Land Rover LR3 Lease Questions

CarMan@Edmunds

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Land Rover LR3. Thanks.

Car_man
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schutzhund1

Hi, looking for lease information on this SUV. The HSE model with the V-8 fully loaded with DVD and Nav system along with the 560 Watt sound system and 19" wheels I believe. Can someone give me an idea what the current rate is for a Lease at 15K miles per year for 36 or 48 months.
Thanks for whomever helps or replys to this question. Mark

CarMan@Edmunds

Greetings Mark. I would be happy to give you an idea of what this truck's current lease program is like. If you were to lease a 2006 Land Rover LR3 HSE V8 with DVD and navigation through Land Rover Capital Group right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00295 and 58%, respectively. the numbers for an otherwise identical 48 month lease should be .00335 and 46%. Land Rover is providing cash incentives on both leases and purchases of '06 LR3 V6 models right now, unfortunately it is not giving any cash support on V8 models.

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jcomeaux

hey car_man,

quick question

how do I get landrover capital to negotiate purchase price on a lease return vehicle?

jcomeaux

CarMan@Edmunds

Hi jcomeaux. There really isn't any sort of specific method that will guarantee that the bank that you are leasing through will lower your leased vehicle's end of term purchase price. The best way to go about trying to get them to do so is to place a call directly to Land Rover Capital Group a month or two before the scheduled end of your lease to see if they will be willing to lower your truck's purchase price. If your initial contact there is unwilling to work with you, you may have better luck if you work your way up to a manager. During your conversation, be sure to give the impression that you are right around your truck's mileage limit. If you are way over, they may want that large excess mileage check that they have coming to them and if you are way under your truck is more desirable to get back. There certainly is no guarantee that they will be willing to lower your truck's purchase price, more often than not banks won't, but you don't have anything to lose by asking. Good luck.

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hvf

Hi Car_man, could you review the following numbers and tell me if this is a rip off:
LR3 HSE
MSRP 55825
LEV 70 %
MFSR 0.00307
Tax 1513
Bank fee/gap 595
cod 2334 monthly 775.99

hvf

53208 selling price
again 775.99 monthly

kyfdx

hvf.. You'll also need to include the term and mileage allowance of the lease...

regards,
kyfdx
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hvf

mileage 15000/yr for 30 mts
thanks

hvf

Hi ,, could someone review the following numbers and tell me if this is a rip off:
LR3 HSE
MSRP 55825
LEV 70 %
MFSR 0.00307
Tax 1513
Bank fee/gap 595
cod 2334 monthly 775.99
53208 selling price
again 775.99 monthly
mileage 15000/yr for 30 mts
thanks

shodorov

What is the current money factory on a 30 month lease for a V8 SE? the residual i got was 77% which is the highest i have ever seen but I think the dealer is padding the money factor (0.0032)
thanks

hvf

money factor 0.00307

rwalker4

Just picked up my new 2005 LR3 last night and wanted to share some info. Got a 30 month lease with $1186 down and a payment of $485/mo. for a non-used service loaner with a V8, cold climate package, rear seat, and rear park assist. Since it was a service loaner (even though it only had 179 miles on it)they were able to knock off $4400 off the list price of $47,515 and then an additional $5000 in Land Rover incentive. This brought the cap. cost down to $38,135 and they even applied a $700 rebate to the down payment to bring it down to the $1186 listed above. I think I got a great deal and couldn't be happier with my new LR3.

I think these numbers are only good on 2005 service loaners that are left over. They are just trying to move them out.

CarMan@Edmunds

Thanks for all of the additional information, hvf. OK, first let's take a look at this truck's selling price. You are being given a $2,600 discount of of its full MSRP, which isn't bad. However, given the typical spread between this truck's full MSRP and dealer invoice prices this is probably still over $2,000 over invoice. If you are in an area where there is a lot of competition for your business, I would not be surprised if you were able to beat this deal. You may want to stop by the following discussion to see how much other community members have paid for similar trucks: "Land Rover LR3: Prices Paid & Buying Experiences".

The lease money factor and residual value that you were quoted for this truck are in line with Land Rover Capital Group's current lease program for it, but are still not great. The residual is strong, but the money factor is terrible. This is a great time to lease an SUV right now. There is a lot of competition out there and the potential pool of buyers shrank some once gas prices went up. Unfortunately, the LR3's lease program is not that great.

I just calculated a lease payment on this truck using the prices and lease program that you mentioned in your post and I came up with a zero down, pre-tax monthly payment of around $755. If the payment that you were quoted does not include tax, it looks as though it is a little off.

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CarMan@Edmunds

Hi shodorov. I haven't seen the exact lease program that you are looking for, the 30 month term, but I can tell you want the 24 and 36 month lease programs are like for the truck that you are interested in. If you were to lease a 2006 Land Rover LR3 SE5 V8 through Land Rover Capital Group right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00293 and 76%, respectively for consumers who qualify for its top credit tier and pay a security deposit. The numbers for an otherwise identical 36 month lease should be .00295 and 63%.

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CarMan@Edmunds

Congratulations on your new truck, rwalker4! Thanks for taking the time to share the details of your deal with everyone.

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british_rover

Yeah if you can find a 2005 service loaner that is the way to go. You can get incredible deals on them. Your particular car was probably either a VIP service loaner that was never used, I had one of those that I sold for a similar amount that had only 85 miles on it, or was a service loaner involved in the gas tank recall. It probably got punched as a service loaner and then just a day or to later the gast tank recall came out and it could not be driven any more. I have a couple of LR3's like that as well.

shodorov

rwalker14 - which dealer did you get that deal from? thanks

karla2

rwalker4 - sounds like you got a great deal - it's exactly the type I'm looking for. Can you tell me the name of the dealership and city/state?

shodorov

Car_man, do you know if this is true or a line im being fed? my dealer has a lot full of 05 leftovers which have a 5k rebate. The catch is he can only sell them to me but not lease per Land Rover.

thanks

rwalker4

I got the deal at Land Rover Akron in Akron, OH. Hopefully they still have a few 2005 service loaners left.

I received both a $4400 discount for the service loaner as well as the $5000 rebate for a lease on my LR3.

CarMan@Edmunds

Hi shodorov. I believe that you are being told the truth. Land Rover's normal dealer cash incentives cannot be used in conjunction with its special lease program. Land Rover is providing a $700 cash incentive for leases through Land Rover Capital Group right now though.

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bmk007

hi congrats on your LR3 deal. If you don't mind me asking what kind of payment and term did you get on your lease?

thanks.

shodorov

I hate to tell you this but for the benefit of others on the forum here goes: I worked back the 485 number with the other numbers you mentioned in your otiginal post - and it looks like you did not get a 5k AND a 4.4k discount - but just a 4.4k discount. with both discount your lease payment would be in the mid/low 300's

Check your contract again. the cap cost should be in there. if it is indeed in the 38k range you need to talk to the dealer.

british_rover

In order to get the 5k rebate you must use the Land Rover standard lease program. The standard lease programs have much higher money factors and lower residuals but because of the 5k rebate it is actually cheaper to go that route. We have been using this leasing strategy ever since the 5k rebates came out. By doing this you can actually take 5k off the car and then also use the 700 rebate from land towars cap cost reduction. This works out good for everybody the customer gets a lese payment they could never get other wise, we make a good amount of money on the front end of the car cause of the rebate while still showing a substantial discount. And finally we make a good amount of money on the back end since the money factor is higher then the special lease.

vt100

Hi Car_Man! I've just been quoted the following # for
2k6 LR3 SE with Navigation, Lighting Package, Cold Weather package, blue tooth, cooler box (i don't want this 2 options but that's what they have their stock packed with).
The quote was:
$620/month for
putting total of $3000 with title/tax/bank fee/ deliver charge, etc... no security deposit.
The Money Factor used is 0.00307 and residual is 77% ($39,7323)
That's a 30month lease with 10k/month allowance.
I've been told if I put down the security deposit of $695 I get a MF of 0,00297 and a monthly payment of $616.
Is this a good deal, feedback appreciated.

Thanks

vt100

If anyone else has a comment on this your feedback will also be appreciated. Time is of the essence and I'm pretty much ready to lease, just want to make sure I'm not making a mistake.

thanks people, and happy holidays!

manoftaste

Hi all, i was just quoted the following numbers for lease and purchase, and i would greatly appreciate it if i could get some feedback before i pull the trigger....thanks. Also, the follwoing numbers were quoted to me without me doing any negotiations, etc. I just told them that i would get back to them...

FOR LEASE:
2006 HSE (with Luxury pkg, Heavy Duty PKG)
MSRP: $55825
Quoted Price: $52500
Miles: 15k
Money Factor: .00307
Residual: 70%
Acquision fee $595
Down payment: $1496.21 (without taxes)
Monthly payment: $793.88 (includes taxes)

FOR PURCHASE i was quoted $52500

Also, i recently receive a $1500 discount coupon from Land Rover in mail. And a few days ago i had also received a 1500 discount offer from LR when i was surfering their site (a pop-up window offer). Am I entitled to one of these discounts on top of the negotiated price with the dealer?

anxiously awaiting replies, thanks...

tie1on

Hi & I am gald I have found this discussion. I have picked up an LR3 for test drive and was given some lease figures from the dealer and am not sure if it's right or not. It's a '05 LR3 - SE loaded - MSRP of 52,295. They will take the $5k invcentive off and give me the tax credits. They say the residual is 66% @ approx. $38k. The discounted price is approx $47k. My payment on a 30mo. w/ 20k miles per year is $899. (remember- no tax) Is that a good deal? I hope someone responds to this quickly. I plan on returning the truck to the dealer this morning...

british_rover

There is an aditional 700 rebate you can get from land rover to use towards cap cost reduction make sure they are using that. For a 20k mile lease I guess that sounds about right. It looks high to me but I guess that is just cause I am used to using 12k and 15k leases.

tdo123

Carman - I am hoping you are still watching this forum.

I am trying to work out a lease or buy on a 2006 LR3 HSE V8 with a sticker of 55,525. As of this year, they are telling me that the residual has dropped from ~70% to 68%. That seems really harsh to me and can't tell if this is from LR or the dealer.

Do you have any info from LR that can give us some numbers.

I am looking for 15K a year on a purchase of 52,255. Any thoughts?

mrwizard32

Hello all. The wife and I went to the local LR dealership (Anaheim Hills) and took the LR3 for a test drive last weekend. The off-road course was really impressive, but the on-road was what we liked the most. As a result, we're seriously considering the vehicle.

So, we're looking for an '06 HSE (or perhaps an SE7-nav) and the typical sticker price is about $55K (HSE+luxury package). Without any negotiating, the salesman told us that a $0-down 48-month lease would be about $850+tax/mo. This seems quite high if you ask me. An equally (street)priced Navigator is about $660/mo for 39-months.

So, what I want to know is... What should I expect to pay for this vehicle? What should I expect my monthly lease rate to be (looking for either 24 or 36 month). What would be a fair price/rate? What would be an amazing price/rate?

Perhaps some of you could advise what the effective purchase price for your vehicle was and what your lease rates are? I'd need to know what the lease term is, and the number of miles per year (12K/15K) and if possible. There are other important things like the money factory (effective APR) and the the residual value, but I don't expect people to know those off the top of their heads.

For instance:
MSRP: $55K
Negotiated purchase price: $53K
Lease: $700/48-mo/15K-year

Cheers,
-Alan

men2a

Hello.

I just obtained a quote from the nearest dealer from my city, which is in Albuquerque, NM. After reviewing some of the postings on this page, I realize that they are quoting extremely high for a 39 MO. lease. Here's what they propose.

'06 LR# HSE
Sell Price $ 55825.00 +
10" DVD, tow hitch + mats $ 1120.00
15K miles per year.
Money factor .00314
Taxes and 1 month security deposit up front +
$ 591.00 on fees.

Monthly payment of $ 978.00
The sales person did not mention any rebates whatsoever.

I would appreciate any offer suggestions to make to the dealer or any leads to other dealerships where I can get a better quote.

dellman

I just leased an LR3 HSE, 30 months, 12K,(Heavy Duty, Luxery package, rubber mats) MSRP $56,475 for a selling price of $52,281.96. $614.00 a month plus sales tax. Alittle less than $4,000 down.

CarMan@Edmunds

Hey tdo123. Individual dealers do not have the authority to alter banks' residual values, so the number that your dealer told you is probably correct. If you tell me how long you want to lease this truck for, I can tell you what Land Rover's current residual value for it is.

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CarMan@Edmunds

Hi Alan. I can give you an idea of what this truck's current lease program is like. If you were to lease a 2006 Land Rover LR3 HSE through Land Rover Capital Group right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00207 and 71%, respectively. The numbers for an otherwise identical 36 month lease should be .00259 and 58%. If you were to lease with only 12,000 miles per year, this truck's residual values would be 2% higher.

I'd be happy to give you an idea of what sort of lease payment to expect to pay on this truck right now, however in order for me to do so I need you to provide me with its full MSRP and an approximate selling price. You may be able to get an idea of how much you should pay for one right now by visiting the following discussion: Sylvia, "Land Rover LR3: Prices Paid & Buying Experiences" #, 3 Mar 2005 6:49 pm.

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CarMan@Edmunds

Hi men2a. The lease payment that you were quoted does look a little high. There are two ways that you can reduce its payment. the first is to get the dealer that you are working with to lease it to you using Land Rover's buy rate lease money factor. Land Rover Capital Group's current 39 month buy rate lease money factor for the 2006 LR3 HSE is .00264. It appears as though the dealer that you are working with it attempting to mark this factor up to add additional hidden back-end profit to your deal.

The other way that you can lower your lease payment is to negotiate a more attractive selling price for the truck that you want. I don't know how much of a discount you are being given on this truck because you never mentioned its selling price, but a base '06 LR3 HSE has a whopping spread of over $4,700 between its full MSRP and dealer invoice prices. There is a lot of room to negotiate in there.

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ddwinell

Hi Car_man,

Interested in knowing how you source the information you have on Land Rover Capital Group's current lease programs? For those of us that have to ask ;-), assuming the money factor is the same, what would the buy rate lease residual be for 24mnths/10k miles on the 2006 LR3 HSE? Is it fairly safe to assume in most cases with Land Rover that it will be another 2% over the 12k miles residual? How often do the money factor/residual values fluctuate with Land Rover? Want to get a feel for whether it is safe to assume that if I see lease program information on this site from three days ago, it is probably still current.

Thanks,

ddwinell

bikeswimrun

My disco ll lease is up and I want to get a LR3. Is there any special programs for leaseing LR3 se7's I won't get the HSE. I prefer to lease. I can calculate the payments from the other info available here but is there any mfg to dealer money not shown on Edmunds Incentive site??

CarMan@Edmunds

Hi ddwinell. I am not aware of any resource that provides information on manufacturers current lease money factors and residual values to the general public. If you were to lease a 2006 Land Rover LR3 HSE through its captive finance company right now for 24 months with 10,000 miles per year, its buy rate lease money factor and residual value should be .00207 and 74%, respectively. The residual values for 10,000 mile per year leases for Land Rovers are only 1% higher than its 12,000 miles per residuals. Unlike a number of other manufacturers that change their lease programs every month or every other month, Land Rover usually only revises its lease program on vehicles quarterly.

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CarMan@Edmunds

Hi bikeswimrun. That sounds like the username for a triathlete. If so, I'm impressed. My triathalon usually consists of type, scroll, click . Anyhow, Land Rover is currently providing $1,000 dealer cash on 2006 LR3 V6 models, however this cash is not compatible with its special lease program. In your post you mentioned that you currently have a Disco. That is good news because it means that you probably qualify for the $1,000 owner loyalty cash that Land Rover has available on the '06 LR3. This cash is compatible with the lease program.

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gspringer

Hi Car_man,

I'm looking at leasing a 2006 LR3 HSE within the next few days and wanted to see if the previous Money Factor and Residual Numbers talked about last month are still valid.

I'm looking at either 24 or 36 months for lease term and 12K miles per year.

Thanks!

gspringer

Hi Car_man,

I'm looking at leasing a 2006 LR3 HSE within the next few days and wanted to see if the previous Money Factor and Residual Numbers talked about last month are still valid.

I'm looking at either 24 or 36 months for lease term and 12K miles per year.

Thanks!

british_rover

Land Rover keeps their leasing programs the same normaly through the end of the quarter so no changes yet. We will probably get new leasing programs on Monday April, 4th.

bgardin

I would appreciate you posting the new rates when they are established for the new quarter.

Also, someone mentioned above $4700 difference between MSRP and invoice for the HSE. Anyone know the difference for the SE?

BTW, I'm in Los Angeles, if that makes a difference on any of the rates/pricing.

Thanks!

CarMan@Edmunds

Hello gspringer. If you were to lease a 2006 Land Rover LR3 HSE through Land Rover Capital right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00132 and 70%, respectively. The numbers for an otherwise identical 36 month lease should be .00202 and 58%.

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CarMan@Edmunds

Hi bgardin. I'd be happy to give you an idea of what the LR3's new second quarter lease program is like. In order for me to do so though I need you to tell me exactly which model you want, how long you want to lease it for, and how many miles per year you need to be able to drive it. As far as this truck's pricing goes, you can find all the information that you need in the following section of this site: Edmunds.com - New Vehicle Pricing.

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patrick18

I would like lease info for a 2006 LR3-SE7, MSRP-$50,500, 24 month lease, 10,500 miles a year. The salesman quoted me a sales price of $49,000, and with $0 down, he qouted me an intial payment of $1,690 at signing, and $768/month payment. This seems high to me. Any info would be helpful.

swanrs

Car_man:

Looking for a little help...

I'm wanting to lease a 2006 HSE LR3 (MSRP of $55,600) for 36 months and 12,000 miles. I negotiated the price down to $51,400. Using a residual of 58% and a money factor of .00202, rolling in taxes of 6.75%, and putting no money down, I can calculate payments (using Edmunds calculator) at about $815 per month. Over the phone, my dealership agreed to all the numbers, but gave me a monthly payment of $940. He told me there were other "fees and factors" involved that brought the payment up. Am I missing something? or should I just move on to another dealer? Any help you can give is greatly appreciated.

madiscl

car man (or anyone else that may be able to help),
i'm considering leasing an LR3; my local dealership has a 2005 SE w/3900 miles, listed at $41,900 (I'm thinking i can get the net cap cost down to $38k). I have a trade-in, but my payoff is about equal with the trade-in value; however i can put a couple thousand down, if necessary. i would like to get into an LR3 lease with a payment less than $500...is this possible, or am i dreaming?

british_rover

You could have done it back in December but the 2005's don't lease out well anymore so you waited too long.

You might be able to hit that payment if you pick a 2006 V6 service loaner. They have stronger residuals then the left over 2005's.