Buying or Leasing?
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No clue on lease rates. EVs with over 200 miles of range seem to hold their value decently, unlike the ~80 mile cars. I don't think Jaguar will be selling these at a steep discount anytime soon, unless the economy tanks. We'll buy because we'll keep it for at least 5 years. Two years from now, when initial demand is gone and Jag improves lease pricing, leasing may be a better deal.
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808 Posts
I got this U.K. residual values from this article and I also checked it against Jaguar U.K's leasing program. The two values sync.
Article: New 2018 Jaguar I-Pace: specs, prices, pics and video | Auto Express
I-Pace Residual Values (3-year, 30K miles/year):
S 55.8%
SE 55.1%
HSE 54.7%
First Edition 54.8%
This gave me an idea how much my lease payments will be approximately (including local taxes) using Edmunds Lease Calculator:
https://www.edmunds.com/calculators/car-lease.html
-Ben
Article: New 2018 Jaguar I-Pace: specs, prices, pics and video | Auto Express
I-Pace Residual Values (3-year, 30K miles/year):
S 55.8%
SE 55.1%
HSE 54.7%
First Edition 54.8%
This gave me an idea how much my lease payments will be approximately (including local taxes) using Edmunds Lease Calculator:
https://www.edmunds.com/calculators/car-lease.html
-Ben
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112 Posts
I've never come across any scenario where leasing was less expensive than simply buying the car, and selling it when done with it...
I'll give you it's 'easier', but I need to keep my cash my own...
I'll give you it's 'easier', but I need to keep my cash my own...
Buy or Lease
Well Good question I'm a cpa in NJ. If it's for business we tell our clients to lease if you like to turn over cars. However there is a $7500 federal tax credit if you buy and Calif also offers I believe a $2500 tax credit if you buy. In NJ it is not subject to sales tax @7% if you buy or lease. I leased a Tesla S $5000 down and the payments were $1150 per month for 3 years 12,000 miles on a $ 102,000 msrp vehicle. Depending on the demand Jaguar may or may not offer good lease incentives. I hope they do. Does anyone have any numbers ? My msrp is 85K
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The Federal Tax incentive is deducted from the capitalized cost of the car when leasing. The CA Clean Air Rebate incentive is for lease or buying a car. CA gives you an actual rebate check. There are also income requirements. Most utilities' rebates are also good for leased or owned car. Just got to show proof of registration.
-Ben
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1,792 Posts
I've had good leases from BMW, Fiat, and Chevy, where the lease is much cheaper than buying. The CPO BMW I bought was as expensive as just leasing the same car new, so that was a bad idea. Our Subaru Forester has barely depreciated for the 4.5 years we've owned it, but lease vs buy would have been a wash since their lease deals are generally good. For my FR-S, it's plummeting value has leveled off, but I don't expect to sell it or buy a replacement anytime soon.
So, in the end, lease vs buy depends on the deals.
So, in the end, lease vs buy depends on the deals.
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Just got done talking to my dealer. My car is built, on the boat, past the panama canal about 3 weeks from delivery. Very unsure if I am going to go thru with this deal. I was Very unhappy to find out that the lease deal on my fully loaded 85k HSE --just plain stinks. The money factor is thru the roof at .00349 and the residual sucks at 44%. At 10k miles, for a 36 month lease I am looking at 1500.00 a month. I can lease a Tesla S, 75D with a 77,000.00 msrp for 900.00 a month for the same terms. This I Pace lease should be in the ballpark of 1000-1100.00,(even that is High) but they are offering No incentives what so ever. They also told me this lease was With the 7500.00 federal rebate coming off the MSRP. I am paying full price for the car. You would think that for being the Guinea Pig and buying an untested, unknown, car there should at least be SOME attempt by Jaguar to be competitive. Not asking for a Deal-just asking them to be competitive. They seem to think getting an extra 21,600.00 more than Tesla over 3 years is something customers will be happy to do. The lease was so bad, I thought about buying the car. Again Jaguar is a no-go. They offer rate incentives on most of their other cars from 1.9% for 36 months to 2.3% for 48 months. No Rate Incentives on the I pace though. They told me the credit union is my best bet at 3.75%
FYI be forewarned! unless your paying all cash for an I Pace you will be paying out your nose. Maybe Jaguar never heard the old saying, pigs get fat hogs get slaughtered. Electro
FYI be forewarned! unless your paying all cash for an I Pace you will be paying out your nose. Maybe Jaguar never heard the old saying, pigs get fat hogs get slaughtered. Electro
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808 Posts
Yikes. That's bad. Wonder whatever happened to this projected residual values from AutoExpress UK (???):
I-Pace Residual Values (3-year, 30K miles/year):
S 55.8%
SE 55.1%
HSE 54.7%
First Edition 54.8%
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3,189 Posts
I've found leasing my A3 to be incredibly stressful at first .. and then just continuous unease about the fact that if I put in a dent or scratch it, I will be penalized significantly when I return it. I really don't like leasing :/
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808 Posts
The residual on my 2016 A3 e-tron is 50% (49.99999...) and the money factor is 0.00241.
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1,792 Posts
It's pretty much impossible to get a good lease deal on a brand new model.
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This is using a 39% RV and .00176 MF.
They wont let me purchase the car at that price and the purchase option at end of lease would be 39% of MSRP.
Thoughts??
The bank (in this case Chase) sets the residual values. JLR can't do anything about that.
Naturally there is tremendous uncertainty around where the market for electric vehicles will be 3 years from now, and given the lackluster demand for the I-PACE in the US, Chase is hedging their bets and forecasting massive depreciation as a result. The alternative is them taking a loss on the car when they reposess it.
Naturally there is tremendous uncertainty around where the market for electric vehicles will be 3 years from now, and given the lackluster demand for the I-PACE in the US, Chase is hedging their bets and forecasting massive depreciation as a result. The alternative is them taking a loss on the car when they reposess it.
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