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This is a discussion on Can't wait until spring within the New Member Hangout forums, part of the Community - Meet other Enthusiasts category; My 09 WRX car payment is 4.06/month which is ,008 over 60 months at 4.9% through Subaru financing. Of the ...

  1. #16
    Registered User Lengthwise32's Avatar
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    My 09 WRX car payment is $484.06/month which is $27,008 over 60 months at 4.9% through Subaru financing.

    Of the $484/month roughly $380 is going to principal and $100 is being wasted on finance according to my statement history.

    In the example below he is renting the car for $435/month which is all wasted. He's not building equity, no nothing. My ownership plan above I'm only wasting $100/month.


    Quote Originally Posted by WRXnewbii View Post
    We're leasing because it's ~$250/month less than buying. Based on the Subaru Canada's website, with $2000 down, it would cost $681/month to purchase.

    On our monthly income, we could easily afford this but my wife never owned/purchased a car before, so she doesn't really understand that $680/month is not that much for a good quality new car.

    The lease monthly payment would be ~$435, which is close to what we're paying now, so she's happy. Not sure if we'll keep the car at the end... depends on how many kids we have by then.
    2009 WRX - South Denver, CO

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  3. #17
    Registered User Lengthwise32's Avatar
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    Sorry for being tough and it sounds like you at least know the facts before you step in.

    Of the performance cars, the WRX has probably the best back seat for family/kids/passengers! This is one great reason I bought the WRX.

    Quote Originally Posted by WRXnewbii View Post
    Thanks for all the advice guys. Yeah, I'm sure dealers love leasing and it's not ideal for the consumer. I guess I have the blinders on because I really want the WRX.

    Originally, I wanted buy Caliber SRT-4 but Dodge's shady finances and the cancellation of the SRT-4 made me look elsewhere. The massive torque steer also scares me a little. The only problem, is that there are no equivalent cars out there for 25K that offered performance and practicality, so I said "to hell with performance cars" and decided on eventually purchasing a 2010 Impreza 2.5i hatch.

    But,after visiting the Subaru site and playing with the numbers, I realized that the lease price on a new WRX is roughly the same as buying a base 2.5i. My wife knows nothing about cars and only looks at the bottom line, so she'll be happy with the monthly payment on the WRX and I'll be happy driving it.... Happy wife, happy life !

    In the end, we'll go with the lease even though it makes no sense. I can't help it, I'm a performance car junkie. I'm very lucky to have an understanding wife since she also says leasing is not the best thing.
    2009 WRX - South Denver, CO

  4. #18
    Registered User economatic's Avatar
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    Quote Originally Posted by Lengthwise32 View Post

    I started listening to daveramsey.com and I will never use credit ever again with the only exception being a house. I'm going to have my 09 WRX paid off after only 16 months and from now on I'm going to save up and pay cash for anything and everything including future cars.
    I'm not sure what daveramsey.com is but to never use credit is bad advice. You should use credit wisely. That is, if you can pay cash for a car or get a low interest loan (e.g. 0.9%) then you should take the loan.

  5. #19
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    Since I rarely keep my cars for more than 3-4 years, leasing works for me. Perhaps that will change with the WRX...

  6. #20
    Registered User CJ05's Avatar
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    I never understood why someone would want to modify a leased vehicle.
    Bugeye Mafia #231 - 2002 WRB - sold Dec 31, 2009
    -Stink-Eye Mob- #173 - 2008 SWP - Returned to TD04 Stage 2 in Jan 2012
    Frmr Blobeye Syndicate #173 - 2005 CGM -sold Sept 15, 2008. I miss my STi
    Proud owner of 99 RS coupe with EJ205 engine and tranny swap.

  7. #21
    Sammich Makin' Pwincess wrxtreme06's Avatar
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    Quote Originally Posted by CJ05 View Post
    I never understood why someone would want to modify a leased vehicle.
    for the same reasons someone would want to mod a vehicle they're buying.

    for me personally, i didnt know whether or not i was keeping my car so i did the mods i wanted to do and kept my OEM parts. i can switch back to stock whenever i want with little hassle

    if i decide to trade my car back in i can sell my aftermarket parts & make 95-100% of my money back

    desiree
    your friendly, neighborhood subaru girl
    abbigale : 06 impreza wrx tr: cobb stage II
    hawkeye alliance #11:11//
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  8. #22
    Registered User elwray's Avatar
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    Quote Originally Posted by Lengthwise32 View Post
    Yea, sorry i was so strong in my words. I don't own a new car every 2-3 years because you're paying for the huge deprecation which is greatest the first few years.

    My Toyota Tacoma 4x4 I owned for 9 years, 5 of those were w/o car payments so I really got my money's worth. Plus it's just better to own the car if you're going to mod it.

    I started listening to daveramsey.com and I will never use credit ever again with the only exception being a house. I'm going to have my 09 WRX paid off after only 16 months and from now on I'm going to save up and pay cash for anything and everything including future cars.
    What kind of future car are you looking to get?? I really want the flying kind! But I can't find them anywhere around here...

    Oh, wait that's not what you meant... just kidding!!
    2009 WRX Hatch PP Dark Gray Metallic
    Torqued Performance Stage 1
    Cobb CBE
    Kenwood DNX5120

  9. #23
    Registered User CJ05's Avatar
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    Quote Originally Posted by wrxtreme06 View Post
    for the same reasons someone would want to mod a vehicle they're buying.

    for me personally, i didnt know whether or not i was keeping my car so i did the mods i wanted to do and kept my OEM parts. i can switch back to stock whenever i want with little hassle

    if i decide to trade my car back in i can sell my aftermarket parts & make 95-100% of my money back
    Good point. Aren't there certain guidelines with leases though? Bringing the vehicle into the dealership for "check-ups" if you will?
    Bugeye Mafia #231 - 2002 WRB - sold Dec 31, 2009
    -Stink-Eye Mob- #173 - 2008 SWP - Returned to TD04 Stage 2 in Jan 2012
    Frmr Blobeye Syndicate #173 - 2005 CGM -sold Sept 15, 2008. I miss my STi
    Proud owner of 99 RS coupe with EJ205 engine and tranny swap.

  10. #24
    Registered User mudferret's Avatar
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    Quote Originally Posted by Lengthwise32 View Post
    He's not building equity, no nothing. My ownership plan above I'm only wasting $100/month.
    I understand where you're coming from, but cars are still a depreciable asset. It's nice to recoup some of the loss when/if you do sell though.
    ...Rob.
    MMVI WRX - VF43 Airboy Tuned @ 3500'

  11. #25
    Sammich Makin' Pwincess wrxtreme06's Avatar
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    Quote Originally Posted by CJ05 View Post
    Good point. Aren't there certain guidelines with leases though? Bringing the vehicle into the dealership for "check-ups" if you will?
    nope. i've done all my oil changes + 30k service in my garage. no need to go to the stealership

    desiree
    your friendly, neighborhood subaru girl
    abbigale : 06 impreza wrx tr: cobb stage II
    hawkeye alliance #11:11//
    wingl3ss @ll!ance #17 // lvl 80 N.E.R.D.

  12. #26
    Registered User mudferret's Avatar
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    Quote Originally Posted by CJ05 View Post
    Good point. Aren't there certain guidelines with leases though? Bringing the vehicle into the dealership for "check-ups" if you will?
    For warranty purposes you've just got to be able to demonstrate that appropriate maintenance was performed; parts/supplies receipts typically suffice.
    ...Rob.
    MMVI WRX - VF43 Airboy Tuned @ 3500'

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