2019 Land Rover Range Rover Sport Lease - Feedback Please

kdubdub30kdubdub30 Member Posts: 7
edited September 2019 in Land Rover
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!

Comments

  • kyfdxkyfdx Moderator Posts: 252,808
    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.

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  • kdubdub30kdubdub30 Member Posts: 7
    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 !
  • MichaellMichaell Moderator Posts: 251,530
    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.

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  • kyfdxkyfdx Moderator Posts: 252,808
    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.

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  • kdubdub30kdubdub30 Member Posts: 7
    Is there a MF calculation/formula? Meaning a way to tell what the payment would be if the .00120 MF was applied? Thanks
  • MichaellMichaell Moderator Posts: 251,530
    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

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


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    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

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