Once you establish what is a good price for a specific vehicle, which requires understanding the lease variables to effectively establish, you then would need to compare it to both the costs of purchasing and other vehicles in the market to determine if the lease is a good value.
None of that process should ever involve talking to a dealer.
You have to make sure your search results are sorted by latest, not necessarily the default.
For example searching for Genesis G70 yields this as the third or fourth result
Hello All,
I am looking at a leasing a 2024 Subaru Legacy XT Touring and interested in some feedback.
I know its probably one of the most vanilla looking sedans on the road but here are some things I like about it: Visibility, vented seats, comfortable brown leather seats, wireless apple car play, AWD, safety tech, we’ve had two Subaru Forester leases (2014 & 2020) that served us well.
What I don’t like is really just the exterior design and the infotainment compared to the 330xi (exterior and interior styling) and the G70 (exterior and interior styling, blind spot camera in dash) which I understand are probably not cross-shopped often.
Location: Illinois (not Chicago proper)
Car: 2024 Subaru Legacy XT Touring
MSRP: $39,260.00
Term: 36 months
Mileage: 10,000 / yr (really wish I could do 5k or 7.5k as I am a low mileage driver
RV: 63% (Edmunds July #s)
MF: 0.00157 (Edmunds July #s)
Tax Rate: 7%
Doc Fee: $346
Title & Reg: $301
The Subaru Legacy XT Touring sedan is not a vehicle with a lot of volume and I could only find 34 2023-2024 models within 500 miles. The 2024 is showing a market day supply of 28 days.
Does anyone have any guidance on what I could get off MSRP? I don’t think I am interested in the vehicle at 0% off MSRP because with my calculations that is an effective monthly cost of $587.
I have an existing Subaru lease right now that I am keeping - do I qualify for loyalty, if so, what is that and is that a “taxed incentive”? My last lease in 2020 was ~14% off MSRP IIRC and I know I am not going to see that in this market but wondering what’s a good target?
First place to check is the Marketplace across all regions.
Very very few vehicles (maybe sub 3%) have the quadfecta of discount, rebates, MF and RV required to create a hackable lease.
If you don’t see a make/model in the Marketplace particularly in higher concentration areas such as CA and NY/NJ then the safest assumption is that it’s not worth the time.
Thanks - that’s what I was gathering but the vehicle isn’t a “popular” one so limited details I could find. I couldn’t find any 2024 or 2023 in Marketplace or the forums. I do recall seeing some discounts on Rubbergash’s sheet before that got shut down with the sale of their dealership. From my research $500-1000 seems to be the most off MSRP because the inventory isn’t there.
There are brokers offering Subarus
https://forum.leasehackr.com/tags/c/marketplace/7/subaru
Most “discounts” are 0 to invoice, which you can get with VIP pricing.
On a ‘24, I’d target invoice pricing on an in-stock unit and see if they will bite. If not, obtain VIP eligibility by making a donation and work with a dealer who offers VIP pricing to either order one, tag an inbound, or possibly an in-stock unit.
Wow, a Legacy pushing 40k?!?
Won’t be a good lease so I’m not sure if it’s worth the effort.
Most Subarus aren’t. Unless there was a big tax advantage to lease vs buy I would purchase (like I did, even though the taxes backfired on me later).
Does anyone know about IL tax benefits (leasing vs buying)?
The MF is 0.00157 (3.77%) and the advertised finance rate is 4.9% APR.
I’m 99% confident that I will not be in this car in 36 months and wanted the lower monthly payment but if there is a great case to finance over lease I’m all ears (just never done that before).
Chase/Subaru currently allows 3rd party buyouts so that certainly gives you flexibility, as those of us who leased WRXes recently can attest.
Companies are advertising 0 and 0.9% APR financing again, so I’m not sure why you’d spend $4,300 on combined rent charge plus acq fee (plus disposition, if applicable)
Especially on a car you’re so unenthusiastic about
Hello,
I have narrowed my search to three vehicles:
This question is about a ‘23 Volvo XC60 B6 AWD Ultimate Loaner/Demo
Region: Midwest
MY: 2023
Make/Model: Volvo XC60
Trim: B6 AWD Ultimate Dark
Term: 36 Months / 7.5k Miles Per Year
Status: Loaner/Demo
MSRP: $63,735.00
RV: 57% (ratefinder)
MF: .0.00133 (ratefinder) 3.19% APR
Adjusted MF with 10 MSDs: .0.00083 (LH calc) 1.99% APR
Advertised Selling Price: $56,776.00
% from MSRP to Advertised Selling Price: 10.92%
Taxable Incentives: Costco ($1,000), VCFS Lease Cash ($1,000) = $2,000
Doc Fee: $324.24 + Electronic Filing Fee: $35 = $359.24
IL Title & Reg: $306.00
Pre-Tax Monthly: $605
Monthly Payment: $648
DAS: $2,543
Refundable MSDs: 10: $6,500
Total Lease Cost: $25,658
Effective Monthly Cost: $713
In the marketplace I found a broker advertising a new (not demo/loaner) ‘23 XC60 B6 Ultimate for $673 pre tax on a $61k MSRP vehicle for 36/10. When I adjust to 7.5k/36, my tax rate, my region’s MF, RV and fees and a -$599 broker fee in the trade-in section (not sure if this is logical but I’m subtracting some savings) I get a pre-tax of $676 and an effective monthly at $711. A broker in my region has a $63k MSRP XC60 B6 Ultimate for $689 pre-tax monthly at 36/10.
Given this anecdotal information. Does anyone have guidance on how much additional discount I should target for the loaner/demo that I am looking at?
Thank you,
Clearly not. 10% off would be $6k off so 54,xxx
I think I got that MSRP confused with a diff vehicle I am looking at and transposed it incorrectly from my notes Adjusted to match calc link $63,735.00
You may as well get a new one. @autocompanion is doing 10% off new XC60s. You’d have to ship it, but his region has $500 more in lease cash too.
Based on my research I feel that I can get 10% on a MY24 B5 Ultimate and there are many available near me. However, my thought was that there are still plenty of new MY23 and loaner/demo MY23s around. My specific question was how much should I target for those. My hope was those could be discounted much more than the MY24 new.
Am I mistaken that a dealer would be more likely to heavily discount a MY23 loaner/demo than a MY24 new in stock or in-transit vehicle? Using another broker’s sheet I see a '23 B5 Ultimate demo discounted at 15.28% - that would make me think that 15% is a reasonable ask but I don’t know the differences of how a broker may be able to get that price vs myself.
For reference, I did check out autocompanion’s site (great site BTW) and I all I saw were MY23s and I got almost the exact same calculation as I do in my LH calc I posted above. Autocompanion has effective monthly at $722 and LH calc at $713.
Thanks,
That’s pretty much the same thing that you have but it’s for a brand-new car vs. a loaner. Brokers get the pricing we have based on volume. You can’t assume you can get it just by going to a dealership. The 2024 XC60s are just hitting the lots. I don’t see brokers doing 10% on those, so I wouldn’t bank on that.
Thank you for the help.I will definitely keep that in mind if the loaner/demo option doesn’t prove to be worthwhile. My hope was they’d be very motivated to get rid of those right now and I could secure a discount that would make not getting new worth it. At 10% off the loaner it’s probably not worth it compared to new. The question is what’s the best I should target on the demo/loaner.
Aren’t XC90s cheaper than 60s now?