This is my first time leasing a car out of college and I went to subaru to look at a crosstrek and this is what i was presented:
Location - NJ, 08755
Credit: 730+
Car: 2022 Subaru Crosstrek Premium
MSRP: $27,085
Sale Price: $28,870
36 months at 10k miles
MF = 0.00195
$1,332 due at signing including trade in of current car for $1,000
$426/month
This seems extremely high and I left saying I needed time to think about it. I don’t know if this is too high and what I can do to lower the price. I wanted to keep my budget at about $300/month, is that reasonable?
You are on the wrong vehicle, crosstreks dont lease well. They make more sense on a finance but you will still be in the $400s on a 72-75 month. Impreza will be a lower lease or you’ll have to try another brand
what @Jeff_BeachCitiesAuto said. Also, double check the trade in value of your car through Carmax/Vroom/Carvana/others to make sure their trade in is fair.
Not reasonable, they are marking up the price and MF if you found a different dealer that would give you the base MF and sell at MSRP it still would be well over $300 a month. Need to look at a different vehicle to achieve your budget goal
As others have said, crosstrek’s don’t lease that well. My S/O got one in 2019, and had to stretch it to 42 months to get it to $300/mo. That being said, they hold their value (even pre-covid) extremely well, and even more so now. I’ve thrown her car through the 3rd party companies and have been getting offers over original msrp on a 2 year old vehicle. They’re great to finance but will be above your budget. But a car you can keep for 10+ years
Fun fact: avg. Subbie owner keeps their Subaru for 9.9 years! Subaru Forester owners average over 15 years of ownership.
OP, just because it is a low msrp vehicle it does not mean payment will be low. Many factors come in to play. If it must be a leased Subaru then reach to the brokers in the Marketplace and place an order.
Kia Soul, Subaru Forester or Toyota Corolla Cross?
The Crosstrek is basically a lifted Impreza, meaning the car’s body is higher off the ground but IDK if the interior height from the seat to the ceiling is meaningfully better.
If you want to get a subaru. Make a donation to ASPCA for $500. Then have them send a letter to your nearest Subaru dealer and you will get friends and family (VIP Pricing). This will typically give you around 2% off Invoice price or 8-9% off MSRP. When you factor in the cost of the donation the % is reduced slightly but it is really the only way to get a “deal” on a Subaru in this market. As others have said, this is a purchase car not a lease car. Your payments may be higher than a lease but you will retain a lot of equity in the vehicle even when this crazy market stabilizes. For proof look up what low mileage 2014 Crosstreks are going for these days.
Have you compared what CPOs go for compared to a new one? Used Honda value is sky high so do research to make sure there is a savings that makes sense if going used.
HRV sounds like an awkward choice for a tall person
As mentioned above, CPO Honda rarely make sense vs a well-bought new one.
BTW in NJ there’s really no geographic reason to get a raised hatchback which is what these subcompact “SUVs” really are. Like a HRV is a lifted Fit. Sedans and regular hatchbacks would work just as well.
Do you have any recommendations? The thing I would like to avoid is having my seat all the way back and not being able to have passengers sit behind me.
I’d start off with test driving the Kia Seltos and Corolla Cross …one of the reasons being those two brands have dealers with no markups in the northeast
