Appreciate any feedback on this. Given that Land Rover historically doesn’t discount much, I think it is a decent deal. Got $5,000 off MSRP, $1,000 rebate, and they covered all the sales tax (which would have been $7,058 here in Texas). Fees might be a bit high and money factor may be marked up a bit but otherwise seems reasonable
2020 Range Rover Sport HSE Dynamic (P525 V8 engine)
Term: 48 months (It’s under warranty the entire period)
Gross Cap Cost: $112,941 (includes $2,874 in fees as this was a $0 drive off)
Cap Reduction: $1,000 (loyalty rebate)
Adjusted Cap Cost: $111,941
Lease factor: 0.002045
Residual: 42.5% ($49,390)
Drive off amount: $0 (first payment only)
Sales Tax: $0 (Due to tax credit from the manufacturer. This is Texas so would have been 6.25% on the full amount of the car)
Monthly Payment (incl tax): $1,634
At that point, is it even worth getting a Range Rover? It’s completely up to you, but there seems to be no discount on a car that depreciates at the rate of gravitational acceleration (hence the really low RV). Also, any discount you got is lost by the extraordinarily high MF.
If you want a big car with a big engine, X7s are doing much better. More than likely, an AMG would lease better as well.
If you are going to pay more than $78k over the term of the lease, why not just finance it or look at other SUVs?
Unless you want to be seen driving a Range Rover, but at that price point, there are so many options.
For the trim, location and vehicle this isn’t bad at all. Problem is it’s never going to compare well. I’m paying $1470 p/m for my 2018 X5M on a 36/12 lease in Texas. The question is are you looking for an RRS only or are you looking for a luxury performance SUV?
For bang for your buck it’s hard not to compare it to an X5 50i and think that saving $6k+ a year is an easier choice.
For this vehicle though that’s a good deal, including tax credits that must be $12k+ off. I doubt you’ll find cheaper anywhere, and if you go out of state they can’t give you tax credits so it’ll always be more expensive.
How the heck did you get a $116k MSRP Sport P525 HSE Dynamic? Has to be an expensive SVO Paint and literally every option. That’s Sport ATB territory. Regardless, very strong discount and a wonderful car. Enjoy it in good health!
Cars like this fly off lots with less than 2% discount? Wow.
Not trying to be rude, they are very nice cars. Just lots of depreciation in comparison to an LX or Land Cruiser. Then again, this seems to have some very special options rather than one of the five colors Toyota provides for the $80,000 SUV.
To floor ups on special cars (black packages, SVO paints, special editions) are always full MSRP and full mark up on rate. It’s varies greatly by region but that’s the market in SoCal. The one thing I always tell my clients is that our cars are extremely limited in production compared to our counterparts at BMW / Mercedes / Audi. We get a very limited allocation of our flagship models (especially the variants mentioned above).
I shopped for a 2020 RRS and they barely discount their cars. You really have to pay to play to drive one of them. I personally just couldn’t justify the cost.
MF seems crazy high though. What’s Edmunds take?
Sure they lease better but you can’t compare a RRS to an X7. An AMG…, maybe… but I still think it’s next level.
Enjoy it OP, it’s a nice car… pricey, but very nice.