2015 FRS 48month lease $415/month 2.5k down
 

Good deal or not? includes rear spoiler and premium entertainment system, annual 20k km, 3.8APR
from a dealer I know

Are you putting any money down?

Hmmm... I don't know. I'm paying exactly $50 more per month with $500 down and financed for a 60 month purchase at a 1.65% APR from my credit union. This is for a 2015 BRZ Premium.

What do you think in comparison?

* Edit *

Well, you're in Canada, so that may throw things off a bit. Have you tried looking into how much a purchase would run you instead? 48 month lease seems longer than the usual 36 month which tends to be the better deal, no? You may want to compare a purchase and the 36 month lease option to get a better picture.

Also, feel free to share additional details, such as your down payment, etc...

OP is in Canada, so the comparison isn't as close to financing it. I put $5k down and am paying $500/mo at 0.9% with roughly $3k off of MSRP.


Most of the leasing numbers I've seen posted on here have been from the US though, so I'm not sure if you're getting hosed or not.


Edit: Posted before you edited.

Yes, thanks for the update. Was in the midst of editing my post as I was re-scanning the OP's details. :)

You didn't provide enough information to answer that question. There's more to financing than just the monthly payment. How much are you putting down? How much is the residual? What's the mileage allowance and penalty, and how much do you expect to drive it? What additional fees does it involve? What's the money factor and the equivalent interest rate?

$415 per month could be a good deal or a bad deal, depending on how much you're getting screwed on these other factors. They ought to teach auto loan financing in high school so people don't get caught up in this trap.

I would try and get them to lower the APR.
Also, are you a student or recent graduate? Make use of the graduate rebate program
When I did my negotiating I made up some numbers and said that was what subaru was offering for the BRZ and we went from there.

My 2 cents...it's a terrible lease. You can get pricier cars for that kind of money...maybe another $1K down, but... I wouldn't go for it. In 4 years, you paid off the car and you don't own it. You paid $22,420 plus fees. Look at BMW if you want to pay for that much in lease. 86 cars are horrible on leases...I suggest you get a loan and buy a used one if you want 86 cars it's the same amount as your least.

Lease is supposed to be the depreciation value of the car that you are "renting". You didn't pay off depreciation...you paid of the car to them and then the dealer get to turn around and sell it for another $10 to $15K

Not a good deal considering the online price on a 48 month lease, with premium sound and navigation, and a spoiler (20,000 km annual limit) - taxes in is $387.63 monthly. That's with $2,500 down as well. You could probably get close to your quoted amount with ZERO down.

I bought mine 0 down 323 a month

Mine is 0 down, 48 months at $398.04, also in Canada, also in Ontario.

Therefore, I'd say 48 months at $415 with $2500 down is NOT a good deal.

Mine's a 2014 if it matters.

Not a horrible deal with the couple of upgrades but not great either. Like said before try to get the APR reduced and it would be much better.

Just so you guys in the U.S. understand we pay way more for even a base model here.
With the options that the OP listed the car can easily retail for $31K!
http://www.toyota-town.com/new/Scion...ba45cd43e2.htm

But it is a horrible deal if it's higher than the "build it now" price on Scion.ca

Why would anyone pay MORE than that? If anything, that's the starting price and you only negotiate lower, and lower from there.

Unfortunately the dealers can charge what ever they want so the build price from Scion's site doesn't mean much.
OP doesn't say where they are at (which dealer) so the price may actually be very good for their area.

I'd buy used. Your about to spend 22k on not owning a car that you could find in perfect shape used for the same amount.

Yeah but you are not taking into account the interest rates on used cars is much higher. So now you take that $22,000 and turn it into a $27,000 car in no time flat. For a car like this I am fine with a lease as but to me it sounds like OP is getting ripped off anyway. My lease is way cheaper than that for a 3 year which is usually more expensive than a 4 year option.

i personally would never lease a car for 4 years. anything past 3 years, i'd rather buy the car.

As I put over 40,000 kilometers a year on mine leasing would be financial suicide!

So Picture of Timmy's yesterday and now Kilometers, where in Canada are you from Tcoat?

London Ontario but work in Woodstock and Windsor which is why so high milage.

@Tcoat my corporate lease allows 48,000 km a year, so you'd be fine if you had one of them. It's posts like these that remind me I actually did get a pretty sweet deal. $415 a month is way to high.

I am fine with owning and have zero plans of getting rid of the car so mileage is not and issue.
Yes corporate leases can have higher mileage but are not available to everybody.
Got a sweet deal on my purchase so I am way happy compared to some.

fuck no. leasing is a scam. i was about to lease and once i realized that the dealer had all the hidden fees of delivery, processing and $75 bucks for each ding on the car....yeah, not worth it.

Depends on the situation leasing is the way I personally like to go. A car is not an investment I will always have a car payment and I am fine with that. 3 years from now I will be driving another new car under full manufacturer warranty. While most who go with 5 and 6 year finance options will still be underwater on their vehicles at the 3 year mark I will be turning mine in for the new model FRS. I understand it is lost money but cars are lost money regardless. :p my FRS costs me under 350 per month for 3 years worked out well for me.

I wonder how some deals are possible. The guy in NS saying he got $3K off MSRP on a BRZ AND 0.5% interest??

How does the dealer manage to even break even on that deal??

I was able to purchase one for a lower monthly payment with only 2k down, so I would say not a great deal.

Ya for sure! I can see getting $3K off the dealer's asking price which can be whatever they want it too be but off MSRP does not seem reasonable.
God I would have loved 0.5!

Ya but was yours a base model for pushing $30K like ours cost up here?
Remember guys, the OP is Canadian and we pay a shitload more for everything.

No bueno OP. This is a terrible deal on the lease.

Looking at everything as optimistically as possible, can recall when before using online banking, I forgot to pay a couple visa bills (albeit it was a couple hundred bucks at most). Did a credit check a while ago and to my horror, they rated me only average because of the "2 missed bills". If OP honors the contract, very likely his credit score will bump up significantly. Maybe a bargaining chip when negotiating on the next car as well.. Financing at 3.9% but one reason for the decision was to raise the credit score.

I don't think it's a good deal. It does depend on a few things too and how picky one is on details.
My 2014 Sport tech MT was 29k out the door in April . I did pay cash though and no PST in Alberta.
I would say negotiate the best cash price and try to get the loan elsewhere. Credit unions are the best deals from what I know.

Well his location is Toronto so there are enough dealers around that nobody should be paying more than the online price. If they do...well that's just stupid IMO. Of course dealers can charge what they want, but there are many dealers to choose from and it's not like this car is a rare find.

So very true.
When I was checking the price of mine against others before I bought it I saw a new 14 base in Toronto for $27900 and another base at a different Toronto dealer for $31. I thought "good luck with that"!
Did help me realize I was getting a great deal though.

For your comparison, I pay $348/month, 36 month lease, 3K down, 12k miles/year, for a stock whiteout monogram that I got back in mid February. I was one of the first to get a monogram considering some that pre-ordered from Longo got theirs mid March. I'm located in socal.

OP is in Canada (EH)!
It just makes me sad to see how much less you guys had to pay!

That's why I posted where I'm from and that it's for comparison. In no way did I comment whether the deal is good or bad. It was purely for comparison purposes. For all I know, OP can do the conversion rate them self.

But that is sorrta where I was headed with my response. There is no way to compare.
Different finance rates (and methods), taxes, fees, car price, etc. make any form of comparison valueless.
The only possible people he could compare with are those in Ontario as even the other provinces vary quite a bit.
For example Alberta has no sales tax but ours is 13% so right off the hop the car costs around $3K more here.
I know the intentions are good but you could be sending the guy on a wild goose chase for a deal he can not get.

750 of it was grad rebate. Helped that it was Sport-tech Auto. Doubt there would have been that much room to move on a Premium. Also it was 0.9.


Biggest thing was time of year. I bought the car in New Glasgow (small town with a Michelin plant for those who don't know) in mid November when there were 3 BRZ's sitting on the lot (crazy for the area) which had all been sitting at least 6 months based on when I spotted them first. They really wanted to move them as the 14's were out and snow literally started the day I signed the papers.


But really it comes down to individual situations. If a dealer really needs to move a car, there's a good chance you'll get a deal. If they know it'll be gone in 3 weeks regardless, they've got no incentive to give you a price any lower than what they think the next guy who walks in the door will take.


I think that's enough thread derailing for me. I wish I knew more about leases to be able to provide some more meaningful input to the OP.

Great deal! Right time and place I guess.
I got a great deal on mine cuz the 15s were on the truck headed to the dealer.
Don't know if the thread can be derailed as the OP didn't give a load of info and has never been back yet anyway!