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Land Rover Range Rover Lease Questions

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Comments

  • Carman

    I am getting the following deals both for 24 months:
    RR Sport HSE - $1067 a month/15k miles with only First month payment, tag & title out of pocket.
    RR Sport Supercharged - $1347.34/15k miles (same as above).

    I am looking to bring down my payment to around 1k for Supercharged. Can I get it down by reducing my miles to 12k and leasing it for 36 months instead?
    What should the money factor be for both 24 and 36 months?

    Thanks
  • donchardonchar Posts: 22
    Hey Car_Man, why are the money factors for RRS.SC up so much recently? Late last year, you were posting in the high teens to low 20s and now they seem to be in the 30s! Additionally does any one know what the typical markup from auction or trade-in is? Thanks everyone.
  • jbratxjbratx Posts: 40
    Does anyone know when the 2009s will be available?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi alwaysarookie. Reducing this truck's mileage allowance would definitely lower its monthly payment. Getting the dealer to lower its selling price would as well. Did you negotiate the selling price? If not, you definitely should do so. As far as the length of this lease goes, normally 36 month leases have lower monthly payments than 24 month leases. However, Land Rover appears to be steering consumers towards 2 year leases of this truck by offering lower money factors on that term. It is difficult for me to tell off of the top of my head which term will provide a lower monthly payment.

    Land Rover Capital Group's current buy rate lease money factor for a 24 month lease of a 2008 Land Rover Range Rover Sport HSE with 15,000 miles per year is .00224. The factor for a 36 month lease of this truck is .00260. The numbers for 24 and 36 month leases of an '08 Range Rover Sport Supercharged are .00162 and .00211, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rsinghflrsinghfl Posts: 3
    I am looking to lease RR HSE with entertainment package. My 2006 is up for lease, and the 2008 I am getting is with 2k out of pocket, 12k miles, 24 month and 1200/month is this a good lease?My 2006 was 1070/month with 2500 out of pocket but it was for 10500/miles and didn;t have a entertainment package.
  • rsinghflrsinghfl Posts: 3
    I am looking to lease RR HSE with entertainment package. My 2006 is up for lease, and the 2008 I am getting is with 2k out of pocket, 12k miles, 24 month and 1200/month is this a good lease?My 2006 was 1070/month with 2500 out of pocket but it was for 10500/miles and didn;t have a entertainment package. This is in NJ.
  • rsinghflrsinghfl Posts: 3
    Car_man:

    I am getting a RR with rear entertaintment from 3 dealers for 1200/month, 12k miles, 24 month lease and total 2k out of pocket. I am a current RR customer so do get the 2k royality. Is this a good deal or can I do better. My current RR was for 1097 but it was for 10,500 miles/year.

    Also how much should be added for a luxury package?

    Please advise.

    Thanks
  • Hi Car man,

    RR leases used cars. I found that out today when I looked into very nice and well equipped HSE. But the money factor the dealer showed me was horrible. here are the numbers. '06 RR HSE MSRP 41,000 adjusted cap $38,500, 36mo, 12K miles per year. Residual is 28% but that is on the original 77,000 MSRP. Money factor - 0.00495. payment came before tax 711. 12% interest seems outrageous right now and i was wondering if that's a dealer scam or special interest applies when leasing a used vehicle. thanks
  • okaasokaokaasoka Posts: 2
    I was shopping around to get another Range Rover lease and I was wondering if anyone found a good deal. my current lease is $994 and change with 12k for miles @ 24 months. i had to put 2,000 down for that payment. i figured the way the market was maybe someone knew of something better?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rsinghfl. The best way to tell if you are getting a good deal on a lease is to take a look at its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how much of a discount you are getting on your truck. Not surprisingly, given the current gas prices, Land Rover sales have been pretty slow lately. If you are in an area that has a decent level of competition, I suspect that you will be able to get a pretty good deal on one. If you share the pricing data with everyone, I am sure that a knowledgeable community member will be happy to give you their opinion of your deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jbratxjbratx Posts: 40
    With gas prices as high as they are and Land Rover sales being down about 25%, would it be better to lease or buy in the current economy? I don't want the the value of my car to drop dramatically by next year when gas is $5.00 a gallon. Thoughts Anyone...
  • 2 reasons I chose to not buy my range rover sports.

    1. What happens with quality now that it is owned by a 3rd world mfr.?
    2. The pathetic gas mileage the truck gets on premium gas

    It is absolutely positively the best vehicle I've ever owned with the exception of the gas mileage and the ineffective, cumbersome navigation system.

    You mentioned that gas will be $5 next year. Here in Big Bear Lake, Ca.... (mountains of southern california) Premium gas is already over $5/gallon since June 6, 2008
  • trover1trover1 Posts: 1
    Dealer is offering me a lease on a 2006 RR HSE with 48000 miles. The lease is for 3 years . $1500 out of pocket, 12000 miles per year, $598+tax. Is it a good deal?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jbratx. I thank my lucky stars every day that I am currently leasing my truck. Its resale value has dropped by thousands of dollars over the past several months. While it is virtually impossible to predict the short-term price of oil, and in turn gasoline, I personally believe that high prices are here to stay. Most manufacturers' captive finance companies have not made the necessary adjustments to their vehicles' residual values and they are going to get crushed when the trucks that they are leasing come back at lease-end. Better them than you. If you want a truck, to me leasing is a no-brainer...at least until their residual values become more realistic.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jbratxjbratx Posts: 40
    Thanks for the advice Car_man... It's greatly appreciated.
  • lrrrlrrr Posts: 1
    Car_man, I was quoted $1169/mo. incl. taxes for an $80,950.00 '08 Land Rover Range Rover with rear ent. package. 24 month, 10, 500 yr. 0 down. 1st. month's due at signing. Is this a good deal. Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, jbratx.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jbratxjbratx Posts: 40
    Just a quick poll... With the current state of the economy and high gas prices are you finding that your getting offered better deals, worst deals, or about the same... Thanks
  • lulbertlulbert Posts: 1
    how much am i expected to pay total to lease a used range rover?
  • Hello All,

    Don't know if will get any responses, last post was in Aug. Hopefully will start the discussion up again. Carman you seem very knowledgeable on the subject.

    I am looking into leasing a 2008 Range Rover HSE, with no options msrp $78,450. My deal to do a lease for 24 months was as follows:

    MSRP-$78,450
    Selling Price-$61,000
    Res-40% ($31,380)
    mf-.00365
    -Around $6,081.98 COD (give or take a couple of dollars Depending on plates, Tax Juresdiction)
    $1,265.70/Month for 24 Months
    -Deal Good thorugh Monday (11-8-08)

    probably going to do it. Just wanted to check to see if this is a good deal considering the horrible residual values and money lease factors going on right now.

    Any feedback is greatly appreciated.

    Thanks.
  • Hi nyrangrover1,

    I am not exactly sure how leasing works in NY – but I can provide you with the following...

    MSRP-$78,450
    Invoice: $72,159
    There is $12,000 dealer cash / and there should also be a $5000 lease rebate (applied as cap-reduction) or if you are going through LRCG a $5750 lease rebate. A net selling price of $61,000 is a very respectable deal, it means the dealer is grossing approx $500 if they are including floor mats, even if they charge you for the mats the selling price is a good deal.

    LRCG tier “0” should have a .00321 (tier 1 = .00350 more commonly seen as tier 0 is a bit harder to obtain in with today’s lending standards)

    Money factor / 40% Res,15k per year.

    Roughly, I estimate an effective payment of $1,149 + tax, with $6082 total due at lease inception. (I am basing this on CA doc and tax fees NY may be a bit higher). So if the $1,265 is a tax included payment it sounds like you have a pretty air tight deal.

    I hope that helps..

    Rover-Guy
  • Hello,

    I'm currently in an '03 RR HSE CPO lease that is 36/mo $650/mo with 15k/year. Great deal IMHO. Car had all the bells and whistles that were already 100% depreciated (brush bar, side steps, rear grate, tow kit, rear entertainment, etc.) and came with full CPO warranty for term of my lease. I picked up the car in 2/06 with 20k miles and returning it 2/09 with 65k miles.

    I want to do another CPO with an 06 or 07 RR HSE. 06's are trading around $45k and 07's are closer to $55k (these are dealer CPO prices).

    Questions:
    1. How much are CPO leases going for on the 06's and 07's? Does anyone have recent experience? Further, does anyone know of residuals or money factors used for CPO market?
    2. Are there any incentives available where rr can pull you forward into a new CPO lease and forgive 2 months of payments on old lease or do they just build that into the new lease?
    3. Is it worth waiting for any reason? Incentives, more 07's will hit market soon, etc.

    Thank in advance,

    Seth
  • Hi Rover-Guy,

    thanks for your feedback. Makes me feel a little bit more comfortable with the deal I am going to sign later today.

    Yes, the $1,265/month payment was assured by the salesman as a total payment. This is his exact words:

    -The COD is comprised of first month payment, taxes and DMV fees (Reg, License, etc) If you would like to put money down, then the monthly payment will drop.
    -The monthly payment is total monthly payment (Taxes are In the COD)

    So, according to him the taxes were paid in the initial inception fees payment.

    So, I guess this is a good deal. I'm going to go ahead and go with it. All this negotion was done through email. I just hope that when I get to the dealership today, the paperwork will reflect what we negotiated through the email.

    Well I'll keep everyone posted on what happens.

    Thanks again Rover-Guy.

    NYRangeRover1.
  • You are welcome! - again sounds like you got a good deal. Let me know how it goes.

    Rover-Guy
  • Hi Seth,

    Currently I can not find any information on a CPO lease. US-Bank used to be the go to source but since they have dropped out of pre-owned leasing, I am not sure exactly where to lead you, as LRCG does not lease pre-owned any longer.

    Rover-Guy
  • I don't know if I should accept this deal or not. I was in the market for a 2008 Range Rover HSE and to make a long story short it's a 36 month lease 10,500 miles a year no money down except the mandatory fees which comes out to $1100.00. My monthly payment is $1,097.00 a month. Also Range Rover will be paying the last month of my lease that I'm exiting which is $754.00. Is this a good deal or not before I sign any papers :confuse: :confuse:
  • 754.00 good if that is your payment for 36months. I have a loaded HSEwith tv's u name it lux package 32 months lease 12,000miles No $$ down & my payment is in 938 & change.
  • No. I pay 743.00 for my current car lease. Range Rover will be paying the final payment to get me on their team. The Range Rover lease is $1097.00 for 36 months.
  • Wow akaasoka,

    sounds like you got a real good deal. I pay more and have no options.

    Well, just to keep everyone updated mainly Rover-Guy, all the papers are signed, I drove off the lot with the ranger rover today. Very nice truck. The dealer tried to give me a 12K mile p/year when we initially agreed to the 15K. So he was a little pissed he couldnt pull that one over on me.

    Only thing that concerns me is that the paperwork says the exterior color of the truck is a Sintori Black or something like that, its kind of a flat dull black when you look at it. Not Java Black which seems a little bit brighter and glossier.

    NYRangeRover.
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