Curious if anyone has leased a new 2011 XJ. What deals does Jag offer on leases? Looking at a BMW 750iL at around $1,100/month, 36 months, 0 down. How does Jag compare?

Thanks in advance!
Twotone

 

I purchased outright. While cash flow friendly, the lease rates in late Novemeber were not that good, IMO. Besides, I did not want to be concerned about mile limitations, etc. Even if you need to finance a purchase rather than paying cash outright, the current 1.9% APR promotion is not bad.

 

I looked at Jaguar's lease options when I got mine in June--at the time their 3 year residual was 55%, which isn't bad, but their money factor was not that good. I usually prefer to lease my car since I use it for business and can write off the payments, but it's sure hard to justify any type of financing these days when you can't earn anything to speak of on idle cash, so I bought mine outright too.

 

nope but have thought about it. I think at the end of the day when you trade one in it is a wash either way.

 

3 year lease - lease factor was not good but I don't expect to keep the car for more than the lease period. Leasing came in under an S550 or 750.

 

Here's a lease offer I got from a Denver Jag dealer on a 2011 XJL. Lease is 36 months, 12,000 miles/year, no money down, no trade in. Just wondering how it compares to other offers.

MSRP $80,575
Cap Cost $75,600
Residual 53%
Monthly payment $1,383 (including fees and taxes)

[edit] money factor: 0.00281

Anyone else have numbers to compare?

Thanks in advance!
Twotone

 

That's not a great lease deal. Compared to other XJL lease deals I have no idea, but just based on lease price for the cost of the vehicle...the money factor must be pretty high. What money factor did you get? Multiply by 2400 and that's your interest rate. 53% residual is excellent in this market, which makes the lease price even more askew. A good lease price on a $80k vehicle (sticker, not purchase price) would be in the $900/mo range.

 

How do you get from a $80,575 MSRP to a $75,600 cap cost? The cap cost is MSRP - discount + sales tax + acquisition cost. You would have to be getting a whopper discount off MSRP to about $71,000 to get to that number. If they are giving you that big of a discount, they are making up for it with about a 0.004 money factor, which is 9.6%. Those numbers really don't equate.

Like Kid Delicious said, this is not a good deal. However, I don't think it is possible to get a $900/month rate on an $80K MSRP car with a 53% residual even if you could get a 5% discount. The depreciation component of the lease payment, which is (cap cost - residual value) / lease term, would be more than that before even adding in the financing component.

 

I don't know if the $900/mo deals are out there, but I do know 100% certain that about 1 1/2 years ago I was offered a brand new E63 for just under $900/mo with nothing down on a 36 month lease. Every now and again these companies can run some crazy specials. They bump up residual, offer a super-low money factor, and discount the purchase price...and voila...$900/mo. Keep in mind that the E63 had a sticker in the high $80's as well. So, the deal can be had. It's a timing issue, and if you play the game right, and you're patient, you can really walk away with a fantastic deal that is FAR less expensive that purchasing a car outright.

If I hear of any actual lease numbers, I'll let you know.

 

A lot has happened in the car industry in the last 1 1/2 years. All of the great lease deals have gone by the wayside because the manufacturers were just subsidizing their sales with unrealistically high residuals and ridiculously low money factors, so when the cars were turned in the residuals were no where near the actual value of the cars and the manufacturers had to unload them at a huge loss. They have since wised up.

That doesn't mean that occasionally you can run across a special deal, but that's usually on a car a dealer wants to move, not a brand new model that's in demand like the new XJ.

 

The current advertised lease for the xj is $899.00 a month, 42 MONTH LEASE, $5,693 DUE AT SIGNING + TAX, TITLE, FEES & $0 SECURITY DEPOSIT

 

Which means you'd write a check for about $11K here in Texas before your first payment. I'm talking about leases with $0 due at signing where everything is rolled into the lease.

 

That's quite a bit better than two-tone's deal, assuming it's the base model pricing, as his was. Course it's a little longer, but the monthly numbers are a couple hundred less, even if you factor in an 8% tax or so.

HTJ, I agree that most of those deals are a thing of the past, but you never know...all about being at the right place at the right time. Don't kid yourself that the XJ is in high demand though. All relative...maybe high demand by this market's standards, but demand for these and all other cars is WAY below historical averages. They're trying to keep production low to accommodate the lower demand, but ultimately they will work as hard to sell a car as they ever have. I bought a XJL Supersport below invoice...and that's a special order car.

The market is still awful...absolutely awful, and there are deals to be had if you do your homework. If a dealer ever tells you that they aren't doing much of a discount because the car is in high demand....run, don't walk to the nearest exit. Only caveat is that Jaguar has a territorial network of dealers, so in some areas you might actually be stuck buying from your local dealer, and remote dealers will not be allowed to sell you a car. Bizarre strategy, but true.

 

That's amazing that they sold you a special order Supersport below invoice--I sure don't know why they would do that. I went to each of the 3 Jaguar dealers in Houston back in April to see how much they would sell me one of their initial batch of XJ's already on order (I didn't want to wait and order one) and 2 of them would not discount at all and the 3rd one would only come off $1,500. Fortunately, that was the dealer that had a car coming in with the color combination I wanted, so I took the deal. Maybe I got hosed because I had to be the first kid on the block with one, but this dealer tells me that they are currently selling every XJ they get in. I guess the car business must be better in Houston than elsewhere.

 

The cap cost is MSRP - discount + sales tax + acquisition cost

It is not necessary true in all states. In California, sales tax are assessed on the car payment every month and not on the value of the car. In some other state, sales tax are based on the sales price of the car and pay upfront. And you can either roll into the lease or pay separately..

 

Thanks--didn't know that. In Texas, you can either roll the sales tax into the cap cost or pay it up front, but the payments do not get taxed. Makes comparing lease payments from state to state a challenge.