CasopoliS Posted February 21, 2006 Share Posted February 21, 2006 Just want to see if this is a decent deal, though I still like the idea of purchasing a used. My idea would be to lease then purchase it after the lease. I cannot afford one brand new right now. 2006 LGT Limited, Lighter blue with tan leather interior. Auto dimming mirror with homelink, short shifter with Momo knob option. Spoiler. ~$28,000 I think. With $6,000 down the lease would be ~$300 a month for 48 months. At the end of 4 years the buy-out price would be $12,000. Your thoughts? This was at my local dealer, I need to drive a bit to another where my buddy's uncle is the GM of the dealership for an even better deal... but just wanted to see if this was fair. For the hell of it I also priced a 2006 325i with no options. It was like $300 a month for only 24 months, and buy-out was around $24,000 after that. BMW offers some nice features and options, but it seems the price gets a little higher and higher with little things. Link to comment Share on other sites More sharing options...
john_knoxville Posted February 21, 2006 Share Posted February 21, 2006 if you can afford to put down $6k up front and another $12k in four years, then trust me, you can afford a brand new one right now Link to comment Share on other sites More sharing options...
feesh Posted February 21, 2006 Share Posted February 21, 2006 Doesn't seem like that great of a deal to me. Invoice on that car is around 27,800. With the current 1500 rebates, you should be able to get the price around 26,500 to 27 with little problem. also, if you have 6000 down, just buy the thing. 6 years at 6% is around 348 per month for 21,000. If you have to lease, at least get them to come down on the sale price. Link to comment Share on other sites More sharing options...
CasopoliS Posted February 21, 2006 Author Share Posted February 21, 2006 Thanks for the input. They quoted me like $495/month for 60 months with $6,000 down. Yea. Link to comment Share on other sites More sharing options...
CasopoliS Posted February 21, 2006 Author Share Posted February 21, 2006 Actually BMW and Lexus ask for at least $3,000 down from what I have seen. The guy on the phone was like "well you have to add in delivery and truck fees, floor mats, other necessary fees, title fees, etc etc" Riiiight. I would never put down a lot on the lease unless I planned to buy. That is probably why the dealer was trying to push me that way. I am trying to round up a family member to go check out this LGT in Maryland that plunk10 is selling. It would be my best option. He is asking $20,500 and with $6000 down my payments would be low. I just got pre-approved for $20,000 while looking at another car... so if I can get it for $20,000 all the paperwork is already done, I just need to sign the loan. We shall see once I get someone to look at it for me. (I live in Ohio like 8 hours away). Link to comment Share on other sites More sharing options...
Gt4Me Posted February 21, 2006 Share Posted February 21, 2006 or why not finance it for 72mo.? I think you'd still make out a little better than doing the lease(millage,wear and tear) and then refinancing. I bought a used '05 GT un-limited(like the cloth, feels more sporty) for just under 20k, has a sub,auto dim, sportshift. 5k down, $326 for 60mos. I always send in a liitle extra and hopefully I'll pay it off early. Link to comment Share on other sites More sharing options...
CasopoliS Posted February 21, 2006 Author Share Posted February 21, 2006 Yea I would rather just pick up a used one where someone has already eaten the depreciation. If the dealer is going to sell me one for $28, and I can get a great looking one for $20,000 that only has 20k miles.... I would be better off doing that. You guys have to agree that $20,000 for an LGT limited with only 20k hwy miles is a good deal. am I right? Link to comment Share on other sites More sharing options...
Gt4Me Posted February 21, 2006 Share Posted February 21, 2006 I'd say thats a good deal. Probally about a grand less than the average price right now. I assume it's a manual. Link to comment Share on other sites More sharing options...
bradE Posted February 21, 2006 Share Posted February 21, 2006 That lease sounds very high. I leased my 05 Legacy GT Limited Sedan (same color combo) for $400/month with 1st payment due at signing ($0 down), 15k per year for 3 years. Buyout is just over $13k. Mine is still for sale Link to comment Share on other sites More sharing options...
CasopoliS Posted February 21, 2006 Author Share Posted February 21, 2006 Yes it is a manual. I am having someone go look at is this week. The dealer called me just now. I would not get this car, but here is a 05 WRX price they gave me: NEW 2005 WRX with premium package, spoiler, heated seats, upgraded sounds system, heated mirrors, heated washers, moonroof, etc, etc (I forget what all these come with) maybe 400 miles on it $27,120 list $25,483 invoice ~$22,900 after rebates, incentives, etc Black on black I don't think they ever said if it was manual or auto...... but the list price should show. I don't know what these went for so I have no clue about pricing on these. Here is KBB on the 05 WRX w/premium MSRP http://images.kbb.com/images/wsr/nchub/whatsThis.gif $ 27,120.00 http://images.kbb.com/images/learnmore/spacer.gif Invoice http://images.kbb.com/images/wsr/nchub/whatsThis.gif $ 25,208.00 http://images.kbb.com/images/learnmore/spacer.gif New Car Blue Book Value http://images.kbb.com/images/wsr/nchub/whatsThis.gif What consumers are really paying for this vehicle $ 25,838.00 I would rather have the LGT, and my wife hates the WRX's, but anyway I could probably get this for $22 if it was an option. Link to comment Share on other sites More sharing options...
CasopoliS Posted February 21, 2006 Author Share Posted February 21, 2006 That lease sounds very high. I leased my 05 Legacy GT Limited Sedan (same color combo) for $400/month with 1st payment due at signing ($0 down), 15k per year for 3 years. Buyout is just over $13k. Mine is still for sale Eh, you are a little further away, and the price is a little higher than I would like to pay. It is a good price for the miles I guess, just not what I am looking for. Thanks though! Link to comment Share on other sites More sharing options...
fzanetti Posted February 21, 2006 Share Posted February 21, 2006 This price is way high... Mainly because of the 6K down payment, I will reiterate what ppl have said, you NEVER put a huge down payment on a lease, for just one small detail: let's say in the first year or so you either total your car (crash) or gets stolen, what happens? Nothing, you will just walk away without the 6K and without a car... Think about it... Flavio Zanetti Boston, MA Link to comment Share on other sites More sharing options...
CasopoliS Posted February 21, 2006 Author Share Posted February 21, 2006 Yes I totally understand. It was more like.... "well sir if you have $6k today we can get you into a nice lease". I really just wanted to test drive the car, but they insisted on giving me all the options. They will probably be calling me I think the WRX deal is good if that is the car I actually wanted. Link to comment Share on other sites More sharing options...
red_suby Posted February 21, 2006 Share Posted February 21, 2006 Check fitzmall.com. They have good deals for 2005 LGT. Link to comment Share on other sites More sharing options...
TSiWRX Posted February 21, 2006 Share Posted February 21, 2006 I don't know/remember what part of Ohio you're in, bro, but I'm in Cleveland. Here, for my '05 limited w/factory spoiler and STi short-throw kit, my 48-month lease (15K miles per year) came to $2,700 down, 329 per month. Pricing tends to vary a bit depending on your exact location. I know west-coast guys who would laugh at how much I paid..... Best of luck! <-- I love Winky, my "periwinkle" (ABP) LGT! - Allen / Usual Suspect "DumboRAT" / One of the Three Stooges '16 Outback, '16 WRX, 7th Subaru Family Link to comment Share on other sites More sharing options...
CasopoliS Posted February 21, 2006 Author Share Posted February 21, 2006 thank you for the info. I will not lease the car though... I have at least made that decision. The only decent offer the dealership has given me is the WRX for $22,000. Link to comment Share on other sites More sharing options...
TSiWRX Posted February 22, 2006 Share Posted February 22, 2006 NP. Just saw that your thread topic title read "lease," so I thought I'd chip in. Best of luck! -A <-- I love Winky, my "periwinkle" (ABP) LGT! - Allen / Usual Suspect "DumboRAT" / One of the Three Stooges '16 Outback, '16 WRX, 7th Subaru Family Link to comment Share on other sites More sharing options...
CasopoliS Posted February 22, 2006 Author Share Posted February 22, 2006 Think I might go drive the 05 WRX tomorrow just to see what it is like with the premium package. Link to comment Share on other sites More sharing options...
Reagan Posted February 27, 2006 Share Posted February 27, 2006 If you want to know what you should pay, use the calculator on this page: http://www.leaseguide.com/calc.htm If you run the math, you are getting scr$wed. If you only get them to take $1,400 off at GT ($28K selling price), count in your $6K + the 2K in rebates ($1,500 advertised plus $500 if you lease through Subaru), use a residual of 50%, do 36 months, use Subaru's lease factor of .00164, and use 7% sales tax, your payments will be $233 / month. In other words, they are trying to retire off of you. Hope this helps. Regards, Reagan Link to comment Share on other sites More sharing options...
CasopoliS Posted February 27, 2006 Author Share Posted February 27, 2006 No joke that was a great post. I am buying an 05 LGT limited this week, and picking it up from MD March 11th. Counting down.... Link to comment Share on other sites More sharing options...
941LE Posted February 28, 2006 Share Posted February 28, 2006 $300x48 months = $14,400 + $6,000 down = $20,400 to "rent" the car for 4 years. $12,000 to purchase...= $32,400 for a car you can probably buy now for $26,000. And that's no including any Finance charges if you take out a loan for the final $12,000. You can buy the car for about $400/month with the $6k you are putting down even if you include about $2k in tax and other BS. Now figure $400x60 = $24,000 +$6k down and $2k in tax, lic and whatever = $32,000 and you are owner of the car in 5 years said and done. If you can swing an extra $100/month now and are planning to buy the car anyway, Pop for it and buy it now rather than deferring the purchase for 4 years and if you plan to finance a used car for $12,000 over 48 months (keeping your payment around $300/month) you'll now pay almost $2,000 in interest on that loan meaning your final purchase would be $34,200 and that still doesn't figure tax and will be 8 years old by the time you own it. Buy now! Rates are still fairly low on new car purchases, if you go through a Credit Union you should do alright since Subaru doesn't have many financing specials unless you can swing a 36 month term. You'll save yourself $ and own the car in 5 years vs 8 years. Link to comment Share on other sites More sharing options...
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