2021 land rover discovery sport lease deals

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This expense is based on the revised EPA mileage ratings, assuming consumption consists of 45% highway and 55% city driving and that the vehicle is equipped with the transmission that is standard equipment for that vehicle. Note: the state sales/use tax rate that we use includes the average local and county taxes assessed in that state. These taxes and fees are often based on a percentage of the purchase price, and generally decrease as the vehicle ages and loses its value.

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This consists of the base sales (or use) taxes, license and registration fees in your state, and gas guzzler tax if applicable. Note: Even if you do not finance your vehicle, the inclusion of financing cost in determining True Cost to Own ® is still appropriate because it reflects the estimated 'opportunity cost' (i.e., the amount you may earn) if you invest the Purchase Price instead of using it to purchase the vehicle. The interest rate used is the prevailing rate that banks and other direct automotive lenders are currently charging consumers in your geographic region who have above average credit scores. This is the interest expense on a loan in the amount of the Total Cash Price, assuming a 10% down payment and a loan term of 60 months. Factors that will affect your rate include your age, marital status, credit history, driving record, and the garaging address of your vehicle. While this information is specific to vehicle make, model, model year and body type, your personal information is not taken into consideration and could greatly alter the actual premium quoted by an insurer.

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The premium has been determined based on annual premium data for defined driver profiles and coverages (liability, comprehensive and collision) from a major national insurer. This is the estimated average annual insurance premium in your state. We estimate the resale value assuming the vehicle will be in 'clean' condition, will be driven 15,000 miles per year, and will be sold to a private party. The purchase price employed is the vehicle's Total Cash Price, minus any taxes and fees included in that amount. This is the amount by which the value of a vehicle declines from its purchase price to its estimated resale value.

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(However, we do not account for other types of cash rebates or incentives because of the variability of those offers and their eligibility requirements.) For used vehicles, the Total Cash Price shown is the sum of the vehicle's Private Party TMV ® price in 'clean' condition plus typically equipped options, and base tax and fees assessed by your state. Explanation of True Cost to Own ® Terms Total Cash Priceįor new vehicles, the Total Cash Price displayed is the vehicle's True Market Value ® (TMV ®) price plus typically equipped options, destination charge, base tax and fees assessed by your state, and, if applicable, gas guzzler tax less any widely available manufacturer-to-customer cash rebates. We also take into account any applicable federal tax credit. Using proprietary formulas, we calculate the five-year costs for the seven cost categories that make up the TCO ® (depreciation, insurance, financing, taxes & fees, fuel, maintenance and repairs). You are making a 10% down payment on the vehicle at purchase.You have an above-average credit rating for the purpose of determining your finance rate.You are financing the vehicle using traditional financing, not lease financing.Ownership expenses are estimated for a five-year period.The True Cost to Own ® calculations use the following set of assumptions: Note that TCO ® is a comparative tool, not a predictive tool - your actual five-year cost of owning a particular vehicle will vary depending on your personal circumstances, such as your driving history and the number of miles you drive. For a used vehicle, we calculate the years the vehicle has been driven using the nominal difference between the current calendar year and the vehicle's model year, and assume that it was driven 15,000 miles during each of those years.

In order to estimate certain mileage-dependent costs, we assume that vehicles will be driven 15,000 miles per year. The components of TCO ® are depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs and any federal tax credit that may be available.