Last post on Dec 02, 2013 at 12:05 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Land Rover Range Rover Sport, Car Leasing, SUV
#206 of 566 2008 Range Rover Sport Lease Quote
Nov 27, 2007 (6:44 pm)
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 566 Re: 2008 Range Rover Sport Lease Quote [jsd39]
Nov 28, 2007 (11:58 am)
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 566 Re: 2008 Range Rover Sport Lease Quote [roverboy]
Nov 28, 2007 (12:10 pm)
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 566 Re: 2008 Range Rover Sport Lease Quote [british_rover]
Nov 28, 2007 (4:17 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 566 B Rover: 07 Incentives and Diesel ?'s
Nov 29, 2007 (11:58 am)
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?
#211 of 566 Re: 2008 Range Rover Sport Lease Quote [jsd39]
Nov 29, 2007 (3:39 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 566 Re: 2008 Range Rover Sport Lease Quote [roverboy]
Nov 29, 2007 (4:39 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.
#213 of 566 lease vs purchase
Dec 01, 2007 (6:30 pm)
I'm in the market to either buy a 2008 range rover sport or lease. i'm confused to which makes more finacial sense. these dealers do not seem to want to make any kind of deals on these cars. what price would be a good deal on a 2008 standard sport or would a 2008 lux be a better choice. buy or lease? this car really comes without any extras. racks, tow hitch...etc. what to do to get a good deal. would it be benefical for me to get a 2007 if i could find one?
#214 of 566 Is this a good deal
Dec 08, 2007 (3:24 pm)
I was offered RRS w/ lux and rear entertainment (MSRP 64,400) for 3.5k off. I have the coupon that i got in email a few days ago for another 1.5k off. should i go for it or look around a bit more? thanks
#215 of 566 Re: Hello Carman, '08 Range Rover Sport Residual and MF [Car_man]
Dec 11, 2007 (2:55 pm)
Could you please share any residuals and money factors for 2008 RRS 36mo & 48mo with 15,000 mi/yr with Land Rover financial and US Bank if possible.
Thanks a lot!