I leased a 2017 Subaru Outback Limited w/ eyesight/nav/moonroof in July of 2017. I have about 15 payments left and 27k miles. I thought I would try to trade in or sell early. I checked the value on KBB and Carvana. It is less than the lease buyout!
KBB: $22,600
Carvana: $21,000
Amount Owed: $26,900
Lease Buyout: $22, 500
Update 2/18/2020:
4 months from lease termination. Not looking like I will have any equity.
Owe: $23,600
Buyout: $22,500
Carvana Value: $18,500
Wasn’t your car stolen and then returned? Is it showing up on your carfax or autocheck? Both of those would impact your value.
That said, I’m being quoted $34k for an Outback 3.6 Touring with an MSRP just south of $41k - a 2019. Those kinds of discounts, in part because a new Outback is expected come this fall, are going to steepen the initial depreciation curve.
My guess is it will balance out towards the end of your lease.
Right now, it isn’t showing as stolen on the carfax. I think it will eventually.
Also, I was thinking the Ascent being in the lineup made the Outback drop.
If you’re really curious, check AutoCheck too - that’s what Carvana and the like use to offer quotes. Regardless, it isn’t unusual for folks to be upside down during the course of their lease.
the 2020 Outback will be completely redesigned to be more like the new forester.
2019 and before is the old generation
Negative equity in the middle or even at the end of a lease?
Color me shocked.
Don’t buy a new car if you don’t intend to keep it for the terms of the lease…
Are you talking about buying or leasing?
You still have a whole year of depreciation remaining.
I leased the car
Even with that I am expecting the buyout to be above what they are selling for.
I have one too…but only about 8 payments remaining.
Virtually all leases are upside down throughout the entire lease. The only exceptions I’ve had in my life was a 2009 (2010?) MB 350…last year of model…they were blowing them out for 20K under MSRP…so I was able to actually trade it in within a year for a little positive equity!
You can get new ones for 6k off MSRP. Why would someone buy it at 25k?? I Can get a limited for 29500 now, there is also a new one coming too.
2020202020202
Anyone notice how terrible Subaru’s are?
They are like your old 80s Toyota, boring as hell but usually pretty reliable. I am leaning a Prius over them, that’s how much more boring they are…
the 3.6R drive is leagues ahead of a prius.
however subaru interior is outdated, engines meh, and cvt is negative points.
it has a crazy loyal customer base, which to be fair, is useful for what they want
3.6L is going bye-bye. You are now stuck with that crappy FB NA boxster engine. It isn’t a matter of fast or slow, it just sounds horrible and it discourages you from revving. I hate the styling of the Prius, but the Subarus are not exactly attractive either. We are going car shopping this weekend. I am going to give Subaru a shot, but I am leaning more and more toward the Prius unless she wants to get an Ascent. It looks less dorky and it doesn’t have that horrible NA engine, but then we don’t need that giant car.
Get the Forester then
It comes with that crappy 2.5L NA engine, I hated it when I had a Subaru. The only saving grace is that it is way bigger and it sits and rides like a CUV instead of a sedan. We will see how it goes once we see in it. The dealer I am working with is willing to do $4K+ off. Maybe the lease numbers will be so good that I have to get it.