So last year I leased a Velar loaner ([SIGNED] 2018 Range Rover Velar P250 HSE R-Dynamic - #8 by Enforcer) and since then it has been in for electronics repairs about 12 times so I contacted LR and they offered to buy out my lease (there was about $14k in negative equity, curb rash, various dings and scratches everywhere, 10k miles over) AND give me an additional $2300 towards a new LR, PLUS selling me the next car at invoice w/ a $1000 loyalty credit.
So, ended up with this for the following:
MSRP: $81,787.00
Sell Price: $77,217.19
MF: .000120
RV: 63%
Term: 33/12k
Down: $249.00 (LR covered $2300 plus the $1000 loyalty)
Monthly: $890/mo
Enjoy it in good health man, I’ve had nothing but amazing experiences with my Rover. There isn’t a SUV on the road that garners as much attention and love as the Range.
What’s your tax rate? Toying around in the calculator even assuming you got $3300 in incentives on top of 5.6% off and 0% tax and checking sign and drive I am showing $900 a month.
When I got my wife’s Disco there, the heat smelled like fish for the first two weeks. We took it in and there was a mice nest and bodies in the air filter box. No thank you.
Thanks, I think you should share that pertinent detail as it makes the nature of your deal somewhat unique compared to the majority of markets. Congrats on the car.
Sounds like a good deal. I’m curious about how you got to this point though.
You were only one year into the lease, and note that the Velar was in and out of the shop numerous times, including 4 times for 3-4 weeks. So out of one year of ownership, the car was in the shop for approximately 3 months. Yet you were already 10k miles over the lease allowance? And curb rash and dings and scratches everywhere? Seems like a challenging use case for leasing. Do you also get the additional wear and tear coverage to eliminate downside damage risk when you return at lease end? And maybe pre-buy miles if you’re going to go that much over your lease allowance?
Yes that was first starting my business and I was on the road a lot, but now with several employees I drive much less and am exposed to much less unsuitable driving conditions
