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Land Rover LR3 Lease Questions

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Comments

  • Ceperry: I just recently leased an SE with the ligthning pack, bluetooth & sat radio in FL and their final price was 43200k after applying a $1500 coupon I got from factory. The residual was 71% for 10500, 70% at 12000 miles and at 15k it drops to 68% . I did not put any $$ other than first payment,tax and tag. I needed the 15 k miles si I had to take the lower residual. I suggest that if you can deal with the 10500k per year to go with that, you will get a lower MF and higher residual. I am not sure if they still have the 1500k coupon, but you can try going online to Landrover.com , log on a few times until you get a survey pop up, after you answer their survey you should get a coupon via email or mail. Read some of the other posting, go back a month, I did and I got a lot of useful information. By the way I LOVE MY LR3!!
    hope this helps.
  • Thanks, Liv4theroad. Glad to hear you love your LR3!

    Does anyone know the latest numbers as far as residual/MF? I am now talking with a dealer about a more-equipped SE that has my options as well as heavy duty, cold weather and third row seats. MSRP is $54,375, they're offering me a cap cost of $47,625. We haven't gotten into lease specifics yet (he has to find one of the third party lease companies they work with as Land Rover won't allow the extra factory money to get the discount if it's lease, so we can't go through Land Rover Capital.) I'm looking for 24-month or 36-month, 12k miles. What should I expect for current MF and residual in each of these cases?

    Thank you!

    Christina
  • TJones, I'm running into the same problem - that great 24-month lease deal with the favourable money factor doesn't work with the $6,750 off (because that number depends on LR marketing dollars.

    May I ask what the MF/residual is for a 24-month lease with 15k miles if you took advantage of the lower purchase price (and thus excluded the special lease rate?)

    Thank you!

    Christina
  • Hi, all -

    Okay, I finally got my new LR3 yesterday! Love it so far.

    Here's the deal I ended up with. Got a much more loaded V8 SE than I was looking for (MSRP 55,175 - third row seats, cold weather pkg, navigation, lighting pkg, heavy duty pkg, satellite radio, cooler box) but I think this is a pretty good deal. They threw in floor mats and Wearcare.

    24-month lease, 10,500 miles/yr, purchase price of $50074, which is about $26 over invoice.

    What do you think - did I jump the gun or did I do okay? (I wanted to wait longer to see if prices get better toward end of year, but I really wanted Bonatti Grey and there weren't many left in my area!)

    Thanks!

    Christina
  • Can anyone help me on this. I am dealing with a Dealer in Oh who I am looking to buy a 06 LR3 SE with 3rd row seating. Cold Pkg, Lighting Pkg and nav. I asked what the MF and residual was he said that the residaul was 65% but wasn't sure on the MF. MSRP is 55k and they quoted me 795 for a 2yr 15k miles. Due at signing was tax tags and first,last months payment. How does this sound.

    Also I notice today online they are offering a LR3 V6 lease for 499 month with 3200 due at signing
  • Hi carman,

    just joined forum today because I am on tight timeline, heading out of town on a business trip in 2 days and want to finalize my lease deal so I can pickup new LR3 on way home from airport.

    BUT I do not want to accept bad lease deal under pressure. I am new to the lease game so I may not have the lingo down.

    Here goes'

    I am looking at 2 different 2006 LR 3's

    Blue one: Has all options but the sat radio and hvy duty package. I s a demo model with 1,700 miles.
    They are telling me MSRP is $48,600
    Offering me lease deal of: 24 month/ $3,000 down / 12k miles yr/ $ 651 month w/ tax

    White One: Has all options including sat radio & no hvy duty pkg . Is new w/ no miles
    They are telling me MSRP of 54,475 - $2,000 off incentive from land Rover = MSRP of $52475
    Offering me lease deal of : 24 month/ 3,000 down/ 12k miles yr/ $678 month w/ tax

    Are either of these a good deal ??

    Sorry for the need for a rush answer!
  • Update on the lease info.

    LR3 SE msrp 52000
    Selling: 47500
    Options: Cold Climate Package
    Lighting package
    Park Sensors
    Personal Telephone(Bluetooth)
    Rear seat and rear climate control
    Satellite Radio

    With no money down, 24 months, 15,000 miles a year, 722.98

    With 1208 down(taxes), payment is 673.24 a month

    MF: .00167
    residual: 68%

    How does this sound?
  • explorerx4explorerx4 Central CTPosts: 9,736
    i'd take the airport limo home and do some more homework. jmo.
  • FYI they are still offering the $1500 coupon. I filled out the survey and requested brochure on Sunday and got the coupon emailed on thursday. I'm going to Land Rover Friday and applying it to an LR3.

    Gabe
  • Hi everyone

    Do you know if you can use the 1500 coupon on a service loaner LR3? My dealership is saying that it has to be a new truck.

    Thanks
    Laine
  • L.

    I went in today to use the coupon on LR3 VIP service Loaner and they told me NO I couldn't use the $1500 coupon towards it, that it could only be use on a new 2006 LR3 V8 HSE, V8 SE or with V6 with premium package. That was when I was ready to sign the papers. I told him that I was going to go to different dealership that was offering brand new one with 1 less option for $25 less a month that was going to take the coupon, he reconsidered and took the coupon. I would go check all dealerships in your area and see who would take it on a loaner!

    G.
  • Local dealer wants to lease me a VIP demo LR3 SE V8 with 5700 miles-- MSRP of 55300, cap price of 49,575.

    24 mo, 15K miles per year with taxes, bank fee and first month payment out of pocket for $655.00 per month.

    He will lease me a NEW SE V8 with less equipment MSRP 51,000, cap 47,500, for $630 per month. Same 24 months and 15K.

    I have not yet brought up my 1500 coupon, which I hope to use to reduce my out of pocket expense (taxes, etc.).

    CARMAN, what do you think. The dealer is pushing me to do the deal before the month ends. Thanks.
  • Hi,
    I just found this forum and i've learned so much already. I would appreciate anyone's feedback. I went to a couple of dealerships and this is the best deal I got: 2006 LR3 V8 HSE Loaner which has the navigation systems, the climate package, etc. The only thing it didn't have was the cooler in the console and the adaptive headlights. The car has 5000K miles on it and it's a 7 seater. 24K miles for 24 months out of pocket is $4200 with all fees and monthly payment would be $400 a month. I asked the sales agent about applying the $1500 coupon and he told me the same thing that it had to be a NEW 2006 LR3 V8 HSE, V8 SE. Any tips on how I can get them to use the $1500 coupon? thanks!
  • ehnjehnj Posts: 20
    Hi, I am looking to buy or lease a 2006 LR3 w/ 3rd row seat, premium and cold climate packages. MSRP I got from a dealer in NJ is $45870 (incl. 715 destination charge). He is quoting me $42,833 minus $3000 dealer incentive, for a total of $39,833. I asked him for a rate on a 36mo 15k lease. He told me it's best to wait until Tuesday, that's when the new lease terms come out (he noted that a 24mo lease was more attractive in September). What residual and money factor should I be expecting? I think I read somewhere that the residual on a 36 mo lease is 55%....
  • ehnjehnj Posts: 20
    hi Gabe. I want to get my hands on the $1500 coupon. I went to the landrover website, and requested the brochure. Will they automatically send me the coupon? You reference a survey, is that the 4 or 5 questions they ask when you request the brochure, or is there another survey that I need to fill out? I couldn't find a link to a survey online.
  • Ehnj

    Hello. I kept going into the landrover website at least 5-10 times before it pops up in the middle of screen. If I remember correctly it says would you be willing to answer a survey for landrover. It has at least 15-20 questions. I requested a brochure and also filled out information on KEEP ME INFORMED. This is information that KEEP ME INFORMED HAS " Stay up to date with everything that’s happening at Land Rover. Simply fill out the form below and you’ll receive the insightful Land Rover Quarterly e-Newsletter, as well as the latest information and offers on the vehicles you request. Rest assured, our Tread Lightly!® policy extends to your Inbox. Your information will not be shared and you will only receive the information you request.
    I am not sure which of the three is the one that sends the email. I assume it's either the survey or KEEP ME INFORMED! I hope this helps.

    Gabe
  • ehnjehnj Posts: 20
    Thanks Gabe. Struck gold on try #7. Anxiously awaiting the coupon....
  • Today I recieved in the mail the brochure that I requested and enclosed was the $1500 coupon. So, I recieved an email with coupon attached to it and it's been a week since I requested a brochure and got another coupon. Therefore, my suggestion is to definitely request an LR3 brochure. You should receive a coupon in the mail within approximately one week. You might also receive an email.

    Gabe
  • Does anyone have the October LR3 rates?
    MMF dealer cost for 36 months, 10k and 12k per year
    Thanks
  • dpeck1dpeck1 Posts: 51
    HELP HELP with lease.HELP HELP with lease.About to lease a NEW SE V8 with cold weather, lighting package and 3rd row seat, MSRP 50800 cap 47,500, for $630 per month. 24 months and 15K. They are also including the roof rails and rubber mats.

    Out of pocket is $2503 which is 1st month, 595 bank fee, DMV and registration and tax...they are waiving security. I have applied my 1500 coupon to reduce this number to $1003 to get into lease.

    Please advise ASAP. Thanks.
  • gablesgables Posts: 5
    My wife received the following quote from a dealer in Miami-Dade.

    2006 LR3 SE7 with the Lighting, 3rd Row Seating, Rear Climate Control, Bluetooth and Satellite options. Purchase price is $45,980. Lease is 24 months / $640 including tax.

    Are there any current incentives? Is Land Rover Financial subsidizing the interest rate? What is the current money factor?
  • sccssccs Posts: 2
    Can anyone tell me how if there is anyway to know if I will receive a coupon? I went to the LR website, I signed up for a brochure and "keep me informed" and I also completed a survey which was directed to my impressions of the website. I have not yet received an e-mail from LR, (about 12 hours later). Do I need to do anything else. Have those of you that received a coupon in the mail gotten prior notice that the coupon was forthcoming? Thanks
  • ehnjehnj Posts: 20
    sccs

    I did the same thing a week ago, filled out the survey about the website experience, got the coupon 3 days later via e-mail.
  • sccssccs Posts: 2
    Thanks for the reply, I'll keep checking my e-mail.
  • ehnjehnj Posts: 20
    CAR_MAN, are you asleep at the wheel? A couple of us are looking for lease information....

    I can´t get a dealer to give me the whole picture, so I am dealing with pieces of information:

    Deal 1: LR3 V6, Premium package, Cold Climate and 3rd row, 30mo 15k for $550 (I am assuming this is whitout taxes). He tells me he is using 56% residual, and .00384 for money factor. He previously told me that I can buy this one for under $39000. So using MSRP of $45500 and capitalized cost of $39000, the lease should come out much higher than what he is quoting me. Looks like his residual is high (another dealer gave me 65% residual on a 30mo 15K lease) or the moneyfactor is too high

    Deal 2: LR3 V8,cold climate package, lighting package, bluetooth, rear seat climate control, and satellite radio for $655/mo (excl taxes). MSRP is $51800, residual 65%. I don´t have the money factor.

    Bottom line, I can´t figure it out. What should the residual % be on a 30mo - 15k lease. Also, what moneyfactor should I be using? Can I assume that the capitalized value is the same as I negotiated on a purchase?

    Really appreciate your help. I need to make a decision by Saturday.

    Thanks,
    Erwin
  • gablesgables Posts: 5
    I received the followng quote from a dealer in South Florida:

    Vehicle: 2006 Land Rover LR# SE V* 7 passenger model
    MSRP: $50,100
    Sell: $44,900
    Term: 36 months
    Miles: 12,000

    Monthly Payment: $774,43 with tax,

    It seems really high. I have yet to apply the $1,500 coupon, but I don't want to waste my time because I can't make snese of his calculation.

    Thoughts?
  • ehnjehnj Posts: 20
    Gables,

    I assume you are talking about a V8. I am looking at a V8 30 mo - 15k lease (LR best lease rates are on a 30 mo lease). The residual on a 15mo lease is 65% (yours should be higher on a 12k lease). The money factor I am getting is 0.0016. Based on your MSRP and selling price, a 30 mo - 15k lease should be around $580/mo (incl. taxes), with only the inception cost as upfront payment. I am going to post the quote that I got, it should leave you to conclude that your dealer has a long way to go to get you in the right ballpark.
  • ehnjehnj Posts: 20
    Details from a dealer in NJ:

    V8, 7 passenger, lighting, cold climate, bluetooth, navigation

    30 months, 15k lease

    MSRP: $53650
    Cap cost: $46650
    Residual : 65%
    Money factor : 0.0016
    Monthly payment (including tax): $559

    This quote is a result of a couple of e-mail exchanges with the dealer, and is a lot less than what I had gotten over the past 2 weeks. Too good to be true? Is there a catch? Or does LR really want to get rid of their '06 vehicles by the end of October?

    I haven't applied my $1500 coupon yet. Am I better of applying it to the inception fees (1st mo payment, bank fee, etc...) or should I use it to reduce the cap cost?
  • gablesgables Posts: 5
    ehnj:

    Yes, your assumptions are correct. I asked and received another quote on a 30 month lease. Again, its an LR3 SE V8 with the third row seat package, plus Bluetooth, Sirrius and the lighting package. The numbers break down as follows:

    MSRP: $50,100
    Cap Cost: $47,900
    Residual: 67%
    MF: .00152
    Term: 30 months
    Miles: 12,000

    The cap cost is way too high. I asked him to apply the $44,900 cap cost that he used on the other quote and he said he couldn't. BS! I'm going to speak to his manager in the morning.

    I want to get the lowest possible cap cost before showing him the $1,500 coupon to get the best deal possible. I also want to verify the MF and residual before moving forward.

    Is the money factor and residual in line with what you are seeing?
  • Hey I can't get a reply...from Car_man...how long before you were answered...it's been over a week?
    Cheers,
    RM

    Hello Car_man:



    I have a deal from a LR dealer in NJ. Please let me know your thoughts as it seems like a great deal based on all the feedback and the education I have gained from your excellent website.



    The Deal:



    2006 LR3 V6 (cold climate and premium packages, plus Sirius radio) new car Black and Black color combo.

    MSRP $44,100

    Cap cost $33,825 (my buy price) which includes LR Credits of approx 6K and $1000 LR lease rebate. (DOES THIS SOUND RIGHT?)

    30 month lease

    2K Total out of pocket, Tax Tag title, etc bank fee included $595( hate that, but picking my battles here)

    Plus I’m using the $1500 certificate from LR (NICE)

    12,000 miles per year

    Money Factor .00374



    I’m sure I’m missing something…Oh, the monthly payment is $453 inc NJ TAX.



    Anyway, please give me your thoughts…I’m having them FAX over all the lease and buying agreement/details.

    BTW. I’ve never been to this dealership this has all been done online and over the phone/fax.



    Thanks,
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