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Land Rover LR3 Lease Questions



  • Hi jsandova. Let me get this straight, the dealer that you spoke with didn't want to provide you with any discount off of a 2006 Land Rover LR3's MSRP? If so you were right to walk away from this deal. Don't worry about the incentive program expiring either. Land Rover is still providing lease support on the 2006 LR3 in January. In fact, it introduced $3,725 lease cash on the 2006 LR3 V8 SE this month. This cash will help you to negotiate an attractive capitalized cost for your lease. If this dealer is still not willing to provide you with a discount on this truck, try shopping around with another dealer or two.

    Prices Paid Forum
  • You're very welcome, sparch.

    Prices Paid Forum
  • Hi bigsexcg. Land Rover extended the $6,000 dealer cash that it has been providing on the 2006 LR3 through April 4th. It still has a special lease program on this truck, but its month factors and residual values are different. Plus, it introduced new lease cash on select models. Specifically, it is now providing $3,725 on '06 LR3 V8 SE, $3,650 on LR3 V8 HSE, and $1,000 on LR3 V6 models. It is also waiving lessees first month's lease payments on V6 models.

    Prices Paid Forum
  • Hi lsleelee. These trucks' lease programs vary by trim level, term, and mileage allowance. I would be happy to give you an idea of what these trucks' current programs are like if you provide me with this information.

    Prices Paid Forum
  • Car_Man -

    I had no idea there are such great deals on left over '06 LR3s. So if I'm looking at a HSE with a msrp of $56k, what type of discounts are available? Is the $6k dealer cash, $3,650 in lease cash and this mysterious $1,500 certificate available for a total discount (before negotiating) of $11,150? What is the most advantagous lease terms right now for 15k/year? 24, 30 or 36 months? Please provide residual and money factor information.
  • LR3 V8 SE & V8 HSE, Range Rover Sport HSE & Supercharged, all for 36mo/12000K. Thanks.

    Also, do you know if Land Rover dealers are limited to a maximum MF markup like, say, BMW?
  • bgsntthbgsntth Posts: 91

    The $6K can only be applied to a purchase, not a lease-I believe. You can combine the lease cash and $1500 certificate to bring the cap cost down. My deal is above, but I think the residuals and money factor have changed.

    So did your GX470's lease end? Mine did.
  • Car Man,
    I just received a quote on 2006 LR3 HS V8 (with moonroof, and cold weather pacjage, and satelite radio). Pleas elet me know if it's a good deal. Here a re the numbers:
    MSRP: 50,000
    Dealer Cash: 4,000
    My cash contribution: 4000
    Cap cost: 42,650
    Lease term: 24 mos
    Resid %: 65%
    Money factor: .00045
    residual value at lease end: 32,500
    Monthly lease quoted (inldudes all taxes and fees): $385.19

    What do you think???
  • bgsntth - Thanks for the information. That is what I was afraid of. Negotiating with area dealers for the best deal on a left over '06.

    Sold the GX about a year ago on ebay (would buy another in a second if they made the second row of seats pass through to the third row (no idea why SUV makers don't provide this option)).

    Anyways, bought a Odyssey Touring last year, but wife doesn't like a minivan. We rented a LR3 while on vacation last month and really liked the setup as the third row is useable on a daily basis for our 3 kids. LR3 is the only SUV which offers this functionality that we have found and the only real alt to a minivan. Given how frequently we seem to trade cars, no interest in buying but would rather lease to avoid the resale/trade hassle. Trying to find a third party lessor that has respectible residuals and mf so I can still use the LR $6k dealer cash rather than the $3.6k lease cash.
  • bgsntthbgsntth Posts: 91
    Is this an SE or HSE? How many miles per year? My residual for 30month/10.5K is 68%, so yours seems low if it is an SE or the same miles. LRNA extended the terms I bought mine under: zero drive-off/599 per month, which goes down to $548 when you apply the $1500 certificate. This is for an V8 SE w/ every option except navigation.
  • This is for a SE 7 seat with every option but nav. 24 month lease with 65% residual and 10.5k miles. My cap cost price with all reductions in $38,700 down from $51.5k msrp. My contribution including all taxes and fees is $3,000, meaning the dealer and LRA put almost $10k in as lease cash. I plan to pick up tomorrow. I cannot find a better lease deal anywhere near comparable.. I feel pretty confident on this one, but sure there is always a better deal somewhere...
  • h2oleoh2oleo Posts: 6
    My 2002 Freelander developed a coolant leak, so my dealer says I need a new engine. They are also telling me that the Land Rover Assured Extended Warranty (provided by APCO) is not going to cover it. The long and the short of it is that they said they would like to get me a "great deal" on a new LR3. This is what they have offered me:

    2006 LR3 SE V8 with rear seat package/cold climate package/satellite radio
    Lease Terms: 30 month/12K mi
    MSRP: 49700
    Purchase Price: 47,100
    Bank Fee: 595
    Net Cap Cost: 47695
    Money Factor: 0.00093 (This seems good to me)
    Residual Value: 59% (This seems low, but may be appropriate given how late it is in the year)
    Bottom Line: no money down. no trade. 673.81/month.

    They said they are using the 3725 lease cash to pay for the license fees and other fees, and the rest is was taken off the MSRP. It basically sounds like they are not giving me any kind of discount themselves, and only the 3725 from LRNA. My questions are:

    1. Would it be better to apply the entire 3725 lease cash to decrease the net cap cost?
    2. What would be a "reasonable" purchase price to negotiate for the vehicle?
    3. How do I get one of these $1500 rebate certificates?

    I am stuck with this dealership, as it is the only one in San Diego, and my Freelander engine is currently half disassembled in their shop, but they did off me $8000 for tradein from the Freelander, and I'm not sure anyone else would give me that much for it. Still, that should not preclude them from giving me a good deal on the LR3...

    Any thoughts or advice would be greatly appreciated!!!!!
  • I just leased the same vehicle, price, options everything. Here is my deal
    MSRP 49700
    Gross Cap 46986
    Bank Fee 595
    Net Cap 47581
    Adjusted Capital Cost 44790 (includes $2,500 cash plus 1,500 rebate-fees)
    money factor .00199
    residual 69%
    $499.99 plus tax
    I did this deal at the end of December, they were running a deal for $599.00 with no money down on a vehicle more loaded than ours but I could not find any that had all of the options.
  • HI. See may earlier message from Friday on HS 7 V* LR3 lease. I believe you are paying way too much. Between lease cash from LRA and dealer cash, you should at least be able to get $7-$8,000 off MSRP. I recently negotatied two leases for this vehicle ( I went to another dealer when I was not satisfied with the 1st). You should be able to negotiate a capitailized reduction cost (which includes all dealer cash and LRA incentives) around $42,000. If you cannot get with a $1000 of this, then your dealer is holding back. The $3,000+ they said would cover all your taxes and fees is B.S. Sure a portion of it will, but not all. I was given a purchase price of $41,000 for the $49,000 msrp model and $42,500 for the $51,000 msrp model. MY final cap cost, which included a $3,000 contribution from me, was $39,500 (original msrp was $51,400). My 24 month lease price with all taxes and fees is $385.
  • h2oleoh2oleo Posts: 6
    Thanks for both of your replies. It looks like the $599 lease deal in still in effect until 4/3/07. Unfortunately, there are none left with all of those options. One dealer just told me that to honor that deal, they would put me in an SE7 with sat, but no cold climate or Lighting Package, and I'd still pay $599. Unbelievable.

    I plan to try once more to negotiate the price, and if that doesn't work, unfortunately I think I have to go to the BBB for the Freelander issue. The San Diego dealership has truly been a disappointment.
  • the $385 lease sounds to good to be true
  • jacebcjacebc Posts: 4
    I'd love to get the details of the $385 lease too!

    I was quoted $599 for a dealer demo- $0 down, 24 months, 15k miles a year w/ taxes.
  • Hi, I'm the one with the $385 lease deal. Actually, now it's $389 due to changing from Green to Black (which Land Rover charges an additional $400 for).

    So here are the terms:
    MSRP: 51,000 (although window sticker reads 51,400, the $51k number is what the dealer is using)
    Selling price before LRA cash: $46,250
    LRA contribution: 3,725
    My contribution to cap cost reduction: $3,000
    Final cap cost reduction price: $39,725
    Money factor: .00045
    Residual percentage: 67%
    Residual value at lease end: 33,500
    Total monthly lease payment (includes taxes, fees, etc): $389

    When I plug these numbers into the Edmunds lease calculator, it shoiws monthly payment should be even less. Regardless, I could not find any better numbers that come close to this deal (and I looked at Volvo XC90 V8 and Honda Pilot EX).

    Welcome comments. Hopefully you can match this or do better. Good luck
  • Can someone post the rate/residuals for 07 LR3 SE & HSE?
  • jacebcjacebc Posts: 4
    What a deal!!

    This is a 2006? What are the terms and mileage? Where in the heck is this?

This discussion has been closed.