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Land Rover LR3 Lease Questions

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Comments

  • bethrbethr Posts: 51
    are you talking about the 1500.00 coupon? is the 599 a false add? because if you have the 1500 coupon it should be around549.00 a month and they are saying nothing down? it sounds too good to be true-
  • british_roverbritish_rover Posts: 8,458
    They probably don't know about the coupon yet.
  • bethrbethr Posts: 51
    we did not give ours until payment and it brought it down quite a bit- but is it really 599 or 749 a month before the coupon-
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, chrislr3. The MSRP is a good start, but you really need to find out this truck's selling price as well. It's tough to tell how much of a discount you are being given on your LR3 without this number.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You never mentioned the selling price or MSRP of the LR3 that you leased. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks for the additional information, Beth. OK, so you are interested in leasing an '07 LR3 V8 SE that has an MSRP of $56,100 and a selling price of $52,800. After backing out the $1,730 lease cash that is currently available on this truck, you are getting a dealer discount of around $1,570. This does not strike me as much of a discount on a truck that probably has a spread of nearly $5,000 between its full MSRP and its selling price. I personally would shoot for a lower selling price than this. Make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Land Rover LR3: Prices Paid & Buying Experiences".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello notanother. The money factor that you were quoted is right in line with Land Rover Capital Group's current buy rate for a 24 month lease of an '07 Land Rover LR3 SE V8 7 passenger. This is a good thing because it means that the dealer you are working with is not trying to mark your truck's factor up to add additional hidden, back-end profit to your deal. The selling price that you were quoted for this truck looks good to me. The two main profit centers for dealers look good. If you like the truck, I personally don't see any reason not to go for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tryingtobuyone. This truck has a spread of around $5,000 between its full MSRP and its dealer invoice price. Plus Land Rover is providing $2,130 lease cash on it (that certainly is an odd number). This gives you a total of just over $7,000 to play with. It looks like you are being given an $8,725 discount on this truck, which is a very good price. Make sure that the dealer that you are working with uses Land Rover Capital Group's current 24 month buy rate lease money factor of .00153 to calculate your monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jwgmd. It's great that you know both the MSRP and dealer invoice price of the truck that you are considering leasing. Do you know what its selling price is as well? Are you getting it at invoice? As far as this model's incentives go, Land Rover is currently providing $1,730 lease cash on '07 LR3 V8 SE and $595 lease cash plus the waiver of one's first payment on '07 LR3 V6 SE models.

    Car_man
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  • timslr2timslr2 Posts: 11
    This is legitimate. It is the LR dealership in Alexandria, Va. I asked about the coupon and they said they would honor it too. My information is the ad they have on the website, plus conversations with the Internet Sales Manager (who happens to be the owner's daughter).

    Check it out . . . there are, though, only 6 or so that are being offered.
  • british_roverbritish_rover Posts: 8,458
    You can't back the lease cash out of the deal that way on LRCG leases.

    The lease cash must be used as cap cost reduction and/or to pay inception fees.

    She is 1,400 or so above invoice right now which would be a very good deal in my market.
  • bethrbethr Posts: 51
    the car was 56,050 he sold it to us for 51,050 plus we used the 1500. certificate- 24 x 551 includung tax
  • jwgmdjwgmd Posts: 6
    I'm not sure what the buying price is but I think it's 45937 (invoice). the cash incentives are added to the amount we're putting down so the monthly payment is 289 including tax. should we be trying to get a better deal? it sound like we're just getting what the LAnd Rover is offering and not much more.
  • jwgmdjwgmd Posts: 6
    THis is all the information I have
    MSRP 49850
    Invoice 45937
    residual 33898
    money factor 0.00188
    monthly 289 (includes tax), 10.5 K miles
    total down 5897
    including floormats and getting it in Black.

    We're in Los angeles. I'm hoping to make this deal in the next few days. DO you think there is room to deal? Dealership doesn't seem to be budging much.
    I would appreciate your input. :confuse:
  • bethrbethr Posts: 51
    it is a good price
  • bethrbethr Posts: 51
    is the 5897 your out of pocket and taxes? if it is that is a good deal- figure for every 1000 it is around 30 more a month so even with the 5987 down it is still a good price
  • kyfdxkyfdx Posts: 64,692
    On a 24 month lease, each $1000 is about $45/mo. after finance charges and taxes...

    $30/mo. is a good rule of thumb for 36 month leases, though...

    MODERATOR

    Prices Paid, Lease Questions, SUVs

  • bethrbethr Posts: 51
    good to know- the 07 drives better then the 05-
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jwgmd. Dealer invoice is a very good selling price for an LR3 right now, especially if the lease cash that is available on it is being added to your down payment. Make sure to check what your truck's exact selling price is before finalizing your deal.

    Car_man
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    Prices Paid Forum
  • jwgmdjwgmd Posts: 6
    we took the plundge and got the LR3 with a purchase price of 44257 for the Java Black. I hope it was a good deal. i was tired of waiting and the salesman didn't seem to want to budge any more. All the other sales people in the area didn't seem to want to match it so we assum we had a good deal
  • lhr7lhr7 Posts: 11
    Does anybody know where to find the $1500 coupon? I have verified the $599 deal for the HSE and I am going to sign this week. However, I would love to use the coupon if anybody knows where to find one. I am up for a deal if anybody wants to deal.
  • bethrbethr Posts: 51
    i know it expires at the end of this month- you can call landrover and ask-
    where is the 599 a month hse- is their anything down?
  • lhr7lhr7 Posts: 11
    I have called the dealer and verified the $599 deal with nothing down. But, I am looking for the coupon now.
  • bethrbethr Posts: 51
    where is this?
  • lhr7lhr7 Posts: 11
    It is at the Alexandria, VA landrover dealership. Also, the Rockville, MD dealership will match the price. The deal is legit.

    The deal is the following:

    2007 brand new lr3 HSE
    Options: Luxury and Satelite radio.
    All taxes and tags included (VA, MD, DC residents)
    Lease is a 24 month/ 10.5 k miles per year lease
    Residual is 37,000
    cost is $25 per month extra if you want 12 k miles per year

    Black costs $400 upfront if you want that color. Otherwise any other color.

    Best of all....First month payment is waived

    BUT, I am still looking for the $1500 coupon if someone has one to see if they will also take the coupon.
  • lhr7lhr7 Posts: 11
    I just signed for my lr3 HSE. Black on black with Luxury and Satelite. 24 month/ 12k miles per year. $621 a month including taxes and tags. No money down and my 1st payment was waived.....The deal is real I paid a little extra to get 12 k miles instead of 10.5. My residual is 36,500. THANK YOU SO MUCH FOR THE ADVICE AND HEADS UP on the deal in VA.
  • timslr2timslr2 Posts: 11
    I was there today ro get an LR3. For a variety of reasons, I ended up with an LR2. but, if you have the LR coupon, the rate goes to 531. Hurry. Only 5 or 7 left!
  • bethrbethr Posts: 51
    did you like the lr2 better
  • timslr2timslr2 Posts: 11
    Tjey are very different. The deciding factor was size. I felt that being in cities as much as I am it would be easier. Also, gas cost and my partner, Lisa, was more comfortable in the 2. If I were doing it all myself, I would probably have gone for the 3. But, an SE. I will not have a use for 7 seats.

    I did get a great deal on the 2, using Z-plan pricing, but the lease was more money. LR2, Cold Weather, first payment only down, 24/10 and it is about 520.
  • Hi all:

    I just returned from the LR dealership in Redwood City CA in search of the $599 lease on an LR3 to no avail. They had the money factor listed in this forum (0.00188), and a cash incentive, but they couldn't come close to $600 on an HSE. They were actually a couple hundred higher at best with 0 down @ 24mo.

    Is this special for the east coast only? Or is it a national promotion? I found a $699 a month special on Landrover.com for a V8SE.

    Is it possible this promo was for 2006 models only?

    Thanks,

    James
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