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Land Rover LR3 Lease Questions
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Comments
Thanks,
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 sales tax in NY at 8.375%.
The money factor is .00106
resd. 64 lease end value $34,880
The bank fee and first month is waived
What do you think is this a good deal
I am not sure what the availability of '07 LR3s is like in your area, but the '08 models have been out there for a while now so I suspect that the supply leftover trucks is getting a little thin.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Let's take a look at the selling price that you were quoted. According to the latest information that I have seen, Land Rover is currently providing $1,730 lease cash on the 2007 LR3 V8 SE. Plus there is a spread of around $4,800 between its full MSRP and its dealer invoice price. That gives you a total of around $6,500 to play with in your negotiations. You were quoted a discount of around $5,400 on the specific unit that you want. That probably puts you at around $1,100 or so over invoice, which isn't bad. You definitely should stop by the following discussion though 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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Do you have information on Land Rover Capital Group's fourth quarter programs, specifically residual values and money factors on a 2007 LR3 SE V8 at 12 and 15k miles per year? Also, if you have info on any available lease cash that would be very helpful.
Car_man
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I am in the market to lease the above in the next 30 days. I was just quoted $922 per month with $2,417 in inception fee's (no down payment) on the above with no special options. 36 months, 15,000 miles. That seems out of wack for a $55,000 truck. What should I expect to lease an '08 HSE for and how can I get the best deal? I am a novice to leasing, and I kinda understand what I've read about residuals and money factors, but...
can you just tell me a payment and upfront fee's that I should expect to pay for an '08 HSE? I really appreciate your help!! Thank you!
wow
You won't ever hit that on a 2008 LR3 though. There is almost 3,000 dollars of lease cash from Land Rover buying down the lease for 2007 MY LR3s.
In short, the best way to get a good deal on a lease is to negotiate as low a selling price as possible on the vehicle that you are interested in and then have the dealer that gives you that price calculate its monthly payment using its buy rate lease money factor.
I would be happy to work up a sample lease payment on the LR3 that you are interested in if you provide me with its full MSRP, approximate selling price, how long you want to lease for, and what mileage allowance you need. You can look up this truck's MSRP and dealer invoice price by visiting the New Vehicle Pricing section of Edmunds.com. You may be able to get an idea of how much you will have to pay for this truck by visiting the "Land Rover LR3 Prices Paid and Buying Experiences" discussion. Let me know what this information is and I'll crunch some numbers for you.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2008 Land Rover LR3 SE
$579 per mo 24 mos
$3,295.00 down payment
$595.00 acquisition fee
$0.00 security deposit due
10,500 miles per year
$4,469.00 total due at signing
MSRP $50,600.00
Auto, 4WD, 8 cyl, 4 dr, a/c, pwr win/lcks/mir/sts/str/brks, leather heated seats, AM/FM/CD, dual & side airbags, moonroof, traction, cruise, alloys, ABS, alarm, rear wiper, rear defrost, keyless.
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'08 LR3: $579 x 24 = $13,896 total pymnts. Inception incl 1st mo pymnt $579, Down pymnt $3295, Acq fee $595, Sec dep $0. MSRP $50,600. Residual $33,396. Stk# 85166. Vin# 8A449243. All lease/prices incl all costs paid by consumer except tax and MV fees. Lessee resp for insurance. Subj to credit appr by prim lender. Severity of credit may effect down pymnt. Lease incl 10.5k miles/yr 25¢ over. Pic for body style only, actual eqpmt may vary. Offers cannot be combined. Residency restrictions may apply. See dealer for details. Not resp for typos. Offer ends 11/30/07. Land Rover Larchmont Lic# 7089260
I have been quoted $4,000 out of pocket, and $640 inclusive of (NJ) taxes per month.
Is this a good deal?
Which may be a better dealer in the Philadelphia area, as they had quite an attitude?
Thanks, because I would like to get back into a Land Rover, having once owned a (trouble free!) Disco and an older (troublesome) RR.
LRCapital seems to offer a balloon payment program. Is this structured exactly like a lease in terms of residuals and the interest rates? I presume this will allow me to depreciate the vehicle as if we own it and not just the lease payments.
Is this program available in all states?
Does anyone know if LR Capital will negotiate residual values? The truck is only worth about $33K at the most. I have heard some leasing companies will negotiate residuals. Is this something the dealer would have control over?
Thanks for any info.
If someone with good knowledge can respond here that would be great.
Car_man
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I would be happy to give you a detailed analysis of this deal, but you never mentioned this truck's selling price or MSRP. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. Let me know what these numbers are and I'll tell you what I think.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
If your truck's purchase price is less than or in line with its current real world value then you may want to consider buying it. If not, just walk away and lease or purchase a new vehicle.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2008 LR3 SE with Cold Climate Package: $599/month* with a 24-month lease and a $4,687 initial payment
Security deposit waived. Excludes taxes, title and license fees. *New and previously untitled vehicles only. Not all lessees will qualify for lowest Land Rover Credit lease. Payments may vary. Residency restrictions apply. Lessee responsible for excess wear and mileage over 21,000 miles at $0.20/mile. Lessee has the option to purchase vehicle at lease end at price negotiated with dealer at signing. Initial payment includes: $3,493 down payment, $595 acquisition fee, $0 security deposit and $599 first month´s payment. Take new retail delivery from dealer stock by 3/31/08.
I am looking for the same lease, unless there is a better rate on a 30 or 36 month lease.
Looking at some of these deals people are getting it looks like the residuals are now a lot worse. My lease was based on a 73% residual I believe.
Anyone gotten a good deal on a lease in the So. Cal. area?
I am due for a end of lease soon, love the car, and am turned off at the price when comparable models with the same mileage are on ebay around 3-5K cheaper than my buy out price...
Can you negotiate the buy out price and if so has anyone had any success doing so?
I turned the vehicle in with low miles. I leased an 08 LR3 HSE that was a service loaner and got a really good deal and big discount off the MSRP. The money factor and payment is less than my 06.
Good Luck!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I may be doing the same lease of an HSE loaner. Can you let me know your deal? My deal is around $635/mth before taxes; 30 mths; 15,000 miles/yr; no money down.
Your deal sounds pretty good, especially if it has the luxury package and all of the options. I am in Atlanta and bought mine locally here. Where are you located?
Money factor .0019, with $7500 dealer incentive. 36 months 15000 miles/yr. I am also trading in my 01 Wrangler 4cy 72000 miles for $6200.
Monthly payment is $685 with a buyout of $24,653 at end of contract.
This is my first lease and I new to money factors, rent charge, etc. It seems that if I lease instead of buy I will save $4000 after I buyout.
The purchase price for the vehicle is $54,600.
Does this seem like a fair deal?
Deal #1
54.1k sales price and lease for $796/month
Deal #2
51.3k sales price and lease for $826/month
I think deal #2 is trying to make up the difference by charging me more interest but I didn't get the money factors out of either dealer. I have a leasing agent in TX that has done leases for me before through US Bank (apparently US Bank is starting to do LR leases for LR Dealers too)
Both would prefer to sell me something out of their stock but I want a color that neither has in stock so both are willing to find me a truck.
I won't know anything more until tomorrow at least. Let me know what you decide. I'll post what I find out.
1-Is there a mileage charge at buyout, if not I want it in writing.
2-Does the leasing company charge ANY fees for oving out of state, in writing.
3-There is a $400 disposition fee if you do not purchase the vehicle, is there one if you do. In writing again.
This link was helpful http://www.carbuyingtips.com/lease5.htm
I have leased more than 10 higher end cars in my life and I almost always exit them a little early. I have also moved across country with leased cars several times. No one has ever asked me if I put too many miles on the car when they get my payoff check. No one has ever even batted an eye when I turned a car in 2,000 miles away from where I leased it. Heck I've leased several vehicles from dealers more than 1,000 miles. You can ask about #1 and #2 but I don't think that LRCG or US Bank will give you any hassle at all. #3 I'm not sure about as I haven't paid that close of attention to it.
1- Sunroof not working, tested it at dealership, hour later wife tried and no go!
2- Scratches that we not repaired on drivers seat as requested, they will have to refinish seat.
3-Sat. Radio says "acquiring signal" every time I change stations, could be ant. or bad signal. The Sat radio still works but takes 10 secs to acquire signal.
Oh yeah I was extremely disappointed with the detailing job the dealership did, 55K on a vehicle and they did a $30 detail job.
However I had the best salesman and the best buying experience I have ever had.
Dealer is checking them all out on Monday.
The procedure is in your owner's manual but I think I can recall it from memory.
Press the close button and hold it for about 30 seconds but up to a minute might be required.
Now try to open the sunroof and if it opens hold the open button till it is fully open then hold it for 30 seconds to one minute. Now press the close button again and again hold it for 30 seconds to one minute.
The exact procedure is in your owner's manual just look in the index under sunroof.
No idea on the sat radio thing. It could be a lot of things from something wrong with the satellites in your area to an antenna or module problem. I had a LR3 I delivered one time where the SAT radio module never got programed at the factory so even though the car had the SAT radio option it didn't recognize anything. They tried to reprogram the module but it wouldn't take so they had to just replace it.