Lease or Buy?

[danrhiggins]

OK, I am very naive when it comes to buying vehicles. I have never considered leasing as I always thought I would keep the vehicle for a longer time. (Big mistake with my recent purchase of the 2014 Acura MDX.)

If I buy an LR4 I certainly hope to keep it for a few years - maybe a long time. But, I am concerned about a significant model change in 2015. It may not happen. I may not like what they do with that model. Then, again, they may do a great job with it which will devalue a 2014 and make me want the 2016 (I've had enough of first model years with the MDX.)

But I have no idea on how much a lease will cost me. I have now idea how LR is with leases. I would have my MDX as a trade-in as a down payment (I still owe some on it.) I could also put some cash into it.

Other than basic research on lease vs buy anything recommendations specific to Land Rover?

My other option is to wait until we get word on the 15MY before making a decision. Which I realize could be months from now.

 

[mbw]

If you like the design of the LR3/LR4 more than the new range rover, sport, etc...
BUY
else if you like the fancy design chief guy who probably sleeps in his suit and has a hard-on for victoria beckham:
Lease

 

[Finlayforprez]

if you like the design of the lr3/lr4 more than the new range rover, sport, etc...
Buy
else if you like the fancy design chief guy who probably sleeps in his suit and has a hard-on for victoria beckham:
Lease

hahahaha!

 

[ougrad1]

If you like the design of the LR3/LR4 more than the new range rover, sport, etc...
BUY
else if you like the fancy design chief guy who probably sleeps in his suit and has a hard-on for victoria beckham:
Lease

That's hilarious!

 

[Finlayforprez]

I asked myself this very question back in 2011 when I got my first LR4.

I had a late 90's Discovery that was the biggest piece of crap - ever. It was just one problem after another and the dealership in CT (where I was at the time) took it off my hands because of all the issues. While I really liked the vehicle, and have always been drawn to the iconic nature of Land Rover, I swore off Land Rovers for a while.

I was a bit leery when Tata bought Land Rover back in late 2009, but I think it was probably a very good thing since they really put a lot of effort into the engineering, design, and reliability. I closely watched the LR4 when it was introduced in 2010 and then in 2011 decided to give Land Rover another try. However, I did not want a repeat of my disaster with the Discovery so I opted to lease my 2011 LR4. I had my 2011 for two years and it was awesome - definitely made me back into Land Rovers. I had originally planned to wait until 2014/2015 to give up my lease and then custom order and buy a new LR4/LR5 (or whatever the Discovery was at the time).

With all the rumors of the changes (e.g., V8 to V6, etc.), then I decided to contact my dealership and they agreed to take in my lease early, so I ordered a 2013 with exactly what I wanted in a vehicle and my needs. I got a great deal, and they gave me a very high trade in (and they paid off the lease), so I opted to buy my 2013 because I will likely keep it long term. So, in my case and situation, I wanted to lease so I was not stuck with a vehicle after three years.

I will say that Land Rover leases tend to be more expensive than say BMW or Mercedes, but it does make it easier to get out of the lease earlier. On my 2011, my lease pay off was about $15,000 LESS than what it was worth - at least. So, I made out really well.

You might be able to get a good deal on a 2013 lease, or a new 2014, and then wait and see what comes up in 2015/2016 as far as changes. The only caveat would be that you need to be the type of person in which a lease would work: puts on low miles, takes good care of the vehicle, etc.

I hope that helps.

Regards, David

 

[danrhiggins]

Thanks. That does help. Although I take very good care of my vehicles the reason I am getting this one is precisely because I want to take it on back roads from time to time. I am moving away from Lexus and Acura because I have always been afraid of breaking or scratching them. And I already have 15K on the Acura I bought last June as I usually do a couple of long road trips each year. As I think about it, I hope this vehicle to be something like a "boat" for me. I won't be as much into modifying it as some but I want to accessorize a bit.

So now the question will be whether to wait a few months and see if word comes out about where the 15MY really goes. I don't need to make a move until Spring or early Summer. I would love to do Moab and the CanyonLand area of Utah with my Dad in September and I would like to have some miles/experience under my belt before then.

 

[Finlayforprez]

Thanks. That does help. Although I take very good care of my vehicles the reason I am getting this one is precisely because I want to take it on back roads from time to time. I am moving away from Lexus and Acura because I have always been afraid of breaking or scratching them. And I already have 15K on the Acura I bought last June as I usually do a couple of long road trips each year. As I think about it, I hope this vehicle to be something like a "boat" for me. I won't be as much into modifying it as some but I want to accessorize a bit.

So now the question will be whether to wait a few months and see if word comes out about where the 15MY really goes. I don't need to make a move until Spring or early Summer. I would love to do Moab and the CanyonLand area of Utah with my Dad in September and I would like to have some miles/experience under my belt before then.

The LR4 is perfect for Moab and UT in general. My family splits their time between CA and southern UT (Hildale), but I have not taken my 2013 there yet. We either fly or have a Chevy Tahoe that goes back and forth.

 

[GermanRoots]

So now the question will be whether to wait a few months and see if word comes out about where the 15MY really goes. I don't need to make a move until Spring or early Summer.

Just to help you out on expectations....you are very unlikely to hear anything from LR about the plans for MY15 by spring or summer. Many of us on the forum waited until late fall of 2013 to find out what they were going to do with the MY14. You'll notice that MY14 LR4 still is not shown on the LR website.

 

[danrhiggins]

Thanks, Everyone. This helps. I am actually leaning towards purchase at this point. There are a couple things about the MY14 that I wish were different (shift dial) but that is going to be true with any vehicle. (In fact I love a lot of things about the MY14 Acura MDX I have now that I will lose in the change but there are also a number of things that frustrate me and at the end of the day I need a very different vehicle - which the LR is.)

I believe I could enjoy an LR4 for at least 5 years. Will I be disappointed I didn't wait for the MY15? Maybe. I wouldn't mind it being somewhat lighter but not if they change the overall shape/size. Would I like a better Nav system? Sure but I am moving away from relying much on in-car Nav systems as they simply do not keep up with what you can get on mobile devices. Adaptive cruise control? Yes, I love that on my Acura, but I lived without it for years. Would I miss built in Pandora/Aha/Bing/etc. LOL!

I looked at the RR and RRS to see what might trickle down but there is nothing that is critical to me.

And if they do come out with a completely new model and I like what they have done, I would not want to get the first model year anyway. I'd want to let it settle for a bit.

So MY14 is looking more like the answer pending a couple of long test drives to confirm my perceptions.

 

[Finlayforprez]

Just to help you out on expectations....you are very unlikely to hear anything from LR about the plans for MY15 by spring or summer. Many of us on the forum waited until late fall of 2013 to find out what they were going to do with the MY14. You'll notice that MY14 LR4 still is not shown on the LR website.

I completely agree. I think the one thing that we have come to realize is that Land Rover is extremely slow and inconsistent about releasing any information. If there are changes in 2015, then I highly doubt we would know much before the start of 2015. Even once the new models are out, who knows when they will updated their US website.