Subaru Impreza Lease Questions

Replying to: frankfrank (Mar 02, 2007 5:30 pm)

Replying to: glevitt (Mar 04, 2007 8:35 pm)

Replying to: thefinz (Mar 06, 2007 12:22 pm)

Replying to: tornadoredr32 (Mar 16, 2007 7:30 am)

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• Car_man (Apr 24, 2007 3:25 am)

Dear hosts and knowledgeable people around,
 
 I am new to this forum, although I'm old to Edmunds.com. I hope you'll find the time to help a newbie.
 
 In May 2006, I leased a 2006 2.5i manual Sport Wagon. The car is great; however, I am seriously considering terminating the lease early and instead starting a new lease for a 2007 WRX Limited sedan (manual).
 
 My current lease details (on the '06 2.5i Sp. Wagon):
 - MSRP: 18,833; high, I guess;
 - net capitalized cost: 17,004 (after rebates, $1,000 down payment, and negociations); good, I guess;
 - residual: 8,637; low, I now realize;
 - depreciation: remaining 8,367;
 - APR: 2.88% (i.e. money factor: 0.0012); good, I think;
 - term: 48 months;
 - mileage: 15,000/ year;
 
 So now I pay: (depreciation 174 + rent charge 31) * (tax 110%) = 225 a month.
 
 The car is almost 1 year old, with 11,500 miles on it; exceptional condition, practically no wear and tear.
 
 After this long introduction, my questions:
 
 (A) If I return this car tomorrow to the dealership (good one, Day Apollo near Pittsburgh, PA), how much of a hit should I expect? In 4 years, 60,000 miles it would have depreciated $8,368... How much has the car depreciated in 1 year, 11,500 miles, in your opinion? I know I paid 174 * 12 = $2,088 towards depreciation, so I'd subtract that from your number and get an idea of how hard I'll be hit.
 
 (B) Will it help (financially) that I want to lease another Subaru, and that I'm all good with their captive company? All I want is a more powerful car
 
 (C) For a 2007 Impreza WRX Limited (manual!), what invoice should I try to obtain; what residual value; what APR (can I get the same low 2.88%)? I'd do 48 months, 15,000 miles/year, same as I have right now.
 
 (D) Any advice on when should I be doing this, i.e. on when good incentives might show? May, June, July? I'm 100% I want the '07 (completely personal preference on the redesign for '08).
 
 (E) Will insurance go higher (by a lot)? I'm 26, not married, no kids, good job, okay driving record (speeding ticket last year, 10mph extra after many negociations).
 
 I am sorry for posting such a long first message. I do hope somebody will find the time to help out.
 
 Thanks a lot,
 --Bogdan, WRX wanna-be-owner

Replies to this message:
• ateixeira (Apr 19, 2007 9:21 am)
  • bdumitru (Apr 19, 2007 10:06 am)
    • ateixeira (Apr 19, 2007 10:31 am) and 2 more...
• Car_man (Apr 25, 2007 1:38 am)
  • cky3396 (May 05, 2007 9:53 am)
    • Car_man (May 21, 2007 2:38 am)

Replying to: bdumitru (Apr 19, 2007 9:09 am)

Replies to this message:
• bdumitru (Apr 19, 2007 10:06 am)
  • ateixeira (Apr 19, 2007 10:31 am)
    • bdumitru (Apr 19, 2007 11:32 am) and 1 more...

Replying to: ateixeira (Apr 19, 2007 9:21 am)

Hi ateixeira,
 
 Thanks for your reply.
  
 "Being married would also help, but rates shouldn't be too bad."
  
 I know, but... not now, hehe.
 
 Now, I'm more worried about the financial hit I might be taking on returning the '06 2.5i (details in my first message). Any guesstimate?...
 
 Thanks,
 --Bogdan

Replies to this message:
• ateixeira (Apr 19, 2007 10:31 am)
  • bdumitru (Apr 19, 2007 11:32 am)
    • ateixeira (Apr 19, 2007 12:48 pm)

Replying to: bdumitru (Apr 19, 2007 10:06 am)

Replies to this message:
• bdumitru (Apr 19, 2007 11:32 am)
  • ateixeira (Apr 19, 2007 12:48 pm)

Replying to: ateixeira (Apr 19, 2007 10:31 am)

"The good news is that they do hold their values well. If you sell it alone I bet you can recover 80% of what you paid, which is not bad."
 
Well, I can't really sell it
It's leased, so all I can try is to find someone to take over the lease, right? Or am I wrong?
 
How "killed" do you think I'll get?... The car depreciates (according to the lease contract) ~$8,300 in 4 years, 15,000 miles/year. Now it has 1 year, 11,000 miles. Granted, it's the first year But I'm hoping that the depreciation would be something like: 1st year = $3,200; 2nd year = $2,600; 3rd year = 1500; 4th year = 1000. Am I way off?
 
What do people here think?
 
Thanks,
--B

Replies to this message:
• ateixeira (Apr 19, 2007 12:48 pm)