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Land Rover Range Rover Sport Lease Questions

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  • I just talked to my LR Dealer and wanted to check on rates. He said the MF was .00425. I think that is very high, especially for a credit score well above 700. The residual was 58% for a RRS Supercharged for 24 mos 15K/yr. Anyone else hear of such high MF's?
  • your LR dealer is not lying, the rates on new leases make absolutely no sense.

    A month ago, I leased a 06 RRS SC with 28K miles, 24 mo, 12 k miles. It was less expensive to lease than a new 08 RRS
  • Hey everyone-

    So, television specials usually have fine print rivaling War and Peace in length which is always entertaining to read. But, I just hit pause on my DVR on the offer details screen and there are no shenanigans to speak of for their 60th Anniversary Event. What do you guys think is going on? It is a 4 year lease term which is a year more than is prudent (if there’s anything prudent about acquiring a British automobile). Even so, judging from the previous posts and the preposterous money factors quoted by dealers, something is afoot... The fairly well-optioned X5 I'm comparing it to has a monthly payment of around ~$850/mo for 36 months with nothing due at inception. Here's a transcript of the ad, lifted from the freeze frame:

    Sign and Drive $0 DOWN $799/MO*
    EXCLUDING TAXES, TITLE AND LICENSE FEES.
    2008 RANGE ROVER SPORT HSE, INCLUDING COLD CLIMATE PACKAGE
    AND SATELLITE RADIO. 48-MONTH LEASE.

    *For well-qualified customers only. Not all lessees will qualify for Land Rover Capital Group lease. Includes Retailer cash from Jaguar Land Rover North America LLC. Payments may vary. Dealer determines price. Residency restrictions apply. For special lease terms, take new retail delivery from retailer stock by 9/30/08. See your participating Land Rover Retailer or call 1-800-FIND 4WD for complete details. (c) Jaguar Land Rover North America LLC.

    Thoughts?
  • hehe, very funny

    There is nothing afoot, LR Capital rates aren't very good, bottom line. They may change tomorrow....who know's!

    btw, if you don't like that lease, you can take the 6 or 9k cash & try Chase or US Bank. I'll bet you won't like the rates either.

    Right now, unless the programs have changed, it makes more sense to lease a used RR 06 or 07 from LRover Capital
  • Thanks for the replies. Makes me feel better that he is not lying to me. If LR Capital changes the rates, please update the forum with what they are.
  • Hi roverdude. Land Rover's lease program on the Range Rover Sport is unbelievably bad right now. Its buy rate lease money factor is currently .00394. This is slightly better than the factor that you were quoted, but still terrible. It's equivalent to an interest rate of almost 9.5%. Anyone who wants this truck would be better off financing it, paying cash for it, or leasing a luxury SUV from a different manufacturer.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Just leased an 08 RRS in So Cal. $63k list, $56k purchase price, 48 month lease with US Bank, $830 a month plus tax. Just drive offs due, no cap cost reduction. Residual is brutatl right now, in the 32% range and the money factor was around .0020. Hope this helps people, its the best I could find around Los Angeles.
  • Hi mmalonso. Thanks for taking the time to share the details of your lease with everyone. I'm not surprised that the dealer that you worked with ran your lease through an independent bank. Land Rover's lease program for the 2008 Range Rover Sport is absolutely horrible right now.

    If you'd like, you can stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • What is the best lease deal with zero down for 36 months for a Land Rover Sport?
  • Hi joelpalmer. The lease payment for a Range Rover Sport will depend upon how it is equipped and in turn what its MSRP and selling price are. I would be happy to work up a sample payment for you on the exact truck that you want if you provide me with these numbers. If you haven't gotten them from a dealer yet, you can hop on over to the New Vehicle Pricing section of Edmunds.com and look them up there. Let me know and I'll crunch some numbers for you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I have limited lease knowledge. Could someone quickly check this and let me know if it's a good deal. I may close tommorow. All the research Ive done shows that it is. Im worried about the residual, money factor. The sell price is good due to incentives.

    36 month lease, 15k per year.
    MSRP $73450
    Sell Price $56900
    Doc Fee $225
    Acq Fee $795
    Residual-36%
    12k down payment
    State Taxes-3%
    Money Factor-.00225
    Rate-5.4%
    monthly payment-$818.90

    Buying is not an option. My accountant wants me to write the lease off as a business expense.
  • Hi Arlingtonva1,

    Not sure if you purchased your sport, if you did not I can help you understand the process, and double check your deal for you.

    Rover-Guy
  • Does anyone know that current lease rates for 08 and 09 Range Rover Sports 24/30/36 months 15k/yr. Thanks
  • Hi roverdude. Here's the information that you're looking for. Land Rover's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Range Rover Sport HSE with 15,000 miles per year are .00018 and 60%, respectively. The numbers for an otherwise identical 36 month lease are .00027 and 48%.

    Land Rover is not providing lease support on 2008 models any longer.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_Man - I live in the NYC area and there are some good lease programs for RRS. The dealer is offering a '09 for - 10K/year a year, 39-months, taxes rolled in, with first payment, motor vehicles and bank fee out of pocket (~$2000), the lease is ~840/month. Note: taxes in NY are 8.625%

    Is this a good deal?
  • Looking into leasing one of the above for 24 months or 30. What is the current MF, and Residual Value on a 2009 RR or RRS? A dealer quoted me an aquisition fee of $795 but I saw in previous posts that its usually $595. Has this gone up? I'm in Texas by the way.

    Looking for Alaskan White with alpaca seats and walnut wood trim luxury package interior and rear entertaintment system with sirius radio. What would be a good deal considering the above?
  • mlad11mlad11 Posts: 19
    If you dont mind me asking, where in NYC are you getting those numbers from? I am in NYC and in the market for the same car and that seems like a decent price, although i would need 15k per year. So if you could let me know which dealership that would be great. Thanks in advanced.
  • mlad11mlad11 Posts: 19
    Ended up getting one from Land Rover of Paramus yesterday. 2009 RSS Luxury Package 36 months 15k/year. First month, Bank Fee, Doc Fee and DMV charges upfront(around $2000) and $899/month with taxes rolled in. Thoughts?
  • Does that MF & residual apply to a RRS supercharged model as well. Thanks
  • Hi rr4mywife. Land Rover's lease program on the 2009 Range Rover Sport is surprisingly decent right now. If you were to lease an '09 Range Rover Sport HSE right now for 39 months with 10,000 miles per year, I believe that its buy rate lease money factor and residual value would be .00048 and 48%, respectively.

    It is difficult for me to evaluate the specific deal that you mentioned in your post without knowing what the truck's MSRP or dealer invoice price AND its selling price are. The prices of leased vehicle 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 dealer discount you are being given. Let us know what these numbers are and I'm sure that either myself or another knowledgeable community member will be happy to tell you what they think.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.