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Prices Paid: Buying & Leasing Experiences Subaru Impreza Lease Questions
297 messages, Last post on Oct 31, 2009 at 7:26 AM
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Replying to: chuck68516 (Feb 17, 2009 9:43 am) My sincerest apologies for the 10 seconds it took you to read my post. I will consider 3 hail marys and a meal for an orphan as penance.
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Replying to: blueguydotcom (Feb 17, 2009 11:19 am)
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Replying to: chuck68516 (Feb 17, 2009 1:16 pm) Mmm, hot filling, *ouch* burned my tongue. 
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I understand to find out EXACTLY how good a deal you are getting, you need to have the MSRP, Sales Price, Residual and Money Factor. However, when I shop leases I just divide the MSRP by the monthly payment to get a “Lease Factor.” The higher the better. If I find one 90-100 without anything down, it’s usually a good deal. I use it to compare the leases on similar cars before even checking the other details. It’s good as a quick check. If you have to put some money down, subtract that amount from the MSRP first. Lease rates are before taxes. Anyway, my local Subaru dealer had a 2.5i with an MSRP of $19,323 and a lease of $216/month for 36 months, 10K miles ($5 more for 12K; $10 more for 15K) with $999 down. That gives me a lease factor of 85. The Outback Sport I wanted had an MSRP of $21,045. Using the same Lease Factor, I get a monthly rate of $236, but the dealer quoted me $292. That’s 35% more for a car that costs only 9% more. I recognize that the residuals and money factors might change from model to model, but I didn’t expect them to be so different. When I asked, she quoted 63% and .00190 for the 2.5i and .00220 and 58% for the Outback Sport. I also see that Mazda is promoting a $179/moth lease on the base car. Again, I wouldn’t think that the Sport should be $100 more per month. Car Man, what are the factors for the Outback Sport for 36 months with 10, 12, & 15K miles and how much is the current rebate? |
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Replying to: lch77 (Mar 12, 2009 11:14 am) You really only need to worry about 3 things. Sale price, residual and money factor. Everything else is a moot.
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Replying to: chuck68516 (Mar 13, 2009 6:53 pm) I think what you are saying is the "real" value of the two $35,000 cars are $31K & $26K repectively but you can lease the MKZ with the higher real value for less? My "quick" factor cannot give you this information and that's when you need to find the residual & money factors, Again, it just points you quickly to the better leases and is probably more accurate to use within a particular model. I also recognize that some options are removed when calculating the residual as these are considered to be worthless after 3 years. Those would affect the actual payment byt not my Lease Factor. BTW, I price a car on Edmunds to obtain the MSRP & TMV. I then try to get the factors from this forum and then plug those 4 values plus the local method and sales tax rate into a downloaded lease calculator to get a lease that should be acceptable and offer it to the dealer. Is there anything wrong with this strategy? Note, I discussions in this forum, I'd suggest that all quotes be exclusive of sales tax as not every state implements them the same way. Some states just add the going rate to the MSRP, others might add it to the CAP cost, and here in PA, our 6% Sales Tax is not used at all. You just calculate the lease without any taxes and then add 9% Lease Tax to that lease cost to determine your payment. 
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Replying to: lch77 (Mar 14, 2009 7:09 am) TMV is worthless. You don't shop TMV. You aim for the best price - TMV is a sucker's bet. Even when leasing you look for the lowest sale price (if there is money/rebates/trunk cash then you want invoice minus that amount). |
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I recently got the $199/month-noDownPayment option from Subaru. No worries about yearly registration, windshield wipers, fluid, bulbs, any maintenance, tires, all included with the Subaru Lease (it even says it in the brochure). 1 single oil change after 10,000 miles, that's all I have to pay for myself. In addition, I am driving a new car every 3 years. Only backdraw is the full coverage insurance wise, but still.
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Replying to: jd2009 (Mar 18, 2009 5:41 am) |
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Replying to: wonwayout (Feb 12, 2009 5:15 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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