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Land Rover LR2 Lease Questions

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  • jmanerikjmanerik Posts: 3
    I wanted to know if anybody is aware of June Incentives on LR2. Also I wanted to know Residual and MF for a 2 Yr LR2 lease with 15K Miles/Yr as well as 12K Miles/Yr. Are they different than the one provided earlier in this thread? Thanks to all in advance for your help. :)
  • jmanerikjmanerik Posts: 3
    A bit of detail that I didn't mention in my previous post is that I'm looking for LR2 with Cold Climate package 2 yr lease with possibly a-plan and either 12k or 15k miles per yr. Thanks in advance to all for their help.
  • Wait until July 5th. There is supposed to be a new program coming out that should save you some $.
  • bmk007bmk007 Posts: 27
    If anyone gets any hint of the July LR2 lease incentives, please pass them along.

    My LR3 lease is up in a couple months, and I am very anxious to switch to an LR2...so anxious that I am contemplating switching now, but that will cost me more to get out of my LR3 lease.

    I'm hoping the July incentives are good. I still have yet to see an LR2 on the road in Northeast Ohio, so I hope LR has a good program and gets more people interested.
  • britman4britman4 Posts: 27
    Don't hold your breath. Car sales recovered last month and interest rates are going up. In the last month the 10 year bond has gone from 4.62 to 4.98. So although in some ways they will try and reduce the lease, other things are out of their control.

    If anything, leases may go up from here.
  • Keep in mind, Land Rover Fianacial can set the money factor at what ever they want, which is what will drive the payment of the lease. Also, they can set their own interest rates, i.e a 3.9% rate on the Acura RDX for 37 to 60 months. Go to Acura.com and see exactly this. Also, expext to see WoW type lease offers on MB product in July too. They will be coming out with their summer event to remember.
  • british_roverbritish_rover Posts: 8,476
    They could do that but in general they don't. Land Rover does not subvene leases unless it is the very end of the model year.

    Even with their whole dealer network screaming at them to offer competive leases on The Range Rover, LR3 and Range Rover Sport for the past two years they have not done it.

    I don't see them doing it on the LR2 either.
  • My connection over the pond says yes, but i am not holding my breath either.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hugo5. Land Rover Capital Group's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Land Rover LR2 SE without the Tech Package with 10,500 miles per year are .00248 and 58%, respectively.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jmanerik. I don't believe that this truck's lease program has changed since early April. According to the latest information that I have seen, through July 9th Land Rover Capital Group's buy rate lease money factor and residual value for a 24 month lease of a 2008 Land Rover LR2 SE without Tech with 15,000 miles per year are .00216 and 68%, respectively. The money factor for a lease with only 12,000 miles per year would be exactly the same, but the residual value would be 2% higher. As an alternative to the special lease program, Land Rover is offering 4.9% financing for up to 5 years on the LR2. I don't believe that it is currently providing any cash incentives on it.

    Car_man
    Host
    Prices Paid Forum
  • k8yk8y Posts: 4
    First of all, I am loving my LR2! It exceeds my expectations, the more I drive it, the more I love it and know I chose the perfect SUV for me! (after looking and test driving almost everything under 50K)

    I HIGHLY recommend the Internet Manager/Fleet Sales Manager at Hornburg Land Rover in West Hollywood.

    I sent out 6 requests for dealer quotes in the Los Angeles area through cars.com and only 2 send me back actual numbers (the rest seem to want me only to come and visit in person....):

    Land Rover South Bay promptly sent me a spreadsheet and was really helpful with additional information and reconfiguring numbers, but didn't seem to have the exact options I wanted and location was too far away.

    Hamid (Internet Manager) from Hornburg West Hollywood got back to me a little later, but it was worth the short wait. He gave me by far the BEST deal! He was very low-key, no pressure and made the transaction a wonderful experience! Their finance guy walked me thoroughly through the final deal and answered all my questions with patience and kindness. I walked out of there completely confident & knowledgeable about my decision & the deal I got!

    (Enter the keyword "HORNBURG" into "Search Land Rover LR2 Discussions" and references to him come up, with great feedback several times)

    P.S. I've noticed on some Land Rover dealer's websites: (end-of-month) lease deals...But you have to look for them...Usually under the "specials" link...note: all deals are "On Approved Credit" and usually dealer stock...
  • bmk007bmk007 Posts: 27
    Thanks for your feedback and conrats on your LR2.

    If I may ask, what kind of deal did you get on your LR2 lease?

    How many months? How many miles? What is the payment? which options did you get? How much did you have to put down?

    Thank you.
  • k8yk8y Posts: 4
    Hi bmk007,

    24 months / 12,000 miles

    Narvick Black
    Technology Package
    Lighting Package

    Added Walnut Wood Fascia Kit (about $800 installed) & Wear Care Warranty ($650)

    $7000 down (voluntary large down to keep payments low & because my credit is so-so)
    $ 449 per month (including tax)

    Hope this helps you...
  • britman4britman4 Posts: 27
    So if we assume 1500 was costs involved, you put down about 5500. Equates to about $690 per month. 717 if you spread out the wear and tear.
  • bmk007bmk007 Posts: 27
    Has anyone heard what the Q3 Lease programs will be for the LR2?
  • british_roverbritish_rover Posts: 8,476
    Not out till tomorrow.
  • tony411latony411la Posts: 14
    I'm curious too. The lease on my X3 is up next month and I'm leaning toward the LR2...if the lease price has improved.
  • bmk007bmk007 Posts: 27
    Are the new lease program details available for the LR2 yet?

    Thanks.
  • british_roverbritish_rover Posts: 8,476
    Yup about the same as the old ones. Land Rover doesn't do leases sorry.
  • britman4britman4 Posts: 27
    Well they probably did improve them in one area but Interest rates went up.

    I would love a Bentley Turbo. I wonder if they will reduce the Lease deal so I can afford it.

    If the LR2 Lease prices are too expensive then get a Murano. I am sure LR will not lose sleep over it.
  • british_roverbritish_rover Posts: 8,476
    Residuals went down but money factors went up.

    They kept everything about the same but are continuing the 4.9 percent.

    Seriously Land Rover just does not encourage leasing. They don't have the volume to support 5,000-10,000 dollars of lease incentives like Mercedes and BMW do.
  • lakes00lakes00 Posts: 3
    Same situation I had my heart in an LR2 but my brain told me it did not make financial sense. So before heading out to lease an X3 (5-6K more expensive and almost $200 per month less than the initial LR2 lease quote), I gave it a shot and spent a few exhausting hours with the most reasonable LR dealer I found in my area, until I walked out with a "deal".

    I'm paying $400+tax per month, 30 month lease on a blue+black interior LR2 w/ lights packg. $4K total down 12K miles per year.

    Dealer claims they are almost losing money..and I almost believe them...It is still worse than what I was getting at BMW, but within reasonable distance.

    I love the LR2, but it is car, not an asset... a car is an expense, a liability thus the reason I Lease and invest money in assets. There is someone dumb enough in this forum to assure LR does not need the money. What they need is smarter financial people after spending tons of money in Marketing and building a nice product. Guess what, the product is not complete...without a good price...which also includes competitive financing, they are lacking big time in what could be their best seller ever. Specially considering their previous experience with their entry model in the US. It really seems odd...but then again ..I did get the car I wanted ..almost at the price I wanted(down pay was too high)...so people...there is hope out there!!!
  • britman4britman4 Posts: 27
    Your downpayment was high. $4000 spread over 30 months is effectively adding $133 dollars a month to the lease. So you are up to $533 before tax. But wait, as an investor you will undoubtedly know that you would have most likely received a return if that $4000 was invested over 30 months in say a Fidelity Fund. Over the last two and a half years (30 months) your $4000 would now be work about $6000 in a moderately performing Mutual Fund. So actually if you include the sum you could have made over the next 30 months if you invested the $4k that adds as a cost up to $200 dollars a month. I know I don't need to tell you this because you are an investor.

    Most other quotes on here from LR include sales tax and "Property Tax". which can be another $80-100 a month in the first year because your quote does not include it.. LR always include all taxes in their quotes, which is often over looked when comparing.

    So before everyone rushes in and asks for $400 a month leases, in reality, with nothing down, you are probably still talking $670 to $700 per month once everything is accounted for.

    You got the car you wanted, satisfaction and enjoyment is hard to price. That's the cost of getting a Landrover. It is a "Goods of Ostentation" product. In reality, by lowing the price of the product LR may in fact overall see declining revenue and profit. Mad but possible.
  • You must be talking about Car and Driver Magazine right?
    Well, IMO they "S" Big Time in car reviews :sick:

    quote: "At 5772 pounds, the LR3 was by far the heaviest of this bunch, with meager skidpad grip and the poorest power-to-weight ratio. No surprise that it was the slowest to 60 mph and through the quarter-mile. "

    "quarter mile run" these are SUVs not a 10 seconds FAST and the Furious cars! lol
    and as the BRITS would call it LAND ROVERS are 4X4's not your usual pimp my ride SUVs

    quote:"Climbing out of any of the other SUVs and into the blocky Land Rover was like moving out of a condo and into a Congressman’s house."

    and that's not paradise??? hmmm :confuse:

    Land Rover doesn't go to paradise "It goes to hell" :P

    Mods/Host sorry if post out of topic...just want to share my two cents :)
  • tony411latony411la Posts: 14
    After reading the posts in this forum, I decided to take the plunge. I went to Hornburg Land Rover in West Hollywood, CA and got the following deal on an LR2.

    Tech & lighting Packages
    MSRP, $39,350
    Negotiated Price, $35,616
    24 Months
    10.5K miles per year
    MF 0.002
    Residual 67%
    $2k Down (includes first payment & registration AND last lease payment of $624 on current BMW).
    Monthly, $570 including tax.

    Can someone tell me if this is a good deal or can I do better?
  • britman4britman4 Posts: 27
    Explain ...Including Tax

    All taxes? Sales and Excise? or will you get bill later on for the excise?

    570 With effectively nothing down but costs seems pretty good.

    If you still need to throw in Excise Tax then effective thats another 70 bucks or so
  • tony411latony411la Posts: 14
    Yes, the $570 monthly includes all taxes. Thanks for reviewing this.
  • star8star8 Posts: 8
    I test drove a lr2 yesterday and I LOVEDD it.

    This is what I was quoted:
    cold climate package
    $451
    24 month lease
    $1200 due at signing, includes first month
    10,500 miles, although I wanted 12,000
    black exterior

    And this is the A plan.

    If you work for ford, the guy said you can get it much cheaper, like $299/mo.

    I wanted to lease for 36 months, but he said you get it better at 2 years, is this true??
    Let me know if this is a good pricing.
  • bmk007bmk007 Posts: 27
    Does the $451 payment include tax?

    Does the LR2 come with cold climate, lighting, or tech packages?

    I think that appears to be a decent deal on the 24 month leases.
  • star8star8 Posts: 8
    Yes, it does include tax. It only has the cold climate package in black narvik.

    Do you get it cheaper for a 36 mo lease??

    I got another quote saying $466 for 12,000 miles. and 1200 down. 2year lease. cold climate.
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