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Land Rover Range Rover Lease Questions

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  • zuny25zuny25 Member Posts: 1
    edited December 2011
    Dear car_man,

    what are the money factors and residual value for a 2012 Range Rovr Sport HSE Lux for December 2011?
  • opjp88opjp88 Member Posts: 11
    Hi, anyone look into a lease on a Land Rover Evoque pure? was quoted $690 a month with taxes and 1st month walk in which is almost $4k. This is for 36 months,10 K miles a year,resd is 54%, factor is 1.61 and sticker is 45,945. I think its very high monthly payment, any thoughts out there?
  • poofda999poofda999 Member Posts: 2
    Hi car_man-

    Could please give Land Rover Financial residual value and money factors for a 2012 Range Rover HSE for 24 and 36 months with 12k and 15k miles per year.

    Thanks in advance!
    Rick
  • ceperryceperry Member Posts: 13
    Hi, Car_Man -

    Could you please provide the latest money factor and residual value for the Land Rover Evoque Prestige?

    Also, since the model, after this first year of production, has now been established as popular and likely to have high resale value, do you think we're likely to see higher residuals with the 2013 model year? (I notice the residuals quoted in October were fairly low compared to other models like the RR Sport).

    Thanks very much!
    Christina
  • jps1010jps1010 Member Posts: 19
    Hi,

    Does anyone know the July money factor and residuals for a Range Rover HSE? I am looking for 36 month term and 12K miles per year. I am unable to find these figures anywhere and do not want to walk in a dealership without knowing this information.

    Thank you.
  • crimattcrimatt Member Posts: 21
    I'm in the same boat. I want to avoid any dealer without being properly equipped. You know what they say about an educated consumer...

    Further, how much of a discount can one expect on a HSE given the time of year and the vehicle's pending facelift?

    crimatt
  • jps1010jps1010 Member Posts: 19
    Hi Carman,

    Can you please lets us know the money factor and residual rates for the Range Rover HSE?

    In addition, what is your opinion on the discounts given the pending update?

    I really appreciate any help you can offer.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    It's definitely a good idea to have this information in hand before shopping around, jps1010. Chase's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Land Rover Range Rover HSE with 12,000 miles per year are .00176 and 50%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jps1010. Please see my previous post for the lease program information that you're looking for.

    I really am not intimately familiar with what the market is like for the Range Rover right now. If I was in the market for a lease of one at this time, I personally would shoot for a selling price of $500 to $1,000 over invoice and see what happens.

    I can tell you that Land Rover is pushing 18-month leases of this truck right now...probably to bridge the gap between now and when the new one arrives. It is providing a special $3,000 cash incentive on 18-month leases of the Range Rover right now. Its 18-month, 15k numbers for the '12 Range Rover HSE are .00194 and 63%.

    Car_man
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  • jps1010jps1010 Member Posts: 19
    Hi Car_Man. Thanks so much for getting back to me. Over the years I have used your site and it has saved me and my family so much money. This is why I always go to your site before I proceed.

    After using the figures you have provided the RR HSE is more than I want to spend. Are the figures for the RR Sport any better?
  • mibnymibny Member Posts: 14
    edited February 2006
    Hey Cartman .. Im in NYC. What you think will be the monthly leasing for the RRS 2013 ?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome jps1010. I'm glad that you've found this site so helpful.

    Chase's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Range Rover Sport HSE with 15,000 miles per year are .00194 and 55%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mibny. If you provide me with the MSRP and dealer invoice price of the exact truck that you are interested in I would be happy to use Land Rover's actual lease program to work up a payment on it for you. You can find this pricing data in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • swajamesswajames Member Posts: 5
    edited July 2012
    Hi Car_man,

    Firstly, thank you for the work you do here on the forum.

    I am in the home stretch on the negotiations for a 2012 Range Rover HSE LUX and have a question on the current manufacturer payments to the dealer.

    As I understood it, there is a holdback amount of around $1500 on the Range Rover HSE. I also see that there is a current manufacturer incentive to the dealer of $2000. Do you happen to know if the $2000 is in addition to the holdback or as a replacement for the holdback? I am getting the $3500 competitor cash already. Also, I think the current finance offer is .9%, right, but is it right that the 36 month residual for 12000 miles is 50%? Is there any "sweet spot" on these cars at the moment in terms of beneficial residuals or money factors?

    Thanks!
  • pcaldwellpcaldwell Member Posts: 9
    I was interested in the mf, residual % on a 24mo lease of a RR HSE?
    thanks Pete
  • crimattcrimatt Member Posts: 21
    Curiously, how do you know about this dealer hold-back
    program and the current manufacturer's incentive to the dealer? Did you read it somewhere or are you gleaning this info through your present negotiations with your dealer? I am also trying to hammer out a deal on the 2012 HSE and this information has never been brought to my attention--understandably....

    Also, why do you believe that, as a buyer, you are entitled to that $ or that you may use these incentives to frame your current negotiations? My 2 cents...

    Sweet spot -wise, I believe the current 24 month deal is where you want to be:

    2012 HSE:

    a. 12k - 64% residual
    b. 10k - 65% residual

    2012 HSE LUX:

    a. 12K - 62% residual
    b. 10K - 63% residual

    By taking advantage of this 24 month program, you get the highest residual values and you will be out of the lease in time to pick up a 2014 HSE/HSE LUX--after all the kinks have been ironed out.

    Cheers!

    crimatt
  • RNGRVR18RNGRVR18 Member Posts: 8
    Hi car_man.

    I just wanted to confirm the MF and residual for a RRS LUX 2012 on a 36mo/10k lease. Is it .00194 and 56%?

    Thanks!
  • crimattcrimatt Member Posts: 21
    You are getting things mixed up. The .00194 MF is reserved for only the 24 month programs. The 36 month, 12K/year lease, however, has a .00176 MF for Tier 1 buyers, and a 50% residual. The 10K/year enjoys a more liberal 52%.
  • RNGRVR18RNGRVR18 Member Posts: 8
    Thanks for the reply.

    So the dealer quoted .00194 (Sent me a lease worksheet print out) so I'll assume they're marking it up for profit. They also quoted 56% for the residual on a 36mo/10K... knowing the dealer can't set this so the dealer is mistaken? 50% sounds really low IMO, where did you get this info?
  • crimattcrimatt Member Posts: 21
    edited July 2012
    First, the MF used by a dealership is not necessarily fixed.
    Those with excellent credit scores get the benefit of the lowest available MF (.00168-Tier 1 credit), while everyone else gets quoted varying MFs based upon where they fall along the credit score continuum. Personally, I was quoted a Tier 2 rate of .00188.

    So, your quote of .00194 may be more a measure of your credit worthiness, than the act an unscrupulous salesman. Only you know...

    With respect to the residuals on this vehicle, let's think about it for a moment.

    Residuals are also not set in stone. The longer a vehicle sits on a dealership lot, the less value it has to the dealership and to the bank in question (Chase, in your case).

    Further, when a vehicle has reached the end of its "life cycle" and a new body style is looming, the affect on its perceived value weighs heavily on its residual value. Do you really believe that your HSE would have the same value three years from now as it would without the introduction of a new style HSE next year?

    This said, if you were quoted a residual value of 56% on a 36 month lease on this vehicle, consider this a gift.
    Perhaps your dealership is trying to offset the increased MF they quoted you to make the overall lease contract more palatable. Or perhaps the .00194/56% quote is a component of an internal program that that dealership has in place. Who knows.

    BTW, the difference between your 56% and my 52% is roughly $93/month. You ultimately have to decide if this is "really low".

    Hope I helped!

    crimatt
  • pcaldwellpcaldwell Member Posts: 9
    Was quoted mf of .00245 and residual of 61% on a 24 month lease of a RR HSE. Does this seem reasonable? 5.88% seems high in this economy as well as considering a pending redesign. thanks
  • crimattcrimatt Member Posts: 21
    edited July 2012
    You haven't told us how many miles you were considering. However, I would surmise that your dealer is indeed padding the price.

    First, with a MF quote of .00245, you would have to have a Tier 4 credit score. This, notwithstanding, you would still be entitled to the current residual rates of 65% for 10k miles/year or 64% for 12k miles/year.

    At 61%, your dealer would be depriving you of one of the many benefits under the current 24 month program.

    Run do not walk...

    Cheers!

    crimatt
  • pcaldwellpcaldwell Member Posts: 9
    So, what is the tier I mf for a 24 mo. 10k/yr?
    thanks
    pete
  • crimattcrimatt Member Posts: 21
    edited July 2012
    Tier 1 credit: .00168/65% - HSE

    For the LUX, you lose 2 percentage points, regardless of the mileage.

    Cheers!

    crimatt
  • pcaldwellpcaldwell Member Posts: 9
    Thanks for your help. Do you know if a 27 month term is an option? And if so, does the residual % change. Thanks again. Pete

    ps: During my negotiation with the dealer, Im befuddled by the strict incentive qualifications and high money factor. Dont they realize we are in a recession? my two cents...
  • crimattcrimatt Member Posts: 21
    edited July 2012
    No, unfortunately, I am not aware of a 27 month option. I will tell you that, up until 8/01/012, the 24 month is the best bang for your buck. After this date, the residuals will invariably change. Presumably, for the better...

    I cannot speak for your salesperson's motives. I presume that, as with any sales situation, he may glean from the negotiations that you are in love with the car. Consequently, he knows that he can hardball you and probably get you to capitulate.

    Best advice: reverse the tables. Remember that he has everything to gain by closing the deal. You always have the option of walking away. He is not the only dealership with 2012s sitting on the lot. I think that if you can embrace the amount of power you have, you may be in a much better bargaining position.

    Cheers!

    crimatt
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey camy2079. The numbers that you posted are indeed correct.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings pcaldwell. Chase's current buy rate lease money factor for a 24-month lease of a 2012 Range Rover HSE is only .00168 for consumers who qualify for its top credit tier. If your credit is in good shape then the dealer is likely marking your truck's money factor up to add additional profit to your deal.

    Car_man
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  • pcaldwellpcaldwell Member Posts: 9
    Will you post the August lease rates (mf and residual %) for 24mo. 10k mi/yr. when available. thank you
    pete
  • jonmraz73jonmraz73 Member Posts: 1
    Long-time reader, first time poster here.

    Planning to pull the trigger on a HSE Lux. What is the Tier-1 residual and money factor on a 18-month lease?

    Also, the dealer want to apply a rebate to my drive-off cap reduction rather than applying it directly to the discount off MSRP. He is giving me something off MSRP and the rest discounted from my cap reduction drive-off calculation. I assume this is the same result either way, right?

    Many thanks, car_man!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Pete. Chase's August buy rate lease money factor and residual value for a 24-month lease of a 2012 Land Rover Range Rover HSE with 10,000 miles per year are .00171 and 65%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome aboard jonmraz73. Chase's August buy rate lease money factor for an 18-month lease of a 2012 Land Rover Range Rover HSE is .00194 for consumers who qualify for its top credit tier.

    You're right, there's really not any difference between subtracting the $3,000 cash incentive on 18-month leases of this truck through Chase from your vehicle's selling price or from the amount due at lease signing.

    Car_man
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  • marinabmwmarinabmw Member Posts: 4
    Can you advise on 2012 RR HSE -Chase's August MF and residual value for 36 month/10k miles...thank you
    Also, the loyalty and dealer incentive programs are $2000 and $4000, respectively ..(data from Edmunds incentive & rebate page)...realize these are at dealers discretion, but can you confirm that they can be used together?.....Land rover seems highly motivated to move these cars

    Also, as others have noted here, your info/insights are sincerely appreciated...Just finished leasing an Audi q5--your info was invaluable....also, insights and advice from users (Crimatt) are extremely helpful...THANK YOU!.....Marina
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thank you Marina. Chase's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Land Rover Range Rover HSE with 10,000 miles per year are .00176 and 52%, respectively for consumers who qualify for its top credit tier.

    You should be able to take advantage of any available owner loyalty cash, but Land Rover's dealer cash incentives typically are not compatible with its special lease program.

    Car_man
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  • rbfallonrbfallon Member Posts: 3
    Is this public information? Is there somewhere I can go to see the current information for the various lease lengths and mileage requirements?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rbfallon. Unfortunately, I am not aware of any resource that provides timely, accurate information on banks' current lease programs directly to the general public.

    Car_man
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  • rbfallonrbfallon Member Posts: 3
    Thanks Car_man.

    I require 15K miles annually, can you give me the current rates for both a 3 year and 4 year lease? I have 800 credit....

    Thanks.

    RBF
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome RBF. Chase's October buy rate lease money factor and residual value for a 36-month lease of a 2012 Land Rover Range Rover HSE with 15,000 miles per year are .00176 and 50% for consumers with your credit score.

    The numbers for an otherwise identical 48-month lease are .00198 and 41%.

    This truck's lease program is enhanced in certain states. If you tell me where you live I'll tell you if you're in one of them and what the improved lease program is.

    Car_man
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  • mmjonesmmjones Member Posts: 3
    Car_Man, I'm looking at a similar lease option above, in California. Can you let me know if CA is one of the states with the enhanced lease program? Thank you!
  • calidallasgrlcalidallasgrl Member Posts: 6
    Carman,

    Hope you can help me! :confuse: :)

    I'm in California and I am negotiating a lease for either 36 months or 48 months on an HSE LUX SPORT. Are there any dealer incentives on this model? What is the money factor for 786 FICO, and what is the end of term? Can you comment on these deals below? My preference is $0 drive off ($0 down/$0 TTL), but I think that payment is still a little high. I think they can do better on my price and the money factor. Also, on the 48 month, the money factor should be LOWER, correct? Thanks for your feedback/help! :) I'm doing this for the first time so just learning all of this! :) :confuse:

    These are the options I've been quoted:

    36 Months:
    Factory Invoice - $61,833
    MSRP: $66,795
    What is my price? $64,032.75
    What is the net cap cost? $64,032.75
    I need to understand the residual – end of term? $38,741.10
    I also need to know the money factor? .00199
    $0 down plus drive off = $2,422.79 total due at signing
    $907.07 plus tax = $977.37

    36 Months:
    Factory Invoice - $61,833
    MSRP: $66,795
    What is my price? $64,032.75
    What is the net cap cost? $64,032.75
    I need to understand the residual – end of term? $38,741.10
    I also need to know the money factor? .00199
    $0 down plus drive off = $0 total due at signing
    Payment is $979.19 plus tax = $1,055.08 incl tax

    48 months:
    Factory Invoice - $61,833
    MSRP: $66,795
    What is my price? $64,032.75
    What is the net cap cost? $64,032.75
    I need to understand the residual – end of term? $33,397.50
    I also need to know the money factor? .00210
    $842.83 plus tax = $908.15 inc tax
    $0 Downpayment, $2,352.93 drive off due at signing
  • calidallasgrlcalidallasgrl Member Posts: 6
    How do I make sure I know the exact dealer invoice price - I read that RR Sport has no dealer hold-backs. Is this accurate? The only options this car has are:

    2013 Range Rover Sport-
    Fuji White exterior/Arabica interior
    Options- Angire wood, digital and satellite radio, and luxury interior pkg.

    What's the best site to figure out the dealer invoice on this exact model?

    Thank you!!!

    -Kim
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mmjones. Yes, California is one of the states that has the better lease program as well.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello calidallasgrl. There is a $2,000 dealer cash incentive on this truck in California right now...however this cash is not compatible with its special lease program.

    The money factors that you mentioned are way too high. Chase's current 36-month buy rate for a 2012 Range Rover HSE is only .00091 for consumers who qualify for its top credit tier.

    It looks like the deals that you were offered were at around a little over $2,000 over invoice. That's not bad, but it is probably beatable if you're in an area that has a decent level of competition.

    Car_man
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  • mikeb112mikeb112 Member Posts: 2
    I need Chase money factor and residual value for November 24-month lease on HSE or HSE LUX for 15k miles or 10k

    thank you
  • warbernwarbern Member Posts: 73
    Interested in a Range Rover HSE lease but only want 24 months. Is this still available in CA? If so, please let me know the MF and Residual for 10K and 12K/year. If not, what are the lease numbers for a 36 month? Also, what kind of negotiated discount could I expect off MSRP? Thank you so much.
  • mikeb112mikeb112 Member Posts: 2
    i got $3k loyalty + $5k off msrp in ny today but 58% residual at 3.2% for 24m 10k

    residual is very bad
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mikeb112. Chase's November buy rate lease money factor and residual value for a 24-month lease of a 2012 Land Rover Range Rover HSE with 15,000 miles per year are .00092 and 58%, respectively for consumers who qualify for its top credit tier.

    The money factor for the HSE LUX is the same, but its residual value is 2% lower.

    This is the lease program for most of the country, but it is enhanced to something a little better than this in certain states.

    Car_man
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  • calidallasgrlcalidallasgrl Member Posts: 6
    I just signed a 2013 HSE LUX LEASE and the money factor for US Bank was lower for Tier 1 credit. This was the deal I got through the Mission Viejo, CA Land Rover dealership (and US Bank):

    2013 RANGE ROVER SPORT HSE LUXURY EDITION
    $68,095 - Sticker
    money factor is at buy rate 0.00142
    Residual is 50% for 12k per yr = $34,074.50
    48 months
    $896 per month (includes tax)
    $0 DOWN/ $0 DRIVE OFF

    I thank Al Hearn at Lease Guide (dot) net for the calculators I used to get this deal...It's an amazing resource. :)
  • calidallasgrlcalidallasgrl Member Posts: 6
    Contact DEAN at Land Rover Mission Viejo (tell him Kim told you to call) - he can do 24 MOnths in Cali

    I just got:

    just signed a 2013 HSE LUX LEASE and the money factor for US Bank was lower for Tier 1 credit. This was the deal I got through the Mission Viejo, CA Land Rover dealership (and US Bank):

    2013 RANGE ROVER SPORT HSE LUXURY EDITION
    $68,095 - Sticker
    money factor is at buy rate 0.00142
    Residual is 50% for 12k per yr = $34,074.50
    48 months
    $896 per month (includes tax)
    $0 DOWN/ $0 DRIVE OFF

    I thank Al Hearn at Lease Guide (dot) net for the calculators I used to get this deal...It's an amazing resource.
  • okroverokrover Member Posts: 2
    I am looking at leasing a new 2011 Range Rover HSE LUX. Can you provide the current LRF residual and money factor on a 36 and 48 month lease? Also, I see there is a loyalty incentive available right now. Will it work with the rates you give me?

    Thanks.
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