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Land Rover LR3 Lease Questions

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Comments

  • british_roverbritish_rover Posts: 8,476
    Your leasing specialist doesn't know what they are talking about.

    Land Rover has special lease deals on the remaining 2007 MY LR3s to clear out inventory. The 2008 MY LR3 does have a higher residual value but the 2007 MY LR3 has a money factor that is significantly less plus Land Rover has a couple of thousand dollars in lease cash on 2007 LR3s.

    Yu already have a price well below invoice, which is around 51,500 on that car, so you aren't going to get any better deal.

    A similar 2008 would probably lease at over 1,000 dollars a month.
  • cboy3cboy3 Posts: 5
    Thanks for the quick response. Very helpful (besides that its what I wanted to hear). I suspected that the leasing specialist is really looking out for the residual value that he might inherit, and so it is good to hear another voice suggest that his view is skewed.

    Thanks again
  • marczmarcz Posts: 17
    Could someone indicate the current Land Rover money factor and residual value on a 2007 LR3 HSE, for a 36-month lease with 15,000 miles per year? Thanks.
  • Hi folks, anyone have a view on stock levels? they seem to all over the show in CA. Some dealers listing 20+, others only having the odd one left. I am wondering, for those with significant stock left, what will they do to move them before everyone else is selling 08's? ;)

    Any thoughts :confuse:
  • Is there any way in which a comparable MF to the Land Rover Capital promo for new 07's can be matched on loaner 07s? A heavily discounted 07 V8 SE looks great until you realize the new one has a great Residual/MF over 24 Mths.

    Thanks :)
  • cboy3cboy3 Posts: 5
    Can't give you the number for 15K. For 12K it is 51% offered by dealer through America Credit. The ALG number is 44% for this vehicle (36 months, 12K), so dealers are goosing the number up to lower payments but your car could be under water when lease is up (if it matters to you). Just got a HSE loaded with trailer hitch, cross bars and rubber mats (no dvd) for $49,500 from invoice of $51,800 and MSRP of about $55,500 to get payments ~$800 before tax.
  • british_roverbritish_rover Posts: 8,476
    The programs on new LR3s are the exact same as the programs on loaners. The only catch on the loaners is that you have to pay for however many miles they already have at 15 or 20 cents a mile. A typical loaner is going to have between 5,000 and 6,000 miles so you have to pay for those miles either up front or by building them into the lease payment.
  • Cool. So correct me if I am wrong, but a dealer that is willing to discount a loaner with say 5k miles om it can offer .00106 and 64% residual over 24Mths @ 10.5k per annum but they have to add approx. $1200 (6000 x $0.2) to Cap Cost for the existing mileage?

    I was under the impression that most dealers 'sold' their loaners to their service dept. and so could not lease them on same LR Cap program as new?? guess I have been misinformed.

    Thanks for clarification, even though I consider myself far from stupid, the options still confuse.
  • british_roverbritish_rover Posts: 8,476
    It depends on what kind of service loaner program that the dealership has with Land Rover. Most dealers in our area do not register their cars but just put them out on dealer plates.
  • marczmarcz Posts: 17
    Thanks cboy3. Car Man, do you have the current Land Rover Capital Group MF and residual for 36 months and 15K miles per year on the 2007 HSE? I appreciate your help.
  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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
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