Hello, can you point me to a source of definitive lease rates for jag? Basically, I'd like to know ahead of time exactly what I should be paying based on the configuration I'm buying.

I want to minimize the opportunity for the dealer to overcharge me by knowing all the facts before I purchase. So can anyone here recommend a good source of reference for this?

 

Too many factors to say as hard quote. Depends the purchase price, credit score, the lender... Jaguar is doing some great deals this month, but it all starts with the purchase price. Concentrate on that first and then work on your financing.

 

* I have an excellent credit score so that's a known factor
* I already know the purchase price of the configuration I want: $67k
* I really just need to know the official residual and money factor for 36/39 months at 15k miles/yr

 

That is set by the lender, and that could one of many. Dealer should tell you the money factor for their primary lenders they use; it's not a secret.

 

I know this isn't the subject of this thread, but IMO not enough people lease new cars. Especially expensive new cars.

Leasing allows you some protection over depreciation. Do you really know what your XKR would sell for in 3 years within $1-2k? Probably not!

With a lease, you can have your cake and eat it, too! If the value of the car after 3 years is higher than the residual, you can buy the car and sell it yourself (you'll probably be out the sales tax in most states). If the value after 3 years is much lower than the residual, just turn it in to the dealer!

Suppose you financed the purchase of the car and sometime in the next 2 years we have the double dip recession, and used luxury car values plummet. You're screwed! But if you had leased it, you would have the peace of mind that you can just turn it in at the end of the lease.

Anyhow, good luck! I wonder how the lease rates end up being given that the X150 is at the end of its life and won't be immediately replaced.

 

I lease, I pay cash and I finance…it all depends on my intentions with the vehicle and the costs to do so.

The merits of leasing should be fairly obvious, for less than a monthly finance payment, you can be in a brand new, latest model car every 2-3 years. Not all cars have good residuals though and you may need a substantial cap reduction to keep the payment down and that may not be a good idea with that particular vehicle.

If it is a car you want to be in for 5 or more years, then financing is the better option.

Also for those of you who pay cash, unless you have a really good reason, if you can get 0% interest or close to it, you should ALWAYS use the bank's money and not yours. You can get a significantly better ROI with you cash elsewhere.

 

Even with low interest rates, it will be hard to find financing on a premuim vehicle for 0% rates, or even close to it.

The thought of borrowing the money and using your own to collect a higher return involves risk, and risk management. If your thinking the stock market, there is a inherent risk factor. If your buying bonds ...rates for ultra short term investments like a US T Note are under 2.00%...a 5 T-Note yields 1.78% and 2 yr T-Note yields just .45% as of today.

This was my profession for 31 years, so be extra careful with this idea, of borrowing, paying interest and investing your own funds for higher returns.

If you can get 0% interest then it's make the thought a no brainer. But, despite the low rate environment 0% interest is almost impossible to find. If you can, it's probably only a 2 yr time period, and on a much lower priced vehicle.

Be careful with the stock market, we are long overdue for a good 10-20% correction that could happen at any time.

 

Very true Rich, I was referring to 0 APR or close to it. Jag may not have a deal right now, but other manufacturers do. Back a few years before things went wonky, I financed one of my cars for 0.9% so it made sense.

With your last statement, I share your pessimism. But that's a subject for another topic...

 

They offered me 0% on my VW, so I asked what kind of down payment? No down payment. How long can I finance it for? Up to six years. So I financed the entire price for 6 years!

Sorry, back on topic. I got a lease offer in an email the other day from jag that had some terribly small mileage allowance, something like 24000 miles for a three year term. Always read the small print!