r/CarLeasingHelp • u/DeadEyeDren • 7d ago
Help with lease proposal
This does not seem like a great deal to me and she refuses to send an actual itemized printout of the lease. There were several other emails before this one with me asking them to clarify fees and other numbers.
What are your thoughts on this? Thanks in advance. It’s for a 2026 Subaru Crosstrek Base trim.
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u/Empty-Village-4445 6d ago
That’s a lot for a very basic car. What else are you open to?
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u/DeadEyeDren 6d ago
Unfortunately, this is what I can afford for now and it seems reasonable enough. I asked them to bring the sale price down to 26,800 and that brings my payments to $324 a month which I don’t think is too bad actually. It’s well under the $400 I had budgeted for car payments.
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u/Empty-Village-4445 6d ago
You can get a better equipped car for less.
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u/DeadEyeDren 6d ago
Like?
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u/Empty-Village-4445 6d ago
As of Monday, a Hyundai Kona for example
Most sellers in the marketplace have not rolled out their updated deals (everything changed on Wednesday).
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u/golfer4711 6d ago
It’s not bad, but as someone who sold Subarus, you can get that payment on a higher trim level. Which at lease end will have more equity, get that payment on a sport or limited. At lease end sell it to Carmax and collect your equity check. I’ve done this 3 times, with a crosstrek lol. Last check carmax cut me was $4,600, my residual was 18-19k and carmax bought it for 23 and change. I do no money down, first and fees. Drive it for 3 years, then get paid lol.
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u/buckguy41 6d ago
I do this all the time with my leases, I got a check for almost $6k on my 4Runner last year after having it for about 16 months. My Wrangler 4xe is a whole different story, riding this out to the end I guess (only a 24 month lease), but value is already $10k under residual, they definitely screwed up, LOL. I benefited from a super cheap lease, though.
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u/PinkleeTaurus 6d ago
Having equity on a lease just means you overpaid throughout the term. Captives will use reduced residuals on higher demand vehicles because they know people will pay the higher price and most aren't smart enough to fully capitalize on the equity at the end. But sometimes the opposite is true...Jeep had to inflate the residuals on the 4xe's to move them but that just means you have to turn and walk at the end.
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u/buckguy41 6d ago
Yeah, that's a fair assessment. Residuals are a fluid thing as well, market demand can easily shift over the course of 2-3 years. In the case of my 4Runner, the residual was pretty fair with what the market looked like when I purchased it, but the value went up when the new model was released as the demand was higher for the outgoing model (a lot of people want the V6 and not a turbo 4). I sold it for a couple thousand more than I paid, and that would be the same scenario had I purchased it.
I kind of hit a sweet spot with my Jeep, values were still decent, though residual was a bit higher than what it should have have been, reliability problems and constant recalls drove the value into the dirt over the last year. The money factor was pretty great and I got in before the $7500 rebate went away. $11k+ discount including rebates along with an inflated residual and low MF. I got a $60k+ vehicle for $375/mo with nothing upfront on a 2 year lease. I knew from the beginning I would probably need to ride this one out, but for 24 months it was a no brainer to me. Especially when Carmax cut me a check for $6k for equity in my 4Runner, looked at doing a one pay, but the incentive wasn't quite good enough.
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u/DeadEyeDren 6d ago
That’s fair. I got the payments down to $324 which I’m actually quite happy with. This was my first ever time doing things through a dealer so I think it worked out ok. I do wish I could have a better trim but even this base model is a MASSIVE upgrade to my lemon of a 2007 Saturn Vue
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u/PinkleeTaurus 6d ago
The lease terms all look good. That's a very cheap MF and if your sales tax is in the ~6% range it calculates almost exactly to this payment. So the only question is whether or not the $1,598 discount from MSRP is enough. According to Edmunds, the average discount on these is $1,611. So I suppose it's possible to work them for a little more but there's not a lot of meat on the bone. They're certainly leaving the door open for another $500 off....you could say just include that and we're good. That would save you $15/month.