Questions about leasing versus financing a Range Rover

Youre getting better deal than me on lease. I have 10k miles/yr and almost 1200/month but my car is totally loaded in (needless) options. I dont believe they will have much value as 3 or 4 yr old cars so trying to resell is risky

 

If the residuals hold true, then yes, you would be way ahead if you financed with the terms that you stated. But, and this is a big but, they are not always correct in the estimation of what the value will be 3 years from now. They do not know the demand at that time.

When I had my 3rd kid I leased a minivan for 3 years because my wife made me get the damn thing and I wanted to make sure we only kept it for 3 years. The residual on the $33,000 POS was $17,900 after 3 years/36000 miles. Two months before the lease ended I got a Mercedes GL350 and turned in the minivan to the MB dealer. They gave me 22,500 on trade in with absolutely no negotiation. I was so freakin happy that I did not even try to get more. The Kelley Blue Book trade in value was 22,300. The best part is that they paid the minivan off for me so I did not even have to deal with it.

My point is that at that time there was a demand for minivans for whatever reason so I made out. I applied the excess money as the downpayment and the payment on the GL was a joke.

Also, some people have a misconception that you cannot get out of a lease early. There is a payoff price that you can use at any time to buy the car. My second lease ever was a 2011 Carrera S. I leased it for 3 years and sold it privately after 1.5 years. The buyout price at the time was 79000ish and I sold it for 83,200. I got a little back so that made me happy.

The main point is that when you lease a car the residual is set by the manufacturer and cannot be negotiated. If towards the end of your lease the car is worth more than the residual you can use that as a bargaining tool for your next car. If it is worth less or the same as the residual then just hand them the keys and walk away.

I used to be against leasing but I have been converted. You know the old, "if you need to lease you cannot afford it" BS. Just like the ," if you can't pay cash then don't get a Ferrari" rant that some people have.

that is a very good deal so I would do it. Range Rovers historically have not held value but the new ones have such a high demand that might change.

 

Ive had it year and half and 12k miles. No issues other than air pump replaced once. I like it especially unique looks in red with black roof and wheels. Its very nice if you like a truck. 21mpg combined overall is pleasant surprise. Wish it could drive in lowered mode though. And sunroof doesnt close all the way with 1 push button so can leave it vented unintentionally
searh British section for rrs threads. Good luck

 

I bought a 2016 RRS V8 Autobiography(dealer tried to tell me they are so hard to get they do not discount off sticker, I told them the only cars I ever paid sticker for had a prancing horse on and this one does not) in the beginning of last month, my 3rd RR first sport version. It took some negotiating to get the price I wanted. I do not lease cars (one reason is that I change them too often), and I only use the SUV from November to April (my last RR had only 30K miles in 6 years). I would not rely on the 50k number as what the car is going to be worth three years from now. New SUV's are coming that may effect how in demand these cars and as well as what may happen to gas prices three years from now, so if you like the lease deal I'd say go for it. I cannot tell you much about the car (it only had around 600 miles when it was put away), but I was impressed with it for the little time I spent driving it.

 

One other thing. Came with summer only tires which were non functioning in winter. Dealer swapped them out for all seasons no charge. Be sure to specify

 

range rover out of warranty = fun

i'd lease

 

Be sure to check the "return" specs if you turn in the car. Criteria often includes a requirement of so many 32nds remaining tire wear or you are responsible for new tires; dings over a certain diameter; bumper scrapes, etc. Best not to lease a car for longer than the factory warranty. Stuff will happen over the next 3 years.

 

Just a few days ago you said you just bought one. What gives?

https://www.ferrarichat.com/forum/british/519391-just-bought-range-rover-sport.html

 

my general rule of thumb is if total lease costs are less than 50% of sticker price you have a decent lease deal. if its basically going to cost you 36K to drive the car for 3 yrs I wld lease it.

 

Trail rated?

 

I've owned dozens of these Range Rovers (Sports for me and full size for the family) over the decades and think they're great machines. I would never switch to another manufacturer - others really don't compare considering the whole package - nothing is like a Range Rover and we upgrade regularly.

Keep them under warranty. Forgiving the first $1K is funny stuff! It is a complicated machine with lots of creature comforts. Things break and parts aren't as plentiful like the big three or Asian manufacturers.