Jaguar Offers 0% APR On I-Pace: How Does It Compare To Tesla?

FEB 18 2019 BY STEVEN LOVEDAY 44

Interest-free financing on a new EV is uncommon, but you can take advantage of it now on the 2019 Jaguar I-Pace.

This time of year, car sales are down in general. It’s winter and few people want to shop for a car in the cold weather. Additionally, finances may be strapped after overspending during the holidays. Also, due to fantastic end-of-the-year deals, many people already bought their new car. In the final quarter of any year, automakers are pushing out 2018 inventory to make room for 2019 stock. In addition, they’re promoting 2019 models with enticing incentives and trying to sell as many cars as possible to end the year on a high note.

When it comes to EVs, buying at the beginning of the year just doesn’t make sense to many people. EVs qualify for the $7,500 federal rebate, which comes at tax time. Few buyers would want to wait nearly a year to take advantage of the rebate, so buying late in the year is more appealing. Add the fact that it’s cold in many areas and there’s been plenty of news about electric vehicles being a bad choice in cold weather. So, what does an automaker do to promote sales?

The Deal

Jaguar is now offering 0% financing on its new, all-electric I-Pace crossover. The incentive also applies to a respectable, five-year term. The deal is actually valid for most Jaguar vehicles through April 1, 2019. According to Jaguar USA:

All new 2019 Jaguar I-PACE models eligible for financing at the APR shown for well-qualified buyers as determined by approved lender. Payments per month per $1,000 financed, regardless of amount of down payment, can be as low as $16.67 at 0% for 60 months. All amounts shown are estimates. Retailer sets actual amounts. Supplies are limited. Taxes, title, license and fees excluded. Residency restrictions apply. Customer must take new vehicle delivery from retailer stock by 4/1/2019. See your participating Jaguar Retailer, visit JAGUARUSA.COM or call 1.800.4.JAGUAR / 1.800.452.4827 for qualifications and complete details. Jaguar or approved lender may rescind or amend this offer without notice. © 2019 Jaguar Land Rover North America, LLC

What Will An I-Pace Cost?

Sadly, there are no lease incentives available for the I-Pace, even though Jaguar is offering lease promotions on many of its other vehicles. While zero-percent financing is a hard deal to beat and is the most financially wise, lease deals tend to drive up sales at an even greater rate. Even though no lease specials are available, you can use Jaguar’s lease calculator to get an idea on a monthly lease payment. A 36-month, 10,000-mile-per-year lease with zero down starts around $1,157.98.

To give you an idea about what your payment might be with the 0 APR offer, we calculated it on the Jaguar USA website. For the base I-Pace EV400 ($69,500), with zero down for 60 months at 0 APR, you can expect to pay a base price of $1,175.42 per month.

I-Pace Compared To Tesla

For comparison, even though we’ve said time and time again that the Tesla Model X is much different from the I-Pace, we checked Tesla’s website for payment options. The $88,000 Model X will cost you about $1,338 per month to lease (36 months, zero down, 10,000 miles) and $1,450 per month to finance for 60 months. However, the finance calculation includes 3.75% APR and $10,000 down, since Tesla’s website won’t allow you to put zero down, and zero interest in not available through Tesla. A Model S lease starts at $1,286, and the finance payment sits at $1,395 with $10,000 down. Financing a Model 3 will cost you $716 per month with $5,000 down.

The I-Pace has been on sale in the U.S. for four months. Thus far, just over 600 have been delivered on our shores. For comparison, Tesla delivered 367 Model 3 vehicles in its first four months and only about 160 Model S and 214 Model X vehicles during the same time frame. With that being said, I-Pace sales seemed to be off to a decent start with all things considered. In Europe, the crossover has been on sale for nine months and deliveries have surpassed 6,000. However, the automaker only delivered about 1,000 globally in January, which is a significant drop from previous months, but expected this time of year.

Source: Electrek

Categories: Comparison, Deals, Jaguar, Tesla

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44 Comments on "Jaguar Offers 0% APR On I-Pace: How Does It Compare To Tesla?"

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Tesla X seems to be a more logical choice with the added range, OTA updates, and supercharger availability. It’ll take more of a discount to convince me.

But you’re going to pay for it…Not only is the Tesla nearly 20% more, AP is $5K on the X, you can add driver assistance to the base Jag for $1700. The Jag also have complimentary maintenance for 5 years; in 2017, Tesla was charging $2875 for an X four year maintenance plan. Finally, Tesla’s MSRP is fixed, people have already reported scoring IPace deals for thousands below MSRP.

Well, since you haven’t considered resale value, you’ve only done half the math.

If you care about resale value, you shouldn’t purchase luxury vehicles…

At least not new anyways.

And if you don’t factor in the depth and breadth of the Supercharger Network that generally adds a ton of value to the Tesla in terms of long trip planning and charger availability.

But a lightly used Tesla X is about same price as iPace after rebates with much better range and 5,000# towing.

The towing capability of the X puts it in a class of it’s own.

You forgot that X is one of the top 3 safest cars in the world and by far, the safest SUV.

All EVs are safe unless you going 125 mph like Tesla drivers

Choosing a car is a personal thing. Not all BEVs are created equal. Some of us prefer the design and driving dynamics of the i-pace. Others prefer the larger range and OTA updates of the X. What matters is that we have a choice.

Ipace has OTA functionality too.

I pace a great beauty, again the lack of supercharger network is the deal breaker

No thanks that a lot money to lose plus the money down

Many owners stop doing OTA updates for model S and X due the horrible UI of Version 9, and keep the user friendly version 8 including me. So at this point the only advantage is the supercharger network that still unbeatable.

I love version 9. Much more user friendly than version 8. If you stop doing OTA’s you will not get the autopilot enhancements either.

I will be curious to see what happens to Model 3 demand when it becomes available to lease. It seems that all the European luxury brands have lease rates of greater than 60% (e.g., BMW is 70%), so I can imagine a fair number of those customers being willing to try an EV if the lease costs aren’t astronomical.

Historically Tesla leases have been expensive compared to BMW. Tesla usually has much higher APRs and low residuals, but I think a lot of people would try a Model 3 on a 2 year lease.

In 2014 we were able to lease our BMW i3s for $65/month after tax incentives (federal + state) and dealer discount. Our $5k state incentive went away a few years ago.

So Tesla financing is crap then

Yes Russian troll, we missed you.

Yelp Russian troll from ohio

0 down and 0 apr plus $300 cheaper per month then X .👀

Although I prefer Tesla, but I don’t think a few (600ish) that bought iPace are idiots.
I’m sure some of them own both Tesla and iPace.

That is not going to happen.

This troll is either paid, working for a disrupted industry, or most likely a right-winger anti-EV idealog and therefore not intelligent.

And I bet you have all kinds of other insults for Teslas too — so I suppose with all your “good vibes” for the iPace, that you expect it to absolutely destroy tesla in terms of sales, right?

Because, the iPace is *clearly* more luxurious, better fit and finish, better panel gaps, better design, better price, better payment options — it should absolutely shoot up the sales charts…right?

Never said so. It’s good deal tho

For Tesla, you can get 3rd party financing, that’s around 2.5% for 5 years now.

Where can I get 2.5%?

Where EVer you go, that is with your 780+ credit score, and your Credit Clout!

Credit unions, with excellent credit profile.

Have no problems with credit score, but the best rate I found is 3.24. Anything below that are usually old numbers on a website of little known CU. Good luck getting them.

Are there actually a lot of people who buy cars in the $90K range with zero down, no trade-in? I usually associate 0 down, no trade with much more budget minded cars.

A more typical buyer of cars in that price range (ICE or EV) would typically have quite a significant trade-in, and come with a significant amount of cash for down-payment. Or get a lease for purely business tax reasons.

I’ve found that trade-in prices are often pretty poor especially if you are changing makes. I was offered £15,000 trade in for my Outlander but sold it privately for £17200.
The Dealer would sell on my car rather than sell it on his lot.

Yes and I don’t know what Jag is up to with this 0% deal… Maybe they are trying to make it look like the ipace is hard to sell? My coworker was after one and hit up the local Jaguar dealer in Seattle and got told every ipace they get in is sold within 48 hours. In contrast the 3 local BMW dealerships each have 30+ BMW i3 models (new + used) on the lots. Many of them are CPO from the teaser lease days. I can’t find those teaser lease deals anymore on new i3s, which is a positive sign.

Apparently there are Jag dealers in LA and Texas with dozens of unsold I-Paces on their lots.
Yet you can’t get one for 4-5 months in Europe. Build your own or buy what the dealer has on the lot? You choose.
Oh and AFAIK, the 0% is on all Jags not just the I-Pace

Since Electreks headline is deceiving by saying Jaguar wants to boost EV sales and this article does not explicitly mention it, I just wanted to point out that Jag actually has 0% financing on ALL cars, not just the I-pace.

https://www.jaguarusa.com/current-offers/index.html

Another aspect is there are still a fair number of Jaguar I-Paces on the lots. Mean people are not scooping them up (ie. in demand). Look at the http://www.jaguar* sites here: https://www.google.com/search?q=2019+Jaguar+%22I-PACE%22+models+financing+at+the+APR

Lotta money for short range 234 and no towing.

If I Had to Make Monthly Car Payments That High Plus Insurance, I would start taking Cabs Immediately Or find other means of Transportation..

Model-X is much bigger than I-Pace and also a 7 seater. When it comes to the low production of Tesla in initial days, it because this is a small company struggling to increase production whereas Jaguar is an established company which can turn out 1,000s in the very 1st month.

I hope Jaguar shows more focus on I-Pace and increase the production and dump the diesel models.

Sitting in the IPace at Chicago Autoshow and it is a really nice feeling vehicle. Interior seems nicely laid out, not sure I feel $70,000 vehicle, but it is nice.

I was disappointed by Kona EV, not sure why people think it is so much better than Bolt EV, premium Bolt EV feels very similar quality to Kona EV top of the line. Kona EV does add a couple nice features of course, but I didn’t like sitting in the car as much as the Bolt EV.

Sitting in a Tesla X feels like a $80K-$90K car?

Haven’t tried an X yet, I honestly don’t care about the luxury feel. I actually realized how much I don’t like “luxury” cars and would rather have something more minimal. Tesla is going to do well. The reason I liked the IPace is the design is cleaner than a lot of the other vehicles.

“Supplies are limited. Taxes, title, license and fees excluded. Residency restrictions apply. Customer must take new vehicle delivery from retailer stock by 4/1/2019. ”
So supplies are limited, so why is there a discount?..Supplies are limited but you need to buy out of stock..which are supposedly limited…so a discount on a vehicle that doesn’t exist, or Jaguar is lying about the limited supplies….Com’on peeps.