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Consider the Subaru Crosstrek. Current lease deal is $219/month with $1999 down for 36 months. Used values for a 3 year old model with 20-40k are largely within $1000 of new prices. I am in the Pacific Northwest where Subarus are very popular so that may be a regional anomaly.
So the lease costs $10k when the car only depreciated $1k. Your lease buyout is surely much much less than market value. So you could cash that out by taking to carmax or buying out and selling privately. But you’ll still have paid much more than the $1k depreciation.
So if residual was priced accurately shouldn’t the lease deal be something more like $40/month with $0 down?
Consider the Subaru Crosstrek. Current lease deal is $219/month with $1999 down for 36 months. Used values for a 3 year old model with 20-40k are largely within $1000 of new prices. I am in the Pacific Northwest where Subarus are very popular so that may be a regional anomaly.
So the lease costs $10k when the car only depreciated $1k. Your lease buyout is surely much much less than market value. So you could cash that out by taking to carmax or buying out and selling privately. But you’ll still have paid much more than the $1k depreciation.
So if residual was priced accurately shouldn’t the lease deal be something more like $40/month with $0 down?
Yeah it's abnormal. I have a buddy who buys Ford 7.3 diesel trucks down here and sells them up there for about 1/3 more than his total cost.
Why would anybody buy a used car for only $1000k less than a new one?
Why wouldn't they?
I mean, other than the fact that I can't afford cars that expensive but if I could find a used 918 Spyder for a couple bucks I'd sure as hell buy it. Who wouldn't?
I mean, other than the fact that I can't afford cars that expensive but if I could find a used 918 Spyder for a couple bucks I'd sure as hell buy it. Who wouldn't?
Let's get back on this planet. A Subaru Crosstrek is nothing special it's a plebeian staple car for soft men that wanted to put a 4Runner in the driveway, but the basic Whole Foods/Trader Joe's shopping wife wasn't having it.
There's no reason to buy a used one with so little savings. The manufacture incentives are not going to apply, the warranty is partially burned up, and they can't be financed as cheap.
I mean, other than the fact that I can't afford cars that expensive but if I could find a used 918 Spyder for a couple bucks I'd sure as hell buy it. Who wouldn't?
Because 30k in wear and tear even on a meticulously maintained vehicle isn't worth saving only a thousand dollars.That is simply ridiculous...wait a couple months if need be to save more and just buy new.
The only way I could see this being possible is if the vehicles typically sell way over MSRP up there to begin with in which case a person is ar least saving several thousand by buying used
Yep and on the flip side buying one has to be one of the cheapest ways to get a car. And you’re in a brand new car not some $500 jalopy that can break down at any time.
And yeah there typically are dealer markups but easily avoided by using something like Costco buying service or joining one of the Subaru partner orgs that guarantees you a 2% below invoice price.
Yep and on the flip side buying one has to be one of the cheapest ways to get a car. And you’re in a brand new car not some $500 jalopy that can break down at any time.
And yeah there typically are dealer markups but easily avoided by using something like Costco buying service or joining one of the Subaru partner orgs that guarantees you a 2% below invoice price.
We leased a 2014 Highlander for two with the $25K residual. In 2016, they were going for $30K+ on dealer lots but we could never make money buying it ourselves and selling it. For starters, add the 6% sales tax. That's $1500 right off the top. Add the low price people expect from private party sales and not much is left.
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