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Land Rover LR3 Lease Questions

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  • Hi shodorov. I believe that you are being told the truth. Land Rover's normal dealer cash incentives cannot be used in conjunction with its special lease program. Land Rover is providing a $700 cash incentive for leases through Land Rover Capital Group right now though.

    Car_man
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  • bmk007bmk007 Posts: 27
    hi congrats on your LR3 deal. If you don't mind me asking what kind of payment and term did you get on your lease?

    thanks.
  • I hate to tell you this but for the benefit of others on the forum here goes: I worked back the 485 number with the other numbers you mentioned in your otiginal post - and it looks like you did not get a 5k AND a 4.4k discount - but just a 4.4k discount. with both discount your lease payment would be in the mid/low 300's

    Check your contract again. the cap cost should be in there. if it is indeed in the 38k range you need to talk to the dealer.
  • In order to get the 5k rebate you must use the Land Rover standard lease program. The standard lease programs have much higher money factors and lower residuals but because of the 5k rebate it is actually cheaper to go that route. We have been using this leasing strategy ever since the 5k rebates came out. By doing this you can actually take 5k off the car and then also use the 700 rebate from land towars cap cost reduction. This works out good for everybody the customer gets a lese payment they could never get other wise, we make a good amount of money on the front end of the car cause of the rebate while still showing a substantial discount. And finally we make a good amount of money on the back end since the money factor is higher then the special lease.
  • vt100vt100 Posts: 4
    Hi Car_Man! I've just been quoted the following # for
    2k6 LR3 SE with Navigation, Lighting Package, Cold Weather package, blue tooth, cooler box (i don't want this 2 options but that's what they have their stock packed with).
    The quote was:
    $620/month for
    putting total of $3000 with title/tax/bank fee/ deliver charge, etc... no security deposit.
    The Money Factor used is 0.00307 and residual is 77% ($39,7323)
    That's a 30month lease with 10k/month allowance.
    I've been told if I put down the security deposit of $695 I get a MF of 0,00297 and a monthly payment of $616.
    Is this a good deal, feedback appreciated.

    Thanks
  • vt100vt100 Posts: 4
    If anyone else has a comment on this your feedback will also be appreciated. Time is of the essence and I'm pretty much ready to lease, just want to make sure I'm not making a mistake.

    thanks people, and happy holidays!
  • Hi all, i was just quoted the following numbers for lease and purchase, and i would greatly appreciate it if i could get some feedback before i pull the trigger....thanks. Also, the follwoing numbers were quoted to me without me doing any negotiations, etc. I just told them that i would get back to them...

    FOR LEASE:
    2006 HSE (with Luxury pkg, Heavy Duty PKG)
    MSRP: $55825
    Quoted Price: $52500
    Miles: 15k
    Money Factor: .00307
    Residual: 70%
    Acquision fee $595
    Down payment: $1496.21 (without taxes)
    Monthly payment: $793.88 (includes taxes)

    FOR PURCHASE i was quoted $52500

    Also, i recently receive a $1500 discount coupon from Land Rover in mail. And a few days ago i had also received a 1500 discount offer from LR when i was surfering their site (a pop-up window offer). Am I entitled to one of these discounts on top of the negotiated price with the dealer?

    anxiously awaiting replies, thanks...
  • Hi & I am gald I have found this discussion. I have picked up an LR3 for test drive and was given some lease figures from the dealer and am not sure if it's right or not. It's a '05 LR3 - SE loaded - MSRP of 52,295. They will take the $5k invcentive off and give me the tax credits. They say the residual is 66% @ approx. $38k. The discounted price is approx $47k. My payment on a 30mo. w/ 20k miles per year is $899. (remember- no tax) Is that a good deal? I hope someone responds to this quickly. I plan on returning the truck to the dealer this morning...
  • There is an aditional 700 rebate you can get from land rover to use towards cap cost reduction make sure they are using that. For a 20k mile lease I guess that sounds about right. It looks high to me but I guess that is just cause I am used to using 12k and 15k leases.
  • tdo123tdo123 Posts: 102
    Carman - I am hoping you are still watching this forum.

    I am trying to work out a lease or buy on a 2006 LR3 HSE V8 with a sticker of 55,525. As of this year, they are telling me that the residual has dropped from ~70% to 68%. That seems really harsh to me and can't tell if this is from LR or the dealer.

    Do you have any info from LR that can give us some numbers.

    I am looking for 15K a year on a purchase of 52,255. Any thoughts?
  • Hello all. The wife and I went to the local LR dealership (Anaheim Hills) and took the LR3 for a test drive last weekend. The off-road course was really impressive, but the on-road was what we liked the most. As a result, we're seriously considering the vehicle.

    So, we're looking for an '06 HSE (or perhaps an SE7-nav) and the typical sticker price is about $55K (HSE+luxury package). Without any negotiating, the salesman told us that a $0-down 48-month lease would be about $850+tax/mo. This seems quite high if you ask me. An equally (street)priced Navigator is about $660/mo for 39-months.

    So, what I want to know is... What should I expect to pay for this vehicle? What should I expect my monthly lease rate to be (looking for either 24 or 36 month). What would be a fair price/rate? What would be an amazing price/rate?

    Perhaps some of you could advise what the effective purchase price for your vehicle was and what your lease rates are? I'd need to know what the lease term is, and the number of miles per year (12K/15K) and if possible. There are other important things like the money factory (effective APR) and the the residual value, but I don't expect people to know those off the top of their heads.

    For instance:
    MSRP: $55K
    Negotiated purchase price: $53K
    Lease: $700/48-mo/15K-year

    Cheers,
    -Alan
  • men2amen2a Posts: 1
    Hello.

    I just obtained a quote from the nearest dealer from my city, which is in Albuquerque, NM. After reviewing some of the postings on this page, I realize that they are quoting extremely high for a 39 MO. lease. Here's what they propose.

    '06 LR# HSE
    Sell Price $ 55825.00 +
    10" DVD, tow hitch + mats $ 1120.00
    15K miles per year.
    Money factor .00314
    Taxes and 1 month security deposit up front +
    $ 591.00 on fees.

    Monthly payment of $ 978.00
    The sales person did not mention any rebates whatsoever.

    I would appreciate any offer suggestions to make to the dealer or any leads to other dealerships where I can get a better quote.
  • I just leased an LR3 HSE, 30 months, 12K,(Heavy Duty, Luxery package, rubber mats) MSRP $56,475 for a selling price of $52,281.96. $614.00 a month plus sales tax. Alittle less than $4,000 down.
  • Hey tdo123. Individual dealers do not have the authority to alter banks' residual values, so the number that your dealer told you is probably correct. If you tell me how long you want to lease this truck for, I can tell you what Land Rover's current residual value for it is.

    Car_man
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  • Hi Alan. I can give you an idea of what this truck's current lease program is like. If you were to lease a 2006 Land Rover LR3 HSE through Land Rover Capital Group right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00207 and 71%, respectively. The numbers for an otherwise identical 36 month lease should be .00259 and 58%. If you were to lease with only 12,000 miles per year, this truck's residual values would be 2% higher.

    I'd be happy to give you an idea of what sort of lease payment to expect to pay on this truck right now, however in order for me to do so I need you to provide me with its full MSRP and an approximate selling price. You may be able to get an idea of how much you should pay for one right now by visiting the following discussion: Sylvia, "Land Rover LR3: Prices Paid & Buying Experiences" #, 3 Mar 2005 6:49 pm.

    Car_man
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  • Hi men2a. The lease payment that you were quoted does look a little high. There are two ways that you can reduce its payment. the first is to get the dealer that you are working with to lease it to you using Land Rover's buy rate lease money factor. Land Rover Capital Group's current 39 month buy rate lease money factor for the 2006 LR3 HSE is .00264. It appears as though the dealer that you are working with it attempting to mark this factor up to add additional hidden back-end profit to your deal.

    The other way that you can lower your lease payment is to negotiate a more attractive selling price for the truck that you want. I don't know how much of a discount you are being given on this truck because you never mentioned its selling price, but a base '06 LR3 HSE has a whopping spread of over $4,700 between its full MSRP and dealer invoice prices. There is a lot of room to negotiate in there.

    Car_man
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  • Hi Car_man,

    Interested in knowing how you source the information you have on Land Rover Capital Group's current lease programs? For those of us that have to ask ;-), assuming the money factor is the same, what would the buy rate lease residual be for 24mnths/10k miles on the 2006 LR3 HSE? Is it fairly safe to assume in most cases with Land Rover that it will be another 2% over the 12k miles residual? How often do the money factor/residual values fluctuate with Land Rover? Want to get a feel for whether it is safe to assume that if I see lease program information on this site from three days ago, it is probably still current.

    Thanks,

    ddwinell
  • My disco ll lease is up and I want to get a LR3. Is there any special programs for leaseing LR3 se7's I won't get the HSE. I prefer to lease. I can calculate the payments from the other info available here but is there any mfg to dealer money not shown on Edmunds Incentive site??
  • Hi ddwinell. I am not aware of any resource that provides information on manufacturers current lease money factors and residual values to the general public. If you were to lease a 2006 Land Rover LR3 HSE through its captive finance company right now for 24 months with 10,000 miles per year, its buy rate lease money factor and residual value should be .00207 and 74%, respectively. The residual values for 10,000 mile per year leases for Land Rovers are only 1% higher than its 12,000 miles per residuals. Unlike a number of other manufacturers that change their lease programs every month or every other month, Land Rover usually only revises its lease program on vehicles quarterly.

    Car_man
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  • Hi bikeswimrun. That sounds like the username for a triathlete. If so, I'm impressed. My triathalon usually consists of type, scroll, click :D . Anyhow, Land Rover is currently providing $1,000 dealer cash on 2006 LR3 V6 models, however this cash is not compatible with its special lease program. In your post you mentioned that you currently have a Disco. That is good news because it means that you probably qualify for the $1,000 owner loyalty cash that Land Rover has available on the '06 LR3. This cash is compatible with the lease program.

    Car_man
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