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Land Rover LR2 Lease Questions

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  • kyfdxkyfdx Posts: 27,901
    You mean there is no interior sunshade for the sunroof? Weird..

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  • There is sliding mesh UV screen which is very cool when the sunroof is open, but I dont consider that a full cover. These covers reduce sound and also block out COMPLETE light. With this mesh screen, there will still be some glare/light and noise.
  • kyfdxkyfdx Posts: 27,901
    I think the MINI has that same sort of mesh shade for their monster-sized sunroof..

    You might have heat issues on 90+ degree days, I would think....

    Good deal, though..

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  • I never had problems with my MINI and the mesh sunroof and I was living in Virginia at the time. The only thing that got too hot was the metal top of the gear shift and that would have happened on any car. I also think that the same sunroof or at the very least a very similar sunroof is used on both the LR2 and the MINI.
  • Welcome Ryan. I'm glad that you've found the forums to be so helpful. The money factors for leases with 12,000 miles per year and 10,500 miles per year are exactly the same. The 10,500 mile lease will have a slightly lower monthly payment though because it will have a higher residual value. Through January 7th, Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Land Rover LR2 HSE are .00270 and 68%, respectively.

    I am not personally all that familiar with what dealers are willing to sell the LR2 for right now, but if I was in the market for one in a competitive market like Los Angeles I personally would shoot for a selling price of around $500 over dealer invoice.

    Car_man
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  • seaguyseaguy Posts: 2
    I just saw the new promo ad on the LR website for a LR2 HSE. Here are the details but they don't mention any options:

    MSRP : $36,850
    Residual: $25,058
    Due at signing: $3,900 + $1,500 from LCG
    10,500/yr
    24 month term

    I was just told by a LR salesman that the MSRP doesn't really matter if you're doing a lease but from reading the posts here it seems like negotiating a lower price really does affect lease payment.

    Any help would be greatly appreciated.
  • This looks like a good deal. I was offered an HSE base model with only the blue tooth and Sat. radio ( you can get this option without the full tech package on the HSE). $2000 down. $480/month. 24 months. 10,500/year. Includes tax. I don't think the tech package for $3500 is worth it. I am in S. Calif. My only thought is waiting to see what they do with the 2009's. I hesitate to buy a new car on the first year out as it seems changes happen after that first year. Has anyone heard of new options coming out?
  • I too am interested in leasing an LR2 here in Los Angeles. The nationally advertised $399/month, 24 month, 10,500 miles/year deal you mentioned is attractive, however, I would prefer a 36 month term allowing 15,000 miles/year, plus the $3,500 tech package, in Narvik Black. I would greatly appreciate any advice. If anyone has any idea as to how much extra I should expect to pay per month for such a vehicle, which dealership is best (Encino, Hornburg, or Thousand Oaks), other relevant info, etc., please let me know.
  • I can't say for sure but I have heard the tech package jumps lease prices up $100/month as the $3500 gets amortized over the lease term. Also adding black color is an extra $400 dollars and with the higher mileage, I am thinking you will likely be near $550+/month. I would rather get a Tom Tom for $500 and be able to take it with me when I turn the lease in.
  • Hi seaguy. The MSRP and selling price of the vehicle that you want to lease absolutely do matter. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what the selling price of the truck that you are interested in is, you don't know how much of a dealer discount you are being given on it. Furthermore, you can use these prices, in conjunction with Land Rover's current lease program, to estimate what your truck's monthly payment should be.

    Also, when negotiating your lease on the LR2 that you are interested in, keep in mind that Land Rover is currently providing $1,500 lease cash on this model. I would not be surprised if you were able to negotiate a selling price that is below dealer invoice after taking advantage of this cash. You can look up the exact invoice price of the truck that you want by visiting the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • Hey tomatosaenz. Let's work up a sample lease payment on the exact lease that you are interested in and see what we come up with. The MSRP of a 2008 Land Rover LR2 HSE with the Technology Package is $39,650. Its dealer invoice price is $36,151. subtract the $1,500 lease cash from that and add $1,000 for the dealer and we arrive at a capitalized cost of around $35,651. According to my calculations, if you were to lease a 2008 LR2 HSE that has an MSRP of $39,650 and a selling price of $35,651 through Land Rover Capital Group right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $590.

    Car_man
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  • Wow, thank you for your insights to both Car_man and ajnikolai. From what I'm seeing, leasing a loaded LR2 with those terms just doesn't add up. So it's back to the drawing board for me. I really liked the vehicle, but I don't do much off-roading here in LA, so perhaps the Lexus RX350 is better suited for me, especially since they are really dealing on them at this time. Either that, or I'll keep my '99 Explorer with 140,000 miles for as long as it can run.
  • I hadn't really thought about the Lexus. What kinds of deals are you seeing in LA?
  • Car man, I just looked at a 2008 LR2 SE, brand new with no miles. Dealer said he would only sell it to me at his invoice which he states was $34,300. Per Edmunds dealer invoice is supposed to be $33,598 AND it also says there is a $3000 manufacturer to dealer rebate which he is not even offering me. What gives???
  • I just leased an '08 LR2 this week with the 3-pack:
    1. Cold Climate
    2. Lighting
    3. Technology

    MSRP 39950
    Sale Price 35704

    I put $3k down (which included titles tags taxes and first month's payment). $485/month for 24 months with 12,oo miles a year.

    I am very pleased at the number I am paying given the fact that the first offer was for well in the mid $500/month range.

    One caveat, I had to have the car serviced yesterday because the key pod was not recognized in the slot. they said it was an electronic malfunction but that shouldn't happen on a new car. Has anyone else had this problem? Is it common?
  • Wow, that is a great number. What state are you in?
  • i am in PA. I waited until the end of the month to start negotiating and then I walked away a few times...on the January 31st the dealership called me and told me "Good news, we were able to find some money for you and we can offer the car at 489/month."

    I replied, "Oh, okay. If you can give it to me for $485 you have a deal and I will come in right now with the check and sign the papers."

    The sales manager said come on in.

    Looking back...I should have asked for the lower number but I feel I did a job negotiating the price to $485.
  • Hi Everyone. I have been lurking on these boards and have picked up a lot of useful information from you guys. Thanks. I still have questions though and want some pointers to be sure I get a good deal.

    I want an LR2 with the cold package. so one question I have is, when I do a lease, do I roll in the extra stuff I want like roof rails and racks etc and then negotiate the total price or do I negotiate the car + options and then pay extra at another time for the other stuff I want. The salesman I sat down with said that it would cost me less not to roll the rails etc into the lease, but buying it and then giving it to them at the end made no sense to me. Obviously I am a novice but want to learn. HELP.

    I am in Southern California. Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mrj0001tj. The dealer invoice pricing that is available at Edmunds.com is usually very accurate. The most likely explanation for the difference between the number that is listed here and what the dealer that you are working with told you is that they are adding some fees to this truck's base invoice price. The $3,000 dealer cash incentive that is currently available on the 2008 LR2 SE is not compatible with leases through Land Rover Capital Group, however Land Rover is providing a $1,500 dealer cash incentive that is. The dealer may be trying to pocket the $1,500.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi billegoat1. It would probably be easiest to negotiate the total price of the LR2 that you are interested in, including all of the options that you want, at the same time. You can look up the dealer invoice price of the exact truck that you are interested, including any dealer installed options, in right here at Edmunds.com. When negotiating your lease, make sure to take advantage of the $1,500 dealer cash incentive that Land Rover is currently providing on the '08 LR2.

    Dealer installed options are a different animal. Banks often do not allow them to be rolled into vehicles' capitalized costs. As a result, if you want to lease a vehicle that has a dealer installed option you would have to pay for the entire cost of it over the life of the lease either by adding it into your monthly payment or just paying for it up front. This makes them much more expensive than factory installed options are. I personally try to avoid adding options that cannot be residualized to the vehicles that I lease.

    Car_man
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  • dcomberdcomber Posts: 27
    Hi,

    Looking to purchase a LR2 HSE with Tech package in the Chicago area sometime in June and July. Just was wondering what the current pricing should be on one at this time, especially considering the fuel costs and economy. Also want to know what incentives LR is offering right now. Just looking to negotiate a good price on the car for a lease. I'm in a lease for a 2005 Honda Accord Coupe w/ Navi that is in good condition so wouldnt mind trading that in early to another dealer if need be.

    Thanks for all your help.
  • bluesnycebluesnyce Posts: 1
    I got offer a fully loaded lr2 for 38,800 not including tax, license and dilivery charges...I want to lease but i'm not sure I got a good deal.
  • 19g8319g83 Posts: 4
    I have been shopping around the LA area for a fully loaded LR2. Searching these forums I saw that the Land Rover dealer in West Hollywood was a good place to go. Someone said that they were pretty straight forward and would sell for $350 above invoice.

    When I spoke to a sales rep on the phone he told me they were in such demand he couldn't let it go for less than $1000 over invoice. His invoice price was $38,208 which is about $500 more than what Edmunds says a fully loaded Land Rover is.

    When I asked about a lease he told me it would work out to $625/month for 24 months at 10,500 miles a year. Does this sound extremely high to anyone else?
  • sodasusodasu Posts: 1
    How about this deal?
    The Manager sent mail that,
    I have a 2008 LR2 HSE that I can do for $563 including tax with only $1100 out of pocket. I am selling the car for $250 over invoice plus $1500 rebate. Let me know your thoughts.

    or one dealer sent a coupon that $399 w/o tax, 3650 down. for 2008 LR2 HSE. plus $1500 rebate.

    Is this Good deal? both for 24 months at 10,500 miles a year.
  • muddyymuddyy Posts: 60
    Hi, I just noticed the LR lease deal on the LR website, a LR2 HSE (36,150) 0 down, $499 per month, 48 months. That means you pay $23,952 in four years and then you give the car back to them. This deal means no lighting, no NAV and no cold climate. Isn't this a terrible deal? Is that really the only lease deal available at dealers in NY?

    I imagine if you get it with 3 packages, which brings the price to $42,200, then the lease would be exponentially higher, very near the LR Sport which is only $799 per month. Is the LR2 really worth these prices?
  • lem8lem8 Posts: 1
    in nyc looking at new LR2 for 36 mth lease 12k miles 3300 down lease 600 monthly payment. is this in ball park? seems high to me
  • Hello Car_Man

    Would you have the current money factor and residual on an LR2 SE for a 24 month lease

    Local dealer is quoting 0.0039 and 58% for Land Rover Capital. This money factor seems to be very high since it equivalent to a 9.2% interest rate I believe !

    Also do you have any info on the lease acquisition cost from LR Capital . Quoted fees are 795....

    Thank you for your help !

    Wake Forest
  • Hi wakeforest. Land Rover's third quarter lease program is only scheduled to run through September 2nd. Through then, its buy rate lease money factor and residual value for a 24 month lease of a 2008 LR2 SE with 15,000 miles per year are an unbelievably bad .00390 and 59%, respectively. Land Rover obviously doesn't want anyone to lease this truck through its captive finance company right now. Its base acquisition fee is $595, so the dealer is marking it up $200...but it doesn't matter anyhow because you can't lease this truck using such a terrible program.

    Car_man
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  • I was ready to lease a 2008 LR2 HSE and I certainly expected to pay for taxes and title and maybe even the first or last month's payment, but then the dealer said I'd have to pay almost $1000 for an acquisition fee and a handling fee. Isn't that just another way of saying "dealer profit?"

    Can you negotiate out of either of these, or is everyone paying them?
  • Hi luvcarz. The last time that I checked, Land Rover Capital Group charged a $595 acquisition fee on every vehicle that it leased. Anything above that (other than the destination charge, which is part of vehicles' prices) is basically nothing more than a way for the dealer that you are working with to add more profit to your deal. I suggest that you look at the total selling price that you were quoted for the LR2 that you want, including all fees. If you believe that this truck's total price is too high, you should either try to negotiate a lower price with this dealer or shop around with a few other dealers.

    Car_man
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