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Prices Paid: Buying & Leasing Experiences Subaru Legacy Lease Questions
382 messages, Last post on Nov 24, 2009 at 4:50 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: finns2000 (Jun 19, 2008 12:56 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: theras (Jul 07, 2008 8:14 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Jul 11, 2008 3:23 am)
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Replying to: theras (Jul 11, 2008 7:28 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Jul 14, 2008 1:10 am) Thanks for all of your help. I did finalize a deal on the Saab this weekend.
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Is it ever financially beneficial to lease compared to finance? I understand that you're not paying the full cost of the car, which is nice, and you have a set rate that would typically be lower than a financed monthly cost, but my concern is that it's like renting a residence rather than mortgaging... You negotiate a lease of 199/month for 36 months on a new Subaru. After fees, security deposit, and other costs at signing, averaging this over the cost of the 36 months now becomes around 250/month (this would mean about 2000 due at signing). At the end of the 36 months, you have paid $9000 for the lease. The lease is over. You either now 1. buy the car outright from the dealer, which means you basically pay the MSRP on it or 2. get another lease, but nothing counts towards the next lease. In other words, in that same 36 month period, with financing, I could: Finance a purchase at 22,000 "out the door" for 366.00 per month (for 60 months) without any down payment. This becomes 13,176 at the end of the 36 months, but if I decide to sell my car and get a new car, in theory, I should be making some of the money back, right? I guess my question boils down to: - Does the money "spent" on the lease (9000) end up costing less than the deterioration of the finance when you go to trade it back in? (Is the car's value going to drop by more than 9000)
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Replying to: snum (Jun 19, 2008 1:57 pm) This deal is not quite as good as the one in June but it is still a smoking deal for a car that stickers out at $22,000 plus, has all wheel drive, traction control, moonroof and Harmon Kardon stereo. |
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Replying to: pilot1226 (Jul 14, 2008 7:46 am)  I think if you don't like selling your car yourself, and will get wholesale trade from a dealer, then the lease may actually end up costing less over 2 or 3 years. Why? Well, the dealer offered us only $5300 for our 2002 Legacy. We sold it private party and got $8000. It takes more effort, but resale is very good on Subarus if you take your time and sell it yourself. I think it would be hard for a lease (or multiple leases) to beat that. We kept the car for 6 years. We paid $17.6k plus tax, so it only cost us $10.5k for those 6 years (plus opportunity cost of that money). Let's call it $12 grand, assuming you know how to invest well. I doubt two 3-year leases will cost that little. Using your numbers you'd be out $18 grand, and for that money at the end of 6 years I'd still own a car, the leasee would have nothing. The advantage of the lease is you have a new car every 3 years, though. Cheaper? Probably not. Better? If you like new cars, and especially if you trade old cars for wholesale, then I'd say yes, it's worth it.
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Replying to: ateixeira (Jul 31, 2008 6:20 am) My family just bought 3 subaru SE legacy 24 month leases (all different colors, heh). The deal was too good to pass up, 80% residual on a car is unheard of. It has all the amenities that you could ever need, PZEV, harmon kardon, good gas mileage, electric drivers seat, alarm, 16inch alloys, dual exhaust, and disc brakes all around (My friend bought a 2007 accord, and it has rear drum brakes, what gives?), and AWD. Cost of ownership with tax (cali 7.75%) for 2 years at 12k miles a year is $5,444, $139 a month with 2k down. I have searched and searched and there is no deal like that around for a new car. I don't think you can even compare a base accord with the legacy special edition, you get a lot of car for such a low price on the subaru. The lease even includes Gap and you can prepay the disposition fee up front for ~$150 instead of 300 at the end, plus they give you around $1k for minor dings and wear and tear at the end. It is a jp morgan chase lease, and either they want high credit score leases on their books or someone made an error using an 80% residual.
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Replying to: stktrader (Aug 04, 2008 9:39 am) |
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