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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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#493 of 566
Re: LR3 End of Lease Residual Negotiation [ssp1] by Car_man HOST
Jan 03, 2008 (2:51 am)
Reply

Replying to: ssp1 (Dec 25, 2007 11:15 am)

Hi ssp1. In order to determine whether you should purchase your LR3 at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though its purchase option price is stated on your lease contract, you should place a call directly to Land Rover Capital (there's no need to involve any dealer) that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.
 
As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
 
If your truck's purchase price is less than or in line with its current real world value then you may want to consider buying it. If not, just walk away and lease or purchase a new vehicle.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#494 of 566
Re: Carman this is what I found [Car_man] by ysauto
Jan 03, 2008 (6:28 am)
Reply

Replying to: Car_man (Jan 03, 2008 2:26 am)

Thank you, it looks like i am getting an MDX
#495 of 566
Re: Carman this is what I found [ysauto] by Car_man HOST
Jan 29, 2008 (2:12 am)
Reply

Replying to: ysauto (Jan 03, 2008 6:28 am)

No problem, ysauto. Enjoy your MDX.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#496 of 566
LR3 Lease by geoffflynn
Feb 20, 2008 (6:11 pm)
Reply
LR is offering the following lease. Anyone have any perspective for whether it is competitive?
 
2008 LR3 SE with Cold Climate Package: $599/month* with a 24-month lease and a $4,687 initial payment
Security deposit waived. Excludes taxes, title and license fees. *New and previously untitled vehicles only. Not all lessees will qualify for lowest Land Rover Credit lease. Payments may vary. Residency restrictions apply. Lessee responsible for excess wear and mileage over 21,000 miles at $0.20/mile. Lessee has the option to purchase vehicle at lease end at price negotiated with dealer at signing. Initial payment includes: $3,493 down payment, $595 acquisition fee, $0 security deposit and $599 first month´s payment. Take new retail delivery from dealer stock by 3/31/08.
#497 of 566
Re: LR3 End of Lease Residual Negotiation [Car_man] by ssp1
Feb 26, 2008 (12:34 pm)
Reply

Replying to: Car_man (Jan 03, 2008 2:51 am)

THanks - i never saw this reply. (My question was whther to buy at the end of the lease and you mentioned comparing market prices etc) Myfollow up question is - if the dealer has to turn around and sell my car at market, and certify it, why wouldnt they do that for me the current owner (the lease end price is like 40K and thats about 2k over market for a certified used LR3 comparably equipped). Doesnt it make sense to just sell the car right away instead of trying to take it back and then have the cost of holding it and selling it for the market price anyway?
#498 of 566
Current Lease Rates by bigjoelr3
Feb 26, 2008 (3:13 pm)
Reply
Can anyone tell me the current lease rates for HSE and SE LR3's. I'm interested in the money factor and residual percentages. I have 3 months to go on my 2006 LR3 SE lease which was a 24 month w/ 15,000. Back then I put nothing other than the minimum down and pay $617/mo for a fully loaded SE with all the bells and whistles.
 
I am looking for the same lease, unless there is a better rate on a 30 or 36 month lease.
 
Looking at some of these deals people are getting it looks like the residuals are now a lot worse. My lease was based on a 73% residual I believe.
 
Anyone gotten a good deal on a lease in the So. Cal. area?
#499 of 566
End of lease LR3 by jayrod422
Mar 03, 2008 (12:17 pm)
Reply
Does any have any tips regarding the end of lease for a LR3?
 
I am due for a end of lease soon, love the car, and am turned off at the price when comparable models with the same mileage are on ebay around 3-5K cheaper than my buy out price...
 
Can you negotiate the buy out price and if so has anyone had any success doing so?
#500 of 566
Re: End of lease LR3 [jayrod422] by jjf030
Mar 03, 2008 (6:44 pm)
Reply

Replying to: jayrod422 (Mar 03, 2008 12:17 pm)

I just went through the same situation with Land Rover Capital, my lease was up on my 06 LR3 HSE and I wanted to buy the vehicle, but the residual was about $5k more than it was worth. They told me on several occasions they will NOT negotiate the residual, the dealer verified this also.
 
I turned the vehicle in with low miles. I leased an 08 LR3 HSE that was a service loaner and got a really good deal and big discount off the MSRP. The money factor and payment is less than my 06.
 
Good Luck!
#501 of 566
Re: LR3 Lease [geoffflynn] by Car_man HOST
Mar 04, 2008 (2:41 am)
Reply

Replying to: geoffflynn (Feb 20, 2008 6:11 pm)

Hi geoffflynn. Manufacturers' official advertised lease payments are usually decent deals. However, savvy consumers who are in areas that have a decent level of competition are usually able to beat them. If I was in the market for a new Land Rover LR3, I personally would look up its dealer invoice price right here at Edmunds.com and try to negotiate a selling price that is as close as possible to that. After I had arrived at a selling price that I was comfortable with, I would have the dealer calculate my truck's monthly payment using Land Rover's buy rate lease money factor. According to the latest information that I have seen, its buy rate for a 24 month lease of an '08 LR3 SE is an attractive .00007.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#502 of 566
Re: LR3 End of Lease Residual Negotiation [ssp1] by Car_man HOST
Mar 04, 2008 (2:56 am)
Reply

Replying to: ssp1 (Feb 26, 2008 12:34 pm)

Hi ssp1. Technically the dealer doesn't own your truck, Land Rover Capital Group or whichever bank you are leasing it through does. In order to sell your truck on its lot after you turn it in, the dealer would have to buy it from the bank. They will likely be given the first shot at it before the bank takes it back and sends it to a different dealer or to auction. If you really like your truck and you want to get it certified, you may be able to get the dealer to work with you.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

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