Bought My Dream Car

Dmb5450

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After months of research and a some phone/email communication with the dealer, I finally pulled the trigger on my dream car! I picked the car up yesterday and absolutely love it! The dealer was phenomenal and it was honestly the best experience I had in car buying. The car is a used 2016 F-Type AWD in glacier white 1500 miles. I have 3.5 years left of the factory warranty, with the option to extend this prior to 24k miles, and 3.5 years remaining on the free scheduled maintenance. The dealer gave me the "platinum" protection as well, 5 years of key replacement, windshield repair, roadside assistance, dent and ding repair, wheel repair or replacement, and tire repair.

As a side note: For anyone looking into vehicle financing, I would check out Penfed Credit Union. I only found them through my research, they have low rates on traditional loans and also offer a payment saver loan. The payment saver is basically a lease but you own the car, no restrictions. You can take out up to a 5 year loan with this option. I went with this, I have 59 payments then the 60th is a ballon payment. I can either refinance through them or another bank, trade the car in/sell the car and simply pay them the difference. I was told they make the residual amount very conservative, most people pocket money after Penfed is paid off. Instead of putting a huge down payment down I am saving that for the 60th payment, if I keep the car that long. I get to keep some money in an interest earning account, pay off the car or use that for a future car. Again a little off topic but I suspect that this may be an option for some people here who blow through cars or traditionally lease them. In my case the dealer would have leased the used 2016, but the lease was actually more per month than my payment at Penfed to own the car without mileage restrictions. The only "catch" you must belong to a military family to join the credit union for free, if not, anyone can join with a 15 dollar donation to a charity that assists our vets. I think that is a great way to help out, so I didn't mind at all.

Now for the car!


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I need to take some better picture, but I spent most of yesterday driving the car, pictures will need to wait :) The exhaust sound on this car is what I imagine Ulysses experienced with the sirens. I smiled every second I was in the car, best of all the wife loves the car too!


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... and a garage to keep it in! Awesome.
 
Congrats! Sexy Sexy car for sure. :xyxthumbs: You'll love it. My son (age 13) is just starting to get interested in cars and really likes them. He's seen a couple at track days with me and it's one of his top picks. Funny thing is we were just watching some videos of them last night.

Time to update your avatar! :)
 
Congrats! Sexy Sexy car for sure. :xyxthumbs: You'll love it. My son (age 13) is just starting to get interested in cars and really likes them. He's seen a couple at track days with me and it's one of his top picks. Funny thing is we were just watching some videos of them last night.

Time to update your avatar! :)

I fell in love already, and your son is a smart young man and has great taste in cars! I need to get the will power to take a good avatar picture, when I go out to the car I want to drive it instead.


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Congrats from an F-Pace owner, F-Type is on my list!

The F Pace is a sharp car, my wife has an outback and that is our family car, no kids but two pit bulls. The F-type wouldn't fit two dogs . When we went to the dealer she commented on how nice the F Paces are. Just curious what sold you on the F Pace, if you don't mind me asking?


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Wrong!

You bought my dream car and it is time to bring it back:)

Absolutely one of the best looking coupes on the road. Congrats!

That payment/loan schedule is a cool idea. Can you give us a hypothetical on monthly payments and final balloon payment? I don't want to know how much you payed but just want to get an idea of how big the final payment is.

Come on, not one mention of what you are going to put on your paint. I'd be too busy driving it too:) Keep us posted.
 
thats a hell of a car, i don't even think i could drive one considering i work in construction and i wouldn't want to park it on the site and i would be way out of place.... maybe in another life lol.... congrats
 
Congrats, one of the best looking cars on the road today.
Time to change the avatar.
 
Wrong!

You bought my dream car and it is time to bring it back:)

Absolutely one of the best looking coupes on the road. Congrats!

That payment/loan schedule is a cool idea. Can you give us a hypothetical on monthly payments and final balloon payment? I don't want to know how much you payed but just want to get an idea of how big the final payment is.

Come on, not one mention of what you are going to put on your paint. I'd be too busy driving it too:) Keep us posted.

I knew it was only a matter of time until the cars true owner called me out and wanted their car back!

The figures vary based on how the car selected holds its value, since Jags lose value quickly, main reason I didn't even consider new, the residue for the F type may be totally different than say a Kia Soul. For my deal, the final payment is 33%, so they took the price of the car, found the residual and payments were based on that. Obviously since new cars lose value quicker a new vs used F type would have different residuals as well. Penfed has an online calculator for estimates if final payment.

To make it easy to follow assume:

Price of a car 10k
Projected Value of the car in 5 years 33% of the car's price

Final payment would be 3300

The difference of 10000 and 3300 is 6700.

6700/ 59 payments is 113.55 per month.

So total break down would be:

59 payments at 113.55
1 payment at 3300

I hope that answered your question, the website has more info and calculators if you wanted specific quotes. I never leased a car, but from what I understand it is formulated like a lease using similar payment terms.


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Congrats on the new ride, not everyone can say they bought their dream car, but have!

What engine/trans do you have in it? What color is the interior? Any thoughts of upgrading the wheels?

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Wow, that is a SWEET car!!!!

I used the payment saver loan from Penfed for my last car and it worked out GREAT! I put I think only a thousand down on the new car and took a 3 year loan with the balloon payment at the end. I rounded my payment up to the nearest hundred each month (about $80 extra every month). When I traded the car in I had a nice chunk of equity in the car which I would not have had if I had leased it. It's definitely the best way I've ever bought a car. Plus the interest rate is better than you get almost anywhere else. I would have loved to get this loan on my Durango but they only let you do it with a current or one year prior model year.
 
That explains the payment plan perfectly, thanks. Neat concept for a car in that price range. Smart buying used too.

I have this feeling in 5 years that F-types are going to be worth more than a comparably priced non F type Jaguar. This car is an instant classic.

Enjoy the dream car. My dream car as a kid (80's) was a Countach and Fiero:) Now it is the F type, Cayman, or C7. Lottery dream car is McLaren F1, LaFerrari, and P1 in that order.
 
Awesome car! My buddy has one that I detail twice a year.

We are looking at the F Pace to replace my wife's car.

Congrats!
 
The F Pace is a sharp car, my wife has an outback and that is our family car, no kids but two pit bulls. The F-type wouldn't fit two dogs . When we went to the dealer she commented on how nice the F Paces are. Just curious what sold you on the F Pace, if you don't mind me asking?

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I had an Evoque before, so for me, aside from the styling. it was the increased interior space, performance (V6 supercharged vs V4 eco boost, plus the transmission is way better) and overall handling - much more sports car like than crossover. Has a lot of F-Type stying queues too :) Got the R-sport package.

Great info on the payment structure. Have to check that out next time.
 
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