Deal Check: 2025 Land Rover Defender 110 P300

Ask the Hackrs
1

Hi Community,

I’d like to get your input on a lease deal I’ve signed. The dealer made a small mistake in the agreement, so I can still return the car or renegotiate it :slight_smile:

As for now, I was able to get a check for 3 lease payments, as soon as resign the deal.

However, I’m still curious about your thoughts about the deal.

Selling Price: $74,823
Doc Fee: $85
Est Fees: $2,235
Total Price: $76,099
Rebate: $2,500
Cash Down: $8,121
Balance: $65,477

Lease:
$10K down
36 mo / 10,000 miles
Residual $50,131.41
Monthly Payment $864

Google Photos
Google Photos

2

What’s the MSRP? Looks like no discount?

3

Do you mean that the dealer discount is not included?
MSRP $74,823

4

It doesnt appear to exist.

1 Like
5

Can you point that out the agreement?

6

Deal has no discount. Return the thing and shop elsewhere.

6 Likes
7

Yup! Look at the agreed upon value in Section 11 of your agreement. It’s the sell price and equals the MSRP. Therefore, there is no dealer discount.

8

A few things…

  1. Your money factor is .00307 and is likely marked up.
  2. Your acquisition fee of 1075 appears to be marked up by 180.
  3. There is an inconsistency in the application of the sales tax rate. 8.75% was used to levy tax on the cap reduction and 7.75% was used to levy tax on the base payment.
  4. There is no dealer discount as some posters have already stated.

Agreement appears to contain careless mistakes. I would not favor this dealer with my business. Move on.

3 Likes
9

Chase changed Acq fee a few months ago. Rate is marked up and discount isn’t there.

Realistically OP should be able to drop effective payment by $120-140mo.

10

Why do people ask these questions AFTER signing a deal?

OP should unwind this deal if possible or renegotiate. Don’t quite understand why OP is getting a check for 3 lease payments though. Maybe that is now his discount?

And why would you put $10K down on a lease?

1 Like
11

I think because he’s brand new and he doesn’t know the ropes yet. He’s here to learn and unfortunately many learn by first making some big mistakes. Now if he’d been a member for 2 years? That’s another story :joy:

12

Horrible deal, you essentially did everything wrong.

3 Likes
13

When you first joined in 2017, you were an expert?

14

No but I had the good sense to ask before signing for a car.

OP, take the truck back. Start over, hire a broker.

2 Likes
15

Return it and then count your lucky stars the dealer was inept.

6 Likes
16

@cinegeek - Please do this today. Do not try and renegotiate with this dealer. You will be wasting your time.

@cinegeek - If you really want a Defender, please do this.

I also recommend doing some reading on the basics of leasing.

2 Likes
17

Assumed OP was using Land Rover which, according to the LH calculator, their acq fee is 895.

18

I don’t think you will find a LR dealer in the country that doesn’t mark up the acq fee. This is the least of OP’s problems on this. $10k cap reduction has to go. Base MF and/or sufficient discount should be easily attainable on a Defender.

19

Keep in mind it may be a similar change to Mercedes, in which a dealer can mark up the Acq fee should they choose. Max mark-up is $300 I believe for Mercedes so perhaps it is a similar option LR / Chase.

20

Thanks for all the comments! This isn’t my first lease, but it is my first for a luxury car. In hindsight, I’ll admit I didn’t give this deal my full attention due to a busy time with work and personal matters.

Looking at current 2024 Defender lease promotions on Land Rover’s website, even the most affordable deals require a down payment of $7,500. Given that context, do you still think my deal is as bad as it seems?

I appreciate your insights and advice!