Lease, anyone?
 

I was trying to lease and the best one that I got was $389/mo tax-included (36 mos with 12k/yr miles) with $0 drive-off for MSRP+$550 option. I told the salesperson I'm tier 1 customer but didn't give my SSN. I offered $300/mo with $500 drive-off and the dealer didn't give in (I was giving my credit card for the $500 to tell the dealer I'm serious). I went home empty handed. I'm not desperate as this is going to be my toy car.
What are your lease details?

If you are getting this as a "toy car" why would you lease it instead of buying it?

+1

With scions there's no negotiation, so the lease deal is the lease deal based on your credit. FWIW I looked at the lease rates on the car when I bought mine as I'm a car salesman by trade, and the money factor on these cars sucks, making a purchase the better way to go

Why not? I just plan to autoX it ocassionally with no mods. And please only reply with lease details and not what I plan to do with the car.

I'm leasing mine, whiteout, about $1500 down, for $356/month. I'm tier 1 as well.

The money factor sucks but the residual was pretty good, iirc, for both 24 and 36 month leases.

I'm leasing because I'm assuming that an sti will be out ~2015 (subaru isn't leasing the brz atm and didn't want to buy a first model year car).

just a note...i bought mine and the payment is only 100 more than that...makes more sense to me...i can put as many miles as i want on it and do what i want to it....just my two cents

I only leased because it is a first year car on a brand new platform. Also, I knew there was going to be updated models to come with upgraded engines, interiors etc. I got a very good lease rate and I leased the second week the FRS hit the market. Had I not gotten gap insurance, I would have been at $288 a month.

$3500 Down With $299/per month. which bloddy sucks compare to you guys. and dont get me started on the insurance... bloddy hell

Are you like 16? I'm 20 about to be 21 next month and full coverage for me is $175 a month!

And i bought mine BECAUSE it's a first year car. I plan to keep it, i'll be giving mine to my fiancee and trading her Mazda3 in for one of the newer models when it happens.

Jesus Christ, I guess it pays to be in my mid 30's. Paying 90 a month for full coverage

Sent from my SCH-I535 using Tapatalk 2

The leases on these cars aren't great because they don't have to be. The car is hotter than fire right now! Are leases on sports cars ever that attractive, though? When I worked at Audi, the TT had an abysmal lease deal.

I leased mine as well. I did a 36 month, 12k per year lease. The residual when I got mine was $16,698 for a manual. It may have dropped a bit since 6/1, but I haven't checked to be sure. My payment is $315.61 with $1000 out of pocket. My dealership changed their pricing menus, website etc to meet Scion rules so I could get it for invoice.

They money factor kinda sucks at .00210 for Tier 1 and .00200 for Tier 1+ (720+ Experian).

Just because I leased it doesn't stop me from doing mods. I have a Perrin crank pulley, Visconti tune and SRT exhaust so far. If I decide to turn the lease in when it's over, I kept all the stock parts so I could return it to 100% stock. I plan on getting wheels, tires, spoiler, intake and a few other odds and ends as well. Hell, if I had the money, I'd be all over Accelerated's Turbo 300 kit too.

The reason I leased it was because I wanted to have the options a lease provides at the end of the term. If Toyota/Subaru introduce a newer version, STi or TRD etc, in a few years, I may pick one of those up. I have 33 months to decide what I want to do. I may buy it out too, but right now, I'm not sure what I'm going to do. Leasing gives me more flexibility without the larger financial commitment now. I completely understand that it will cost me more in the long run if I do buy it out. That's the cost of providing me the options at the end and to me, it's worth it. It may not be for others.

Ruskymx

Thats Just my lease Payment my insurance is $610 per month. so basically im paying close to $1000/month just to keep this car.. which i love.. beside the fact its NEW YORK after all..

DUDE WHO THE F%^& DID YOU RUN OVER?! 610 a month for insurance?! you pay as much for your insurance as i do for both my payment and my insurance put together!

Yeah, really...did you shop around a lot for insurance? I had a mild wreck back in 2008 so I was quoted up to $650/mo for insurance but I got it at $132 from a reputable company...unless you blew up a few cars or something.

I think he may have taken the "OH LOOK 10,000 POINTS!" game a bit too seriously a few too many times.

My insurance in Chicago is $64/month with Geico.

seriously guys. i had a 2003 M3 and i use to pay 210 liability(statefarm). never got in to an accident nor any other ticket other than a few parking tickets plus i did defensive driving ... trust me... i shopped around for months and i was like @#$% this i want this car. Geico, All state, Progressive all quoted me between 850-1200- with no montly payment just yearly @ 4600- $6400.

I have statefarm and have a speeding ticket from 3 years ago, a BAD accident (broke an axle and hit a house and was falsely charged with drag racing , wreckless driving, and property damage) and still only pay $175 a month for full coverage so your doing something wrong man sorry. if i did anualy it would be something like $1100

So there has to be an underlying issue. Like the amount of miles you said you'd put on the car. Or credit. Or whatever. Could be anything.

I've just turned 20 with 1 wreck (and 2 tickets that aren't on my record) and great credit for my age. I imagine you're older than me and have a clean history with your M3, so there's no reason to be paying that much unless your rates are astronomically higher in your region for who knows what reason.

Unless you just chose to have no deductible, cover aftermarket parts, or just went add-on crazy...

I am also about to turn 21. and my speeding ticket has been removed from my record but the accident was too bad for the insurance record to remove it even though my lawyer expunged it.

i actually just turn 20. and yes i planned on tuning my car so i had my insurance cover my after market products for $45 more. i think the biggest issue is just because im a young driver and that seems post a threat in a sports car with full coverage(that's what i was told) but if i choose to drive an Acura ILX my rate would drop by $200. my credit if absolutely perfect

Thanks for jacking this thread!!!

Jeez calm down.

Damn $640 a month for freaking insurance? WOW! That is rape!!!

OP that sound right. 389 is exactly what I leased mine for with 650 down. Than 10 dollars a month for gap insurance put me at an even 400 for 36 month, then they buyout is 16grand.

Damn i dont feel so bad now... but compare to these other guys and their insurance they're pay dirt cheap. no i understand why so much NYer have other state registration

my bad dude. you had a good point. :threadjacked:

For comparison, here's my lease deal.

This is for 6MT, Whiteout, factory front paint protection film, rear bumper applique, trunk mat, and wheel locks:
$0 down
12,000 miles per year
36 months at $373/month which includes 7% monthly sales tax

Yours and the first 2 guys all come out to be just over $14000 for the 3 years. You are all within $200 of each other, unless I'm missing something.

edit: fastlap apparently is paying $1000 less than the 3 previous respondents.
edit 2: I see you came to the same conclusion...

lease
 

I'm going lease mine due to business reasons. I was told that the lease rate is the same for everyone .... unless you have bad credit.

lease factor .0018 which works out to 4.32%.

I agree that there are better interest rates if you buy ... but the problem is that this is a newly released car with lots of initial interest. The financials may not be favorable.

What is the residual?

.00180 isn't too good of a money factor, but I think it may have been higher ( .00190 or .00200 ) when I was looking at the numbers in July.

Since you have a business the lease will be the way to go since you can write it off.

$16,698

i have a deposit on my frs, and im planning on leasing it. i see alot of you put little or no money down. one of the options they gave me was like $6000 down, monthly payments of $180. residual was around $16,600 or something. i got a $1000 military discount to bring the car to $23,995. and the only reason i consider doing a lease is because of the dirt cheap monthly payments. i figure i could sell the car for more private party than trading it in. or finance the $16,000 at the end of 3 years if i wanted too.

So when you say that .00180 is not a "good" money factor, what exactly do you mean by that? That equals out to be 4.32% APR. So you are saying that 4.32% is not "good"? Im a finance manager for Toyota, and have been for the past 9 years. I would have to disagree with you on your opinion. sorry, I still think that a rate that is in the 4's is still pretty darn "good"!

Dont get me wrong. im still not a fan of leasing!!! For many other reasons.

do the math you just put out there, $180mo x 36 mo = $,480
$6000 dp now up to $12,480
now the residual, if you finance this $16,600 you will have interest too, but for now you are up to $29080, another key factor is, if you keep it and finance the $16,600 you have to pay tax on the residual. so depending on your state tax. so say you finance $17500 with tax @ 3.9% 60mo payment of 321 mo and a finance charge of $1,790 all = up to grand tot of $31770+ dep on your tax rate, i just guessed and looking at 8 year loan if ya look at it.

for all you to know who have deposits down right now,TFS finance rates with 720 credit rates are as follows:
up to 60 mo is 3% flat / 66mo 3.3% / 72 3.7% / 75mo 3.95% and up to 84 is 5.2% if anyone has any questions PM me. ill be happy to help you out.