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Land Rover LR3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks for the additional information, bethr. When you were told that there are no incentives on this truck, the dealer was either confused or lying to you. Land Rover is currently providing $1,730 lease cash on the 2007 LR3 V8 SE. This means that a selling price that's slightly over dealer invoice is really more like $2,000 over invoice once the lease cash is taken into account. There's still some room to play with there, so it wouldn't hurt to try to get the dealer to come down a little more or to comparison shop a little bit. You don't have anything to lose by trying. Also, make sure that the dealer you are working with uses Land Rover Capital Group's current 24 month buy rate lease money factor of .00188 to calculate your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chrislr3. You still haven't told me what this truck's full MSRP is. This number will show me how much of a discount you are being given on this truck. By looking at the selling price that you were quoted it does not appear as though you are being given much of one. If that is the case, you should comparison shop a little bit to see if you can get a better deal.

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  • bethrbethr Posts: 51
    SO THE 666.00 A MONTH FOR 24 MONTHS AND 3900 DOWN SHOULD COME DOWN- IT IS THROUGH LANDROVER CAPITAL- MY CONCERN I HAVE 3 MONTHS LEFT ON A LEASE AND THEY WON'T PAY IT- SHOULD I WAIT UNTIL THE LEASE IS UP OR IS THIS TOO GOOD TO BE TRUE- IT IS ON A 57,000 HSE-
  • british_roverbritish_rover Posts: 8,476
    Ahhh now wait we can't use that 1,730 lease cash to reduce the price of the car.

    We can use it as cap cost reduction or to cover inception costs.
  • kyfdxkyfdx Posts: 27,643
    The effect is the same... If you reduce the CAP cost by $1730, it is no different than reducing the selling price by the same amount.. right?

    regards,
    kyfdx

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  • british_roverbritish_rover Posts: 8,476
    No, not really as CAP cost reduction is taxed and when you reduce the selling price you pay no tax on it.

    Depending on your state it will a different effect on the lease payment.

    In this example for my state that makes a $103.80 difference with 6% sales tax over the length of the lease. Depending how the lease is structured that might increase every payment by a certain amount or just increase the amount due at inception.
  • kyfdxkyfdx Posts: 27,643
    Gotcha... okay.. almost the same amount.. ;)

    Sort of like a rebate, then..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • british_roverbritish_rover Posts: 8,476
    Basicly yes that is what lease cash is. It is an important differance because you have those accounting type people that will work a lease backwards trying to account for every penny in it and that much money would be more then enough to kill a deal for them.

    I have told the story of the guy who killed a deal and threatened to sue us and Land Rover for charging sales tax on the property tax portion of the lease payment that Land Rover collects. Even after I sent him a copy of the CT law that says we are required to tax the property portion of the lease payment he was still not happy.

    This was only 6% of $82.00 a month on a 30 month lease for a $82,000 Range Rover. It was less then one percent of the monthly lease payment and he was SCREAMING at me over the phone about how what we are doing is wrong and illegal and we will be getting a letter from his lawyer. :confuse:

    Never got that letter by the way.
  • notanothernotanother Posts: 5
    If I have read the recent posts correctly, there is $1730 lease cash available on '07 LR3 V8 SE's and a money factor of .00188. I am looking for a 24 month lease, 24000 miles. Can you tell me what the residual percentage should be on the base model? Also, how much longer is the $1730 being offered? I am trying to structure an offer and would appreciate this and any other information that might be helpful. Thanks
  • notanothernotanother Posts: 5
    Got a message from the sales guy we leased my wife's last car from. How does this sound: 2007 V8 SE with Tec package, 24 months, 24000 miles, $2000 down, payment of $537 + tax. He didn't leave any other details and wasn't there when I called back.

    Anybody got specifics on a recent deal in Orange County, California?
  • bethrbethr Posts: 51
    what was the sticker on this car? how many months left do you have on your lease?
  • chrislr3chrislr3 Posts: 8
    Sorry carman my mistake. the MSRP is 56,500
  • bethrbethr Posts: 51
    what is your payment
  • sparchsparch Posts: 3
    Hi Car_man,

    I just got my wife a 2007 LR3 HSE with luxury package, sat radio and free mats. We leased it for 24 months/15K miles per year, $3000 total out of pocket. The monthly payment after tax is approximately $741. The 1st months payment was included, and we used the $1500 Land Rover USA coupon to supplement the $3K out of pocket, which means we only gave the dealer $1500 cash. I think we did ok, however I wanted to get your opinion on this deal. Let me know.
  • bethrbethr Posts: 51
    what was the sticker? did you have something left on your lease?
  • notanothernotanother Posts: 5
    $52,450 sticker. Nothing left on lease of current car.
  • notanothernotanother Posts: 5
    How did you get the Land Rover USA $1500 coupon?
  • bethrbethr Posts: 51
    one more question- what did he sell it to you for-
  • bethrbethr Posts: 51
    selling price 52,800 sticker 56,100- 24 months x 664.00 3600 down- i also have 2 months left on my lease- what should we do-
  • chrislr3chrislr3 Posts: 8
    payment 950
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