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Land Rover Range Rover Lease Questions

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  • alwaysarookiealwaysarookie Member Posts: 17
    Carman

    I am getting the following deals both for 24 months:
    RR Sport HSE - $1067 a month/15k miles with only First month payment, tag & title out of pocket.
    RR Sport Supercharged - $1347.34/15k miles (same as above).

    I am looking to bring down my payment to around 1k for Supercharged. Can I get it down by reducing my miles to 12k and leasing it for 36 months instead?
    What should the money factor be for both 24 and 36 months?

    Thanks
  • donchardonchar Member Posts: 56
    Hey Car_Man, why are the money factors for RRS.SC up so much recently? Late last year, you were posting in the high teens to low 20s and now they seem to be in the 30s! Additionally does any one know what the typical markup from auction or trade-in is? Thanks everyone.
  • jbratxjbratx Member Posts: 40
    Does anyone know when the 2009s will be available?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alwaysarookie. Reducing this truck's mileage allowance would definitely lower its monthly payment. Getting the dealer to lower its selling price would as well. Did you negotiate the selling price? If not, you definitely should do so. As far as the length of this lease goes, normally 36 month leases have lower monthly payments than 24 month leases. However, Land Rover appears to be steering consumers towards 2 year leases of this truck by offering lower money factors on that term. It is difficult for me to tell off of the top of my head which term will provide a lower monthly payment.

    Land Rover Capital Group's current buy rate lease money factor for a 24 month lease of a 2008 Land Rover Range Rover Sport HSE with 15,000 miles per year is .00224. The factor for a 36 month lease of this truck is .00260. The numbers for 24 and 36 month leases of an '08 Range Rover Sport Supercharged are .00162 and .00211, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • rsinghflrsinghfl Member Posts: 3
    I am looking to lease RR HSE with entertainment package. My 2006 is up for lease, and the 2008 I am getting is with 2k out of pocket, 12k miles, 24 month and 1200/month is this a good lease?My 2006 was 1070/month with 2500 out of pocket but it was for 10500/miles and didn;t have a entertainment package.
  • rsinghflrsinghfl Member Posts: 3
    I am looking to lease RR HSE with entertainment package. My 2006 is up for lease, and the 2008 I am getting is with 2k out of pocket, 12k miles, 24 month and 1200/month is this a good lease?My 2006 was 1070/month with 2500 out of pocket but it was for 10500/miles and didn;t have a entertainment package. This is in NJ.
  • rsinghflrsinghfl Member Posts: 3
    Car_man:

    I am getting a RR with rear entertaintment from 3 dealers for 1200/month, 12k miles, 24 month lease and total 2k out of pocket. I am a current RR customer so do get the 2k royality. Is this a good deal or can I do better. My current RR was for 1097 but it was for 10,500 miles/year.

    Also how much should be added for a luxury package?

    Please advise.

    Thanks
  • robihris99robihris99 Member Posts: 3
    Hi Car man,

    RR leases used cars. I found that out today when I looked into very nice and well equipped HSE. But the money factor the dealer showed me was horrible. here are the numbers. '06 RR HSE MSRP 41,000 adjusted cap $38,500, 36mo, 12K miles per year. Residual is 28% but that is on the original 77,000 MSRP. Money factor - 0.00495. payment came before tax 711. 12% interest seems outrageous right now and i was wondering if that's a dealer scam or special interest applies when leasing a used vehicle. thanks
  • jbratxjbratx Member Posts: 40
    Try This Company...
    http://www.primelease.com/
  • okaasokaokaasoka Member Posts: 2
    I was shopping around to get another Range Rover lease and I was wondering if anyone found a good deal. my current lease is $994 and change with 12k for miles @ 24 months. i had to put 2,000 down for that payment. i figured the way the market was maybe someone knew of something better?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rsinghfl. The best way to tell if you are getting a good deal on a lease is to take a look at its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how much of a discount you are getting on your truck. Not surprisingly, given the current gas prices, Land Rover sales have been pretty slow lately. If you are in an area that has a decent level of competition, I suspect that you will be able to get a pretty good deal on one. If you share the pricing data with everyone, I am sure that a knowledgeable community member will be happy to give you their opinion of your deal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jbratxjbratx Member Posts: 40
    With gas prices as high as they are and Land Rover sales being down about 25%, would it be better to lease or buy in the current economy? I don't want the the value of my car to drop dramatically by next year when gas is $5.00 a gallon. Thoughts Anyone...
  • bigbearrrsbigbearrrs Member Posts: 6
    2 reasons I chose to not buy my range rover sports.

    1. What happens with quality now that it is owned by a 3rd world mfr.?
    2. The pathetic gas mileage the truck gets on premium gas

    It is absolutely positively the best vehicle I've ever owned with the exception of the gas mileage and the ineffective, cumbersome navigation system.

    You mentioned that gas will be $5 next year. Here in Big Bear Lake, Ca.... (mountains of southern california) Premium gas is already over $5/gallon since June 6, 2008
  • trover1trover1 Member Posts: 1
    Dealer is offering me a lease on a 2006 RR HSE with 48000 miles. The lease is for 3 years . $1500 out of pocket, 12000 miles per year, $598+tax. Is it a good deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jbratx. I thank my lucky stars every day that I am currently leasing my truck. Its resale value has dropped by thousands of dollars over the past several months. While it is virtually impossible to predict the short-term price of oil, and in turn gasoline, I personally believe that high prices are here to stay. Most manufacturers' captive finance companies have not made the necessary adjustments to their vehicles' residual values and they are going to get crushed when the trucks that they are leasing come back at lease-end. Better them than you. If you want a truck, to me leasing is a no-brainer...at least until their residual values become more realistic.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jbratxjbratx Member Posts: 40
    Thanks for the advice Car_man... It's greatly appreciated.
  • lrrrlrrr Member Posts: 1
    Car_man, I was quoted $1169/mo. incl. taxes for an $80,950.00 '08 Land Rover Range Rover with rear ent. package. 24 month, 10, 500 yr. 0 down. 1st. month's due at signing. Is this a good deal. Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, jbratx.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jbratxjbratx Member Posts: 40
    Just a quick poll... With the current state of the economy and high gas prices are you finding that your getting offered better deals, worst deals, or about the same... Thanks
  • lulbertlulbert Member Posts: 1
    how much am i expected to pay total to lease a used range rover?
  • nyrangerover1nyrangerover1 Member Posts: 4
    Hello All,

    Don't know if will get any responses, last post was in Aug. Hopefully will start the discussion up again. Carman you seem very knowledgeable on the subject.

    I am looking into leasing a 2008 Range Rover HSE, with no options msrp $78,450. My deal to do a lease for 24 months was as follows:

    MSRP-$78,450
    Selling Price-$61,000
    Res-40% ($31,380)
    mf-.00365
    -Around $6,081.98 COD (give or take a couple of dollars Depending on plates, Tax Juresdiction)
    $1,265.70/Month for 24 Months
    -Deal Good thorugh Monday (11-8-08)

    probably going to do it. Just wanted to check to see if this is a good deal considering the horrible residual values and money lease factors going on right now.

    Any feedback is greatly appreciated.

    Thanks.
  • rover_guyrover_guy Member Posts: 17
    Hi nyrangrover1,

    I am not exactly sure how leasing works in NY – but I can provide you with the following...

    MSRP-$78,450
    Invoice: $72,159
    There is $12,000 dealer cash / and there should also be a $5000 lease rebate (applied as cap-reduction) or if you are going through LRCG a $5750 lease rebate. A net selling price of $61,000 is a very respectable deal, it means the dealer is grossing approx $500 if they are including floor mats, even if they charge you for the mats the selling price is a good deal.

    LRCG tier “0” should have a .00321 (tier 1 = .00350 more commonly seen as tier 0 is a bit harder to obtain in with today’s lending standards)

    Money factor / 40% Res,15k per year.

    Roughly, I estimate an effective payment of $1,149 + tax, with $6082 total due at lease inception. (I am basing this on CA doc and tax fees NY may be a bit higher). So if the $1,265 is a tax included payment it sounds like you have a pretty air tight deal.

    I hope that helps..

    Rover-Guy
  • nyc_sethnyc_seth Member Posts: 7
    Hello,

    I'm currently in an '03 RR HSE CPO lease that is 36/mo $650/mo with 15k/year. Great deal IMHO. Car had all the bells and whistles that were already 100% depreciated (brush bar, side steps, rear grate, tow kit, rear entertainment, etc.) and came with full CPO warranty for term of my lease. I picked up the car in 2/06 with 20k miles and returning it 2/09 with 65k miles.

    I want to do another CPO with an 06 or 07 RR HSE. 06's are trading around $45k and 07's are closer to $55k (these are dealer CPO prices).

    Questions:
    1. How much are CPO leases going for on the 06's and 07's? Does anyone have recent experience? Further, does anyone know of residuals or money factors used for CPO market?
    2. Are there any incentives available where rr can pull you forward into a new CPO lease and forgive 2 months of payments on old lease or do they just build that into the new lease?
    3. Is it worth waiting for any reason? Incentives, more 07's will hit market soon, etc.

    Thank in advance,

    Seth
  • nyrangerover1nyrangerover1 Member Posts: 4
    Hi Rover-Guy,

    thanks for your feedback. Makes me feel a little bit more comfortable with the deal I am going to sign later today.

    Yes, the $1,265/month payment was assured by the salesman as a total payment. This is his exact words:

    -The COD is comprised of first month payment, taxes and DMV fees (Reg, License, etc) If you would like to put money down, then the monthly payment will drop.
    -The monthly payment is total monthly payment (Taxes are In the COD)

    So, according to him the taxes were paid in the initial inception fees payment.

    So, I guess this is a good deal. I'm going to go ahead and go with it. All this negotion was done through email. I just hope that when I get to the dealership today, the paperwork will reflect what we negotiated through the email.

    Well I'll keep everyone posted on what happens.

    Thanks again Rover-Guy.

    NYRangeRover1.
  • rover_guyrover_guy Member Posts: 17
    You are welcome! - again sounds like you got a good deal. Let me know how it goes.

    Rover-Guy
  • rover_guyrover_guy Member Posts: 17
    Hi Seth,

    Currently I can not find any information on a CPO lease. US-Bank used to be the go to source but since they have dropped out of pre-owned leasing, I am not sure exactly where to lead you, as LRCG does not lease pre-owned any longer.

    Rover-Guy
  • blessedcrysblessedcrys Member Posts: 13
    I don't know if I should accept this deal or not. I was in the market for a 2008 Range Rover HSE and to make a long story short it's a 36 month lease 10,500 miles a year no money down except the mandatory fees which comes out to $1100.00. My monthly payment is $1,097.00 a month. Also Range Rover will be paying the last month of my lease that I'm exiting which is $754.00. Is this a good deal or not before I sign any papers :confuse: :confuse:
  • okaasokaokaasoka Member Posts: 2
    754.00 good if that is your payment for 36months. I have a loaded HSEwith tv's u name it lux package 32 months lease 12,000miles No $$ down & my payment is in 938 & change.
  • blessedcrysblessedcrys Member Posts: 13
    No. I pay 743.00 for my current car lease. Range Rover will be paying the final payment to get me on their team. The Range Rover lease is $1097.00 for 36 months.
  • nyrangerover1nyrangerover1 Member Posts: 4
    Wow akaasoka,

    sounds like you got a real good deal. I pay more and have no options.

    Well, just to keep everyone updated mainly Rover-Guy, all the papers are signed, I drove off the lot with the ranger rover today. Very nice truck. The dealer tried to give me a 12K mile p/year when we initially agreed to the 15K. So he was a little pissed he couldnt pull that one over on me.

    Only thing that concerns me is that the paperwork says the exterior color of the truck is a Sintori Black or something like that, its kind of a flat dull black when you look at it. Not Java Black which seems a little bit brighter and glossier.

    NYRangeRover.
  • malibugagamalibugaga Member Posts: 5
    The lease is up in December and my monthly payments have been 1300. I have 2 questions:
    1) I have quite a bit of dings and scratches on the outside. The inside is fine.
    Should I try to have all the outside damage fixed myself before the inspection? Or do I leave it as it is and pay whatever they charge me....how does it really work?
    2) I was presented with the option to continue to lease the vehicle. Given the current horrible rates and the economy, I don't want to pay more than $1300/month on ANY vehicle. So I was looking into maybe leasing sport but was quoted $1615/month! I wonder if I would do better with a different make (ie BMW?). What to do? Is it possible to pay less than $1300/mo on RR or RR Sport without having to come up with a lot of out of pocket?
  • rover_guyrover_guy Member Posts: 17
    Hi Malibugaga,

    Let’s see – I would guess that your leas is with LRCG as they had the best program in 06, regardless all the leasing companies use independent inspection companies to asses the damage v.s. normal wear and tear to your car. Most dealerships can give you a general idea of what is considered acceptable and what is not, but keep in mind they play no part in what the bank ultimately charge’s you for damage if any.

    I would recommend contacting the local dealer to see what they say – if you give me an idea of where you live I may be able to recommend the closest / best dealer to speak with.

    As for question #2 – Land Rover recently released extra money / incentives on the 2008 full sized rover – ie – with minimal drives (1st month payment tax and lic.) you should be at about 999+ tax for 39 months with about 10,500 miles per year. (keep in mind the banks are being very cautious who they lend money to theses days so it would be based on a very strong credit score). I believe this program nets the dealer about $1200 total gross, which is very fair. You may be able to negotiate this down a little bit – again depending on where you live I may be able to recommend a dealership who I have heard is very competitive.

    A sport for $1650 a month sounds very high.. Was your quote on a supercharged model?, Or with extra equipment? and was it a 2009 or 2008?

    If you give me the MSRP of the sport you were looking at I can give you a better idea of what the payment should be. That being said I know that you will get a better overall deal on a 2008 Range Rover HSE based on the incentives and programs available.

    Hope that helps a bit,

    Rover Guy
  • rob_lasvegasrob_lasvegas Member Posts: 2
    Looking to lease a 2008 Land Rover HSE. Dealer says $1650 per month. This includes luxury package, DVD, Tire/Wheel protection. 12,000 miles per month. He says discount and rebates of 13,000 give me a good deal. However, money factor seems high and residual seems very low. Anyone hear of what I should really be paying. Thanks!
  • eights38eights38 Member Posts: 145
    Hi Rob,

    The lease seems high to me. The money factor is average and the residuals are horrible. I assume that you are leasing this vehicle in Las Vegas? How many months is the lease?

    Best,
    Matt
    eights38@gmail.com
  • rover_guyrover_guy Member Posts: 17
    Hey NY -

    Glad you got the deal, and didn't get nailed by the mileage switch-a-roo..

    The Santorini Black is the new color, it is actually more metallic and brilliant then the Java, but you can only really see the flakes in direct sunlight. of course this is just my opinion … :)

    Rover Guy
  • rover_guyrover_guy Member Posts: 17
    Hi Blessedcrys,

    I calculated your deal using a Range Rover HSE $78,550 MSRP / $72,254 INV. Minimal drives 1st payment tax and lic, rolling your last payment..
    I came up with this:

    $2,125 due at signing

    $1,023 + tax per month $1,108 including tax @ 8.25%

    10,500 miles per year

    36 months

    Tier “0”

    37 % residual

    LRCG

    Take note that it is much harder to qualify for tier “0” more typically you will see tier “1” approvals, if this is the case it would bring your payment up to $1,048 + tax and up your drive off to about $2,155.

    Hope that helps..

    Rover Guy
  • rover_guyrover_guy Member Posts: 17
    Hi Rob Las Vegas,

    That deal seems very high – not taking credit score into consideration, and I am not familiar with the Tire and Wheel Protection.

    Roughly I come up with something like this: MSRP $85,550 / Inv $78,629, $5750 rebate

    $2,400 due at signing

    $1,400 a month including tax

    36 months

    12,000 miles per year

    .00351 (tier 0) or .oo380 (tier 1)

    36% Res.

    I am not sure how much the tire and wheel protection is, but I can’t imagine is worth $250 a month…

    Hope that helps! :)

    Rover Guy
  • jbratxjbratx Member Posts: 40
    Hey Rover Guy,
    Thanks for all the help on the forum. I live in Los Angeles can you recommend a dealership who you have heard is very competitive as stated in the post for Malibugaga? Thanks.
  • malibugagamalibugaga Member Posts: 5
    Hi Rover Guy -
    my zip code is 90265.
    I was looking at non-supercharged model sport but with DVDs in the back. It seems now that full sized HSE model offers better deals?
    What is the best deal you know of on 2008 or 2009 RR HSE? All I need is again the DVDs in the back (2 kids!) - the rest I don't care as much about. Meaning I don't need to have all wood dashboard or such things...
    What is usually the lowest down payment? (On the 2006 model we paid 10k up front and I don't want to do that again...) I would like the monthly payment to be as close to 1k as possible.....Also - is it better to wait until January to get better deal on 2008? Or do you think I could get similar deal now?
  • rover_guyrover_guy Member Posts: 17
    Hi Jbratx,

    Depending on where in LA you live for best overall buying experience I would recommend the following, one of them should be relatively close.

    Land Rover Thousand Oaks (Silver Star)– ask for the fleet manager (be sure you get the one who is actually in the land rover building, younger fellow very knowledgeable, and got our last 2 Rovers from him, and he had them delivered to our home contracts, and all.)

    Land Rover LA, (Hornburg)– ask for the internet sales manager… several happy people have got good deals there, but be careful some of the sales managers / sales people get a bit atypical and play the game.

    Land Rover Mission Viejo – ask to speak with the sales manager, there are two, you want to speak with the young man with a bit of an atypical California surfer accent… also a low stress buying experiance.

    All three of the above listed dealerships have been referred on more then one occasion, and we have either worked directly with or had friends or family had excellent buying experiences with very competitive pricing, and more importantly with out hassle or games you would find at other dealerships.

    That being said, I would also recommend you stay away from 2 particular dealerships, both are under the same ownership, and both have the worst reputations for a highline dealer that I have ever come across. I won’t mention them by name simply say, to save mild brain trauma, stay away from the valley and the airport area…

    Hope that helps,

    Rover-Guy
  • rover_guyrover_guy Member Posts: 17
    Hi Malibugaga,

    90265 - Malibu-gaga.. Now I get it! Guess I am a little slow some times.

    Currently there are no good deals on the 09 sports, and most dealers are out of, or almost out of the 08’s (some ugly colors still exist). I agree you should get a full size Range Rover… The program is pretty good; much better then the program on the 09 sports. A Ranger Rover HSE with factory DVD has an MSRP $81,050

    If your credit is above average a lease with12,000 miles per year should look like this:

    36 months,
    $2,500 due at signing (approx)
    $1150 including tax (Malibu / LA County)

    Or

    48 months,
    $2,500 due at signing (approx)
    $1075 including tax (Malibu / LA County)

    The residual is super low in both cases 36% and 21% – but I with all of the dealer cash and rebates the numbers still add up.

    I wouldn’t wait till January I doubt the program will get better. As a matter of fact I am willing to bet the programs will get worse. With the sale of Land Rover finalizing, come the 30th of December, Land Rover Capital will be no more, and Chase will be stepping in as Land Rover’s captive lender (Chases programs are no where near as good as the current LRCG programs).

    Furthermore next to a brief spurt towards the end of 2006 this is the cheapest payments I have ever seen on a Full Sized Range Rover …

    Rover-Guy
  • jbratxjbratx Member Posts: 40
    Thank you very much Rover-Guy... I really appreciate it. :)
  • rover_guyrover_guy Member Posts: 17
    Gald I could help, please let me know how it goes.
  • malibugagamalibugaga Member Posts: 5
    Thanks Rover Guy. I will get right to it then and lease ASAP.
  • rover_guyrover_guy Member Posts: 17
    Glad I could help :shades:
  • rob_lasvegasrob_lasvegas Member Posts: 2
    When the dealer adds the running boards, it brings the MSRP close to $90,000. Lease is for 36 months, 12,000 miles, no cap cost reduction. He did mention something about a 0.0038 money factor.

    Kept saying it's a good deal because of the rebates.

    I know $1670/month seems high, but I called dealers in California/Pasadena and they wanted $1800+.

    Getting frustrated. Thanks for everyone's help!!!!

    Rob in Las Vegas
  • rover_guyrover_guy Member Posts: 17
    Ok – let’s break this down for ya – see if we can give you some piece of mind.

    MSRP $85,550
    Invoice $76,354

    Running Boards: $1,400 (installed)
    Carpet Mats: $300

    Rebate: $5750

    Buy Rate: .00351

    Minimal drives: $2,486 (California fees and taxes 8.25%)

    Monthly payment: $1,205 + tax $1,305 including

    Now – if we change it up and put the retractable running boards on …

    MSRP $85,550
    Invoice $76,354

    Running Boards: $4,000 (installed)
    Carpet Mats: $300

    Rebate: $5750

    Buy Rate: .00351

    Minimal drives: $2,486 (California fees and taxes 8.25%)

    Monthly payment: $1,287 + tax $1,393 including

    Both scenarios give the dealer about a net 1500 profit which is more then fair.

    I hope that helps!

    Rover-Guy
  • themrcthemrc Member Posts: 2
    Hey Rover Guy and all,

    I was offered the following 2 leases:

    2008 HSE Luxury Package 39 month lease $1075+tax (LA County)
    $0 down (only pay registration and first payment)

    2008 Range Rover Sport Supercharged
    $0 down (same scenario)
    48 month lease $899/mo +tax

    Are these fair prices and or do I have any wiggle room here?

    I am tryig to decide between the two. I like both vehicles a lot and almost equally for the interior. I love the exterior on the full body but the sport is a little more fun to drive.
  • rover_guyrover_guy Member Posts: 17
    Hi Themrc,

    Both deals are “Steals” either way you can not go wrong,.. I doubt highly that you would have any room to negotiate from the price you were quoted. I would jump either deal, based on calculations they are net “0” deals. Just be careful about them trying to bump you on the rate etc.

    Personally I like our full-sized Range Rover better then our Supercharged Sport. Although it lacks a bit in pickup – in the long run the ride and overall comfort is more desirable. Not to mention we average almost 17mpg in the big rover!

    Happy hunting!

    Rover-Guy
  • themrcthemrc Member Posts: 2
    thanks for the help!
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