Hello all,

Backstory is I just recently purchased a 2017 base v6 f type base about two months ago. I just recently came across a beautiful irr f type-r with some great options which is making me second guess myself. I tell myself that I’m satisfied with my v6 which is already tuned and pulley but the v8 is still in the back of my mind. That being said the car costs a little more than I paid for the base v6, given that the v8 is a 2015. I already know it’s not a smart idea BUT I’ll ask anyway, how doable would a trade in of the v6 f type and some cash do with getting the v8, would the bank even consider it or shut down The request just because of how recent the purchase was (the v6 was through jaguar financial which is underwritten by chase which is my main bank)

 

I doubt a bank would turn down an opportunity to make more money from you, but I'm not familiar with the US banking system.

 

You never know until you ask. My opinion is that you should get the v8 unless you want a manual. Otherwise you will always be wanting more power.

 

No one has ever regretted getting more power. I did the same thing. The 2015 R is the best Jag of all time.

 

 

Come on, getting a V8 won't stop you wanting more power!

 

You'll never regret having the V8, justanurse, and if the numbers work for your budget, you should make the upgrade. Have you driven a V8? As to the banking, the old banker in me says...."the best things in life are fees!"

 

I would do it more for the engine note and quad pipes than the power that I never really get to use, but what had prevented me from going down that path was the infotainment which I had in a previous XF and didnt like. If that is important to you, then it might be hard going back. But an IRR RWD R would be mightily tempting...

 

Very true, I will be Monday morning if it’s still there I’ll be test driving after I get off my night shift at the hospital so hopefully the speed smacks me in the face lol, but aside from that, I’ve never traded in a car so I’m not really sure how it works, I’m okay with sharing figures so: I took a loan from jaguar/chase financial for 42000$ for the 2017 V6 2 months ago and have paid 2k off of it, the price before fees and Negotiation of this type r is $42988, what happens to the old loan if I manage to get approved for it?

 

Basically, when you trade the car in, the dealer will give you XXXXXX for the car. If those X's are less than the payoff of the loan, then you either pay that out of pocket or you refinance that into the new load for the new car. Using some some basic numbers.. If your current loan payoff today would be 43,000, if the dealer gives you 40,000 for the trade in then you have to account for $3000 somehow (various ways to do it... i.e. increasing the cost of the new car by $3000 so the dealer gives you $3000 more on your trade in.. net it's the same but works out differently.. paying the $3000 in cash... etc...).

 

thank you for the long explanation that’s kinda what I’m worried about, I’m not sure how much under water the v6 purchase 2 months ago was cause it was originally 35,999 but after dealer fees and other stuff I ended up at 42k, cars is still very good condition and I put like 1k miles on it. anybody have an idea of how bad the roll into the next loan Is gonna be? Or ballpark, I capped myself at 4K/5k down plus this car, if they can’t make it work with that then it’s a no go

 

i would be shocked if they give you much over 30k for your car. You can cap your down, but that will just mean bigger payments. If you have a 42k loan and have paid off 2k, my best guess is that you will be 10k in the hole if you trade in this car. If you have money to blow, go ahead. If not, I would just keep your car.

 

thisbis like exactly what I was thinking cause I just kbb mine, lol even if they approved it it would bring the new loan to like 52k, which is okay but then I gotta see if it’s worth it, I dunno I got nothing to lose by just hearing them out to see how bad they wanna sell, but hey if it’s not for me it’s not for me, thanks for everybody’s insight

 

You'd save a lot of money being patient and just selling it privately. Just because you saw a car you liked doesn't mean you won't be able to buy It or something similar in 2 or 3 months.

 

Nothing sexier then IRR. Just saying Best of luck in your decision. Don’t allow your emotions to drive your decisions! Cars are the worst investments one can make ( few exceptions ) the 15’ R RWD will be one of them down the road IMO. Lol

 

In 17, I went with the R. I knew that with a V6, I would start tuning and doing mods right away to get it closer to the V8. I"ve never looked back, and the OEM tune on the V8 is just fine thank you :-) It's a thrilling ride.
CRS

 

IRR is the cat’s meow

 

The majority of the damage will come from the difference between your trade in value and your original purchase price, plus any fees you paid. Tax can also be an issue if you don't trade in the car to the dealer you are buying the new R from.

My rough math suggests you will be looking at ~$7000 net loss and you can evaluate if your desire to get the v8 is bigger than that 7k cash.

Do note that the 2015 R is RWD, make sure that is what you want.

 

Thanks for the info, the other thing is I’m trying to to see the true value of the V8 car that they’re offering, I KBB’d it at around 36-40k$ for the mileage (34k) and etc. but the car does also have the carbon fiber wheels, is 42k$a little more than desired for the spec it also looks like the inside has some scratches and sticky buttons

 

The value is as much as they are willing to sell it for, kbb is irrelevant, options usually doesn't add much to a used car's value much, desirable option does make them sell faster though.

There are 2 f type r with 33k and 34k miles going for 47k on carmax, ones with less than 10k miles goes for around 50k on cargurus.