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Prices Paid: Buying & Leasing Experiences Subaru Impreza Lease Questions
301 messages, Last post on Nov 30, 2009 at 3:18 PM
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I closed Monday on a 2009 Impreza wagon with navigation and satellite radio in the Chicago area. The MSRP with options was $24,158, but they sold it to me for $21,407 after a $750 rebate (several hundred dollars below invoice). The Tier I money factor was .0027 for 36 months, .00269 for 39, .00266 for 42 months, and .00274 for 48 months. The residual value was 52% for 36 months, 50% for 39, 49% for 42 months, and 44% for 48 months. I went with 42 months. An independent leasing company told me the residual on the Impreza wagon is lower than the sedan; apparently fewer people want to wagon. (I think that's weird, but I like hatchbacks.) Thanks for your help.
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how you guys doin.me and my wife recentlly went to a subaru dealer in nj she was interested in leasing a impreza they ran her credit and then told her she couldnt because she had a credit score of 635 she filed bankruptcy 4 years ago and everything is discharged can yo get a lease even tho you dont have perfect credit? this is our first car we are trying to get so the game is new to us any help is appreciated thanks in advance  
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Replying to: sdfoer (Apr 01, 2009 7:14 pm) Buy it on a 60 month bank loan, it will be way, way cheaper. |
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Replying to: mattf2 (Mar 31, 2009 8:45 pm) Why would you lease for 42 months? You are going to be out of warranty for 6 months. Plus you'll have to put new tires on it before you turn it in. I'm guessing your payment is just over $355 a month unless you put money down. Not a good deal at all in my opinion. |
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I still think my "quick" check of lease prices takes everything (MSRP, MF, Cap Cost, rebates and residual) into account. I base it on minimal money down (title & doc fees, etc.), 36 months and 15,000 miles per year. Just divide the MSRP by the monthly payment. 70-75 is typical. 80 is very good. 90 is excellent, and 100 and over is great. As a test, try this on any lease you're looking at. Of course, the best way is to convert all of your costs into PV using your personal opportunity interest rate (not the MF), but this method is complicated and time consuming. Anyway, now that I am reviewing the details below (lease factor of 74 - not too good), but it looks like I'm paying within $26 of Invoice less $1000 in rebates plus acquisition fee. 2009 Subaru Outback Sport with iPod interface, splash guards, armrest extension with an MSRP of $22,208. MSRP: $22,208 Edmunds Invoice: $20,997 Aquisition fee: $595 Residual: $12658.56 (based on the above 58%, it appears that the splash guards are included in the residual, but the iPod interface and arm rest extension are not) Car Show Coupon: $500 Factory Rebate: $500 Cap Cost: $20,566.35 MF: .00220 (as reported here, not from the dealer) Monthly Lease: $301.73 plus 9% PA tax= $328.89 OTD: $549 ($328.89+doc, license, title fees of $220.11)
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thanks for the help....we are going to buy either a impreza or mazda 3 well see....its just dealing with the shady salesmen sometimes gets frustrating first car so we are learning as we go to dealers and hlp wit purchasing options is appreciated thanks again |
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Replying to: lch77 (Apr 03, 2009 8:49 am) Also, the 15,000 mile residuals for a 2009 Outback Sport AT is 65% on 24 months, 57% on 36 months and there are no factory rebates to customer. There is $500 in manufacturer to dealer cash. I've seen selling prices for these at $19,500 plus the acquistion fee. Don't even bother to check TMV price. Doesn't equate to anything. Monthly payment for 15K, 36 months would be $303.87 including tax. 12,000 miles would be $297.68 including tax.
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I just leased a 2009 Impreza, automatic transmission with Premium Pkg plus a remote auto start and iPod adapter. 36 month lease, 10k miles per year. $950 down, $275/month. Buyout is $12,300. Seemed like a good eal. enjoying the vehicle so far. FYI, this was from a northern NJ Subaru dealership, leased through their arrangement with Chase.
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Replying to: indianajohns (Apr 04, 2009 9:16 am) My lease factor is not used to determine what the lease is but "is it a good deal?" And this is "is it a good deal versus any car you can lease" versus "is it a good deal" on this particular car." My deal was based on $1000 under Invoice, a .00220 MF and an approximate 58% residual. I think it was about as good as can be had for THIS car in March/April 2009 so in that perspective, it was a good deal, but the lease factor of only 74 tells me that there are better deals out there for other cars. If you go to Suburu's website, you see a lease offer that gives a lease factor of over 100. Well, at fist that looks great compared to my 74 but requires $1120 down and only 12K miles. Even with that, it's pretty good as to get that rate they used a 62% residual and an approximate .00180 MF. Delete the down payment and increase the miles to 15K and comparable lease goes to about $220 or a lease factor of 82, which I think is pretty good. So how can they advertise a 84 factor when i only got a 74%? Probably, the OBS has options that don't residualize as well and they used a "teaser" MF to get you into the store.
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Replying to: lch77 (Apr 04, 2009 11:18 am) You could finance this car through Subary at 2.9% for 60 months wiith a payment of $376. Then you could claim the sales tax (financed in) as a deduction on your 2009 Income Tax Return.
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