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2022 LR Discovery, Lease or Buy?

Discussion in 'Buying Tips, Advice and Discussion' started by MatthewN, Mar 19, 2021.

  1. MatthewN

    MatthewN New Member

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    Good Afternoon Everyone,

    I expect to take delivery of my 2022 LR Discovery in mid June. Specifically according to the build sheet, the LR is supposed to be built April 16 and delivery on June 11.

    I am going back and forth between leasing or buying it. My main concern is reliability starting in year 5 when the manufacture warranty expires, and with a problematic LR in general. Mileage won't be an issue.

    With the lease (assuming 36 month), I return the car at the end of the term and hopefully no issues during time of ownership. Either way, the manufacture warranty takes care of it (assuming not wear and tear related) and even if the LR experience during the lease term is a disaster, still no headache for me. But I have no equity.

    In order to make the numbers work, I would finance over five (5) years. If no problems with the LR during that first 4 year period, I could purchase an extended warranty before the manufacture warranty is up. If the LR is a disaster, then I am stuck with it "forever" and have to deal with depreciation and if I need to get out of it asap possibly negative equity .

    I had a LR Discovery Sport for a few months without any issues, before deciding that I really wanted the LR Discovery.

    Thoughts and advice are appreciated. -Matt
     
  2. DaytonaRS7

    DaytonaRS7 Full Access Member

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    id want a warranty on any of LR at least as long as there is a loan


    if will be signifcantly cheaper to purchase an extended warranty at time of purchase. The older or more miles at the time of warranty purchase, the more itll be marked up.
     
  3. BigZ

    BigZ Member

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    Just take your money and throw it out the window. Buy a new car if you can pay cash then drive it until there's no warranty. Never lease a 4x4. NEVER. If you talk to your financial advisor I am certain you will get the same advice. Keep in mind, a car, especially new, is an absolute waste of money. Unless you can pay cash and not have it dig a hole into your investment accounts. Buy an older car, get a good extended warranty or plan on fixing it yourself. Save your money!
     

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