I've started noticing a lot of commercials about leasing a new XF and the payments aren't much more than my 2010. I'd like to get the new v6 if possible for mileage but I don't know if I could stand not being able to customize my car!! I do think I could do some cool things with carbon wraps and such as long as its removable.
On the plus side, the new ones are simply stunning and really don't need a lot but I'd probably have to order a more base model to keep the payments right.
The second issue is how do I deal with my existing car? I only owe about 13k and icpve been making double payments lately to get it paid off faster. Should i privately sell it? With all of my modifications, I'd probably get more that way.
And the last issue is that I've been interested in the new lincoln MKZ hybrid. I drove one and I've gotta say its pretty nice!
I'm not into the preformance as much as the look and amenities. And mileage! I travel a LOT for my business!!

 

I think the $400+ payments is for the 4 cylinder engines.

Dealer will probably give you more than what you own on it, but don't know how much more as modifications only take away from the value. But, they will be happy to get you into the new car.

Selling it privately, may take a while even at a good price point, as you limiting yourself to a small market with those mods.

And, MKZ?????

 

I've actually had one local offer for about 26k. I'd be happy with that. Thought about calling him and seeing if still interested. Trade in is about 20-21k. Irregardless of the mods. I've been told the mods don't make any difference either way from several dealers.

 

You should run the full economics to see how it compares. Even if lease payments are similar to your current car payment, at the moment you end up with a car once you're paid off - at the end of a 36-month lease on a new vehicle you don't have any ownership. The Jag lease offers can have modest annual mileage allowances (I read 30k miles over the 3 years of lease - above that it's about 30c per mile overage charge). So if you are high mileage driver you could end up spending quite a bit. My guess is once you sell the current car and pay the initial downpayment for a new lease, you'll be a lot worse off financially.

But - of course - you do get into a brand new Jag which would be exciting - and a new warranty. So a trade-off for sure. Just not convinved there is a good financial argument.

I have a 2010 as well - my plan is to hold until the new XF comes out in a couple of years.

 

I'm working on doing the math. I was looking at 3 years and 15k per year. Well within my mileage needs. Not thrilled with the "no car at the end" unless I simply keep leasing.
I guess my issue is, if I still have three years to pay for my current XF, by then if history repeats itself ill be lucky to get 10-12k for it. And the likelihood of the car not having mechanical issues within the next three years, and under warranty, isn't good either.
I like the fact that I can, at any time, swap it for a different car, say a new model XF! It's all a crap shoot. I've never leased a car, but not have I ever paid off one! I tend to trade near the end of a warranty. I have bought with cash other cars, like my XK8, but not much of a chance I'll have cash to purchase a new XF.
And today I drove the MKX lincoln hybrid and I've gotta say, it wasn't bad. In NO way was it remotely like driving an XF but as far as interior and tech, it was great! And a decent looking car too! And 35+mpg city, like that ! If that darn XS would make it to production with a hybrid .........

 

There is a web site I referenced when I considered leasing that helped me understand the particulars. Go to RIDE with G | monthly lease rates, auto leasing tips, industry news and personal rants. They a leasing 101 article and a lease calculator to tell you if the lease is a good deal. It may help.

 

Interested to hear where you end up on the calcs and what you decide. I've never leased either as I've always felt like the economics of a couple of year old 'gently used' work out better. If you plan to keep it, you should think about the extended warranty. I bought mine when I got my car as a CPO last year with the 6-year warranty. There have been a lot of discussions about them on this board and I think (but not certain) you can buy the extended warranty for an existing car from your dealer (not to mention, lots of third party ones available too, although I'm wary of those). Mine was a little under $3k which seemed worth it to me for a few more years of peace of mind.

Let us know where you land! I just hope it's not the MKX...

 

I've pretty much decided to keep my existing car. It actually makes more sense to bump up my payment by 100 a month and get it paid off earlier. Since anything over my payment now, goes straight to the pay off, my equity will be higher by the time it's paid off.
It sounded good to lease during the lease but at the end, I'm stuck coming up with a large down payment to keep my payments where I need them just to get in another car. And who knows where I could be financially at that time.

 

Makes sense and good to hear you aren't going for a MKZ. The electronics are cool, but once the novelty wears off, you will start missing driving dynamics of a real car, like the XF or anything in that segment.

Plus, right when you finish paying it off, you will have an option of slighlty smaller XS and all new XF in an alyaminyum form. Lighter, faster, more fuel efficient. And, from what i have heard, seen it's supposed to look more like the C-XF with more upright grill and slicker silhouette.

 

That's what I'm hoping. But I'm also hearing whispers of possible hybrid engines as well. I know those wouldn't be as dynamic as a conventional engine, but?????

 

Wow this is a tough post as you have 2 very controversial topics in one!!! And the answer really depends on a ton of factors (mileage driven per year, disposable income, etc).

Lease vs Buy -- this has probably been beaten to death on many posts but to me if you have a 10-12k annual mileage history AND you get a new car every 3-4 years it is a good option to consider. My previous 2 cars (BMW and Audi) were more daily drivers for my wife which we leased and they worked out great. What I like about it was Low Risk -- w/ the maintenance plans basically the only think I was responsible for was tires -- and fortunately neither needed them at lease end! So my only cost was my monthly payment!! And when I was done w/ the lease I just tossed the keys back to the dealer and off I went! Again, good for me but not for everyone as the other side is where I'm at w/ the Jag. I purchased as I want to keep for a long time and it's a garage queen -- 3 years old w/ only 10k miles! What I look at is my annual cost (to dumb down the analysis a little). For Example, the BMW had a $$329 per month payment so my annual costs were ~$4k and since everything was included that's not bad for what we got. Most cars I've owned in my life (which were not luxury car brands) I kept till they died and I spend at least $3k per year once I annualized ALL the costs... anyway that's just me and how I justified...

Next topic is keep vs buy new -- again it entirely depends!!! IMO I'd keep it as you have a great car w/ little issues...

Sorry to ramble! Hope this help you decide but you have a ton of factors in your decision -- it's not an easy one... Especially making the jump from owning to leasing! it's hard to swallow when you give the keys to YOUR car and then drive away w/ the banks car! But at the end of the day remember that a lease is just a different way to finance (finance is just a $0 down lease when you run the #'s)... Rambling again...

have a good weekend