Cheaper to buy or lease 2011 XKR?
#1
03-25-2011, 01:14 AM
Cheaper to buy or lease 2011 XKR?
Hi all,
For those of you who are more dollar-minded, I'm wondering which method would save more money - leasing, or outright buying (assuming the car is kept for 5 years), bearing in mind the FBT. Have any of you been down this path before? If so, what decision did you make? If not, do any of you have data that would enable me to make an informed decision, or opinions to be considered? And also - for those XKR owners out there - would you be comfortable keeping the Jag for more than the usual 5 years (as with BMWs, Benzs etc which start showing their age around then and begin to require more maintenance)?
Thanks in advance for any input
Jeremy
For those of you who are more dollar-minded, I'm wondering which method would save more money - leasing, or outright buying (assuming the car is kept for 5 years), bearing in mind the FBT. Have any of you been down this path before? If so, what decision did you make? If not, do any of you have data that would enable me to make an informed decision, or opinions to be considered? And also - for those XKR owners out there - would you be comfortable keeping the Jag for more than the usual 5 years (as with BMWs, Benzs etc which start showing their age around then and begin to require more maintenance)?
Thanks in advance for any input
Jeremy
#3
08-17-2011, 07:20 AM
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Hi Jeremy,
I own a 2000 XKR convertible and I am keen to update to the "new" shape i.e. a 2006-07 XKR which would currently set me back $130,000-$150,000 here in Australia. Unfortunately, the depreciation is savage (approx 50% every 4 years, and it doesn't seem to slow down as the car ages). So, I considered leasing, thinking it might be cheaper to lease a late model XKR (say, 2010 or even the current model) and then not have all the hassles of trying to sell a car further down the track. I spent some time on the net looking at leasing costs and mileage costs (you pay a premium rate for mileage in excess of the rather limited standard provided for in the leasing plan) and I came to the conclusion that the costs over 3 or 5 years would be just as bad as the depreciation on a car you actually owned. I guess common sense also tells me that if it was an appreciably cheaper way of enjoying such a car, a lot more people would do it. Note that my comments are based on leasing a car as a private individual and not making any leasing tax claims through a company - I don't know what is possible on that score. Finally, I found very few automobile lease companies which actually had XKRs on their books for lease!
Hope my comments provide a little more perspective; others may have a different view about the lease option and I would be equally interested in further input on this matter.
Cheers,
Rod (Melbourne, Australia)
I own a 2000 XKR convertible and I am keen to update to the "new" shape i.e. a 2006-07 XKR which would currently set me back $130,000-$150,000 here in Australia. Unfortunately, the depreciation is savage (approx 50% every 4 years, and it doesn't seem to slow down as the car ages). So, I considered leasing, thinking it might be cheaper to lease a late model XKR (say, 2010 or even the current model) and then not have all the hassles of trying to sell a car further down the track. I spent some time on the net looking at leasing costs and mileage costs (you pay a premium rate for mileage in excess of the rather limited standard provided for in the leasing plan) and I came to the conclusion that the costs over 3 or 5 years would be just as bad as the depreciation on a car you actually owned. I guess common sense also tells me that if it was an appreciably cheaper way of enjoying such a car, a lot more people would do it. Note that my comments are based on leasing a car as a private individual and not making any leasing tax claims through a company - I don't know what is possible on that score. Finally, I found very few automobile lease companies which actually had XKRs on their books for lease!
Hope my comments provide a little more perspective; others may have a different view about the lease option and I would be equally interested in further input on this matter.
Cheers,
Rod (Melbourne, Australia)
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