Hi all, I have purchased cars before but this is my first time leasing. I’ve researched a lot on Leasehackr but I’m still pretty confused. The salesperson threw a lot of numbers out but no residual or money factor is shown. Here’s what I have.
2017 Jaguar F-Type Premium
MSRP: $80,683
Discount: $10,000
Adjusted Price: $70,683
Transport (LA to TX): $850
Total Purchase: $71,533
Doc Fee: $150
Tax: $1,073 (I asked why this was so low in TX and he said something about a credit.)
Non Tax Fees: $1,011
Net Price: $73,767
Term: 33 Months
Cash down/monthly payment: $3000/$762, $5000/$699 (He didn’t give me a $0 down quote).
From what I’ve learned here, it seems like putting money down is not the way to go. I also see some great deals that make me think I’m not doing as much as I should to better my deal. Thoughts? Thanks in advance!
It seems like you told him what you were looking for number wise and he threw these numbers at you to confuse you. I’d move on to the next dealership who is looking to be straight forward with you
Depending on who you are working with, it can help to just give them your numbers and see what’s possible, but with most dealers, your best bet is to go in there with all the info you have gained but act like you don’t know.
Thanks for your response. I have spent the last 6 hours reading the forums and I’m so glad I found this site. There’s only 1 Jaguar dealership in town and the next one is 85 miles away. I’m going to try to negotiate further with my local dealership before contacting the other one.
If I were to stay under $800/mo with $0 down, is that a proper application of the 1% rule? Based on other deals in the forums, I feel that $800 might still be high for this car. Care to share your thoughts? Thanks a ton!
Don’t get too hung up on the hacked deals, the two epic SVRs were strokes of good timing with major rebate benefits ie in one case like Jag loyalty. 17s are becoming harder to find and if you are remote you may have that much less luck. Find out what rebates are going into your deal on Auto Bytel and figure out what the dealer discount from there
If that doesn’t work, try using a different name and email to negotiate through email only. Don’t go in the dealership and see what they give you. Like @Siejammy said, the two epic deals were from luck with good timing but you should still be able to do better regardless.
Or driving 150, or 300 or 800 if the deal is right.
OP, As mentioned earlier, stop negotiating in person. Get offers from other dealers and make your local person work for your business. Certainly don’t tell them you won’t drive 80 miles to save 50 or 100 per month.
This is great advice, guys. I am currently negotiating with two dealers via email that are ~80 and ~200 miles away respectively. I’m definitely willing to work and/or travel for the deal, and I’m definitely feeling more confident as I learn more on Leasehackr.
Local dealer just emailed me with this. Your thoughts would be greatly appreciated. (Definitely not trying to have others do the work for me. I am working on it on my end, but I’m really thankful to have more sets of eyes that have experience with leases.)
"$0 down would put you at $855 with a residual of 61% and a money factor of .00127. There are a lot of incentives, that is how we were able to discount the vehicle $10k plus we offered tax credits. Don’t let a great deal pass you by! There is only 1 car in the nation that has the color combination you are looking for and I don’t think it will be there much longer. "
Correct me if I’m wrong, but haven’t the residuals gotten a lot worse since earlier in the year when a lot of the killer deals were going on? I seem to recall the first big base ftype deals were in the 70% residual range for a 36/10, and now they are more like 63%.
