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Land Rover Range Rover Sport Lease Questions

377 messages,  Last post on Nov 25, 2009 at 6:34 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#311 of 377
by mlad11
Feb 01, 2009 (10:01 am)
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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?
#312 of 377
Re: 08/09 Lease rates for RRS [Car_man] by roverlooker1
Feb 02, 2009 (12:07 pm)
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Replying to: Car_man (Jan 19, 2009 4:02 am)

Does that MF & residual apply to a RRS supercharged model as well. Thanks
#313 of 377
Re: New RRS Lease Program - Good deal? [rr4mywife] by Car_man HOST
Feb 03, 2009 (3:18 am)
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Replying to: rr4mywife (Jan 26, 2009 12:19 pm)

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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#314 of 377
Re: 2009 RR or RRS Lease Rates [herimorales] by Car_man HOST
Feb 03, 2009 (3:28 am)
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Replying to: herimorales (Jan 28, 2009 5:47 pm)

Hi herimorales. Land Rover is not currently providing any lease support on the 2009 Range Rover. As a result, its lease program for that truck is terrible.
 
On the other hand, its program on the Range Rover Sport is actually not too bad. Its current buy rate lease money factor and residual value for a 24 month lease of an '09 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%.
 
The last time I checked, Land Rover's base acquisition fee was $595. I have not looked recently so I'm not sure if the dealer is trying to mark your fee up or if it has increased. I suspect that it is the former, but I am not 100% certain.
 
Car_man
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#315 of 377
Re: 08/09 Lease rates for RRS [roverlooker1] by Car_man HOST
Feb 03, 2009 (3:33 am)
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Replying to: roverlooker1 (Feb 02, 2009 12:07 pm)

Hi roverlooker1. Land Rover is providing lease support on the Range Rover Sport SuperCharged as well, but its parameters are different. Its current buy rate lease money factor and residual value for a 24 month lease of a 2009 Range Rover Sport SC with 15,000 miles per year are .00023 and 60%, respectively. The numbers for an otherwise identical 36 month lease are .00077 and 50%.
 
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Prices Paid: Buying & Leasing Experiences Forum
#316 of 377
Re: New RRS Lease Program - Good deal? [mlad11] by rr4mywife
Feb 04, 2009 (12:03 pm)
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Replying to: mlad11 (Jan 30, 2009 4:01 pm)

Hi - The dealer is in Long Island - Land Rover of Glen Cove. Hope this helps.
#317 of 377
Manufacturer to Deal incentive question related to lease by Undertak
Feb 07, 2009 (7:41 pm)
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Hi, Car_man,
 
I see from the Range Rover Sport Incentives & Rebates page that Rover is running a lease special on the Sport HSE for $799/mo. I also see that there is a $3000 Manufacturer to Deal incentive, which specifically notes that it cannot be combined with special purchase financing rates through Chase, but it doesn't say anything about the Lease Special. Is this something I can try to talk my dealer into passing along to me as part of my lease negotiations, or do they not get it because I'm doing the Lease Special?
 
I ask because my salesman immediately volunteered to pay the last month of my current lease ($672) and I'm trying to figure out where that money is coming from since their sale price in the lease special is only about $1300 over invoice. I can't imagine they're willing to only make ~$630 on the truck without any haggling.
 
Thoughts?
 
-Undertak
#318 of 377
How bad is this deal? by clm4
Feb 08, 2009 (1:43 pm)
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This deal is for a 2008 Range Rover HSE with Luxury Interior Package. I believe the bank offering this leasing is Chase. It looks like almost everyone in these posts got a much better deal than this with a shorter term, too. I don't get it. I am in NJ. I really only want a 36 month lease. The mileage allowance is 12,000.
 
M.S.R.P. $82,950.00

SELLING PRICE $55,950.00

BANK FEE $795
RESIDUAL % 23
MILEAGE DEDUCTION 0
RESIDUAL AMOUNT $19,078.50
MONEY FACTOR 0.0039
MONEY DOWN $795
TERM 48

TAX RATE 7

PAYMENT W/ TAX $1,148.92

INCEPTION FEES $1,999.57
TAG FEE $399.50
SUPPL. TAX .4% $223.80
 + SEC. DEPOSIT (+$25) $-
TOTAL FEES $2,622.87
#319 of 377
Re: Manufacturer to Deal incentive question related to lease [Undertak] by Car_man HOST
Feb 09, 2009 (3:28 am)
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Replying to: Undertak (Feb 07, 2009 7:41 pm)

Hey Undertak. Unfortunately, the $3,000 dealer cash is not compatible with the special Chase lease program either. Times are the toughest that they have ever been in either of our lifetimes for dealers right now. I'm not all that surprised that the dealer was willing to sell you anything for $630 over invoice.
 
Car_man
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#320 of 377
Re: How bad is this deal? [clm4] by Car_man HOST
Feb 09, 2009 (3:47 am)
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Replying to: clm4 (Feb 08, 2009 1:43 pm)

Hi clm4. This truck's residual value is a shockingly low 23%. Even though you are getting a tremendous discount on it, there's no way that I would lease it if I was in the market for one. You would be much better off taking advantage of Land Rover's special financing offer and financing it at 0% for 5 years.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

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