Hello,
I am newbie, I need some suggestion ore recommendation in regards to a lease of F type R 2016 MSRP 110k.
The option was given by local dealer is 3k down ( including first payment tax and license) 1100 per month.
I haven't had the chance to sit down and bring down monthly payment.
Do you guys think 900 including tax is doable ?
I know that's little too low but I have to start somewhere.
please let know if I should keep pushing it or what is a doable lease on F type R with MSRP 1110K

 

3k down and 1100 a month including taxes and fees? Is that what they offered, or did you bring it down to this?
Seems like a very good deal already. 900 and you should be serving time for grand larceny.

 

10k per year? Probably doesn't include tax.

 

Welcome to the forum. I suggest trying to get some info on leasing in addition to what you learn here. There are many ways to structure a lease and monthly payment can vary significantly based on terms. When I was looking to lease I found the ridewtihg.com website useful. They have a leasing 101 tab that is helpful and a calculator. I don't endorse it, other than it is informative and I haven't used it in a while. There is a lot of helpful sites like that one.

 

How many months? How many miles? What state are you in? Does the $1100 include tax (often they quote it w/o tax)?

 

I have specific numbers posted in another thread, and several people have included theirs. Search is good, search is great.

Overall, the deal you quoted seems pretty good if the numbers check out (miles, money factor, residual). At that pricing I'd expect something closer to 5K miles a year. Are you sure he said 1100 or did he mean "in the 11s" aka 1199? I don't think $900 a month is happening on a 2016.

 

I was quoted for 1097 plus tax. it's 7500 miles per year.
I will be returning the car after 3 years. I don't drive much. I have a lexus 2013 purchased in 2012 and driven total of 10K miles LOL. What do you guys think can be doable 950 including tax that's my target.

 

Hello the lease term is for 33 months, 7500 miles per year and I am in CA. $1097 tax excluded.

I am looking to pay around $950 including tax.
This the deal offered to me with no bargain so I think I have some room to lower monthly payment from $1097 to as low as I could.

 

To go down from $1097 to $950, you're looking at roughly a $5k reduction in negotiated price with same mileage.

 

I will try to push as much as I can and see if It's a doable deal.

 

Let's see... if your target is $950/mo including taxes, you're looking at around $865/mo or so before taxes. With those restrictions, you're more in the V6 price range, rather than V8. With that payment, you're probably looking at a car in the $70,000 to $75,000 range. You could negotiate down from a higher MSRP (or offer a trade-in/down payment) and get a bit more range of course.

I just ran some numbers to get a ballpark on this, and if we use the same lease terms as the 2015 V6S that was recently posted (0.00188 money factor, 67% residual) you're looking at a principal value of roughly $70,500 ($47,235 residual) before origination, registration, or doc fees. A slightly better money factor may be possible if you have exceptional credit and are looking at a late model vehicle, but you're probably looking at a difference in payments of less than $50/mo.

You should be able to negotiate a low-optioned 2016 V6S in that range if you push hard (base MSRP $77,300), however given the discounts on 2014 and 2015 you'd probably be better off looking for a well optioned 2015 V6S in that range. You might even be able to find a 2014 V8S that has been sitting on the floor a while if you're lucky.

 

I'm pretty sure you can't lease a 2014 at this point.
Overall, your calculations may be correct, but they don't take onto account dealer magic. It's that stuff they do to suddenly disappear financial boundaries when they really want to sell a car. Logically, he shouldn't be able to get the 2016 R with an MSRP of 110k for a total cost of (3k+ 1.1*33)=42300. That seems to be just the depreciation with no profit to the dealer or jaguar/chase.

 

Hey, go for it. If they say no, you can try this strategy my friend does. He walks away. Then comes back, just as prepared to walk away a second, third, and nth time. Eventually, usually, they give in.
Btw, if knew it was 1100+tax, then I would have recommended bringing it down anyways. I think of you get 1050 including tax, you can take it knowing you got one of the best deals around. Unless it's a demo car. SoCal dealers do that. Put them as demos without ever driving them. That would change things.
Either way though, we expect a full report...

 

If a 2014 car is still on the lot and has never been sold/registered, I believe it is still possible to get a lease (the limit is usually 2-3 years.)

Penfed was still offering "new" payment saver loans on new 2014 MY until last month I believe. They still offer "used" payment saver loans on 2014 MY though. Either way that is a lease alternative if the factory lease isn't an option... lower interest rate but taxes up front.

As for "dealer magic" the floor price on a lease is going to be based on principal value and the lease factor (which is set by the finance company or bank's risk assessment.) Nothing the dealer can do will lower that floor price, other than reducing the principal by lowering the price of the vehicle.

Some dealerships automatically add points to the lease factor to make a bit more profit, so their finance team can back those out to make a deal work. But that is generally all they can do with financing without shopping it around to other finance companies to try to get a better rate.

In any case, nobody offers leases at 0.0 money factor though, so I don't see how anyone is going to get a lease just on depreciation alone. You can sometimes get 0% on a loan due to factory financing to move vehicles, but I've never seen that on a lease.

 

You know more about it than I do.
I just found that after calculating everything and finding the lowest possible price, someone can talk the dealer into a better deal. I'm not sure if they're dropping fees, or just discounting it far below invoice, but when they want to move a car, they make it happen.

 

I have bought few of my cars doing that strategy and always worked. I first convince them that I am serious shopper and once they don't agree on the deal I am offering I walk away. Many times they had come after me ( Lexus, infiniti) and offered the deal I've been asking for. I am just new for Jaguar market and I am not sure how flexible they are. It might be demo with no miles on it. I believe they get incentives from the factory.

 

What is the selling price of the car?

The dealer has no control over the residual. They are set in stone based on term and mileage.

If you can get the lease term sheet and post it here you will get some good advice. Need to see cap cost, money factor and what's being rolled in up front.

In general, money down on any lease isn't the best idea. It's simply a prepayment of some of the lease charges.

 

Cool.
And yeah, they get huge incentives. In the tens of thousands I think.

 

I don't have the lease term sheet yet, we worked over text message. The MSRP is 110K.

 

They can get quite a bit ... it depends on how badly they want to sell the car.

I think the deal they are offering to you looks pretty solid for a 2016 and being relatively early in the model year. The car is discounted in the ~$19k-$20k range - if the MF I have is still correct. For comparison, my 2015 R was discounted about $22k in March at the end of the model year.