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Land Rover LR3 Lease Questions

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  • 2006 lr3 hse w/ luxury package, sirius radio, & heavy duty package, I don't think there are any other options available
    the car was leased in ny (LI) on the day before thanksgiving
    I worked them over by getting comparitive quotes from other dealers and going back and forth- you can lie a little about each quote as they get lower and lower until you get the dealer down to the lowest price, this is the best way to negotiate a deal
    good luck
    you will like the vehicle
  • Hi 1stlexus. Yes, Land Rovver has some fairly significant incentives available on leftover 2006 LR3s right now. The $6,000 dealer cash and three thousand and change lease cash that have been mentioned in this discussion are not compatible with each other, but you should be able to combine them with the $1,500 direct mail certificate.

    The '06 LR3's lease program varies by trim level. I would be happy to give you an idea of what it is like right now if you tell me exactly which model you want.

    Car_man
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  • Car_man

    I am planning to go look at LR3s this weekend with the intention of leasing. The place I am looking is advertising:

    LR3 SE7 with Satellite Radio
    10.5K/24 mo
    $4000 down
    $399/mo.

    Is this a good deal?

    Also, how much is it reasonable to expect a dealer to discount IN ADDITION to the $3725 plus my $1500 certificate? My understanding is that there is about a $4000 difference between invoice and MSRP that the dealer should have to work with. Any help would be appreciated!
  • Hey lsleelee. Here's the information that you're looking for. 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 SE with 12,000 miles per year are .00281 and 57%, respectively. The numbers for an otherwise identical lease of a 2007 LR3 V8 HSE are .00279 and 56%. I suspect that there is a maximum amount that Land Rover dealers are allowed to mark LRCG's money factors up, but I don't know what the limit is. Now that you know what these truck's buy rates are, there's a good chance that you will be able to convince a dealer to lease you one without any markup.

    Car_man
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  • pollopollo Posts: 1
    Hi Everybody,

    I'm interested to lease a LR3SE 2006. Can anybody explain me what exactly the LRA means and why is always equal to $3725? And also who is offering th $1500 certificate? I have not seen this discount in any special.

    Thanks for all your help,
  • After going in to the West Palm Beach Rover dealership, they mentioned in a conversation that they could lease 05's that already had 10-15k miles on them for $2000 down and $360/mo out the door (because of the resdiduals being lower already). If I did a 24mo lease w/ 1000 miles/mo, I would still have the warranty for the entire term. Is this a bad idea for any reason? :confuse:
  • Hi Car_man

    I am looking to lease a 2006 LR3 SE V8 7 passenger.

    The advertised price is $44,900 (service loaner).
    Has Nav system, Cold Climate pkg., Towing pkg. Has 6100 miles.

    I want to do a 36 month lease 15K miles/yr. What are the numbers I should expect (without the $3,725 and the $1,500 - I have a refer a friend $1,500 rebate) for MF and residual, as well as Adj. Cap. Cost.

    Can I still use the $3,725 as this is a service loaner or should I expect to try and discount the truck for the miles that are on it from this past year?

    Any suggestions to get the best deal possible?

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi vidaman. There's nothing wrong with leasing used vehicles, other than the fact that they often aren't as much less expensive than new vehicles as one would think. If Land Rover is running a special lease program on 2005 Certified Pre-Owned LR3s that make them significantly less expensive to lease than a similar 2006 or 2007 model would be, go for it. Just make sure to compare the payment to the used truck that you are considering to the payment for a similar new one before committing to anything.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dmeads. Land Rover Capital Group's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the 2007 LR3 SE V8 7 Passenger are .00281 and 55%, respectively. Your capitalized cost for your lease will be whatever selling price you are able to negotiate minus any available cash incentives and minus any sort of down payment you choose to make (ideally this should be zero). So if you were to use the advertised price as your selling price, this truck's capitalized cost would be $44,900 - $3,725 - $1,500 = $39,675. As long as this vehicle was never titled and is still technically considered to be a new vehicle, which service loaners usually are, it would qualify for any of Land Rover's new vehicle incentives. Make sure that you are getting an additional discount for the miles that this truck has on it. I personally usually find that dealers are not willing to discount demo vehicles enough for me to justify purchasing one over an equivalent brand new vehicle.

    Car_man
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  • Car_Man: Could you please provide the MF and residual on the 2007 LR3 V6. Assuming 15,000 miles annually and a 36 month therm. Thank you.
  • h2oleoh2oleo Posts: 6
    Since I know I got a lot of info from this site, I just wanted to contribute info about the deal I finally got at Land Rover Mission Viejo:

    2006 SE with rear seat package and satellite radio and added center console cooler box
    MSRP: 48,600
    Dealer Discount: 1900
    LRNA Lease Cash: 3750
    Customer Loyalty Rebate: 1500
    Net Cap Cost: 41,400
    Money Factor: .00045
    Residual Value based on 24mo/15,000: 62%
    I put down only 1st month's lease payment plus DMV/bank fees: 1400
    Monthly payment: $546

    All in all, not a bad deal. They still have a couple if anyone is interested and lives in Southern California. I would just caution you to double check all their numbers before signing your contract, as they were not all that organized when it came to explaining the numbers. Other than that, they have been very helpful. Hope this helps someone.
  • chrislr3chrislr3 Posts: 8
    Hello Car Man
    I am looking at a 2006 Lr3 HSE loaded with everything including Heavy duty package. MSRP is 56,875. They will discount it to 50,725 including the 3650 lease cash. The term is 24 months, 19500 miles per year. Residual is at 56%. zero down. the payment is 898.77 including our 9% PA tax. Is this a decent deal? Thanks in advance.
  • ysautoysauto Posts: 27
    I wanted to find out if there are any good deals on the 2007 models in and around NYC area.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, amadeus78. 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 V6 SE 7 Passenger with 15,000 miles per year are .00227 and 51%, respectively. When negotiating your deal on this truck, keep in mind that Land Rover is providing $595 lease cash and waiving the first month's payment on leases of it right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new truck, h2oleo. Thanks for taking the time to share the details of your deal with everyone. Enjoy!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello chrislr3. After backing out the lease cash that you mentioned, you are essentially getting a $2,500 dealer discount on this truck. A loaded 2006 Land Rover LR3 HSE has a spread of a little over $5,000 between its full MSRP and its dealer invoice price. If I was personally in the market for a leftover '06 LR3, I would want a larger dealer discount than $2,500. You may want to try to shop around or haggle with this dealer a little more.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ysauto. Land Rover is providing special lease money factors and lease cash on the 2007 LR3 right now. If you describe which model you want and tell me how long you want to lease it for and what mileage allowance you need I would be happy to give you an idea of what the lease program is currently like for the truck that you are interested in.

    Car_man
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  • Hey there! Sorry to butt in! I've been waiting for someone to start talking about the 2007 LR3 leases! :) This is the car I REALLY want.... but I'm not sure I can afford it. That's why I've been looking at the BMW X3 & maybe even the Acura RDX. HOWEVER, if there a special deal going on with LR.. I'd love to jump on it! What could I expect to pay for an V6 LR3 with Navigation for 36mos 12k mi/yr?

    Thanks in advance!

    SUV CURIOUS :P
  • chriscuschriscus Posts: 1
    Curious as well about a 36 month lease on an average lr3 in so cal. Thanks...
  • ravens1ravens1 Posts: 1
    Wanted payments around $500, so I am putting down taxes and tags plus another $2000 or so. This is on a loaded (read cold climate and sat.) '06 HSE demo with 2k miles. Still room to negotiate - thoughts? (Yes - the money factor equates to .7%).

    Money Factor .00003
    Residual 57%
    Selling Price $49157.00 (MSRP $56,157)
    Customer Rebate $4780
    Sales Tax $2457
    Tags $268
    Money down $4500
    Payment at 24 mos 15k a year = $510.86
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