My cousin whose lease ended yesterday on his convertible Audi S5 ventured into Hornburg Jaguar in W. Hollywood to see what kind of deal he could get on a new lease on a V-8S Convertible. He also stopped at a Porsche dealership to test drive a Boxter S as well. His Audi only has 9000 miles on it and is in showroom condition and his buyout was well below its actual value. He just wanted to test a few other models before he made any decisions.

He called me early this morning to ask what I thought of the F-type (since he knew I had one for a few days which he drove for a few minutes when I had it).
The shocking part of it was he was offered a lease on a ~$110,000 fully loaded V-8S for $800.00/month with only $2000.00 out of pocket! The Boxter S lease would have been $1400.00/month with $5000.00 out of pocket. The Boxter S's
sticker was nearly $90,000.00 fully loaded.

In the end, he purchased his Audi S5 for a couple of reasons. First, he can buy it and resell it and still make about $5000.00. Secondly, he felt the Audi's dual personality of smooth daily cruiser and/or weekend warrior was more to his liking than the more sports car oriented F-type or Boxter. Thirdly, he was used to it.

I guess the shocking part was how inexpensive the Jaguar lease was on a $100K+ car, it's more like the price of a car costing half that much.

There are some great deals out there!

 

Was the car a remainder 2014? I've seen deals like that on old inventory.

 

Just looked at their site. They advertise the lease but its 849 plus tax with 5k down and is only for 7500 miles.

Edited to add they also don't have a 110k V8S showing in inventory. It's possible the car was sold yesterday, but it would be relatively rare for a dealer to update their website so quickly.

 

Yes, my local dealer had a fully-loaded (black w/ red full-leather, carbon-fiber blade wheels) '14 V8S advertised at $20K off MSRP last week.

 

7500 miles/year would be a deal breaker for me...what's the point if you can't enjoy the car for what it was intended for?

 

You can't lease a 2014 it has to be purchased.

 

I beg to differ. In mid November, I began a lease of a leftover 2014 base convertible. Under $600 /month with very little out-of-pocket. Dealer was willing to deal heavily to move the vehicle from inventory.

 

Jaguar Financial aka Chase has a 2014 program still in effect. They are partners with the OEM and these leftovers need to be moved.

 

You are correct, I was told last week you could no longer lease a 2014 but that person was obviously wrong. I looked at the program & Chase is still leasing the 2014 cars at least thru 1.2.2015. The new programs will be released in a few days. I will look to see if the 2014 cars are listed.

 

Seems like there are a lot of remaining/leftover convertibles so you can really get some good discounts on them. Combine that with a low mileage lease + low money factor you can easily get one for $1K a month including tax for 36 months. I'm curious if people are seeing good deals on the coupes?

 

Not just the verts my friend. The LA dealer had R coupes leasing for not much more than the V8S.

 

Did a google search for LA dealers, first hit got me: Los Angeles Land Rover & Jaguar Dealership CA - Southern California - Hornburg LA
yea, looks like they're discounting about 8% off MSRP right now (or offering some type of rebate that's equiv to 8% off). even if you needed say 15k miles/year you can do the 7500 mile lease then just pay $2,250/year in excess miles at 0.30/mile.

 

Imputed interest on leases is 12-18%. It is far less expensive to finance at the going 2% rate and then sell the car at the end of 3-5 years.


The only exception to this is if you can write off the lease payment as a business expense.

 

Where are you seeing Jaguar Credit leases with interest rates that high???

 

I was going to wait to get the AWD v8 convertible but if there are good deals going on in my area (southern california) and I can get a lease for 10K miles per year and stay under $1000/month I'll take the current model. Still can get JCNA discount for a lease right?

 

If you run the internal rate of return calculations on the cash-flows during the life of the lease, that's what you will come up with. The calculations that I have run are not specific to the Chase contracts, but are numbers that I have seen on current auto leases generally. If you have specifics on a particular lease, I would be happy to run the calculations for you and share with you my assumptions, most critically the assumption regarding residual value. What makes things worse is that the financing companies look at auction value as the residual value rather than the trade-in or true market (owner sale) value.

 

I did not ask my cousin about the mileage restrictions, however in three years he only put 9000 miles on his Audi S5 so 7500/year would not be a problem for him. I asked him if the lease offered him was for a 2014 or 2015, he said it was for a 2015 (he's pretty sure). And finally he said the sticker on the car was approximately $107,000. Hornburg told him they were able to package several factory incentives together to get to that rate. The Porsche, on a considerably less expensive car, was 75% higher per month with 250% higher on the down payment. This deal, although he didn't take it, seems to be an incredibly good one.

For anyone in Southern California (or elsewhere) interested in more information, my cousin said he would provide the saleman's contact information as well as the details of the offer. Just let me know.

 

I just looked at the F-Type leases & they are all 10k per year, where are the 7500 mile leases being found?

 

On the dealer's website. The leases advertised are for 7500 miles.

 

I wonder if they are using an outside bank? I like the idea of a 7500 mile lease.