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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
Welcome Harrigan. You're not barging in at all, that's what this discussion is here for  . I am not personally all that familiar with what the market is like for the Subaru Legacy in your neck of the woods, but for the sake of estimating a lease payment on the vehicle that you are interested in let's assume that you were able to get it for $750 over dealer invoice. According to my calculations, if you were to lease a 2006 Legacy GT Ltd that has an MSRP of $29,694 and a selling price of $28,060 through Subaru's captive finance company right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $451. The payment for an otherwise identical 48 month lease should be $396. Naturally is you are able to negotiate a lower selling price this car's payment would drop a little bit and vice versa. I don't think that Subaru Auto Finance has any sort of middle ground as far as mileage allowances go, I've only seen them offer 12,000 or 15,000 miles per year. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 13, 2005 1:55 am) Thanks.
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Replying to: cagorm (Oct 14, 2005 6:28 pm) Thanks. |
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Car_man: You helped me out a few years ago with a GMC Envoy. I am looking at an 06 Legacy Limited with a MSRP of $26,232 and a selling price of $24,152. Could you please tell me the money factor and residual for a 36 month lease with 12,000 miles a year? Also what would the rates be for a 48 month lease? Thanks, Phil |
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Hi cagorm. If you were to lease a 2006 Subaru Legacy GT Limited Sedan through its captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00230 and 52%, respectively. The numbers for an otherwise identical lease of the 2005 version of this car should currently be .00110 and 47%, respectively. When negotiating your lease on either of these cars, keep in mind that Subaru is currently providing $500 lease cash on both of them. This cash will help you to negotiate an attractive capitalized cost for your lease. Car_man Host Smart Shopper / Prices Paid Forums |
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Welcome back Phil. Here's the information that you are looking for. If you were to lease a 2006 Subaru Legacy Limited Sedan through Subaru's captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00210 and 52%, respectively. The numbers for an otherwise identical 48 month lease should be .00120 and 43%. Since you mentioned this car's prices in your post, I might as well estimate what its lease payment should be like for you. Using the above information, an MSRP of $26,232, and a selling price of $24,152, I estimate that this car will have a zero down, pre-tax 3 year payment of around $372 and a 4 year payment of around $401. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 23, 2005 6:53 am) Thanks for responding so quickly. I noticed in post #9 you refered to $500 lease cash being available. Would that also apply to my situation and when does that expire? Also, the figures I gave you in my original inquiry also included $1500 down. How would that impact my payments? Thanks in advance, Phil |
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Replying to: Car_man (Oct 23, 2005 6:53 am) |
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You're welcome Phil. Through November 30th, Subaru is providing $500 lease cash on the 2006 Subaru Legacy 2.5i sedan, 2.5i sedan Special Edition, and 2.5 GT Ltd. sedan only. As far as the $1,500 down payment that you mentioned goes, I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Legacy would be exactly the same, regardless of whether you had put $1,500 down, or had made absolutely no down payment at all. I can still work up a lease payment with this down payment for you if you would like, but as you can see making capitalized cost reduction on leases really is not a good idea. Car_man Host Smart Shopper / Prices Paid Forums
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Hi rws0131. I do not personally keep tabs on the details of manufacturers' balloon note programs. Most likely, the residual values for balloon notes of and leases of Subaru models are the same, but I am not 100% positive that is the case. Car_man Host Smart Shopper / Prices Paid Forums |
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