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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: hellagrant (Aug 13, 2008 3:03 pm) I'm looking to add Leather, sat. radio and 15000 mi. Will be around $300/mo. with nothing out of pocket (sorry $8 out of pocket). Also dealer pays first payment so you only make 23 payments. We're talking a car with moonroof, 380 watt stereo, DSC, leather, power seat, XM, alloys, AWD, etc. Fabulous deal. I'm just waiting for my color to arrive and than make the deal. My understanding is that the residual is a mind boggling 80%. I don't think I've heard or residuals even of 70% on a 2 year lease. I've been looking for the better part of two years so obviously I've had a tough time making up my mind. A test drive and this lease deal and I made my decision in one day. ' |
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Replying to: altimate (Aug 13, 2008 7:16 pm) They're subsidizing it, for sure. |
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Replying to: ateixeira (Aug 14, 2008 7:18 am) Someone mentioned Honda using rear drum brakes in their relatively new cars - and mid-level cars too like the Accord & Civic. I've noticed that Honda's really fallen behind in terms with some technological advancements. They don't have Tiptronic transmission options (Shifttronic in Subaru lingo) and they appear to be lacking features compared to the competition. For instance, my `00 Civic LX didn't have ABS, Intermittent Wipers, a second Power Port, etc. Everything in the car was analog, while a lot of competitors were already featuring digital dashboards & trip computers. I don't think Honda started offering that until the 2007ish remake. The one thing that annoyed me about the new Legacy is that it's still only a 4-speed transmission, I was hoping for a 5-speed for better efficiency on the highway, but I'm over it already. The Legacy is loaded with features that more than make up for it. The biggest question will be in 3 years from now when the Legacy is paid off -- will my wife let me get a WRX STi to play around with  (And on that note - I hope they go back to the mid-2000's styling, I am not very impressed with the 2008/09 remake for the Impreza)
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Replying to: pilot1226 (Aug 14, 2008 7:29 am) Subaru takes the risk - they buy it back at that value whether it's worth that much or not. Often manufacturers will gamble on high residuals just to lease more cars. Some times it works - BMW residuals are high (so are Subaru's). Some times it backfires. See Chrysler. They had to eat such huge losses, they stopped leasing entirely. Chase bank followed suit, and will not lease Chrysler cars either. Residuals are low and I would expect them to drop further. |
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Replying to: pilot1226 (Aug 14, 2008 7:29 am) It doesn't work for anyone who wants to buy the car when it goes off lease. Then the purchase price is way to high because of the high residual. I'm planning on doing the lease because it's just a great deal. But obviously it will force me back into the car market in two years. The dealer also offered me an even better deal that I may consider. Prepay the lease in total up front and the cost of the lease is even lower. Probably a savings of $500-600 over making the payments. Since I have an equity of about $4000 in my trade that would mean I have a paid up 2 year lease with about $2900 out of pocket plus my trade. Not bad especially for this well equipped car. One issue that has to be checked out is what would happen in a prepaid lease if the car got totaled or stolen prior to lease end. Do you get back the pro rata portion of your money attributed to the unused lease period or are you up the creek for those funds. The salesperson is checking into that. I think I'd want something specific in the lease contract or something in your insurance policy that deals with that issue.
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Replying to: altimate (Aug 14, 2008 2:37 pm) Yup.. that's how most pre-paid leases work.. As opposed to just making a big CAP cost reduction, which puts that money at risk... regards, kyfdx |
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Replying to: ateixeira (Aug 14, 2008 7:18 am) Does anyone know if it is 80% for all the trims?
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Replying to: hellagrant (Aug 15, 2008 2:54 pm) |
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I just got quoted on a lease and want to see if it's a good deal or not. 09 Legacy Limited $23,907 price (I get below invoice b/c my employer) $1500 down $344 month (includes tax) 36 months - 15K miles/yr $15,844.75 residual .00255 money factor Thanks for your help!
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Replying to: chambers134 (Aug 19, 2008 4:36 pm) However, the SE model has such a great lease deal you might want to consider it. I was quoted 320/mo.(inc tax) on a two year,15000 mi lease with nothing out of pocket. The price would have been $50/mo. lower but I added aftermarket leather, XM radio and 15000 mi up from 12000 on the standard lease. The limited has some extras but if you can save 50-100/mo. and a 1500 downpayment I would think that would be a great alternative.
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