Did you recently rush to buy a new vehicle before tariff-related price hikes? A reporter is looking to speak with shoppers who felt pressure to act quickly due to expected cost increases; please reach out to PR@Edmunds.com for more details by 4/24.
2014 and Earlier Jaguar XF Lease Questions
This discussion has been closed.
Comments
When I said I would be better off just buying the car outright, I was told that Chase and US Bank would not finance it at their incentive rates at that price. I said "fine - then I will just buy it outright and worry about the financing myself. Then I was told that they could not sell the car at that price because they are receiving a large incentive for 2009 leases that they are willing to pass on to me, but there is no incentive available to the dealer if it is not leased.
So it looks like you can either drive down the price $5 to 6K or more below invoice and put up with crappy lease terms that jacks your payment back up, or you can get better financing or lease terms but without the price break.
I have used this dealer for years and trust him and he really went to the mat to squeeze every penny out of the cost of the car, but he said his hands were tied by the leasing companies as to what lease terms he could offer if the incentive payment was taken. And I understand why he cannot sell the car at such a low price without the incentive payment. So I am running all of the different options to see what is best. Also waiting to see what the June leasing rates are for both Chase and US Bank (does anyone know?). I have no issue with the dealer as he is really working hard with the hand he has been dealt and I will likely purchase from him as soon as I figure out the best deal including going outside of the Jag financing world.
I am in the Chicago area. Has anyone seen this elsewhere? Even with the lousy residual, the lease payment is not too bad because the capital cost is so low. But I sure wish it was easier to compare all of the alternatives. Also, it does appear that US Bank is offering a Jag leasing program along with Chase - at least in this area.
But, then I noticed you were in Chicago... You'd have to pay the full sales tax twice, which would negate most, if not all, of your savings...
Not that familiar with Jaguar leases, but Volvo has the same sort of programs.... Massive incentives if you lease through a 3rd party, but not if you purchase. It really makes no sense to me.
regards,
kyfdx
Host-Prices Paid Forums
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
just wrapped up a lease on a 2009 prem lux with msrp of 58.5 k. i found the same issue as noted recently on this forum, they will not sell the car for anywhere close to the discount they will give you to lease it but the mf and residual suck. by far the best 2 prices i found were from patrick of fleetrates.com and jaguar of troy, michigan.
i am curious about the last post and buying out the lease at 6 months. i am in indiana. what would be involved in that process?
thanks
Assume that a vehicle is $50k on a purchase, but $45K for a lease.. If you buy it, you'll finance $53K ($50K + 6%tax) for 60 months @ 5% = $1000/mo.
If you lease it, assume a CAP cost of $46K (to account for acq.fee), You'll probably have a payment around $930/mo., including tax (just estimating).
After six months, you should have a buyout of around $42K (or less.. assuming some fees..). Adding tax, finance about $44,500 for 54 months.. for a payment of around $922/mo..
So, basically, you'll knock around $70-$75/mo. off the purchase cost over the five years.. You'll save the $5K incentive, but you'll be out the acquisition fee, and possibley some other transaction costs.. A net gain of around $4K.
This is a general description... you'd have to do the actual numbers to get a more accurate calculation.. Possible issues: Third-party bank lease... Can you pay off after six months with no penalty?
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
1. Jaguar picked up my last 2 payments on my existing S-Type lease as well as the disposition fee - total a little under $1,800.
2. The price paid for the XF Prem. Lux. was $47,850. After sales tax (on the entire purchase price upfront in Illinois), acquisition fee, title, and license, less $1,000 down, the payment is $857 (48 month, 12K miles, 30% residual, .0023 (i.e., 5.52%) money factor). This was offered through US Bank.
3. If I passed up the incentive discount in order to get better lease terms (through Chase I presume), the payment would have been higher. Assuming I could have purchased the car at $1,000 over invoice (invoice was $53,851) and kept the same money factor, the residual for a 48 month, 12K/year lease would have had to be 43% to keep the same payment. I have not seen that high of a residual for a 48 month 12K lease anywhere.
4. The quirky Illinois sales tax system also plays an important part in all of this since sales tax is paid upfront on the entire purchase price of the car (not just the portion used up during the lease term) and then again on the residual should you decide to buy it at the end of the lease term. So it is much better to have a low residual and low purchase price vs a high residual and high purchase price even if the payments are identical (i.e., the depreciable amount is the same). In my case, if I were to buy the car at the end of the lease, the sales tax savings in total would be close to $1,100.
Have had the car for a week. What a great ride! A significant upgrade over the S-Type that it replaces in the Jaguar lineup.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
How many of actually buy the car at the end of the lease? So who do you think eats the differance for what the bank says the car is worth and what it will acutally bring at auction?
I have been dealing with a Jaguar Sales Guide, who used to work for Saturn...yeah you know the one price store. Honesty...
She said that everyone she meets is so focused on the cap cast reduction and the residual, becuase they have been leasing for years and like most smart people, want to know where thier money is, but what no one gets is that all of those Denalis, Cadilacs, Yukons and other "gas guzzling" cars were leased and when the gas prices went up the vehicles were worth half.
I'm a nurse and I work hard for my money. I'll admit that I usually buy my cars and run them into the ground, then I got into leasing. Now I want to buy again and leasing the XF for 36months and then buying it at 2.9% finacing is a no brainer. That residual being so low makes the car worth buying.
I think that the problem is car sales people are scared and things are lean so if they don't take the time to explain things and help us through the changes, they fudge it and that is frustration.
MSRP 56,975.00
LEASE TERM 36 MONTHS
LEASE END VALUE % 39.00%
LEASE FACTOR 0.00212
INITIAL CAP COST 44,803.00
ACQ DOC ACC 840.00
TOTAL MILES 36k
MILAGE PENALTY RATE 0.18
LEASE END VALUE $ 22,220.00
CALIF TIRE FEE 8.75
LIC & REG 603.00
AMT DUE AT START 1479.74
BASE MONTHLY RATE 794.50
MONTHLY TAX @ 9.25% 73.49
TOTAL MONTHLY PAYMENT 867.99
Chase's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Jaguar XF Premium Luxury with 15,000 miles per year are .00023 and 51%, respectively. The numbers for an otherwise identical lease of an '09 XF Luxury are .00015 and 52%.
I believe that the 12,000 mile per year residual values for leases through Chase are 2% higher than its 15k residuals.
Chase's current 24 month, 15k buy rate lease money factor and residual value for the 2009 Jaguar XF Supercharged are .00015 and 55%.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
that is an ok rate for that lease. but you can get that car for those terms at 799/ month including the tax. i just did. if you are in the midwest call jaguar of troy michigan speak to russ. or nationally patrick with fleetrates.com will get it delivered to your house. also if you are coming off a current lease jaguar will pay up to 1500 dollars of your last 2 lease payments
also to car man that 24 month chase lease unfortunately does not have the same favorable cap cost reduction so despite the favorable residual and mf the starting cap cost they will give you on that lease is at least 6k higher than the us bank lease program. thus making that 24 month lease less favorable.
just my experiences in leasing/negotiating over the last 6 weeks with multiple dealers here in the midwest and also nationally
mike
grab33@yahoo.com
Would you mind sharing the details of your lease (particularly CAP Cost, Residual and Money factor). I'm in California, so the higher tax rate might be a factor here as well. Still it would be useful for me to compare terms, since you seem to have done quite a bit of research before buying. Thanks in advance for your help.
i am on vacation so i don't have the contract with me however, i leased a 2009 premium luxury xf for 39 months with 15k/yr. the msrp on the car was approx 58.5k. my payment is 799/month. this includes the tax in indiana which is 7% paid on each monthly payment so the actual monthly is about 740 before tax. out of pocket was the first month, the acq fee which was 799 and some title/doc fees the total was approx 1800. i did get back 1500 for my last 2 payments from jaguar. i hope this helps. i would strongly encourage you to call patrick teague at fleetrates.com. although i ended up getting the car from the dealer he was able to get me the best price by far and can get cars anywhere in the country. if you need more info email me.
mike
39month, taxes fees paid upfront
MSRP: $50,775
Purchase price: $38,217
Residual: 37%
Money Factor: .00247
US Bank fee: $895
monthly lease payment $644
I was looking at a 2009 Luxury Premium with the Bowers and Wilkins and Spice packages. MSRP is 60,350 and Edumunds has the invoice just under 54k
I was told Jaguar is offering around 10K lease cash & was offered the following
Based on a price of 46,000
48 months
12k/yr
16,898 residual
9000 down payment
599 + tax/month
Never having leased before and not going into the dealership with that in mind , I didn't really know what questions to be asking
is this a good deal? and what questions should I be bringing up?
Thanks
Jerry
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
48mos/15kmiles/yr
MSRP: 58,825
Neg Price: 46,956
MF: .00214
Residual: 27% End Value $15,882
$808 monthly incl tt&l
no money down
Good deal? Residual on this deal is horrible. Any room to work a better deal?
15k miles
No cost cap reduction
XF - $1,063/Mos
E350 - $840/Mos (I'm still working them over a little and expect to get this down below $800
535xDrive - $778/Mos
The residual along with money factors are horrible on the Jag. I don't have those numbers in front of me right now but will post them later.
Good Luck
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Any input is appreciated.
Good luck if you move forward. Maybe waiting until X-mas time will be a better deal.
Itemization of Payment
Agreed Value: 59,950.00
a) Gross Capital Cost 61,257.00
b) Capital Cost Reduction -2,878.40
c) Adjusted Capital Cost 58,378.60
d) Residual 31,720.00
e) Depreciation Charge 26,658.60
f) Rent Charge 7,006.08
g) Total of base MP 33,664.68
h) Lease Term 36
i) Base MP 935.13
j) Monthly Tax 28.05
k) Personal Prop Tax 0.00
l) Excise Tax 0.00
m) Other Amounts 0.00
n) Total MP 963.18
Itemization of Gross Capital Cost
a) Agreed Value: 59,950.00
b) AcquisitionFee 795.00
c) GAP Insurance 0.00
d) Document Fee 0.00
e) Warranty 0.00
f) Upfront Sales Tax 0.00
g) Service Tax 0.00
h) Cash Down Tax 0.00
i) Trade In Tax 0.00
j) Finance Tax 0.00
k) Tire Tax 0.00
l) Lic., Insp., Title, Reg. Fees 0.00
m) Other Fees 512.00
n) Total Capital Cost 58,378.60
Itemization of Amount Due at Signing
a) Total Capital Cost Reduction 2,878.40
-Cap Reduction (Cash) 2,878.40
-Rebates 0.00
-Trade-In 0.00
b) Tax on Capital Cost Red. 88.42
c) First Monthly Payment 963.18
d) Last Monthly Payment(s) 0.00
e) Refundable Security Deposit 0.00
f) Acquisition Fee 0.00
g) Gap Insurance 0.00
h) Documentation Fee 0.00
i) Monthly Tax (Upfront) 0.00
j) Upfront Tax (not in Capital Cost) 0.00
k) Service Tax (not in Capital Cost) 0.00
l) Tire Tax (not in Capital Cost) 0.00
m) Lic., Insp., Title, Reg. Fees 69.00
n) Other Fees 0.00
o) Total Due at Signing 3,999.00
How the Amount Due at Signing will be Paid
a) Net Trade-In Value 0.00
b) Rebates/Credits 0.00
c) Amount Paid in Cash 3,999.00
d) Total Due at Signing 3,999.00
Mileage Allowance
The monthly payment and residual for this lease has been calculated using the following mileage allowance. You are allowed to drive 12,000 per year, 1,000 miles per month. If you exceed the mileage allowance for the lease term and do not purchase the Vehicle, you will pay 0.30 for each excess mile.
Chase's (Jag is running its specials through them now) October buy rate lease money factor and residual value for a 36 month lease of a base 2010 XF with 15,000 miles per year are .00164 and 49%, respectively.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I am interested in leasing an XF (don't know which model) for 36 months and don't intend to keep the car after that. Jaguar appears to offer nationally a 36 month lease offer until the end of the month: $599 per mo, 10,000 miles per year, up to 30K miles, overage 30cents per mile, but $5,393 at signing, plus tax title fees--, or an XF Premium for $699 per month. Why is no one mentioning this offer? Does the $5393 make this a bad deal? (it is broken down to $795 acquisition fee and first months's payment and $3999 down).
Lease a 2010 Jaguar XF Luxury for $599*/mo
36 Month Lease. 10,000 Miles per Year. $3,995* Cap Cost Down. MSRP: $52,000.
- or -
Lease a 2010 Jaguar XF Luxury for $699*/mo
42 Month Lease. 10,000 Miles per Year. $0* Cap Cost Down. MSRP: $52,000.
It is for the base model. The latter is a little it cheaper but is for a longer period (3.5 years vs. 3 years). The rule is "no money down" on a lease. So the 36 moths lease should be done as $0 Cap Cost too and will end up being about $720 per month.
$679 per month; 3 1/2 yrs; only bank fee of $975, first month payment plus tax, and tag and title fees due at start. Residual value is 47% of $52,000 ( full sticker price), allowance of 10,000 miles per year, .30 per mile additional, interest rate 4 1/3%, assumed price for calculation is invoice price plus 3%.
Sergey, what do you think about this? Thanks for your advice.
I am looking at leasing the XF Premium MSRP of $57K for 3 years / 30K miles.
They are currently advertising a $699/ month payment and $4000 down. Which equates to 810/ month as I know you don't put money down on a lease.
All thoughts are welcome.
Thanks.
Chase's October buy rate lease money factor and residual value for a 36 month lease of a 2010 XF Supercharged with 15,000 miles per year are .00276 and 51%, respectively.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
What is the residual and money factor for this car?
Is a cap cost of 1k above invoice reasonable?
Thanks
I personally think that $1,000 over invoice is a reasonable selling price for this car, but dealers in your area might think otherwise
Good luck and make sure to let us know how everything turns out.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Jaguar is advertising a new lease deal on the XF Premium of $699 a month (with $3,999 down). Can you, please provide the residual and money factor details for this program? I'm also interested in how the residual changes for a 12K miles per year selection.
Thank you.