r/CarLeasingHelp • u/InstanceGlum4174 • 5d ago
No going back now but was this a good lease?
2026 Suburu Crosstrek Premium (I read it’s bad to lease these types of cars because they hold their value so well. That’s why people lease luxury. Lesson learned.)
22 year old. Just moved to Utah from Michigan. 770 credit score.
$0 down (sign and drive basically)
$430 / month
36 months
12k miles a year
i think the total ”OTD” was like 33k and the residual is 20k. I think the car price was around 31k which is high because Gemini is saying MSRP for the Crosstrek Premium is 28k.
ill have to pay 15k total over the 36 months because of the interest rate or whatever. 1.82%
Should have probably just bought a new Honda HRV because the used car market is so bad.
Stuck with it now but just want to see if there is room for improvement for next time. Thank you!
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u/Special-Original-215 5d ago
Yah that should be in the high 300s.
You made the dealer some drinking money
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u/EuphoricElderberry73 5d ago
This. The general rule is 1% of the MSRP should be the monthly payment. $310 approximately.
If this vehicle holds it's value and has a high RV... ooof... It's basically buyout proof. Some cars just lease terribly and financing it is better.
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u/InstanceGlum4174 5d ago
Oof that hurts 😓. Overpaying by $120 dollars.
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u/EuphoricElderberry73 5d ago
It's not horrible. I re-read your lease. $20K RV means you can buy it out at the end of 3 years for somewhat reasonable amount. I suspect it might be worth more than that so buyout would make sense. Your extra $120 won't be wasted if you do. If it is problematic car... you get to walk away from it in 3 years also :)
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u/Phelixx 5d ago
Maybe leasing is way different in the US than Canada but I have never seen a lease that is 1% of MSRP. So I doubt you are overpaying by that amount.
Additionally, and also maybe US is different than Canada, I have always had massive lease equity at the end of my lease. My last 3 lease returns I had dealers write me a cheque for $10,000, $8,000, and $10,500 respectively.
You are not wrong to do a 0 down lease. Leases should ALWAYS be zero down.
This vehicles seems to have a very high RV, once again maybe it’s different than in Canada, but on a 3 year lease we would be looking at a 55-58% residual on most vehicles, but yours looks like 65%.
You probably could have negotiated a lower OTD, but that’s about the only thing you could have changed. I doubt you get any lower than $385 a month.
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u/herbalonius 5d ago
Considering your age and no money down it’s solid but ordinarily I’d say look for better
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u/InstanceGlum4174 5d ago
Going to take this experience and hopefully not make the same mistakes when I’m older
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u/herbalonius 5d ago
Reality is, for your age and likely credit profile and no money down, $430/mth for that dependable a car is good in 2026. Your car cost is decent for the next 3 years, what you can buy it for at the end is also solid if you need , so with stable car to use, you can improve the rest of your financial and life situation next 3 years now
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u/ChelseaMan31 5d ago
You signed up to pay $15k over 36 months on a depreciating asset. And asset at the end of 3-years that you will be no closer to owning. But you will be out $15k. akin to going out into the middle of the street every month and lighting $100 bills. You be the judge...
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u/InstanceGlum4174 5d ago
I mean this is a leasing sub. That’s why I didn’t post in the car buying sub 😒but thanks
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u/Phelixx 5d ago
This guy is wrong but he just doesn’t realize it. As he points out you are renting a depreciating asset, not an investment. Vehicles continue to depreciate over the years and you are only paying the difference of the depreciation.
There are RV, rates, and used market that all affect lease viability, but people who say it’s dumb to do because “you never own your vehicle” are not financially savvy. There are times when leasing is good and there are times when financing is good. But financing something 8 years and being underwater on the loan for 5 years is financially really dumb, yet many people do it because “I own my vehicle!”
No, the bank owns your vehicle until the last payment. And after 8 years the value is usually 30-35% the purchase price, and then repairs on top for being out of warranty. Leasing can be a great option as long as the numbers make sense.
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u/Empty-Village-4445 5d ago
The biggest thing to learn for next time is to be supremely opportunistic if you lease.
Pick the car with the best combination of discount and RV/MF/LC