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Land Rover LR3 Lease Questions
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Comments
How does the $1,500 certificate works. I got my wife the LR3 also and they dealer said that the $1,500 certiface only owrked if you got trug a regular lease and not the Land Rover bank lease. Please let me knoe more about it.
My deal 2006 LR3 SE V8 (60 miles only)
Fully load everything except the kitchen sink!!! (Rear-Seats, cold, xenon lighting, blue tooth etc)(no dvd)
MSRP=$55,620
Dealer rebate = $5,000
Land Rove Rebate = $6,000
Sub total = 44,620
Negotiate LR3 at = $46,000 final price (about $1,380 for dealer)
Down Payment = 3K
Money Factor = .00038
Residual Value = 67% (it seem kind of high I was hoping 60%)
36K at lease term
Lease term= 30 months
Lease Payment= $600
Two minor items that I'm going in for repair. The screen on the middle sunroof does not lock and the passenger side seat at the base of the left handle next to the head rest the leather of the seat is off the base of the handle. They said they are simple repair issues.
Color is Red with Tan interiors (it will be hard to keep it clean . I want it balck interiors).
By the way there were only 2 left and there were another couple waiting in line if I did not taken the Red one since they want it. I belive I got a decent deal and I liked the car.
Hope this help
The $6,000 rebate is an Land Rover discount directly to the dealer base from the invoice price. Therefore the Dealer discount between the MSRP and the invoice is the one in question. I believe is just plain market forces (supply and demand) since everyone is looking for these LR3's due to the great discounts. You will have to negotiate at this time. Also it could be that if you are trading a vehicle you are not getting the $6,000 discount from LR Credit. When I was in they quote $52,000 for the SUV if I want it the low Money factor (pay $46,000). Therefore If you can sell the Lariat on your own that will be the best deal with all discounts. You will be in abetter situation.
Hope this help
I'm fairly certain that your dealer is mistaken. The $1500 certificate was sent to me by LRNA after I signed-up for promotions/info on the Web site. I presented it to my dealer after we had already negotiated the price, as I received it between then and signing anything. LRNA actually made a mistake on the ones they initially sent-out, and my dealer had to go all the way up the food chain to resolve it and get me the discount. They applied it to the lease cap to bring my monthly down. Looks like you got a great deal-regardless.
Where on the LRNA I need to go? I input LRNA.com and the site does not exist. Even though I already made the deal this past weekend 01/06/06. I will pursuit the extra $1,500. I need any savings I can get.
Thanks for followin up. However I need the correct site to input my information and receive the certificate.
Thanks again
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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.
Thanks!
Also, do you know if Land Rover dealers are limited to a maximum MF markup like, say, BMW?
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.
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???
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.
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!!!!!
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.
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.
I was quoted $599 for a dealer demo- $0 down, 24 months, 15k miles a year w/ taxes.
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
This is a 2006? What are the terms and mileage? Where in the heck is this?
THanks!
/Jason
At what point did you present the $1500 dollar certificate to the dealer ?
Will they accept it as part of your out of pocket cost at signing ?
Thanks.
Thanks!
I've been looking for an LR3 lease and have a few quotes that are very different. Please let me know if this is a good deal and if I can negotiate the MSRP down. I don't know what the invoice price is for this.
'06 LR3 V8 with blue tooth, climate control, 3rd row seating
MSRP: $48,700
30 month lease
Money factor: .00133
Residual: 60%
lease cash: $3725
addt'l discount: $4,000 b/c its used
adj cap cost: $41,570
monthly payment with taxes, no money down: $583
if we put $1,000 down it is $546
I got another quote from a different dealer for identical vehicles that had a monthly payment of $836 with tax. The residual ws 52% and MF .00281. He said he was selling to me for $500 over invoice ($48,367).
Should I be happy with the first one? What sort of room do I have to negotiate between invoice and MSRP?
Thanks for any help you can provide.
2007 LR3 V8 SE_____________$48235 $43894
bluetooth/sirius package_______$800 $728
total________________________$49750 $45337
Also dealer #2 is giving you the money factor for the '07 and I have no idea where 52% residual came from.
Deal with dealer #1, dude.
leased 06 lr3 hse fully equipped all listed brochure options with tax included 30 mo 10,500 mi per yr $665.00/ mo nothing down
msrp $56,700
love the car, some quirks but nothings wrong yet at 1500 mi
jp
I would like to know what exact model of LR3 you leased with this quote? Was it a 2006 or 2007 model?
Thanks for your response,