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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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Carman or anyone else that could help, Today I put down a deposit for a 2009 Legacy SE lease. I upgraded to a spoiler, fog kit, splash guards, mats, and armrest extension. Can anyone review the numbers because they don't look good to me. This is for a 24 mth./15K lease. MSRP with extras = $24,087 Negotiated Price = $22,461 (Supposedly $100 below invoice through a deal with my employer) Residual = 78% = $18,787 MF = 0.00313 (This seems very high as I qualify for Tier I credit) Payment = $269/mth. which includes $895 acq. fee????? and $1000 down to cover taxes(8.75%), first payment, $88 cap reduction,and $75 in DMV fees This cannot be right and there have to be more hidden charges than the bloated acq. fee. Can anyone advise me on the correct Tier I money factor, residual, acquisition fee, and a good negotiated price on this vehicle? TIA
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Replying to: fin81 (Aug 25, 2008 10:41 pm) Residual sounds right. MF is too high. If you are tier 1, there is no way that the MF is .00313 = 7.5%. I am tier 1 and I got like......00.0027??? Something like that, which equals almost an entire percentage point in interest. Acq fee!!! Get that thing off. That is complete BS and let them know that it is BS. Where are you located? Because the market for the Legacy can vary greatly. Also, maybe the MF is different across the country. Carman - Can the MF be different for different parts of the country? |
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Replying to: altimate (Aug 25, 2008 4:19 pm) I believe the $2500 down is strictly taxes and fees. To reitererate: 2009 Limited with spoiler, dimming mirror, all weather mats MSRP $26,645 Purchase Price $25,413 (includes $500 dealer cashback) Residual $16,520 12,000 miles, 36 months $329 monthly payment with $2500 down Mary
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Replying to: Car_man (Sep 21, 2005 3:15 am)
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Just finished this deal. Great lease deals on the Legacy right now. 2009 Legacy SE 5 speed manual transmission auto dimming mirror extended armrest 24 months 12K miles/year $400 down (includes 1st payment) $215 + tax / month Residual 78% Residual $18,XXX. Not planning to buy at end of lease, residual is too high.
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Replying to: hellagrant (Sep 03, 2008 9:15 am) |
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Spoke with the dealer yesterday and the indication was that the residuals are down about 4% from August to September. Since my dealer didn't have any availability last month my salesman worked a price reduction on my lease deal to erase most of the residual change. My deal will only be about $5/mo. more than the August quote with nothing out of pocket except first payment. My decision right now is whether to go with the monthly lease or do a prepaid lease deal. That would save me close to $600 dollars over the life of the lease. I have a $4000+ equity for my trade so prepayment would only cost me about $3000 out of pocket. On the other hand, getting over $4000 cash back from my trade (not using it for cap cost reduction-which is always a bad idea) would give me opportunity to invest money and or use it for the first year of payments. Expect the car I want to be in in about two weeks so I'll make the decision at that time. |
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That sucks you will end up paying a bit more for the Legacy compared to last month, but it is still a great deal! I would say avoid the prepayment. Yes you will say $600 but most people in America don't have enough emergency funds. Use the $4,000 to pay down other debts that you may have (like credit cards or any other high interest loan). If you don't have any high interest debt than use the $4,000 for liquid savings (probably only get you like 3 %or 4% right now. But I am assuming you are like 75% of the American population without a real good emergency fund. If you have enough backup liquid money and no debt, than go for the prepayment or use the $4,000 to reduce monthly payments.
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Replying to: hellagrant (Sep 09, 2008 9:25 am) |
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Replying to: fin81 (Aug 25, 2008 10:38 pm) It sounds to me as though the dealer that you are working with is trying to mark-up Subaru's base acquisition fee to add additional hidden profit to your deal. The last time that I checked, its base acquisition fee was $595. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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