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Land Rover LR3 Lease Questions

566 messages,  Last post on Aug 04, 2009 at 9:28 AM

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


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#454 of 566
Help sorting out 07 vs 08 Lease by cboy3
Aug 21, 2007 (6:19 am)
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Any help appreciated on this. Considering a deal for 2007 LR3 HSE and need to decide today. It includes:
- Lux package
- Sat radio
- Trailer hitch
- Cross bars
- floor lining for rear cargo
Terms:
- 36 months
- 12K miles
- $850/month including tax (CT at 6%)
- Residual value used 51%
- Money factor .0027
- Total price around $49,500 but think that they are moving it around to make payment come out to $850. The other factors are fixed as I have them here.
 
Questions:
- Good deal?
- I know a leasing specialist who thinks it crazy not to go for 2008 now, thinking that you get higher residual value that will offset higher cost and then in 3 years the 2007 will be a 4 yr old vs the 2008 is still a 3 year old car. Seems to me that price and residual value (assume same MF) can cure this difference. Any thoughts on leasing 2007 today vs. 2008?
 
Help much appreciated...trying to make a decision soon and looking forward to getting into my LR3. Thanks, Chris
#456 of 566
Re: Help sorting out 07 vs 08 Lease [cboy3] by british_rover
Aug 21, 2007 (6:28 am)
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Replying to: cboy3 (Aug 21, 2007 6:19 am)

Your leasing specialist doesn't know what they are talking about.
 
Land Rover has special lease deals on the remaining 2007 MY LR3s to clear out inventory. The 2008 MY LR3 does have a higher residual value but the 2007 MY LR3 has a money factor that is significantly less plus Land Rover has a couple of thousand dollars in lease cash on 2007 LR3s.
 
Yu already have a price well below invoice, which is around 51,500 on that car, so you aren't going to get any better deal.
 
A similar 2008 would probably lease at over 1,000 dollars a month.
#457 of 566
Re: Help sorting out 07 vs 08 Lease [british_rover] by cboy3
Aug 21, 2007 (6:52 am)
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Replying to: british_rover (Aug 21, 2007 6:28 am)

Thanks for the quick response. Very helpful (besides that its what I wanted to hear). I suspected that the leasing specialist is really looking out for the residual value that he might inherit, and so it is good to hear another voice suggest that his view is skewed.
 
Thanks again
#458 of 566
lease terms for 2007 LR3 HSE by marcz
Aug 22, 2007 (10:54 am)
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Could someone indicate the current Land Rover money factor and residual value on a 2007 LR3 HSE, for a 36-month lease with 15,000 miles per year? Thanks.
#459 of 566
Last of the 07 V8 SE stock ... ?? by maverick8
Aug 23, 2007 (10:03 pm)
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Hi folks, anyone have a view on stock levels? they seem to all over the show in CA. Some dealers listing 20+, others only having the odd one left. I am wondering, for those with significant stock left, what will they do to move them before everyone else is selling 08's?
 
Any thoughts
#460 of 566
Forgot to ask ... how do you get a good MF on Loaners? by maverick8
Aug 23, 2007 (10:08 pm)
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Is there any way in which a comparable MF to the Land Rover Capital promo for new 07's can be matched on loaner 07s? A heavily discounted 07 V8 SE looks great until you realize the new one has a great Residual/MF over 24 Mths.
 
Thanks
#461 of 566
Re: lease terms for 2007 LR3 HSE [marcz] by cboy3
Aug 24, 2007 (5:20 am)
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Replying to: marcz (Aug 22, 2007 10:54 am)

Can't give you the number for 15K. For 12K it is 51% offered by dealer through America Credit. The ALG number is 44% for this vehicle (36 months, 12K), so dealers are goosing the number up to lower payments but your car could be under water when lease is up (if it matters to you). Just got a HSE loaded with trailer hitch, cross bars and rubber mats (no dvd) for $49,500 from invoice of $51,800 and MSRP of about $55,500 to get payments ~$800 before tax.
#462 of 566
Re: Forgot to ask ... how do you get a good MF on Loaners? [maverick8] by british_rover
Aug 24, 2007 (5:29 am)
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Replying to: maverick8 (Aug 23, 2007 10:08 pm)

The programs on new LR3s are the exact same as the programs on loaners. The only catch on the loaners is that you have to pay for however many miles they already have at 15 or 20 cents a mile. A typical loaner is going to have between 5,000 and 6,000 miles so you have to pay for those miles either up front or by building them into the lease payment.
#463 of 566
Re: Forgot to ask ... how do you get a good MF on Loaners? [british_rover] by maverick8
Aug 24, 2007 (9:34 am)
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Replying to: british_rover (Aug 24, 2007 5:29 am)

Cool. So correct me if I am wrong, but a dealer that is willing to discount a loaner with say 5k miles om it can offer .00106 and 64% residual over 24Mths 10.5k per annum but they have to add approx. $1200 (6000 x $0.2) to Cap Cost for the existing mileage?
 
I was under the impression that most dealers 'sold' their loaners to their service dept. and so could not lease them on same LR Cap program as new?? guess I have been misinformed.
 
Thanks for clarification, even though I consider myself far from stupid, the options still confuse.

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