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Land Rover Range Rover Sport Lease Questions

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  • i just leased a 2008 range rover sport, and trade-in my old SUV for 14,000. For 36 months lease I am paying 830$ a month. isn't that horrible?
  • That is. Is there a 3 day period where you could still back out of it and reneg?
  • If it is so horrible why did you sign the papers? Sports are leasing between 1,200 and 1,400 a month depending on equipment level and mileage.

    What mileage is your lease for and what options does your sport have?
  • WHICH IS THIS A GOOD DEAL OR IS IT A GOOD DEAL?
    2008 Range Rover Sport w/luxury interior package, satellite radio and rear seat entertainment (Option #2 or #3 seem to work best).

    MSRP: $64,400
    Your Price: $62,185

    Option #1
    24 months; 12k miles per year; taxes up front
    Money Factor: .00250
    Residual: 68%
    Monthly Payment: $1,031.32

    Option #2
    30 months; 12k miles per year; taxes up front
    Money Factor: .00263
    Residual: 64%
    Monthly Payment: $970.91

    Option #3
    36 months; 12k miles per year; taxes up front
    Money Factor: .00213
    Residual: 54%
    Monthly Payment: $971.33
  • dcoreydcorey Posts: 1
    Being told by Dealer that Land Rover has added 3 months to it's 3month pull ahead program. Does anyone know if this is smoke and mirrors? Buying/Leasing a RRS S/C and turning in LR3.
  • Yes it is now six months early out on all Land Rover models. Previously it was three months early out and it only applied to 2008 LR3s.
  • Here's the information that you're looking for, 65wagon. Land Rover Capital Group's fourth quarter buy rate lease money factor and residual value for a 24 month lease of a 2007 Range Rover Sport HSE with 10,500 miles per year are .00200 and 67%, respectively. The numbers for an otherwise identical 30 month lease are .00257 and 54%.

    Car_man
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  • Hi bogi1. Unfortunately the three day recision period for new vehicle purchases is a myth. Once you have signed the paperwork for your lease and drive off of the lot in your new vehicle, you're stuck with it. This is why it is extremely important to research any new vehicle purchase prior to finalizing any deal. Don't let the fact that you might be paying a little more than others for your new Land Rover ruin the wonderful experience of getting a new vehicle for you. Just chalk this up as a learning experience and do more research on your purchase or lease next time.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi antonella. The truck that you are interested in probably has a spread of around $5,400 between its full MSRP and its dealer invoice price. That puts the selling price that you were quoted at around $3,200 over invoice. I think that Range Rover Sports are selling pretty well, but I do not know what the going rate for one is in your area. There is enough room here that it wouldn't hurt to comparison shop a little bit to see if you can find a dealer that is willing to give you a larger discount. The money factors and residual values that you were quoted look good to me.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man, thank you very much!
  • You're very welcome, antonella.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man -
    I'm interested in a 2008 RR Sport HSE with Lux and Satellite..I also have the X plan. The dealer quoted me a MF of .0036!! This seems very high..Can you confirm the current MF? I'm looking to lease for 30 months, 15K Miles...The residual is 60% I believe.

    Thanks for the help.
  • kerbkerb Posts: 96
    Carman, would be so kind as to provide me with the residual and MF on the above referenced vehicle for 24, 30 and 36 months with 10.5 and 12K miles. Additionally, are you able to confirm that the acquisition fee is $595 and if there is an additional $700 in advertising fees, etc. on each vehicle. Furthermore, are there any incentives in terms of certificates from Land Rover (similar to the $1500 certificates for the '07) models or marketing support. Finally, when do these residual and MF figures change?

    Many Thanks,

    Steve
  • Hi cstaten. You may want to find a different dealer to work with. The money factor that you were quoted is definitely too high. Land Rover Capital Group's current buy rate lease money factor and residual value for a 30 month lease of a 2008 Land Rover Range Rover Sport HSE with the Luxury Package with 15,000 miles per year are .00263 and 62%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Here you go, Steve. According to the latest information that I have seen, through the end of the year Land Rover Capital Group's buy rate lease money factor and residual value for a 24 month lease of a 2008 Range Rover Sport HSE with 12,000 miles per year are .00247 and 69%, respectively. The numbers for an otherwise identical 30 month lease are .00261 and 65%. The numbers for an otherwise identical 36 month lease are .00291 and 55%. The residuals for leases with only 10,500 miles per year would be 1% higher. Land Rover Capital definitely charges a $595 acquisition fee on every vehicle that it leases, but I'm not familiar with the advertising charges that Land Rover tries to pass on to its dealers. Land Rover is not currently providing any cash incentives on this model.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jsd39jsd39 Posts: 5
    Hi, I'm new to leasing and a very poor mathematician, and am curious what you think of the following quote for a 2008 Range Rover Sport with luxury package and satellite radio, 24 month lease with 12,000 miles per year: $10,000 total due at signing, $823 per month. This is apparently a residual of 68% and a lease rate of .00285, with a $1,500 discount off of list price. I'm told that these payments include both sales tax (6%) and property tax (which seems somewhat unique to Land Rover). I know that putting this much down on a lease isn't recommended, but it gets my monthly payments into my comfort zone. Is this a good deal, or if not, what should I expect my monthly payments to be with a $10,000 down payment? Thanks a lot!
  • Dude, this is NOT a good deal at all. First of all, do not put that much money down. Just don't do it. It's not smart. I know you want to get your "comfort level" payments per month, but that's irrational and frankly idiotic. Hate to be blunt, but it's just honesty. You should look to pay around $1000 per month, with NOTHING down for that car. Period. If you divide your 10k down payment by the term of the lease (let's say 36 month), that's $277.00 per month that you are paying in your down payment. So if they are saying your monthly is $823, you have to incorporate the $277 and so you are really paying around $1100 per month, which is way too high.

    also, there is no property tax. that is a total scam. never even heard that one before.

    take a look at swapalease.com. you should be able to get your payments down to under $1000 or near it (this includes tax) without paying any down except for title and registration, and destination fee.
  • The only thing right in your whole post is that you shouldn't put that much down on a lease.

    Everything else is wrong.

    All Land Rover leases through Land Rover Capital Group include property tax. It is not a Scam, it is not wrong, it is not the dealer trying to screw you out of 60-100 bucks a month it is how the lease is structured and it is a better way to do it. You will not get under 1,000 dollars a month for a Lux interior range Rover sport with nothing down. I just ran that lease using the numbers he provided and with $1,600 out of pocket he is just over 1,200 dollars a month including property and sales tax.

    In order to get under 1,000 dollars a month with nothing down on a 24 month 12,000 miles a year lease on that Sport they dealer would have to sell it for a 1,000 dollar loss which they aren't going to do. What he should do is increase the term to 30 months which will put him under 1,150 a month if you keep everything else the same.

    Come in on a 30 month 12k a year lease and about 5,000 in cash to get you at around 1,000 dollars a month.
  • jsd39jsd39 Posts: 5
    Okay, thanks. Other than the fact that no one likes the idea of me putting $10k down, using my numbers, does the $823 sound about right if I was to pay that much up front on a 24 month lease? I'd like to use this as a basis for knowing if I'm getting screwed or not, so I'll know how to deal with the dealer. Having said that, perhaps your suggestion of $5k down, $1k per month for 30 months, makes good sense -- except for the fact that I'm not sure if I'll want to keep the car that long. Thanks again!
  • BR - assuming their are fair lease programs on RRS '07's available, could the combination of the $4k marketing support (shown here on E.com) plus the $1.5k coupon position one for a more attractive lease deal than on an '08?

    Second - any updates as to US diesel availability any time soon?

    thanks
  • I agree that you should put 5k down and extend the lease for a year. the sweet spots are usually around 30-36 month leases. But the thing that people get screwed on is that they don't treat their down payment as part of their monthly payments. and they don't factor in tax. You have to realize that a down payment is essentially amortized over the life of the lease, plus you lose interest on that 5k that you would get if you invested it for 3 years instead. that's why you should try to make smaller down payments even if the monthly price goes up. does the $823 include tax?

    and take a look at swapalease. they are ads from DEALERS, and then you call the dealer. it's better than any deal you'll get.
  • jsd39jsd39 Posts: 5
    Yes, the $823 includes both sales and property tax. I checked on swapalease and called one dealer, and its deal was actually very close to this one if you add in the property tax.
  • chop4chop4 Posts: 1
    I'm in the market to either buy a 2008 range rover sport or lease. i'm confused to which makes more finacial sense. these dealers do not seem to want to make any kind of deals on these cars. what price would be a good deal on a 2008 standard sport or would a 2008 lux be a better choice. buy or lease? this car really comes without any extras. racks, tow hitch...etc. what to do to get a good deal. would it be benefical for me to get a 2007 if i could find one?
  • I was offered RRS w/ lux and rear entertainment (MSRP 64,400) for 3.5k off. I have the coupon that i got in email a few days ago for another 1.5k off. should i go for it or look around a bit more? thanks
  • uecuec Posts: 4
    Greetings Car_Man,

    Could you please share any residuals and money factors for 2008 RRS 36mo & 48mo with 15,000 mi/yr with Land Rover financial and US Bank if possible.

    Thanks a lot!
  • jbratxjbratx Posts: 40
    What's the difference between going through the dealership and car leasing companies? They say they offer better deals. Does anyone have any experience leasing through one of these companies?

    i.e ( http://www.phillipsautoleasing.com/ )

    - Thanks
  • eights38eights38 Posts: 137
    jbratx - Car leasing companies typically receive lower prices due to strong relationships, knowledge of all rates, residuals, and incentives, and higher volumes. Do your research, visit the dealer, and then give a leasing company such as www.yourautoadvisors.com a call. You really have nothing to lose.
  • I am looking for prices that are currently being paid for 2008 RRSC Full Size. There is only one dealer in San Diego...and they use that and not deal. Besides they have limited availability of any RRSC F/S anyway and no demo vehicle...lame! I am prepared to have a vehicle shipped from anywhere in the US if I can get good enough deal. Southern Cal dealers really are not interested in any kind of dealing for these cars...or perhaps I am just a bad at trying...could be. If anyone knows of dealers that will deal I would be very grateful. Just found this site...some very good information here. Thanks.
  • eights38eights38 Posts: 137
    oliie67 - It is difficult to find a 2008 RRSC F/S. Are you looking to lease or purchase? If you need more help, please feel free to email me or reply.
  • My wife wants a Range Rover Sport (basic model not supercharged). What is the current residual and money factor on a 36 month lease at 15,000 miles per year? Also, is the residual figured on the MSRP or on the actual price you pay. Thanks
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