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2013 and Earlier Land Rover Range Rover Evoque Lease Questions

2

Comments

  • upskittyupskitty Posts: 1
    Hi Car_man and others. I'm negotiating a lease on a 2013 Evoque Pure Premium and the numbers the dealership is giving me just DO NOT add up. Could someone with more lease experience than me please take a look and help me out asap?

    As follows: 2013 Evoque Pure Premium MSRP $50,865. Negotiated down to $47,165 invoice plus $4000 down. Money factor is .00011 and residual value is 53%. 3% tax is $1414.95, $398 doc fee. They are quoting me a lease payment of $602.43 per month on a 36 month lease.

    Many thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi upskitty. The money factor and residual value that you were quoted look good.

    Using the numbers that you provided me with, an MSRP of $50,865, a selling price of $47,165, a $4,000 capitalized cost reduction (which I advise against making...more on that later), a money factor of .00011 and a residual value for 53%, I estimate that this truck's zero down, pre-tax monthly payment would be around $570.

    As I mentioned, I always advise consumers against making capitalized cost reductions on leases. Those who make them risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it is much safer to go with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi user111. Chase's current buy rate lease money factor and residual value for a 24-month lease of a 2013 Range Rover Evoque 5 Door Dynamic Premium with 12,000 miles per year are .00004 and 55% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2 Door model are .00005 and 53%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • justmcbjustmcb Posts: 1
    Hi Car_man. I'm looking for the May's MF and residual on a 36 mo. lease, 12,000 miles for a 2013 Evoque, Pure Premium model, MSRP of $51,765.
    Also, the MF and residual at 15K miles too please?

    With top tier credit I had been quoted MF .00065 and resid 53%, which according to this forum seems high.

    Thanks man!
  • ejscmsejscms Posts: 1
    Car_man: I would appreciate knowing the MF, residual AND monthly payment on a similar car (when I do the math, it's just not coming out right).

    2013 Evoque Pure Plus Premium. MSRP $47915. paying $850 over invoice=$44,808. 36 months, 12k miles.

    I have top tier credit and would prefer to put nothing down other than license and first month's payment. (I read your previous post stating it's best to not put anything down and have a higher monthly payment. )

    Finally, now much does it change the monthly payment if I am forced to put down $2500? thanks very much for the info and the education.
  • ix007ix007 Posts: 23
    edited May 2013
    Car Man:

    I'm trying to evalute the deal I'm being offered. Was hoping yourself and other posters on this forum could help me in my decision.

    MSRP $48190
    Selling Price $45690 + $795 Acquisition Fee = $46485 CAP Cost
    Residual is $26,986 56%
    Money Factor is .00061
    Payment is $585.45 + $54.54 (tax) = $640.98

    I would be paying 1st payment, license fee and doc fee upfront ($1,894.37)

    All the math adds up correctly but I am not sure if I should be holding out for a better deal. They are the only Land Rover store in the city so they appear to have the market cornered.

    Even though I told them that the money factor should only be .00011, I was informed that dealer policy is to add .00100 to every deal but they took it down to only .00050 for me. And that I was getting $2,500 off MSRP which is also a deeper discount than normal. Edmunds TMV has the price at $47,154 (basically only $1,000 of MSRP)

    So not only is the dealer making money over invoice but also making an extra 1/2 a point on the money factor. Is this just the way it is in the more luxury car market?

    My current lease is up in about a week so unfortunately, I need to do something fairly quickly. Would you guess that MF or Residuals will move in May for these?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for justmcb. Chase's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Land Rover Range Rover Evoque Pure Premium with 12,000 miles per year are .00011 and 53% for consumers who qualify for its top credit tier.

    The residual value for a lease with 15,000 miles per year would be 1% higher.

    Car_man
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  • jgsrjgsr Posts: 1
    Hi Car_man.

    I wanted to evaluate and numbers the dealership is giving me is correct

    This is what they quote me:

    MSRP $48,517.00
    Sale Price $47,789.00

    Lease term:
    36 months with 10,000 miles allowed per year
    Residual $27,169
    MF .00041
    Total drive off due at signing $4000
    $551 per month plus tax

    I'm not sure if these numbers are correct and should get this deal or wait for better one.
  • user111user111 Posts: 8
    Hi Car_man. Thanks for the reply. What about a 36 month lease / 12k yr for a 5-door dynamic? If you don't have June's rates, then May's are fine. Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    hi jgsr. I think that the money factor that you were quoted is a little high. According to the information that I have seen, Chase's current buy rate lease money factor for a 36-month lease of a 2013 Evoque 5 Door Pure Plus with 10,000 miles per year is .00011 for consumers who qualify for its top credit tier.

    Also, I think that the discount that you were quoted looks low. If I was in the market for this model in an area that has a decent level of competition, I personally would be shooting for more like three grand off.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome user111. Chase's June buy rate lease money factor and residual value for a 36-month lease of a 2013 Land Rover Range Rover Evoque 5-door Dynamic with 12,000 miles per year are .00011 and 50% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • scottcoscottco Posts: 2
    Hi, has anyone leased for $419 a month as Land Rover advertises? Is that price for real? Also, the dealers in the burbs have no Evoques on the lot and tell me it's at least a 3 month or longer wait after you order. What's that all about? Is this true outside of NY? Thanks!
    .
  • mi7mi7 Posts: 31
    Hi guys,

    Could anyone look over this deal and let me know of this is good? I think it's pretty solid for a prestige but would like some confirmation:

    Evoque Prestige
    MSRP:54,565
    Selling Price: 52,000
    42months/12k/year
    Drive off: 1200
    Monthly: 736 (tax included)
    MF: .00010 but dealer told me due to discount they are marking up to .00027. I was not able to get to give me buy rate...never encountered this..strange.
    Residual is 53% I believe.

    I'm concerned with the MF markup but this is substantial?
  • Hi Car Man, what is the August residual value and money factor for an Evoque 36 month lease? Thank you in advance.
  • Hi CarMan,

    Could you please give me the Aug. residual and money factor for a 36 month lease on an Evoque COUPE Pure Plus with 12k mi per year? Also, if you have the 24 month figures, that would help.

    Thanks.
  • kyfdxkyfdx Posts: 30,539
    Sorry... doesn't look like we'll have any Land Rover lease number for August.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • debndebn Posts: 6
    Car Man,
    Do you know the residual values and money factors for the current 36 month lease promotion? I believe it's 10k miles per year.
  • kyfdxkyfdx Posts: 30,539
    Sorry.. .we don't have the Land Rover lease numbers..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Has anybody heard what the lease rates are on the 2014 Evoque?
  • debndebn Posts: 6
    Do you have any updates? I'm looking to lease a 2013 Evoque for 36 months with 10k miles and would love to know the money factor and residual. thanks!
  • kyfdxkyfdx Posts: 30,539
    It doesn't look like we are going to get any Land Rover lease info in the near future..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Here are figures I just got today:

    For 36 months and 10,000 miles per year, I got a rate of .00111. MSRP was 53640 and calculated at a residual of .54 for a value of $28965. My monthly lease payment comes out to about $654 if I go through with the deal.
  • kyfdxkyfdx Posts: 30,539
    Thanks for letting us know your numbers!

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Just to verify- was this for a 2014 model? You mention the list price- do you mind telling us the purchase price as well?
    Thanks
  • I'd be interested in price paid and year as well. I'm in san jose and am finding it difficult to get more than 1500 off msrp on a 2013. Tried to get a price from a dealer in LA and he wouldn't as I was from out of the area.

    I'm expecting at least 3k off considering the 2014 is just around the corner and has better mpg and stop start.

    I think you can do better on the MF. Think the current rate is 0.00011
  • Still no info on 2014 Lease numbers yet?
  • kyfdxkyfdx Posts: 30,539
    We haven't had Range Rover numbers for months... not really expecting to get them...

    Sorry,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • What about 2013 evoque coupe pure plus leasing rate for 36months/12k?

  • kyfdxkyfdx Posts: 30,539

    @monkeypowerx said: What about 2013 evoque coupe pure plus leasing rate for 36months/12k?

    2013: .00011 MF and 52% residual

    MODERATOR
    Prices Paid, Lease Questions, SUVs

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