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Land Rover Range Rover Sport Lease Questions

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Comments

  • awedioawedio Member Posts: 57
    what dealership are you dealing with?
  • awedioawedio Member Posts: 57
    the 6k cash is from Land Rover
    you can not combine this cash with land rovers residual [(24 mo., 10k miles = 65%) & low MF (0.00165) -12k miles = 64%, 15k is 62%]

    With that low payment you have, I'm pretty sure they used the 6k cash in your deal
  • hjsahjsa Member Posts: 1
    I am new to this site (and leasing in general). I am getting a quote from a NY dealership for the RR Sport with luxury package for $799/month with $0 down. It comes with 12,000 miles. This number does not include NY sales tax. What should I be negotiating the dealer down to?
  • morpheus9922morpheus9922 Member Posts: 12
    Hi there. Does anyone have the info on the residuals and money factors and extra fees (like acquisition fees) for a RR Sport Supercharged for 36 months? I am in CA.

    Thx!
  • morpheus9922morpheus9922 Member Posts: 12
    Hi there. Does anyone have the info on the residuals and money factors and extra fees (like acquisition fees) for a RR Sport Supercharged for 36 months? I am in CA.
  • awedioawedio Member Posts: 57
    see Reply # 255 for car_man's reply
  • morpheus9922morpheus9922 Member Posts: 12
    Hey there. Thanks for the reply. I think #255 was about a 24 month lease though. I was hoping to get that similar info on a 36 month. Thx!
  • awedioawedio Member Posts: 57
    keep in mind, with Land Rover Capital, the "sweet" spot for a lease is at 24 mo.
    The rates & MF are worse at 36 mo.
  • morpheus9922morpheus9922 Member Posts: 12
    Hey there yeah that makes sense. Do you happen to know what they are? Thx!
  • awedioawedio Member Posts: 57
    from post #255

    The numbers for an otherwise identical lease of an '08 Range Rover Sport SC are .00082 and 59%.

    Car_man
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  • morpheus9922morpheus9922 Member Posts: 12
    The #'s in post 271 are for 36 mo 12k miles?
  • bluefin2bluefin2 Member Posts: 4
    given it's July 31...Does anyone think under $800 a month taxes included (all in) sound like it could get done? That is $0 down 36-39 months with 15k miles. RRS sticker 62,400 on the one I looked at
  • awedioawedio Member Posts: 57
    no way, no how, assuming a sales tax of 7.25% & using the 6000 dealer cash
    the only way to get that pmt, your cap cost on the car would have to be approx 53850.
    invoice is 57700, I don't see an RR dealer selling you that car $4k back of inv
  • roverboyroverboy Member Posts: 26
    I've never seen or heard anyone getting a RRS luxury package (around 61450 msrp) for anything less than $900 per month (all in, no down payment). I had a pin number for the ford employee discount and still had to fight hard to get the payment down to $933 per month, ($0 down, taxes included, 36 month lease in CA). I've never seen or heard anyone getting it down to $800. Although, with tax that's closer to $900 per month. But still a hell of a deal. maybe the economy is that bad that you can get this kind of pricing, so good for you. I got my lease over a year ago. what dealer are you using in CA?
  • morpheus9922morpheus9922 Member Posts: 12
    All I keep seeing here is info on 24 months leases. I understand that is where Land Rovers best rates are... just curious if anyone has the following for a 36 month lease.

    Hi there. Does anyone have the info on the residuals and money factors and extra fees (like acquisition fees) for a RR Sport Supercharged for 36 months? I am in CA.
  • awedioawedio Member Posts: 57
    acq. fees = 595
  • morpheus9922morpheus9922 Member Posts: 12
    And the residual and factor on a range rover sport SC for 36 month?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi morpheus9922. Land Rover Capital Group's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Land Rover Range Rover Sport Supercharged with 15,000 miles per year are .00269 and 54%, respectively. If you were to lease with only 12,000 miles per year, the residual value would be 2% higher. The last time that I checked, LRCG charged a $595 acquisition fee on every vehicle that it leased.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey morpheus9922. See my previous post for the info that you're looking for.

    Car_man
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  • morpheus9922morpheus9922 Member Posts: 12
    ty!
  • bluefin2bluefin2 Member Posts: 4
    Picking up 08' RRS HSE on Sat...signed papers 7/31....I believe an amazing deal
    only question is should I buy any of the extra's outside of the wheel package they offer ...Is the resistall worth it for ivory interior?
  • awedioawedio Member Posts: 57
    pls share details of the deal
    where is the dealer located?
  • bluefin2bluefin2 Member Posts: 4
    not sure if the Resistall is worth it (ivory interior) on a lease? in MA
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, morpheus9922.

    Car_man
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  • morpheus9922morpheus9922 Member Posts: 12
    Hey there. I'm being told that land rover has put a moratorium on their rates. Anyone heard about anything like this or what any of the new incentives for August are?
  • awedioawedio Member Posts: 57
    Good luck to anyone trying to lease, the rates are god awful!!

    LR Capital has $9k ATS cash, it can only be used with a 3rd party leasing company.
    US Banks 36 mo res is around 33%
    Chase Financial's 24 mo res is 60-63% but MF is .00515
    LR Capital's 24 mo res is around 53% with a MF of .00390, if you're willing to go 48mo, then the MF drops to .00350
  • jbratxjbratx Member Posts: 40
    A friend of mine told me about this. He said leasing right now is horrible. The residual value of the vehicles in the SUV market have people upside down.
  • awedioawedio Member Posts: 57
    Those lease rates are so bad, it's not even funny.

    Lease a used (lease return) 06 RRS or RRS SC, for now, that's where the value is, till they change the programs!
  • roverboyroverboy Member Posts: 26
    the residual doesn't really matter if you know you don't want to buy the car at the end of the lease. also, these trucks are always in high demand bc of low supply, so their value should hold up nicely so if you get a decent residual and you don't use all the miles, you might be able to buy the car out and sell it for more than the buyout price.
  • hlvertinhlvertin Member Posts: 2
    I heard there supposed "deals" going on for the 60th anniversary but wondered what people are getting these days for lease - length of term, mileage, and cost.
  • roverduderoverdude Member Posts: 12
    I just talked to my LR Dealer and wanted to check on rates. He said the MF was .00425. I think that is very high, especially for a credit score well above 700. The residual was 58% for a RRS Supercharged for 24 mos 15K/yr. Anyone else hear of such high MF's?
  • awedioawedio Member Posts: 57
    your LR dealer is not lying, the rates on new leases make absolutely no sense.

    A month ago, I leased a 06 RRS SC with 28K miles, 24 mo, 12 k miles. It was less expensive to lease than a new 08 RRS
  • drvannostranddrvannostrand Member Posts: 1
    Hey everyone-

    So, television specials usually have fine print rivaling War and Peace in length which is always entertaining to read. But, I just hit pause on my DVR on the offer details screen and there are no shenanigans to speak of for their 60th Anniversary Event. What do you guys think is going on? It is a 4 year lease term which is a year more than is prudent (if there’s anything prudent about acquiring a British automobile). Even so, judging from the previous posts and the preposterous money factors quoted by dealers, something is afoot... The fairly well-optioned X5 I'm comparing it to has a monthly payment of around ~$850/mo for 36 months with nothing due at inception. Here's a transcript of the ad, lifted from the freeze frame:

    Sign and Drive $0 DOWN $799/MO*
    EXCLUDING TAXES, TITLE AND LICENSE FEES.
    2008 RANGE ROVER SPORT HSE, INCLUDING COLD CLIMATE PACKAGE
    AND SATELLITE RADIO. 48-MONTH LEASE.

    *For well-qualified customers only. Not all lessees will qualify for Land Rover Capital Group lease. Includes Retailer cash from Jaguar Land Rover North America LLC. Payments may vary. Dealer determines price. Residency restrictions apply. For special lease terms, take new retail delivery from retailer stock by 9/30/08. See your participating Land Rover Retailer or call 1-800-FIND 4WD for complete details. (c) Jaguar Land Rover North America LLC.

    Thoughts?
  • awedioawedio Member Posts: 57
    hehe, very funny

    There is nothing afoot, LR Capital rates aren't very good, bottom line. They may change tomorrow....who know's!

    btw, if you don't like that lease, you can take the 6 or 9k cash & try Chase or US Bank. I'll bet you won't like the rates either.

    Right now, unless the programs have changed, it makes more sense to lease a used RR 06 or 07 from LRover Capital
  • roverduderoverdude Member Posts: 12
    Thanks for the replies. Makes me feel better that he is not lying to me. If LR Capital changes the rates, please update the forum with what they are.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi roverdude. Land Rover's lease program on the Range Rover Sport is unbelievably bad right now. Its buy rate lease money factor is currently .00394. This is slightly better than the factor that you were quoted, but still terrible. It's equivalent to an interest rate of almost 9.5%. Anyone who wants this truck would be better off financing it, paying cash for it, or leasing a luxury SUV from a different manufacturer.

    Car_man
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  • mmalonsommalonso Member Posts: 4
    Just leased an 08 RRS in So Cal. $63k list, $56k purchase price, 48 month lease with US Bank, $830 a month plus tax. Just drive offs due, no cap cost reduction. Residual is brutatl right now, in the 32% range and the money factor was around .0020. Hope this helps people, its the best I could find around Los Angeles.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mmalonso. Thanks for taking the time to share the details of your lease with everyone. I'm not surprised that the dealer that you worked with ran your lease through an independent bank. Land Rover's lease program for the 2008 Range Rover Sport is absolutely horrible right now.

    If you'd like, you can stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride :shades: !

    Car_man
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  • joelpalmerjoelpalmer Member Posts: 2
    What is the best lease deal with zero down for 36 months for a Land Rover Sport?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi joelpalmer. The lease payment for a Range Rover Sport will depend upon how it is equipped and in turn what its MSRP and selling price are. I would be happy to work up a sample payment for you on the exact truck that you want if you provide me with these numbers. If you haven't gotten them from a dealer yet, you can hop on over to the New Vehicle Pricing section of Edmunds.com and look them up there. Let me know and I'll crunch some numbers for you.

    Car_man
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  • arlingtonva1arlingtonva1 Member Posts: 15
    I have limited lease knowledge. Could someone quickly check this and let me know if it's a good deal. I may close tommorow. All the research Ive done shows that it is. Im worried about the residual, money factor. The sell price is good due to incentives.

    36 month lease, 15k per year.
    MSRP $73450
    Sell Price $56900
    Doc Fee $225
    Acq Fee $795
    Residual-36%
    12k down payment
    State Taxes-3%
    Money Factor-.00225
    Rate-5.4%
    monthly payment-$818.90

    Buying is not an option. My accountant wants me to write the lease off as a business expense.
  • rover_guyrover_guy Member Posts: 17
    Hi Arlingtonva1,

    Not sure if you purchased your sport, if you did not I can help you understand the process, and double check your deal for you.

    Rover-Guy
  • roverduderoverdude Member Posts: 12
    Does anyone know that current lease rates for 08 and 09 Range Rover Sports 24/30/36 months 15k/yr. Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi roverdude. Here's the information that you're looking for. Land Rover's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Range Rover Sport HSE with 15,000 miles per year are .00018 and 60%, respectively. The numbers for an otherwise identical 36 month lease are .00027 and 48%.

    Land Rover is not providing lease support on 2008 models any longer.

    Car_man
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  • rr4mywiferr4mywife Member Posts: 60
    Hi Car_Man - I live in the NYC area and there are some good lease programs for RRS. The dealer is offering a '09 for - 10K/year a year, 39-months, taxes rolled in, with first payment, motor vehicles and bank fee out of pocket (~$2000), the lease is ~840/month. Note: taxes in NY are 8.625%

    Is this a good deal?
  • herimoralesherimorales Member Posts: 1
    Looking into leasing one of the above for 24 months or 30. What is the current MF, and Residual Value on a 2009 RR or RRS? A dealer quoted me an aquisition fee of $795 but I saw in previous posts that its usually $595. Has this gone up? I'm in Texas by the way.

    Looking for Alaskan White with alpaca seats and walnut wood trim luxury package interior and rear entertaintment system with sirius radio. What would be a good deal considering the above?
  • mlad11mlad11 Member Posts: 19
    If you dont mind me asking, where in NYC are you getting those numbers from? I am in NYC and in the market for the same car and that seems like a decent price, although i would need 15k per year. So if you could let me know which dealership that would be great. Thanks in advanced.
  • mlad11mlad11 Member Posts: 19
    Ended up getting one from Land Rover of Paramus yesterday. 2009 RSS Luxury Package 36 months 15k/year. First month, Bank Fee, Doc Fee and DMV charges upfront(around $2000) and $899/month with taxes rolled in. Thoughts?
  • roverlooker1roverlooker1 Member Posts: 4
    Does that MF & residual apply to a RRS supercharged model as well. Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rr4mywife. Land Rover's lease program on the 2009 Range Rover Sport is surprisingly decent right now. If you were to lease an '09 Range Rover Sport HSE right now for 39 months with 10,000 miles per year, I believe that its buy rate lease money factor and residual value would be .00048 and 48%, respectively.

    It is difficult for me to evaluate the specific deal that you mentioned in your post without knowing what the truck's MSRP or dealer invoice price AND its selling price are. The prices of leased vehicle 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 dealer discount you are being given. Let us know what these numbers are and I'm sure that either myself or another knowledgeable community member will be happy to tell you what they think.

    Car_man
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