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You are in the Prices Paid - Buying & Leasing Experiences
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Subaru Legacy, Car Leasing, Sedan, Wagon
#56 of 609 Re: Legacy Leasing for Nov '06 [looking4lease]
Nov 21, 2006 (8:28 am)
Greetings looking4lease. Subaru's current buy rate lease money factor and residual value for a 2007 Legacy Limited Sedan with 10,000 miles per year are .00270 and 72%, respectively. The residual value for an otherwise identical lease with 15,000 miles per year is 2% lower.
I see that you are considering making a $2,000 down payment on your lease. I always advise consumers not to make down payments when leasing. I do so because if their leased vehicle is totaled in an accident or stolen and never recovered, their down payment essentially disappears. Consumers can and should lease any vehicle that they want without making any sort of capitalized cost reduction. All you will have to pay at lease signing are your vehicle's first month's payment, security deposit, $595 acquisition fee, and any required state taxes or fees at signing.
I would be happy to give you my opinion of the deal that you are getting, but you never mentioned this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what the selling price is, it's difficult to say how good a deal this is. Subaru is currently providing $750 customer cash on this model, but I do not believe that this cash is compatible with its lease program.
Prices Paid Forum
#57 of 609 Re: 2007 Legacy GT Limited Sedan [subearu]
Nov 21, 2006 (8:32 am)
Thanks for the additional information, Brian. Subaru is providing $750 customer cash on the 2007 Legacy right now, but I do not believe that this cash is compatible with its special lease program. So I guess that for the purpose of a lease through the VIP program, this vehicle's capitalized cost would be dealer invoice. According to my calculations, if you were to lease a 2007 Legacy GT Sedan with an MSRP of $31,111 and a selling price of $28,791 through Subaru's captive finance company for 48 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $355.
Prices Paid Forum
#58 of 609 Help with lease numbers
Nov 24, 2006 (1:35 pm)
Can you help with some lease numbers for me as this is my first lease:
2007 Legacy 2.5i Special Edition Sedan Manual
Selling price 17,999 + options of $927 = selling price 18926. MSRP of the vehicle is 22094 (incl. options & delivery)
I'm looking at a 39 month 15K lease using the Subaru captive finance company / Sign & Drive promotion. I think the residual is 52% and MF is .00230, but can you double check those for me?
This lease is for PA which has a 6% sales tax and a 3% lease tax.
Using an excel lease calculator, I get the following numbers using the following assumptions:
Acquisition fee: 595
Tax 9% (6% + 3%)
Subaru Lease cash (which IS compatible with special lease promotion: (- 750)
Dealer CAP reduction under Subaru Sign & Drive Lease: (- 1057)
Total depreciation 7928.46
Monthly Depreciation 203.29
Monthly Finance fee 71.08
Monthly payment 274.38
The dealership claims that they are using the same MF and residual, but are coming up with a payment of 287 per month. I realize that it's not a lot of difference, but I'm trying to figure out where the difference comes from.
Also, how is end of lease buy-out pricing obtained? Is it the cap cost / sale price minus the total depreciation (in this case 18926 - 7928 = 10998)?
Thanks for your help!
#59 of 609 Lease on 2007 Legacy GT question
Nov 29, 2006 (6:42 am)
Dealer in New England gave me these price quotes:
2007 Legacy gt ltd sedan. , with spoiler--xm radio--subwoofer;
24mos 15k/year.$551.95 monthly(including tax and fees)
$1557.89 out of pocket
36mos. 15k/year. $495.80 monthly(including tax and fees
$1501.74 out of pocket
This for MSRP of $31,449 and Invoice of $29,101
These numbers seem to be way out of whack with what Edmunds lists as current Subaru deals. Or am I missing something??
Dec 03, 2006 (10:43 pm)
My 2003 special edition is off lease on the 21st. I'm looking into getting another Legacy but can't decide if the extra cost of the GT with the premium fuel, extra insurance, is worth it. I'll probably stay with the special edition.
Two questions: is it worth trying to find an 06 GT and see if I can get it at a bigger discount than the 07? Does the fact that it's already a year old effect the price since it's already depreciated?
(ok three questions...) I see that many people say that they want to lease with no money down or even that it's not good to put money down...is that the best way? I had to put down about 3 grand for the last one. I see though that there is a special program on now for new cars, and wonder if I can get a good deal on one since I also get the loyalty 1% discount. The only problem is that I'm 20,000km over on my mileage which is about 2 grand I'll have to pay unless I can get them to absorb it. What is the best way to proceed. I have to do this soon.
cdndriver. Oh, I live in Toronto, Canada
#61 of 609 Re: Help with lease numbers [aparamedic]
Dec 14, 2006 (4:35 am)
Welcome aparamedic. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Let's take a look at this deal. You were quoted a discount of $3,168 on a 2007 Subaru Legacy 2.5i Special Edition Sedan. This vehicle only has a spread of a little over $1,200 between its full MSRP and dealer invoice price. Add to that the $750 lease cash that is currently available on this model and we come up with a total of around $2,000 to play with. As you can see, the selling price that you were quoted for this vehicle is excellent. The money factor and residual value that you were quoted for this car are right on the money as well. If you like it, I personally don't see any reason not to pull the trigger on this deal.
Vehicles' residual values are base upon a percentage of their full MSRPs including the destination charge and the MSRPs of any options that can be residualized.
Prices Paid Forum
#62 of 609 2007 Legacy GT
Dec 27, 2006 (6:28 pm)
Car_man, can I get some help with a 2007 Legacy GT with 30,303 MSRP and 26266 selling price for a 36 month lease and 12K miles/year. I am looking for MF and residual value to figure out lease payments. Thanks
#63 of 609 Re: 2007 Legacy GT [plevyva]
Dec 28, 2006 (10:14 am)
Just to add some more info, the dealer quoted $446.61 monthly payment on a 3 yr lease 12K miles/year and no down payment other than 1st month payment.
It appears they are using a .003 MF and 49% residual..are those the right values?
#64 of 609 Re: Help with lease numbers [Car_man]
Jan 07, 2007 (8:36 am)
This is my first ever "attempt" at leasing a car. The dealer is in San Antonio, Tx.
2007 Legacy 2.5i special edition MSRP $22,420 42 months $293.58 for 42 months $2,200 down residual $11,658.40. I don't remember the exact selling price it is around #20,4xx. The advertised price is $20,999. The interest factor is .00260 & residual rate is 52%. Is this a fair price or should I walk? Thank you
#65 of 609 Re: Help with lease numbers [retiredguy]
Jan 07, 2007 (11:29 am)
I just leased a Legacy Special Edition for $276/month with a $1,500 trade-in allowance and $500 out-of pocket. Details: 42 month 12k miles/year. Very pleased with the car and the lease terms. Includes tax, etc.