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Land Rover LR3 Lease Questions

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  • OK thanks. This begs the question "what is your area?" though buuying a vehicle out of state is very difficult for CA residents.

    Thanks,
  • got the following deal:

    2007 LR3 SE V8 Buckingham Blue with Alpaca interior, Tech, cold and lighting package.
    24 months with 10,500 miles per year
    MSRP is $54,500
    Capped at $49,110
    Montly before TAX $681.95
    $1784 due at signing which includes motor vehicle and doc fees as well as sales tax in NY at 8.375%.
    The money factor is .00106
    resd. 64 lease end value $34,880
    The bank fee and first month is waived

    What do you think is this a good deal
  • Here's the info that you're looking for, maverick8. Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Land Rover LR3 SE V8 with 10,500 miles per year are .00106 and 64%, respectively. The numbers for an otherwise identical 36 month lease are .00195 and 55%. When negotiating your lease on this truck, make sure to take advantage of the $1,730 lease cash that Land Rover is currently providing on it.

    I am not sure what the availability of '07 LR3s is like in your area, but the '08 models have been out there for a while now so I suspect that the supply leftover trucks is getting a little thin.

    Car_man
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  • Here's the information that you're looking for, marcz. According to the latest information that I have seen, Land Rover Capital Group's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Land Rover LR3 V8 HSE with 15,000 miles per year are .00170 and 50%, respectively. When negotiating your lease on this truck, make sure to take advantage of the $2,130 lease cash that Land Rover is providing on it. Good luck in your negotiations.

    Car_man
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  • Hey marcz, I just responded to your earlier post. Please check my last post for the information that you're looking for. Let me know if you have any other questions.

    Car_man
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  • Hi arik5966. The money factor and residual value that you were quoted are right in line with Land Rover Capital Group's current program for this model. This is a good thing because it means that the dealer you are working with is being very straightforward with you about this aspect of your deal.

    Let's take a look at the selling price that you were quoted. According to the latest information that I have seen, Land Rover is currently providing $1,730 lease cash on the 2007 LR3 V8 SE. Plus there is a spread of around $4,800 between its full MSRP and its dealer invoice price. That gives you a total of around $6,500 to play with in your negotiations. You were quoted a discount of around $5,400 on the specific unit that you want. That probably puts you at around $1,100 or so over invoice, which isn't bad. You definitely should stop by the following discussion though 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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  • Car_man:

    Do you have information on Land Rover Capital Group's fourth quarter programs, specifically residual values and money factors on a 2007 LR3 SE V8 at 12 and 15k miles per year? Also, if you have info on any available lease cash that would be very helpful.
  • Hi jeffsauls. Here's the information that you're looking for. Land Rover Capital Group's new fourth quarter buy rate lease money factor and residual value for a 36 month lease of a 2007 Land Rover LR3 SE V8 with 15,000 miles per year are .00167 and 49%, respectively. This truck's 12,000 mile per year residual value is 2% higher. I believe that Land Rover is currently offering $1,295 lease cash and waiving the first month's payment on leases of this model.

    Car_man
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  • Car_Man:

    I am in the market to lease the above in the next 30 days. I was just quoted $922 per month with $2,417 in inception fee's (no down payment) on the above with no special options. 36 months, 15,000 miles. That seems out of wack for a $55,000 truck. What should I expect to lease an '08 HSE for and how can I get the best deal? I am a novice to leasing, and I kinda understand what I've read about residuals and money factors, but...

    can you just tell me a payment and upfront fee's that I should expect to pay for an '08 HSE? I really appreciate your help!! Thank you!
  • bethrbethr Posts: 51
    we had a 2007 hse sticker 56,050- signing 2800 and we pay 559.00 for 24 months including 9% tax
  • Is this for a loaner or a brand new 07?
  • ysautoysauto Posts: 27
    where did you get this deal???
  • ysautoysauto Posts: 27
    where did you get this deal for $559/m???
    wow
  • ysautoysauto Posts: 27
    Any Lease specials in NY area?
  • It is doable with a low mileage lease short term lease on a Left over 2007 LR3 HSE.

    You won't ever hit that on a 2008 LR3 though. There is almost 3,000 dollars of lease cash from Land Rover buying down the lease for 2007 MY LR3s.
  • Greetings trimarc. 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.

    In short, the best way to get a good deal on a lease is to negotiate as low a selling price as possible on the vehicle that you are interested in and then have the dealer that gives you that price calculate its monthly payment using its buy rate lease money factor.

    I would be happy to work up a sample lease payment on the LR3 that you are interested in if you provide me with its full MSRP, approximate selling price, how long you want to lease for, and what mileage allowance you need. You can look up this truck's MSRP and dealer invoice price by visiting the New Vehicle Pricing section of Edmunds.com. You may be able to get an idea of how much you will have to pay for this truck by visiting the "Land Rover LR3 Prices Paid and Buying Experiences" discussion. Let me know what this information is and I'll crunch some numbers for you.

    Car_man
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  • Hi ysauto. Yes, Land Rover is currently running a special lease program on the 2007 and 2008 LR3 in you area. I have not seen any advertised lease payments on the LR3 that would give you an idea of what sort of monthly payment to expect though. I would be happy to work up a sample lease payment on the LR3 that you are interested in for you if you provide me with its full MSRP and its approximate selling price or at least its dealer invoice price. You can find the pricing data by visiting the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • ysautoysauto Posts: 27
    Do you think it is a good deal, or wait till Dec. or later

    2008 Land Rover LR3 SE
    $579 per mo 24 mos
    $3,295.00 down payment
    $595.00 acquisition fee
    $0.00 security deposit due
    10,500 miles per year
    $4,469.00 total due at signing

    MSRP $50,600.00

    Auto, 4WD, 8 cyl, 4 dr, a/c, pwr win/lcks/mir/sts/str/brks, leather heated seats, AM/FM/CD, dual & side airbags, moonroof, traction, cruise, alloys, ABS, alarm, rear wiper, rear defrost, keyless.

    ---------------------------------------------------------------------------------

    '08 LR3: $579 x 24 = $13,896 total pymnts. Inception incl 1st mo pymnt $579, Down pymnt $3295, Acq fee $595, Sec dep $0. MSRP $50,600. Residual $33,396. Stk# 85166. Vin# 8A449243. All lease/prices incl all costs paid by consumer except tax and MV fees. Lessee resp for insurance. Subj to credit appr by prim lender. Severity of credit may effect down pymnt. Lease incl 10.5k miles/yr 25¢ over. Pic for body style only, actual eqpmt may vary. Offers cannot be combined. Residency restrictions may apply. See dealer for details. Not resp for typos. Offer ends 11/30/07. Land Rover Larchmont Lic# 7089260
  • First time poster, I want to lease a 2007 LR3SE with Cold Climate, Headlights, bluetooth and Sirius, for 24 months and 12k per year.
    I have been quoted $4,000 out of pocket, and $640 inclusive of (NJ) taxes per month.
    Is this a good deal?
    Which may be a better dealer in the Philadelphia area, as they had quite an attitude?
    Thanks, because I would like to get back into a Land Rover, having once owned a (trouble free!) Disco and an older (troublesome) RR.
  • I don't know if the dollars and cents for your quote are good or not, but I searched all of the dealers in the Phila area. The only ones I found with out an attitude are the guys in Land Rover West Chester PA. I leased an 07 LR3 HSE and am very happy so far. Feel free to email me off line for my sales persons name. good luck. meilibri@localnet.com
  • vsaxenavsaxena Posts: 201
    I am intrigued by the large depreciation deduction which you can take on vehicles on the class of LR3 if you are a small business owner. However, I prefer not to keep vehicles outside their warranty period and like leases since you do not have any residual value risk.

    LRCapital seems to offer a balloon payment program. Is this structured exactly like a lease in terms of residuals and the interest rates? I presume this will allow me to depreciate the vehicle as if we own it and not just the lease payments.

    Is this program available in all states?
  • My 06 LR3 HSE lease matures in 4 months with Land Rover Capital and I am considering purchasing the vehicle, but my residual is almost $39K and the current market value is considerably less than that. I only have 16K miles on the truck and it has had very few problems.

    Does anyone know if LR Capital will negotiate residual values? The truck is only worth about $33K at the most. I have heard some leasing companies will negotiate residuals. Is this something the dealer would have control over?

    Thanks for any info.
  • ssp1ssp1 Posts: 115
    I have this same question as jjf030. I have a 2006 LR3 SE with all the stuff including navigation etc. My lease matures in about 4 months as well but I have 30K miles on it. Very interested in buying it because i have had no problems. I am guessing that if i look at blue blook retail for 30K miles on an LR3 (that was the lease mileage cap), then that will give me a good idea at lease maturity as to where the sale price should be - and i am thinking that sould iclude a certified warranty or similar (meaning if i use the retail value in blue book as a proxy, that higher price should account for dealer costs to get the vehicle in certified sale condition)

    If someone with good knowledge can respond here that would be great.
  • ssp1ssp1 Posts: 115
    And the follow up question is whom do you deal with on this? the dealer that i leased it from? any dealer? LR Capital? Should i take it to my dealer and see what they can do and if they are not making a deal try another dealer or talk direct with LR Capital?
  • Hi ysauto. I believe that Land Rover's lease program is exactly the same today as it was when you mentioned this advertised payment. The advertisement never mentioned this truck's selling price. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the LR3 that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what this vehicle's selling price is.

    Car_man
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  • Welcome robinakirk. $4,000 is too much money to pay at lease signing. I always advise consumers not to make capitalized cost reductions on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off only paying your truck's first month's payment and Land Rover's $595 acquisition fee at lease signing.

    I would be happy to give you a detailed analysis of this deal, but you never mentioned this truck's selling price or MSRP. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. Let me know what these numbers are and I'll tell you what I think.

    Car_man
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  • Hi jjf030. Your dealer probably does not have the ability to negotiate your truck's purchase option price. Its end of term price is between you and Land Rover Capital. Give them a call and try negotiating with them. If your initial contact at your bank is not willing to lower your vehicle's price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they won't, but you don't have anything to lose by asking.

    Car_man
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  • Hi ssp1. In order to determine whether you should purchase your LR3 at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though its purchase option price is stated on your lease contract, you should place a call directly to Land Rover Capital (there's no need to involve any dealer) that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.

    As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    If your truck's purchase price is less than or in line with its current real world value then you may want to consider buying it. If not, just walk away and lease or purchase a new vehicle.

    Car_man
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  • ysautoysauto Posts: 27
    Thank you, it looks like i am getting an MDX
  • No problem, ysauto. Enjoy your MDX.

    Car_man
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