Lease details and car in photo.

Should I hold out for a better deal or hit the drawing board and contact some new dealerships...?

 

Thats a good deal. You're under invoice. I'm not surprised. This car has a build date of around 8/2015.

 

Depends where you are, people have gotten better deals in California.
They can almost always do significantly better than the advertised deal, so I would be very aggressive unless it's exactly the car I want and don't want to risk losing it.

 

A Doc Fee of $550 is pretty damn high. And what are non-tax fees?

 

The real negative is that it is a $87k car the second it leaves the lot. Nature of the beast with these though.

 

Does the car have any miles? Has warranty started?

 

Not a good deal IMO. I picked mine up in December and paid a bit less. Now that the 17s are out I'd expect a MUCH larger discount.

 

I think the discount could be better. Make sure to check if warranty started. I'm not a leasing expert but maybe others can chime in. What's in the down payment? Are taxes included. Ridewithg.com has a lease calculator that rates lease deals, if you have all the info.

 

The car has 7 miles. So it's not one of those dealer demo's that people are snagging up in the mid 80k's.

I'm not sure if the warranty has started, but as I'm going for the 3 year lease and not a buy I don't know that this would effect negotiations... Might as well bring it up anyways.

I still think there's room for negotiation, and I'm stalling and seeking other options to make this a reality, but realistically I don't think this particular dealership is going to drop the price more than another $3k.

Additionally, I do think that it will be snagged up...

Sadly, the thing is spec'd out pretty damn close to what I want exactly. Maybe swap the carbon wheel's for the Gyrodyne's, but aside from that, it looks like a lovable exciting street beast.

Even though this deal isn't HORRIBLE, I always try to avoid auto-deals in this particular state due to their hard-line MSRP BS... I suppose this is what I should expect.

 

I agree, I'm hoping for a better discount as the days go by.

$2400 cash down for 10k miles per yr @1070 per/mo.

I'd love to see a payment in the 900's, with no money down. I'd be on my way to snag it now.

 

The reason I ask if the warranty has started, because if it has the dealer has purchased the car from Jaguar. Not sure if they can lease that type of car, but you would think so. If they have purchased should be an additional 3-5k discount available.I liked the carbon wheels when I was shopping. They are more money then others.

 

They can lease it even if the warranty has started.

 

Got them down to 1017/mo for 33 months with a $2300 downpayment/drive off fee.

Then, supposedly, after my credit check, things changed...

They then wanted $7500 down, and $867/mo for the 33 month, supposedly based off the fact that I haven't gone for a new car in 5 years and that "the bank wanted more of a commitment."

^I think this has been absolute BS posturing by the dealership. Even though I was told that the math checked out to be equivalent, it ended up being $400 more tacked on to the price at this new "amazing" down-payment and $867/mo lease plan.

I have absolutely immaculate credit, have never missed a bill in my life, score is well over 740 (documented), submitted my tax returns, have double the cars price liquid (cash) in my bank, decent assets, good net worth, and have high consistent income...

I'm using a leasing broker, at which point, I told them, how is it possible that Chase Bank asked for an extra $5k+ down when I have a great relationship with Chase already and get high $ offers from them constantly? (I also come from a financial family, so I'm not completely speaking out of my *** here)

The broker then replied saying the dealership declined my offer, and the car was sold... Going to check MYSELF through various ways if that is actually the case today...

Needless to say, I'm not pleased, but there are other fish out there in the sea, and I'd rather not drive the car at all, than drive around in an F-Type R feeling like I received a garbage deal for the next 2-3 years.

Does anyone have any opinion on what might have happened?

Honestly, I wish I would have taken a more hands on approach as my car negotiation skills are quite good... However, being that it is my first lease deal, I decided to go with a broker - and man, am I regretting this. It's less hands-on with your private personal information, with response from the dealership, the bank, etc., This is all while BEING more hands-on having to deal with a broker who wants to call you for every 5 sentence report of the car-deal status when I've specifically said that I operate best through email due to my daily work schedule.

I'm extremely curious to know why Chase bank would want an additional $5000 down, or if it was the dealership BS'ing. Trust me when I say my credit is FIRMLY intact...

I'm also considering cutting my losses with the leasing broker and going after this one on my own.

Any thoughts towards the situation overall would be appreciated. Yesterday when I heard this news I was quite neutral, waking up this morning - I'm quite pissed. Frankly, typing this has been a small therapy.

On to the next...

 

Clearly your broker is an irritation and does not seem to want to warm your heart. Get rid of him and do it yourself.


Larry

 

Agreed with Larry. This is one of the things that may be best handled yourself.

Also, and this is totally irrelevant to your question, but you may want to reconsider keeping $200k cash around. That's a lot of money (in an absolute sense, perhaps not a relative sense to some) to not be earning any returns.

 

It appears that the bank was not comfortable with the ability of your monthly compensation to cover the the larger monthly payment in addition to your other monthly commitments. That's why they changed the deal to a higher down-payment and lower monthly payments. (The dealer has nothing to do with this.) To you it may seem plenty, but they apply fixed ratio limits on recurring debt service to limit their risk.

 

That seems kinda crappy that they would do that... I mean Chase is going to do what they are going to do and we can't change that but I can't personally bring myself to put THAT much into a lease. I mean, all in all... it's not that much money but I prefer $0 cap cost reduction (The only drive offs I pay are the fees + 1st month), which I think came out to like $2,1xx for the F-type R I just leased.

Does seem a little strange that they should come back with a much higher down payment especially if you met the 730+ CR and have had previous car leases / purchases on your credit. Normally those types of lease down payments are reserved for people with crappy credit, in my experience of course.

 

Well, I found out it did indeed sell.

I still do not know if it was the dealership posturing because they had another buyer pending, or Chase bank asking for the exorbitant down-payment and sudden change in expected lease terms. Perhaps it could indeed be because I have never leased a car, only bought?

I'll find out and report truthful results once I go after my next F-Type R lease deal as I believe they all use Chase bank. I'm aggressively searching, so I'll continue updating my finds in this thread. If I end up with a ridiculous drive-off fee at each place I take a stab at, then at least we'll know it's something wrong with me, and not the dealer(s).

Shame as I really liked that build, but oh well.


Without going into full financial disclosure mode, I assure you that it is not possible that this is the case.

 

What area are you looking in? There have been some awesome deals down here in South Cali

 

It's unlikely to be because you never leased a car before. The first time I did a lease was a few years ago and I had no problems with $0 drive off even though I'd never even had a car payment before.

If you have a particular build you like, why not find a dealer you like and trust and have them get you the exact car you want? That's what I did. Dealers are capable of trading with other dealers or pulling from inventory that sits at the port.