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Prices Paid: Buying & Leasing Experiences Land Rover LR3 Lease Questions
531 messages, Last post on Sep 02, 2008 at 9:24 PM
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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 MSRP: 49700 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!!!!!
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Replying to: h2oleo (Jan 20, 2007 11:08 pm) MSRP 49700 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 residual 69% $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.
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Replying to: h2oleo (Jan 20, 2007 11:08 pm) |
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Replying to: jcwcali (Jan 21, 2007 5:52 am) 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.
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Replying to: h2oleo (Jan 21, 2007 3:49 pm)
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Replying to: jcwcali (Jan 21, 2007 5:47 pm) I was quoted $599 for a dealer demo- $0 down, 24 months, 15k miles a year w/ taxes.
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Replying to: jacebc (Jan 21, 2007 8:28 pm) 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
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| Can someone post the rate/residuals for 07 LR3 SE & HSE? | |
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Replying to: dfarnsworth (Jan 22, 2007 7:41 am) This is a 2006? What are the terms and mileage? Where in the heck is this? THanks! /Jason
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Replying to: jacebc (Jan 22, 2007 5:36 pm) |
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