I finally made my way down to LR and I’ve received a quote which I believe is not a good deal. I asked the dealer to quote a 2019 Velar S and 2019 Velar R-Dynamic SE w/12K miles/year. For the S this is what I received:
Total Drive off (Velar 250S) $1,000 $2,000 $3,000
39 Months $884 $856 $828
MSRP: $59,494
Discounts: $3,200
Residual: $31,531.82
For the R-Dynamic this is what I received.
Total Drive off (Velar 250R-Dynamic SE) $1,000 $2,000 $3,000
39 Months $946 $918 $891
MSRP: $65,335.00
Discounts: $3,200
Residual: $33,974.20
By the way, I’m still waiting to hear back on what MF was used to develop this quote (seem high to me based on the total monthly payments). Although I guess I could technically back into the MF, huh?
I realize that it may be hard to get a good deal on a Velar because I’m in VA and the taxes are levied upfront on the sale price of the lease (if I’m saying that correctly). However, I’d originally planned to pay for the taxes out of pocket since I’ve learned this and the Quote sheet only shows the taxes as $2,365.21. Exclusive of other registration costs and fees totaling $884.34, which I’d imagine also will have to be paid upfront.
My questions to those on the forum are as follows:
I may have missed recent numbers but what is the MF For a P250 S at 39/12? Also can someone confirm that a MF of .00021 is still current for P250 R-Dynamic SE at 39/12?
Are the monthly payments above so high because they are assuming only three drive-off scenarios and rolling in taxes as a part of the total amount to be financed? I didn’t think this could be done in Virginia. Any help? I’m not focused on monthly payments just curious as to why the totals are so much more than what I calculated by hand.
Edmunds Has a TMV for a similarly built P250 S model as $52,375 so I believe I should negotiate for more incentives/rebates to get the selling price closer to this number. Agreed?
I’ve heard that Velars aren’t leasing as well as they have been in recent times. I’ve been eyeing this vehicle for the better part of six months and I’m really ready to make a move. Do you think it is worth me waiting until May comes in to see if there is any hope that there are better lease incentives in May based on these numbers?
You are most likely only getting rebates and not discounts AFAIK there are ~3k in rebates currently +1k for some horse club PIN
You need to negotiate for a discount not additional rebates. I’m certain 3.5k in additional discounts is definitely doable, even more if you are looking at a loaner.
Thanks for the responses . . . Seems like an unspoken rule perhaps is not to ask the questions on two diff sites. My apologies that I didn’t realize it was taboo. My upbringing is to seek as much wise counsel as feasible. No responses would be a waste of time in my opinion as I’m here to learn. Just figured I’d cast my net wide and digest the feedback once provided.
I also called myself doing homework and I’m admittedly no pro at lease negotiating but just curious why my numbers aren’t coming in near the dealer’s . . . However from my further reading it may be due to the dealer’s mark up.
If you did your homework, you would have at least read the READ ME FIRST post. LR dealers can and will mark up MF but aside from that you are getting absolutely no discount. Figure out what a reasonable discount would be (most dealers have 12% of MSRP to play with between front end and back end cash but definitely will not disclose that or want to come near that- they are a business after all and LR dealers usually don’t want to play ball), figure out what incentives you qualify for, and find the MF on Edmunds. Once you have those three data points, plug it into the calculator. There is no rocket science going on here.
Is this forum only for individuals who are seasoned with leasing or are newbies or second timers also allowed to engage the Hackrs?
I definitely didn’t want to waste anyone’s time and feel that I adequately documented what I learned Fromm Edmunds as far as MF and estimated value to expect for the vehicle.
I just thought I perhaps calculated something wrong being that far apart in total lease payments. Maybe it’s me but I’ve read most all info I could soak up over these past few months . . . Thanks so much for your feedback though.
Not sure if this is the right spot to post this but hope it helps or the moderator can move it.
I just went to LR today in the Bay Area, CA and they provided the below for:
2019 Range Rover Velar P340 R-Dynamic SE all blacked out
MSRP - $73,838
Discount $6,838 (9.26% off)
Selling Price $67,000
Cash Down/Due on Delivery - 2K (He said this is used towards the acq fee/taxes/dealer fees)
MF - .000720
Residual - $40,610.90 (55%)
39 months at 12K a year
Payment $837.99 a month
PM me if you want to know what dealer the offer was at I’m going with a different car but after reading forums on this car and didn’t see many other options. I’m no expert at all but wanted to share to help if it does.
