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You are in the Prices Paid - Buying & Leasing Experiences
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Subaru Legacy, Car Leasing, Sedan, Wagon
#317 of 609 Re: Lease :l2009 Legacy SE [jstlookin]
Apr 09, 2009 (8:16 pm)
CORRECTION: I said the Special Edition Discount on the sticker was $1400. It is actually $1750.
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.
"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.
#318 of 609 Re: Lease :l2009 Legacy SE [chuck68516]
Apr 09, 2009 (8:42 pm)
Thanks for the info. The one I am looking at in in KY so I can't get the deals that I could in CO. (I just moved from Denver so I know how it is!). I'm still working with them to see what they can do. Sticker on the one I'm looking at is $23,342...inlcuding destination and the SE discount.
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.
#319 of 609 Re: Lease :l2009 Legacy SE [jstlookin]
Apr 09, 2009 (8:51 pm)
The residual can usually go down 1% every couple of months but it depends on supply and demand. My local dealers have a ton of Legacy's and Imprezas. I don't see either model depreciating more than 2% by August.
#320 of 609 Re: Lease :l2009 Legacy SE [chuck68516]
Apr 09, 2009 (9:18 pm)
You have been a great help chuck...thank you.
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.
#321 of 609 Re: Lease :l2009 Legacy SE [jstlookin]
Apr 10, 2009 (12:52 am)
I just use a calculator and/or some scrap paper to calculate my leases. Simple math is all you need. 99% of the online lease calculators don't give you an accurate payment, especially the Edmunds's lease calculator.
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.
#322 of 609 Re: Lease :l2009 Legacy SE [chuck68516]
Apr 10, 2009 (3:56 am)
Thanks again Chuck. That was a huge help. I will keep shopping the price. Now that I have a more solid calculation....that will help.
#323 of 609 Re: Lease :l2009 Legacy SE [jstlookin]
Apr 10, 2009 (7:12 am)
I sent a couple emails for you. Joseph Subaru in Florence just sent me a quote, $19,434 sale price on an MSRP $23,276.
•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.
#324 of 609 Re: Lease :l2009 Legacy SE [chuck68516]
by kyfdx@Edmunds HOST
Apr 10, 2009 (8:54 am)
I called Joseph when shopping for my Subaru.. They didn't have the unit I was interested in (manual Impreza sedan), but they were very upfront with pricing... got a really good vibe from them..
Just my $0.02...
#325 of 609 Re: Lease :l2009 Legacy SE [kyfdx]
Apr 10, 2009 (10:37 am)
I agree, they are very honest and upfront. The salesman said that was his absolute lowest price he could offer until they earn their Subaru sales volume discount perhaps at the end of the month maybe sooner. Sounds legit.
#326 of 609 2.5i SE Rebates/Dealer Cash
Apr 10, 2009 (4:40 pm)
Can anyone confirm if there are any rebates (cash to customer/dealer) that would apply in the New York state/northeast region? I am looking into a lease and want to know what other incentives or rebates are out there that I can incorporate in to my negotiations. Thanks in advance.