It’s a take it or leave it offer.
With constrained inventories, dealerships are asking whatever they want to for vehicles.
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As an engineer, I agree that this is a perfect analogy. By using a rule of thumb up front and not taking the time to actually calculate the proper answer, you end up with a solution that is far from the most cost efficient it could be. You also end up killing people if you don’t properly assess your requirements. Some time spent up front doing the math for real results in a much better answer than something that’s either way too expensive or just unrealistic.
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There are good data points available here that would get you into a significantly better price position on a defender with more upfront research done. One of which is that there is an unreasonably large swing in residual values between defender trims. If you’re leasing, it is very much in your favor to target a 110s than an X because of the significantly higher residual value.
So you had asked the dealer what the lease would cost you.
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I love the @vhooloo vs @mllcb42 grudge match thing …but I do wonder if they are just alter egos of one
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I’m a big proponent of you should never ask the dealer a question you don’t already know the answer to. It’s always important to keep in mind that talking numbers with a dealer is for finding someone to do your deal, not determine what something should lease for. You should always know the answer to that question before talking to a dealer. How can one effectively negotiate without knowing where they’re trying to get to?
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LR as a brand has a reputation for leasing poorly. LR dealers in Florida have a reputation for extortion.
Here is a comparable (albeit one you can’t get)
If you want a LR, follow @mllcb42 suggestions and start looking at the numbers (you should probably be 24/33 months on a Defender), but if you want a deal you’re on the wrong brand, in the wrong market.
Good luck!
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I wonder why?
I’ll add that whenever $$ are involved you should at least have an idea of what is “reasonable to expect”. That can be achieved by doing research prior.
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Cars are still being sold. Salesmen are lined up in the showroom. Car commercials continue nonstop on TV (someone forgot to tell the marketing and ad purchasing departments there are apparently no vehicles to sell)
Creating FOMO with car shortages is the dream opening line of a lifetime right now. It probably works for 80%+ of unprepared and easily influenced consumers.
Up to the buyer to do your research and homework to sift as best you can through the market shortage FUD. Some brands and some high demand models are more impacted than others, but there will still be over a million new vehicles sold across the US this month alone.
I’d look for something else.
What have you seen in the “Share a Deal” and “Marketplace” sections of LH forums?
This. Your original quote is nearly 50K for a 78K MSRP Range Rover with 36/10 terms… That makes my brain hurt processing that calculation.
Putting this another way. The original offer posted = $1.66 a mile, And that assumes you would use each and every mile and not add on more dealer profit in the Finance room.
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You know why they quoted you such a stupid amount of money, well for 1 as we all know there are no more cars left to sell and secondly, well some dumb idiot will actually believe they are getting a super deal paying $50k over 3 years for a Landover defender…the reason they quoted you that number is that they will quote someone else with that same number and actually sell that car at that price.
Exactly right!
All while crying that there no more cars left to sell at that price. If only they could always charge that much and have plenty of cars to sell😂
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This trim has the 2nd worst RV (57%), and all Land Rover dealers are marking up MF. I would rather buy than lease.
If you like the car, try SE trim which has better RV (63%), and find ones that have your desired options.
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Has the dealer given you the breakdown sheet from where the payment is coming from, the capitalized cost and the money factor? I’d bet this lease is based on a purchase price well over MSRP, like 10k to 20k more and also a jacked up MF!
If you want the Defender, why not just buy it? They hold market value well over time, especially during these times, and rates are low on finance options.
That same lease payment would get you into a $100K Escalade.
Best lease value SUV option is clearly to order a Wrangler 4xe, $60K for $450.
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