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Prices Paid: Buying & Leasing Experiences Land Rover Range Rover Sport Lease Questions
384 messages, Last post on Nov 29, 2009 at 3:07 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: lookinforhelp (Sep 16, 2005 4:06 pm) 
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You're very welcome brian500. I don't personally have a Range Rover Sport, though I wouldn't mind owning such a neat looking truck. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi heli_doc. I hesitate to answer any specific income tax questions because I am not personally an accountant. I can tell you though that you cannot return a truck with a leaky sunroof, regardless of whether it was financed or leased. If you have one that has this problem, you will have to take it to your local dealer to have it repaired under warranty. Car_man Host Smart Shopper / Prices Paid Forums |
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I am looking at the RR Sport, HSE with lux package, satellite radio and bluetooth. Sticker is $60,300, selling price $58,800. For 36 months, 10,000 miles it is about $925 / month. It is through Land Rover Capital. Their money factors strike me as high but I'm not sure. Any thoughts? |
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Hi ll10. Land Rover is not currently providing much in the way of lease support on the Range Rover Sport. If you were to lease a 2006 Range Rover Sport through Land Rover Capital Group right now for 36 months with 10,000 miles per year, its buy rate lease money factor and residual value should be .00285 and 60%, respectively. Using these numbers, an MSRP of $60,300, and a selling price of $58,800, I come up with a 36 month, zero down, pre-tax monthly payment of around $899. This is not that far from the payment that you were quoted. If you are having your truck's security deposit waived or if your quote includes tax, that would make up for the difference. Car_man Host Smart Shopper / Prices Paid Forums |
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it seems if MSRP is 57 for the HSE and invoice is closer toi 51k. with a little downpayment you could get 36 months & 10kmiles for  $600/month. putting down a small down payment, say $3k is not an issue as suggested above. I think that is is just a question of the time value of money. If the car gets totaled, insurance will pay to recoup the car. does anyone else think it is possible to get the RR Sport base model for 600/month with 3k down?
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Replying to: rrfan1 (Oct 03, 2005 10:57 am) |
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Replying to: dwax1 (Sep 07, 2005 7:36 am) i just went to the dealership and they were telling me that the residual is 58% which i think is BS and they were trying to tell me that normal money factor was 0.0036. so the 60400 sticker was coming out to 1049 a month after 5k down. |
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Replying to: Car_man (Sep 08, 2005 2:19 am) I'm really at a loss to understand the lease figures on a RRS. I've been quoted about $944 inc tax (6%) for a 30 month lease, 0 down, 12K miles based on an adjusted cap cost of $57700 plus acq fees etc of $595 (=$58295). LRFC MF is 00.355 (quite high). Upfront is just the first month plus $15-00 fee. What I don't undertsand is why the lease is generally this high given that the residual is $42210. This means depreciation is about $16,000 of the adjusted cap cost. Add to that sales tax of $3498 ($58295 x 6%) = $19,500. The difference between this figure and the total cost to me of the lease (30 x $944 = $28320) is the finance charge - ie $8820 ! How can the finance charge be $8820 when I'm in effect financing about $20,000 ??? Even at a compounded rate of 8.5% per annum for the 30 months should mean that the finance element should be about $4000. Therefore, it seems that i'm being 'overcharged' by about $5000 !!! As I see it, the lease on a RRS shouldn't be more than about $800 per month (unless my figures are drastically wrong somewhere)......?
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Replying to: mssurrey (Nov 16, 2005 6:45 pm) Actually.. to put a finer point on it.. you are financing the average of $58,295 and $42,210 (which is the value of the car when the lease is finished). So, your average "balance" over the life of the lease is approximately $50,250.. Multiply that by 8.52%, then again by 2.5 years... I think you'll see where it is going .. The finance charge is actually much greater than $8800.. I think you've overstated your sales tax... The finance charges are over $10K... regards, kyfdx Host-Prices Paid Forums
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