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Land Rover LR3 Lease Questions

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  • 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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