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Land Rover LR3 Lease Questions
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If the scratches you are referring to are on the leather, I don't know how that is going to turn out good. Please let me know what happens.
Car_man
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My lease is almost up on my 2006 LR3 SE, I had a 24mo 12k yr, and I'm confused on the price of another lease. My 2006 MSRP was $50600, purchase price $47k and my pyt was $531.17 w/$3564.67 down which included everything (1st pyt, motor vehicle, bank fee, doc fee, reg fee, sec deposit). I'm now being told that a 2008 LR3 with the same features (tech pkg) is $744.26 w/$2188.76 due at signing for 24mo's 10500 miles. How could the LR3 go up that much? is this right ??
At the same point they tell my the RR Sport is $729mo w/$3472.45 due at signing for 24mo and 10500yr. If you add all the numbers up the Sport is only $917.45 more over 2yr's......DUH, which one sounds better????
btw....my current LR3's tires are totally worn on the inside due to a factory issue and they offered to split the $2k cost with me. It has 19k miles and I'm giving it back in a month and they want $1k because of a factory problem...has anyone ran into this problem????
I have an unblievable lease on my 2006 as well, which I do not anticipate replicating when I turn ours in next year. Especially as I've read that only a fully-painted Gucci HSE version of the LR3 will be available.
I would replace the GY's with the cheapest tires that fulfill LRNA's minimum req's, which I believe are HR rated and 110LI. Toyo's Open Country HT comes to mind, and is actually a better tire regardless, or the ST http://www.treadepot.com/tirelist.html
Or the new Kumho Road Venture, which Tirerack has for only $116 a piece. http://www.tirerack.com/tires/Sizes.jsp?make=Kumho&model=Road+Venture+APT+KL51
The 2009 LR3 is essentially what a LR3 SE is now.
msrp 55200
purchase price 52200
total capital cost of 45759.95 (includes 7500.00 discount from lease company)
acquisition fee 695
fees and ins 599.95
residual 43%
15,000 miles year
with 1424.04 down
monthly payments included tax 802.45
Would like to close the deal tomorrow 5/4/08
Car_man
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Yes. I have the same problem. $1400 was the cost quoted to me. It is obvious that the air suspension doesn't align properly when driving at normal speeds.
They just decided to tell me at my last service before I return mine. They knew of an issue on my last LR related to breaks, denied it at purchase time and then wanted money at returned time.
I will never do business with LR again. I can take mistakes, but the lying is another thing.
Bring up the class action lawsuit with them and tell them you will pursue it against the dealership and landrover... My dealership tried pulling this crap with me but once I started talking lawsuit and class action things changed very quickly..
Can you quote me just the residual and what kind of a lease fee that I can expect to pay for the following vehicle? I'm in Atlanta, GA.
2008 LR3 HSE, MSRP: $57,950, Purchase Price: $46,475.
2 Year Lease @ 10k per year.
I will be paying the entire lease up front.
My '08 Jeep Commander is just about to be bought back from Chrysler under Lemon Law and I'm getting back a little over $17k, I paid for that lease up front also. I'm hoping, with the great price I'm getting for the LR3, I won't have to come out of pocket with much more.
Thanks,
Car_man
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What were the better lease rates they quoted you on the LR3. I'm trying to decide between a lease and purchase but leaning towards lease. I know you can get good deals on 2008 purchases. Not so sure about the leases.
Thanks.
Currently I got 630 all taxes included for an HS with wood, running boards and other bits and pieces. 10.5k a year which is fine for me.
We have very good credit scores...but the whole car environment has changed. What should one do?
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".
Having said all of this, the market for used vehicles, particularly trucks, has absolutely imploded over the past several months. If I had to make an educated guess, I would say that your LR3's end-of-term purchase option price is likely much higher than this truck's actual value on the open market at this time. If so, you will be better off just walking away from it at lease-end.
You might be able to re-lease this truck, but given the lack of support on used vehicle leases chances are that you would be able to get a better deal on a lease of a brand new Mercedes or Lexus.
Car_man
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I've been hearing Land Rover will start an aggressive lease program for the LR3 in january -- have you heard anything about this? Current lease deals are not so good!
thanks
The most significant changes are to the body with body colored fender flares & Bumpers and the door handles that are now the matte silver color, like the current Range Rover Sport. Minor styling cues are also noticable, but not dramatic. They are also changing the interior colors from Alpaca and Black to a choice of Almond, Tundra, & Ebony. The Almond and Ebony are just like the 2008 Alpaca & Black. The Tundra is a gray.
Strangely enough, the current 2008 MY vehicles that are sitting at the port and were built after October, 2008 are using the 2008 MY body (black fender flares/bumbers) but the 2010 interior colors.
There are TONS of 2008 LR3s sitting at the ports so LR will be dealing extensively on these until the 2010 models arrive in May, 2009. Currently there are some deals on New (not demo) LR3 HSE w/ Luxury - MSRP $57,950, sales price - $40,100.
Heard from a local dealer that Land Rover Capital is no longer the finance arm of LR and they have arranged a new program with Chase. Can someone confirm this and also provide some insight as to what the new incentives might be for lease/purchase ?
Thanks.
Car_man
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If you want to lease an SUV right now, the LR# probably isn't the right model for you.
Car_man
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Leasing is terrible but word from most dealers is that the new Chase partnership will allow for new attractive leasing in April when the 09's start flowing. Dealers continue to quote $15K+ off MSRP on 08's but you forego the 36 month 0% if you take the discount.
I have since been able to get them to drop the price to $35,688 and they have now offered a 42 month lease with 12k miles at $697 per month.
I would like to get some feedback as to how good a deal this really is. I have read some earlier posts which included some pretty low numbers for what appeared to be new vehicles.
I would prefer a brand new vehicle, but I am not sure I would get the same kind of discount
At that selling price, you can buy the car for $700/mo. for 60 months..
If the LR3 is the car you want, that's what I would do..
regards,
kyfdx
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My fears with purchasing the vehicle is that then I will need to get additional warranty coverage for the last couple of years. From what I have been reading in some of the posts is that there can be quite a bit of maintenance issues that crop up after the first few years. In addition, all of the service will be included in the lease, since we won't put that many miles on the vehicle.
I love the look, drive (especially off road), and space of the vehicle, but I am not sold on its long term reliability and I thought that I might try it for 3 years. Based on the ~$14k residual, I could finance that over 2 years and be at the same place at the end of 60 months.
Do you know of any better deals with leases? Should I push to get the money factor lowered? Should I get them to throw in some extras with the lease?
I share your worry about Land Rover's long term reliability, and resale...Having the option of just turning it in is a nice insurance policy. I just couldn't swallow a $700 lease payment on a $36K car... For that amount of payment, I'd be looking elsewhere, but you probably like the car more than I do..
Sorry I can't be of more help..
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It is true there are really no 2009's and the 2010's will be out late spring?
Is a lease out of the question?? :confuse:
Car_man
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I was told by the dealer that the MSRP of truck at that time was $50,770 and that their selling price was $40,770. The options on this truck included GPS, cold weather package, and the lighting group. The dealership also told me that there were a couple thousand dollars worth of additional dealer-installed options that they were not counting in the pricing such as wood grain dash, trailer hitch...I also had a trailer braking system installed afterwards.
A few days ago, I got a call from Bank US that since my lease is ending in two months, I could either return the truck at the end of May or buy it from them for $23,465 plus any taxes, fees and "other charges". On the other hand, they told me that they would also entertain an offer from me on the purchasing price.
I would like to seek your advice on: (1) Are there any reasons that I should walk away from this truck at the end of the lease, e.g., some known reliability issues on 2005 LR3, high maintainence costs, etc? (2) If I should go about making an offer, what is a good starting dollar number in your opinion? (3) If I should decide to return the truck, should I do anything in getting the truck ready before returning it to avoid additional charges from the bank?
BTW, I have about 41000 miles on the truck at this time and its conditions are OK in general. I have already bought another truck (a 2008 GMC Sierra 1500) late last year but could use the LR3 as a spare vehicle.
Thank!
These prices related to a dealership in the DC area.
23k will get you an 07 if you're tough with them. You should be looking in the mid teens. And don't let them put the vehicle number in their PC and give you that value. Its rubbish. Just put the bid in and tell em take it or leave it. These people need cash currently
Trade in - $15,100, Private Party: $17,500, Dealer Retail: $19,500
So is it reasonable for me to start the offer at $15,000?
The Devaluation and frankly complete lack of interest from financing companies to do it mean that if you did you would be financially significantly worse off than buying.
You might get a deal on a Range Rover Sport, because they are pretty flush with them in the US. Saw one the other day at 680 month.
Car_man
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I got a lump of cash off the lease buy out. Something like 7k. The dealer was very realistic and at the point when he started negotiating he was quite clear we were going well under the buy out price.
You can get some unused 08's with all sorts of package add ons and style kits for 37. So a brand new or nearly new.
There is NO WAY, they will sell the thing for 37k. Just let them have it back and go and negotiate for a 2nd hand or frankly a new LR3.
The only exception is when it is out of the dealers hands. But the fact that he thinks he will make money from a used 08 at 37k means he has lost his marbles.
I recon you could buy that car for 30/32 depending on mileage,
I have also seen loads of new 2008 LR3 SEs for the $33 to $37 range, depending on the options. $37,000 for a used 2008 is a little crazy. Although, the buy out price may be out of the dealers hands. My original buy out price was controlled by the Land Rover Capital, not the dealer.
All seems a bit silly frankly