When you buy a Jaguar car from Jaguar of Northfield, you always get the best offer possible. However, the value of a Jaguar vehicle can be limiting to some budgets, so many of our customers turn to leasing.
However, as commonplace as it is now, many people can still be confused by how a lease works. Today, we want to explain how leasing works, and what it can do to help get you behind the wheel of the latest and greatest Jaguars on the market.
How are Leasing and Buying Different?
Financing a car involves taking the payment and any taxes or fees and rolling them into a payment plan set out over a number of months. For many, the entire cost of the vehicle can be prohibitive over any of the monthly payment plans we have available, which is why down payments and trade-ins are so popular.
With a lease, you finance only a portion of vehicle’s value—specifically, the value the Jaguar car will lose from the moment you drive it off the lot to the moment you drive it back at the end of the lease. From there, you have the option of entering into another lease with another new Jaguar car, or entering into a financing plan to pay off the rest of the value remaining.
For example, say you want to lease a 2020 Jaguar F-PACE for 36 months, which costs $55,000. We calculate that your Jaguar SUV will lose 25 percent of its value over the course of the lease, which equals $13,750. So, you end up financing that amount, which over 36 months comes out to a total of $381 per month. That means you’ll be able to drive a brand-new Jaguar every couple of years with the latest and greatest technology and top-notch performance.
Come in to our Northfield, IL Jaguar dealership and see how affordable your dream Jaguar can be with a lease. It’s essentially driving the best at a price you’d never expect!