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Subaru Impreza Lease Questions

297 messages,  Last post on Oct 31, 2009 at 7:26 AM

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What is this discussion about? Subaru Impreza, Subaru Impreza WRX STi, Car Leasing, Sedan, Wagon

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#143 of 297 Leased car, would like to "trade-up" by adrian12 Jun 07, 2008 (8:48 pm)
I've leased a 2006 Subaru Impreza 2.5i (manual shift) and would like to "trade-up" to a Legacy (Automatic) at the same dealership. I talked to the dealership and he told me they can't do a trade, but they can give me a trade-in value (appraise the car) for my leased car and then lease me another car (meaning that they're 2 separate transactions). I've searched on the internet a bit and saw that many people don't recommend trading in a leased car because it's most likely a ripoff. I'm stressing now because I have so many questions!   1. I read online that if I return the car then there must be early termination fee and it will be factored into my new lease, making it more expensive. They are having a promotion on leasing the Legacy, but most likely they won't give the deal to me because they'll have to pay all the extra?   2. Is it possible that they take my car, saying that I don't have to make payments anymore, but later the leasing company bill me for the early termination fee? I'll have to make sure that there's no sudden payment popping up from somewhere else?   I'm thinking about still going to the dealership and see what trade-in value I can get and go from there. What can I expect? What are important questions that I have to ask and look out for?   I don't know if it helps, but this is my situation: My boyfriend and I have two cars, he recently got his old car back from a friend so now he has 2 cars. He's happy with the old car and doesn't need the leased Subaru anymore. His mother is willing to take the remaining of the lease (essentially just making the payments for him since Chase Auto Finance doesn't allow lease takeover) but would like a Automatic Legacy.   I appreciate any help and if there's any info missing please ask me! Thank you for your help! Replies to this message: Car_man (Jun 16, 2008 2:04 am)
#144 of 297 Re: impreza lease questions [whtcldjd] by Car_man HOST Jun 13, 2008 (2:54 am)
Replying to: whtcldjd (May 27, 2008 10:37 pm) Welcome whtcldjd. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.   The money factor and residual value that you mentioned look about right to me. Let's work up a lease payment on this car and see what we come up with. According to my calculations, if you were to lease a 2008 Subaru Impreza that has an MSRP of $23,212 and a selling price of $20,883 for 36 months using the lease program that you mentioned, its zero down, pre-tax monthly payment would be around $270.   Since the dealer that you are working with is already using Subaru's buy rate lease money factor, the only way to get a lower monthly payment than this would be to negotiate a lower selling price, which would probably be difficult given how much below dealer invoice this car already is.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#145 of 297 Re: Impreza Lease questions [azbriank] by Car_man HOST Jun 16, 2008 (1:41 am)
Replying to: azbriank (May 29, 2008 2:46 pm) Hi azbriank. I have seen Subaru's June lease program. You never mentioned how long you want to lease this car for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Impreza WRX Wagon with 15,000 miles per year are .00135 and 55%, respectively.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#146 of 297 Re: MF and Res for WRX and STI [trackwrench] by Car_man HOST Jun 16, 2008 (1:43 am)
Replying to: trackwrench (Jun 06, 2008 8:06 pm) I can help you out, trackwrench. You never mentioned how long you want to lease this car for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Impreza WRX Wagon with 15,000 miles per year are .00135 and 55%, respectively. The numbers for an otherwise identical lease of an '08 WRX STi Wagon are .00215 and 58%.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#147 of 297 Re: Leased car, would like to "trade-up" [adrian12] by Car_man HOST Jun 16, 2008 (2:04 am)
Replying to: adrian12 (Jun 07, 2008 8:48 pm) Hi adrian12. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates, even if you are trying to keep things in the family so to speak by purchasing a different vehicle from the same manufacturer. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#148 of 297 Re: MF and Res for WRX and STI [trackwrench] by gforce11 Jun 27, 2008 (5:28 pm)
Replying to: trackwrench (Jun 06, 2008 8:06 pm) WRX Lease rates for June 2008
#149 of 297 Lease deal on 2.5i wagon by backy Jul 03, 2008 (10:05 am)
I got the following quote on a 2.5i wagon with AT: 36 months, $189/month and about $1700 up front, which includes sales tax (must be paid up front in my state), cap cost reduction of about $360, acquisition fee (which includes gap insurance) of about $650, first payment, and license. Does this seem like a good deal? I would prefer to pay less up front, and am especially interested if others have negotiated away the cap cost reduction and some/all of the acquisition fee. The rep also said their is a disposition fee of about $150-200. I would prefer not to pay that either. Replies to this message: Car_man (Jul 11, 2008 3:16 am) backy (Jul 11, 2008 6:27 am)
#150 of 297 Re: Lease deal on 2.5i wagon [backy] by Car_man HOST Jul 11, 2008 (3:16 am)
Replying to: backy (Jul 03, 2008 10:05 am) Hello backy. You never mentioned the selling price or MSRP of the Impreza that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I am sure that either myself or another knowledgeable community member be happy to give you their opinion of this deal if you let me know what these numbers are.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: backy (Jul 11, 2008 6:27 am)
#151 of 297 Re: Lease deal on 2.5i wagon [Car_man] by backy Jul 11, 2008 (6:27 am)
Replying to: Car_man (Jul 11, 2008 3:16 am) I understand what you are saying about MSRP and selling price, but in this case those numbers (especially selling price) are not very important to me. I know the MSRP for the vehicle is about $19,300-400, depending on how much is charged for the side molding I want (that seems to vary by dealer). Because I am looking for a lease with a low payment ($200 a month or less, 36 months) and low out-of-pocket expenses, those are the numbers that are most meaningful to me. I know from research that any lease with those terms on a car that is close to $20k in MSRP would be a very good deal. I will confirm that by looking at the money factor and residual values on the car. But any other numbers are not relevant to me until/unless I get a deal within the parameters I stated. When I do, then I will pour over all the numbers for the lease. And of course, the car has to be something I would want to drive for 3 years!   FYI I have yet to find a lease with exactly the terms I want, i.e. payments at/under $200 a month and little or no down, on a car I'd want to drive. The Impreza lease I mentioned above is far and away the best Impreza hatch/AT deal I've received from any dealer in my area, and I've only found one other deal that comes close in terms of total cash outlay, and that was for a Sportage with a MSRP of about $20k. There don't seem to be as many great lease deals out there now as there have been at times in the recent past.
#152 of 297 just leased 2.5I auto by stygz1 Jul 14, 2008 (5:33 am)
Just leased a 2.5i auto with dealer installed spoiler 0 down 255 month 36 months 12000 miles. all tax and registration included. Replies to this message: backy (Jul 14, 2008 6:06 am)

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