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Land Rover Range Rover Lease Questions

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Comments

  • british_roverbritish_rover Posts: 8,476
    Hmhh something does not seem right. Is this a Land Rover Capital Group lease or some other third party leasing company???

    There is 3,000 dollars of lease cash from Land Rover Capital Group on Leased Range Rovers and there is 4,000 dollars of marketing support on the Range Rover if you do a traditional purchase. Most dealers are not giving up all of the 4,000 unless the Range Rover has some miles on it.
  • Thanks for your prompt reply...the salesguy told me the $3,000 lease cash was only available on 24 month terms. I was looking for 36 months so he said he had to use a different finance company who was offering a $4,000 incentive that he would pass through to me.

    He says Im paying about $500-700 over invoice yet the monthly payment doesnt seem to jibe with this.
  • british_roverbritish_rover Posts: 8,476
    From what I remember the 3,000 dollar lease cash is avaliable on all lease terms. I will check the programs tomorrow for you and make sure.

    Sounds to me like he is using the Land Rover Capital Group standard lease program and then discounting the car the 4,000 dollar marketing support that Land Rover is offering.

    If you use the special lease program you can take the 3,000 dollar lease cash to go towards cap cost reduction but you cannot take the 4,000 dollars in marketing support.

    If you use the standard lease program, that has higher money factors and lower residuals, you can take the 4,000 dollars in marketing support but not the 3,000 dollars in lease cash for cap cost reduction.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mrpierre. A credit score like yours would qualify for the money factor that I mentioned in my previous response to you. Make sure that the dealer that you are working with uses that factor to calculate your truck's monthly payment. They were either being conservative in the money factor that they quoted you because they didn't know what your credit is like, or more likely they were trying to mark your truck's money factor up to add additional back-end profit to your deal. The A-Plan price that you were quoted looks about right to me. Using this price and the MSRP that you mentioned earlier, I estimate that this truck's zero down, pre-tax monthly payment should be around $1,221 right now.

    Car_man
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  • Hello,

    I am looking to prepay an entire2 year lease on a new 2006 Black on Black Range Rover HSE. My question is what do you think a fair prepaid lease dollar wise would be? I am looking for the luxury package plus the 20 inch wheels.

    Also my credit is not very good at all....if I prepay the lease will that still be a factor?
  • linyliny Posts: 1
    Does anyone know the money factor and residual value for the 2007 Range Rover HSE on a 30 and/or 36 month lease with 10,500 miles/yr?
  • .00250 & 47% 36mo 12K
  • cjfdcjfd Posts: 4
    Hello,

    Looking at the last post I'm wondering if there was a typo...a residual of 47% on a 36 mo 12k lease - just seems a bit low for 2007 model year...

    I'm looking at possibly leasing a 2007 HSE model as well at either 36/48 mos. 12k/year. Does anyone have the residuals for these terms?

    Thanks
  • Hi carollod. I should be able to give you an idea of how much a pre-paid lease will cost on the truck that you are interested in. However, in order for me to do so I need you to provide me with its full MSRP and approximate selling price first. You can look up its MSRP by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. Make sure that the number that you provides me with includes the destination charge. As far as the selling price goes, you may be able to get an idea of how much it should be by visiting the following discussion: "Land Rover Range Rover/Sport: Prices Paid & Buying Experience". Let me know and I'll crunch some numbers for you.

    Car_man
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  • I asked a few dealerships around here too.. And they said that the best rates for a 36 month w/ driveoff on a $87,000 vehicle would be about $1750 (California- LA County tax included).

    They also confirmed the 47% residual and .00250 money factor.. Why the heck is the residual so crappy on the '07's?

    And what SHOULD I be paying on a 36 month lease w/ a '07 HSE Range Rover w/ 12K miles a year price of $83,000?
  • cjfdcjfd Posts: 4
    Hi Kilikay - I too called some dealerships here in Chicago and the reason they gave me for the low residual on the '07s is because they're going off of '06 residuals and expect the residuals to go higher by beginning of December when more inventory comes in and Land Rover Financial sets their residual values. They quoted me residuals set by US Bank at 46% on a 36 month lease and 41% on a 42 month lease.
  • I know that this is off topic but if you happen to own a small business you could save a lot of money getting a Range Rover!
    http://www.landroverusa.com/us/en/Vehicles/Range_Rover/Small_Business_Owners.htm-
  • carollod: If you have bad credit, why are you looking to
    1) Lease 2)an expensive vehicles, and 3) pay a bunch of cash up front? You should use that cash to fix your credit or buy an inexpensive vehicle outright and actually own an asset...
  • I am in the process of trying to get the best lease rate on either a 2006 or 2007 Range Rover HSE. I will be turning my current lease in mid-February. I live in South Florida and met with one dealership, but would like to keep my payment as low as possible. Just wondering if there will be deals after the New Year. Appreciate any input...thanks.
  • Happy New Year, ttilson. Land Rover's December lease program for the Range Rover HSE is scheduled to run through January 8th. It is difficult to say what its new January program will be like at this point. I would be happy to give you an idea of what it is like once it is officially announced. Post a quick reminder for me in this discussion a day or two after the 8th and I'll tell you what I have been able to find out about the new program. Talk to you then.

    Car_man
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  • cjfdcjfd Posts: 4
    Hi Car_man - I've been following this post and am in a similar situation as ttilson. I can't decide between an '06 HSE with all the incentives or use my X-plan pricing on an '07. Trying to keep my payments low and trying to get the most out of my $$$. Do you have any incentive/program info for leasing an '06 or '07 ?

    One dealer I've been talking too is willing to give an '06 at $1k over invoice (according to edmunds invoice is at $73911 - w/luxury pkg and sirius). Is that a good deal? I also have a $2k off coupon I can use on an '06.

    Thanks for your help
  • Hi cjfd. These trucks' lease programs vary depending upon how long you lease them for and their mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Land Rover Capital Group's current buy rate lease money factor for a 36 month lease of a 2006 Range Rover HSE with 15,000 miles per year are .00148 and 44%, respectively. Land Rover is providing $3,000 lease cash on this model right now that will help you negotiate an attractive capitalized cost for your lease. If the $1,000 over dealer invoice deal that one dealer offered you on the leftover '06 model is after the deduction of the $3,000 lease cash, it is really equivalent to $4,000 over invoice and it is not a very good deal. If you can subtract the $3,000 lease cash from that price to bring you to around $2,000 under invoice it isn't bad.

    LRCG's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the 2007 Range Rover HSE are .00233 and 50%. There is no lease cash available on the 2007 model.

    Car_man
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  • Hi Car_man,

    I've reading up on this thread and it seems pretty obvious that you are the Car Man. I am in the market for an 07 RR HSE and have just begun to reasearch lease plans. According to the numbers mentioned above, on a $77,250 MSRP w/ a $3,000 lease cash (not sure if this is still being offered) brings the cap cost to $74,250 which equates to a montly lease payment of $1,397 and change (using LA sales tax of 8.25%). Is this right? Do you think I can get a lower money factor since my credit score is above 750? What is the lowest possible lease payment with no money down in So. California? Thanks in advance for your help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks eshin53 :shades: . Land Rover is not currently providing any cash incentives on leases of 2007 Range Rovers, but it does have $3,000 lease cash on the 2006 model. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest possible selling price on the truck that you want and then have the dealer that you are working with subtract any available cash incentives from that.

    Let's take a look at this truck's current lease program. Your credit is in good shape, so I will provide you with info on Land Rover's best money factors. You never mentioned how long you want to lease for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Land Rover Capital Group's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Land Rover Range Rover HSE with 15,000 miles per year are .00148 and 44%, respectively. I would be happy to estimate what this truck's lease payment should be for you if you tell me what sort of price you believe you will be able to negotiate. You may be able to get an idea of what sort of price you will be able to negotiate by visiting the following discussion: "Land Rover Range Rover/Sport: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • Hello Roving Rovers

    I am in the market to lease a 2007 Range Rover HSE. I would prefer 3 years, but 2 years works. Looking for about 12000 miles/year.

    Now that we are in late March, are there any incentives for the 2007 Range Rover? Land Rover keeps sending me a 2000 coupon for 2006 Range Rover. No one has the 06 in stock anymore.

    I will be trading my 2005 LR3 HSE (financed). So, I think things will get a bit hairy. I owe 20K, it is valued at 30K.

    Ideas?

    Oliver
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