Marin county, California.
Replacing a '21 Ascent with a '24, because they seem to be 10% cheaper than comparable 3-rows and we’ve been happy thus far.
I know that baseline MF and RV are .00193/64%, so I’m getting beat up a bit on MF, but massive discount on selling price. Another dealer was willing to match the MF/RV, but only a $2k discount on selling price, so monthly comes out $85 higher. Any thoughts or tips?
Is a trip to so cal worth it to get it from @Jeff_BeachCitiesAuto
Have you done a lease vs. buy comparison?
2.9% APR on 48 months only, so it’d be considerably more per month (~$1k) without putting a big chunk down. We wouldn’t pay cash for it, and would rather not put a large down payment down.
Your quote sheet doesn’t show any equity from your returning Ascent.
So if you take the new lease,
you’ll have paid 6 years of payments to drive an Ascent and have how much equity at the end?
Since your inquiry is the type of post that tends to attract advice to talk you out of leasing… let us understand your wants/habits first.
Do you highly value being in a brand new vehicle still under manufacturer warranty?
Do you fully understand that leasing typically does not build equity (since lease payments are only paying depreciation and interest, not making payments to the underlying principal).
Is your goal to save maximum dollars while using a 3 row Subaru? To which operating a 4 or 5 year old Ascent is acceptable instead of constantly cycling brand new Subarus?
The Acq fee isn’t $1215, what are the other non-tax fees?
What’s the best rate available to you for 72 months (2 leases) and what does that payment look like?
You’re comparing payments. Look at actual costs.
With a purchase you have an asset left at the end that you can sell for thousands of dollars.
Are we really on a forum called “leasehackr” debating whether a lease is a wiser financial move than buying? My intent wasn’t to debate the very nature of leasing, but to figure out if this is a good deal.
Lol, welcome to LH. I have a gut feeling I know what negative-lease-sentiment you’re responding to. Because I’ve asked the exact question you just posed. Some users really want to make people like yourself defend why they want leasing instead of helping people like you into a good lease. I’ve blocked/ignored those users… makes this site much more friendly to use.
So back to leasing, yes your deal is good, but could be a bit better. Ask for the buy rate money factor which should be 0.00209 vs the 0.00243 in your deal.
NorCal is really rough to try and negotiate good lease deals, so you will struggle to get more than that 11% off MSRP. As @anon65069371 indicated, some brokers in SoCal may be able to help get you into a better deal, but it usually means taking a trip down there to take delivery.
Good luck, and enjoy your next car!
Well, yes, b/c I think the main point of the forum back in the day (eg., pre-pandemic) was that leasing is awesome b/c the total cost of ownership can be much less than financing and why get a Toyota Camry when you can get a BMW 3-Series for the same total cost over 3 yrs?
I do think that the lease vs. finance is a valid question for brands that historically retain very resale values.
::shrug::
I agree that the lease vs buy topic is important. But I also believe it can be presented in such a way to not come across so off-putting to people who post their leases on the forum.
I don’t think any seasoned user of this site can fathom how bad it feels to have trusted hackrs descend on a thread to put the poster on the back foot to defend why they want to lease a car. Does anyone really like to be on the defensive? Heck no.
Few people post on LH thinking “hey you know, I really want to save money and I’m indifferent to lease vs buy, help me understand.”
Most people are saying “I want to lease, help me get a good lease.” So there ought to be a better way to ease the transition into “hey you may be better off buying.”
Yes, TLDR, you lease to get more car for less cash outlay. That’s the basic point. And I appreciate @holeydonut for seeing what it’s like to be on this side of having the convo derailed.
Don’t get me wrong, I appreciate tips, especially around lease end. It even prompted me to update my Carvana valuation, since we’re in overtime on the lease and we’ve actually accrued some equity since December. So, thank you for that.
Otherwise, many of the tips on this thread are pedantic. I’m going into leasing with eyes wide open. We own our other car outright. We thought we’d switch it up this time around, but the Ascent ends up being 10% cheaper than others in the class, and easier to deal on, so here we are, getting a few new things we’d like for a similar price as before.
The tone has been attacking in other threads. I personally did not find it at all attacking in this thread.
Subarus were often not a great lease even pre-pandemic, IIRC.
Except the Palisade that @Jeff_BeachCitiesAuto is offering?
It’s because you’ve been on the site so long and normalized to what used to happen.
As a result, whatever you perceived has “not at all attacking” actually felt to you as innocent and casual. I can tell you unequivocally that many new users do not like the experience of being put in a position to defend their desire to lease when they post possible lease structures on a forum called leasehackr.
BTW, I’m not meaning to put you on the defensive on this topic. You’re one of the best users on this site. One of the most moderate/smart users. I actually forgot why you weren’t nominated to be a new trusted since your mindset would be very welcome here. I just want to point out to you how the normal behavior of many users on this site actually gives off negative vibes to new users.
Not really. The place used to be great and then sort of went to hell ~1 yr ago? I hope that some posters who have been unnecessarily harsh in the recent past are trying to course correct.
I do not think I am normalizing anything. But I also do not think criticizing posters for their behavior on other posts improves things, TBH.
I do think it’s ironic (to put it diplomatically) – and off-putting – for the OP – who apparently has been a member for over 3 yrs here – to ask strangers for their feedback on a deal and then to criticize them for being “pedantic.”
Genuine suggestion: perhaps posters who don’t want a more full discussion should be recommended to write, “I don’t want any additional feedback other than, is this a good deal at this moment in time on this particular model.” And the regular posters here should adhere to that.
I appreciate your attempts to be diplomatic and measured. 
“So if you take the new lease,
you’ll have paid 6 years of payments to drive an Ascent and have how much equity at the end?”
“What’s the best rate available to you for 72 months (2 leases) and what does that payment look like?”
Yes, these are pedantic. Or at the very least beside the point.
If we’re being pedantic about the usage of the word, it’s the opposite. Pedantic would involve always recommending a lease on lease hackr, even when it doesn’t make financial sense.
indeed.
I only asked about a 72 month loan because you mentioned comparing this lease to a 48 month loan (special rate), which will always be considerably more.
You never responded to the question about the mistake in the calculator and fees, I would want to know what that payments worth of padding is before I signed this lease, but you seem to have that handled.
Good luck and enjoy your new Ascent.
Don’t engage the trusted in a back and forth. You’ll get nowhere on this forum. They always need to be right and get in the final word or mic drop.
You got some lease advice. If you like the car I think you know what to do next. If not, keep looking and consider other options as you see fit.
