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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
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Replying to: jstlookin (Apr 08, 2009 5:08 pm) and what mileage per year? |
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Replying to: jstlookin (Apr 08, 2009 5:08 pm) Manufacturer's List Price : $23,825.00 Heuberger Motors Internet Price: $19,677.00 (Including $595 Acquistion Fee). The Legacy SE I'm looking at is almost $1,000 higher MSRP and is almost $1,000 lower sale price. That equals $241.69 monthly payment on a 36 month/ 12K per year lease including my 7% sales tax and ZERO down. The only reason I haven't signed the lease agreement yet is I have one dealer telling me they can add the $1400 Special Edition discount back onto MSRP to calculate the residual and one dealer telling me they can't/won't do that. The dealer that will doesn't have the car I want. If I can convince Heuberger Motors to use the pre discounted sticker price of $25,225 my monthly payment will be $219.45 including tax. You should be able to get a loaded out 2.5i Limited for $275 a month with zero down. I'd hold out a while longer. Plus, the 2010 Legacy is going to be completely redesigned so the 2009's will soon be even less attractive. Hold out 1-2 more months and you'll be able to get a 2009 for under $200 with nothing down.
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Replying to: chuck68516 (Apr 08, 2009 7:54 pm) The MSRP was the same as yours (chuck), i just used the Edmunds MSRP. They are e-mailing me the sticker today so I can compare it. As far as residual, I am using the $14,XXX from the Subaru website on the details of the lease offer. Big question, when using an online lease calculator, I couldn't get the standard Subaru lease offer to work without removing $300, so that is what I was using as a baseline. Do you happen to know where that comes from? When I get home and see the sticker price, I will put all the details in. Thanks for your help!
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Replying to: jstlookin (Apr 09, 2009 3:58 am) Residual is 57% and MF is .00170 on a 36 month lease. The actual figured MSRP $23,825 (plus $1750 Special Edition Discount) is $25,575. Actual residual value is $14,577.75. Cap cost including acquistion fee of $595 is $19,667. Monthly payment is $213.87. From Subaru's Website: "Now through April 30, 2009 - $199 per month for 36 months with $1,999 due at lease signing. $0 security deposit. Tax, title and registration fees extra. Other leases available on other models. Cannot be combined with any other incentives. Offer ends April 30, 2009. MSRP $22,990 ($695 includes destination delivery charge). Total net capitalized cost after $1,500 lease cash of $19,184 includes $595 acquisition fee. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, dealer documentation fees, options, insurance and the like. Not all buyers may qualify. Dealer participation may affect final cost. At lease end, lessee responsible for vehicle maintenance repairs not covered by warranty, excessive wear/tear and 15 cents/mi. over 12,000 miles/year and $300 disposition fee. Total monthly payments $7,164. Option to purchase at lease end $14,102." This ADVERTISED "LEASE DEAL" is with $1999 down and does not include tax. The ZERO down payment would be $256.68 NOT INCLUDING TAX. That's $57.78 more than my deal pre-tax. As you can see, the advertised "LEASE SPECIALS" on the Subaru website are absolutely useless. Anyone can get a WAY better deal than that. Just concentrate on the lease numbers and getting the dealer to go WAY under invoice price. Everything else will work out. To further illustrate the ridiculousness of the Subaru website's "LEASE SPECIALS" I also have a quote for a ZERO down 10,000 mile/ 36 month lease of a 2009 Tribeca Special Edition MSRP $32,753 including 7% sales tax is $373. Website says: "Now through April 30, 2009 - $319 per month for 39 months with $2,999 due at lease signing. $0 security deposit. Tax, title and registration fees extra. Other leases available on other models. Cannot be combined with any other incentives. Offer ends April 30, 2009. MSRP $31,990 ($695 includes destination delivery charge). Total net capitalized cost after $2,500 lease cash of $25,711 includes $595 acquisition fee. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, dealer documentation fees, options, insurance and the like. Not all buyers may qualify. Dealer participation may affect final cost. At lease end, lessee responsible for vehicle maintenance repairs not covered by warranty, excessive wear/tear and 15 cents/mi. over 10,000 miles/year and $300 disposition fee. Total monthly payments $12,441. Option to purchase at lease end $15,693." That advertised $319 a month is with $2,999 down and DOES NOT include sales tax. Subaru's ADVERTISED LEASE with ZERO DOWN would be $408.05 not including tax. That's $59.05 a month more than my pre-tax deal.
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Replying to: chuck68516 (Apr 09, 2009 8:16 pm) They are offering me 20,565 after the $1500 lease cash. I think they are not including destination, and I just called them out on that. I usually never have a problem getting dealers under invoice, but there are barely any Legacys on the lots out here...so it makes it tough. Also, you mentioned waiting for the 2010's to come out....wont that reduce the residual and make the actual lease prices go up? I've run into that in the past. Thanks again for the help.
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Replying to: jstlookin (Apr 09, 2009 8:42 pm)
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Replying to: chuck68516 (Apr 09, 2009 8:51 pm) How are you figuring out your numbers? I am using a lease calculator online and i ran the scenario of $25042 (MSRP +$1700 SE discount) - Negotiated price at Edmunds invoice of $21921 (including destination) + $595 acquisition fee -$1500 rebate, 0 down (net cap cost of 21016) 57% residual ($13305) and money factor of 0.00170 for 36 months and I came up with $272.54 + tax. Am I missing something. I usually don't lease so I am trying to wrap my head around all the numbers that can be played with before I make a deal. Thanks again!
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Replying to: jstlookin (Apr 09, 2009 9:18 pm) Your adjusted MSRP is $23,342. Add the Special Edition Discount of $1750 back onto that, $23,342 + $1750 = $25,092. Residual is 57% of that = $14,302.44. If your sale price is INVOICE it's kind of high but using the net cap cost of $21,016 minus the residual of $14,302.44 = $6,713.56 divinded by term of 36 months = $186.49. Next, take residual, $14,302.44 plus net cap cost of $21,016 = $35,318.44 multiply by MF of .00170 = $60.04. Add $186.49 plus 60.04 = your pre-tax payment of $246.53. As I said, if you are going with invoice, you are doing yourself a disservice. You should easily be able to negotiate to well below invoice. I'm at $19,072 sale price on an MSRP of almost $500 more than the one you are looking at.so you should be at $18,500 at least. As far as finding a better deal goes, you can do everything by email and even have a delaer FedEx you the paperwork. Don't just settle with what you can get locally. Check all the high volume dealers in your area. Worst case scenario, you fly from Kentucky to Denver, CO for less than $220. The dealer can/will pick you up from the airport even. I'd do it to save myself over $2,000 in higher payments.
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Replying to: chuck68516 (Apr 10, 2009 12:52 am)
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Replying to: jstlookin (Apr 10, 2009 3:56 am) Options Include: •All Weather Floor Mats •Auto-Dimming Mirror w/Compass •Convenience Group 1 •Off Black Center Armrest Extension •Rear Dome/Reading Light As you can see, if one dealer can sell a car for $19,072 probably ALL dealers can do so. This price quote was after one email. I've been back and forth with my dealer several times to reach their final "BEST" offer. Keep after them. You can now tell your dealer that Joseph Subaru is at $19,434 and "CAN YOU AT LEAST MATCH THAT PRICE?" Pit them against one another.
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