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Prices Paid: Buying & Leasing Experiences Land Rover LR3 Lease Questions
566 messages, Last post on Aug 04, 2009 at 9:28 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: roverdude (Jan 06, 2009 7:47 pm) If you want to lease an SUV right now, the LR# probably isn't the right model for you. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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As noted in a prior post, I'm looking for a new LR3, preferably an 09'. After literally calling over 20 LR dealers in CA and other Western states I've found loads of 08's, most sans NAV or Bi-xenons, and 1 2009 (the elusive freshened LR3) in the desert. Leasing is terrible but word from most dealers is that the new Chase partnership will allow for new attractive leasing in April when the 09's start flowing. Dealers continue to quote $15K+ off MSRP on 08's but you forego the 36 month 0% if you take the discount.
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I am in the process of negotiating a lease on a 2008 LR3 SE with Cold Climate Package and Bi-Xenon & Front Park Distance Control. The vehicle has 8088 miles on it and was a service loaner. The MSRP is $52,150. Initially I was offered the vehicle at $36,150. I want to lease the vehicle and their offer is 12k miles for 36 months at $766.93, with $1000 down. There is a $199 doc fee and local taxes of $1580. The money factor is .00229 and the residual value is $14455. I have since been able to get them to drop the price to $35,688 and they have now offered a 42 month lease with 12k miles at $697 per month. I would like to get some feedback as to how good a deal this really is. I have read some earlier posts which included some pretty low numbers for what appeared to be new vehicles. I would prefer a brand new vehicle, but I am not sure I would get the same kind of discount
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Replying to: Schumi (Jan 20, 2009 11:53 pm) At that selling price, you can buy the car for $700/mo. for 60 months.. If the LR3 is the car you want, that's what I would do.. regards, kyfdx Host-Prices Paid Forums
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Replying to: kyfdx (Jan 21, 2009 4:05 am) My fears with purchasing the vehicle is that then I will need to get additional warranty coverage for the last couple of years. From what I have been reading in some of the posts is that there can be quite a bit of maintenance issues that crop up after the first few years. In addition, all of the service will be included in the lease, since we won't put that many miles on the vehicle. I love the look, drive (especially off road), and space of the vehicle, but I am not sold on its long term reliability and I thought that I might try it for 3 years. Based on the ~$14k residual, I could finance that over 2 years and be at the same place at the end of 60 months. Do you know of any better deals with leases? Should I push to get the money factor lowered? Should I get them to throw in some extras with the lease?
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Replying to: Schumi (Jan 21, 2009 11:28 am) I share your worry about Land Rover's long term reliability, and resale...Having the option of just turning it in is a nice insurance policy. I just couldn't swallow a $700 lease payment on a $36K car... For that amount of payment, I'd be looking elsewhere, but you probably like the car more than I do.. Sorry I can't be of more help.. |
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I have been searching dealers for the best price on a 2008 LR3. I have one tell me he will take $17k off MSRP. My wife fell in love with her friends. It is a great truck to drive. It is true there are really no 2009's and the 2010's will be out late spring? Is a lease out of the question?? 
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Replying to: murphy4 (Feb 16, 2009 11:03 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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In May 2006, I leased a 2005 LR3 SE that already had 1600 miles on it at the following terms: 36 month, 15,000 miles/year at $728.44/month (7.5% tax included) with $943 out of pocket (Including the first month payment and paper work. There was no need for security deposit but I will have to pay a disposition fee when I return the car at the end of the lease.) I was told by the dealer that the MSRP of truck at that time was $50,770 and that their selling price was $40,770. The options on this truck included GPS, cold weather package, and the lighting group. The dealership also told me that there were a couple thousand dollars worth of additional dealer-installed options that they were not counting in the pricing such as wood grain dash, trailer hitch...I also had a trailer braking system installed afterwards. A few days ago, I got a call from Bank US that since my lease is ending in two months, I could either return the truck at the end of May or buy it from them for $23,465 plus any taxes, fees and "other charges". On the other hand, they told me that they would also entertain an offer from me on the purchasing price. I would like to seek your advice on: (1) Are there any reasons that I should walk away from this truck at the end of the lease, e.g., some known reliability issues on 2005 LR3, high maintainence costs, etc? (2) If I should go about making an offer, what is a good starting dollar number in your opinion? (3) If I should decide to return the truck, should I do anything in getting the truck ready before returning it to avoid additional charges from the bank? BTW, I have about 41000 miles on the truck at this time and its conditions are OK in general. I have already bought another truck (a 2008 GMC Sierra 1500) late last year but could use the LR3 as a spare vehicle. Thank!
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Replying to: s.k. (Mar 13, 2009 12:51 am) These prices related to a dealership in the DC area.
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