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Jaguar Gearing Up to Lease Used Cars

February 07, 1994|From Associated Press

CHICAGO — Still trying to persuade would-be Jaguar owners that they can trust as well as love the cars, the British luxury car maker plans to begin widespread leasing of used models within a year.

A reputation for poor quality and oft-told tales of frequent breakdowns has been hard to shake.

But Jaguar's quality rankings are improving rapidly under the tutelage of Ford Motor Co., which bought the company for $2.5 billion in 1989.

Michael Dale, president of Jaguar North America, said that when the current crop of leased Jaguars returns beginning late this year, a used-leasing program should be in place. He refused to estimate the likely monthly payment on a used lease but said it would be hundreds of dollars less than the $579 monthly payment on a new lease.

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