Best lease/finance for a first sports car

Ask the Hackrs
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Hello hackers,

I am a recent college graduate finally able to afford an exciting ride while I work full-time in addition to investing on the side. Like all of us, I have worked hard and now finally at a point where I can afford one. Some of the models below I still have wallpapers of on my wall. I do not plan to buy one all cash due to the depreciation, hence I am looking to lease/finance one in the next coming months.

For the past few weeks, few cars I have looked extensively on the forums are 2021 Jaguar F-Type, 2020 Range Rover Velar, 2019 Chevrolet Corvette and BMW i8. Which ones would you recommend depending on current incentives/offers? Which are best for their value? Or is there a better alternative not listed above?

My budget is $1,000 monthly range (doesn’t mean I would like to spend all $1,000) with ≈ $4,000 down for a lease.

Kindly let me know what your opinions are as I am still in the process of browsing. In addition, when would it be best to lease/finance one of these?

Thank you all in advance. I really appreciate all the knowledge hackers have put into the forums regarding these models and being part of helping me in my dream to attain one.

Hassan.

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If you’re in NY, the Corvette makes no sense if it’s your only car as you can’t drive it 5 months out of the year.

The i8 seems to be all flash and no excitement.

The Velar is not a sports car and will not give you the smiles of the other cars. They’re also very expensive right now.

The F Type V8 has an employee PIN on it this month. Find a dealer that likes you a lot and will offer you one.

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I don’t understand this logic at all. With a lease, the vast majority of the payment is the depreciation.

I also don’t understand the logic of the seemingly random and totally disparate vehicles that you’ve selected. It’s like you’re just throwing darts at a wall. Drive some, find one you like, and come back to us if you want to lease.

In your situation I would heavily lean towards purchasing something with a couple years of initial depreciation on it that will have very little additional time depreciation ie 911, Cayman, C7 Corvette, C6 Z06, f30 M3/M4 etc.

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If you can still find a new i8 to lease, I’d personally go that route - but I’m also very biased since I’ve been daily-driving one for a year and a half. I think of it more like a SuperGT rather than a supercar, and it definitely doesn’t have the same sort of edge of some sports cars partially because it’s insanely easy to live with and drive.

Plus, it doesn’t want to kill you on a slippery road. My biggest gripe with it has been that I’ve had a cracked windshield twice now because the glass that BMW used on it is lighter and thinner than what they normally have.

If you have any questions about the i8 experience specifically, I’d be happy to chat.

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Here’s another good option. I turo’d an F type S (V6) a couple months ago and it was a total hoot. They’re dirt cheap on the used market and how much more are these really going to depreciate?

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Thank you for the input. Just to make it clear, this would be my secondary vehicle, as I do own a SUV already for the colder climate that I live in.

I have test driven 2014 F-Type R and Velar, hence why they are on my list. I see C7 Vettes a lot in my community that is why I am in consideration and BMW i8 has intrigued me ever since it came out. I have seen 2 or 3 in my community. These vehicles listed are of my interest. I am just narrowing down my list depending on the incentives, and your opinions and personal experiences with them or ones not listed.

I have made few trips to the local Jaguar dealer in the past regarding a different car, but I ended up getting a SUV (I currently own) instead from different source. I will go there again and find out more.

Would that $725/m or $830/m in past April be offered in NY for i8? or was it exclusive to a certain region @SilberAutomotive

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Chevrolet Camaro V8

/thread

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I had a few unicorn deals on the i8 last year and as far as I’m aware those are not reproducible anymore (none of the dealers I work with have any i8s left). Sad times earlier this year when BMW stopped making them.

Your best bet there may be to poke around on swapalease and see if any of those contracts would fit your need. Either that or buy a used one since some of the earlier ones are hitting the bottom of their depreciation curve.

-Andrew

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Let’s be realistic. What are the chances the credit depth and DTI of a recent college graduate get approved for an i8 or any of the cars in the first post?

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Screw the second car invest the cash and take advantage of the fed pumping which can’t last forever.

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Honestly I was surprised because one of the i8 Roadsters I set up did qualify for New Grad, so in my sample size the chances aren’t horrible :joy:

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Step 1: Graduate
Step 2: Forge a mid 6 figure job offer letter from Goldman
Step 3: Get i8
Step 4:???
Step 5: PROFIT

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Buy a 991 Porsche and post pictures here.

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Not happening, that ship has LONG sailed.

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Grad can also mean a master’s degree not necessarily fresh out of college, right?

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Yep, also eligible a few months before graduation. This is exactly what happened on this Roadster.

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So you are a recent grad and already have your own home and looking for a fun spare car for $1k/mo? That is very impressive.

If you are still living with your parents, forget what I said above. Getting your own place needs to happen first.

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nobody will buy the credit.

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I’m not sure what’s going on with this site lately…i see more life and financial advice given than leasing advice. Maybe OP comes from a wealthy family…and if not, in your 20s is the best time to make poor financial decisions…i see no problem here.

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