Jaguar F-Pace 25t Prestige

Ask the Hackrs
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1

I would like to know if the following is a good deal or not

Make : Jaguar F-Pace 25t Prestige with some good added options
MSRP: $55530
Selling Price: $51000
8.2% off MSRPLEASE NUMBERS
Months: 39
Miles/Year : 12K
Residual: 51 %
Residual value is $28,320.
Money Factor (MF) : .00012
APR: 0.29%
CAP COST ADJUSTMENT
Down Payment: $0

Base - 614.11
Total monthly (with 9% Chicago) - 669.38)

Drive off
First monthly - 669.38
Acquisition
Fee : $895
Government Fees : $626 (Doc, License, title, filing)
Chicago Home Rule and Use Tax - (1.25%) $352.29
Cook County Use Tax - (1%) $281.83
Illinois state sales tax - (7%) $1972.81

2

There’s room for improvement.

3

Thanks for your reply. Could you give me some pointers? I am really new to this leasing game and being in Chicago is adding up a lot of extra taxes. So far I am not committing to anything and doing everything only through mails only.

For example these percentages should be paid at all times with any car lease other than the monthly tax. I assume it is true.
Chicago Home Rule and Use Tax - (1.25%)
Cook County Use Tax - (1%)
Illinois state sales tax - (7%)

4

BTW I missed to say $669.38 includes acquisition $895

So drive off is
Drive off
First monthly - 669.38
Government Fees : $626 (Doc, License, title, filing)
Chicago Home Rule and Use Tax - (1.25%) $352.29
Cook County Use Tax - (1%) $281.83
Illinois state sales tax - (7%) $1972.81

5

Tax in IL is only charged on the monthly amount for a lease. It looks like your effective tax rate is 18.25% including the Chicago use tax. Personally I don’t think I would lease a car if I lived in Chicago.

You’re paying $30k to drive a $55k car for 39 months. You’re really not saving anything over buying. An additional 9% use tax to lease is absurd.

6

Yes, its is around 18.25%. As you said I can roll the bottom three Chicago/IL taxes to monthly (in addition to the normal 9% monthly) if I wanted to then the monthly will shoot-up. But like you said after starting my research for few weeks now I am questioning this myself. I feel like being in Chicago, the best is to look for a deal with a previous year model with less mileage (or new if you have budget). :frowning: