[JohnnyLightning]

I am in the US. I have an Fpace with 8 months left on the lease. I am going to buy the car. When you get inside of 6 months remaining you have to talk to Jaguar instead of chase. I am trying to find out the difference. Chase makes it sounds easy to buy it now. The hold time for Jaguar is 40 minutes. I want to make sure buying it the end does not require a visit to a Jaguar dealer. Does anyone know how purchasing it at the end works with Jaguar?

 

[kr16]

You have to read the contract. It is usually clearly written out with a buy back price

 

[JohnnyLightning]

well, I didnt mean the money. Yeah, I can read that. But I meant how does the change over happen. Since there seems to be a difference of who you pay if you buy the car 180 days from lease end or 181 days from lease end. If you buy it soon you talk to chase, if you buy it at the end you talk to Jaguar. The "procedure" is not in the contract. I dont want to hear anything about you need to visit a jag dealer to complete the purchase or anything like that. So I wanted to see how it actually works.

 

[kr16]

Got ya, it is usually easy. Surprised its not written in the contract. From past experiences on leases, on lease end it gets inspected and it goes to the dealer for that. Probably better to buy it sooner than at the end. Hopefully you can negotiate any lease end fees or other stuff that may be in the contract for that. Hopefully you can avoid all that crap and hassle. Good luck

 

[Slam08]

Not sure how Jaguar works. But in a previous Lexus lease I bought it out online or mail. Didn’t have to go to a dealer, didn’t have to do an inspection (don’t know why they would want one, tbh)

Interesting that you want to avoid the dealer so much…

 

[JohnnyLightning]

Interesting that you want to avoid the dealer so much…

Buying a Jaguar was the worst car buying experience I have ever had. I got to closing with 3 other dealers before walking away. Each time mystery fees and add ons appeared that added thousands to the price. Even the dealer that I ordered the car from tried to change the money factor from .0007 to .007 that added 6,000 to the cost and it wasn't till I was leaving he went back to what I had agreed to. I will never set foot in a Jaguar showroom again. I assume since they sell fewer cars than the big brands they try to get every last dollar from the customers they do have. Which I do understand. It was all the trying to sneak things by me that pissed me off.

 

[cbrehman]

well, I didnt mean the money. Yeah, I can read that. But I meant how does the change over happen. Since there seems to be a difference of who you pay if you buy the car 180 days from lease end or 181 days from lease end. If you buy it soon you talk to chase, if you buy it at the end you talk to Jaguar. The "procedure" is not in the contract. I dont want to hear anything about you need to visit a jag dealer to complete the purchase or anything like that. So I wanted to see how it actually works.

You shouldn;t have to talk to anyone different. Just call them for a payoff, the go to whatever bank you want and get the loan. My credit union handled most of the paperwork for me.

 

[JohnnyLightning]

You shouldn;t have to talk to anyone different. Just call them for a payoff, the go to whatever bank you want and get the loan. My credit union handled most of the paperwork for me.

The Chase website said that inside of 6 months you have to talk to Jaguar. I am determined to NEVER set foot in a Jaguar showroom again. So here is how it went for me. When I called the number for Chase someone answered, when I called the number for Jaguar inside of 6 months it was a 70 minute wait. Both people say they worked for chase. I decided that I would just pay the car off 8 months early rather than have another Jaguar purchase experience. Chase was very unclear on what they wanted to buy the lease out. They just said when they got the required forms they would send me the title. So when I asked what forms I got unclear answers. So I put an odometer statement that I got for the states website and a check for 60K in fedex envelope. They got the envelope. They sat on it for 11 days. The lease vanished from my chase online account. A few days later the check cleared my account. A week later I got the title and a bill of sale in the regular mail. I walked into the Florida DMV with what I got and paid about 130 bucks walked out with the title in my name. The check that I sent in was all the remaining payments and the buy out number listed on my lease plus sales tax. It wasn't really painful at all. If it wasn't for my initial Jaguar "everyone is going to try to screw you" with made up ad ons experience it would have been easy and stress free.

 

[cbrehman]

The Chase website said that inside of 6 months you have to talk to Jaguar. I am determined to NEVER set foot in a Jaguar showroom again. So here is how it went for me. When I called the number for Chase someone answered, when I called the number for Jaguar inside of 6 months it was a 70 minute wait. Both people say they worked for chase. I decided that I would just pay the car off 8 months early rather than have another Jaguar purchase experience. Chase was very unclear on what they wanted to buy the lease out. They just said when they got the required forms they would send me the title. So when I asked what forms I got unclear answers. So I put an odometer statement that I got for the states website and a check for 60K in fedex envelope. They got the envelope. They sat on it for 11 days. The lease vanished from my chase online account. A few days later the check cleared my account. A week later I got the title and a bill of sale in the regular mail. I walked into the Florida DMV with what I got and paid about 130 bucks walked out with the title in my name. The check that I sent in was all the remaining payments and the buy out number listed on my lease plus sales tax. It wasn't really painful at all. If it wasn't for my initial Jaguar "everyone is going to try to screw you" with made up ad ons experience it would have been easy and stress free.

Yeah, the only time you should have to talk to the car company is if you're turning in the car. For a buyout, it's between you and the bank, Glad you got it resolved, and yes, it's hard to say whether Jaguar corporate or Chase is more difficult to deal with. they are both pretty terrible.

 

[BMillionaire]

Wish I'd have seen this sooner. You definitely figured out the process but it's a little convoluted. In addition to the above, two other things to consider for someone else in your position.
1. You don't HAVE to turn the car in, sell it, or buy it at lease expiration. You can call them and tell them you intend to continue making payments and extend your lease for another 12 months. They'll reset your RV and it sometimes leads to a lower payment since the depreciation will be lesser in the next 12 than the prior 36.
2. If you want to retain the vehicle, yes buy it. BUT, with used vehicle prices what they are, you can sell it directly to a retailer and they'll pay the tax on the purchase and not you. Then just make sure you have something on order so they don't hit you with a "market adjustment" when you go to replace it with something else.

We did this with our 2018 F-Pace... sold it in February this year at the end of the 4th year, directly to a non-JLR dealership. Car was 68k new, updated RV was 29k, got offered 40, they sold it for 48. I saved about 2k on taxes alone and just pocketed the 11k. The dealership paid the bank directly using that "other" person you had to call inside 6 months, which is still just JLRFG (aka Chase Auto.)