Should I walk from this deal? HSE Luxury Demo with 9120 miles, and tons of features (see below)
It took me a while to negotiate the sale price, but the money factor is still really high (wouldn’t budge) and the down payment is high.
MSRP: $64,424
Discounts: $11,0523
Sale Price: $53,371
Residual 45%
Lease end value $28,828.75
Term 39 months
MF .001 (~2.5%)
Tax $898.60
Upfront fee $857.40
Monthly payment $519.40 (after tax)
Amt due at start $10,000
I think you can get it for less. Jaguar/Range Rover is always having Executive Driven Cars, another word for a nice used car. I got a Fully loaded $90k Jaguar w the executive driven program, the Car had only 3k miles on it, so I put $0 down, leased it for $801 a month compare to almost $1100 a month, and I got a pretty good deal. If I had known that they do these “Executive Driven Car” program, I would have hit them A lot harder, but live and learn. I think you’re getting an o.k. Deal.
that 10k upfront translates into $250ish extra per month if you rolled it in so your effective payment is close to $800/mo.
So I’d say it’s a no
According to Edmunds, your missing about two 0’s on that money factor. MF should be .00001. Not sure how much the 9k miles will affect the residual.
for comparison
yes, I told them the money factor was two orders of magnitude off. The response I received was that it was fixed by the leasing company. I pressed them on it, but got nowhere… I also pointed out the residual was low…
awesome thanks. Seems like I need to go back and press harder. They want me to come in and sign the lease agreement today. I guess I’ll end up ruffling some feathers
thanks, “ok” described my feelings walking out of the dealership. I haven’t signed any lease agreement yet, so thinking about if I can negotiate a bit more or just have to walk away
Thanks! The 10k includes all the dealer fees, taxes, first payment…not saying that it helps in the slightest…
that’s outrageous, you should never put that much money upfront unless it’s MSDs, if you crash your car tomorrow = $10k gone
of course they do, don’t let anybody pressure you.
You should be running from this dealer. 10k down? Lying to you about the MF being set by the lease company (the marked up one)? Doing the whole “come on in and we’ll talk about” request?
I’d be breaking Olympian records trying to run from this place…
They can’t mess with the residual - that is truly set by the bank, and may be adjusted for the miles already on the car (not sure if/how Land Rover adjusts residuals for demo cars). While I wasn’t shopping for Land Rovers, I found that the dealerships more willing to negotiate were outside of the greater Seattle region. Kind of limited since we only have 3 JLR dealerships in the area, but I’d cast a wider net. Keep in mind that WA seems to be pretty awful for lease deals as a whole.
Any dealer trying to get you to put 10k down on a lease…id walk from.
Well, I made the point to negotiate close to closing because I knew we wouldn’t be rushed to fill out the lease agreement paperwork. (Tried to get me to sign the dealer “quoted” numbers). I’ll see if I can negotiate some more and let you guys know how it ends up!.
I’m aiming for $500/month $0K down, and only pay the drive-off fees. Will see …
Thanks all for your help!
not realistic
Yes, I wouldn’t put a Penny down, and then You Tell Them, What You’re willing to do to “Help THEM OUT.” They’re the one’s sitting with a Used Car on their lot that has already depreciated in value, so if I were You, I’d walk All over them. Not too many people, especially at this time of the year looking to take on a USED CAR at that price. What’s the worst that can happen? They tell You NO… Try them, and don’t flinch, make your offer, Exactly the way You want it, then Don’t say a word, the first one who talks is going to be the loser. I’ve sat for 10 minutes in my chair, in a relaxed position (a receiving position), & have Never, Ever had a Car Dealer Refuse My terms. I get them so goofy that this last time, about in March, when I got my wife’s new car, that I kept asking them, “So, what’s the money factor?” It was so comical, that I swear, There were 2 guys who were sitting a desk away from me, they had brought in an ad from one of the car sites, The Sales Manager, who I just walked up & down his back, ripped up their piece of paper with the special offer. After I secured my wife’s Entire deal, I went to go to get my stuff out of her car that she was turning in, as the lease was up, and the 2 guys approached me, and so help me, they asked me if I could do their deal for them. It was already about 8:30p, I wanted to help, but I was exhausted, My wife as well, so I had to say No. I Really wanted to help them, especially being a Sales Trainer, but I was past the point of exhausted. So, I’m telling You, Push, and then push some more, and when you think you’ve pushed enough, push some more. Write on a piece of paper How you want the deal structured, Don’t put a cent down, just inceptions, and Don’t say Anything. Even if it is a dead silence of 15 mins still sit back, relaxed in your RECEIVING Mode, as if you couldn’t care less, I promise you, they WILL Break. Especially being so close to the end of the month, they want that car on the board, even if you were really good enough to take them into their “Holdback Money”, as that car may mean the difference between a month ends bonus or not.
was it their idea to put the 10k down?
I test drove a Discovery Sport HSE last month and did some calculations. I think there was $4k in incentives, so with 10% dealer discount and base MF the payment was in the $500’s p/m. The dealer is not going to discount this loaner enough to justify going for this, basically you need them to take more than $10k off.
More than 10k to swallow is a huge pill regardless of car and market, just don’t see it happening.
I just don’t get this obsession with paying more for a car like this. What exactly is it about Land Rover that gets people so hard? The fantasy of its “off-road” capability?
I’d rather have the Defender.
