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Land Rover LR3 Lease Questions

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  • Vehicle has roughly 6,000 miles on it. Can anyone confirm what the rebates or incentives are on these. I am being offered 8500 under msrp. I still think I can get more. Not sure if the rebate on v8 se's is 5k or 7k. Thanks
  • I just drove an '06 LR3 with satellite radio and was offered the following terms:

    MSRP: $54,100
    Sales Price: $51,210
    Cash Down: $1,310
    Factor: .0016
    Residual: 64%
    Payment: $691.88

    Is this a good deal or should they be coming down further on the sales price?
  • How many months & miles per year on those lease terms?
  • 12k miles per year on a 30 month lease.
  • Found one of few 2006 V6 SE7 left with premium and cold package and 3rd row...getting a good price:

    MSRP $45,500

    Sale price $35,800

    Money factor: 0.00374

    Res. value: $26,845 (59%)

    I got 30 months lease with 12,000 miles for $532.79...I think this is too high as I am getting "hit" with crazy money factor...my credit is 734...dealer told me that this deal is contigent of me having great credit...AM I MISSING SOMETHING HERE???
  • What lady is saying is that since they took all the cash that Landrover offers on the car, she has to give me a regular "money factor" of 0.00374...and it can't go any lower...???

    Since I plan on purchasing this truck at the end of the lease, I don't think I care that much - right????

    This is the last 2006 V 6 in Tri State area, nobody has them anyomer and I don't wanna miss out...what da ya think???
  • Hello elbo1. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You're right, $899 a month is way too much money to pay for this truck. Even if that is what its monthly payment should be, you can get a lot of equivalent vehicles, like the Mercedes-Benz M-Class for hundreds of dollars a month less than that. I would be happy to use Land Rover's actual lease program to estimate what this truck's actual lease payment should be right now, but in order for me to do so I need you to provide me with this truck's full MSRP and selling price.

    Car_man
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  • Hi Hector. You're right to be concerned about the length of this lease. I personally feel as though five years is way too long to lease any vehicle for. A lot can happen during the course of five years to make you want to get out of your lease early and it is usually very expensive to do so. For instance, your job situation could change causing you to want a more or less expensive vehicle. Or your commute could change causing you to go way over your vehicle's mileage allowance. Or you could just plain get sick of your vehicle. I always advise consumers to lease for more like 36 to 39 months. Don't listen to anyone who says that you can get out of your current lease several years early without paying a penalty. It is very unlikely that this is the case. It is in the salesperson's best interest to make you think this so that they can seal the deal.

    Car_man
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  • Congratulations on your new truck, ehnj. Thanks for taking the time to stop back and share the details of your deal with everyone. Enjoy!

    Car_man
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  • Hi sparch. Land Rover is providing quite a bit of dealer cash on leftover 2006 LR3s right now. Unfortunately, I do not believe that this dealer cash is compatible with this truck's special lease program. One should expect to get an additional discount on a demo vehicle over what they would normally have to pay to pay for a vehicle, however 200 miles really is not a big deal. It's worth a shot, but I doubt that the dealer will be willing to provide you with much of an additional discount for this little mileage. A base 2006 Land Rover LR3 HSE has a spread of around $4,770 between its full MSRP and dealer invoice price. You were quoted a discount of only $2,350 on this truck. Given the fact that the 2007 LR3s are now available, I suspect that you should be able to get a bigger discount than this. I would shoot for another $1,000 to $2,000 off of this truck's price if I was in the market for it.

    Car_man
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  • Hi Mark. Don't worry about posting your message again. At the time I had not seen this truck's lease program, but now I have. Land Rover Capital Group's current 36 month buy rate lease money factor and residual value for a lease of a 2007 Land Rover LR3 HSE with 15,000 miles per year are .00343 and 55%, respectively. The numbers for an otherwise identical 48 month lease are .00349 and 54%, respectively. Edmunds.com now has the pricing data that you are interested in. Click on the following link to check it out: Edmunds.com - 2007 Land Rover Pricing Page. Let me know if you have any other questions.

    Car_man
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  • Thanks for the info, socaljagrover. I'm not surprised that there are independent banks out there that have better lease programs than Land Rover Capital Group does right now. LRCG's current program for 2007 Land Rovers is not very attractive.

    Car_man
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  • Hi audiavant1. I assume that the demo LR3 that you are interested in is a 2006 model. If so, Land Rover has cash incentives on it right now. Unfortunately, I am only aware of a $1,000 cash incentive on leases of this truck. The $6,000 dealer cash that is available on leftover 2006 LR3s is not compatible with Land Rover's special lease program. An $8,500 discount is a good price for a lease of a demo with 6,000 miles on it through Land Rover Capital Group, but if I was financing it, paying cash for it, or leasing it through an independent bank I would want a larger discount than this.

    Car_man
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  • Hi granttn. A base 2006 Land Rover LR3 HSE has a spread of around $4,770 between its full MSRP and dealer invoice price. You were quoted a discount of $2,890 on the specific truck that you are interested in. I am not intimately familiar with what the market is like for this truck right now, but given the fact that they 2007 models have started to arrive at dealers I believe that there may still be some room to play there. It wouldn't hurt to try to haggle a little more with this dealership or to comparison shop with another dealer or two. Also, make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Land Rover LR3: Prices Paid & Buying Experiences".

    Car_man
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    Prices Paid Forum
  • Car Man,

    Thank you for your response. Can you give me some idea of what you think about these numbers - i.e. how do the money factor and residual value compare with the 2006 lease numbers?

    Mark
  • Hi Car_man, do you know the tier 0 (highest fico) money factor and residual for a 2006 LR3 V8 SE with 12k for 30 months? And how it differs from the "special lease program"?

    Thanks
  • Nikolaya:
    What dealership did you get this deal from? I'm having a tough time getting this low of a price for a lease. Please help!

    Thanks!
  • I got mine from dealership in NJ...they have no more left...but I know they have a black V6 in Paterson NJ and also they have V6 in Woodbridge NJ...ALL DEALERSHIPS SHOULD BE ABLE TO HAVE ACCESS TO THE SAME REBATES...
  • Dear Car_Man:
    Thanks for all the info on this website. I have been negotiating to lease a new '06 LR3 V8 SE loaded with a cooler box, cold climate, heavy duty package, lighting package, rear parking, navagation, rear seats with climate package, bluetooth, satellite and lojack. The MSRP is $55,500 and the invoice is $50,840.
    I am being offered the following:

    Sales Price: $51,275
    Cash Decapitalization: $5,000 (From a trade in)
    Net CAP Cost: $46,275
    Residual: $35,701
    Payment: $483 + tax= $523 a month
    30 month lease
    10,500 miles ($20 a month more for 12,000 miles)
    Money Factor: .0016
    Residual: 65%
    $0 Security Depsoit and $1500 off the total of 1st month's payment, doc fee & licensing.

    Your thoughts please?
  • maytalmaytal Posts: 12
    Hi,

    I am being offered the following lease in Los Angeles for a brand new '06 LR3 SE V8 with 3rd row seat and satellite radio and 12000 on a 30 month lease.

    The sticker price is $48,400 and I am being offered a lease for $399 including taxes, $370 before taxes and $4500 down payment out the door.

    I know the residual is 67% and I think the sticker price on the vehicle he's giving me is between $43 - $44K.

    I feel like this is a good deal, since my goal was to reduce the monthly payment and I think $370 is a good price.

    I would appreciate any advice you have to offer.
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