2019 Land Rover Range Rover Sport Lease - Feedback Please

kdubdub30

Hi, Looking for feedback on a proposed lease:

2019 Range Rover Sport / HSE Dynamic
Final Price:78K (87,500 Orig)
33 months / 12K miles year
Residual: 51%
.0165
1K Down

$1097/month

* Not loaner, but GM's car, has 3K miles on it.

Thanks you in advance for your feedback and help!

kyfdx

kdubdub30 said:

Hi, Looking for feedback on a proposed lease:

2019 Range Rover Sport / HSE Dynamic
Final Price:78K (87,500 Orig)
33 months / 12K miles year
Residual: 51%
.0165
1K Down

$1097/month

* Not loaner, but GM's car, has 3K miles on it.

Thanks you in advance for your feedback and help!

.00120 MF and 60% residual

No idea where their numbers are coming from.

kdubdub30

Thanks Could the 3K miles on it be affecting the residual ? Have never dealt with technically a “new” car , but can’t be sold as such due to the miles ...it wasn’t the car that I initially wanted , but the one they said they could discount the most ....

Is the appropriate question to ask “How did you arrive at that residual / MF ?

Thanks in advance !

Michaell

kdubdub30 said:

Thanks Could the 3K miles on it be affecting the residual ? Have never dealt with technically a “new” car , but can’t be sold as such due to the miles ...it wasn’t the car that I initially wanted , but the one they said they could discount the most ....

Is the appropriate question to ask “How did you arrive at that residual / MF ?

Thanks in advance !

Yes, the existing miles are likely to affect the residual, though we don't know how LR does the calculation.

LR deals are famous for marking up the MF. A lot.

Just tell them "If you won't write up a quote that uses the base MF, I'll shop a different dealer"

You may also have to shop a different brand, as the mark up practice is pretty common.

kyfdx

kdubdub30 said:

Thanks Could the 3K miles on it be affecting the residual ? Have never dealt with technically a “new” car , but can’t be sold as such due to the miles ...it wasn’t the car that I initially wanted , but the one they said they could discount the most ....

Is the appropriate question to ask “How did you arrive at that residual / MF ?

Thanks in advance !

3000 miles wouldn't drop the residual by 9%, if the car is eligible for the new car program.

It's possible that it isn't the GM's demo, but a corporate lease of some type, and ineligible for the new car lease program. With those parameters, it doesn't seem like a very good deal.

kdubdub30

Is there a MF calculation/formula? Meaning a way to tell what the payment would be if the .00120 MF was applied? Thanks

Michaell

kdubdub30 said:

Is there a MF calculation/formula? Meaning a way to tell what the payment would be if the .00120 MF was applied? Thanks

Use this link to help:
https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html