Hey guys. I’m from Long island, NY (11040) and was just quoted a lease for a 2020 range rover velar p250 r-dynamic lease and was wondering if it was a good deal and if you guys think there is any wiggle room to negotiate pricing. This is a loaner car with already 3200 miles on it.
MSRP-67079.00
Selling price: 59718
Mileage: 10k/36
Monthly payment: 688.29
Acquisition fee: 895.00
fees and insurance: 157.50
upfront taxes: 2220.80
0 down payment
Edmunds money factor: .00001 and 56% residual
The dealer however quoted me a money factor of .00041 so I don’t know where that discrepancy is coming from and is it something I can negotiate with them in regards to the money factor??
Total cash required on delivery: 3961.59
Looking at this deal and car, do you guys think I can negotiate for a lower monthly payment without the possibility to put anything down? I’m new to car leasing so I just want to have my bases covered and I appreciate all your input. Thanks in advance.
It’s when the dealer takes the buyrate of 0.0001 or whatever it is, and makes it higher, in this case a nice and even 0.004 add. This is profit, subsidized by a ~11% discount.
You can negotiate, JLR shops LOVE to markup MF,
With that discount, not sure how much headway you can make.
Am I reading this right, you want to get another 4k knocked off signing, and have lower payments? Or am I reading this incorrectly.
Thanks for the reply Hershey. Specifically just the monthly payment really. But logically I feel like at this point I’d have to put something down to get the monthly down. The signing fee is first month’s payment and the acquisition fee: 895.00, fees and insurance: 157.50, and upfront taxes: 2220.80. What do you think I can negotiate the money factor to? Since on Edmunds it revealed the MF is .00001, can I just outright tell them I did my research and the MF is that and not the .00041?
They’ll tell you the same thing I did, that’s markup, and that’s where at least a portion of your discount is coming from.
Thanks for the input Hershey. What do you think of this deal from what you’re seeing? Something I should go along with or is there anything you think I negotiate with aside from maybe the money factor.
I used the leashacker calculator with the actual money factor and the utilization of the incentive (1350 lease cash deal), this is what I was getting:
Am I placing the numbers wrong in here somewhere to get such a big difference in the lease payments here? Cause if not, I’d obviously love to use these numbers to negotiate with the dealer. Thanks for all the help.
