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Land Rover LR3 Lease Questions

557 messages,  Last post on Apr 06, 2009 at 3:06 AM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#496 of 557
LR3 Lease by geoffflynn
Feb 20, 2008 (7:11 pm)
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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 557
Re: LR3 End of Lease Residual Negotiation [Car_man] by ssp1
Feb 26, 2008 (1:34 pm)
Reply

Replying to: Car_man (Jan 03, 2008 3:51 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 557
Current Lease Rates by bigjoelr3
Feb 26, 2008 (4:13 pm)
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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 557
End of lease LR3 by jayrod422
Mar 03, 2008 (1:17 pm)
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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 557
Re: End of lease LR3 [jayrod422] by jjf030
Mar 03, 2008 (7:44 pm)
Reply

Replying to: jayrod422 (Mar 03, 2008 1:17 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 557
Re: LR3 Lease [geoffflynn] by Car_man HOST
Mar 04, 2008 (3:41 am)
Reply

Replying to: geoffflynn (Feb 20, 2008 7:11 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 557
Re: LR3 End of Lease Residual Negotiation [ssp1] by Car_man HOST
Mar 04, 2008 (3:56 am)
Reply

Replying to: ssp1 (Feb 26, 2008 1:34 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
#503 of 557
Re: Current Lease Rates [bigjoelr3] by Car_man HOST
Mar 04, 2008 (3:59 am)
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Replying to: bigjoelr3 (Feb 26, 2008 4:13 pm)

Here's the information that you're looking for, bigjoelr3. Land Rover Capital Group's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Land Rover LR3 HSE with 15,000 miles per year are .00023 and 58%, respectively. The numbers for an otherwise identical lease of an '08 LR3 SE are .00007 and 58%. Land Rover is providing much better money factors on 24 month leases of these trucks than it is on 30 and 36 month leases. You're right about the residual values. You were fortunately to get a 73% resid when you leased your LR3 several years ago, boy was that out of whack. The 58% residual value that Land Rover is using for this truck now is much more realistic.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#504 of 557
Re: End of lease LR3 [jjf030] by ctfarmboy
Mar 25, 2008 (11:46 am)
Reply

Replying to: jjf030 (Mar 03, 2008 7:44 pm)

jjf030
I may be doing the same lease of an HSE loaner. Can you let me know your deal? My deal is around $635/mth before taxes; 30 mths; 15,000 miles/yr; no money down.
#505 of 557
Re: End of lease LR3 [ctfarmboy] by jasonpalmer
Mar 30, 2008 (8:00 pm)
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Replying to: ctfarmboy (Mar 25, 2008 11:46 am)

F.Y.I. I was offered $608 on a Loaded 2008 LR3 SE with Tech Pkg, Front/Rear Parking/Bi-Xenon, and Cold Weather Group - 3,000miles, Dealer Loaner for 36months/15,000 miles/yr.

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