Should I go for a 2016 LR4 with NO heavy duty option?

Disclaimer: Links on this page pointing to Amazon, eBay and other sites may include affiliate code. If you click them and make a purchase, we may earn a small commission.

Finlayforprez

Full Access Member
Joined
Feb 8, 2011
Posts
3,401
Reaction score
92
Since your lease was up, and you are keeping it, I take it you bought it? How did you do with your lease and residual value etc?
My wife and I are trying to decide on a cpo 2013-2014, or lease a new one and think about hanging onto it after the lease is up. So I'm always interested when I hear stories of people actually buying theirs.
I leased my 2011, but bought my current 2013. I had a 36 month lease on the 2011 and they took it back almost 1.5 years early and paid it off, and in fact, treated it more like a trade in because the pay off was about $4,000 less than it was worth. So, I made out when I turned in the first lease and bought the 2013. Not sure if that was helpful, but just wanted to share. I find that LR leases are higher than other brands, so it does usually bring about a lower payoff at the end. Plus, a lot of the CPO LR4s are commanding a good price!
 

Elinders

Well-Known Member
Joined
Oct 13, 2015
Posts
55
Reaction score
1
I leased my 2011, but bought my current 2013. I had a 36 month lease on the 2011 and they took it back almost 1.5 years early and paid it off, and in fact, treated it more like a trade in because the pay off was about $4,000 less than it was worth. So, I made out when I turned in the first lease and bought the 2013. Not sure if that was helpful, but just wanted to share. I find that LR leases are higher than other brands, so it does usually bring about a lower payoff at the end. Plus, a lot of the CPO LR4s are commanding a good price!

Very helpful. Did they come to you or did you stop in and ask? I have been amazed at the cpo prices right now. We are going to wait until February/March to pull the trigger and ideally find a low mile, late build 2013, or not as ideal a 2014. But with the prices they are asking for those models currently, we are leaning towards leasing instead.
 

elrocko

Active Member
Joined
Feb 28, 2014
Posts
31
Reaction score
1
We leased our 2010 then bought it in 2014 for $24,000. Apparently we paid too much on that lease. The buy price was so low (about $10,000 under KBB) that we really had no choice but to buy it. Otherwise we would have been throwing away that $10,000.
 

Finlayforprez

Full Access Member
Joined
Feb 8, 2011
Posts
3,401
Reaction score
92
Very helpful. Did they come to you or did you stop in and ask? I have been amazed at the cpo prices right now. We are going to wait until February/March to pull the trigger and ideally find a low mile, late build 2013, or not as ideal a 2014. But with the prices they are asking for those models currently, we are leaning towards leasing instead.
I was going to wait until my lease was up in 2014, but this was before we received official word that the 2014 model would not have the 5.0 V8. There was a lot of buzz and debate on this forum (even a $50.00 bet) about whether or not the 2014 LR4 would have the 5.0 V8 or go with the SCV6. My friend who is a sales guy at a LR dealership told me that he heard that the 2014 MY would go with a SCV6; however, it was not confirmed. Since I did not want to risk losing the V8 engine, I special ordered a 2013 a few months before ordering stopped. So, I went to them and told them I wanted to order a 2013 and worked with them to take back my 2011 lease over a year early. We negotiated that up front, but the "trade in" price wasn't determined until my 2013 arrived.

You are correct, CPO prices of 2013 models are quite high right now and from what I hear there is still a demand. Most LR4 owners likely want the newest model, but there is a pretty big market for later model year CPO LR4s.

I don't know if this will remain the case once the 2017 (???) "Discovery" comes out late next year and gives us the new design.
 

Elinders

Well-Known Member
Joined
Oct 13, 2015
Posts
55
Reaction score
1
I was going to wait until my lease was up in 2014, but this was before we received official word that the 2014 model would not have the 5.0 V8. There was a lot of buzz and debate on this forum (even a $50.00 bet) about whether or not the 2014 LR4 would have the 5.0 V8 or go with the SCV6. My friend who is a sales guy at a LR dealership told me that he heard that the 2014 MY would go with a SCV6; however, it was not confirmed. Since I did not want to risk losing the V8 engine, I special ordered a 2013 a few months before ordering stopped. So, I went to them and told them I wanted to order a 2013 and worked with them to take back my 2011 lease over a year early. We negotiated that up front, but the "trade in" price wasn't determined until my 2013 arrived.

You are correct, CPO prices of 2013 models are quite high right now and from what I hear there is still a demand. Most LR4 owners likely want the newest model, but there is a pretty big market for later model year CPO LR4s.

I don't know if this will remain the case once the 2017 (???) "Discovery" comes out late next year and gives us the new design.


Got it, thank you. Ideally we go with a cpo 2013 with under 45,000 miles or so, but we will wait and see. I guess the other alternative would be to lease a 2016 and see if there is a similar demand for the last year of the "old" body style (which I love) a couple years down the road.
 

Latest posts

Members online

No members online now.

Forum statistics

Threads
36,222
Posts
217,567
Members
30,473
Latest member
OnoA
Top