Last post on Dec 06, 2013 at 7:25 AM
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Subaru Legacy, Car Leasing, Sedan, Wagon
#79 of 609 medical student wanting to lease.
Apr 06, 2007 (9:07 pm)
I'm planning on leasing a 2007 Subaru Legacy 2.5i SE Sedan. However I'm not sure if me being unemployed (since I am a full time medical student) would affect my chances of getting a good deal on a lease. I have been in contact with Lynnes Subaru in Northern NJ and I have been told that the lease rates for the Legacy 2.5 SE and GT would be the following: $275/month sign and drive for 36 months 12K miles/yr or $179/month with $2594 due at signing for 36 months 12K miles/yr both for Tier 1 and 2 credit. I jst checked my 3-bureau credit report today and my FICO score ranges from 680-699.
I would really appreciate it if you can give me some rough numbers as to what i would most likely qualify for considering my credit score and being a full time student.
#80 of 609 Re: Good Deal? [nickc3]
Apr 25, 2007 (1:44 am)
Hi nickc3. I assume that VIP is Subaru's name for its supplier purchase program. If so, the fact that you are able to purchase a vehicle through it should guarantee that you are getting a good deal on this car. Still, it wouldn't be a bad idea to find out the exact MSRP and selling price that are being used to calculate the monthly payment that you were quoted. I always advise lessees to find these numbers out for any vehicle that they want. Also, make sure that the dealer that you are leasing through uses Subaru Finance's buy rate lease money factor to calculate your car's monthly payment. Its current buy rate for a 24 month lease of a 2007 Legacy Special Edition Base Sedan is .00225. The buy rate for a 36 month lease of this car is .00230.
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#81 of 609 Re: First Time Leasing, Need Help [liz15]
Apr 25, 2007 (1:49 am)
Welcome liz15. 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.
What is this car's full MSRP? If you let me know I can see how much of a discount you are being given on it and give you my opinion of this deal.
Subaru Finance charges a $595 acquisition fee on every vehicle that it leases. Individual dealers do not have the authority to waive this charge, but they do often have the ability to pad it to try to hide extra profit in deals. It looks like the dealer that you are working with is trying to mark-up Subaru's base acquisition fee by $100.
Subaru Finance's current buy rate lease money factor for a 24 month lease of a 2007 Legacy 2.5i Limited Sedan is .00265, which is equivalent to an interest rate of around 6.36%.
Prices Paid Forum
#82 of 609 Re: First time lease, should I buy out? [cfc247]
Apr 25, 2007 (1:57 am)
Hi cfc247. Where did you get the $17,800 buy out price? Is it the end of term purchase option that is listed on your lease contract? If so, in order to purchase your Legacy you would have to pay this price PLUS all of your remaining lease payments, or at least the depreciation portion of them to buy your car right now. You probably will be better off waiting until the scheduled end of your current lease to decide if you want to purchase your Legacy.
Prices Paid Forum
#83 of 609 Re: medical student wanting to lease. [rubensmadder]
Apr 25, 2007 (2:05 am)
Hi rubensmadder. Your credit score is certainly good enough to lease the Legacy that you are interested in, but I am not sure if the fact that you are not currently employed will make Subaru Finance hesitant to lease a vehicle to you. It very well might. You really need to sit down with the F&I person at a dealership to find out.
If you are able to lease this car, you really need to find out what its full MSRP and selling price are before finalizing your deal. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It is difficult to tell how good a deal you are getting on your Legacy without knowing what these numbers are.
Once you have a selling price that you are comfortable with, make sure that the dealer that gives it to you uses Subaru Finance's buy rate lease money factor to calculate your monthly payment. Its current buy rate for a 36 month lease of a 2007 Legacy 2.5i SE Sedan is .00230.
Prices Paid Forum
#84 of 609 Re: Subaru Legacy: Lease Questions [Car_man]
Jul 07, 2007 (7:52 am)
Does anyone know what the word is on Quirk Subaru in Braintree, MA? They have a 2 yr Legacy lease for $79/mo. Sounds too good to be true to me...
Thanks for sharing experience.
Annie on Nantucket
#85 of 609 Re: Subaru Legacy: Lease Questions [nantucat]
Jul 10, 2007 (9:25 am)
I'd hate to see what was due at signing, probably $10 grand.
#86 of 609 Re: Re: Subaru Legacy: Lease Questions [Car_man]
Jul 11, 2007 (12:29 pm)
Hi Car man. I have a price for a 2008 legacy SE sedan 2.5i automatic of $20,000 plus tax and motor vehicle fees. If I were to lease it for 48 months, with 15,000 miles per year, what would my payments be?The car would be purchased in new Jersey. The MSRP for the vehicle is approx.$23,000.
#87 of 609 Subaru Legacy: July Lease Rates
Jul 17, 2007 (6:20 pm)
Do you know what the July residual value and money factor are on a 2008 Legacy GT and Legacy GT spec.b. I was recently quoted 56% and .0026 (GT) and 50% and .0026 (spec.b). These were for 36 months and 10,000 miles a year. Do these sound right?
#88 of 609 Re: Subaru Legacy: July Lease Rates [ericmd]
Jul 26, 2007 (3:44 pm)
Today, I was quoted the following for a 2008 Legacy GT:
MF: .00185 (4.44%)
This is for 36 months / 15,000 miles