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Land Rover LR3 Lease Questions

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Comments

  • bethrbethr Posts: 51
    it was in alexandria virginia- i looked in texas they did not have that deal- the best deal for an hse with 3300 down was 605.00 a month including 9% tax- so that would be around 740 a month with nothing down- including first months payment was on landrover- 24 months 12,000 miles-
  • timslr2timslr2 Posts: 11
    It was a dealer only special. Land Rover really had nothing to do with it.

    That special is over, but they are now selling all there 07 LR3s at 6000 (yes, six thousand) below invoice.

    It is Land Rover Alexandria Virginia if you are interested.
  • khanzhkhanzh Posts: 13
    think i'll contact them tomorrow. I asked around in Dallas today. got rates that are not attractive at all. one tried to lease a demo to me for 1100 per month.

    anyone else buying in dallas?
  • bodidbodid Posts: 87
    They're giving lease money to the tune of 2325. on 07' LR3's. I'm looking at 07' loaners the dealers are trying to move. Here's a quote, no negotiation (yet);

    07' LR3 SE with approx. 5K miles
    -Lighting Package
    -Cold Climate
    -Blue Tooth
    -Sat. Radio

    MSRP-54,500
    Sell--48,500

    24 months, 15K miles...583/mo.

    I know I can do better than that, but has anyone gone the loaner route? What numbers below invoice/MSRP are you getting?

    Bo
  • anyone receive any tranferable coupon re: lr3's or range rovers? i will pay $$$ for them
  • bodidbodid Posts: 87
    Car-Man,

    I think I've narrowed my needs down to the LR3. I need the third row option (very spacious), and I need a vehicle that can just about get me through any situation. (I only have need for one car as I'm the only driver). I'm looking at LR3 SE V8 dealer loaners with about 5K miles I know Land Rover is giving lease money, but are there any other incentives I should know about?

    I need numbers (mf/residuals) for an 07' LR3 V8 SE in New York
    -18K miles/yr.
    -24 month lease

    Thanks,

    Bo
  • This sounds like a great deal. Where did you find this? Can you give me the dealer name/details?
  • I can only tell you that I leased an 07 Loaner with 1200 miles. No money down.( just inceptions- first month payment, tags, bank fee) ($1900 dollars) 24 months, 18K miles, fully loaded. Car list was 56.7K and leased at $48,000..Price was 792 per month.

    SE is less and apparently leased better, however, I just wanted to give you something to compare.

    Leased in NJ in May.

    Good Luch
  • bethrbethr Posts: 51
    baton rouge la-
  • bodidbodid Posts: 87
    Just got info from the biggest US Land Rover dealer that LR is now giving dicounts of 6K on the 07' LR3 SE, and 7K on 07 LR3 HSE Loaners. Combined with lease money of 2325. this becomes a super deal. Loaners must be in 'loaner mode' for 120 days. At this point, Land Rover will compensate the dealer for being out of commision, so the dealer is still making money on the loaners. They will sell loaners at invoice or less, so don't believe it if the dealer says 'we're losing money on the deal'; they're not.

    I offered 10K off on an 07' loaner SE and the two salesmen I talked to didn't flinch, and you can get more off the HSE.

    Bo
  • bethrbethr Posts: 51
    that is great- what is the payment
  • mcgdocmcgdoc Posts: 4
    I'm looking for MF and residual on 24 and 36 month lease with 15K per year on SE V8 and HSE.

    Thanks!
  • mcgdocmcgdoc Posts: 4
    What is a "lease money"? How do one gets it? Where was this deal listed?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new LR3, jwgmd. Getting a deal that other dealers in your area are not willing to match is always a good sign that you're getting a pretty good deal. Make sure to stop by the new Edmunds.com Dealer Ratings & Reviews section of this site to share your thoughts on your recent sales experience with everyone.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Bo. Land Rover is currently providing $1,730 lease cash on the 2007 LR3 V8 SE. I am not aware of any other cash incentives on leases of this truck right now, other than the coupons that you have seen mentioned by others in this discussion. As far as its lease program goes, Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of an '07 LR3 V8 SE with 18,000 miles per year are .00106 and 59%, respectively.

    If you decide not to lease, but to pay cash for or finance this truck through in independent bank, you can take advantage of the $6,000 dealer cash that Land Rover is currently providing on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here is the information that you're looking for, mcgdoc. Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Land Rover SE V8 with 15,000 miles per year are .00106 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00195 and 52%.

    If you were to lease a 2007 Land Rover LR3 V8 HSE with 15,000 miles per year for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00007 and 59%. The numbers for an otherwise identical 39 month lease are .00170 and 50%.

    When negotiating the capitalized cost for a lease of these trucks, make sure to take advantage of the $1,730 lease cash that Land Rover is providing on LR3 V8 SE and the $2,130 lease cash that is available on on LR3 V8 HSE models. This cash will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mcgdoc. I believe that the "lease money" that you are referring to is a special cash incentive that Land Rover is providing on leases of the LR3. If they know about it, consumers can use this cash to negotiate a low capitalized cost on the LR3 that they are interested in leasing. Land Rover is currently providing $1,730 lease cash on the '07 LR3 V8 SE and $2,130 lease cash on the LR3 V8 HSE. On LR3 V6 models, it is providing $595 lease cash and it is waiving the first month's lease payment.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car Man, can you give me an idea of Aug lease residuals and MF: 24 & 36 months, 10k miles on LR3 SE? Also, is there any 07 stock around in CA? .... Still haven't into negotiation yet (vacation etc.).
    Thanks .... N
  • Car_man, do the numbers for Mf and residuals in your mail -dated July 30th- stay much the same for Aug? or are you aware of any big changes?

    Thanks,
    Maverick8
  • cboy3cboy3 Posts: 5
    Any help appreciated on this. Considering a deal for 2007 LR3 HSE and need to decide today. It includes:
    - Lux package
    - Sat radio
    - Trailer hitch
    - Cross bars
    - floor lining for rear cargo
    Terms:
    - 36 months
    - 12K miles
    - $850/month including tax (CT at 6%)
    - Residual value used 51%
    - Money factor .0027
    - Total price around $49,500 but think that they are moving it around to make payment come out to $850. The other factors are fixed as I have them here.

    Questions:
    - Good deal?
    - I know a leasing specialist who thinks it crazy not to go for 2008 now, thinking that you get higher residual value that will offset higher cost and then in 3 years the 2007 will be a 4 yr old vs the 2008 is still a 3 year old car. Seems to me that price and residual value (assume same MF) can cure this difference. Any thoughts on leasing 2007 today vs. 2008?

    Help much appreciated...trying to make a decision soon and looking forward to getting into my LR3. Thanks, Chris
  • british_roverbritish_rover Posts: 8,476
    Your leasing specialist doesn't know what they are talking about.

    Land Rover has special lease deals on the remaining 2007 MY LR3s to clear out inventory. The 2008 MY LR3 does have a higher residual value but the 2007 MY LR3 has a money factor that is significantly less plus Land Rover has a couple of thousand dollars in lease cash on 2007 LR3s.

    Yu already have a price well below invoice, which is around 51,500 on that car, so you aren't going to get any better deal.

    A similar 2008 would probably lease at over 1,000 dollars a month.
  • cboy3cboy3 Posts: 5
    Thanks for the quick response. Very helpful (besides that its what I wanted to hear). I suspected that the leasing specialist is really looking out for the residual value that he might inherit, and so it is good to hear another voice suggest that his view is skewed.

    Thanks again
  • marczmarcz Posts: 17
    Could someone indicate the current Land Rover money factor and residual value on a 2007 LR3 HSE, for a 36-month lease with 15,000 miles per year? Thanks.
  • Hi folks, anyone have a view on stock levels? they seem to all over the show in CA. Some dealers listing 20+, others only having the odd one left. I am wondering, for those with significant stock left, what will they do to move them before everyone else is selling 08's? ;)

    Any thoughts :confuse:
  • Is there any way in which a comparable MF to the Land Rover Capital promo for new 07's can be matched on loaner 07s? A heavily discounted 07 V8 SE looks great until you realize the new one has a great Residual/MF over 24 Mths.

    Thanks :)
  • cboy3cboy3 Posts: 5
    Can't give you the number for 15K. For 12K it is 51% offered by dealer through America Credit. The ALG number is 44% for this vehicle (36 months, 12K), so dealers are goosing the number up to lower payments but your car could be under water when lease is up (if it matters to you). Just got a HSE loaded with trailer hitch, cross bars and rubber mats (no dvd) for $49,500 from invoice of $51,800 and MSRP of about $55,500 to get payments ~$800 before tax.
  • british_roverbritish_rover Posts: 8,476
    The programs on new LR3s are the exact same as the programs on loaners. The only catch on the loaners is that you have to pay for however many miles they already have at 15 or 20 cents a mile. A typical loaner is going to have between 5,000 and 6,000 miles so you have to pay for those miles either up front or by building them into the lease payment.
  • Cool. So correct me if I am wrong, but a dealer that is willing to discount a loaner with say 5k miles om it can offer .00106 and 64% residual over 24Mths @ 10.5k per annum but they have to add approx. $1200 (6000 x $0.2) to Cap Cost for the existing mileage?

    I was under the impression that most dealers 'sold' their loaners to their service dept. and so could not lease them on same LR Cap program as new?? guess I have been misinformed.

    Thanks for clarification, even though I consider myself far from stupid, the options still confuse.
  • british_roverbritish_rover Posts: 8,476
    It depends on what kind of service loaner program that the dealership has with Land Rover. Most dealers in our area do not register their cars but just put them out on dealer plates.
  • marczmarcz Posts: 17
    Thanks cboy3. Car Man, do you have the current Land Rover Capital Group MF and residual for 36 months and 15K miles per year on the 2007 HSE? I appreciate your help.
This discussion has been closed.