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Land Rover Range Rover Sport Lease Questions

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Comments

  • eagleeye3eagleeye3 Posts: 44
    Yeah, it would be great if someone could summarize all the key numbers for the RRS HSE, such as the current MF and Residual for 10K and 36 months, plus any additional incentives. I recently read something about $3K being offered to people coming off a BMW/MB/Audi lease. If true, can this be deducted from the agreed upon selling price (CAP COST) on a lease deal for a RRS HSE? The posts with numbers seem to be old. The killer on the RRS HSE seems to be the residual - appears to be around 53% for 10K & 36 months per a post in Feb. That's nowhere near the +60% you find with a similiarly priced BMW X5 5.0. That equates to a difference of almost $200 a month (assuming both have money factors around .00200). Any help would be appreciated. I love having the info these forums provide before facing the dealer.
  • pangaroopangaroo Posts: 8
    I ended up purchasing, but when we were discussing the lease, they said the $3000 would be dealer credit that would come after the selling price. How that exactly works I cannot tell you, but the credit is there for sure and can be applied to a lease. The lease rates were just so bad it made more sense to buy the car.

    On the purchase, the $3000 was deducted after the selling price was agreed upon and taxes were calculated.

    Good luck
  • bethrbethr Posts: 51
    same thing happened to me , so we bought- leasing is not that great right now with any LR and i hear it is going to stay that way
  • Hey wildcat_1 . Land Rover's May lease money factor and residual value for a 36 month lease of a 2010 Land Rover Range Rover Sport Luxury with 12,000 miles per year are 00251 and 50%, respectively.

    The numbers for an otherwise identical 48 month lease with 15,000 miles per year are .00264 and 40%. If you were to lease for 48 months with only 12,000 miles per year, this truck's residual value would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi quel921. Please see my previous post for the information that you are looking for. If you were to lease with only 10,000 miles per year instead of 12,000, thie truck's residual value would be 1% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_Man-

    Do you have the July Lease numbers yet for the RRS?

    Thanks!

    Kevin
  • Hello Kevin. Here's the information that you're looking for.

    Chase's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Range Rover Sport HSE with 15,000 miles per year are .00198 and 48%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • john2011john2011 Posts: 4
    Car Man

    do you know when the 2011's are coming out. In Las Vegas trying to get a 36 months deal and not only they want full MSRP($65,450), they also want $2200 down..IT IS a joke and thats for a 2010 RRS with Lux package

    how much is a good deal to negotiate off MSP for lease and do you think I should wait for the 2011??how much do you think they will lower to get rid of the 2010's

    also any way around buying the RRS from different sports where prices are more compatible, Land rover says they have a new policy you must buy in the zip code where you have the dealer and not out of different zip code or out of state

    are they HIGH in this Economy???
  • trade06trade06 Posts: 3
    edited August 2010
    I got a dealer to offer at invoice +500

    Not sure how good of a deal given 2011 are out. Also, does anyone know anything about the land rover business builder program?

    Thanks
  • Hey john2011. I believe that the 2011 Land Rovers are starting to arrive at dealers now, or at least very soon if they haven't already. Land Rover published a lease program for them in August.

    I personally wouldn't pay full MSRP for a Land Rover, but I am not intimately familiar with what the market is like for them right now. If I was in the market for one, I'd shoot for more like $1,000 over invoice and see what happens. I'm sure that dealers will be anxious to unload their remaining 2010 models once the '11s begin to arrive en masse.

    I haven't heard about Land Rover's policy stating that you have to purchase from your local dealer before. This almost doesn't sound legal to me. Dealerships are independent businesses that LR shouldn't be able to force to comply with this. I have heard about manufacturers giving dealerships that sell too many vehicles to out of area customers a hard time in the past, but I've never heard about a complete ban on sales to out of area customers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jkwirelessjkwireless Posts: 3
    edited August 2010
    I encountered the zip code policy when shopping for my Range Rover earlier this year and it was explained to me that while a dealer is allowed to sell a vehicle to any purchaser, it is discouraged by LRNA to cannibalize their neighboring dealers by selling out of their defined area. As a result, if they DO sell a vehicle out of their area, they lose the allocation to replace that vehicle (I believe it goes to the dealer in the area where you zip code is - don't recall this specific).

    This policy drove me a little nuts when I found an RR with the options and interior that I wanted, and the dealer said that they'd only let it go for full MSRP because I was out of their area. So, I think you may find that flexability from dealer to dealer may vary, and it is largely a self-imposed restriction because of the consequence. I ultimately bought inside my area, and paid around $3500 below MSRP at the beginning of this year.
  • Car_Man,

    Do you have the September lease numbers for the RRS?

    Thanks!

    Guillermo
  • Interesting information, jkwireless. Thanks for sharing. A $3,500 dealer discount sounds reasonable to me. Enjoy your new ride!

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi miamiadjuster. According to the latest information that I have seen, Chase's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Land Rover Range Rover Sport HSE with 15,000 miles per year are .00200 and 50%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car Man,

    I am looking to lease a 2011 RRS.

    What are the MF and RV of a 36-months lease, with 15K miles per year?

    Also, how is the market condition for 2011 models? In other words, how much discount off MSRP do you think we can get on these new 2011 models? Appreciate your comments.
  • I called a local dealer for a 2011 range rover sport supercharged. I am currently selling my C63 AMG looking for a 36month lease, and is unlimited miles a possible option? I didn't talk figures with the salesman, so if you could help me with how much I'll End up paying total. Thank you for your help. :shades:
  • awf_axisawf_axis Posts: 136
    There is no "unlimited mileage" lease available. The whole design of a lease is for you to pay off the "depreciable" portion of a vehicle over the specified lease term. This means that at the end of 36 months, the residual value must be considered BEFORE figuring out the payments.

    In the most simplistic terms, if the residual of a $80k RRS SC is 50%, then the residual is $40k. You will take the $40k, divide by 36 payments ($1,111), then add the "interest factor" into the monthly depreciation, to get your payment.

    The factor is some value like .0020 times the sum of the overall vehicle price and residual. This would be $120k in this example, so the monthly add-on is $240. So your payment is $1351, before tax. Figure another $100 more for tax at a total payment of $1451. This assumes NO cap reduction, but you pay all registration, doc fees, deposit (if any) in cash.
  • Would that be 1400 a month ? I'm totally new to the lease thing
  • awf_axisawf_axis Posts: 136
    In my example, I'm being generous with the residual to arrive at a $1451 payment. In real life, I believe that the residual is LESS for the SC version, which means the payment is higher.

    I can understand the idea of leasing may be convenient if you don't want to hassle getting rid of it at the end of 3 years. Vehicles in this price range are not easy to find buyers for, and trade-in values can be pretty low.

    However, I opted to purchase because my trade in gave me $33k, and the resulting payments are less than any lease could provide. If you look on this forum for my recent posts (RRS), you can see the deal I made.

    I did not get an SC version, and so the market is a bit better in the long run. If I like the vehicle at the end of its 4 yr warranty, I may buy an extended warranty and drive it till the wheels fall off.

    Good Luck.
  • Can some tell me the current Money Factor and Residual for a Range Rover Sport HSE LUX, best lease term, 12k miles per year? Also, When do the Range Rover programs normally change.

    I would be very grateful for any help I can get.
  • I will have around $15,000-$20,000 to play with. For example only, if I was to put $15,000 down. What would my payments look like on the '11 RRS SC

    Also is there a way to extend from 12k miles per year, to possibly 15-20K?
  • Anyone know the current money factor and residual on a 2011 RRS HSE for 36 months with 12K miles? Thanks!
  • Did this thread die? If to put a 15-20,000$ down on a 3 year 36K mile lease... What would my monthly payments look like on a 2011 Range Rover Sport Supercharged ??
  • awf_axisawf_axis Posts: 136
    edited December 2010
    The answer man is really CAR_MAN. But because this thread is rather quiet, I don't believe he responds that often.

    The math as I explained before is rather simple, but the lease factor rate and residual must be known before a precise answer can be given.

    Considering you want to lower the cap-cost by half of the depreciation, I would believe you would be half the payment I indicated before. So $700 with 20k down maybe?

    You should strike up an email conversation with a LR "Internet" manager at any dealer that has a model you are looking for.

    Since they can't cloud your thinking with emotion, they tend to be more frank and will provide better pricing details.

    When you are on the lot, and you're drooling on the upholstery, they have the advantage.

    Dave
  • Looking for January lease numbers for the RRS HSE and HSE LUX. Its amazing to me that they reportedly have such high resale figures yet the leases are pretty poor. BMW and Mercedes have far more attractive programs.
  • they lease out decent this month.
    case is runnning great programs on 2011 sports
    750 with 0 down on 42 months
    the residual drops 4% on the lux causing lease #s to skyrocket
  • bethrbethr Posts: 51
    where is this- can't find any for this cheap
  • Hi Christian_J. Land Rover's January buy rate lease money factor and residual value roe a 36 month lease of a 2011 Range Rover Sport HSE with 15,000 miles per year are .00330 and 63%, respectively.

    The numbers for an otherwise identical lease of a 2011 Range Rover Sport HSE Lux .00330 and 59%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jgavjgav Posts: 12
    hey all. I just left a deposit on a 2011 RRS with luxe and the entertainment (headrest LCD's). Here is my deal....36 month....15k....tax, title and fees upfront totaling $4,900 (i live in NY) lease payment of $929.00 seems to be a decent deal, I wanted to get some thoughts. Thank You in advance.
  • That sounds good for a LUX. Can you post the details (MSRP, negotiated price, money factor, residual,etc). Thanks
  • jgavjgav Posts: 12
    update: I was going back and forth between two dealerships so I now have a revised deal. Same vehicle but now at 889.00 a month 5,200 out of pocket(needed new plates, so slightly higher). I feel this is a excellent deal. plus the salesperson was very tolerant with the back and forth. Not sure I can do better than this. As far as MF and residual I am not sure exactly.
  • It would be very helpful if you can get that info from your sales contract. It would remove the variables like state tax, doc fees, DMV fees, etc. You could post where you're getting the best deal too. Thanks.
  • jgavjgav Posts: 12
    i am going in tomorrow to finalize. when i get the info i will post. as of now all i have is package/options out of pocket and monthly payment as of now
  • jgavjgav Posts: 12
    Santorini black, Ebony interior, Luxury Package, HD satellite radio, ipod cable, dealer installed Headrest Lcd's... MSRP 67,095... actual price 64,431.23... residual %59... MF 00240... 36 month... 15k a year... monthly payment.. $889.15. .. total out of pocket breakdown : 1st pymt $889.15, acquisition fee $795.00, dealer supplied coupon for cap reduction $1,500, sales tax (NY=8.625) $2,980.56, tire fee $12.50, registration fee $260.00, inspection fee $10.00, + additional cap reduction of $170.79(paid by me) for a total of $5,200 out of pocket . What does everyone think? I feel this is a great deal. In addition I was able to have the dealer include the rubber mats for the front and back. Any thoughts would be appreciated. I hope this helps.
  • I've spoken to three different dealers in the last day, and I've been quoted three different money factors on a 36-month lease for the Range Rover Sport HSE w/ LUX - .00240, .00291, and .00340. I saw that Car Man recently posted a message indicating a money factor of .00330, and another forum member (jgav) just posted his deal indicating a money factor of .00240. All the dealers that I spoke with indicated a 59% residual for a 15k / year lease, but each gave a different money factor (all supposedly through Land Rover Financial). What gives? Car Man - any thoughts?
  • awf_axisawf_axis Posts: 136
    The money factor is one of those things that a dealer can mark-up for their own "revenue enhancement". Chase has a posted "buy rate", and it's all uphill from there.

    The residual is not typically adjusted, as this affects the lease end value.

    Once the lease is funded, the difference in the payment from the "buy rate" to the rate YOU pay is given back to the dealer in one lump sum.

    As an "informed" consumer, you can certainly negotiate this money factor as well as the agreed "selling price" basis used for the lease.

    This rate will get lowered during face-to-face battles, provided you are not easily swayed by the intoxication of "new car smell", and the key fob being waved in front of your face.

    I always have a laptop with me, and Excel open with a pre-programmed spreadsheet to analyse the numbers being thrown at me. Every little nickel and dime add-on gets exposed when all the 5 major numbers are given.

    Selling Price
    Cap Reduction (if any)
    Money Factor
    Residual %
    Lease Term

    Tax comes in later, and can vary in different states as to how it's applied.

    Dave
  • Thanks for the info, Dave. How can I find I the lowest "buy rate" so that I know where I'm negotiating from? I understand lease math and how the different inputs impact the final payment, but not sure where to get the "real" money factor that the dealer is working from. I know that there are several sites, like Lease Compare, that regularly post money factors and residuals for a variety of manufacturers, but Land Rover isn't one of them. Car Man posted a money factor of .00330 last week, but that's higher than two of the three quotes that I got, and also higher than .00240 that another poster indicated he recently got. Is there a definitive source that will allow me to find out the money factor that is actually available to the dealer?
  • awf_axisawf_axis Posts: 136
    Finding the rate is going to be difficult without someone from the inside (LR or Chase) offering up the details. I would have to say that the .0024 rate, if offered on the LR/Chase paperwork, should be what you might consider the base.

    The web-site below is a place where many people report current rates, but LR is left out as you have found elsewhere. However, Jaguar has a Jan lease rate posted, and they LR/Jaguar are the same entity. However, how the cars are priced/rated are probably different.

    http://www.ridewithg.com/index.php/category/lease-rates/

    Look for the Jaguar Jan 2011 rates.

    Dave
  • eur0gurleur0gurl Posts: 1
    edited February 2011
    I'm not sure if this information will help anyone. I did notice that the best deals on this forum seem to always be located in NY or the east coast. I imagine they have a port of some kind near.

    Keep in mind we only have 1 LR dealer in the Las Vegas and companies in CA and AZ won't compete for sales unless you agree to register your vehicle in the state you buy it in. Crapy rule for our city. Fortunately the costomer service from the sales team and mangers is amazing! For sure the best buying experience I've had. This was before they qualified me out too!

    So this is what we worked out.
    2011 hse luxury model
    black exterior
    Black ebony interior w white/ivory contrast stitching
    Logic 7 sound system
    All weather mats front back and trunk
    Dealer tinted all windows
    Interior leather protection
    Paint protection
    20in lux wheels (standard)
    Nitro fill tires w service warranty
    Lo-jack
    36 month lease w chase .0024 money factor w 60% residual .0875 in Nevada taxes $7500 down. Payment $997.00 first payment acquisition fee included.
    $64145 purchase price
    Sticker price $704145

    What I've realized is land rover doesn't really have great deals. Basically if you have a specific range rover in mind start looking ahead of time. Their production from wjat ive been told is $33000 units per year. Most dealers have to trade trucks and pay extra shipping so be prepared to pay near sticker price if you live in this area. The sales guys did give us multiple day passes for Brian head skii resort and $50 credit to use on any merchandise in the store. They give fantastic demos of the car including using the rock climbing track going up the 37 degree angle! It's scary but amazing. I would highly suggest if you live in the area to go see them they will try to get you the best deal but they gotta eat too! I worked with Nicolas he's a gem knows the trucks very well!

    I think that concludes my novel. I hope this helps someone. Feel free to ask me any questions.
  • Hi all, first post and I was just priced on a 2011 RRS/SC. Need some help in seeing if this is a good deal:

    MSRP: $78,215
    Sale Price: $76,000
    36 Months, 12K per year
    Money Factor: .00329
    Residual 56%
    Monthly: $1,319

    In addition, taxes, fees, and first payment due at signing. I reside in IL so tax is around 8.5%. I'm I'm reading these payments correctly, I'm paying a little over 45K to lease a 78K car for 3 years. Doesn't sound like a good deal and based on the .0024 MF I'm seeing above.
  • I just got an email from the local Land Rover dealer with this lease:

    Range Rover Sport
    $799 month
    $2995 total due
    36 months / 10,000 miles
    0 sec dep.
    Climate control package, Sat/HD radio package

    Is this a good deal?
  • nlezzonlezzo Posts: 7
    what dealer is this at jgav
  • navyscponavyscpo Posts: 20
    Jake Kaplans in RI. I don't know if they still have the same deal. I decided to buy an LR2 instead. I got a good deal. They are very good to deal with.
  • nlezzonlezzo Posts: 7
    does anyone know when the 2012 rrsport comes out? Im assuming thats the best time to lease a 2011?
  • awf_axisawf_axis Posts: 136
    Right now Chase/RR Financing is offering a lease deal. I wouldn't hold my breath on getting a better deal during year change-overs. The usual thing they do is offer lower finance rates on the older units. The newer models will most likely be held to MSRP.

    RR's don't spend a lot of time on the lots despite the economy, so any deals would be marginal. With a lease in mind, being a model year behind doesn't help the residual either.
  • escalade24escalade24 Posts: 29
    Hi everyone, I was wondering if anyone has been able to pick up one of these around Invoice pricing. I am looking at the HSE base and would like around 1k below invoice, has anyone been successful at doing this?

    With gas prices as is and the 2012s coming out in September should I wait until July for a better deal?
  • navyscponavyscpo Posts: 20
    I just bought 2011 LR2 with the lux package. $44000, got for $38300. The invoice price for a new lr2 base is around 33,200. You should'nt have a problem getting that price depending on the dealer. I was offered a base for around $34,000 without haggling. I chose the LUX package because I liked the leather seats and upgraded stereo.
  • tbettbet Posts: 1
    what the minimum credit score they are looking for this special?
  • navyscponavyscpo Posts: 20
    I don't know.
  • Hey y'all I just picked up my 2011 RRsport HSE LUX with Vision Assist and Rear Seat Entertainment.

    Here are the Figures

    8k down (from trade in)
    792.00 month
    12k 36months

    (zero out of pocket)

    Let me know your thoughts. I think its a good deal.
This discussion has been closed.