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Prices Paid: Buying & Leasing Experiences Subaru Forester Lease Questions
369 messages, Last post on Dec 07, 2009 at 8:09 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: kyfdx (Feb 18, 2009 12:08 pm) The deduction is proportional so that seems fair.
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Replying to: ateixeira (Feb 18, 2009 12:12 pm) So... since you don't pay the tax, you don't get the deduction.. As stated above, this is my (somewhat educated) guess... |
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Replying to: pano1 (Feb 17, 2009 9:12 pm) - you might get less than $13,935 in two years. - does your 19,995 include everything - tax etc if not need to factor that in - are you paying cash? lost return on your 10,000 (19,995 - 9,995) |
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Replying to: Car_man (Feb 12, 2009 4:07 am) 2009 forester 2.5x limited MSRP: 26,690 negotiated price: 24,479 (~500 under invoice) acquisition fee: 595 SVCS fee: 99 Gross cap cost:25,173 Residual (58%):15,480 money factor 0.0016 term: 36 months 15,000 miles/yr total due at signing: 445.48 (1st month plus title and registration fees) total monthly payment: 334.29 + 18.39(tax) = 352.68 I feel I got a pretty good deal. We just had some freezing rain/snow and the forester handled it as well as the jeep commander we just turned in, but with better gas mileage  Very fun to drive. My only gripe is the climate control takes a long time to switch from blowing hot to cold air, but no car is perfect....
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Replying to: gdtrfb (Feb 19, 2009 5:34 am) |
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Still seeking an answer from the gurus here about the merits of buying or leasing. In my previous post (see above) I surmised that I would be further ahead by buying my Limited outright rather than leasing for 24 months. His residual was almost $16K after 3 years so a 24 month lease should yield a much higher residual. If I pay cash for the same vehicle gdtrfb bought at roughly $24K, certainly the residual would be much higher than the $16K he has after 36 months. As I read it, after two years the value of my Limited should be somewhere about $18k. Simple math tells me that I would have spent $6k for 24 months use versus the $13k that gdtrfb did on his 36 month lease. Am I missing something here?? Oh, I'm paying cash and could care less about money factors, SVCS, acquisition fees, etc. I just have to be overlooking something here because buying outright seems to just be a plain better deal. Thanks for your patience, Pete
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Replying to: pano1 (Feb 19, 2009 9:02 pm) 1. The car is under warranty for the majority of the lease so I know I will not have to make any repair costs for the next 3 years or so. 2. I like to have a new vehicle every couple years 3. This is the first year of a redesign of the forester, while Subaru has a great reliability record I am leery about the first year of a new redesign as I got burned on purchasing a 2001 X5 that turned out to be a hunk of crap. So if it does turn out to be unreliable I can just turn it in after 3 years instead of trying to sell it. 4. Sales tax is spread out monthly throughout the lease instead of lump sum when purchasing. As I understand it, you never want to put down any more than you have to on a lease. The reason is, if the car is totaled, or stolen and not recovered you get zero money back from the insurance company since you don’t actually own the vehicle. So for example if I had put down the total monthly costs for my lease ($12,696) and the car was totaled after the first month I am out the full $12,696. Since I put down only 1st month payment and registration fees, if the car is totaled next month I am only out 1st month payment and registration fees ($445). Second thing to remember is car companies do not know exactly how much a vehicle will be worth after the end of a lease (neither do we). The best they can do is guess; their guess is called the residual value. A good example of this is the Jeep commander I leased before the Subaru. When I signed the lease 27 months ago Chrysler financial guessed the jeep would be worth $17,600 in 27 months, but in the mean time the economy tanked and gas prices shot up so now the jeep is only worth $12,000. So if I had purchased it and wanted to try and sell it after 27 months, I would have to put it up for sale at $5600 lower than the $17,600. Because I leased the jeep I was just able to turn it in and not have to worry about the accelerated depreciation. So in the example above you might be able to sell the forester for 18,000 after 24 months, but what if it is worth 5600 less than 18k after 24 months like the jeep was. Then you could only sell it for 13000 and would end up spending 11,600 over 2 years. Also you would need to add the tax paid at time of purchase (~1300 depending on where you live) so you could end up spending 12,900 over 2 years which would be more than leasing for 3 years. If you do decide to lease, then the money factor (MF) will become important. MF is simply the interest rate on the lease. MF x 2400 = interest rate %. So on my lease the MF is 0.0016 so the interest rate is (0.0016 x 2400) = 3.84%. I hope this helps.
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Carman (or anyone who has this info): could you please provide the residual and money factor for a lease on a 2009 Subaru Forester 2.5 X with premium package (MSRP aprox $25,500).The lease would be for 10,000 mile/yr for 36 months. Also, I saw on the Subaru website there appears to be a lease special on the Forester thru 3/2/09. Does this impact the residual or money factor, or is there cash back to be used in the lease? Last, when negotiating with the dealer, should they be up front about the residual and money factor; it seems the salseman that I have spoken to either can not or will not discuss this with me. Thank you for your help.
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Replying to: jackson41 (Apr 06, 2008 9:21 am) Could you please explain how to calculate lease payments once we know residual and money factor? Thank you
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Replying to: cheburashka (Feb 25, 2009 8:27 am) |
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