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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: brookotter (Apr 06, 2009 6:49 am) In your case however, you are stuck with no options. You'll have to pay the disposition fee AND sales tax on the pre-determined end value. Not worth it in my opinion. How far over miles are you?
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Replying to: chuck68516 (Apr 08, 2009 4:53 am) Thanks for the feedback! It's a 48K/48Mo lease, I'm at 64.5K, at .15/mi over. There's a fender ding that would be about $700 to repair, according to my body shop. B
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Replying to: brookotter (Apr 08, 2009 3:57 pm) Some dents are normal wear and tear. They should send you a template in the mail near your lease end showing you what the acceptable damages are. As long as it's within the template limits you will just be paying for the mileage. Also what ever you do, do not lease again. You drive WAY too much to lease. Leasing really only makes financial sense for people who can keep it under 12,000 miles a year. Even at 15,000 miles per year you are pushing the limits of normal wear and tear. 48 month leases are also not the best idea. Try to keep it within the 36 month bumper to bumper warranty and avoid having to spend money for new tires, brakes, etc. The 60,000 mile service alone at a Subaru dealer probably cost you over $500 correct?
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Replying to: chuck68516 (Apr 08, 2009 8:34 pm) I agree with you heartily that l'm driving too many miles to lease these days. However, my life changed during the lease (another reason against leasing). At this point, you're also right about a lot of the maintenance: brakes have been done all around $700, as have tires $600, and the 60K service including filters and belts, which was a total of $600. So, that's money already spent. I did purchase the Subaru 48M/60K warrantee, but not sure it was worth it in retrospect, as the only things needed were maintenance items past 36K. Also, spilt milk. Looking forward, wIth the trim/option I have (XT, Premium, leather, sunroof, alloy wheels, premium sound, and security) and taking into account the region, color and high miles, the TMV on the car is between $14.7 and 16 for a dealer-purchased (retail/certified) vehicle, which I'd consider to be my replacement cost. I've looked at several similar cars (model, trim, condition, mileage) on lots and they do seem to be priced in the TMV range. So, even taking into account the purchase option fee, and the sales tax (which I'd overlooked, thanks), the cost the buyout would be less than the retail TMV. Checking my contract this am, it's puchase option $12651, plus $150 purchase option fee, plus 5% tax $660, for a total of $13,433. Are there other costs I'm missing that would impact this price? (I'm not worrying about excise ($65/yr) or registration ($40) as those are costs I'd have whether I kept this or got something else, and the excise is actually lower on this car because of the depreciation. Maybe I'm missing something, but I think what I'd be doing here - even in the absence of being able to negotiate on buyout price - would be to buy the car for about what it's worth on the open market. I'd be paying 2.9% on the money I'd be using to buy the car, and then my plan would be to pay it off and drive it till the wheels fall off, or when I can afford to buy (rather than lease) something I want - what I used to do before I started leasing nicer cars. Again, since I've not done this before, I'm wondering what I'm missing considering your advice above, but this doesn't seem to be a bad decision moving forward (the bad decision was to lease in the first place  B
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Replying to: brookotter (Apr 09, 2009 4:23 am) According to KBB the Trade In value of a 2005 XT Premium is $10,675. Autotrader.com has 39 listings with the average ASKING price being $14,000. It may be worth somewhere between $10,000 and $14,000 on the open market but if you have to finance nearly $14,000 plus pay for repairs and maintenance on it, you might as well wash your hands of it now while you still can. Your 48 months of lease payments have already added up to what $18,000? More? Add in the extended warranty you bought, services, routine maintenance, tires, etc. and you've paid for the entire MSRP of this car already once. Might as well not pay for it twice. |
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Replying to: optimum (Mar 20, 2009 11:56 am) |
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Replying to: optimum (Mar 20, 2009 11:56 am) In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the vehicle that you want and then have the dealer calculate your vehicle's monthly payment using its buy rate lease money factor. You are off to a good start because you already know what this vehicle's selling price is. The model that you are interested in probably has a spread of around $2,400 between its full MSRP and its dealer invoice price. The $2,278 dealer discount that you were quoted looks very attractive to me, assuming that no customer cap cost reduction was used to arrive at it. Just make sure that the dealer uses Subaru's current buy rate lease money factor of .00120 to calculate your monthly payment and you're in business. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: lgtwrx (Mar 20, 2009 5:27 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: lasher30 (Mar 23, 2009 8:09 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: joe222 (Mar 31, 2009 10:14 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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