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Discussion Starter #1
The lease for my 07 RRS Supercharged is coming to an end this August. I am trying to figure out what would be the best route to take and would like to hear some opinions on a buying it out or just leasing another sport.

Details:
My car is in great condition. Has yet to have a problem, low miles (32,000) - My lease allows 45,000 miles.
Buyout aprox $38,000.
* prior to lease end I will have to get new tires and replace a rock chip in my windshield

I really like my current car and "if" I did buy it out I would probably keep it for another 2 years.

If I was to turn in my lease I would be interested in leasing a 2010 RRS LUX HSE (no supercharger this time).

Are there any benefits, negative factors, ect that you have know of or encountered during a similar situation? Please share.

Thank you!
 

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2010-2012 Range Rover MkIII / L322
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If you're set on leasing then get a 2010. I myself would negotiate down to 35k or lower to buy yours out right and then flat out own it.
Then in MY2012 see what's happening with RRSs. I have a feeling that the issues with MY2010s won't be addressed by MY2011.
I wanted to update to a MY2010 and then figured that TATA hasn't quite understood what "premium" means yet, on the brighter side, they want to be here to stay, it's India, they're bright and want to make an impact into the popular culture almost as bad as the Koreans want to redefine quality/value. .

Sorry, there I go again speaking my mind instead of letting you lease that sick MY2010 with the sweet-ass interior.
 

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Discussion Starter #3
My lease is under USBANK - I thought that the residual/buyout was non-negotiable?..

You did bring out a good point: I'm assuming by Aug I could get a decent lease deal on a 2010, BUT I am a bit concerned over first year models.
 

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2010-2012 Range Rover MkIII / L322
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You can still negotiate with USBANK. The last thing they may want is your RRS back.

Last 2 cars I've leased, I've called the bank (USBANK was my last one) and pretty much made my offer, usually between 7-10% below pay-off (the car was worth as per NADA around the same as pay-off amount), their original response was to deny my offer so I asked to speak to the manager, manager called me back and took the deal.

She did explain to me that they had very little incentive to sell me the car, since it was already pre-sold to a wholesaler and that the price difference was covered by some sort of insurance they had. I don't know if that's true or not.

Now, RRSs depreciate so much and fast that even with a 10% discount you may still be paying above Fair Market Value; so find out what your car is really worth and take that number minus 10% to the bank see what they say.

The manager I spoke to was based in Texas, I was uber-nice to her and she was cool, I did get the feeling that she had some authority and a bit of room to move, definitely not a tele-marketer just reading a computer screen. Come to think of it, she was the same person signing the letter that I received regarding end of lease options.

Good luck
 

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rafa said:
You can still negotiate with USBANK. The last thing they may want is your RRS back.

Last 2 cars I've leased, I've called the bank (USBANK was my last one) and pretty much made my offer, usually between 7-10% below pay-off (the car was worth as per NADA around the same as pay-off amount), their original response was to deny my offer so I asked to speak to the manager, manager called me back and took the deal.

She did explain to me that they had very little incentive to sell me the car, since it was already pre-sold to a wholesaler and that the price difference was covered by some sort of insurance they had. I don't know if that's true or not.

Now, RRSs depreciate so much and fast that even with a 10% discount you may still be paying above Fair Market Value; so find out what your car is really worth and take that number minus 10% to the bank see what they say.

The manager I spoke to was based in Texas, I was uber-nice to her and she was cool, I did get the feeling that she had some authority and a bit of room to move, definitely not a tele-marketer just reading a computer screen. Come to think of it, she was the same person signing the letter that I received regarding end of lease options.

Good luck
The fact that they have some kind of "insurance" to get paid the original residual amount really sucks. I have a 2007 RRS S/C, my lease with US Bank expires in 3 months and my lease end buyout is around $40K. I was looking at Ebay motors a couple of months back and saw a couple of vehicles similar to mine (options, mileage, etc) for around $31-$35K. I was thinking of buying out the RRS and making it a "family" vehicle. My hope was to give US Bank a call and try to negotiate with them knowing that they dont have any leverage (i.e. they would never be able to sell my RRS for $40K). Now I am screwed. But I'll try calling them and negotiating anyway - lets see what happens.
 

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Just found this thread.

My 2006 RRS lease is up in 2 months. $25k residual with 38k miles on it. My mileage limit was 48k so I'm well under.

I'm trying to decide if I should dump it at the dealership and lease a 2011

OR, should I pay the residual... resell it for more than the residual, pocket the difference and then go lease a 2011

OR, should I just pay the residual and hang on to it for a few more years.

Decisions.. decisions..
 

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JC.

Go for it, since my numbers equate to USD$37000 for your ride ! Ask your local LR dealer for the quote on an extended warranty if this is missing on your RRSSC ?

Better to stick with what you have that's reliable & enjoyable so far, with the added piece of mind of an extended warranty to keep the Misses happy as well dude.

Cheerio,


Vinniman
'88 Highline
Perth, W.A.
 

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Has anyone had any experience negotiating the lease buy out price with LR Capital? The lease is up on my 2008 HSE and it seems to me at least that the buy out price ($43K) is a bit high.
 

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wow 34k for buyout on 2007 RRS supercharged ?

they gave me a trade in value of about that for my 2007 HSE with 30k miles 2 months ago
 

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I am getting nowhere trying to negotiate the lease buyout on my 08 HSE. The dealer here is listing used 2008 HSEs for nearly $50K. That seems utterly insane to me. With a $3K returning LR incentive (and $5/gallon gasoline), I paid $55K for my HSE/Lux in June 2008. Are people really paying 85% of the purchase price for a 2 year old vehicle?
 

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I just purchased an off lease MY08 with 20K miles and LUX for 39.5, I did see some listings at other LR dealers that were **** close to 50K for similar vehicles. I found during my search that each dealer was wildy different in thier pricing.

Just my 2cents worth if that helps you make a decision to buy out or not
 

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nyc_sport said:
I am getting nowhere trying to negotiate the lease buyout on my 08 HSE.
An interesting thing sometimes happens when you want to do a lease buyout since finance companies often buy insurance to guarantee the original residual. Since the lessor has insurance they don't compute the buyout off a markup on current wholesale pricing.

I know someone who wanted to buyout a 2007 745i 6 months ago and BMW Finance gave him a ridiculous price and wouldn't negotiate one bit---I think because residuals were still pretty high in 2007-08. He didn't buy it out, and lo and behold, the car ended up CPO'd on the dealership lot at a discount to the buyout price he was quoted.

Also, conspiring against you...the used car market is still going strong.
 

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Thanks for the feedback. I eventually got to the sales manager at my dealership and he told me this morning that the "national average" current auction price for a 2008 HSE with under 25K miles is $45,250. If that is true, the 2008 RRS HSE might have the best resale value anywhere.
 
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