Hey guys!

Long time lurker, new guy to finally post!

Long time BMW driver here.. with BMW finally being phased out (to me anyway)

I've decided to go shopping for a new car.

Lots of looking later, I got a deal for a 2016' F-Type R Convertible. Ammonite Grey with jet/ivory stitching and a few extras. $111,xxx. 0 drive off fees, 0 down, 0 out of pocket.. for $902 a month. 39 month. 10k miles. No tax state.

NOW BEFORE YOU SAY "YES, YES, DO IT"..



I LOVE the Coupe. The Coupe is a 100 more dollars for the other white R Coupe they have on the lot.. WHY is it 100 more? I understand leasing formulas and the fact that the Coupes have 1% lower residual and a slightly higher money factor, but the fact that the car is 3-4k less should outweigh the $100 a month bump. Maybe, make it like.. $20 dollars difference. It's quite obvious.. that I should probably expand my search for F-Type Coupe R and try to hit that notorious 900 a month I'm gunning for (Don't ask, I just HAVE to.. with zero down).

I'm hoping to get lucky on a BASE white R coupe (not the 108k+ models) and just get lucky with it and I think I could hit that $900 figure.

Also, that $902 figure.. I got off one phone call. On the first dealership.. if I can't find an R Coupe.. Does anyone think I can make find one in the 800's?!

I've seen some crazy deals perusing other dealerships inventories around the surrounding areas (nothing I like so far).

What would you guys do in this situation? I live in a pretty rainy state. A convertible isn't exactly too welcome here, although the summers are great, it rains from September to around late February every year. OFTEN.

 

I would be very surprised if you can find an R Coupe in the 800's with the residual and mf I just got for a January deal. It could be that February is much better on the mf, but probably not the residual. Even $900 would be a good deal. The dealer I referenced in a different thread does some great deals, check with him.
Larry

 

Oh I meant to find a Vert R in the 800's.. if I don't find a Coupe for 900 straight.

Since Vert's obviously lease better.. if I fall short on my search, should I just go for a Vert at 800's if I can find one?

 

I cannot answer that for you since it is a personal kind of decision. I would not want a rag top if I could get it for free. I do not like the noise at highway speed, the need to wear a hat(sunburn), and the fact that my climate is top up most of the time. Southern California owners have an entirely different outlook.
Larry

 

See, that's my issue as well.

I get the novelty of being able to hear the V8 noise so well..

But here in the PNW.. it is gloomy, cold and rains a lot...

 

If you are a Coupe person and can get in the 900's for an R Coupe, I would jump on it. I simply cannot believe prices are that low at a residual of .56, but then dealers need to unload the 2016's.


Larry

 

Actually my issue is another one altogether..

I found an 2016 R Coupe listed for 95k. That stickered at 109k.

When I called (excited as hell mind you), I asked what the payments would be.. 39 months, 10k... 1233 with no tax.

What the hell was this about? I guess when a car is over a year old, it's losing the ability to lease through Jaguar and has to be sold as new car with a loss of a few warranty months because it's going through a 3rd party leasing company.

Basically, i need to find a dealer, which has a RECENTLY built 2016.. that is also desperate to sell it in white, hopefully with white or red interior... that's a base in all other aspects.

 

Actually, that payment is very close to the terms I got through Jaguar Financial/Chase so I do not see how you can expect much lower. My build was December 2015. When I used the Jag website to search I was not looking for white, but I did not see very many simply base R's. The only option I wanted was vision pack but everything had options I would never have ordered.
Larry

 

Well, hmm. It's odd then. If I go on Jaguarusa.com, then build a F-Type R Coupe..

And put 15k "down".. basically a cap cost reduction.. I get a payment of $901, and $867 respectively for a convertible. The 15k off I've found plenty of, most hovering around the 12k range, with a select few for 15k off. So the 1233 figure doesn't make much sense for a 15k off car.

 

All you BMW guys coming over here trying to get these killer deals! LOL

 

The lease calc on a manufacturer's website is never accurate. I just did a national search on JagusarUSA.com and on 6 white R's show up less than 99k. Orland park has 2 with red stitch and red belts, one at 95k the other at 97K lightly optioned. Call them and see what they will do.
Larry

 

Here's a quick formula I did using the numbers I found. 56% residual and 0.00132 money factor.. it doesn't add up when comparing Jaguar USA numbers...

2016 F-Type R Coupe.

$105,000 sticker.

$105,000 x 0.56 = $58,800 residual.

If price is 15k off (hypothetically of course, found a lot of 12k off so far)

$105,000 - $15,000 = $90,000.

$90,000 - $58,800 = $31,200 in payments made for 39 months.

$31,200 / 39 months = $800 base monthly. Time to add interest.

Take the residual and price paid for the car.

$90,000 + $58,800 = $148,800.

Take the $148,800 and multiply it by the money factor (0.00132) to get the interest payment.

$196 in interest.

Add the original $800 + $196. $996 a month with no document fees, State Tax or anything else.

Yet, when I take a base R Coupe on Jaguar USA with a cap cost reduction of 15k (off MSRP) at $104,495, with 39 months, 10k miles.. I get $901.

The rates we have access too must be wrong. It's not the first time I've seen the 56% number listed for 39 months on the R Coupes.

This is what my Jaguar calculator says.

https://gyazo.com/ec4d888fc13dfb61d41fd44f5b6e8c3a

 

If I put 95k in for adjusted cap cost on my lease terms I get just about the $1235 monthly that you got. That assumes an MSRP of close to $109k. Too many variables without knowing the MSRP and adjusted cap cost. I built my own lease calculator.
Larry

 

Hahaha, I have to keep my garage full of good lease deals. You don't even want to know what I got my M5 and M4 for. :P

$699 for the M4 and $865 a month for the M5. Zero down.

LOL.

 

In January I could not do better than .00247 money factor. Again, the website lease calculator is never anything you can trust. You have to deal with the finance guy at the dealership or your lessor. 0.56 is the right residual, as far as I know.
Larry

 

Well the idea is simple right? You take the residual of the MSRP, the cap cost is what you pay leaving the dealership for the car (in this case $95,000 hypothetically). The base payments are the difference between the sold price and the theoretical value of the residual that Jaguar has given. It makes sense that I get a payment of $997 for even a MORE loaded F-Type R here locally.. but what I don't understand is the Jaguar configurator

I mean, I should take it's values with a grain of salt of course.. but dang!

Hmm, I see a .00132 number listed now for the 39 month lease.

 

$1170 when I use your MSRP of 105k and 90k adjusted cap cost, for my lease terms.
Larry

 

Where did you see .00132 listed?
larry

 

I think a lot of people are out-of-date and/or misinformed regarding modern convertibles. With the top up in the F-Type, interior noise levels are essentially the same as the coupe because the top is so well-insulated. Moreover, it is no more cramped than the coupe with the top up, and rearward visibility is considerably better in the convertible.

Comments like my "climate" is not conducive to convertibles always perplex me. Even if you only have the top down on only "20 perfect days a year," those days are priceless, and it's an adrenalin-rush, driving experience that a coupe can't touch. You are blessed with a completely different car. Since the top can be raised and lowered up to 30 mph, it can go up and down multiple times on single trip without stopping. On all the days with the top up, it's pretty much like driving the coupe, even in inclimate weather.

The only solid arguments against the convertible are that you personally like the looks of the coupe better (I don't), and you need/want the additional luggage space. I'm on the opposite end of the spectrum and wouldn't have purchased an F-Type if it weren't available as a roadster. I honestly don't see the point in 2-seater hardtops, which should all be roadsters. ;-)

Can't comment on leasing a car, never have, and always cash purchase.

 

Also did another quick calculation..

The difference between a $104,495 and a $109,495 MSRP in payments is exactly $56 for me.

That would help considerably getting near that elusive $900 figure I'm trying to get too. Currently my deal on the table is a 2016 F-Type R Coupe at 109k. Glacier White with Jet/Ivory Stitching, Vision Pack, Black Pack and illuminated something + one more thing I'm forgetting. $997 a month. 0 out of pocket as offered by my dealership. He said it was his bottom dollar. Only 150 miles away.