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Land Rover Range Rover Sport Lease Questions

371 messages,  Last post on Oct 31, 2009 at 8:46 AM

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What is this discussion about? Land Rover Range Rover Sport, Car Leasing, SUV


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#203 of 371
Hello Carman, '08 Range Rover Sport Residual and MF by kerb
Nov 13, 2007 (6:08 pm)
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Carman, would be so kind as to provide me with the residual and MF on the above referenced vehicle for 24, 30 and 36 months with 10.5 and 12K miles. Additionally, are you able to confirm that the acquisition fee is $595 and if there is an additional $700 in advertising fees, etc. on each vehicle. Furthermore, are there any incentives in terms of certificates from Land Rover (similar to the $1500 certificates for the '07) models or marketing support. Finally, when do these residual and MF figures change?
  
Many Thanks,
  
Steve
#204 of 371
Re: 08 RR Sport HSE - Current Money Factor [cstaten] by Car_man HOST
Nov 26, 2007 (3:35 am)
Reply

Replying to: cstaten (Nov 11, 2007 4:57 pm)

Hi cstaten. You may want to find a different dealer to work with. The money factor that you were quoted is definitely too high. Land Rover Capital Group's current buy rate lease money factor and residual value for a 30 month lease of a 2008 Land Rover Range Rover Sport HSE with the Luxury Package with 15,000 miles per year are .00263 and 62%, respectively.
 
Car_man
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#205 of 371
Re: Hello Carman, '08 Range Rover Sport Residual and MF [kerb] by Car_man HOST
Nov 26, 2007 (3:43 am)
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Replying to: kerb (Nov 13, 2007 6:08 pm)

Here you go, Steve. According to the latest information that I have seen, through the end of the year Land Rover Capital Group's buy rate lease money factor and residual value for a 24 month lease of a 2008 Range Rover Sport HSE with 12,000 miles per year are .00247 and 69%, respectively. The numbers for an otherwise identical 30 month lease are .00261 and 65%. The numbers for an otherwise identical 36 month lease are .00291 and 55%. The residuals for leases with only 10,500 miles per year would be 1% higher. Land Rover Capital definitely charges a $595 acquisition fee on every vehicle that it leases, but I'm not familiar with the advertising charges that Land Rover tries to pass on to its dealers. Land Rover is not currently providing any cash incentives on this model.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#206 of 371
2008 Range Rover Sport Lease Quote by jsd39
Nov 27, 2007 (6:44 pm)
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Hi, I'm new to leasing and a very poor mathematician, and am curious what you think of the following quote for a 2008 Range Rover Sport with luxury package and satellite radio, 24 month lease with 12,000 miles per year: $10,000 total due at signing, $823 per month. This is apparently a residual of 68% and a lease rate of .00285, with a $1,500 discount off of list price. I'm told that these payments include both sales tax (6%) and property tax (which seems somewhat unique to Land Rover). I know that putting this much down on a lease isn't recommended, but it gets my monthly payments into my comfort zone. Is this a good deal, or if not, what should I expect my monthly payments to be with a $10,000 down payment? Thanks a lot!
#207 of 371
Re: 2008 Range Rover Sport Lease Quote [jsd39] by roverboy
Nov 28, 2007 (11:58 am)
Reply

Replying to: jsd39 (Nov 27, 2007 6:44 pm)

Dude, this is NOT a good deal at all. First of all, do not put that much money down. Just don't do it. It's not smart. I know you want to get your "comfort level" payments per month, but that's irrational and frankly idiotic. Hate to be blunt, but it's just honesty. You should look to pay around $1000 per month, with NOTHING down for that car. Period. If you divide your 10k down payment by the term of the lease (let's say 36 month), that's $277.00 per month that you are paying in your down payment. So if they are saying your monthly is $823, you have to incorporate the $277 and so you are really paying around $1100 per month, which is way too high.
 
also, there is no property tax. that is a total scam. never even heard that one before.
 
take a look at swapalease.com. you should be able to get your payments down to under $1000 or near it (this includes tax) without paying any down except for title and registration, and destination fee.
#208 of 371
Re: 2008 Range Rover Sport Lease Quote [roverboy] by british_rover
Nov 28, 2007 (12:10 pm)
Reply

Replying to: roverboy (Nov 28, 2007 11:58 am)

The only thing right in your whole post is that you shouldn't put that much down on a lease.
 
Everything else is wrong.
 
All Land Rover leases through Land Rover Capital Group include property tax. It is not a Scam, it is not wrong, it is not the dealer trying to screw you out of 60-100 bucks a month it is how the lease is structured and it is a better way to do it. You will not get under 1,000 dollars a month for a Lux interior range Rover sport with nothing down. I just ran that lease using the numbers he provided and with $1,600 out of pocket he is just over 1,200 dollars a month including property and sales tax.
 
In order to get under 1,000 dollars a month with nothing down on a 24 month 12,000 miles a year lease on that Sport they dealer would have to sell it for a 1,000 dollar loss which they aren't going to do. What he should do is increase the term to 30 months which will put him under 1,150 a month if you keep everything else the same.
 
Come in on a 30 month 12k a year lease and about 5,000 in cash to get you at around 1,000 dollars a month.
#209 of 371
Re: 2008 Range Rover Sport Lease Quote [british_rover] by jsd39
Nov 28, 2007 (4:17 pm)
Reply

Replying to: british_rover (Nov 28, 2007 12:10 pm)

Okay, thanks. Other than the fact that no one likes the idea of me putting $10k down, using my numbers, does the $823 sound about right if I was to pay that much up front on a 24 month lease? I'd like to use this as a basis for knowing if I'm getting screwed or not, so I'll know how to deal with the dealer. Having said that, perhaps your suggestion of $5k down, $1k per month for 30 months, makes good sense -- except for the fact that I'm not sure if I'll want to keep the car that long. Thanks again!
#210 of 371
B Rover: 07 Incentives and Diesel ?'s by ctdubl07
Nov 29, 2007 (11:58 am)
Reply
BR - assuming their are fair lease programs on RRS '07's available, could the combination of the $4k marketing support (shown here on E.com) plus the $1.5k coupon position one for a more attractive lease deal than on an '08?
 
Second - any updates as to US diesel availability any time soon?
 
thanks
#211 of 371
Re: 2008 Range Rover Sport Lease Quote [jsd39] by roverboy
Nov 29, 2007 (3:39 pm)
Reply

Replying to: jsd39 (Nov 28, 2007 4:17 pm)

I agree that you should put 5k down and extend the lease for a year. the sweet spots are usually around 30-36 month leases. But the thing that people get screwed on is that they don't treat their down payment as part of their monthly payments. and they don't factor in tax. You have to realize that a down payment is essentially amortized over the life of the lease, plus you lose interest on that 5k that you would get if you invested it for 3 years instead. that's why you should try to make smaller down payments even if the monthly price goes up. does the $823 include tax?
 
and take a look at swapalease. they are ads from DEALERS, and then you call the dealer. it's better than any deal you'll get.
#212 of 371
Re: 2008 Range Rover Sport Lease Quote [roverboy] by jsd39
Nov 29, 2007 (4:39 pm)
Reply

Replying to: roverboy (Nov 29, 2007 3:39 pm)

Yes, the $823 includes both sales and property tax. I checked on swapalease and called one dealer, and its deal was actually very close to this one if you add in the property tax.

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