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Here's a screenshot from Wikipedia of the V35A-FST motor that is used in the Tundra and all the other applications Toyota/Lexus has/is using it in.
Now here's a screenshot of the P400 Ingenium Motor (AJ300 MHEV) and all the vehicles it's used in NA.
Both of the version of engines from Toyota and Land Rover had small variations of the motors used in vehicles prior to the current Tundra and current LRs.
I think everyone discounts that LR had time to work out the mechanical issues with their Ingenium motors very well before it made it into the Defender starting in 2020. Especially for the P300 variants.
I'd imagine the Tundra problems likely stem from their production in San Antonio. LRs being built in the new factory in Eastern Europe has proven well all things considering, since LR wants the Defender to be it's top seller and it's showing to be.
And likely the GX being built in Japan will add to its reliability.
TLDR : Financing is okay for LRs in my opinion. But that's just like my opinion man.
Last edited by NativeTexan; Feb 14, 2024 at 08:03 AM.
I leased my 2023 Defender on a 24 month lease as I was taking baby steps into the Land Rover world. Almost 18k miles now and I haven't had a single issue. My lease is up in 6 months and I'm currently weighing my options.
I would recommend against leaving your current vehicle, but if you decide to, sell it yourself instead of trading it in. As you can see, you will take a beating on a trade because the dealer wants a ton of profit headroom. I recently sold my 17 911. The dealer offered me 69. I sold it for 83. It cost me a $5 dollar ad on car gurus and a few months of waiting. I made 14k for the effort.
There’s no problem selling a leased vehicle. You just have to satisfy the full balance.
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I only pay cash. In the words of Dave Ramsey, taking out a loan on a car is one of the dumbest mistakes anyone can make. And no, I do not want to hear “I’m making money by financing my car” bull****.
1 - Your interest rate is a significant metric when comparing to others here. You are at 7.5% - normal for these days, but waaaay too high when compared to people that bought their cars 2 or 3 years ago.
2 - IMO values of used Defenders will take a significant hit after the GX starts selling (unless there is a huge flop with reliability issues on the GX - I personally doubt it being a Lexus/Toyota). I disagree with the opinion that the GX will not appeal to a Defender buyer. Quite the opposite. The GX aims squarely into the Defender. The design is NOT as beautiful as the Defender, but it is pretty damn close. I can see people willing to trade a striking design for the added reliability and avoid having their cars towed to the dealer every other week to fix issues (I may be exaggerating here, but if you look in this forum you will see many many similar stories.) People are not all stranded on the side of the road left and right, but the many issues plaguing Defenders are well documented here.
3 - If you are being offered less than your pay-off now, you probably bought a car more expensive than you can afford (assuming you maximized your down payment and did not hold back any money). I would try to maximize the trade appraisal or selling price to private as much as I could and bite the bullet. Your hole is only going to get bigger and deeper. These cars are not going up in value by any means and the added influx of used 4 year old Defenders out of warranty and being priced at mid to low $50s won't help you. Best case they will keep the current depreciation rate - Like I said, most probably, values will take a hard hit from the GX sales.
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Consider the miles you drive when you lease as most of these low number leases limit you to 7500 miles per year. After that, I think you pay 25-50 cents per miles over the 7500.
Leasing isn't a terrible option if the money factor isn't out of line with purchase interest rates. You'll pay a little more but you generally will end up in the same spot if depreciation falls in line with the finance company forecasts.
With a lease you don't take on risk of a lemon or loss of value in an accident. If you like the car at the end of the lease just go ahead and buy it. Also if you change cars often it's just an easier experience.
Leased, in small extent for taxation purposes and also to see if it turns out to be lemon / unreliable.
Cheaper to part with than on financed.
Will be bought out if everything goes OK,
So with the way Land Rover”s depreciate & not planning to keep the vehicle for more then 3 yrs tops!.. The way I’m thinking, & please correct me if I am wrong. With financing the vehicle there is a very good chance U will be in the negative when going to sell. With the market stabilizing. Covid prices are over!! Leasing however, U know what u are signed up for… After X amount of months u can just walk away from bad credit loans colorado.. Again, please correct me if I am wrong. therefore I am thinking about selling my financed Defender now while I can possibly just walk away & leasing a new one? Would appreciate U smarter folks input… thx in advance!
Your thinking is quite sound. Land Rovers, like many luxury vehicles, do tend to depreciate quickly. Financing the vehicle could indeed leave you in a negative equity situation when you go to sell, especially if you're only planning to keep it for a few years. Leasing, on the other hand, offers the advantage of predictable costs and the ability to walk away after the lease term without worrying about depreciation. If you can sell your financed Defender now without taking a significant loss, leasing a new one might be a good strategy to avoid the financial risks of depreciation. Always double-check the lease terms to ensure they meet your needs.
