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Land Rover Range Rover Sport Lease Questions

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Comments

  • 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.
  • 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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  • 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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  • 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: 13
    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.
  • 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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  • 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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  • 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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    Prices Paid Forum
  • 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.
  • 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: 137,195
    Still need one more variable: The selling price (or the CAP cost).

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • 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: 137,195
    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.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • 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.
  • 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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    Prices Paid Forum
  • british_roverbritish_rover Posts: 8,458
    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: 8,458
    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: 8,458
    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.
  • 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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  • Thanks for the confirmation, british_rover. I suspected that was the case.

    Car_man
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    Prices Paid Forum
  • 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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    Prices Paid Forum
  • 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?
  • 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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  • 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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  • 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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  • 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: 8,458
    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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