Hello All, so just over 2 years ago I did a 3 year lease on a base coupe. I had the good sense to insist on a 15,000 mile per year lease, but I am afraid that was not enough. I went a bit nuts enjoying the car driving to the nearby NC mountains (who can blame me). So I have about 10 months left in my lease and I am at 41,000 miles on a 45,000 mile lease. I love the car and ultimately my hope is to just get into a new Ftype, but of course I want to minimize the damage of the miles overage. I understand that Jaguar has a "Pull Ahead" program that can get you out of your current lease and into a new one about 9 months before you lease ends. Does anyone know about this or have other thoughts or advice? Thanks very much! Happy Motoring!

 

If you're trading it in on another Jaguar, it's very likely they'll overlook the mileage.

 

I leased my 2015 V6S through Chase. I was able to pull ahead at 6 months remaining but actually turned the car in with 5 months remaining. I guess it depends who you leased the car from.

 

Thanks, yes, my intention is go get another F-type. My lease is through Chase. Thanks.

 

There are a number of threads on here about pull-ahead lease buyouts but I think those are normally shorter time frames (like 3 months out). Since your lease is a 36 month lease, you still have 25% of your lease outstanding so that's a bit tougher but why not ask your local Jag dealer if they can help you out as they will be the one getting the credit for the new lease.

There is always an option of simply parking it when you hit 45K miles and renting a car until your lease expires. We had a neighbor do that. You can also continue to drive it and simply pay the overage mileage penalties but that can get expensive (like $0.50/mile on some).

If you like the car, why not simply buy it at the end of the lease? That way excessive miles would not matter as you would not be turning it into Jag and therefore they would never the excess. You would simply continue to pay your normal monthly rent payment for the next 9 month and then write a check for the previously agreed upon residual. No penalties, no fees but also no "new" car.

 

Thanks to all for the suggestions. I probably could drive it a few more months before hitting 45K and then could park it until I reach a point of doing the Pull Ahead program.
In my case I don't think buying it at the end of the lease will be a good option. They have overvalued the car (the buyout price) when I compare to what is for sale on the market now. At this price, they can have it back.
Thanks again to all!

 

It's not surprising to hear that the residual is pretty high. That's part of how they are able to offer the lower monthly lease prices and but since yours was a rather high mileage lease, your residual should be significantly lower than others who took out the 7,500 or 10K leases. If you have an interest in TRUE wholesale, PM me the details on your car and I can provide you the current Manheim figures privately.