I first want to thank everyone on this forum for the wealth of knowledge that has been shared. I used this forum for most of my research on F Types, I feel so much more confident going to the dealer. I found a used CPO 2016 F Type S AWD with around 1200 miles that meets all my desires. I don't have much experience negotiating with dealers, but have watched countless videos and read many articles about how to proceed. The price is listed at 75k, I think that is a fair price but will try for better. It has been listed for over 100 days, that concerns me as it seems like a perfect car and reasonable price but is still sitting on the lot.The website says it has near 150 views, yet no takers.

When I get to the dealer, besides checking the speakers, the trunk weather stripping, and other little quarks that I have seen on this forum what should I be checking? I am an avid detailer and will be bringing my paint thickness gauge, and swirl finder light to know if the car has ever been repainted. Would this be overkill?

I am going to try to get financing through Penfed, I became a member a few weeks ago. My concern is due to buying a home 2.5 years ago and having a decent amount of student loans that I will have trouble getting financing with a high debt to income ratio. My wife will consign for the vehicle with me, I'm not sure if that will help as we share the home and student loans. ( AES/Fedloan required us to consign for each other's loans when my wife applied for a recent student loan and submitted the FAFSA)

I want to be as prepared as possible, I often over prepare but am glad I do. Any final advice that anyone has for me would be most appreciated. Thank you all in advance!

 

Welcome to the forum!

I'd never knock a guy for being over cautious, it's the best way to avoid disappointment.

Gotta say i have never heard of someone checking a potential car that much but its what ever gives you peace of mind, personally though i'd hope that something like a repaint wouldn't put you off the car overall.

Until you know how much you need to pay be careful as your desire to own the car may trick yourself into a bad deal.

Get some numbers and hard facts before you go any further i reckon.

A few other members may have a reason as to why the car has sat there for 100 days, i have no idea if this is normal.

 

Thank you for the reply, I was thinking the paint thickness meter would allow for evidence to negotiate a better deal, I don't care about a repaint, but if I can use it to save some money that would be awesome. The payment isn't an issue, I just wasn't sure how hard it is to get a loan if they simply see a newer mortage and a good amount of student loan debt.

 

Welcome. What was the original msrp of the car? How much warranty left?

 

Thanks for the welcome, Penfed states the MSRP was 91K, the warranty was not posted, something I need to inquire about I guess. Don't CPO cars get a 7 year 100k warranty?

 

I think CPO is 6 years. I had to chuckle at your thread title "Potential F Type Ower". I'm sure you meant owner but reading that you'll be financing, ower does fit. Good luck on your purchase. The F Type is an awesome car.

 

Haha yup, thanks auto correct. I did indeed mean owner!

 

Why own and not lease?

 

That's a good question. I never leased a car before, I did some quick research on how they work but am still a little nervous. I did a quick payment estimate on the Jaguar website, with all futures the same the lease payment was about 1000 a month. With Penfed the payment to own the used vehicle was around 870. I did have about 20% to put as a down payment to reduce the Penfed amount even lower. I read to never put money down on a lease is that correct?

I guess the question I have would be, keeping the features the same: is a 90K 2017 leased F Type a better choice than a 2016 used F Type for 15k less? Is a lease easy to get approved?

Thank you to everyone for the great information!

 

I hate to be a buzzkill, but is this more car than you should be buying at this point in your life? Student loans, a new home, etc. You should listen to Dave Ramsey!
Anyway, if you really want a car for that much money, just see what the wholesale value should be.... look at "trade-in" numbers on KBB, NADA and Edmunds. The wholesale is less than that. I'll bet your credit union or bank could help you out. That is going to give you some idea about what the dealer has in it. Offer a fair number above that and stick to it. As long as they sell it for more than they have in it, seeing as it's been there for 100 days, they may let it go.

 

I appreciate the feedback. I really love cars, but do understand this being an early point to purchasing an expensive car. I have everything budgeted out, so my car/hobby fund doesn't mix with the home and student loan fund. I know I could readjust my budget to not have so much income going to a car, but cars make me happy. I have money going to retirement and investments each paycheck, and have 7 months of savings in an emergency fund. I know the F Type isn't the best financial decision, but I have what I believe to be a good savings plan in place currently. I guess depends how the conversation with the dealer goes can help make up my mind. Maybe saving for a larger down payment would be a good decision.

My main concern with the car being on the lot for 100 days is that something is wrong with the car, I just hope I have enough knowledge to notice a potential issue prior to purchasing.

 

I mistaked the duration of the car on the lot, it seems to be a lot longer than 100 days.

 

I appreciate the feedback. I really love cars, but do understand this being an early point to purchasing an expensive car. I have everything budgeted out, so my car/hobby fund doesn't mix with the home and student loan fund. I know I could readjust my budget to not have so much income going to a car, but cars make me happy. I have money going to retirement and investments each paycheck, and have 7 months of savings in an emergency fund. I know the F Type isn't the best financial decision, but I have what I believe to be a good savings plan in place currently. I guess depends how the conversation with the dealer goes can help make up my mind. Maybe saving for a larger down payment would be a good decision.

My main concern with the car being on the lot for 100 days is that something is wrong with the car, I just hope I have enough knowledge to notice a potential issue prior to purchasing.

 

Sounds like you have a good savings plan going. Congrats, and stick with it! Once you're in the habit of saving, then I see no problem with splurging now and then.

 

I would not be concerned about the length of time the car has been on the lot, especially being a 75k car. Typically cars in this price range aren't quickly turned over.

In your case specifically, with a price of 75k there are a lot of options that a potential buyer could be considering. (Buying a new base model, buying a R with a few more miles, etc...).

As for the "paint thickness light," I think it will only help you. It will tell the dealer that you are serious, may give you more negotiating power....I don't see any downside.

If it were me, I would buy a low milage R-type for the same price or less....but hey, the cool thing is, it's your money.

As for the "lease vs buy" argument, try not to look at the monthly payment....look at the cost of vehicle. I am guessing you could get a 500 dollar payment, but it would be on a 15yr loan. Obviously, I am using extreme numbers/loan terms, but you get the point.

If you are content with vehicles and think that you will keep the car for longer than 5yrs, purchasing will be your most economical option.

If you are like me and get bored with cars every 18months, then you have a decision to make:
1). Lease
2) Buy cars that are 4+ yrs old, patiently wait for a good deal, and sell it 18-24mths later losing only a few thousand to depreciation. (f-type is too new for this option)

 

I think the car is overpriced at 75k. The CPO is probably $1500-1800 of the number.

 

Yeah, there is DEFINITELY something wrong with it - the price.

Below is the link with used 2015 (RWD)/2016 (AWD) F Type Rs (so, a V8, not a V6) for sale for about the same money as they want for the S:


Jaguar F-TYPE for Sale in San Diego, CA 92109: cars under 80000 - Autotrader

 

Thank you to everyone for the great feedback. I need to think over what was mentioned and to contact the dealer to discuss pricing as well. Thank you again.

 

No, the OP is correct: it's 7 years.

Certified Pre-Owned Program Benefits | Jaguar USA

 

The number of years of certified warranty really depends on the model year. 2014's for example have 6 years.