Hey Guys!

I am looking to get a second car. Was looking at Premium Level F type Coupe. Seeing as I already have one car payment over $1k, my goal was to keep this second one below that without having to put money down, because the thought of putting money down on a lease makes me wanna vomit. Now, I am admittedly new to leasing and I'm horrible with numbers which is why I need help.


Got email offer on a 2017 premium coupe Polaris white/jet interior with vision , wheel lock, and active exhaust package. Says MSRp is $74, 533.


He said it would be him selling it $1k over invoice price for them. 2k payment would include my first month payment and "fees". (Fees being $20 tag, $18 title, $525 processing fee, acquisition $795)


33 month/15 miles per year= $1098.34


Lease end value would be $55,154.42.
Money factor = 0.00271


other things I see on email include initial cap cost = $71, 771.06
cash cap reduction= $1182.22
adjusted cap cost $76444.56


I don't understand many of the details but that doesn't seem like a sweet deal to me. I seem to have seen people with the better engine setups and more packages getting pricing. Am I crazy? or is it because of the 15k a year and people are putting money down?


Any input greatly appreciated.

 

Do you live in US? Are you shopping for F-Type or F-Type S? Coupe or convertible?

MSRP - discount comparison is rather pointless, as dealer can attach a lot of fees to make discount appear greater than it is. Do comparison shopping using all-included price.

Never take first offer you get, contact sales managers from multiple JLR dealerships in the area directly via email and ask for quotes. Refuse to come in person until price is negotiated.

For a second car, consider going used as you will be eating all the depreciation without using your car much. F-type is comfortable enough to be a daily driver.

 

I live in USA, Georgia to be exact. I want just an F Type coupe, not an S or R. It will be a second car FOR ME however will be sharing one or the other with my boyfriend who lives close to home. Otherwise if it was just me, I could go lower on miles per year.


I guess I just want an idea of what a good deal was for this car especially seeing as I don't want or need a bunch of the fancy upgrade options. All I asked for was a premium for the pano roof and automatic.

 

Way too much for a base car. Now is not the time to be leasing 2017s with that MF.

I would look to 2016s or Penfeds payment saver loan for a 2017.

 

I thought so. I emailed the guy back and told him people were getting WAY better deals on the 90+k cars for the same price.. thanks for the input!

 

+1

I don't usually chime in on the financial discussions, but had to on this one. You could do way better and at LEAST get a '16 "S" for this deal.

 

Very reasonable decision. If you are set on leasing, consider going with 2016. You can expect at least $15K off MSRP, but you will have to take one off the lot. So you won't be able to pick options or color.

I set out to buy base coupe in Febrary this year. I ended up with F-Type S convertible for a lot less money than the best offer I could get on coupe made to order. I got it in one of the colors I wanted, and with almost all options I wanted. I think I got a good deal at $15K off MSRP and no fees other than standard Freight + PDI.

The numbers you were quoted should get you into loaded 2016 F-type R.

Two considerations - V6S would have standard two features that make it a lot more comfortable: tech package that includes blind spot monitor and electronically adjustable suspension that is softer than base. There are other difference, but they might not be relevant for you.

Also, all F-type base in US are 'premium'. You can't get UK version of base (no memory seats and so on).

 

I really appreciate all the input. Last night I had emailed him about all these other deals people were getting and that his didn't sound remotely close enough to what I should be paying.... In the nicest way possible of course. his response was that the 2017s were "leasing better price wise" than the 2016s left and that he could also give we 15k off MSRP and another 3k rebate only on purchase and not lease. I have since reached out to another dealer just to see what they say. I've been stalking these forums for hours yesterday trying to get an idea of a "good number" so I appreciate you all very much!!

 

That is incorrect. In the US there are two levels of the "base".
-F-TYPE
-F-TYPE Premium

US Spec F-TYPE does not come with memory seats. The seats are 4-way power and MANUAL adjustable.

 

Leasing a Car for the first time can be a bit daunting, I'm no financial expert and have only leased a couple of cars in my life, but I will try and put it into perspective:

33 month/15 miles per year= $1098.34
The Bank owns the F-Type and that's how much you will need to pay every month to drive it, so 33 x $1098.34 adds up to $36,245.22 + $2000 down = $38,245.22


Lease end value would be $55,154.42.
This is a very important number and is normally called the residual and the amount you need to pay the Bank to keep the Car after 33 months.

Money factor = 0.00271
To make this number make sense and turn it into an interest rate multiply it by 2400. 0.00271 x 2400 = 6.5%


other things I see on email include initial cap cost = $71, 771.06
cash cap reduction= $1182.22
adjusted cap cost $76444.56

Cap cost is the amount being financed.

Hope this helps.

 

Just got my 2016 V6S AWD MSRP $96K with "super performance braking" pack, dealers are trying to get rid of their 2016s so if you don't need the 2017, go for the 2016.

I live in Socal and I saw some leases for 2016 Rs that are $899 per month when shopping for my car.

Mine was discounted to $88K and my monthly payment is below $900 a month with 12,000 a year for 33 months.

Like you, I just wanted the base but the dealer was asking for crazy payments for the base 2017, I walked. Anyway, I shopped around and I ended up with a better deal and a better car.

 

Awesome! Thanks so much for the heads up!