Hi all,

I finally put an order for a Defender. Will be here hopefully by summer.
I am considering a lease because I dont put lots of miles, and I am pretty much a grocery mall crowler. I think 15k miles 36 months would be fine.
Also considering it because is a piece of mind with reliability issues known for land rover software crap. I am also assuming they would provide a loaner if I need it.
What are your thoughts?

 

Leasing would give you peace of mind, what's the warranty in the USA?

We get three years here and l think it's five years in Aus.

With the Defender it's a difficult one because of the residuals, here in the U.K. a two year old one sells for list price or more.

You could buy one on finance run it for three years and then sell before the warranty runs out.

 

If you are going into it with the mindset you are describing, save yourself the self-induced grief and go lease a Lexus.

 

My theory (as a rich *******) is ... never lease.

(joking)

 

I was open to whichever made sense - but the leasing rates were ridiculous when I picked up my Defender in November 21. I got 60 months at <2% through the dealer (which was a better rate than my credit union). Leasing at the time had absurdly high money factors and stupidly low residuals, meaning monthly payments were 2X buying.


Just do the math when the time comes - interest rates and money factors change all the time - do your homework and check every calculation yourself (because it's funny how the "mistakes" always favor the dealership)

 

Leasing is expensive these days, but I've decided to lease because of LR previous reputation and if it's not a lemon we are buying it out.
Can buy out at any time.

 

Defender leasing in Fall of 2022 was not valuable. Payments were as high, residual in three years was almost half the vehicle value (54%) which is ridiculous based on selling. They clearly don't want to lease these.

There is a forum on Edmunds where you can post and ask for current leasing rates and they'll post them. I didn't find any value in a lease, and I have leased maybe 5-6 cars in my life.

 

I think it really comes down to financing rates vs lease money factor. In a lease, the option to buy in the end allows you to either buy and take advantage if the value of the car is higher at the end than the buyout price, or get out if the value drops. But you typically pay a premium for that flexibility.

When we got our Defender two years ago, the lease rates were pretty good, so we leased to keep some of that flexibility (and are planning now to buy it out when the lease is up).

But our second car that we bought a year ago, lease rates were really high and purchase financing was cheap. So we bought.

 

if you can buy it, finance and buy it. you can always sell or trade it anytime.

 

I just recently ordered a Defender 110 and will likely end up leasing since it's easier fo me to write off for work.

Another benefit of leasing is that dealer added / installed options like the expedition rack can be residualized, essentially making it free (except for labor) if you return the car at lease end.