performance cars typically don’t lease well because people will buy them anyway so why incentivize them, and lol to the idiot who said comparing a wrx to an sti is apple’s to apple’s, next you will tell us a scat pack is apple’s to apples with a hellcat?
I know it’s different years, and they might have had different deals back then, but this was my experience.
2017 sti base with navigation, Harman kardon speakers, and some other goodies.
$41k otd
$498 monthly payment taxes included.
I gave $1300 dp plus a $500 ambassador coupon
36 month / 10k miles per year
Are you leasing for pleasure or business ?
Well actually, if you talk to my accountant, leasing is fundamentally a bad idea, even for a business. Sure there’s the tax write offs and all this other goodness that the car salesman will tell you about that makes the deal look good, but at the end of the day, you’re putting money into something that ultimately you could be giving back.
Just view this like renting property, it’s dead money going out your hands.
Looks like a balloon please where at the end of the term, you can pay the residual value and keep the car keys, but irrespective of the value of the car, for better or worse, that’s what you’re pay.
If you need to borrow money, go to the bank, and use that to buy the car.
Not trying to be a kill joy, but do you really need or can you really afford such an expensive car ? Not my business, but this was my accountant’s advice when buying a new car earlier this year.
Honestly you should be looking close to invoice or under as a selling price.
I don’t understand what the last one in New England means. As much as people want to treat these like they’re special, Subaru makes thousands of them per year. I have 50 of them brand new within 50 miles of me, with a bunch of them being limiteds. If they can’t get it, in the color you want, just order the car. I ordered from a NJ subaru dealer the year after the body style came out.
Sounds like your accountant doesn’t really understand leases.
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Assuming you have a personal accountant. Our accountant manages companies who have revenues of 8 figures a year and says leasing is the way to go, you can only write off so much % of depreciation and you have to track miles aka logbooks for everyone who drives a company vehicle (in case of audit) but on a lease you write off the whole payment, no logbooks, and you inherently save money on maintenance as in the first 2-3 only basic oil changes/tire rotations are done and extended factory warranties if you exceed the alloted miles on a normal warranty are available. For a normal person leasing isn’t typically the best solution because people don’t know how to work a lease deal like a finance deal.
You are on a leasing forum people here obviously prefer leasing to buying.
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Hi, @Lindsay_Druett, welcome. I find it interesting that you just created an account to tell OP that leasing is a fundamentally bad idea. Maybe do some research on leasing in general before you start giving advice. Poke around the forum and I’m sure you’ll learn a lot.
Cars are depreciating assets whether you finance or lease.
It’s rarely advisable to keep the car keys at the end of the lease.
As for STIs, the numbers won’t ever make this car “hackr worthy”.
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Why would you create an account in a website focused towards leasing cars to come on here and talking about how your accountant thinks leasing is a bad idea?
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Thanks Suze Orman. Why did you join a leasing forum to spout anecdotes like this? We’ve shown time and time again on here that leasing can be substantially less expensive than buying new or used.
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Imputed value is another out dated concept from economics disproven during the financial crisis. “Real estate only goes up in value!”, said Florida’s SF home vacancy rate as it exceeded 20% in 2009. If you can rent the same house for 2000$ a month but your mortgage to own it is 3000$ a month, you better be in a market where the home values are rising by double digit percentages every year, otherwise you aren’t accruing enough value beyond the marginal utility to offset the difference. I have been renting for a couple years now, sold my two houses in two other states, and the current spread between renting my place and owning it is $1100/mo. The break-even (assuming no closing costs or taxes, or real estate fees when buying or selling) over 2 years would require a 20% increase in the price of this house for utility to equal imputed value. Even in our insane SoCal housing market it’s closer to 8%.
Not to say people shouldn’t buy houses, but the notion that renting is throwing money away is a totally disproven antique.
Adjacent to all this, big news today https://www.cnbc.com/2019/09/09/fall-housing-shifts-quickly-to-a-buyers-market.html
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People first. Then money. Then things. Then terrible haircuts. Now you know.
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It’s logical, but in the US where we have separation between the manufacturer (who sells every unit to dealer at roughly invoice), dealerships that wants to sell every unit for the most money, and the captive lender who is investing money in selling/leasing cars to get a rate of return on their investment: you’re putting a dealership’s motives onto the captive, which isn’t completely accurate. It’s less about “people will pay more” than both
- “the manufacturer doesn’t need to put up incentives or buy down the rate/buy up the MF” to move that metal, and
- the volume numbers are so much smaller comparatively on the models teenager-from-means tend to wrap around trees, the loss ratio is much more influential.
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This has been one of the more entertaining threads for me to read in some time. STI’s really bring the crazies out of the woodwork huh?
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it’s also more of a niche community, higher gas costs and insurance costs as well. What I meant was at the end of the day somebody will buy the car, for example if any regular car like a honda or toyota sit on a lot for 300+ days it’s a stinker, but you have corvettes,amg’s, hellcats, M cars, etc. etc. that routinely sit for 100+ days, not too many people out there that want to drop 70-100k on a 500 hp+ car or $800+ a month. Limiting volume also plays a huge role, when a car outprices its market (m3/m4 cs) you see deals, some even cheaper than regular m3/m4 deals.
The sti and evo communities are very niche as well, typically very brand loyal add the fact that supply is low and you have a captive who has no reason to incentivize such vehicle.
Great points though.
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OP just lease the STi… YOLO
Chicks are going to be digging you with that oversized spoiler and narly hood scoop.
At $800 bucks a month it’s a steal !
Make sure to tell the dealer to secure one for you in Fuckboy World Ralleye Blue. Nothing beats rolling down the street with your cap on backwards smelling like Axe deodorant with the sound of an STi exhaust…
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Jajajaa when i initially posted i didn’t know the hype that was coming
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You never know when thing will go viral😀
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That’s an old aviation saying… “If it flies, floats, or …”. That’s why I won’t buy an aeroplane, rather go to the aeroclub and hire an available aeroplane when I want to go flying. Way cheaper.
My accountant is for my own business, which is in the mid 6 figure range, ie. only me as the employee, only one vehicle needed, so it’s about saving interest costs, and having the freedom to do whatever mileage I need to do. In NZ, there is a cap on mileage on lease vehicles and Fringe Benefit Tax still applies. You still get the manufacturers warranty and I also have a service contract on the vehicle for 3 years or 50,000KM (whichever occurs first). His advice is based on where I am at.
But, yeah, I can see the clear advantages with an 8 figure revenue, lots of employees, hence lots of vehicles. You also have that cashflow freed up (which is better put into appreciating assets), and hey, why employ a fleet manager to look after the vehicle fleet when you have a dealership with people who will happily do that job for you ?
At the end of the day, it’s a numbers game.
Fascinating discussion, I enjoyed your feedback here. I agree with your comments.
Nah, pretty simple: puppies, kittens, STi…
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different countries different tax laws.
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