Need your help on this deal for a remaining 2017 F type R in new jersey. I am new to leasing but have been reading carefully for a long time. I have family that live close to the dealer but I live in new york and I was thinking I would be able to get a good lease on this but I know im being screwed by this dealer:
MSRP: $109,858.00
Selling Price: $89858
Residual Value: 56%
Money Factor: 0.00195
36month and 12000 miles per year
Drive off: $0total down+ 1st month payment - 1487
These numbers didnt make sense to me when I used the calculators until I realized they are basing everything off the selling price being the “MSRP”. They explained to me that they already took the discount off before hand.
Also, they told me that it would have to be financed through chase I believe and not jaguar since it is not a 2018 car.
I think a better deal should be:
Actually basing the numbers off the correct MSRP. Also, increasing residual and decreasing MF. This is what I was going to send them:
MSRP: $109,858.00
Selling Price: $85000
Residual Value: 60%
Money Factor: .00134
36month and 12000 miles per year
Are you sure 2017’s are still leasable? Chase is Jaguar’s leasing bank, so not sure what you meant by your statement.
Also, you can’t tell dealers to just change the RV/MF to whatever you want. The bank sets both. For MF, the dealer can mark it up, but you cannot get lower than the buyrate MF.
Sorry for my lack of understanding. I did not realize about the RV/MF
I spoke to the lady over the phone and she explained to me that they it would not be jaguar financing the car but a different bank, so I must have heard her wrong. I will double check tomorrow
She did tell me that the the 2017 is still leaseable as she gave me the deal, but I think the issue is how they are using the MSRP and sale price to calculate monthly payment.
Using their numbers I could probably negotiate on the price of the car
I guess the issue is that they took a big discount off the front from the MSRP and are using that as the starting value of the lease
Does this mean that it may be better to just wait for a 2018 lease deal?
Dealers cannot pick what to base the RV on. If it’s not what the bank set, then they will reject the contract. If there’s no lease support any longer, maybe the RV is a set dollar amount now instead of a percentage of MSRP?
I’d be very surprised if there was still lease support for 2017s. I’d suggest calling the 800# for chase and Jag and confirm whether it’s still being supported. I think someone should be able to tell you.
Like @Jon said, the dealership doesn’t get to mess with RV and MFs with the flexibility you’re describing. I also wouldn’t touch that lease unless you’re able to get a 25% discount on it because the residual has to suck by now. Generally higher trims that sit on lots for this long take a shot to the face with residuals.
However, I’ll bet there’s certainly a good chance you could buy the car for under $80k.
Thanks for all the help. Clearly there is something I am missing and did not discuss with the dealer. I will speak to the them again tomorrow and clarify this information. Thanks again.
There is no factor support for 2017’s. you can lease them yes, but only thur a private bank, and the finance of jaguar. Hope that helps. My husband was thinking of leasing a Volt 2017, until they told him that there was no “factory support.” Meaning you will not get any discounts or incentives from the factor to put towards the car. If they are telling you they have taken the incentives off then they are lying…
