A deal offered for F Type R. Advice please!!!!
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A deal offered for F Type R. Advice please!!!!
Hi guys. I would appreciate any advice. I was searching for a new f type convertible. I was looking into the base or even the s, I never considered f type r. Long story short, the dealer had 2016 f type r convertible that wasn't selling I guess. The msrp is $110,000. They want to give it to me for $85,000 with 100,000 mile warranty. But knowing the horrible resale value of jags, I was looking into leasing never purchasing. They want to give me 39 month 12k miles $9,000 down with $1,080 per month. They told me that I drive the car dor just one year and either sell it back or return or go to carmax since I was never looking to drive type r anyway. He says since I'm getting such a big discout off of msrp, I have so many options to actually make profit. I didnt call them back yet and the sales rep just left me a message, I think they might give me even bigger discount. Any thoughts guys?? Please help!!!! Thanks.
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Thanks so much for quick replies guys. I just talked to the sales rep. It sounds like they can go $30,000 below msrp. Giving it to me for $80,000. Like I said, I was never looking into f type r. The only reason I would consider going with f type r is if I have equity and make money off of it. Is there a way for me to drive this only for a year and turn it in or sell it for some cash profit?? Doesn't matter whether it's a lease or purchase as long as I make profit. I wouldn't think so with jags horrendous resale value even for a rare f type r convertible. I live in California btw. Thanks a lot guys.
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As others have stated, that's a terrible lease deal.
Here are some things to think about.
That 2016 is "almost" 2 years old now. People were buying 2016's in late 2015....and now it's going to be 2017. So technically it's not, it's 1 year old, but then take a look at what 2015 R's are selling for as some sort of comparison for resale value.
The first year it's going to lose about $25k. So since you're getting it at $30k off, plus taxes, you're basically getting the first year of depreciation eatin' by them instead of you. So then one year from now you're looking at selling a 2 year old car, and I bet the payments are keeping up with depreciation there. So I think after one year of ownership, on a 2 year old car (going on 3), you'd probably be even. Maybe just slightly above water. Looks like you're saving yourself from having to eat depreciation, but not sure you'd be making any money on it.
Of course every market is different, so who knows.
Here are some things to think about.
That 2016 is "almost" 2 years old now. People were buying 2016's in late 2015....and now it's going to be 2017. So technically it's not, it's 1 year old, but then take a look at what 2015 R's are selling for as some sort of comparison for resale value.
The first year it's going to lose about $25k. So since you're getting it at $30k off, plus taxes, you're basically getting the first year of depreciation eatin' by them instead of you. So then one year from now you're looking at selling a 2 year old car, and I bet the payments are keeping up with depreciation there. So I think after one year of ownership, on a 2 year old car (going on 3), you'd probably be even. Maybe just slightly above water. Looks like you're saving yourself from having to eat depreciation, but not sure you'd be making any money on it.
Of course every market is different, so who knows.
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Burt Gummer (12-23-2016)
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Burt Gummer (12-23-2016)
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Mercedes of Atlanta sold a 2015 Salsa R w/ <6k miles apparently in perfect shape for $67k last week. They replied to my inquiries AFTER selling it of course.
People who don't have a ton of money to fling around need to be smarter than to waste resources on any car lease. With the exception of work vehicles, leases are for suckers (imo).
Instead, get pre-approved at a credit union and go out and find a nice pre-owned F-type - preferably from a private party. Let's face it - the 'retail experience' sucks.
Frugal isn't about rich or poor. It is about smart.
People who don't have a ton of money to fling around need to be smarter than to waste resources on any car lease. With the exception of work vehicles, leases are for suckers (imo).
Instead, get pre-approved at a credit union and go out and find a nice pre-owned F-type - preferably from a private party. Let's face it - the 'retail experience' sucks.
Frugal isn't about rich or poor. It is about smart.
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F12guy (12-23-2016)
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One thing lease gives you is an exit strategy. I leased F-type (first lease in many years) because I weren't sure of Jaguar reliability and was too wary of getting stuck with a $100K prince of darkness/lemon. Now, turns out F-types are reasonably made, but who knew? They were making absolute dogs just few years back, but turns out they got their act together now.
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That's a complete ripoff.
Even without $9K down, $1080/mo is about $100 too much.
No money down, no money at signing (as in they pay all the fees AND your first monthly payment) and $1000/mo should be the MOST you settle for.
Last edited by GGG; 12-30-2016 at 06:48 PM. Reason: More effective than your editing
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Burt Gummer (12-30-2016)
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Maintenance definitly cheaper than our Maserati Ghibli. Just got dealer quote for front pads at $695 than got a 20% discount to $560! This car has only 11,800 mi! Rears have about 2mm left and they are $795 less my 20%! This is for base RWD. Dealer says major complaint from owners. Has some something to do with ABS setup! I can buy pads for $289+ and get a $175 install, not sure it is worth trouble for$100 and car is still on warranty!