Folks, Im sorry, but I could use a little help. I have tried several times to add these numbers I got from a Subaru dealership into the Lease Hackr calculator but just cant figure out the right combination of settings to get the numbers to spit out the same data that the dealer printed for me in the dealership. Im sure Im doing something wrong because they even line up fine with a homemade Excel spreadsheet I created that calculates all the payments, total lease, and taxes properly, but for some reason I cant make it work with this Calculator. So I would appreciate anyone who wants to take a stab at this to help me outā¦
Subaru Forester Sport 2020
NJ Tax Rate 6.625
MSRP $32,989
Selling Price $30,296
Government Fees $7.50
Proc/Doc Fee $395
Capitalized taxes $911.11
Acquisition Fee $595
Gross Cap Cost $32,204.60
Cap Cost Reduction $0.17
Adjusted Cap Cost $32,204.43
Paid by Customer $409
Total Due at Signing $409
Residual Value $20,123.29
DMV Fee Due at signing $300
MF 0.0014
Residual % 61
Total Payments $14,615
First off, I dont think this is a good lease deal, but secondly and most importantly, I cant get all the numbers from this printout to properly calculate a LeaseHackr score because they arent adding up. I think its my fault because the first half of the calculator, everything is calculating properly, but its when I get to the fees and Cap Cost reductions section, Im not sure I am entering the right info to calculate the proper monthly lease payments and Due at signing calculations.
So if someone who has a bit better knowledge of the calculator assist me here, I would greatly appreciate it.
I just want to say, with this, youāre paying 14.6k to rent a car for 3 years, when you could purchase for 30k (probably less) @ 0% or a subvented apr loan.
The MF of 0.0014 is ugly at itself, paired with 7-8% eyeball discount?
Whatās youāre das, 409 first and 300 dmv? Can you just post a lease sheet? That would make it easier.
I agreeā¦but I dont know my options to get this price lower other then going to other dealers and shop it around, but Im guessing this may only take a few dollars off the monthly payment when all is said and done??
How else can I get more off a Subaru Forester or Outback at this time?
also any help u can provide for me to get this quote into the LeaseHackr calculator properly, I would appreciate. Im sure I am doing something simple wrong with one or 2 of the settings
Iāve mentioned this, Subaru is one of the brands I donāt do. I donāt have much confidence if any in my knowledge of their programs and what is a deal. I can only say, this is a car I would consider financing vs leasing.
This is what I have, and without further information, this is what I can do. 410/month (again, closest) with 709 das (409+300 dmv).
thank you, I didnt realize you could simply adjust the numbers to make everything line up by putting in a negative down payment (-$1357) In the terms of this potential lease, what does/or could this negative down payment number represent?
Iām moving numbers around. Mostly rolling everything into cap cost so only first is due at signing plus your 300 dmv, which unless I made a stupid mistake is being double charged.
Get a lease sheet from the dealer. I highly recommend a different car though, one can only shop a car so far, if youāre shopping the best deal / value thatās a different story.
Also, I realized by checking the Edmunds July Res and MF for this car, the dealer has an inflated MF in my quote. The actual MF for the Forester should be .0011(2.64) instead of the .0014 (3.36) they gave me.
So Im not sure if I should leave this dealer all together, or go back to them to give them another chance at correcting this. It sounds either a little shady or greedy to me. Id appreciate next steps advice to try and get a better lease deal on this vehicle. Maybe its just not possible because these Subaru Foresters are so in demand?
Every lease deal comes down to a few factors, abbreviated version absconding taxes, demos, etc so regulars bear with me cough ursus donāt roast mecough, largest discount, base MF, find the most incentives to move a car (aged unit, lease cash, (if there are any hahaha), etc). Thatās how you shop the best lease deal on a specific model.
Leasing isnāt always for everyone, look into your financing options, Subaru has a 0% apr for 63 months, and Iām sure you can find good financing at a local credit union to take advantage of finance rebates non compatible to the 0% apr subvented rate. You seem pretty set on a forester.
Thanks for the heads up on the 0% APR for purchasing. I may actually consider this instead of leasing so my next question is, what differences do I need to take into consideration when buying vs leasing. My understanding its less confusing but I never actually purchased so Im not sure what differences need to reviewed during the transaction
My guess is obviously lowest selling price, other there any different fees or potential traps that could take my 0% final sale price back up and lessen whatever deal I work out?
For example, I just went to Subaru official website to baseline a price and look at financing options and one of the fees on there was a destination & delivery charge of $1000. I dont every recall that line item on a lease. thank you again for this assistance
This is included in the MSRP of the vehicle, on a lease or purchase. If a dealer tries to charge you for this separately, find a new dealer (and stop shopping in MD, where they love to do this).
Apologies for the additional finance questions on a Leasing forum, but they are helpfulā¦
If i decide to finance the vehicle rather than lease, Is it as simple as just negotiating the same Leasing selling price I had at 8-9% off MSRP then having the dealer apply the 0% APR thru Subaru (assuming I have excellent credit score) and thats it?..no other charges/fees to worry about negotiating? Seems much easier then a lease if thats the case.
Is there less of an incentive for the saleperson to work a purchase at that 0% rate with the same Lease discount selling price he gave me? Im just trying to prepare myself for what to expect
You need to find out if there are differences in incentives. Lease and purchase incentives tend to be different and often times not all incentives apply when using 0% financing.
Thanks, would it be realistic to expect the same MSRP discount of 8-10% off on a buy the same as it was on the lease deal? Im just thinking that with 0% APR where would the dealership be making the money as opposed to all the ways they can on the lease??
Yes I did, I was wondering why I couldnt see a bunch of messages in my inbox anymore. I didnt even realize I did because I had to resign in from a different computer and I was wondering why I had to sign up againā¦I guess this explains it. However I think the mods took care of it. This is my only account nowā¦I think
If you search around in the marketplace there are definitely dealers and brokers who can get you a much better deal on a Subaru. But I donāt know if any of them ship their deals.
Iām finding in less populous cities or even entire states, even if youāre paying an additional $1k for shipping, local dealers still canāt compete with pricing here.
