cost: $24,500 Residual Value: $15,480 (58%) Money Factor: 0.001847 Term (months): 36 Sales tax: 5.5% Monthly payment: $324.52 + tax ($17.85) Cash Due at signing: $479.56 (includes 1st month payment, title, etc) The cap cost is $500 under invoice (according to edmunds), does this offer sound reasonable? The lease is up on our Jeep commander on Feb 27th. Any idea if there is any advantage to turning the jeep in early and transferring the plates as opposed to getting new plates for the Forester and keeping the Jeep till the end of the lease (i.e. are plate transfer fees less than new plate fees)? Thanks again!
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Replying to: gdtrfb (Feb 08, 2009 10:04 pm) keep in mind, in some states, PZEV is required to be added to the car. This is $200 and doesn't show on TMV unless you add it in under optional features. Do you know if the it's required - if so you won't find a vehicle with 26,690 msrp, it will be $26,890. take a look a dealer websites. regarding you lease numbers. the pure math on your lease numbers is correct. However, keep in mind there is a $595 acquisition fee when leasing a subaru - this goes to the leasing company and is usually added to the cap cost, if not paid up front. So based on the numbers you posted, you are indirectly saying the cap cost of $24,500 includes the $595. If you ask the dealer for a $24,500 cap cost, you are asking them for $1,095 under invoice (or said another way you are asking for $500 under invoice and you want them to cover the $595 acquisition fee). Either way, you are asking for $1,095 under invoice. That said, I would GO FOR IT! - worse case they say no, but are more likely to meet you between $500 and $1,000 which would be great. REMEMBER - the economy is TERRIBLE, they need to move cars!! You might consider sending the same offer (first) to a few other dealers - send it to the website address they list. If any of them say ok or offer you something close - then take that to your dealer and ask them to better it. in your email: - tell them the exact car you are looking for, color, options etc - tell them you have already test drove and are looking to buy this week, but are doing some shopping around and list out the deal you are looking for (you don't need all the details) just these: MSRP: $26,690 Cap Cost: $24,500 Term (months): 36 15,000 miles per year No upfront costs from you except 1st month and title They will have MF, residuals and should get to your monthly. You should look at the inventory on the dealer websites to see what they have. you might find that they don't have many "base" models so you may need to be willing to go with an option - in order to get the color you want. though keep in mind, the website is not always up to date and if you want a car, they can get it. you might consider the autodim/homelink mirror - it's cool and on a residualized basis, it's about $2 a month. Another good thing to know is rule of thumb on how the numbers work - this way if they have something different then the current numbers you are focused on you can figure out what the difference is. Based on your numbers keep this in mind: For every $500 change to your cap cost (up or down), your monthly payment with tax changes about $16 per month. cap cost increase of $500 so (500/36 + 500 * .001874) * 1.055 = 15.64 call it $16. For every $500 in additional options you add (so long as they are pre-installed - i.e. not installed at the dealer), your monthly payment will go up about $5 month. This assumes the invoice of the options is 85% of msrp for the options - which is roughly ok. Regarding plates, I do not think you can transfer plates for a lease. You will need to get new plates regardless. Regarding waiting until 2/27 or turning your jeep in now. That won't get you anything assuming your Jeep is not worth more than the buyout price (you could check that). You will need to turn your jeep into a jeep dealer - i believe and will also need to get it looked at "in advance" - i would contact the jeep dealer on who to call/schedule an appointment. If you will have trouble getting transportation, you should schedule your Jeep drop off and Subaru pick-up on the same day and ask the Subaru dealer to pick you up at the Jeep dealer. That said, unless you have parking issues, you could also keep both vehicles for a short period of time. hope this was enough info - let me know what you hear back from the dealers if you have questions etc.
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Hi, can you please provide the current money factor and residual (36 mo, 15K per year) for a 09 Forester 2.5x premium? Is it any different for an XT? Separately, does anyone know if PZEV is _required_ in the state of California? Thanks - David
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Replying to: 335xiguy (Feb 09, 2009 4:31 pm) PZEV Partial Zero Emissions Vehicle: Required on vehicles sold in CA, CT, MA, ME, NJ, NY, OR, PA, RI, VT and WA. don't know answer to residual question |
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