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Land Rover LR3 Lease Questions

569 messages,  Last post on Aug 06, 2010 at 3:34 AM

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What is this discussion about? Land Rover LR3, Car Leasing, SUV

Messages Page 20 of 57

#189 of 569 Re: CAR MAN....Please help [gables] by Car_man HOST

Oct 17, 2006 (3:02 am)

Replying to: gables (Oct 05, 2006 1:09 pm)
Hello gables. Land Rover is currently providing dealer cash on the 2006 LR3. Specifically, it has $5,000 on V8 and $6,000 on V6 models. It also is providing lease money factor support on V8 LR3s. This dealer cash is not compatible with the V8 models's special money factors but it is available on leases of the V6 model. Are you interested in the SE7 V6 or V8? It makes a big difference. Let me know and I will tell you what this truck's current lease program is like.
 
Car_man
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#190 of 569 Re: LR3 V6 - need to make a decision [ehnj] by Car_man HOST

Oct 17, 2006 (3:09 am)

Replying to: ehnj (Oct 11, 2006 5:12 am)
Ehnj, Land Rover is not currently providing lease support on LR3 V6 models. As a result, if you want to lease one through Land Rover Capital Group, you will have to use its standard lease program which is not very good. On the plus side, since you are using LRCG's standard program you can take advantage of the $6,000 dealer cash that is currently available on LR3 V6 models. Make sure to use this cash to help you negotiate an attractive capitalized cost for your lease.
 
LRCG's current buy rate lease money factor and residual value for a 27 month lease of a 2006 LR3 V8 HSE 7-Passenger with 15,000 miles per year are .00143 and 62%, respectively. This lease program is not compatible with any dealer cash.
 
Car_man
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#191 of 569 Re: CAR MAN, Please help [gables] by Car_man HOST

Oct 17, 2006 (3:14 am)

Replying to: gables (Oct 15, 2006 2:37 pm)
Hi gables. A well equipped Land Rover LR3 SE V8 7-Passenger has a spread of around $4,500 between its full MSRP and dealer invoice price. You were quoted a discount of $5,200 on this truck. This low price leads me to believe that the dealer you are working with may be using the $5,000 dealer cash that is currently available on LR3 V8 models to lower your truck's selling price and then running your lease through an independent bank. I say through an independent bank because this dealer cash is not compatible with supported leases through Land Rover Capital Group. If this is the case, you should be able to negotiate a much lower selling price than this. If not, you are getting a heck of a deal on this truck's cap cost. For a lease through LRCG, make sure that the dealer is using its current buy rate lease money factor of .00195 for a 36 month lease of this truck to calculate its monthly payment.
 
Car_man
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#192 of 569 Re: LR3 V6 - need to make a decision [ehnj] by Car_man HOST

Oct 17, 2006 (3:17 am)

Replying to: ehnj (Oct 15, 2006 5:28 pm)
The latest lease you were quoted is an excellent deal, ehnj. If I personally had the coupon I would use it to cover any fees that are due at lease signing rather than applying it as a cap cost reduction.
 
Car_man
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Prices Paid Forum

#193 of 569 Re: COUPON [richardmartyn] by Car_man HOST

Oct 17, 2006 (3:21 am)

Replying to: richardmartyn (Oct 16, 2006 11:27 am)
Richardmartyn, the $6,000 dealer cash and $1,000 lease cash that you were quoted for a lease of a 2006 Land Rover LR3 V6 right now are correct. You can negotiate the $595 acquisition fee until you are blue in the face, but you will not be able to get the dealer to waive it. Most banks, including Land Rover Capital Group, charge an acquisition fee on every vehicle that they lease. The selling price that you were quoted for this truck looks good and the money factor that you were quoted is in line with LRCG's current buy rate for a lease of an '06 LR3 V6. If you like the truck, I personally don't see any reason not to pull the trigger on this deal.
 
Car_man
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#194 of 569 Re: Wait a second... [gables] by Car_man HOST

Oct 17, 2006 (3:24 am)

Replying to: gables (Oct 16, 2006 4:18 pm)
Hi gables. The LR3 V8 has special lease money factors available on it right now that are not compatible with the dealer cash. There is no lease support available on LR3 V6 models, so one can lease it through Land Rover Capital Group using its standard lease program and take advantage of the dealer cash and lease cash.
 
Car_man
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Prices Paid Forum

#195 of 569 Re: LR3 V6 - need to make a decision [Car_man] by ehnj

Oct 17, 2006 (8:24 am)

Replying to: Car_man (Oct 17, 2006 3:17 am)
Car-Man, thanks for all your responses. Very insightfull. Back to my quote ($560/mo, 30 mo/15k lease, V8 7passenger, PSI, Navigation, Lighting and cold climate package - MSRP = $53650), turns out that it is for a loaner. The dealer is going to get me specifics (miles, etc.).
 
Question: since I am leasing the car, and even with a loaner, I should be turning in the car at end of lease before the warranty expires, does it make a difference whether I have loaner or new one? are there any other factors I am not thinking of. Is there any normal wear that I should have them "fix" (e.g. put new tires on?)
 
Appreciate your thoughts.

#196 of 569 CAR MAN by gables

Oct 17, 2006 (8:31 am)

Can you please elaborate further on my current offer? I don't believe that I've been offered a deep discount on MSRP. Here are the facts again:
 
Vehicle: 2006 Land Rover LR3 SE V8 7-Passenger model
MSRP: $50,100
Sell: $47,900
Residual: 67%
M-Factor: .00152
Term: 30 months
Miles: 12,000
 
Accoridng to Edmonds, the dealer invocie for this vehicle is $45,655. I recognize that the MF is low and the dealer is using LRCG's special rate. However, the dealer is either not applying the "dealer cash" to this deal or is keeping it as additional profit.
 
What should I do with my $1,500 coupon? Should I apply it to the "sell price" to reduce my monthly payments or use it to pay the first month's payment, plus the bank fee, tag, etc.?
 
Thanks for your anticipated response.

#197 of 569 Re: LR3 V6 - need to make a decision [ehnj] by ehnj

Oct 18, 2006 (11:17 am)

Replying to: ehnj (Oct 17, 2006 8:24 am)
I am keeping at it... here's the latest firm quote I got:
 
MSRP: $54,925 (LR V8 SE7 loaded)
Cap Cost: $48,197 ($1850 under invoice)
Demo w/ 6000 miles
30 mo, 15k lease for $599 (taxes included)
$1836.20 due at signing
 
I have not included my $1500 coupon, but will use that to pay for the inception cost.
 
Question: is there any rule of thumb to determine the cap cost for a demo? Am I getting a good deal?
 
Appreciate any thoughts.

#198 of 569 Re: CAR MAN [gables] by ehnj

Oct 18, 2006 (11:38 am)

Replying to: gables (Oct 17, 2006 8:31 am)
Gables,
 
On a new V8, MSRP $53650, I am only able to get a cap cost of $49,700 ($3950 off MSRP). The only way I am able to get a good cap cost ($6000+ off MSRP) is to go with a loaner.
 
The dealer also told me that they can't combine the dealer cash with the special lease rates.
 
Car_Man responded to me earlier that he'd use the coupon to pay the inception cost.

Messages Page 20 of 57

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