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What is a good rate for a lease?

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54K views 84 replies 46 participants last post by  Sgt Beavis  
#1 ·
Lease figures

I just got an email from my dealer showing me my lease monthly payments using the current lease programs for the F-Pace. Of course there is the caveat that it could vary slightly when I actually get delivery of my car the end of July.

Here are the details:
Vehicle price: $58,035
Residual 59%, $32,240: that's pretty decent, right?
Money factor: .00136 (3.264%) - is that above or below average?
36 months
10k miles per year

If I put $5,000 down, my monthly payment would be $769.73 (not sure if I will put that much down or not).

That includes document fees, title and license and sales tax (8.15% in Nevada). Basically, my out the door price.

To all the lease experts out there - what do you think? Good deal? Bad deal?
 
#4 · (Edited)
That is NOT a good lease rate at all. Very high.

My current vehicle is a BMW X1 which had a MSRP of $38k, and my lease was $2800 given upfront (including taxes and fees) and $375 per month for 36 months/10k miles per year.

Before that I had a BMW X5 which had a MSRP of $54k, and my lease was $4k given upfront and $575 per month for 36 months/10k miles per year.

Those were fairly good lease rates, but I've seen even better. Take a look at Jaguar's website. The F-Type with a MSRP of $67k is being advertised for $5k due at inception and $699 per month. While that does not include taxes and fees, it is $70/month lower than your quoted rate and is for a vehicle that is $9k more expensive.

Unfortunately it seems like the lease rates on such a new vehicle are pretty poor. I plan to get mine at the end of the year, and if they are still so high then I will walk and get a different vehicle.

Just for comparison, for a Range Rover Evoque with a MSRP of $51k, I was quoted $3500 due at inception and $510 per month for 36 months/10 miles per year. I plan to price my F-Pace out to a very similar amount and I would expect the lease rate to be somewhat similar, perhaps a tiny bit higher. But if it is $100+/month more, then I will walk.
 
#8 ·
My dealer (yesterday) says the lease rates are different for each level trim.

For a base 35T with an MSRP of $44800, at 10k miles for 36 mo, MF is .00261 and residual is 60%. With NC tax monthly payment is $630.

For Premium 35T with an MSRP of $47,645, at 10k miles for 36 mo, MF is .00164 and residual is 60%. With NC tax monthly payment is $623.

So, they're currently incentive the premium more than the base wherein the MF difference actually overcomes the premium paid for the Premium level trim.

Also, these are current generic numbers for the base and Premium gas version only. No numbers yet for diesel, and of course, even these are subject to change. He speculated that 60month financing would be at 1.9 - 2.5% APR.

hope that helps.
 
#9 ·
The lease terms are simply okay; not good but not terrible. 59% residual is not "Best in Class" as we were promised, but rather comparable to other cars in the class. Keep in mind the same car with 12k or 15k allowance would be 1-2% less each level. So perhaps 55% for 15k miles; again comparable or slightly less than others in the class.

The money factor hurts a bit compared to other Jaguar models. I was quoted a .0002 (0.48% APR) rate on an XF, but that is not a new, highly sought after model. There is money to be made in leasing these vehicles, and Jaguar is going to take advantage of it.

If you wanted to share the value of all the other fees (acquisition fee, doc fee, registration, etc), I could give you a breakdown of how much of you payment is principal, interest, and tax.
 
#14 ·
The quote I was given doesn't break down the doc fees, title, license and sales tax. However, when I run the basic numbers (MSRP, down payment, MF, sales tax and residual) through an online lease calculator, it comes up with a monthly payment of $693 which includes sales tax of 8.15% in Nevada. To get to my quoted monthly payment of $769.73 I have to rejigger the MSRP to $60,500, which would imply the doc fees, title and license add up to $2,500?
 
#16 ·
Dealer says my S model (Dark Blue Sapphire, Brouge interior, 20" Blade Grey) has a 58% residual and a .00150 money factor for a 7500mi/36 month lease (very low mileage-hopefully only 1% higher for 10,000), equal to $759/month with $4999 down on a MSRP of $58,245. Will do my own calculations but I will pay cash with that interest rate and forgo the 1st month payment free offer.
 
#17 ·
Spoke with dealer today.. he said that he can't give me lease numbers right now because my vehicle is arriving in june so they only have numbers for may. In other words numbers change month to month.. 800 for a 54k car is not a good deal.. I might just go with the xc90 and consider an Fpace in a couple of years when maybe they upgrade the interior a bit.
 
#18 ·
Just noticed that Jaguar USA now has lease and finance offers for the XE. Based on the lease example the residual is 64%! Someone check my math on that please. Haven't tried to calculate the money factor yet. But they're financing at 1.9%.
 
#19 ·
I am getting different money factor rates from two local dealers for my F-PACE S.

First dealer: 36 months/7500 miles (unusually low) = residual is 58% and money factor is .00150 or 3.60%

Second dealer: 36 months/10,000 miles = residual is 56% for 10000 miles and 55% for 12000 miles. The money factor for both is .00120 or 2.88%
 
#26 ·
Looking to lease a 35t Premium for my wife, however this is the first time I've ever leased a car so I really have no idea what a good rate would be. I've always either bought outright, or financed used cars. I like the idea of leasing though, as she doesn't drive very much and the Jaguar Elitecare seems great.

Is it unrealistic to obtain a rate in the area of $500 a month? I'm sure it matters how much of a down payment you put down, but I'm just wondering what sort of incentives and rates everyone else is getting here for a similar trim.
 
#27 ·
Hey so I generally recommend not to put money down. This is because if something happens to the car (stolen) you dont get that money back.

Anywho you would have to put down a significant chunk of change down to get it to 500 a month. According to true car the f pace is being sold at MSRP and its really hard to get them to budge on that. I got mine at launch so they may be a little more willing now? Not much as the supply still isnt there right now. In the future the will be willing to budge more hopefully.


There was an incentive to get one month free and 500 off MSRP. Dont think that exists anymore.

The monthly payment on a premium with options (totaling to 50k) was about 700 with nothing down last may. Last may the money factor (interest) was horrible but the residual was fairly good.

You can play with some lease calculators based on the MSRP and ask a dealer for the current Money factor and residual to figure out how much you would need to put down to get your desired payment. Maybe try and negotiate down the capitalized cost.

Overall though the premium lease is fairly reasonable. Once you start going up the line the numbers become insane.
 
#28 ·
I have leased many cars, going back to 1986. Leasing often makes good sense if you do not drive high miles and do not really want to keep the car longer than 4-5 years. That being said, the low interest rates for car loans (under 3% and sometimes under 2%) makes that the more attractive alternative to leasing for me. I am about to make my final payment on a 2012 RR Evoque, financed for four years at 1.9%. JLR does not have any lease options that come close to making leasing an attractive alternative. Though, from memory, the sweet spot for the FP seemed to be the R-Sport lease a few months ago.

Depending on where you live and how many dealers are around you, you CAN get at least $1,000 off MSRP, either buying off the lot or ordering. In fact today, without even trying, a dealer emailed me in the Philly area offering me $1,000 off a factory S build. I think I can do much better.
 
#29 ·
Thats good info. 50k is about what I calculated on the jaguar website for the 35t Premium she wanted. As far as putting money down, thats what I was afraid of. I have been reading that putting a large amount down is a bad idea, since you don't get the money back. I'm thinking a better idea would be to sort of subsidize the payment, having the money in a separate account that it takes out of every month, instead of giving the dealership the down payment. However I have't seen anything about a zero down payment yet(will call the dealer tomorrow though).

Do you think its a good idea to wait until the end of the year or even next year to see what sort of incentives and lease offers they give out? If true car is saying the car is selling at MSRP, I'm sure I could wait ~6 months or so and get a better deal...Hopefully
 
#31 ·
Keep in mind i dont think jaguars lease calculator online includes tax.


I cant predict the future unfortunately. Maybe you can get the dealer to budge on price i heard of it happening here. I think eventually the price will come down and incentives will be better. Not sure when that will be though. I think it might have gotten better but true car seems to say otherwise. Not sure what current residuals and money factors are
 
#33 ·
Lease rates?

Hi guys- new member here and just starting my search for my next car. I've been impressed with the F-Pace, and am curious to see what type of lease rates people are getting?

For work purposes, leasing is a better option for me, so I'm really only interested in going this route.

Curious to see what types of rates / monthly payments you guys are getting?

Thanks
 
#35 ·
Hi guys- new member here and just starting my search for my next car. I've been impressed with the F-Pace, and am curious to see what type of lease rates people are getting?

For work purposes, leasing is a better option for me, so I'm really only interested in going this route.

Curious to see what types of rates / monthly payments you guys are getting?

Thanks
Higher trim level leases are insane! For about a 50K msrp mine came out to 700 a month 0 down. An S is like a grand a month.

On mine residual was 61% but the mf was high and they charged msrp
 
#38 ·
#39 ·
Thanks for posting this...This is the quote i got for the prestige which seems a bit high--I added the the technology package

39 months
- 10k miles per year
- $727.00 payment plus tax ($792.43 w/taxes..6%)
- $2500 due at signing
- $55,220 MSRP
- $53,720 selling price
 
#46 ·
What is your monthly payment?

I just wanted to know if anyone minds sharing what their monthly payment is for their 2017 F-PACE lease.. Can you list what kind you have,miles, month leased and if you added anything to your vehicle... I am just trying to get a rough idea of what folks are paying around the country.. I ordered a Polaris white f pace/prestige and added the technology package ( Black rails on sun roof, and black tires) and was quoted $825 with $2500 down. I did not put any money down yet


Sorry if this was discussed before on the FORUM- (I don't want to get "YELLED" out by any internet grouchy folks).. :(:(:(:(:(:(:(

Thanks