I've never bought from Land Rover before, more of an Audi person and with VW backing them they have the giant finace arm. Do they do their own financing or are they working through a third party?

Does anyone have a recent money factor for leasing from them?

With my car arrival coming within a month would like to plan ahead on if we decide to lease or purchase. I have my credit union numbers but curious about leasing options but can't seem to find anyone sharing the money factor you get from LR.

 

money factor
2 years: .00309
3 years: .00255

residual values : 24/10k110 base 92 (that’s correct)

90 s 86

110 s 87

90 se 79

110 se 82

 

No way would I lease anything right now. When the bottom falls out of the market and it will, it will not pretty at the end of a lease in 3 years.

 

just making sure I'm reading your short hand right on the residual, for a 110 SE I'd take the price of car * 0.82 to get the residual?

 

How do you figure? If I'm handing it back, the bottom falling out is their problem not mine? I've leased a lot of cars over the decades and other than the $395 return fee or whatever I've never had an issue when I'm not buying the car out.

 

that’s right.

 

that would be a reason to lease. If the bottom falls out, you can always return the car. If the market remains as hot as it is today, you can pay the pre-set price to buy the car, flip it and be in money. You have an option to buy it as the residual value but there is no compulsion. Risk of the value being lower than the pre-set residual value is with the leasing company.

 

LR financing uses Chase. I went with them and got 3.49% for 72 months with an 830 FICO but that was like 15 months ago. Leasing at that time was not far off from the 72 month financing so I went with the financing. I think the lease was I want to say like $100 less per month. I didn't think that was worth it. With the residuals posted above in this thread I have to think the lease payments today would be much less than I was quoted then. If the market drops you hand over the keys. I really don't think leasing is a bad idea, I mean I financed this but I planned to keep it, that's why I bought the extended warranty. Plus I put on a lot of miles so I was hesitant to lease again. As it turns out I'm trading it anyway because of increased expenses with my income taxes so I'll have to try to get my money back on the extended warranty. All in all the purchase was a good one, I think my MSRP was 60k for the 2022 P300S with a decent amount of options and checked KBB last week avg retail is I believe still 62k (above MSRP) with a trade number of 58k. I will be trading it likely within 6 weeks and should still get 60k after the re-appraisal (I hope), if not I'll have to consider backing out of my ford deal, that order is being built this week.

 

I had the same experience as Chief65 - Financed via Land Rover / Chase Bank - 2.96% interest rate. Didn't see a big enough advantage to leasing at this interest rate. I also wanted more flexibility to sell anytime I choose.

 

yeah I'm on the fence. I've been driving electric cars for years, and I currently have an Rivian R1S on order but 2H23 was the earliest it can be here, and that number was 'hey you'll get this when we're making 50k units a year' and now they're only making 25k so I'm guessing I won't get it until sometime in 2024. So if I lease, and if my Rivian R1S ever ships I can just lease for a couple years and be out. But loan interest rates even at credit unions are 5-7% unless I do a painful monthly payment now, so the high money factor is about the same to me. With the intent of not keeping it long term that two/three year lease looks appealing especially with the uncertainty.

I'm not out to make money on this, just that's my decision process pressures. Just trying to decide if I want to keep this more than two/three years.