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Land Rover LR3 Lease Questions

569 messages,  Last post on Aug 06, 2010 at 3:34 AM

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

Messages Page 9 of 58

#75 of 569 Re: HSE Lease How much? [bigjoelr3] by Car_man HOST

May 30, 2006 (3:30 am)

Replying to: bigjoelr3 (May 08, 2006 2:42 pm)
Hello bigjoelr3. Let's work up a lease payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2006 Land Rover LR3 HSE with an MSRP of $56,075 and a selling price of $52,500 through Land Rover Capital Group right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $719.
 
Car_man
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#76 of 569 Re: HSE Lease quote - good deal? [bigjoelr3] by Car_man HOST

May 30, 2006 (3:34 am)

Replying to: bigjoelr3 (May 10, 2006 1:59 pm)
Hey bigjoelr3. The money factor and residual value that you were quoted are right in line with Land Rover Capital Group's lease program for this model. The selling price looks reasonable as well. Both of the negotiable aspects of this deal look good to me, but I come up with a 36 mo. / 15k pre-tax payment of $757. As you can see, this is a lot lower than the payment that you were quoted, even if yours includes tax. I would want to know why there is such a difference if I was in your shoes.
 
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#77 of 569 Re: V8 SE Lease Quote in Los Angeles [angelboing] by Car_man HOST

May 30, 2006 (4:44 am)

Replying to: angelboing (May 14, 2006 1:22 pm)
Hi angelboing. The money factor that you were quoted for this truck is too high. Land Rover Capital Group's current buy rate lease money factor for a 24 month lease of an '06 LR3 V8 SE is only .00150 for the 5-Passenger and .00157 for the 7-Passenger model, assuming that you qualify for its top credit tier and pay a security deposit. It appears as though the dealer that you are working with is attempting to mark your truck's money factor up to add additional hidden back-end profit to your deal. This sort of thing happens all the time, but can usually be avoided by consumers who confront their dealer with their vehicle's actual buy rate.
 
The other negotiable aspect of your deal is your truck's selling price. You really need to find out what this number is. Not only will it show you how much of a discount you are being given, but it will enable you to calculate what its lease payment should be.
 
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#78 of 569 Re: Lease Quote [mrchili] by Car_man HOST

May 30, 2006 (4:47 am)

Replying to: mrchili (May 24, 2006 5:31 am)
Hi mrchili. Dealer invoice is a very good price for this truck. Land Rover Capital Group's current buy rate lease money factor for a 24 month lease of it is .00157 through. It appears as though the dealer you are working with is marking your truck's money factor up slightly. Try to get them to use the 57 factor. Even if they won't, dealer invoice is such a low price that you are still getting a good deal.
 
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#79 of 569 Re: HSE Lease How much? [Car_man] by bigjoelr3

Jun 01, 2006 (1:59 pm)

Replying to: Car_man (May 30, 2006 3:30 am)
Car man,
 
I found out the reason why the payment was higher than what you came up with. Lots of undisclosed fees that the sales guy finally disclosed. 350 or 500 or WearCare, 595 acquisition fee and I think 600 for bank fee.
 
How necessary are these fees? Can I get them to waive them. Sounds like Njlr3's lease of $641 for a HSE with 10,500 miles is a straight lease without all of these fees included.

#80 of 569 Re: HSE Lease How much? [bigjoelr3] by british_rover

Jun 01, 2006 (3:22 pm)

Replying to: bigjoelr3 (Jun 01, 2006 1:59 pm)
The 595 acquisition fee is legit you have to pay that. We normaly roll that into the lease but you can pay for it up front.
 
You don't have to buy wearcare if you don't want but if you do not buy it you have to put down a security deposit. Security depsoit is equal to your monthly payment rounded up to the next 50 dollar incremant.
 
600 bank fee is totaly bogus that does not appear anywhere on a LRCG lease contract.

#81 of 569 Did I get A Bad Leasing Deal On a 2005 LR3 SE? by s.k.

Jun 07, 2006 (3:53 pm)

I stumbled into your forum by accident and wish that I could have discovered it earlier.
 
Please tell me if I might have got a bad leasing deal. A week ago (5/30), I saw an ad on the paper by a local Land Rover dealer that they had a new 2006 LR3 SE with a MSRP of $50,770 that they were selling for $40,770. When I went into the dealership asking to see that car, I was told that it was a mistake on the news paper's part. This was actually a 2005 model, and by the way, it also had 1600 miles on it. I test-drove the car and it seemed to be in good shape. The dealership told me that there were a couple thousand dollars worth of additional dealer-installed options that they were not counting in the pricing. Although I was unhappy with the misrepresentations, I thought $10,000 to $12,000 off on the car was still a good deal, so I decided to discuss leasing the car with them.
 
My leasing terms were 36 month, 15,000 miles/year and with the least amount of out of pocket money. I was told that since it was a 2005 model, they had to go with a commercial bank but that had a very good rate. The lease payment that they worked out for me was $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.) Just to make sure, for comparison purpose, I asked them to work out the payment for the case if I would have leased a new 2006 LR3 SE with exactly the same options and same leasing terms using Land Rover financing. The factory options on both cars included lighting package, cold weather package, convenience package, rear park distance control, navigation system and a tow hitch. After crunching through the numbers, they showed me a lease rate that was more than $200 per month higher. I asked them further if they were using the MSRP value for the 2006 car calculations. They assured me that they were using a realistic sale price not the MSRP. With that information, I signed the papers and took the car home the next day.
 
Upon reading the postings by "Car-man" and others on this forum today, I came to realize that I probably could have leased a 2006 LR3 SE (and without the 1600 miles on it) for near the same level of payment that I am having now. I priced out the 2006 LR3 SE with the options mentioned using Edmunds.com tools, it came out at $51,050 MSRP and $46,520 invoice. What would the fair leasing payments for such a car be? Was I misdirected by the dealership? Was the lease rate they quoted me for the 2006 car off base? If this is the case, will it be too late for any recourses such as negotiate for reducing the length of the lease to 24 months? Thanks for your help.

#82 of 569 Re: Lease Quote [Car_man] by ahgouah

Jun 07, 2006 (6:07 pm)

Replying to: Car_man (May 30, 2006 4:47 am)
Hi Car_man,
Interested in leasing the LR3 HSE w/ options. MSRP from Edmunds is $55,850 & Invoice is $50,888. Got a lease quote from a dealer: MSRP $55,950 & the selling price/cap cost is $51,352. 15,000 miles per year for 30 months, money factor is 1.61%,residual value 60% ($3,3570) with minimum drive off, payment is $751.82 plus tax. Please let me know if it is a good deal.
I'm also interested in leasing for 24 or 30 months at 15,000 and 18,000 miles per year. Would you please run the numbers for me? Is it better to lease a LR3 V8-SE model with MSRP $53,100 Invoice $48,895 Selling Price/Cap Cost47,895. Please advise.
Thanks a lot!

#83 of 569 Re: Lease Quote [Car_man] by mrchili

Jun 10, 2006 (9:43 am)

Replying to: Car_man (May 30, 2006 4:47 am)
Ok, here's the final number....I pick the car up on Monday.
 
2006 LR3 SE w/Cold Climate Pkg, Lgt Pkg w-PDC, Rear Seat & Climate Pkg
 
MSRP $50600, got it for invoice which is $47000
2yr lease w/12k a yr
 
MF .00167 (I know its .00157 but they claim there's a processing fee mixed in there.....whatever)
 
Residual is 73%
 
$1500 coupon from LandRover good for New Purchase or Lease on LR3 (all I did was inquire on the LandRover home page and they sent me a coupon......it also had $2k of Range Rover but wife wouldn't let me get that one) I highly recommend going on the website and filling out the inquiry form.....it's found money.
 
so apply the $1500 to the $47k invoice px and now I'm down to $45500 sale price.
 
$2064.67 out of my pocket....$595 bk fee, $550.00 sec deposit, $212 Registration and title fee, $7.50 MV tire fee, $169 doc fee, and $531.17 1st month payment.
 
so that's the final number a month....$531.17 for 2yr/12k lease.....I think I did very well....due to all the info I got off this site.
 
so Thank you all !

#84 of 569 Re: Lease Quote [mrchili] by mrchili

Jun 10, 2006 (9:53 am)

Replying to: mrchili (Jun 10, 2006 9:43 am)
btw....here's a great website if anyone needs to run numbers...my numbers are off about $6 but otherwise it works very well.
 
http://www.leaseguide.com/calc.htm

Messages Page 9 of 58

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