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Land Rover LR3 Lease Questions
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Any thoughts? Good deal? Bad Deal? Thanks alot.
2006 V6 LR3 Loaner car Silver/Alpaca Cooler Box, Cold Climate Pkg, Rear Seats and Rear Climate Control, Blue Tooth, Lighting Pkg and Rear Park Distance Control MSRP $50500 ...This will have about 5k miles on it.
24 months/10,500 miles per year/ $498 per month/ $2788 total due at signing ( these include 7.375% ny tax, $262.50 dmv fee, $595 bank fee, refundable security deposit and first month payment)
Also, here is what I was offered on Loaner SEs:
2006 LR3 Se7 Black/Black v8 Cooler Box,Cold Climate Pkg, Blue tooth, Rear Seat and Rear Climate Control MSRP $49750 selling price $43875 Loaner car about 5k miles on it
15k miles per year/$510 per month with $2846 total due at signing (includes NY taxes)
2006 LR3 SE7 v8 Silver/ ALpaca with Cold Climate Pkg, Lighting Pkg with Rear Park distance control, Blue Tooth and Rear Seat Pkg with Rear Climate Control MSRP $50500 selling price is $45269 loaner car also with about 5k miles. 24 months/ 15k miles per year/ $519 per month with $2870 due at signing or
24 months/ 15k miles per year/ $499 per month with $3325 due at signing.
Hope this helps
2006 LR3 V6 demo. MSRP $43k, negotiated price of $39,900, $2900 down (trade-in equity & cash) to be applied to first month payment, security deposit, doc. & processing fees. 24 mo. lease, 12k miles/yr., 69% residual and money factor of .00097. monthly payment just above $500. does this all seem reasonable?
I would look to put down less than the $5,500 plus I have to roll in about $3K in payments on a lease I want to give up. So I'm looking for a payment in the mid-$600
06 LR3 SE, V8, bluetooth, satellite radio, sunroof, 6 disc changer, loaner car with 2900 miles.
with GA taxes, $555/month, $1067 down, 15k/yr, 30 month lease.
not that it matters, but was this a good deal or not? thanks in advance.
When you arrive at a more attractive selling price, make sure the dealer that you are working with uses Land Rover's "buy rate" lease money factor to calculate your truck's lease payment. Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of an '06 LR3 SE7 V6 with 10,500 miles per year are .00098 and 70%, respectively.
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2006 LR3-SE7, 1,100 miles (loaner), 2 yr, 15k lease
-lighting package, rear seat and climate, cold package, wood trim, roof racks, and rubber mats;
-MSRP - $50,100, cap cost $44,720, residual $35,928 (around 71% of MSRP)
-MF 0.00157
-$580/month payment (includes sale and excise tax) Just depreciation fee and lease fee was around $493/month.
- about $1,500 upfront (first, $600 security, plates & registration).
For 36mos/15k miles per year the quote is $855/mo. Drive off is $1263.
This is in the los angeles area. Comments on whether either one is a decent deal.
I am seeing newspaper and online ads for leases at around $400/month, with a $5000 initial payment for LR3 V8 SEs with MSRPs at $50,000 (no rear seat, or no navigation), so the numbers they qupted me didn't seem too far off. Do you think I can get a better monthly payment or negotiate for a lower drive off fee?
New guy here....can anyone confirm if these are good numbers for me ?
2006 LR3 SE V8 with lighting pkg, cold climate pkg, and rear seat with Climate pkg.
MSRP-$50600, will sell it to me for invoice-$46900, or lease it for 2yrs, 12k yr, MF.00167, residual 73%, down pyt $2179.33 (bk fee, doc fee, sec fee, 1st pyt) and monthly payment of $596.33....
do these numbers sound good or can they do better ??????
would appreciate any info.........thanks
Would appreciate any input.
the LR3 HSE that i leased sounds pretty similar to yours, except i have the sirius package already pre-installed in my car. and i'd love to get those cross bars installed, but then my LR3 wouldn't fit in my garage!
so what color combo did you end up getting?
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The other negotiable aspect of your deal is your truck's selling price. You really need to find out what this number is. Not only will it show you how much of a discount you are being given, but it will enable you to calculate what its lease payment should be.
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I found out the reason why the payment was higher than what you came up with. Lots of undisclosed fees that the sales guy finally disclosed. 350 or 500 or WearCare, 595 acquisition fee and I think 600 for bank fee.
How necessary are these fees? Can I get them to waive them. Sounds like Njlr3's lease of $641 for a HSE with 10,500 miles is a straight lease without all of these fees included.
You don't have to buy wearcare if you don't want but if you do not buy it you have to put down a security deposit. Security depsoit is equal to your monthly payment rounded up to the next 50 dollar incremant.
600 bank fee is totaly bogus that does not appear anywhere on a LRCG lease contract.
Please tell me if I might have got a bad leasing deal. A week ago (5/30), I saw an ad on the paper by a local Land Rover dealer that they had a new 2006 LR3 SE with a MSRP of $50,770 that they were selling for $40,770. When I went into the dealership asking to see that car, I was told that it was a mistake on the news paper's part. This was actually a 2005 model, and by the way, it also had 1600 miles on it. I test-drove the car and it seemed to be in good shape. The dealership told me that there were a couple thousand dollars worth of additional dealer-installed options that they were not counting in the pricing. Although I was unhappy with the misrepresentations, I thought $10,000 to $12,000 off on the car was still a good deal, so I decided to discuss leasing the car with them.
My leasing terms were 36 month, 15,000 miles/year and with the least amount of out of pocket money. I was told that since it was a 2005 model, they had to go with a commercial bank but that had a very good rate. The lease payment that they worked out for me was $728.44/month (7.5% tax included) with $943 out of pocket (Including the first month payment and paper work. There was no need for security deposit but I will have to pay a disposition fee when I return the car at the end of the lease.) Just to make sure, for comparison purpose, I asked them to work out the payment for the case if I would have leased a new 2006 LR3 SE with exactly the same options and same leasing terms using Land Rover financing. The factory options on both cars included lighting package, cold weather package, convenience package, rear park distance control, navigation system and a tow hitch. After crunching through the numbers, they showed me a lease rate that was more than $200 per month higher. I asked them further if they were using the MSRP value for the 2006 car calculations. They assured me that they were using a realistic sale price not the MSRP. With that information, I signed the papers and took the car home the next day.
Upon reading the postings by "Car-man" and others on this forum today, I came to realize that I probably could have leased a 2006 LR3 SE (and without the 1600 miles on it) for near the same level of payment that I am having now. I priced out the 2006 LR3 SE with the options mentioned using Edmunds.com tools, it came out at $51,050 MSRP and $46,520 invoice. What would the fair leasing payments for such a car be? Was I misdirected by the dealership? Was the lease rate they quoted me for the 2006 car off base? If this is the case, will it be too late for any recourses such as negotiate for reducing the length of the lease to 24 months? Thanks for your help.
Interested in leasing the LR3 HSE w/ options. MSRP from Edmunds is $55,850 & Invoice is $50,888. Got a lease quote from a dealer: MSRP $55,950 & the selling price/cap cost is $51,352. 15,000 miles per year for 30 months, money factor is 1.61%,residual value @60% ($3,3570) with minimum drive off, payment is $751.82 plus tax. Please let me know if it is a good deal.
I'm also interested in leasing for 24 or 30 months at 15,000 and 18,000 miles per year. Would you please run the numbers for me? Is it better to lease a LR3 V8-SE model with MSRP $53,100 Invoice $48,895 Selling Price/Cap Cost@47,895. Please advise.
Thanks a lot!
2006 LR3 SE w/Cold Climate Pkg, Lgt Pkg w-PDC, Rear Seat & Climate Pkg
MSRP $50600, got it for invoice which is $47000
2yr lease w/12k a yr
MF .00167 (I know its .00157 but they claim there's a processing fee mixed in there.....whatever)
Residual is 73%
$1500 coupon from LandRover good for New Purchase or Lease on LR3 (all I did was inquire on the LandRover home page and they sent me a coupon......it also had $2k of Range Rover but wife wouldn't let me get that one) I highly recommend going on the website and filling out the inquiry form.....it's found money.
so apply the $1500 to the $47k invoice px and now I'm down to $45500 sale price.
$2064.67 out of my pocket....$595 bk fee, $550.00 sec deposit, $212 Registration and title fee, $7.50 MV tire fee, $169 doc fee, and $531.17 1st month payment.
so that's the final number a month....$531.17 for 2yr/12k lease.....I think I did very well....due to all the info I got off this site.
so Thank you all !
http://www.leaseguide.com/calc.htm
Can you state exactly where you inquired? Was it just to request information?
http://www.landroverusa.com/us/en/Vehicles/home.htm
go to the "request information" window and fill out the form. I was very suprised when I got it in the mail about 10 days later.
Enjoy !
Need your advice. I was orginally not thinking of a LR3 however a recent newspaper advertisement peaked my interest. My local Land Rover dealership is advertising a 24 month lease deal for $399/month with $2495 down. This does not include TT&L or a security deposit (not sure how much this will be). The terms are 10K miles a year with a residual of $34,891. This lease deal is for an LR3 V8 SE. Is this as good of a deal as it appears? Thanks for your help.
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Anyways, money factor was .00157 and residual of 74% or 40718.50. Payment with 8.25% sales tax here in Los Angeles came to a total 0f $610 per month. Had to put down $1998 for first payment, tags, acquisition fee 595 and went with the wear care for $350 because I will undoubtedly beat the crap out of this thing off roading. We'll see if it was money well spent.
I requested information from Land Rover to see if the $1500 off coupon would come but the wife got tired of me looking for a car so couldn't wait any longer. If the coupon shows up I will be pissed.
Anythoughts on whether this was a good deal?
I am going to the dealer tomorrow to demand my $1,500. Wish me luck.
By the way, just request information from Land Rover on the website and they will send the information to you. The coupon is valid until 7/31/06 for purchase or lease.
but good luck anyway, glad someone else took advantage of my advice.
Funny thing, this morning they also emailed the coupon to me as well.
It dropped my payment from $596 to $531.
Total out of pocket: $2,022.00 (Incl. 1st payment, Wearcare, Aquisition fee, tags, title, etc.)-(No coupons)
Terms: $634.88/ month for 24 mos. at 15k miles per year. I think they also have a Silver/Alpaca available for any takers. Hope I didn't get screwed, and that this helps.
Not sure what you mean about the trade in helping the value of the lease at the end? The vehicle's value at the end of the lease is predetermined at the time you enter into the lease. You then pay depreciation (difference between purchase price and agreed value at the end of the lease) plus rent. If you traded in your Disco and used it to pay part of the lease it will lower your payment. However, it generally best to put the minimum down.