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In addition, there is a vibe going out that there are not a lot of SE's available and you can't order certain color combinations, it's leftovers only in preparation for the HSE's which will sell at a premium price and offer no lease incentives (at least there are none on the LR site). I think it's possible that the lease on a 42K (loaded) HSE may be over $700/month.
But that being said I'm not sure I believe anyone right now, LR is always slow to give details. It may be possible to get an SE of your choice now with that lease price. I suspect it's just temporary and applies to leftovers because of one simple fact: how can the dealers handle the anger from people who are leasing the same car for $550 a month right now when they see that new lease price?
I questioned the additional $100 more for NAV, but he claimed it was because of the higher rate and lower residual. For an X3 the Nav is only $40/mo more - but the Nav cost is about $1K less. Still, the SE with NAV is much more.
Re: rates on the HSE, he mentioned they were around 4.6%? From what I've heard, many of the new HSE's coming in at first will not have Nav to keep the price and payments down.
The first HSE LR2 lease I did came out at almost 900 bucks a month. I almost choked on my tea.
We want a lease that offers the lowest possible monthly payment with the minimum down. The best I have been quoted so far for minimum down after talking to 2 dealers is:
10,500 miles
24 month term
$615.00 per month inc. tax
Money Factor: .0027
Residual: .69
Down payment: Just over $1000 including first month I think. Can't remember exact figure.
MSRP is 37,900 and they have not lowered that yet. They say since they don't have the car and I may have to factory order that they don't come down off the MSRP. My wife wants the Pixel interior but can accept the wood if she has to.
This is a US Bank lease.
I also asked what the up front money would be to make the payment $450 per month including tax because that is her current payment on her A4. They said $5600.
I am going to put a deal together this weekend and would like to be armed with some advice. Can I please get some feedback on both deals above? Still seems very high to me.
Thanks and Happy Thanksgiving.
I'm also coming off of an X3 lease and considering leasing an LR2. Strongly consider getting an SE instead of the HSE, because the lease programs are much better for the SE.
I've been given a deal of $400/mo incl. taxes for a 24 or 30 mo. lease (only $6 difference) with $3K down for an LR2 SE with heated seats and 10.5K/yr, but no light backage. My cap cost is $500 over invoice.
You'll probably pay over $100/mo more for the HSE to obtain some minor changes to the wheels, a new lower body trim, additional seat adjustments, a small cover on the console ... Other than that, there is no change to the engine and the SE and HSE are pretty much identical. Also, any options seem to require nearly full amortization over the term of your lease and jack up the monthly payment. So, you want to consider eliminating the lighting package if you don't need it - and an SE instead of the HSE.
Good luck.
I drove the LR2 last night in Cary, NC. The dealer basically offered a deal at invoice within just a few minutes of talking - I assume the market must be terribly slow here... I would really like any help w/ the money factor and residuals for a LR2 SE + cold climate and lighting - no tech...
- 15k miles/year
- 24 & 36 months
Other posts have referenced a 69% residual for 36 mo & 10.5 mi/yr, so I'm assuming a 15k residual will be somewhere around 65% - would really appreciate some confirmation of all.
I'm expecting payment will fall somewhere around $450 including tax, which makes this a pretty compelling buy, compared to the RDX and X3 - agree?
Thanks,
Ken
In some areas of the country there seems to be more inventory of the LR2 SE than others. Apparently, they are no longer shipping the SE to dealers, only the HSE. So, if you want certain options and colors, it will probably be more challenging the longer you wait. The best deal I could find was $500 over invoice in LA. Even though your dealer may be able to give you a deal near invoice with what he has on his lot, be sure he may not be adding some additional fees. And, if he needs to find the options and color you want than different thnt what he has, you may need to spend a bit more - if he can get it.
I believe the 12K lease was about $15/mo more than the 10.5K lease for 30 mos. I have for $410/mo incl. all taxes & fees with a total of $3k down. Obviously, the amount you put down will vary your monthly payment. I believe the heated seats added about $20/mo and the lighting would add over $30/mo. So, when you add your options and additional miles, it would probably be about $100/mo more than for a base unit with no options. If you can get your deal for under $475/mo it would seem to be a pretty good deal. If you exclude the lighting option, you could probably get a deal around $450.
With regards to the lease term, the monthly is only a few dollars more for a 30/mo than a 24/mo, but the 36/mo lease jumps up quite a bit for the special SE financing. So, you may want to do 30/mo instead of 36/mo to get the best deal.
In LA, there are very few 2008 X3's available, and as a result, the lease deals are not very attractive. A similar deal with my preferred customer status was over $500/mo. for the X3. The only good thing, is that adding Nav is only about $25/mo more and the luxury package includes blue tooth and Sirus for 3mos. free. So, the X3 with tech is actually about the same as the LR2. The RDX may have a better deal than the X3, but it's the worst of the three to go off road and it's interior is inferior, in my view. The tech stuff in the RDX is the most advanced in just about any vehicle I've seen, but they made it more complicated to use than it should be.
Good Luck.
Car_man
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I test drove an LR2 HSE last weekend with the wife and we both really liked it. I've heard the best time to buy a car is at the end of the month, so I plan to lease this one Friday if I can get a good deal.
My questions are:
-What would be a good lease deal in Los Angeles? I’d like an HSE in Stornoway Grey with all the options, but would consider an SE if the deal makes sense. Ideally I’d like 12K miles (10.5K would work if the rates are better) and a 30 month lease (24 would also work).
- What are the current money factors and residuals for an HSE and SE with all of the options? I’d really like to have navi and cold weather packages, but should I exclude the lighting package to get a better deal?
-And lastly, should I wait until next month, or is now the right time to buy?
Thanks for the feedback,
Ryan
Price: 3 packages 35,000
Term: 30 months
Milage: 12,000
Down: 2,600 (which was minimum)
Monthly: 550
If we took off tech/nav it was 450/month
I didn't ask about the lease on HSE, though they did say there was no incentive and no discount on HSE. I have heard the lease for HSE is over 800/month, though I find that hard to believe.
12,000 miles per year; 24-month lease; $1300 down / due at signing.
Residual value: 68% ($26,316.); money factor rate .00320
Monthly payment: $798.64
What do you think?
We really like the SE and want to make a deal before year-end.
Here is the deal we were offered on a 2008 SE with cold climate package only (i.e. no NAV and no lighting_
MSRP: 35,400
Sale Price 33,400
LEV% 69%
Lease-end value 24,426
MF .00134
Amount Due at signing $1,514.68
Monthly payment: 484.53
This is a 24 month lease with 10,500 miles per year.
Is this a good deal?
Based on what I have read here they should be able to come down more on the price (ie closer to $30K which I think is invoice).
Please let me know what you think.
Thanks
The best deal I thought was SE no nav for 499 mo for 24 months no money down 10,500 per year.
$500 out of pocket/drive off
$405/month (including taxes)
30 month, 10.5K miles/year
White Ext/black interior, no options (stripped). I head there are only a few of these stripped models in S Cali.
Loving this car so far, except gas mileage and Land Rover reliability (hopefully they fixed that with this car). There are other quirky things - no cover for sunroof, no cover for center console cubby, key/fob situation (double work), have to push radio buttons on steering wheel hard to change, etc.
Loving the luxury feel, safety and hopefully taking it off-roading during some Land Rover excursions
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You might have heat issues on 90+ degree days, I would think....
Good deal, though..
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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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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.
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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Car_man
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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?
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.
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
Car_man
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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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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.
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?
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.
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?
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
Car_man
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Can you negotiate out of either of these, or is everyone paying them?
Car_man
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