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Land Rover LR3 Lease Questions

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  • This is for a SE 7 seat with every option but nav. 24 month lease with 65% residual and 10.5k miles. My cap cost price with all reductions in $38,700 down from $51.5k msrp. My contribution including all taxes and fees is $3,000, meaning the dealer and LRA put almost $10k in as lease cash. I plan to pick up tomorrow. I cannot find a better lease deal anywhere near comparable.. I feel pretty confident on this one, but sure there is always a better deal somewhere...
  • h2oleoh2oleo Posts: 6
    My 2002 Freelander developed a coolant leak, so my dealer says I need a new engine. They are also telling me that the Land Rover Assured Extended Warranty (provided by APCO) is not going to cover it. The long and the short of it is that they said they would like to get me a "great deal" on a new LR3. This is what they have offered me:

    2006 LR3 SE V8 with rear seat package/cold climate package/satellite radio
    Lease Terms: 30 month/12K mi
    MSRP: 49700
    Purchase Price: 47,100
    Bank Fee: 595
    Net Cap Cost: 47695
    Money Factor: 0.00093 (This seems good to me)
    Residual Value: 59% (This seems low, but may be appropriate given how late it is in the year)
    Bottom Line: no money down. no trade. 673.81/month.

    They said they are using the 3725 lease cash to pay for the license fees and other fees, and the rest is was taken off the MSRP. It basically sounds like they are not giving me any kind of discount themselves, and only the 3725 from LRNA. My questions are:

    1. Would it be better to apply the entire 3725 lease cash to decrease the net cap cost?
    2. What would be a "reasonable" purchase price to negotiate for the vehicle?
    3. How do I get one of these $1500 rebate certificates?

    I am stuck with this dealership, as it is the only one in San Diego, and my Freelander engine is currently half disassembled in their shop, but they did off me $8000 for tradein from the Freelander, and I'm not sure anyone else would give me that much for it. Still, that should not preclude them from giving me a good deal on the LR3...

    Any thoughts or advice would be greatly appreciated!!!!!
  • I just leased the same vehicle, price, options everything. Here is my deal
    MSRP 49700
    Gross Cap 46986
    Bank Fee 595
    Net Cap 47581
    Adjusted Capital Cost 44790 (includes $2,500 cash plus 1,500 rebate-fees)
    money factor .00199
    residual 69%
    $499.99 plus tax
    I did this deal at the end of December, they were running a deal for $599.00 with no money down on a vehicle more loaded than ours but I could not find any that had all of the options.
  • HI. See may earlier message from Friday on HS 7 V* LR3 lease. I believe you are paying way too much. Between lease cash from LRA and dealer cash, you should at least be able to get $7-$8,000 off MSRP. I recently negotatied two leases for this vehicle ( I went to another dealer when I was not satisfied with the 1st). You should be able to negotiate a capitailized reduction cost (which includes all dealer cash and LRA incentives) around $42,000. If you cannot get with a $1000 of this, then your dealer is holding back. The $3,000+ they said would cover all your taxes and fees is B.S. Sure a portion of it will, but not all. I was given a purchase price of $41,000 for the $49,000 msrp model and $42,500 for the $51,000 msrp model. MY final cap cost, which included a $3,000 contribution from me, was $39,500 (original msrp was $51,400). My 24 month lease price with all taxes and fees is $385.
  • h2oleoh2oleo Posts: 6
    Thanks for both of your replies. It looks like the $599 lease deal in still in effect until 4/3/07. Unfortunately, there are none left with all of those options. One dealer just told me that to honor that deal, they would put me in an SE7 with sat, but no cold climate or Lighting Package, and I'd still pay $599. Unbelievable.

    I plan to try once more to negotiate the price, and if that doesn't work, unfortunately I think I have to go to the BBB for the Freelander issue. The San Diego dealership has truly been a disappointment.
  • the $385 lease sounds to good to be true
  • jacebcjacebc Posts: 4
    I'd love to get the details of the $385 lease too!

    I was quoted $599 for a dealer demo- $0 down, 24 months, 15k miles a year w/ taxes.
  • Hi, I'm the one with the $385 lease deal. Actually, now it's $389 due to changing from Green to Black (which Land Rover charges an additional $400 for).

    So here are the terms:
    MSRP: 51,000 (although window sticker reads 51,400, the $51k number is what the dealer is using)
    Selling price before LRA cash: $46,250
    LRA contribution: 3,725
    My contribution to cap cost reduction: $3,000
    Final cap cost reduction price: $39,725
    Money factor: .00045
    Residual percentage: 67%
    Residual value at lease end: 33,500
    Total monthly lease payment (includes taxes, fees, etc): $389

    When I plug these numbers into the Edmunds lease calculator, it shoiws monthly payment should be even less. Regardless, I could not find any better numbers that come close to this deal (and I looked at Volvo XC90 V8 and Honda Pilot EX).

    Welcome comments. Hopefully you can match this or do better. Good luck
  • Can someone post the rate/residuals for 07 LR3 SE & HSE?
  • jacebcjacebc Posts: 4
    What a deal!!

    This is a 2006? What are the terms and mileage? Where in the heck is this?
    THanks!

    /Jason
  • HI. This is a dealer in the Pittsburgh area. My terms have been posted a couple of times in last few days (just follow lr3 lease questions section between jan 20 and today and you should find them). If you have trouble finding them, let me know. This is a 24 month lease for SE 7 V8 10.5k miles/year. This model is black/black and has msrp of 51,500. Money factor was .00045. Residual % was 65%. My cash ocntribution was $3,000. Total monthly payment with all taxes, fees etc is $389.
  • And yes, this is a 2006 model.
  • jacebcjacebc Posts: 4
    Thanks! I think I need a trip to Pittsburg!
  • tizzletizzle Posts: 8
    Hate to be a bother as you already have proven quite helpful but I was curious as if the vehicle you leased was a demo model. I am being offered essentially the same terms as you but for a demo with around 8000 miles. Thanks.
  • No bother. My model is brand new. I would use the 8,000 miles on your vehicle to negotiate the price/ lease terms further down. A 50,000 msrp SE depreciates almost 20,000 over a 24 month lease on a 10.5k miles/per year lease. You should be able to negotiate at least $5,000 off your final cap cost given the car's mileage, I would think. Good luck!
  • tizzletizzle Posts: 8
    Thank you for the help. I actually sent the dealer your figures and they said they would match. Around how much do you think would be fair to pay? As you can see I am somewhat of a novice. Thanks again.
  • If you mean what price should you pay to purchase outright and/or finance, the purchase price I was offered on a 50,000 SE7 was $41,000. On the 51,400 msrp vehicle I actually ended up leasing, the purchase price offered was 42,500.
  • Correction: Residual percentage is 65% NOT 67%
  • tizzletizzle Posts: 8
    Thanks. I ended up getting a similar deal to yours (with the 65% residual).
  • Great! Hope you're happy with it.
  • Can someone please post exactly how they got the $1500 certificate and how long it took to arrive, and how recently this was? I signed up on landroverusa for a brochure and for specials via email, but didn't see any place for mail offers. We any/all of you existing owners? Thanks for any help!
  • I'm also not having luck getting your deal matched, the last dealer I spoke to said he thought that they probably registered your car as a service loaner to get the additional rebate from LR, I'm getting a sense that these are a lot more priced fixed than other manufacturers...
  • We just leased an LR3 and it took so much work I don't think it was worth it. I had to call over 6 dealers to get one to give me the LR3 @ 1k over invoice minus the $3725 rebate. The biggest problem I came across is some wanted to mark up the MF while others would say there was no rebate? I bought a loaded LR3 with a sticker of $53875 for $45395 with my MF @ buy rate along with no other weird fees. I put down 3k cash and ended up with a payment of 466/mo incl taxes. This is on a 24month 12k miles/yr lease We pick up our car on Monday. :shades:
  • For those that have used the LR $1500 certificate on a lease:

    At what point did you present the $1500 dollar certificate to the dealer ?

    Will they accept it as part of your out of pocket cost at signing ?

    Thanks.
  • burp43burp43 Posts: 1
    Hello all! Quick question. Is the $599 lease offer on the 2006 LR3's a good deal? MSRP is $51000, $599/mo for 30 months, 15,000 mi/year, and no drive off costs. Dealer has a couple left and REALLY wants me to get one.
    Thanks!
  • Hi!

    I've been looking for an LR3 lease and have a few quotes that are very different. Please let me know if this is a good deal and if I can negotiate the MSRP down. I don't know what the invoice price is for this.

    '06 LR3 V8 with blue tooth, climate control, 3rd row seating

    MSRP: $48,700
    30 month lease
    Money factor: .00133
    Residual: 60%
    lease cash: $3725
    addt'l discount: $4,000 b/c its used
    adj cap cost: $41,570
    monthly payment with taxes, no money down: $583
    if we put $1,000 down it is $546

    I got another quote from a different dealer for identical vehicles that had a monthly payment of $836 with tax. The residual ws 52% and MF .00281. He said he was selling to me for $500 over invoice ($48,367).

    Should I be happy with the first one? What sort of room do I have to negotiate between invoice and MSRP?

    Thanks for any help you can provide.
  • I don't know how good deal #1 is, but I can tell you dealer #2 has something wrong. Either they're lying or it's a much better equipped vehicle, because if $48700 is MSRP, $48367 (or $48367-$500 if that's what you meant) is WAY over invoice. I don't recall 06 prices, but to give you an idea of the msrp/invoice gap:

    2007 LR3 V8 SE_____________$48235 $43894
    bluetooth/sirius package_______$800 $728
    total________________________$49750 $45337

    Also dealer #2 is giving you the money factor for the '07 and I have no idea where 52% residual came from.

    Deal with dealer #1, dude.
  • fyi
    leased 06 lr3 hse fully equipped all listed brochure options with tax included 30 mo 10,500 mi per yr $665.00/ mo nothing down
    msrp $56,700
    love the car, some quirks but nothings wrong yet at 1500 mi
    jp
  • mlmcmlmc Posts: 1
    Hi,

    I would like to know what exact model of LR3 you leased with this quote? Was it a 2006 or 2007 model?

    Thanks for your response,
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