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Land Rover Range Rover Sport Lease Questions

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  • Thanks, Car_man. The MSRP will prob be around 60900 (luxury package RRSport HSE). I'm looking for a 30 month lease, 10500 miles per year. do you know the residual and money factor they are offering right now? I was recently quoted money factor of .003 which seems kinda high to me. that's like 7.5% rate on your money which is higher than what you could get from most banks if you got a loan.

    thanks.
  • Does anyone know what the money factors and the residual values for a new 2007 RR and RRS for 30 months and 15,000 miles per year on each. I have been quoted 1201.01 per month with a .00344 MF and 61% residual on a new Sport with luxury package. Is this good? I am trying to decide on with one to buy either the RR or RRS. Like both currently have a 2004 RR. Thanks
  • Michigan dealer today quoted me of the following:
    -$53.3k Dealer Cost;
    -$55.4k on the X-plan;
    -10,500 miles;
    -30 months;
    -62% residual and .00315 MF, with 6% sales tax added in;
    -Total Payment of $983.

    Does this sound right/reasonable? $983 is a significant stretch from the $700 payment being discussed/thrown around elsewhere on these boards - any insights??

    Would droping back to a leftover 2006, stepping up to the Supercharged model, or shortening to a 24 or 27 month lease help soften the payment I was quoted? Any help is appreciated - thanks!
  • I just got finished with an exhausting month of negotiations, research and calling different dealers to find a good deal on the RR Sport. I had an A-plan code, but what I found out was that some dealers won't honor it, unless they are in states like Ohio, Michigan, etc... where they do significant business with auto employees. I feel like it's definitely a benefit, but you still end up paying almost the same amount for the car when all is said and done.

    anyway, I just closed on a new 2007 Range Rover Sport HSE with luxury package. That is $3000 option, so the total price of the car was around $60,950. I had an A-plan pricing, and I put $1800 down which includes first month plus destination fee, plus RAG fee.

    36 month, 12000 miles. My price per month is $929 and that includes 8.5% tax. Residual is 53%, and money factor of .003 and change. I couldn't for the life of me find a better deal than that, and believe me, I tried. If your $983 price is including tax, that's a pretty good deal. I got that quote from a few dealers. Nobody seemed to be able to break the $900 barrier. I think if you want to get to $900 you have to wait until they restock their inventories in a few months. In CA, these cars are very hard to find, so supply is outstripping demand and they can charge you more.

    also, the shorter the lease, the more you will pay. they have a term called the "sweet spot" for leases, which right now is the 36 or 39 month. that will get you the best price. also, if you can find a 2006 model, go for it but they are hard to find now. that should get you down to around $900. if you don't want luxury upgrade, you could probably get it around $900. some dude posted here a while back saying he got it for around $896 for 2006. luxury is definitely worth it though, because of the climate control and upgraded leather.

    anyway, good luck.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're welcome, roverboy. Thanks for the additional information. I actually asked you what sort of selling price you expect to pay for this truck. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You certainly should be able to negotiate a discount off of MSRP on the Range Rover Sport that you want. A base version of the Range Rover Sport HSE has a spread of over $5,000 between its full MSRP and its dealer invoice price. Let's say that you are able to negotiate a $3,000 discount on the truck that you want. According to my calculations, if you were to lease a 2007 Range Rover Sport HSE with the Luxury Pkg. that has an MSRP of $60,900 and a selling price of $57,900 through Land Rover Capital Group right now for 27 months with 10,500 miles per year, your zero down, pre-tax monthly payment should be around $985. I used a money factor of .00315 and a residual value of 65%, respectively to negotiate this payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings roverdude. Here is the information that you're looking for. Land Rover Capital Group's current buy rate lease money factor and residual value for a 27 month lease of a 2007 Land Rover Range Rover HSE with 15,000 miles per year are .00193 and 56%, respectively. The numbers for an otherwise identical lease of a 2007 Land Rover Range Rover Sport HSE are .00315 and 62%. These are LRCG's buy rates for these models. Make sure that the dealer that you are working with use these factors to calculate your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi murdo15194. It's great that you are able to purchase this truck through the Ford's X-Plan. It guarantees that you are going to get a good price on it without having to haggle. The money factor and residual value that you were quoted for this truck are right in line with Land Rover Capital Group's current program for it. If you like the truck, I personally don't see any reason not to pull the trigger on this deal. I'm not sure if switching to a 2006 model would lower your monthly payment. It might. The residual values for the '06 are lower, but its money factors are lower too. I doubt that switching to a shorter term will lower your lease payment. Short leases usually have higher payments than long leases.

    Car_man
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  • bogi1bogi1 Posts: 7
    Hey Murdo, you were probably referring to my post.

    I got my RR Sport 06 in November for $893/mo., taxes included. 36 months 15K miles with luxury package & blue tooth integration. It was indeed a great deal. But for 2007, what you got is still a fair deal.

    Norma
  • Can you tell me what dealership gave you this lease pricing? was it in California?
    Thanks,

    Evan
  • bogi1bogi1 Posts: 7
    Evan,

    Yes, it's in California. Land Rover of Anaheim Hills.
    I've compared 3 of them in OC.
  • I am looking into leasing this spring, I had heard that the 08' RR sports will be arriving at dealers in June. Do you think that where it was such a short year for the 07's there might be an inventory of RRS around? If so what about large incentives for these? Thanks in advance!
  • tamarabtamarab Posts: 2
    Hello Carman,
    I leased a Range Rover Sport last year. I feel I may be able
    to get a better deal than I have now through Lowermylease.com. Do you know anything about this service?
    Thank You
  • roverboyroverboy Posts: 26
    what is your lease payment and residual? and what was the negotiated cap cost you ended up getting on the car?
  • ohioguy1ohioguy1 Posts: 1
    If I lease a RRS (not supercharged) in the fall, what could I roughly expect to pay for a 36 month lease if I put 10,000 down on it. Same question with 20,000 down on it.
  • sprsnicsprsnic Posts: 9
    Does anyone know the residual value and money factor for an '07 RRS Supercharged for a 3 year/35 month or a 30 month lease term? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi p_whitney10. Eventually Land Rover will probably introduce dealer cash on leftover 2007 Range Rover Sports to help dealers clear out their remaining inventory. I don't expect this to happen for a number of months though. It is difficult to predict when this will happen or what level of support will be available on the '07 models, but it is probably fairly safe to assume that the dealer cash on them will eventually be similar to the $4,000 that Land Rover provided on the '06 Range Rover Sport at the end of its run.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi ohioguy1. You definitely do not want to put $10,000 or $20,000 down on any lease. If your leased vehicle is totaled in an accident or stolen and never recovered you will likely lose all of that money. I always advise consumers not to make any sort of capitalized cost reduction when leasing.

    I would be happy to estimate what sort of lease payment you would have if you were to lease this truck, but in order for me to do so I need you to provide me with its full MSRP and approximate selling price. Let me know what these numbers are and I'll run some calculations for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here's the information that you're looking for, sprsnic. Land Rover Capital Group's current buy rate lease money factor for a 36 month lease of a 2007 Range Rover Sport Supercharged with 15,000 miles per year are .00333 and 56%, respectively. The numbers for an otherwise identical 27 month lease are .00309 and 61%. If you were to lease this truck with only 12,000 miles per year, its residual value would be 2% higher. Its 10,500 mile per year residual is 3% higher than the 15k resid.

    Car_man
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  • Check this out: Range Rover Sport with luxury package lease: 12,000 miles a year for 30 months. With 3K down i am looking at about a 922 per month payment. The 3K down is on top of fees and first months payment so really total money down is around 4700. Is this something i should jump on or can i do better? I am leasing in or around MASS.
  • roverboyroverboy Posts: 26
    I think that is pretty good deal. tax or no tax? I'm paying $933 for RRSport Luxury with nothing down for 36 month 12000 miles, but that was with X-plan.
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