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Quick Question, would you ever lease a used Range rover Sport? even if it comes with all maintenance included?
Leasing a Used Range rover Sport
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No and no. I don’t think LR dealership (chase) allow leases on used. If they do, it’ll be an unaffiliated bank/brokers.
Maintenance is not included even on new...
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Maintenance is not included even on new...
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Totally get what you mean. i found a range rover sport used (certified pre owned). A 2 year maintenance is included in it. it is currently up for sale/lease. i'm not sure if i should go with it since it has what i'm looking for. it's a 3 year old range rover.
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John, I negotiated maintenance on my 2017 L405 lease.
4 oil changes, 4 tyre rotations, and brake fluid replacement once..
-I'm not quite sure why you would lease a used vehicle.. Leases are great being that you have a full bumper-bumper warranty within the period, and a new truck.
Talk to your dealer about a lease for your desired truck....
4 oil changes, 4 tyre rotations, and brake fluid replacement once..
-I'm not quite sure why you would lease a used vehicle.. Leases are great being that you have a full bumper-bumper warranty within the period, and a new truck.
Talk to your dealer about a lease for your desired truck....
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You can negotiate anything into your payment. What I meant is that LR isn’t like BMW with the free maintenance. The chances of a car having it is pretty slim.
Leasing is usually much better off with newer vehicles. They can subsidize the MF and the residual. Used lease rarely make sense.
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what makes leasing a used vehicle so bad? it's not a new vehicle but it's well taken care of. this is my first range rover and would like to test out a used one for some time before moving on to a newer model.
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There we go! I'm very sure i read that a 2 year maintenance was included in the vehicle. i don't really see a need to lease a new range rover at this time in my life, also this being a used car makes sense because i currently live in nebraska for school and almost ever call here is pretty old so 3 year old car isn't that bad.
I'll definitely talk to them about the bumper to bumper warranty since i don't that's included (or atleast i didn't see it) Is there anything else i should consider when leasing a used range rover?
First off, if you would like folks honest opinion, post up a link to the vehicle/deal in question here. In your first post you said it was CPO which means it would be covered under warranty, however, later you reveal you are not sure and that it is 3yr old. Buying a 3yr old car is fine if you know what you are doing but a used lease is not a good idea especially if out of warranty. FWIW 2 years of maintenance without a CPO is not worth it - its like 2-3 oil changes, a brake flush and tire rotation. Assuming tire rotation is free, this is like max $500 worth of work (unless you go to the dealer).
Honestly, I am not one to judge but if you are still in school I would avoid this vehicle in general unless you can actually comfortably afford it - not worth the stress of dealing with repair bills that impinge on your quality of life. Operating one of these out of warranty requires a lot of $ and if you are leasing you'll be stuck in a very tough position. If you have the resources, lease a new one or buy a used one.
This may not apply, but get rid of any debt, start an IRA and save for a down payment on a house before getting a high-end car! There are tons of cool cars out there for cheap. I know this is the most boring thing ever posted, but financial stability and peace of mind will make you way happier and let you enjoy a car like this more thoroughly.
Honestly, I am not one to judge but if you are still in school I would avoid this vehicle in general unless you can actually comfortably afford it - not worth the stress of dealing with repair bills that impinge on your quality of life. Operating one of these out of warranty requires a lot of $ and if you are leasing you'll be stuck in a very tough position. If you have the resources, lease a new one or buy a used one.
This may not apply, but get rid of any debt, start an IRA and save for a down payment on a house before getting a high-end car! There are tons of cool cars out there for cheap. I know this is the most boring thing ever posted, but financial stability and peace of mind will make you way happier and let you enjoy a car like this more thoroughly.
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Of course i want honest opinions. This is the VIN to vehicle i am talking about SALWG2VF7FA609578. I might be wrong but a CPO is a used vehicle which is why i said that. I am not buying a 3 year old car, i'm leasing it because it seems like a good idea to me. the vehicle has a warranty on it and comes with a 2 year maintenance program. What kind of repair bills would you get if you're leasing a car? i have leased several cars before and haven't seen any repair bills for them at all. it's cheap and seems like a good idea that's why i want it.
Contrary to other opinions, yes, I would....and have in the past with no problems. First, many RRs are leased through US Bank which allows taking over a current lease. I don't know any companies that will offer leases on a used car/truck off a dealer lot that won't charge a very high premium to do it. You haven't said what the terms are for your potential deal.....dp, term, monthly payment. How many miles on it?You might get a few more opinions if you identify. Have you checked SwapALease or LeaseTrader? Many RR owners trying to get out of their lease often offering incentives....still under warranty with different number of months left on the lease. But agree......not the vehicle to lease/buy if you have no room left for maintenance issues. Fyi, a 2019 HSE with less than 600 miles on it just swapped for $935/month with 38 months left with zero DP.
Depreciation is the largest cost in motoring. And the most depreciation occurs in year 1. There's been a boom in used car leasing in recent years. I've worked in leasing and my advice is this - if it's new and expensive - lease it. If it's used (caveat is no more than 3 years old) and expensive - lease it. You have far more leverage when leasing if things go wrong and this has never been more so than now with the increase in technology.
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Lease rates (AKA Money Factor) on used cars are usually horrible compared to new. That's the main reason people don't lease used cars.
The other issue is valuation. It's hard to value a used car and determine what the residual value is. It's very subjective. Which is why you almost never end up with a good deal going that route. Otherwise it's no different than a lease on a new car as long as the warranty doesn't expire during the lease term. As others have said, the maintenance is really negligible and used car dealers will find a way to scam you with that sort of thing so I wouldn't even consider that a bonus. The LeaseTrader option is a good one if you're looking to get into an RR with no down payment but I have never tried it so I don't know what's involved.
Bottom line is, if the deal makes financial sense to you, and the warranty stays in tact, then there are really no other variables to consider.
CPO = Certified Pre-Owned. Which basically means they're willing to extend the factory warranty to 100k miles or so. Not every used car is CPO. I wouldn't buy/lease an LR from a Non-LR dealer btw just for this reason. I don't know if in your posts you mentioned whether this is an LR dealer or not but if it isn't I wouldn't go near it because unless the car had an extended Warranty when they got it, it certainly won't have one now.
The other issue is valuation. It's hard to value a used car and determine what the residual value is. It's very subjective. Which is why you almost never end up with a good deal going that route. Otherwise it's no different than a lease on a new car as long as the warranty doesn't expire during the lease term. As others have said, the maintenance is really negligible and used car dealers will find a way to scam you with that sort of thing so I wouldn't even consider that a bonus. The LeaseTrader option is a good one if you're looking to get into an RR with no down payment but I have never tried it so I don't know what's involved.
Bottom line is, if the deal makes financial sense to you, and the warranty stays in tact, then there are really no other variables to consider.
CPO = Certified Pre-Owned. Which basically means they're willing to extend the factory warranty to 100k miles or so. Not every used car is CPO. I wouldn't buy/lease an LR from a Non-LR dealer btw just for this reason. I don't know if in your posts you mentioned whether this is an LR dealer or not but if it isn't I wouldn't go near it because unless the car had an extended Warranty when they got it, it certainly won't have one now.
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At no time has the OP said he is working with a LR dealer. Likewise remember CPO is NOT a LR warranty. All extended warranties are third party warranties. LR ONLY covers the initial factory warranty, nothing else.
If the OP should choose to lease this Sport, he can certainly and extended warranty worked out with the dealer that is willing to lease to him.
If the OP should choose to lease this Sport, he can certainly and extended warranty worked out with the dealer that is willing to lease to him.
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I used to think that too. But my SVR, which I bought used, actually comes with a 100k extended warranty through LR. No other company is involved. I made sure I verified this with my dealer and a second dealer, both of whom looked it up.
This is just all wrong and expresses you have no idea about what a lease k means.
It’s all about the terms of the lease contract. Your “boom” might be other people’s bust. The lease terms on a used vehicle Exponentially gets worse. MF doubles, residual gets destroyed in first year or two, making any used lease terms a financial mistake.
It’s all about the terms of the lease contract. Your “boom” might be other people’s bust. The lease terms on a used vehicle Exponentially gets worse. MF doubles, residual gets destroyed in first year or two, making any used lease terms a financial mistake.
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Thanks for this advice. it made sense because i just got this information from the dealership and he said it was a bad idea to lease a used car because of the reasons you mentioned.
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