Last post on Aug 06, 2010 at 2:34 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Land Rover LR3, Car Leasing, SUV
#281 of 569 Trade for a broken Freelander
Jan 20, 2007 (11:08 pm)
My 2002 Freelander developed a coolant leak, so my dealer says I need a new engine. They are also telling me that the Land Rover Assured Extended Warranty (provided by APCO) is not going to cover it. The long and the short of it is that they said they would like to get me a "great deal" on a new LR3. This is what they have offered me:
2006 LR3 SE V8 with rear seat package/cold climate package/satellite radio
Lease Terms: 30 month/12K mi
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!!!!!
#282 of 569 Re: Trade for a broken Freelander [h2oleo]
Jan 21, 2007 (5:52 am)
I just leased the same vehicle, price, options everything. Here is my deal
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
$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.
#283 of 569 Re: Trade for a broken Freelander [h2oleo]
Jan 21, 2007 (10:57 am)
HI. See may earlier message from Friday on HS 7 V* LR3 lease. I believe you are paying way too much. Between lease cash from LRA and dealer cash, you should at least be able to get $7-$8,000 off MSRP. I recently negotatied two leases for this vehicle ( I went to another dealer when I was not satisfied with the 1st). You should be able to negotiate a capitailized reduction cost (which includes all dealer cash and LRA incentives) around $42,000. If you cannot get with a $1000 of this, then your dealer is holding back. The $3,000+ they said would cover all your taxes and fees is B.S. Sure a portion of it will, but not all. I was given a purchase price of $41,000 for the $49,000 msrp model and $42,500 for the $51,000 msrp model. MY final cap cost, which included a $3,000 contribution from me, was $39,500 (original msrp was $51,400). My 24 month lease price with all taxes and fees is $385.
#284 of 569 Re: Trade for a broken Freelander [jcwcali]
Jan 21, 2007 (3:49 pm)
Thanks for both of your replies. It looks like the $599 lease deal in still in effect until 4/3/07. Unfortunately, there are none left with all of those options. One dealer just told me that to honor that deal, they would put me in an SE7 with sat, but no cold climate or Lighting Package, and I'd still pay $599. Unbelievable.
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.
#285 of 569 Re: Trade for a broken Freelander [h2oleo]
Jan 21, 2007 (5:47 pm)
the $385 lease sounds to good to be true
#286 of 569 Re: Trade for a broken Freelander [jcwcali]
Jan 21, 2007 (8:28 pm)
I'd love to get the details of the $385 lease too!
I was quoted $599 for a dealer demo- $0 down, 24 months, 15k miles a year w/ taxes.
#287 of 569 Re: Trade for a broken Freelander [jacebc]
Jan 22, 2007 (7:41 am)
Hi, I'm the one with the $385 lease deal. Actually, now it's $389 due to changing from Green to Black (which Land Rover charges an additional $400 for).
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
#288 of 569 january captive lease rates
Jan 22, 2007 (3:27 pm)
Can someone post the rate/residuals for 07 LR3 SE & HSE?
#289 of 569 Re: Trade for a broken Freelander [dfarnsworth]
Jan 22, 2007 (5:36 pm)
What a deal!!
This is a 2006? What are the terms and mileage? Where in the heck is this?
#290 of 569 Re: Trade for a broken Freelander [jacebc]
Jan 23, 2007 (2:14 pm)
HI. This is a dealer in the Pittsburgh area. My terms have been posted a couple of times in last few days (just follow lr3 lease questions section between jan 20 and today and you should find them). If you have trouble finding them, let me know. This is a 24 month lease for SE 7 V8 10.5k miles/year. This model is black/black and has msrp of 51,500. Money factor was .00045. Residual % was 65%. My cash ocntribution was $3,000. Total monthly payment with all taxes, fees etc is $389.