Range Rover Sport - Buy vs Lease

[trowelhead]

Hi all,

Currently in a 2014 Range Rover Sport HSE Dynamic, really like it and want to get the new facelift one soon.

Spec would be pretty "basic" in terms of not adding too many options. A 3.0 SDV6, HSE Dynamic, only options Santorini Black paint, heated steering wheel, privacy glass and auto dimming mirrors

Looking to buy either via PCP or Lease. Likely to keep the car 2/3 years and then ideally hand back / get new one.

Any benefit of going PCP vs Lease or vica versa?

Prices seem slightly cheaper in the lease, but then i'm locked in, whereas PCP i could trade in if needed? I do quite like the fixed cost nature of the lease

So, these are the best quotes i've had for the exact spec i wanted:

LEASE:
36 month term, 8k miles pa, £5891.61 deposit, £654.63 per month
PCP:
36 month term, 8k miles pa, £5891.61 deposit, £710.57 per month

(i have made the deposit the same on the PCP for a like for like agreement)

(problem is, that is only valid this quarter so prices may well change next week...)

Anyone got any thoughts on whether to lease or PCP - or got any contacts i can try in terms of getting more discount on the car, which would probably make PCP a bit cheaper?

[maz8062]

IMO the PCP looks like a better deal but it will depend on a number of factors. The difference in cost is circa £2k over the term in favour of leasing, however at the end of the term you will have to return lease car and start over. With the PCP you’ll have the option to buy, but more importantly the dealer is more than likely to find you a replacement car at favourable terms, terms tha may mean no deposit for a replacement, buy the car or a reduced deposit to buy another.

If you do not have any desire to buy the car or remain loyal to the brand at the end of the term, leassing may be the better option.

Good luck

[scotnoob]

hi,

Where did you see that PCP deal? The standard deal isnt even close based on https://financecalculator.landrover.com/lr/en/gb/l...3i81o__a-aj494_a-hsedyn_a-std_a-std-wb/quote

Right now I think the 2018 RRS have poor discounts of maybe only 2-3k. Velars are more like 5-8k which is about the same as the pre facelift ones.

My thinking is that by christmas the facelifted one should be back to 5-8k which might make them worth it over the lease deal. Then again, maybe the lease deal will improve as well?

I have no intention of owning the car so its purely a cost vs comfort calculation for me. I am far more comfortable with a dealer than a lease company which have never dealt with before.

BTW would you trust after market wheels? You can get nice ones for 800 which is far less than the 2k it takes for proper ones on the configurator.

[trowelhead]

maz8062 said:

IMO the PCP looks like a better deal but it will depend on a number of factors. The difference in cost is circa £2k over the term in favour of leasing, however at the end of the term you will have to return lease car and start over. With the PCP you’ll have the option to buy, but more importantly the dealer is more than likely to find you a replacement car at favourable terms, terms tha may mean no deposit for a replacement, buy the car or a reduced deposit to buy another.

If you do not have any desire to buy the car or remain loyal to the brand at the end of the term, leassing may be the better option.

Good luck

Thanks, makes sense to me. I would more than likely get another RRS / FFRR in 2/3 years so makes sense to go PCP route thanks that is a very good point.

[trowelhead]

scotnoob said:

hi,

Where did you see that PCP deal? The standard deal isnt even close based on https://financecalculator.landrover.com/lr/en/gb/l...3i81o__a-aj494_a-hsedyn_a-std_a-std-wb/quote

It's via "Rockar" - some kind of online only land rover dealership. Still trying to establish if it's legit - seems so.

Came up for me via carwow and was the only place offering a discount and also low % APR (4.9%)

I took the quote to my local land rover dealership this afternoon and they couldn't get close to be honest, their APR is stuck at 6.9% and only can add a small ish discount...

Link below to the car i've decided upon:

https://landrover.rockar.com/configurator/build/ne...

scotnoob said:

Right now I think the 2018 RRS have poor discounts of maybe only 2-3k. Velars are more like 5-8k which is about the same as the pre facelift ones.

My thinking is that by christmas the facelifted one should be back to 5-8k which might make them worth it over the lease deal. Then again, maybe the lease deal will improve as well?

I have no intention of owning the car so its purely a cost vs comfort calculation for me. I am far more comfortable with a dealer than a lease company which have never dealt with before.

BTW would you trust after market wheels? You can get nice ones for 800 which is far less than the 2k it takes for proper ones on the configurator.

Yeah, i'd rather go to my local place rather than collect the car off a truck, however at a saving of £100 a month or so i'll give them a go i think.

Waiting until xmas is a no go for me, i'm far too impatient

No idea about aftermarket wheels, wouldn't be a route i'd take. I quite like the standard wheels that come on the HSE Dynamic, not very drug dealer which is fine by me!

[trowelhead]

Decided to go PCP route and order has been placed

Gone for HSE Dynamic,

Santorini Black
Sliding panoramic roof
Ivory / Black seats
Privacy glass
Ivory Suedecloth headlining (stupidly expensive but makes the interior imo)
Extra-Large Additional Washer Bottle
Auto-dimming exterior mirrors
Heated steering wheel
Domestic plug socket(s)
Drive Pack - blind spot assist etc

Makes sense to add those options, can PX and have a bit more flexibility than the lease.

Will be a long term car for me, excited to say the least, first new car too

[R33FAL]

trowelhead said:

Spec would be pretty "basic" in terms of not adding too many options. A 3.0 SDV6, HSE Dynamic, only options Santorini Black paint, heated steering wheel, privacy glass and auto dimming mirrors

trowelhead said:

Decided to go PCP route and order has been placed

Gone for HSE Dynamic,

Santorini Black
Sliding panoramic roof
Ivory / Black seats
Privacy glass
Ivory Suedecloth headlining (stupidly expensive but makes the interior imo)
Extra-Large Additional Washer Bottle
Auto-dimming exterior mirrors
Heated steering wheel
Domestic plug socket(s)
Drive Pack - blind spot assist etc

Lol... man maths kicked in! Spec looks great. congrats

[trowelhead]

R33FAL said:

trowelhead said:

Spec would be pretty "basic" in terms of not adding too many options. A 3.0 SDV6, HSE Dynamic, only options Santorini Black paint, heated steering wheel, privacy glass and auto dimming mirrors

trowelhead said:

Decided to go PCP route and order has been placed

Gone for HSE Dynamic,

Santorini Black
Sliding panoramic roof
Ivory / Black seats
Privacy glass
Ivory Suedecloth headlining (stupidly expensive but makes the interior imo)
Extra-Large Additional Washer Bottle
Auto-dimming exterior mirrors
Heated steering wheel
Domestic plug socket(s)
Drive Pack - blind spot assist etc

Lol... man maths kicked in! Spec looks great. congrats

Ha ha ha funny reading that back! It certainly did.

My rational is i will keep the car longer if its how i want it so therefore excellent value etc etc blah blah

How the hell did i end up speccing a fking plug socket haha

[scotnoob]

trowelhead,

Nice looking spec and deal and that apr makes all the difference on such an expensive car. Especially over 4 years. I was wanting a shorter term as the new RRS will be out in 3 years along with a lot of fancy looking electric options.

So I take it you are confident they are a good retailer and you can use franchise as normal? Are you sure hand back (if you choose) will be just as simple given its a different finance company?

[trowelhead]

scotnoob said:

trowelhead,

Nice looking spec and deal and that apr makes all the difference on such an expensive car. Especially over 4 years. I was wanting a shorter term as the new RRS will be out in 3 years along with a lot of fancy looking electric options.

So I take it you are confident they are a good retailer and you can use franchise as normal? Are you sure hand back (if you choose) will be just as simple given its a different finance company?

Cheers, i've gone for 36 month term pcp - its an official land rover dealer as far as i am aware so should see no reason it should be any more difficult, i assume they arrange to collect, they use land rover finance and mention handing it back as an option at the end...

[scotnoob]

Land Rover don’t have their own finance company like the Germans, hence High Apr and low gfv. Looks like they used a different third party to get that tasty 4.9 I would think,

Btw, the velar d300 i configured is actually almost 100pm cheaper thsn the rrs dynamic I configured. Under lease it was only 10pm difference which I thought was interesting.

Comes down to the bigger discounts I guess. Velar hasn’t sold as sold so well which is why they give these.

For me it puts it back in the running. Will test drive both and see how I feel. I suspect the extra ride height and spacious front seats will push me to rrs anyway.

[Buster73]

I’m heading down that route in the next few months , liked the look of the Velar but when you see both side by side it’s the RRS that does it for me.

Anyone any idea if RRS are available from stock if you’re not too fussy on the spec or is it a spec and wait job ?

[Willy Nilly]

scotnoob said:

Land Rover don’t have their own finance company like the Germans, hence High Apr and low gfv. Looks like they used a different third party to get that tasty 4.9 I would think,

Surely they've set up a finance company to do this. I was under the impression that selling finance made as much if not more than the car/van/tractir/excavator or what ever is being aquired.

[scotnoob]

Buster, not many rrs facelifts in stock just now but there will be more soon enough. Loads of velars, including second hand which is perhaps worrying.

Willy, having your own finance company that can assume of risk and admin for billions in pcp is probably not as easy as it looks. Both jag and lr salesmen have told me this is the reason for low balloon payments in their pcp deals.

The Germans make that figure artificially high as they have the power to.

For example, xf and fpace don’t depreciate any more than a6 or q5 but compare the break down online. The Audi’s will almost certainly have negative equity at the end but the jag may even have done equity. Land Rover often do.

This was s good for audi though as they keep monthly payments do much lower for same price of car, this making it much easier to shift volume.