2015 Evo X GSR Lease. How much are you paying ?
May 17, 2016, 11:38 AM
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2015 Evo X GSR Lease. How much are you paying ?
Hey guys,
So I was on the Mitsubishi website and they were showing that the estimated lease monthly payment amount for a 2015 GSR was $328.70. It doesn't give any information about how much down, ect. Getting a call tomorrow from the Mitsubishi dealer tomorrow about the leasing pricing and in the meantime I'm just wondering what you guys paid for your lease. How much down + monthly payment.
If the monthly payment is too high I will probably end up leasing a 2016 WRX for $1,800 down at $280 a month which seems like a solid deal to me.
So I was on the Mitsubishi website and they were showing that the estimated lease monthly payment amount for a 2015 GSR was $328.70. It doesn't give any information about how much down, ect. Getting a call tomorrow from the Mitsubishi dealer tomorrow about the leasing pricing and in the meantime I'm just wondering what you guys paid for your lease. How much down + monthly payment.
If the monthly payment is too high I will probably end up leasing a 2016 WRX for $1,800 down at $280 a month which seems like a solid deal to me.
May 17, 2016, 12:46 PM
#2
Almost nobody here has a lease on an evo x, it's not worth it with all the mileage restrictions and unable to mod them. As for an actual loan payment with buying the car, I pay around $500/month, not sure what others pay.
If you really want a WRX, go for it, but it wouldn't even compare to the evo. An STI maybe, but then you'll be looking at stuff breaking all the time, similar payments to the evo, and it will never look as good as the X.
The X needs attention, and lots of it. Consistent oil changes, where full synthetic is ~$50 just for the oil/filter. Clutch changes are pricey if you **** it up, and you can expect 16-18mpg while paying for premium gas. If you have to debate whether you can afford the car, then you probably can't afford the car, especially if you get the mod bug.
edit: I should probably specify, if you get an evo X. You will NOT regret it. It's one of the greatest cars for the money and is always putting smiles on faces, it's quick, sexy, comfy, quick, awesome, fun, and so many more things. I highly recommend getting an X, but just keep in mind that they are not cheap to drive and maintain.
If you really want a WRX, go for it, but it wouldn't even compare to the evo. An STI maybe, but then you'll be looking at stuff breaking all the time, similar payments to the evo, and it will never look as good as the X.
The X needs attention, and lots of it. Consistent oil changes, where full synthetic is ~$50 just for the oil/filter. Clutch changes are pricey if you **** it up, and you can expect 16-18mpg while paying for premium gas. If you have to debate whether you can afford the car, then you probably can't afford the car, especially if you get the mod bug.
edit: I should probably specify, if you get an evo X. You will NOT regret it. It's one of the greatest cars for the money and is always putting smiles on faces, it's quick, sexy, comfy, quick, awesome, fun, and so many more things. I highly recommend getting an X, but just keep in mind that they are not cheap to drive and maintain.
May 17, 2016, 12:57 PM
#4
I have never heard of anyone leasing an Evo. Not really sure why Mitsubishi even allows that. I guess just to get more asses in their seats. Either way, 95% of people will at some point mod their Evo so leasing just isn't a good path to go down.
May 17, 2016, 01:12 PM
#5
Get the evo on payments and get a 1000 dollar beater to help reduce ownership costs. If I drove the evo everywhere it would have a ton of miles and abuse on it. Abuse as in dog hair, mud, rock chips from "road construction" etc
May 17, 2016, 04:36 PM
#6
I leased my 2014 Evo 10 for two years, so now you have heard of somebody leasing their Evo. I can also tell you I'm for sure not the only one here on the forums that lease(d).
People modding leased vehicles are more common than you think. Thousands of people do it and just make sure to put it back to stock when they turn the car in, or they purchase the car at the end of the lease.
I had mine on E85 making +100whp/+100wtq with 900 miles on the car.
OP: Make sure you know you can negotiate the purchase price of the car even with a lease. Don't let the dealer sucker you into thinking it has to be MSRP to lease. In fact, don't even tell them you are wanting to lease until you both agree on a purchase price.
btw, my 2014 GSR with SSL was $346/m with 2k down for 24months @ 12k miles/year. $28,504 residual which was why I ended up purchasing it at the end of the lease.
People modding leased vehicles are more common than you think. Thousands of people do it and just make sure to put it back to stock when they turn the car in, or they purchase the car at the end of the lease.
I had mine on E85 making +100whp/+100wtq with 900 miles on the car.
OP: Make sure you know you can negotiate the purchase price of the car even with a lease. Don't let the dealer sucker you into thinking it has to be MSRP to lease. In fact, don't even tell them you are wanting to lease until you both agree on a purchase price.
btw, my 2014 GSR with SSL was $346/m with 2k down for 24months @ 12k miles/year. $28,504 residual which was why I ended up purchasing it at the end of the lease.
Last edited by razorlab; May 17, 2016 at 04:42 PM.
May 17, 2016, 04:49 PM
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I leased my 2014 Evo 10 for two years, so now you have heard of somebody leasing their Evo. I can also tell you I'm for sure not the only one here on the forums that lease(d).
People modding leased vehicles are more common than you think. Thousands of people do it and just make sure to put it back to stock when they turn the car in, or they purchase the car at the end of the lease.
I had mine on E85 making +100whp/+100wtq with 900 miles on the car.
OP: Make sure you know you can negotiate the purchase price of the car even with a lease. Don't let the dealer sucker you into thinking it has to be MSRP to lease. In fact, don't even tell them you are wanting to lease until you both agree on a purchase price.
btw, my 2014 GSR with SSL was $346/m with 2k down for 24months @ 12k miles/year. $28,504 residual which was why I ended up purchasing it at the end of the lease.
People modding leased vehicles are more common than you think. Thousands of people do it and just make sure to put it back to stock when they turn the car in, or they purchase the car at the end of the lease.
I had mine on E85 making +100whp/+100wtq with 900 miles on the car.
OP: Make sure you know you can negotiate the purchase price of the car even with a lease. Don't let the dealer sucker you into thinking it has to be MSRP to lease. In fact, don't even tell them you are wanting to lease until you both agree on a purchase price.
btw, my 2014 GSR with SSL was $346/m with 2k down for 24months @ 12k miles/year. $28,504 residual which was why I ended up purchasing it at the end of the lease.
I've already talked to Subaru and to get the STI lease payments to $400 a month, I would need $4320.00 down. $2000.00 down and $346 a month sounds much better for an Evo X.
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May 17, 2016, 05:05 PM
#9
2000 down 349 a month 12k miles a year/3yrs. Residual roughly 18.5ish on a 15' base with just the mud flaps and all season matts. It was a lot cheaper than financing. I'm leasing to buy as well, my dealership is mod friendly as well. Not all are.
Last edited by Tucci_973; May 17, 2016 at 05:10 PM.
May 17, 2016, 06:14 PM
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Cool thanks for the info ! I'll see what the guy at the dealer ship gives me tomorrow.
May 18, 2016, 12:13 PM
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Got a call from the salesman at South Coast Mitsubishi. He's fairly hard to understand because he's middle eastern so I honestly don't know half of what he was saying. But basically told me that I won't be able to lease an Evo X GSR for $2k down at $350 a month anywhere. He said at $2k down I'd be looking anywhere from $450-$550 a month but couldn't give me an exact number or even close unless he ran my credit score which I'm not buying because Subaru was able to give me a very close number for the WRX and STI. He said this is all because this is the last year for the Evo and that makes sense but they have over 100+ Evo's at their lot so....
May 18, 2016, 12:45 PM
#12
Got a call from the salesman at South Coast Mitsubishi. He's fairly hard to understand because he's middle eastern so I honestly don't know half of what he was saying. But basically told me that I won't be able to lease an Evo X GSR for $2k down at $350 a month anywhere. He said at $2k down I'd be looking anywhere from $450-$550 a month but couldn't give me an exact number or even close unless he ran my credit score which I'm not buying because Subaru was able to give me a very close number for the WRX and STI. He said this is all because this is the last year for the Evo and that makes sense but they have over 100+ Evo's at their lot so....
I plugged in the numbers for a base 2015 Evo GSR that is $35,305 MSRP, let's say you negotiate the car to invoice (which you should) at $33,800.
With $2k down the net cap cost is $32,395. Let's say residual is 65%, which I think is actually low for a Evo, my residual was approx 80%.
36 month lease would be $318/m before taxes and $346/m after taxes.
Don't let dealers push you around, arm yourself with facts.
Last edited by razorlab; May 18, 2016 at 12:50 PM.
May 18, 2016, 01:10 PM
#13
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one thing to keep in mind is at the end of your lease, if you choose to buy the car mitsubishi will not finance the lease buy out. Not a big deal, you will just need to secure alternative financing. I am literally in the process of doing this for my 2011 MR which is coming up on the end of my 5 year lease. Paying 575/month with a 14k buy out. Don't recall what i put down but there was also a trade in involved that was pretty much a wash because of the money still owed on it. Certainly not the best deal, but at the time with my credit what it was this made more sense then purchasing right off.
May 18, 2016, 02:16 PM
#14
one thing to keep in mind is at the end of your lease, if you choose to buy the car mitsubishi will not finance the lease buy out. Not a big deal, you will just need to secure alternative financing. I am literally in the process of doing this for my 2011 MR which is coming up on the end of my 5 year lease. Paying 575/month with a 14k buy out. Don't recall what i put down but there was also a trade in involved that was pretty much a wash because of the money still owed on it. Certainly not the best deal, but at the time with my credit what it was this made more sense then purchasing right off.
5yrs @ $575/m is $34,500 + $14k buyout = Your MR was $48,500 before taxes?
May 18, 2016, 02:29 PM
#15
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575 a month is including taxes. Also accounting wise i was able to deduct more because of the lease and my business. They werent offering 0% and even if they where my credit wasn't going to get me that anyway. I think the sticker was 40k but then we had factory GPS Installed so that put it around 42. So lets say financing would have been around 6% because thats what sounds likely for the time and lets assume 2k down . 40,000*.06apr=2,400 a year * 5 years comes out to 52,000 before taxes. Now you could say i will be paying interest on the loan for 14k but if i cant get a pretty good rate then ill just pay it out in cash.
I know I could have done better on negotiating, im not claiming i got a good deal or anything. Just at the time it made sense to go that route.
I know I could have done better on negotiating, im not claiming i got a good deal or anything. Just at the time it made sense to go that route.
Last edited by Biggiesacks; May 18, 2016 at 02:38 PM.