Then start driving on 280.

Better scenery, less traffic, no trucks, and on a day to day basis is easier on the nerves.

Use the car, Sir William Lyons would insist you do.

 

I'm sorry - maybe lease rules are different in the USA ??

its a lease car ergo, its not your car............ how can you sell it ?

you can hand it back (with penalties obviously), so really not understanding this ?

 

Some years ago a buddy bought a very low mileage mint 911, the story was, the previous owner put most miles reversing out of his garage, polishing it in the driveway, returning it to the garage. The "end" came while on a short trip, he turned back when faced with approx 500 yards of gravel in a construction zone. Wife was totally fed up so car was sold.
Buddy of course drove it like a car and enjoyed it.
Our cars are beautiful but they are not rare, unique jewels which will steadily appreciate and be worth $8 gazillion if we just keep them hermetically sealed for 50 years.
I'd go with drive it, enjoy it, if you get chip, door ding, fix it....and permit yourself to smile every time you start it, downshift unnecessarily just to hear the snap, crackle and pop just because you can, add that to each day as you go about your work.
I'm retired and look for "reasons" to take it for a spin....you get to enjoy it as you work.

 

Things aren't different here in the US. As long as it's leased, hardwired can't sell it. He has a buy-out option which he would need to exercise before he can "take title" and sell. First, early lease buy-out will inflict some penalties, and then the depreciation will make this divestiture massively expensive.

 

Actually, I got out of my Porsche lease without any penalties and with a minimal hit on value, when I traded for this F-Type. It depends on the buyout value on the lease car and what you can sell the car for. Porsche USA has pretty good terms for getting out of your lease, although I have not studied the Chase lease on the Jaguar since I have no intent of leaving early.
My deal was with a dealer so I had no cash flow issues surrounding selling the Porsche. I was prepared to pay up to 10k to get out of my Porsche lease and in the end, it only cost me 2k.
Larry

 

^^^I'm with Larry.

Of course you can sell your leased car without penalty. Just three months ago I sold my leased M4 to Carmax in order to get into my Type R and had a surprising amount of positive equity--albeit it was a European Delivery car (already discounted) and seemed to be at a "sweet spot" with 19 months in. Now whether you will have any positive equity remains to be seen. I'm actually very interested in knowing your buyout and what dealers/Carmax would be willing to offer you.

I would love to mirror the same deal I made with my M4 with the Jag in a little over a year from now--I tend to get bored with cars. But I highly doubt this will be possible with Chase Leasing. From my limited understanding, Chase will offer you two different buyout quotes--one for the leasee and another one (more expensive) for a third party. However, I'm not completely certain of this two quote rumor. Would love for someone familiar with Jag/Land Rover Chase leases to chime in.

 

Even if one has positive equity, it's still a money losing exercise no matter what. With positive equity, you're still going to sacrifice funds you paid at some point in the past. With negative equity, you'll have to pay out of pocket at the time of the transaction.

The only difference perhaps is psychological since the funds paid to put you in a positive equity position were forfeited some time ago, and it probably hurts more to write a check just to get rid of a vehicle.

 

Yeah, but that is the whole deal with a lease; you are paying money you will never get back. That is true when your lease ends or if you buy out with positive equity. Clearly there are other reasons why a lease is attractive to many. But from what I read, it is more common to be penalized when trying to end a lease early.


Larry

 

All leases have a payoff that you can pay to either buy the car outright yourself or to sell it to a 3rd party. If you utilize the payoff there is no inspection of the car or any penalties that you have to pay.

Unfortunately for us, JLR financial (Chase) does not allow lease transfers under any circumstances; however, it has been reported that if both parties are residents of CT you are able to - but this is not confirmed.

 

Not if you never originally put down monies as a cap cost reduction/down payment.

There is no doubt that having positive equity on a lease (without a cap cost reduction/down payment) mid-contract or at the end is very rare; but in my case, Ms typically hold their value and this was also a euro delivery car. Plus it helped in my case to sell the car with my aftermarket winter wheel/tire setup installed so I could then sell the OEM forged wheel/tire on the forums!

 

So lease transfers are not permitted.
But have you heard of two different payoff amounts--one for the leasee and one for a 3rd party?

 

I haven't. If you login to your account on the Chase website it gives you the payoff number.

 

This. I am a $90K out the door base w/ all my options... I got 4.5% off or something from the custom order MSRP, so I negotiated some other perks...

I got the film cover for $1800, I think the wheel and paint ding for $1500 or something. I have to admit, there's a few parking lots that make me nervous, but it seems the general public loves this car, and respects it... at least it appears that way. However, I might be known around town, and like that Audi A4 commercial where the guy lets people merge and pays for people at the bridge toll... that's how I roll. So I might be making a name for myself in a small community, and people recognize the car.... but seriously, that's my only concern.

I am not completely sure I understand a car that can't be driven. It's like a bottle of champagne too nice, and for a special occasion.... it becomes a paradox where no occasion is special enough. It's life. We're alive. Somehow you got your hands on an "R". That's the special occasion. Really hope you drive it.

Also... let's make this clear - Craigslist is dead and worthless for hiring, selling, or anything. It's all just sketchy nonsense on there, and there are too many other tools to consider, at this point. It's worse than 4chan at this point LOL

 

So if you come back to find a dead skunk in your car, you will know why.

 

Just to add to the daily driving comments. I do drive my R coupe everywhere - office, out to dinner, into the city and park on the street. The only think I really don't like to do, unless a last resort, is to valet.

At the end of the day it's just a car, regardless of how special it may be to us individually. Like others have said if rock chips bother you, get some kind of PPF. When parking just be mindful of where and how you park.

 

I'm not being negative, and have no qualms with people that get them, but *man* I've never understood leases. It just seems like it is built for your to not enjoy the car, on multiple, multiple levels. Oh man. It takes the joy out of "ownership".

 

Actually I have recent experience to the contrary. I sold my modified TT-RS on CL within a week for the price I wanted. It was also the first person that came to the look at the car. Paid cashier's check ($55k). I got nothing but dealer low ***** and middle man resellers from my posts on cars.com, kbb.com and autotrader.com. I've also managed to move two motorcyles and another car on CL, no issues.

I always have something up for sale on CL. You just gotta recognize the non serious buyers (low ballers) or the scammers which for vehicles is usually the same scam saying they'll buy the car for list price, but they are currently stationed on a ship or something like that. They'll pay to have it shipped somewhere else and pay you extra for the inconvenience. Just ignore and move on.

That said, it is pretty cheap to get your car listed on all of the major sites. I think I was in about $80 to have mine listed on KBB, Cars and Autotrader. Ebay was the only one I didn't do.

 

I think you kinda hit on the head that you don't understand how a lease works. It's just another financial tool to use when buying a car. It's not for everybody or every situation ... but for my situation for this car it made perfect sense.

My lease payment on my R is 783 a month with nothing out of pocket due to a really low MF (lower than finance rates) when I bought it and getting a screaming deal on the purchase price. An equivalent payment for a 5 year loan for what I paid at the time would have been about 1500 a month.

Basically all I am paying for over the next 3 years is a fixed amount of depreciation. Which is the one of the most important item to me , because as we have seen depreciation on Jaguars has historically been terrible.

At the end of the lease I have a couple of options buy the car at the buyout price if here is equity in it and dip that into a new car. I'd the car is worth less I walk away or negotiate to buy at the lower price. In any event I only really lose out on the interest that I pay and that's minimal - it's only a few hundred over the lease term, but I only pay tax on the depreciated amount and not the entire sales price. If if chose to buy the car at the end of the lease it doesn't cost me anything extra but I've had an extra 800 of cash flow the entire time that I can continue to dump into investments.

I daily drive my car, and have no qualms about taking it to the track, doing long road trips, modifying it, etc. the fact that it is currently a lease doesn't change my view on my "ownership" or impact my ability to enjoy the car 100%.

 

Shaun,

How long ago did you get your car? I'm definitely jealous as you got a great deal. Congrats!

 

F-type is the first car I leased in a long while. Lease has an advantage of providing you with an exit strategy. Considering how historically unreliable Jags are, I wouldn't consider getting one if I am in danger of getting stuck with a lemon nobody wants and nobody able to fix.