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2020 RRS HST, good lease deal?

8K views 39 replies 9 participants last post by  bakerl1 
#1 ·
So I am totally new to leasing cars, but I have been in love with Range Rover sports for over a decade. I have a 2013 BMW 335is and now have two kids I need to be able to transport. So I built a 2020 RRS HST on the site, and sent the build to my local dealer down the street. Can someone let me know if im getting hosed on this deal or not?

36 months lease/10k miles
Build cost 91k
Residual value 52,607
MF .00167
10k down, 12k due at signing
IF my trade in is worth the KBB of 15k, my monthly would be $844
Basically im spending 57k total over the 3 years to drive the vehicle. Seems crazy but I would no doubt enjoy this vehicle every day of my life. Thoughts?
 
#2 ·
Nice. I also came from a string of BMWs (including a 335 at one point). Very different experience for sure. I'm enjoying my 2020 HSE so far, but do miss some niceties from BMW (mostly to do w/ electronics). Be sure to spend some time playing around w/ the infotainment before you buy because it drives some people nuts. I love coming out in the morning and seeing it in the garage- such a beauty (which is weird to say about an SUV).

I'd suggest posting this question on leasehackr where you'll get more input, but generally:
-Range Rover Sports are always expensive to lease relative to the competition
-Dealers dont discount much (best case is typically 5% off)
-Dealers often hike up the money factor
-With a lease, its better to put nothing down. Thats cause if the car is every stolen or totalled the "gap insurance" will pay off the difference between what your insurance company pays and your remaining obligation on the lease. Any money you put down, effectively, gets lost in this scenario.

Another resource is edmunds lease forums. Google "2020 range rover sport lease edmunds" and find the appropriate thread. You can get a sense of others lease deals, but more importantly, get the actual base money factor (so atleast you know if the dealer is marking it up). Without knowing all the details, on the face of it, your deal seems normal for an RRS. The HST is more rare than the regular SE and HSEs, so that will be a factor as well. With some more research/work you can probably do a bit better. Again, consider putting nothing down. Also worth test driving an HST and HSE back to back if possible to see if the extras included in the HST package are worth the extra $ to you. The mechanical differences come down to adaptive dampers (very nice) and an extra 40 hp. You also effectively get the "autobiography" interior/exterior treatment.
 
#3 ·
Agree try not to put any money down on a lease. For your trade-in I'd sell the car to Carmax and pocket that and use it to pay off other stuff or invest and not use it to "pay down" your lease.

To give you an idea, my 2016 stickered for $90k. I'm at 51 months ownership and average 17,750 miles a year (~71,000 miles currently). Edmunds appraises my car for $40k trade-in, but I doubt I'd get that much knowing how car dealers operate. If I guess a value of $33,000, that means it's cost me basically the same amount as your lease but with ownership I've been able to drive it for an extra 15 months and 40,000 miles.
 
#4 ·
Great responses both of you. Much appreciated. Never even thought about the down payment issue. Makes the monthly so much lower but yes makes no sense to put anything down. Better of just keeping that cash and having higher monthly rate. Never consider CarMax but wonder if they would offer more than dealership? I am going to go test drive one Saturday. I really hope I don't hate the infotainment system. Ive heard very mixed reviews :/
 
#5 ·
CarMax lowballs in my opinion, even relative to "regular" car dealers. I've had two experiences getting offers from CarMax and both were well below what the car was eventually sold for (to another dealer) in one case or traded in for in the other case. Both cars were in very good condition.
 
#6 ·
Am I reading this correctly that it's $12k due at lease signing plus $15k worth of equity for your trade-in?

If that's the case, $27k up front and $844/month doesn't seem like a good deal. A couple years back I leased a V6 HSE that had an ~$82k MSRP for $5k total due at signing, 12k/year 36mo for ~$820/month including 9% sales tax. I'm sure things have changed a bit since then, but what they're offering you seems too high.
 
#10 ·
Going to the stealership tomorrow. I posted on Edmunds forum and found out the base MF is .0018. Im gonna try to get them to lower the sale price more, and give me the base MF or close to it. If they cant ill just walk. I in no way need this car and realize its basically a money pit.
 
#13 ·
Just left dealer. Haggled with them for a bit. They have almost the exact model I want there minus the driver assist package. Its MSRP is 87,914. They offered 15k on my 335is which is about or a little above KBB. Final offer they gave was $820 a month. They started at 932 lol. Thats 10k miles a year. I think the back math puts that at a MF of .00167. Would only pay 2528 at signing. So no cash down payment. Thoughts?
 
#17 ·
This is a significantly better deal. No $10k down payment and a monthly that's $112/month cheaper is $14k better than the first deal. It's such a significant difference that I'd personally call them out on trying to completely rip you off with the first offer and tell them they need to do even better.
 
#16 ·
Yeah..2.3% interest is GREAT for a Sport.

You don't ever want down payment on a lease, if the vehicle is totaled you do not get any of the money you put down.

Say, $10k down + $2528 of fees, someone totals the car in a day, you get the $2528 but not the $10k

Generally, through Chase, Velar, Disco 5, Disco Sport is a MF equivalent of 1.5-2%, while the Range Rover and Range Rover Sport generally has a MF equivalent of 6-8% interest.

You must have **** good credit.

$1k off is fairly good for Rover. If you want, you can buy the lowest price Rover you can find in your area (say, scrap money $500 beater) for an extra $1000 Land Rover loyalty.

Dealer will give it to you no issue, it comes as an incentive against the price of the car. I think it was incentive, it's been a while.
 
#20 ·
Yeah..2.3% interest is GREAT for a Sport.

You don't ever want down payment on a lease, if the vehicle is totaled you do not get any of the money you put down.

Say, $10k down + $2528 of fees, someone totals the car in a day, you get the $2528 but not the $10k

Generally, through Chase, Velar, Disco 5, Disco Sport is a MF equivalent of 1.5-2%, while the Range Rover and Range Rover Sport generally has a MF equivalent of 6-8% interest.

You must have **** good credit.

$1k off is fairly good for Rover. If you want, you can buy the lowest price Rover you can find in your area (say, scrap money $500 beater) for an extra $1000 Land Rover loyalty.

Dealer will give it to you no issue, it comes as an incentive against the price of the car. I think it was incentive, it's been a while.
Yes 800+ credit score helps :)
 
#27 ·
1 minute

Unless it’s in a poor cellular area in which it’s whenever it feels like it.

I don’t like it. Not a good system.

X3M Comp 3 presses on the lock key will start the car.


Sent from my iPhone using Tapatalk Pro
 
#36 ·
Just got this email. Anyone have experience with these? Im leaning towards just getting the wheel and tire package

My name is** and I am the Business Manager here at Land Rover . I wanted to quickly introduce myself because I will be the person who will be getting your paperwork in order for your delivery of the 2020 Land Rover Range Rover Sport. The other reason for my email is to go over the great optional benefits that we offer all of our Range Rover Sport customers, especially the ones that are the most beneficial to help protect you and your Land Rover Range Rover Sport. We can discuss all the options that are available, but I will quickly touch on the ones that most of our Range Rover Sport customers like to have to protect themselves and the vehicle.

First, is our Wheel and Tire Coverage plus Dent Protection (Plus 6 Upgrade) for 3 years or unlimited miles. The Wheel and Tires Protection is the event you have to replace a tire due to a Road Hazard (nail in the tires, hit a Pot Hole, etc.) it covers the cost of replacing your tires. If you hit something hard enough, not only does it replace your tires by also covers your wheels that are damage (bent wheel or crack) when it cannot hold air. We offer our customers the benefit of Unlimited Paint-Less Dent Repairs or the Next 3 years (unlimited miles), when you get a door ding, dent or crease that is the size of a credit card or smaller you can have the Paint-Less Dents removed and has an unlimited claims coverage, plus they will cover Cosmetic Alloy Wheel repairs (chips and scratches from curbs, etc.). This option helps keeping your vehicle looking great and will help hold the resale value. Then also on Top of that they will cover the cost of two lost Keys and Windshield coverage! ($1392)

Second, is our Appearance Protection. This is by far our best Product that our customers want on their vehicle. This is a Paint Protection for your vehicle which will protect it from the Environment such has Hard Water, Acid Rain, Bird Droppings that damage the paint on the vehicle. This also gives it that new car shine to your Range Rover Sport , plus we apply it to the wheels for the Brake Dust. So when you wash the vehicle, the Brake Dust will also wash away now. We then put an oil on the Leather Interior to protect it from Fading, Cracking and Stains on the all beautiful Leather Seats for the vehicle. In addition we then apply it to the carpet to protect the carpet from can stains (coffee, soda, juices, etc.). This Appearance Protection keeps your vehicle looking new and make the Paint Last Longer with a 5 year warranty. ($685)

Also something new, Land Rover offers the Prepaid Scheduled Maintenance Plan, this plan is provided by Land Rover North America, LLC so that your Land Rover continues to run at peak performance. This Plan will be for 3 years and will cover replacement of Engine Oil & Filter (3), replacement of the Pollen Filter (3), replacement of Brake Fluid (1), replacement of Front Brake Pads & Front Rotors (1), Front Brake Wear Sensor(1), Rear Brake Pads & Rear Rotors (1), Rear Brake Wear Sensor (1), and Wiper Blades (3) for your Range Rover. This helps lock in today’s cost of the prepaid scheduled maintenance services that is required for your vehicle for $4,100.00 (or you can just do the Oil & Filter without the Brake Pads and Rotors for $1,450.00)

If you have any questions, please feel free to contact us here at the Dealership. Just let us know what you would like to do and we will have all the paperwork ready to go for the delivery.

Thank You for your Business!
 
#38 ·
Hmm- The cost of that wheel/tire protection could probably pay for 2 new wheels + tires so might not be worth it. Appearnce protection sounds like classic dealer bs. If you want paint protection film find somenoe who specializes it in and get it installed by them. Prepaid maintenance might be worth it- talk to your service advisor and see if you can find out how much they charge out of pocket. For just oil+filter, $1450 sounds steep. Worst case i've read is dealers charging $500 for that. Even if your dealer does, worst case, it would end up being the same price as what they're charging for the pre-paid. Given that LR doesnt let you residualize the cost of prepaid maintenance in the lease (like Audi does), its prboably not worth doing.
 
#39 ·
Thanks Rich great points. I got the dealer to agree to go down to $1100 for the wheel tire and paint protection. I think those HST 22" rims are almost a grand each, and the tire are around $800. So the fact that might wife might drive this thing on occasion pushed me into considering it strongly. The maintenance I agree is silly. As far as paint protection, Ive got a bottle of black diamond ceramic coating ready to apply to this thing the day I get it :)
 
#40 · (Edited)
In fact, this is just an awesome program and it is definitely useful for those who are engaged in finances or those who simply took a loan. Recently, I thought about taking a loan, but changed my mind in time because my neighbor had serious problems while repaying the loan. To be more precise, but he calculated on a loan calculator that he had to pay more than 550 bucks a month, and the bank calculated differently and now, in addition to the main 13,000 dollars, he also owes the bank about 1,500 dollars. It's just awful and inhuman. He found this bank thanks to a review at https://credit-10.com/no/smalan/ and he hoped that it is a reliable bank, but they deceived it at the first opportunity!
 
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