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Land Rover Range Rover Sport Lease Questions

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  • I live in New Hampshire... so i will not be paying excise or sales tax. Registration will cost around 1K. I think it is a pretty good deal...
  • rrsfanrrsfan Posts: 6
    Sorry for such a basic question, but I couldn't find the answer, so here it goes.
    How can I come up with the lease payment, if I know the Money Factor, MSRP, down payment, lease-end buyout,duration of lease & what is Cap reduction tax that is part of out the door price.
    Thanks
  • kyfdxkyfdx Posts: 29,225
    Still need one more variable: The selling price (or the CAP cost).

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • rrsfanrrsfan Posts: 6
    Yes, I do have selling price (MSRP minus negotiated discount). What is the difference between CAP cost & selling price? I thought they are the same. Of course any down payment would still reduce the actual paid price further. Thank you for your quick reply.
  • kyfdxkyfdx Posts: 29,225
    The net CAP cost is the selling price, less any downpayments and plus any additions not paid upfront (acquisition fee, etc.)

    (Net cap cost - residual) / term = monthly depreciation

    (Net cap cost + residual) X money factor = monthly finance

    Monthly finance + monthly depreciation = monthly payment

    Plus tax, of course.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • rrsfanrrsfan Posts: 6
    Thank you very much. That does make sense & thnx for walking me thru'.
    Now I have to decide, whether to lease or buy. Lease will allow me to walk away, if RRS is problamatic, but I feel optimistic @ the quality. N.Y.Times have a good article @ LR2 & increasing quality of Ford's British division.
  • osvpiosvpi Posts: 8
    Car man: I have been quoted the following ona 2007 RRS HSE:
    Sticker: $65,350
    Sales price: $63,350
    Money factor: .00333
    Residual: 57%
    Term: 36 months
    Are these terms in lines with what you have seen?
    Ozzie from Miami
  • gasdocgasdoc Posts: 13
    I just negotiated a RRS SC with X-Plan Pricing:
    Problem is, I think the MF is insanely high.
    I'm doing a 36mo/15K Lease.
    MF I'm being quoted is 0.00433.
    56% residual.

    Doesn't this MF seem high?

    Any body know the current MF? Do most dealers add-on to the base MF?

    Thanks
  • lr3maybelr3maybe Posts: 134
    I have a certificate that will save you $2000 or $1500 I will sell. Make your email address public and reply and I will email to you. I can send you a scan of the certificate and the cover letter if you would like to see it.

    There is a place on the certificate where I can sign and transfer it to a friend.

    Exact wording on the certificate is as follows:

    Save $2000 on a new 2007 Range Rover HSE*
    Save $1500 on a new 2007 Range Rover Sport HSE**
    Save $1500 on a new 2007 LR3 V8 HSE, SE, or V6 SE

    *Offer valid on purchase or lease of a new, previously untitled 2007 Range Rover HSE (excludes Supercharged model) from 4/16/07 to 6/30/07. **Offer valid on purchase or lease of a new, previously untitled 2007 Range Rover Sport HSE (excludes Supercharged model) from 4/16/07 to 6/30/07. Offer valid on purchase or lease of a new, previously untitled 2007 LR3 V8 HSE, SE or V6 SE from 4/16/07 to 6/30/07. Present this certificate to Retailer and take delivery from Retailer stock by 6/30/07. These offers may not be combined with any other private purchase offer. Limit one redemption per household. These offers exclude demonstration vehicles and service loaners. For current lease customers, these offers may not be combined with the Early Lease Termination offer. See Retailer for complete details.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello Ozzie. The lease money factor and residual value that you were quoted are right in line with Land Rover Capital Group's current program for this model. This is a good thing. I am not personally all that familiar with what the market for the Range Rover Sport is like right now, but I get the impression that it is selling pretty well so the $2,000 discount that you were quoted may not be that bad. Having said this, the truck that you described has a spread of more than $5,000 between its full MSRP and its dealer invoice price so it definitely wouldn't hurt to try to negotiate some more with this dealer or comparison shop a little bit. There's no guarantee that you will get a larger discount than this, but it wouldn't hurt to try. You may want to try stopping by the following discussion to see if any other community members have purchased similar trucks lately: "Land Rover Range Rover/Sport: Prices Paid & Buying Experience".

    Car_man
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  • british_roverbritish_rover Posts: 8,476
    The market on sports is fairly tight right now and I expect it to stay that way right up until when the 2008 MY vehicles get here.

    I wouldn't do more then 2,000 dollars on a sport I had in stock unless the buyer offered me some additional incentives.

    If the buyer had a really nice trade that I wanted or was a repeat customer I might go more then 2,000 dollars but not much more.
  • gasdocgasdoc Posts: 13
    Is $1100 for my dealer to get me the exact RRS SC I want from an out of state dealer too much money?
    Got it at X-Plan with base MF on the lease.

    Car_Man, british_rover: Should I pull the trigger on this deal? :confuse:
  • british_roverbritish_rover Posts: 8,476
    1,100 dollars for shipping???

    How far away is the other dealer? Is it an enclosed trailer?
  • gasdocgasdoc Posts: 13
    I'm waiting on him to get back to me with the info on the dealer it's coming from. I'm in Texas, so if it's coming from another state it should be traveling a pretty good distance. If that's the case, and they use an enclosed trailer, is the $1100 a fair charge?
  • british_roverbritish_rover Posts: 8,476
    Yeah that is about right for shipping one car enclosed over that kind of distance.

    I am spolied with our own trucks and trailers for swaps so the costs are much less then market price.

    I have a guy that does point to point enclosed shipping for me sometimes. His average rate is one dollar per mile for me but he charges other people a little more.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings gasdoc. The fact that you can purchase this truck through Ford's X-Plan is a good thing because it guarantees that you will get a great selling price without having to haggle. You're right about the money factor though. It is definitely too high. Land Rover Capital Group's current buy rate lease money factor for a 36 month lease of a 2007 Land Rover Range Rover Sport SC is only .00333 for consumers who qualify for its top credit tier. Make sure that is the factor that the dealer you are working with uses to calculate your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks for the confirmation, british_rover. I suspected that was the case.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gasdoc. $1,100 for a dealer swap sounds like an awful lot of money to me. That sounds pretty high to me. Perhaps there is another Land Rover dealer around that has a similar truck to the one that you want. I have to say though that X-Plan plus the buy rate lease money factor is a very attractive deal.

    Car_man
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  • Car_man, what would be your prediction for the money factor due out shortly in the 2nd quarter for the RRS?
  • hi ...i currently am looking to buy a 2007-2008 rr sport.i find it very frustrating..i went to the benz dealer with my sister to buy a 2007 e350.it cost 58k she put down 6k.for 26month lease her payment was 435plus tax..so i went to the rr dealer the truck was $57,900 and the payment was over $1000 why.this what im trying to do i wanna put down $7k to $8k down..i want a lease between 24months and 36 month but i have a 2003 hummer h2 i wanna trade in.it has 60k miles and its fully loaded...i still owe 39k.i know im upside down.i want my payments between $700 and $800 can it be done and how can i get the most for my trade.retail the trucks worth 36k and the dealer offers $25k to $29k...iv beenhigh dollar cars for almost 20years .i found it to be a game with dealers/all you have to do is find a guy who really wants to sell you a car and not trying to rip you off
  • what is the correct money factor wene leaseing 24 to 36th months is it better on a longer lease...iv also noticed that ussally the shorter the lease the higher the payment but through benz thats not true ...shorter leases have lower payments why is that
  • gasdocgasdoc Posts: 13
    I too would like to know if anybody has any info on the MF's since I'm about to pick-up my RRS S/C'd on Wednesday and I haven't signed anything yet. Help.....
  • Norma,
    So I assume that you got them to deal at less than invoice price (because of the $4000 dealer cash provided back then)?
    If so, what was the selling price of the car and the money factor you got this for? I am desperately looking for a deal on the RRS HSE and seeing that the 08 models are due soon looking for a similar deal that you were astute enough to get.
  • Did you pick up the car gasdoc?
  • To the experts in this forum, please help out here. I am looking to lease and looks like I can grab a deal that's in the low $900 with no cap reduction on a RRS HSE with luxury package from what I've been reading - esp. with the new 08 model out very shortly. What are my chances?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi standardauto. It is difficult to say exactly what Land Rover will do with its third quarter lease program for the Range Rover Sport. If I had to make an educated guess, I would say that its lack of lease support on this model will continue and that its residual values will drop by a point or two making it more expensive to lease in July than it is now. Again though this is just a guess.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi herculesjefff. Mercedes-Benz is providing quite a bit of lease support on the E350 Sedan right now, but Land Rover is not providing any lease support on the Range Rover Sport. As a result, even though these two vehicles' MSRPs are similar the Range Rover Sport will be much more expensive to lease right now.

    I see that you are considering making a $7,000 to $8,000 down payment on your lease. Even though your monthly payment would be higher, you would be better off going with a zero down lease and keeping that money in the bank. I always advise consumers against making large down payments on leases. Those who do risk losing all of part of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. There's nothing wrong with trading in your Hummer when you lease your new Land Rover, just have the dealer cut you a check for any equity that you have in it rather than using the proceeds as a down payment. If you are upside down on your trade, you will either have to pay that money out of your own pocket or roll your negative equity into your new lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey herculesjefff. Land Rover Capital Group's current buy rate lease money factor for a 24 month lease of any 2007 Range Rover Sport is .00306 for consumers who qualify for its top credit tier. Its money factor for a 36 month lease of this truck is slightly higher at .00333.

    You're right that generally speaking the longer a lease is, the lower its monthly payment will be. This is because new vehicles experience their most rapid depreciation during the first year of ownership. The longer a lease is, the more payments there is to spread out the large initial depreciation hit out over. From time to time certain manufacturers will provide extra lease support on 24 month leases to encourage the leasing of select models for a shorter term, but more often than not short leases are more expensive than long ones.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi standardauto. Let's work up a sample lease on this truck and see what we come up with. Its monthly payment will depend upon the selling price that you are able to negotiate. The MSRP of a 2007 Land Rover Range Rover Sport HSE with the Luxury Package is $60,950. For now I will assume that you will be able to negotiate a $1,500 discount on this truck. Let me know if your actual discount is higher or lower than this. According to my calculations, if you were to lease an '07 Range Rover Sport that has an MSRP of $60,950 and a selling price of $59,450 through Land Rover Capital Group right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $1,015. It doesn't look like you are going to be able to get this truck for the $900 per month that you are looking for. You'd have to get this truck for around dealer invoice for that to happen and given the lack of lease support on this model right now I suspect that you won't be able to find a dealer that is willing to sell you one for that low a price. You may want to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Land Rover Range Rover/Sport: Prices Paid & Buying Experience".

    Car_man
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  • british_roverbritish_rover Posts: 8,476
    There aren't many 2007 Sports around right now so no big discounts. Maybe if you catch a demo or at the end of the month if someone is one sale away from an objective but that is it.

    Also think how many more E350s Merc sales compared to Range Rover Sports. I bet Mercedes sales more E-classes in the US then Land Rover sells vehicles period. All of that volume allows them to put support behind the vehicle that Land Rover can't and/or won't do.

    The reason dealers aren't discounting 2007 RRS is because there are not many out there.

    I think I even said this would happen back last year when people asked of the 2007 MY discounts would equal the 2006 MY discounts. With 2007 MY being a short production run I didn't think there would be the need to discount the 2007 MY vehicles like the 2006 MY cars were.

    At the end of the 2006 MY Land Rover put 4,000 dollars of marketing support behind the RRS. So far Land Rover has not put a penny of support behind the 2007 MY RRS.

    Some dealers are sold out of 2007 Sports. I am.

    I just checked in new england and right now there are 112 HSE Sports showing unsold in dealer inventories. There are only 40 SC Sports unsold in dealer inventories. That is only about 11 sports per dealer if you divide them all evenly which of course they are not because some of the dealers are HUGE and some are very small.
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