Yes, $2,500 is for the loyalty. I’m asking for the detailed numbers, should be able to post them here, soon.
Do yourself a favor and post a calculator once you have the detailed numbers.
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They are not at $65k selling price. Just finance and drive for a few years. LRs never lease well.
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On what planet is it “promising” to rent a $65k asset for $34k for 3 years?
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It’s a $71.5k asset. And this whole renting a $X asset for $Y theory is as useful a metric for a good deal as the 1% rule.
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You should never talk numbers with a dealer without knowing what they should be first.
If you find yourself with a dealer offer in front of you, unsure of the details and wondering if it’s a good deal or not, you have failed to properly prepare for that dealer conversation and presented yourself to them as an uninformed customer ripe to be taken advantage of.
You’re doing yourself a huge disservice by approaching your dealer interactions in this manner. It’s a mistake that will cost your thousands of dollars.
How about you enlighten me!? Do you think I’m a God that whatever I do in my life I know how everything should work? Just to give you example, should I know what’s the G-force when then new spaceX rocket is launching?
The steps for learning how to put together your own numbers have already been given in this thread, so the how is there. What is critical to understand, and those that are new often miss, is how important it is to take the time to drive the negotiations with a dealer by being prepared. If you go and ask the dealer how much they want you to pay, which is what youre doing when you ask for a quote, they’re going to give you an answer that favors them.
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Not rocket science.
Find out what MSRP is for vehicle
Find out what discounts people are getting for Defenders
Find out what base money factor is
Find out what residual is for desired year/mileage
Find out what incentives you qualify for
Put it into calculator and tweak discount until you find out what you want to pay per month. Fees are a little hard to know but usually it’s a small percentage of the deal.
Present this info not using this website to various dealers.
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Looks like Galpin. Nothing about Galpin is promising.
They’re usually at the height of the market regardless of brand so you are better off comparing other dealers.
Stop torturing yourself asking for absolution on your deal. You have saved yourself about $200 a month compared to your first deal. If this is the vehicle you want at a price you are happy with, then go for it. Otherwise contact a broker to see what they may be able to do for you. It will be less time consuming and less stressful. It will probably save you some more money, but for some people buying a car is all about the hunt.
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The first offer you shared had no dealer discount. You were advised to shop elsewhere. The second offer you shared seemed to be better, but you were still advised to shop other dealers.
At this rate, your best bet is to work with a broker in the Marketplace. Are you sold on leasing the Defender?
It’s not. Any OEM can throw on whatever arbitrary MSRP they want. Like a BMW XM, or Mercedes EQS, or VW Phaeton. It doesn’t mean anything. The only definition of value that matters is market clearing price, ie what a buyer and seller agree to.
There are many ways to drive a vehicle. Not comparing them would be absurd. The first step to a proper comparison would be to understand what the asset could actually be bought for and not its inflated sticker price.
Ok but different cars have different financial value and different perceived value to the buyer. Those can be mutually exclusive and that’s ok.
A blanket uniform assessment of this limits anyones ability to pursue what they actually want and instead directs them to cars that may be leasing better that month than others. Sometimes people just want what they want. Is a EQS a better dollar value than a Defender? Yes. But not everyone wants to make that sacrifice. They just want the best deal for that particular car. Also, the $X for $Y metric leaves out the estimated residual value of the car at the end of term. And that’s important to consider when weighing TCO.
No one was suggesting the OP get a EQS or any other vehicle IIRC.
In this instance the vehicle is a Defender. And the OP has 4 ways to have a Defender in his driveway. To avoid comparing or inadvertently choosing one of the more expensive avenues just doesn’t make any sense.
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Assuming we like new cars every 3 years:
Option 1: Lease for $34k over 3 years.
Option 2: Buy at 3% over 60 months- TCO for 3 years is ~$45k. Right now, MMR on 3 year old Defender’s with 30k miles on the odo is $38k, realistic trade value no more than $35k. Big assumption that this holds true in year 2028 where payoff would be $30k, equity +$5k. So net TCO on finance becomes $40k. And obviously the risk of a bad carfax during the course of ownership makes this scenario even more bleak.
Unless I’m looking at this wrong, is $34k on a risk-free lease versus best case scenario of $40k on finance better or worse?
That’s why a statement like $34k for a $65k asset means nothing w/o adequate context.
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There’s no need to make that assumption.
Arbitrarily making the terms “equivalent” just leads to a flawed conclusion. Ownership compared to today’s best leases (13m Ioniq, 24m Volvo XC90 T8+, etc) would, for example, justify a $800 lease payment on the Ioniq and a $1,200 payment on the Volvo. Because depreciation is steeper in the near term.
The only true equivalence is annualized cost. Find the sweet spot of ownership/depreciation, whether it’s 3 or 4 or 5 years and compare the annualized cost to the annualized cost of consecutive leases.
In addition, driving a LR Defender is already an expensive proposition compared to any comparable vehicles. So it falls under an aspirational or “dream car” category. Makes no sense to drive your dream car while paying through the nose for the right to chuck the keys back in exactly three years while always minding the odometer. Own it for 4-5 years, enjoy it, drive it as much as you want, you’ll still come out way ahead of the annualized cost of consecutive leases.
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Well actually 90% of the reason to lease a car is because of the unfettered ability to turn it in at the end of 3 years and get something else. So it is reasonable to make that assumption.
This is also a flawed way to look at it. Because who’s to say that an individual is not looking to change make/model at the end of the 3 years? Or if they really like the Defender, it could be that the lease programs become more attractive on the new model year, and they can get a new one at a better price. There are also other risks associated with a purchase than a lease like unforeseen events that adversely impact your resale value.
By this logic, 95% of luxury or “dream” cars would make more sense to buy than lease simply due to the typical depreciation curve after years 4 or 5. If you like the flexibility and variety, an apples-to-apples comparison is TCO of 3 years of lease to 3 years of ownership, and in most cases, leasing comes out ahead.
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You are wasting your time arguing with someone that likely does not even own or lease a car.
It is all about the post count.
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Leasing a car is just a means to an end to some of the veterans on here. Whereas others just want to lease what they want for the best possible price. They come here for help and the ad nauseum “you’re going to pay $XXX for a $YYY car for 3 years” is unhelpful 99% of the time.
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