Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see May lease deals!
Options
Land Rover LR3 Prices Paid and Buying Experiences
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
07' LR3 SE loaner, 5K miles, lighting/cold climate/sat radio/blu.tth-41,5K (2 available)
07' LR3 SE loaner, 5K miles, lighting/cold climate/sat radio/blu.tth-42K (4 available)
I contacted just 2 dealers and they seem ready to deal. Anyone have lease numbers;
residuals/money factors for July?
Anyone think there's more room to maneuver here? I wish I could get some feedback from others looking right now.
Bo
I offered 10K off on an 07' loaner SE and the two salesmen I talked to didn't flinch, and you can get more off the HSE.
Bo
Anyway, sounds a great deal to me. I wonder where that monthly could have gone down to with only 10.5k miles PA?
I may have left it too late (lack of 07 stock in or near CA) but I was also looking for an even more aggressive deal. I guess I am going to be signing for something other than an LR3.
I was wondering: how did you get to your selling price of $11,300 off of MSRP? I assume that this includes the $6000 incentive that Land Rover is currently offering, but that still seems like a great price and I'd like to duplicate it here in New Jersey, if possible. I have gotten a quote on a 2007 LR3 SE Loaner, 4700 miles, MSRP $54,500, selling price $49,500 and then, with addition of Land Rover Lease Cash of $2325 selling price comes to $47,175. The Lease is for 24 months (dealer said that was the best term, price-wise), 10,500 miles per year. The residual value is %64 and the money factor is .00131. This ends up costing $673.91 per months with taxes, etc. included. Now, that seems ridiculously high to me. Land Rover is offering a deal of $699/month for a ***NEW*** LR3 with Cold Climate Package, Bluetooth Telephone option and Xenon headlights! I really need some advice here! Can I add/use the $6000 Land Rover "Cash to Dealer" on a lease? And if not, why does Edmunds list the TMV pricing report on the same LR3 SE that I'm looking at as $46,567? Help. please. Also, where did you get your deal, if you don't mind me asking?
Thanks in advance for your help (I really don't want to get ripped-off!)
David in NJ (DWWS)
The Edmunds TMV price report on the LR3 SE like mine is $606 *LESS* than my quote of $47,175 and the Edmunds price is for a NEW LR3 and my quote is for a loaner with 4700 miles!
David in NJ (DWWS)
1. You can't take the dealer cash and the special lease. The dealer cash is already built into the lease through the 2,325 dollars of lease cash and the special .00131 money factor. That money factor translates into an interest rate of 3.144 percent. How do you think Land Rover gets that interest rate down to half or so of the average new car borrowing rates? They buy down the money factor with cash using the balance of that 6,000 dollars of dealer cash left over from the 2,325 dollars.
2. You aren't comparing like car to like car. The 699 lease is on a LR3 with a MSRP of around 51,000 dollars. You are leasing a car with a almost 4,000 dollars more equipment. Also the advertised lease probably does not include tax. Rarely do advertised leases include tax because it can change depending on where you do the lease.
You are leasing a more expensive car for less then the ad price including tax.!!!!! That 699 lease with taxes is probably in the mid to high 700 range depending on if you have property tax in New Jersey.
My only question then is: is there any way to get a deal similar to the ones mentioned by kmasso and Bodid? They both mention that they got $10,000 - $11,300 off sticker price on their deals. I am still about $3000 away from that point. There is a dealer in Virginia who is advertising a new 2007 LR3 HSE with Cold Climate Package for $41,997 and a new 2007 LR3 SE with no options packages for $41,050. Do you think that is a reasonable price to shoot for in NJ on those types of cars? That is less than the selling price of my quote on a Loaner LR3 with 5000 miles on it and, in the case of the HSE, isn't that a little closer to a similarly equipped car? Also, how can an HSE be less than an SE with fewer options? I know that these are stupid questions, but this is only my second time leasing a car (I moved from Manhattan to NJ 4 years ago and I never needed a car in NYC). Any help would be most appreciated. I would really like to determine what the absolute lowest lease price is that I can achieve for an LR3 (which is exactly what everyone else wants, too, I guess!)
Thank you in adavance for your help; I cannot afford to waste any money here (3 small children tend to eradicate anything that might be considered "disposable income"!)
David in NJ (DWWS)
I got the following deal in NJ a week ago:
2007 LR3 SE V8 Buckingham Blue with Alpaca interior, Tech, cold and lighting package.
24 months with 10,500 miles per year
MSRP is $54,500
Capped at $49,110
Montly before TAX $681.95
$1784 due at signing which includes motor vehicle and doc fees as well as NY sales tax(NY at 8.375%).
The money factor is .00106
resd. 64 lease end value $34,880
The bank fee and first month is waived
I Used $1500 coupon to cover initial payment.
Hope this helps
Where did you go for this deal? Was the $1500 coupon in addition to the $2325 "Lease Money"? Was your LR3 new, or was it a "Loaner" with minimal miles on it (around 5,000?) I'm sorry for all the queries, but I really need to figure this stuff out.
Thanks so much and congratulations on your new Land Rover!
David in NJ (DWWS)
I think you could grand or so off the purchase price of that LR3 but no more.
Tell them to rework the lease with a selling price after the lease cash of 46,000 even and see what they say.
Thanks again; I'll keep you posted!
David in NJ (DWWS)
I got it from Woodbridge. The $1500 coupon was in addition to the "Lease Money"? The LR3 i got was new with 9milles on it. Check with LR Paramus they had few in stock and were willing to match my deal. So, far I'm enjoying the Land Rover!
Good Luck.
If anyone reading this can talk agressive discounts and a good MF / Residual then let me know ASAP. Great credit, no trade and am willing to travel for the right deal! (CA based).
Thanks again everyone for great information and insight.
Our 2005 Lexus 330 is about to go back.
We are looking at the Lexus GX 470, but we did look at the LR3 back in January and really liked it, but didnt want to pay what the dealer was offering.
We would like to get an 07 LR3 HSE with 18K miles a year and be under or around $600 for 36 months. Do you think this will be possible?
No not a chance. You might be able to get a LR3 SE without Nav for that price without putting a ton of money down but that is it.
You do realize the HSE LR3 is over 55,000 dollars right? A 55,000 dollar car doesn't lease for 600 bucks a month for 18,000 miles a year without a ton of money down.
I sold an ex-service loaner LR3 SE with nav last week. I think the lease on tha tone is about as close as you will get.
With property and sales tax the lease was a little over 700 dollars a month for 15,000 miles a year and 2,500 dollars down.
offer 2; SE with Teck Pack, fully loaded, MSRP: 54K Dealer quoted 43?
without further talk with the dealer, Which one to take?
I contacted the local dealer for a price on a lease for a LR3. They gave me the "standard" offer now, which is on a 2008 LR3 SE, $4000 down, $599 plus tax a month, 36 months and 10,500 miles per year.
I assuming they are going off the MSRP of this truck? Are all of these terms negotiable, or are they set by the Land Rover Finance group? I'm fine with the lease length and miles, but would certainly like to get into the lease with as little money out of pocket, or bring down the monthly payment a little.
Thanks!
Aaron
Is this a good deal?
thanks
I purchased two LR vehicles from the United Auto Group dealerships here in the Phoenix area. UAG throws in a small customer loyalty bonus that ranges from $500 to $1,000, and I think I got them to throw in the load area mat on my last LR3, which is a few bucks more. Otherwise, I don't try to drive a hard bargain as I want dealer support if I have a problem. So far so good.
I think the other impediment to price shopping is that you usually can't play off one dealer against another unless you're willing to go outside your area. UAG owns both LR dealerships in Phoenix, and I'm not going to go out of town to save a few bucks.
If I can get them to take $55k or $2k off would I be getting a great deal or just so-so?
Any idea what dealer incentives they have going on? Edmunds.com doesn't show any but both dealers have mentioned that there is some "lease cash" out there.
I'm waiting on initial lease quotes from two dealers. No one is being terribly responsive.
Total monthly = $600
Total out of pocket = $2500
We're in Bloomfield, NJ.
Good deal???
With the recent high price of gas, residual values of SUV's has tanked, so going pre-owned a year or two would save you a lot of money on the bottom line, and you'll still get a generally good vehicle.
My 2002 Range Rover was going out of warranty and a lease on another car was expiring so I need two cars at once.
Maybe I could have even done better going out of state (I am in FL) but what LR did was unbelievable on the 2008 BRAND NEW LR3s:
2008HSE Java Black with Satellite radio and full (three row plus cargo) heavy duty LR rubber mats:
Sticker: $55,600
Bought: $39,500
2008 SE Gray with bi-xenons and satellite radio and full rubber mats as above
Sticker: $50,800
Bought $34,500
These are less than 4Runner prices!
Even better, my dealers were honest and told me to buy my land rover assured exclusionary extended warranty (including tire road hazard coverage) out-of-state because there was a $1K rebate that Florida dealers could not honor.
So, contacted a Colo. dealer and got the 7year/100K max warranty for each car, with the $1K rebate, and the dealer even gave an additional $400 off for each warranty (total, $3,600 each). Still not cheap but way off retail prices for these warranties.
I bought before Dec 31 but I think there are still deals like this, if you can still find any 2008s.
Also, the 2008s included the first six factory services for free and the 2009s do not.
What amazing deals, unheard of for LR (I have been a LR owner since 1995 and never seen anything like it).
Even got the 1.9% 60 month financing on one of them!
LandRoverGuy, Florida
also, did you buy them in FLA? What is the best state to purchase in?
I want a used 2008 LR3 and have found 30 within 50 miles of me but they all seem priced around $36k? any thoughts on what I should be paying?
I bought at Land Rover Fort Lauderdale and Land Rover North Dade, these are in south Florida.
The Colorado dealer I got the warranties from said he had new 2008 LR3s at similar or maybe even higher discounts (but I prefer a good relationship with a dealer close by). I think it was Land Rover Flatirons.
These were over 2 months ago, though, so I don't know what is available. It is true that, on Auto Trader, I did see used 2008s priced higher than what I paid, but if there are no new ones left then you are stuck.
Good luck!
Guy
My LR3 lease is up in May. It doesn't look like any good lease rates on the horizon, so am looking to purchase my next LR3. I have started my search early as I want to take advantage of the low prices on the '08 LR3 demo's. "Red Tag" prices are around $36k, but one dealer told me that they are working with every client on price. I have asked them to come in at $30k for a '08 LR3 SE demo w/ cold climate and blue tooth (MSRP of around $51k).
Two questions to the forum:
1) is it realistic to expect a dealer to go down to $30k?
2) should I be in a hurry to buy or will the current inventory of '08's not deplete until May (and increase my negotiating leverage)?
BE CAREFUL ON THE DEMOS, though. These vehicles are already in-service for warranty purposes. On the two demos my dealer could locate, mileage was low (around 5-6K) but one year of the warranty had expired. This is a huge issue given the cost and, sometimes, frequency of repairs. If you plan to buy and trade in a couple of years, no problem. If you keep for a long time like I do (I warrantied mine for 7/100K), or if you private sell to maximize your value, then this is a real issue and, to me, more than worth it to pay more for brand new and have the full warranty.
Good hunting!
In the end I separated the deals (kept the Series II for now) and didn't budge on price. They had 3 new LR3s on the lot and I got the gray/black exterior/interior colors I sought.
So far I am happy on the car (at $14k below MSRP) and hope to drive it for the next 10 years like my last one. Now I need to find some of the aftermarket accessories at a better price.