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Land Rover Range Rover Sport Lease Questions

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Comments

  • CarMan@Edmunds[email protected] Posts: 38,515
    Hi emepstein. Here's the information that you're looking for. Land Rover Capital Group's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Range Rover Sport HSE with 15,000 miles per year are .00275 and 52%, respectively. Vehicles' residual values are calculated using their full MSRPs plus the MSRPs of any factory-installed options.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • alwaysarookiealwaysarookie Posts: 17
    Guys,
    I am in the market looking at RRS & RRSS for 24 months with 15k/yr.

    The best price I have are as follows:
    1. RRS - MSRP ($64,900) - dealer discounting it to $60,900 - $1053
    2. RRSS - MSRP ($74500) - dealer discounting it to $70,500 - $1251

    For both I am paying just the first month's payment and the monthly includes taxes.

    Should I be looking at details such as money factor and I am also considering buying the car at the end of the lease what should that price be?

    Thanks
  • CarMan@Edmunds[email protected] Posts: 38,515
    Hi alwaysarookie. You were smart to find out the selling prices of the trucks that you are interested in. Many consumers forget that the selling prices of leased vehicle are negotiable and just focus on the payment. It definitely wouldn't hurt to find out what money factor the dealer is using to calculate your monthly payment. Land Rover Capital Group's current buy rate lease money factor for a 24 month lease of a 2008 Range Rover Sport HSE is .00224. The number for an otherwise identical lease of an '08 Range Rover Sport Supercharged is .00283. If the dealer tries to use higher money factors than these to calculate your lease payment, they are likely trying to mark-up your truck's money factor to add additional, hidden back-end profit to your deal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • alwaysarookiealwaysarookie Posts: 17
    So this is what I was able to work out:

    Range Rover Sport for $999 a month/12k miles/yr with $1500 out of pocket and 24 month lease.
    Ranger Rover Sport Supercharged for $1099 a month/12k miles/yr with $2000 out of pocket and 36 month lease.

    Now which one should I go for? I test drove both last evening and Supercharged def handles better and the pickup is just amazing but does not come with Rear Entertainment and stuff. Just base Supercharged and on the other hand, the regular one is not bad and comes with Rear Entertainment, Luxury and Sirius. So which one to go for?
  • scottinkyscottinky Posts: 194
    why do you want to spend so much money per month on a POS you won't
    own? damn. this economy sucks, gas is high, get something more
    reasonable and fuel efficient for less money.
  • donchardonchar Posts: 35
    the Sport Super sounds like a decent deal, what capitalized cost, money factor and residual were you quoted? was is from US Bank or Landrover capital?
  • current1current1 Posts: 1
    Carman,

    I was wondering if the Land Rover Financial lease money factors and residuals have changed since your 11/26/07 post, and if so, what they currently are for 24, 30, & 36 months leases with 10.5K, 12K, & 15K allowed miles?

    Thanks
  • jbratxjbratx Posts: 40
    Does anyone know when the 2009s will be available?
  • mrchilimrchili Posts: 17
    Hey Carman,

    Does this deal look good or can I still negotiate????

    $54,995* ON 2008 RANGE ROVER SPORT HSE
    $699* LEASE FOR 24 months $0 down if current LR owner
    10500 miles year

    Could you fill me in on the Lease factor and Residual for a Sport??

    Thanks
  • alwaysarookiealwaysarookie Posts: 17
    Mr Chili

    Here is my insight on it:
    I went with the RRS MSRP of $64500 - $999/month $2k out of pocket (tax, title etc) 12k miles a year

    From the MSRP prespective I looked at a few other cars:
    - I negotiated at $54,000 BMW down to $1500 out of pocket and $579 a month (including Taxes)
    - Audi Q7 $55,000 - $849/month for 24 months
    BMW has the best 24 month lease while Audi has the best 36 months. If the quote you are getting is the ad special you might be able to break it down a bit more.
  • jimmyj4jimmyj4 Posts: 4
    Depending on when the 2009 RRS models are released, is it worth waiting a couple of months to see if I can cut a better deal than: $681/month all in with $5k down or $779/month all in with $3k down on a 24 month lease with 12k miles per year. I can take advantage of the $2k loyalty incentive now, but I don't NEED to get something until July. What is the consensus - are deals going to get better based on economy and season, or will supply shrink and deals like this dry up? Any thoughts appreciated...
  • CarMan@Edmunds[email protected] Posts: 38,515
    Here you go, current1. Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Range Rover Sport HSE with 15,000 miles per year are .00224 and 66%, respectively. The numbers for an otherwise identical 27 month lease are .00245 and 59%. Its 36 month numbers are .00260 and 53%. Its 10,500 mile per year residual values are 3% higher than this and its 12,000 mile per resids are 2% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@Edmunds[email protected] Posts: 38,515
    Hey mrchili. Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Land Rover Range Rover Sport HSE with 10,500 miles per year are .00224 and 69%, respectively.

    The lease that you mentioned in your post looks like an official Land Rover advertised payment. Most manufacturers' advertised lease payments leave a little meat on the bone so to speak. If this is an official advertisement, I suspect that you will be able to negotiate a lower selling price than the one that was used to calculate this payment...assuming that you are in an area that has a decent level of competition.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • rollashowrollashow Posts: 1
    Looking to purchase a pre-owned 2008 Range Rover HSE - Landrover dealer offering 973.00 a month. This car has 7000k miles Luxury package with rear entertainment. Not happy with the selling price how much should I negotiate off.
    At the same dealer they are offering me for a brand New 2008 Range Rover HSE - they are offering me 2008 with luxury package for $1078 (selling price 59400, 36 months, 12,000 miles).
  • mrchilimrchili Posts: 17
    Thanks Carman, turns out that ad was for a specific vin only....this is the deal their offering me, let me know what you think.....

    new 2008 RRS w/lux pkg
    msrp-$62400
    sale px - $58604 (invoice according to them is $57804)
    $2995 current LR owners (they say Edmunds $2k is wrong)
    so my cap cost would be $55604
    all fee's and tax would be $3300
    monthly pyt $743.83 for 2yr lease w/10500 miles-
    (assuming I pay the $3300 upfront)
    They confirmed Res-69% & Lease factor of .00224

    I told them I have a LR coupon for $1500 but they said it can't be combined with $2995 incentive (even though Edmunds $2k incentive says it can be combined)

    any comments?
  • british_roverbritish_rover Posts: 8,458
    Its really a 3,000 dollar owner loyalty incentive and no it can't be combined with the LR coupon. I don't see why they would say it is 2995 that just sounds fake.
  • user124user124 Posts: 5
    Can someone please confirm the $3,000 and whether it applies to non-Land Rover finance leases? I got a note from my dealer saying it was $2000 for RRS or FFFR, and $1500 for LR3. My RRS lease is up in 3 weeks.
  • british_roverbritish_rover Posts: 8,458
    It is 3,000 on the Sport only and that is a recent change. They started off with a 2,000 dollar owner loyalty and bumped it up to 3,000 dollars just a couple of weeks ago.
  • shimpshimp Posts: 2
    Thanks for the great help I get on these forums.

    Looking to Lease a RRSS and these are the numbers after a week of negotiations.

    RRS Supercharged Loaded, rear entertainment. (dealer demo with 7K miles) - Quoted $66,000 24mo. 12K $1175. The money factor quoted was in the .003 range and 70% residual.

    Just wondering if this is a good deal? :confuse:

    Thanks SO much!!

    jim
  • russellnyc212russellnyc212 Posts: 1
    Thought I would share my current deal I took on a RRS: Seems competetive:
    New 2008 RRS/Luxury
    10,500 Miles
    24 months
    $3150 Inception for a $799 monthly lease
    or $2500 down brings the pmt to $689
  • awedioawedio Posts: 57
    what other incentives are available on the '08 RR Sport?

    I can't get the loyalty cash, since I currently don't own a Land or Range Rover
  • roverboyroverboy Posts: 26
    sounds reasonable, but I've never heard of an "inception fee." sounds more like a disguised down payment. So if you amortize that $3100 over 24 months that another $130 per month, effectively. So now your $799 per month quote is $930 per month. Add in the state tax (say, 7.5%) and now your looking at $1000 per month payment. Still a good deal, but I'll say it before and I'll say it again: the dealers will try to screw you every way they can. Be careful, those ads in the paper for monthly lease prices are deceiving, as shown above. let us know if you close the deal.
  • awedioawedio Posts: 57
    what is the official invoice price for a base '08 RRS HSE with msrp of $58,500?
    The sales manager at a dealership in SoCal is trying to tell me his invoice is $55,300?
  • user124user124 Posts: 5
    RussellNYC-- Are you a returning LR owner? Can you identify the dealer?

    Also, I assume from your name that the car was bought in NY. When you say $3150 "inception," I assume that is basically the up-front NY sales tax, first month payment, and the usual nickle and diming (acquisition fee, DMV fe, etc), not any capital cost reduction?

    I am being quoted similar figures in NY, but that is after the $3000 returning LR owner incentive.
  • awedioawedio Posts: 57
    Car_man,

    what is the current Land Rover Capital Group's current buy rate lease money factor for a 24 month lease of a 2008 Range Rover Sport HSE?
  • CarMan@Edmunds[email protected] Posts: 38,515
    Hi awedio. Land Rover's second quarter lease program is scheduled to end this week. Its' 24 month, 15,000 mile per year money factor and residual value for the 2008 Range Rover Sport HSE were .00224 and 66%. I have not seen its new third quarter numbers yet, but I can give you an update with the new info if you post a reminder for me in a few days.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • awedioawedio Posts: 57
    ok, will remind you in a few days!
  • awedioawedio Posts: 57
    Car_man,

    any updates on the 3rd qtr lease numbers?
    your website shows a mfg to dealer rebate of $4k, can that be applied to a lease?
  • bblackman1bblackman1 Posts: 1
    Hello everyone, I have a few questions and am not sure if I am going in the right direction. I have never leased and or owned a Land Rover, but they seem very nice.

    I have the following offer from the dealer and did not know if it was a good one or not. I have a feeling that it is high but they are the only dealer around the area so???

    This is a 2008 Land Rover HSE with everything- Luxury, Entertainment, Chrome Everything for $94,500

    L.E.V 61%
    residual 58090.30
    selling price
    Cash down $15,000
    24 month lease
    1106.58 monthly payment
    84.65 monthly tax
    1191.23 Total Payment

    Total Down including tax 17,813.23

    I told him I wanted the payment to be lower than 1200 per month, but I thought the down payment was a little high. Any help I can get would be great.

    Thanks

    B
  • bogi1bogi1 Posts: 7
    Hi there,

    You're right, the DP seems really high. I believe that with a 15K DP, your payment should be a lot lower than that.

    Bogi
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