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2019 Velar service vehicle lease offer- good or bad?

dentru26dentru26 Posts: 10
edited June 1 in Land Rover
I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it.
Sale price: 48550
MF: 0.0023
Residual: 58%
Monthly payment(pre-tax) : $685

I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions?

Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms

Comments

  • kyfdxkyfdx Posts: 128,361
    dentru26 said:

    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it.
    Sale price: 48550
    MF: 0.0023
    Residual: 58%
    Monthly payment(pre-tax) : $685

    I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions?

    Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms

    Is it a P250, or a P250 S?

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

    Edmunds Moderator

  • dentru26dentru26 Posts: 10
    kyfdx said:
    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it. Sale price: 48550 MF: 0.0023 Residual: 58% Monthly payment(pre-tax) : $685 I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions? Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms
    Is it a P250, or a P250 S?
    P250 base 
  • kyfdxkyfdx Posts: 128,361
    dentru26 said:


    kyfdx said:

    dentru26 said:

    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it.
    Sale price: 48550
    MF: 0.0023
    Residual: 58%
    Monthly payment(pre-tax) : $685

    I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions?

    Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms

    Is it a P250, or a P250 S?

    P250 base 

    I don't have the details for how the existing mileage will affect the numbers, but likely a residual reduction, at a minimum.

    P250: .00185 MF and 63% residual
    P250S: .00088 MF and 58% residual

    I would re-verify trim, term and mileage allowance.
    In any case, they are taking a massive markup to the money factor.
    What is the original MSRP?

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

    Edmunds Moderator

  • dentru26dentru26 Posts: 10
    kyfdx said:
    kyfdx said:
    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it. Sale price: 48550 MF: 0.0023 Residual: 58% Monthly payment(pre-tax) : $685 I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions? Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms
    Is it a P250, or a P250 S?
    P250 base 
    I don't have the details for how the existing mileage will affect the numbers, but likely a residual reduction, at a minimum. P250: .00185 MF and 63% residual P250S: .00088 MF and 58% residual I would re-verify trim, term and mileage allowance. In any case, they are taking a massive markup to the money factor. What is the original MSRP?
    Thanks for those inputs- MSRP is at 51005. 
  • kyfdxkyfdx Posts: 128,361
    dentru26 said:


    kyfdx said:

    dentru26 said:


    kyfdx said:

    dentru26 said:

    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it.
    Sale price: 48550
    MF: 0.0023
    Residual: 58%
    Monthly payment(pre-tax) : $685

    I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions?

    Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms

    Is it a P250, or a P250 S?

    P250 base 
    I don't have the details for how the existing mileage will affect the numbers, but likely a residual reduction, at a minimum.

    P250: .00185 MF and 63% residual
    P250S: .00088 MF and 58% residual

    I would re-verify trim, term and mileage allowance.
    In any case, they are taking a massive markup to the money factor.
    What is the original MSRP?

    Thanks for those inputs- MSRP is at 51005. 

    With those numbers, I'd guess they are mixing up the numbers between the two models, when relaying the information to you. Not when actually calculating the payment, though.

    P250: .00185 MF and 63% residual.
    They are marking up the money factor to .00230, and that discount isn't very much, given that it's a demo.

    Verify the money factor and residual, again.
    Then ask for a bigger discount, and the base money factor.

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

    Edmunds Moderator

  • dentru26dentru26 Posts: 10
    kyfdx said:
    kyfdx said:
    kyfdx said:
    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it. Sale price: 48550 MF: 0.0023 Residual: 58% Monthly payment(pre-tax) : $685 I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions? Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms
    Is it a P250, or a P250 S?
    P250 base 
    I don't have the details for how the existing mileage will affect the numbers, but likely a residual reduction, at a minimum. P250: .00185 MF and 63% residual P250S: .00088 MF and 58% residual I would re-verify trim, term and mileage allowance. In any case, they are taking a massive markup to the money factor. What is the original MSRP?
    Thanks for those inputs- MSRP is at 51005. 
    With those numbers, I'd guess they are mixing up the numbers between the two models, when relaying the information to you. Not when actually calculating the payment, though. P250: .00185 MF and 63% residual. They are marking up the money factor to .00230, and that discount isn't very much, given that it's a demo. Verify the money factor and residual, again. Then ask for a bigger discount, and the base money factor.
    Makes sense . Thanks @kyfdx , will let you know how things go. Thx!
  • dentru26dentru26 Posts: 10
    kyfdx said:
    kyfdx said:
    kyfdx said:
    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it. Sale price: 48550 MF: 0.0023 Residual: 58% Monthly payment(pre-tax) : $685 I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions? Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms
    Is it a P250, or a P250 S?
    P250 base 
    I don't have the details for how the existing mileage will affect the numbers, but likely a residual reduction, at a minimum. P250: .00185 MF and 63% residual P250S: .00088 MF and 58% residual I would re-verify trim, term and mileage allowance. In any case, they are taking a massive markup to the money factor. What is the original MSRP?
    Thanks for those inputs- MSRP is at 51005. 
    With those numbers, I'd guess they are mixing up the numbers between the two models, when relaying the information to you. Not when actually calculating the payment, though. P250: .00185 MF and 63% residual. They are marking up the money factor to .00230, and that discount isn't very much, given that it's a demo. Verify the money factor and residual, again. Then ask for a bigger discount, and the base money factor.
    The dealer came back and said the numbers for the new Month of June worked in my favor and he brought down the monthly payment (per-tax) by another 30$ per month. They are still not revealing clearly if there was a change in MF , Residual or sale price ( more incentives etc) 😁
  • MichaellMichaell ColoradoPosts: 121,893
    dentru26 said:


    kyfdx said:

    dentru26 said:


    kyfdx said:

    dentru26 said:


    kyfdx said:

    dentru26 said:

    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it.
    Sale price: 48550
    MF: 0.0023
    Residual: 58%
    Monthly payment(pre-tax) : $685

    I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions?

    Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms

    Is it a P250, or a P250 S?

    P250 base 
    I don't have the details for how the existing mileage will affect the numbers, but likely a residual reduction, at a minimum.

    P250: .00185 MF and 63% residual
    P250S: .00088 MF and 58% residual

    I would re-verify trim, term and mileage allowance.
    In any case, they are taking a massive markup to the money factor.
    What is the original MSRP?

    Thanks for those inputs- MSRP is at 51005. 
    With those numbers, I'd guess they are mixing up the numbers between the two models, when relaying the information to you. Not when actually calculating the payment, though.

    P250: .00185 MF and 63% residual.
    They are marking up the money factor to .00230, and that discount isn't very much, given that it's a demo.

    Verify the money factor and residual, again.
    Then ask for a bigger discount, and the base money factor.

    The dealer came back and said the numbers for the new Month of June worked in my favor and he brought down the monthly payment (per-tax) by another 30$ per month. They are still not revealing clearly if there was a change in MF , Residual or sale price ( more incentives etc) 😁

    Negotiating payment leaves the dealer too many ways to reach into your pocket.

    Without the full picture, you'll never know if you left money on the table.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • adeelahsan2332adeelahsan2332 20724Posts: 11
    I have a question, if you guys look at the reviews of the velar many people stated that the vehicle had many problems when it came to the infotainment etc.

    Does anyone know if these problems have been resolved?

    I was assuming these problems were early on when the velar first came out but now its been 3 years and some people are still having the same problems which I saw from reviews in 2019.

    any input on this?
  • MichaellMichaell ColoradoPosts: 121,893

    I have a question, if you guys look at the reviews of the velar many people stated that the vehicle had many problems when it came to the infotainment etc.

    Does anyone know if these problems have been resolved?

    I was assuming these problems were early on when the velar first came out but now its been 3 years and some people are still having the same problems which I saw from reviews in 2019.

    any input on this?

    Sorry, no info from me

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • dentru26dentru26 Posts: 10
    Michaell said:
    I have a question, if you guys look at the reviews of the velar many people stated that the vehicle had many problems when it came to the infotainment etc. Does anyone know if these problems have been resolved? I was assuming these problems were early on when the velar first came out but now its been 3 years and some people are still having the same problems which I saw from reviews in 2019. any input on this?
    Sorry, no info from me

    Michaell said:
    kyfdx said:
    kyfdx said:
    kyfdx said:
    I am getting a lease offer for a 2019 Velar P250 trim which has been a service vehicle with close to 2800 miles on it. Sale price: 48550 MF: 0.0023 Residual: 58% Monthly payment(pre-tax) : $685 I am thinking they are bumping up the MF too high as compared to what I saw on the forums here (0.00088)- Any suggestions? Edit: should have clarified , the above has been quoted for 12k, 36mos lease terms
    Is it a P250, or a P250 S?
    P250 base 
    I don't have the details for how the existing mileage will affect the numbers, but likely a residual reduction, at a minimum. P250: .00185 MF and 63% residual P250S: .00088 MF and 58% residual I would re-verify trim, term and mileage allowance. In any case, they are taking a massive markup to the money factor. What is the original MSRP?
    Thanks for those inputs- MSRP is at 51005. 
    With those numbers, I'd guess they are mixing up the numbers between the two models, when relaying the information to you. Not when actually calculating the payment, though. P250: .00185 MF and 63% residual. They are marking up the money factor to .00230, and that discount isn't very much, given that it's a demo. Verify the money factor and residual, again. Then ask for a bigger discount, and the base money factor.
    The dealer came back and said the numbers for the new Month of June worked in my favor and he brought down the monthly payment (per-tax) by another 30$ per month. They are still not revealing clearly if there was a change in MF , Residual or sale price ( more incentives etc) 😁
    Negotiating payment leaves the dealer too many ways to reach into your pocket. Without the full picture, you'll never know if you left money on the table.
    @Michaell .. I am pushing them to share the MF and residual and cap cost numbers with me - let’s see. 
    @adeelahsan2332 - wouldn’t the original warranty on the vehicle cover those issues with infotainment etc anyways for atleast 3 years ? This is concerning though to me as I am thinking of purchasing this vehicle as currently it seems buying this car maybe more reasonable than leasing to me based on added incentives they have for purchase option.
  • adeelahsan2332adeelahsan2332 20724Posts: 11
    Its not that concering when you think of it as money wise, but many people wrote things like took it to the dealership 6 times in one month or some thing around those lines and in my mind im like i dont think i can make that many trips to the dealer and also sometimes dealers wont give you loaners and stuff its just i dont want to be in a stressful situation so i am doing some home work and calling up dealerships and shops to ask them stuff about the infotainment , from what i know the problems were taken care of and it should be ok to lease or buy the car.

    i would recommend leasing. dont finance it.
  • dentru26dentru26 Posts: 10
    Its not that concering when you think of it as money wise, but many people wrote things like took it to the dealership 6 times in one month or some thing around those lines and in my mind im like i dont think i can make that many trips to the dealer and also sometimes dealers wont give you loaners and stuff its just i dont want to be in a stressful situation so i am doing some home work and calling up dealerships and shops to ask them stuff about the infotainment , from what i know the problems were taken care of and it should be ok to lease or buy the car. i would recommend leasing. dont finance it.
    Understand @adeelahsan2332. Could you kindly share why would you recommend against financing(buying) it? Is it the resale value is not at par? The leasehackr lease calculator gets the best of the lease quotes I have received at 6.4yrs. I usually look for a solid 8 at min usually- so thought financing would be better
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