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Prices Paid: Buying & Leasing Experiences Land Rover LR2 Lease Questions
160 messages, Last post on Oct 17, 2009 at 11:34 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: mcarl (Aug 07, 2007 11:11 am) The X-Plan price should be better than any price that you would be able to negotiate on your own and you probably will not be able to negotiate an additional discount on top of it. You are correct, in theory if you go through the X-Plan the deals should be the same at all of the Land Rover dealers in your area. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: british_rover (Aug 20, 2007 10:02 am)  I know this is a forum for leasing, but, no one seems to be on the buying forum... british rover, Looked at LR2, salesman told me, "nothing to talk about on the price, it is on the sticker"...said something about 5.9 interest...I told him I had read on internet some people were buying them for 500 above invoice,....he did NOT mention Xplan pricing, whatever that is?? Told him I was going to sell my Tahoe myself.....I have a 2005 Chev. Tahoe LT, EXCELLENT CONDITION, FULLY loaded, everything EXCEPT navigation...bucket seats, third row, DVD entertainment pkg, towing pkg.,...38,700 miles, I owe too much money on it...don't think I can sell it for what it is worth...should I go to another salesman, ask for a deal figured with trade-in & also one figured with no trade-in??? Would the sales tax money from the trade-in make up for the cheaper price they will give me...may not can sell it myself unless I lose alot of money, but then again, they may not give me near enough for it...??? How do I get the best deal??? Wait longer to get a better deal on the price of the LR2? When did this model come out, April? When does the next one come out? Just wanted the base, none of the option pkgs., they are too expensive...don't need heated seats, etc.. Thanks. |
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When the LR2 was first released I went to the dealer I had leased a Freelander from and asked for a lease price for the LR2 loaded, $39,950. With the minimum down, the lease price at 2 years and 12K miles was about $670, but because I was a past customer they offered me $635/month. Since then, nothing has changed. From all the posts I have read since that time, no one has gotten a better deal and in fact many people writing into this forum are still confused about lease prices from Land Rover, and the fact that there is nothing on their website and no incentives doesn't help. I am also surprised at how many people want to put down thousands more than necessary in order to lower their monthly payment? Don't they know this is a salesman trick; all you are doing is paying your high monthly payment in advance and artificially lowering your monthly payment; it is still the same deal only better for them because they get more of your money up front. I was in the market for an LR2 but I after I heard the lease price, and the purchase deal, I had to back out as it was all too rich for my blood. It is a shame so many people like this car and want to perceive it as an economical, entry level Land Rover, (as it use to be) but it clearly isn't anymore. I understand the frustration when you shop similar spec cars, like the BMW X3, and they have much lower, more attractive lease rates and incentives. This makes Land Rover look very overpriced and makes it look like they are not interested in volume sales or making profit through volume or even being competitive with cars in the same class. I really don't think this is a case of a very expensive, high cache, luxury SUV being too expensive and people who can't afford it being bitter about it. I would reserve that superior attitude for the RR Sport, don't you think? So what exactly are they interested in? Building reputation slowly, selling more in Europe, keeping exclusivity through price hikes, making a big buck on low volume and low overhead? Who knows? It isn't by offering incentives or volume sales that's for sure. I live in an affluent suburb of NYC where the price for a basic house starts at about one million, and in the past six months I have seen only two LR2's on the road driving through; no one in my town owns one (but there are a lot of BMW X3's and X5's). It's a shame really because I understand the price and cache of the RR Sport and the Range Rover; I don't understand the price and lease price for the LR2. Is it possible this will change in the near future? Could Land Rover increase volume for the US and offer BMW X3 type lease programs and thus make huge profits through volume sales? Probably not, because they can't; though I bet they know if they could they would sell tons of these cars and make big profits, much more than they make on it now regardless of how much we all know they mark it up.
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Replying to: muddyy (Sep 16, 2007 1:24 pm) Land Rover simply doesn't have the volume to offer Lease deals like BMW and Mercedes do. Land Rover only sells 200,000 vehicles in the entire world and all of those vehicles are built in only two factories. The LR3, Range Rover and Range Rover Sport are built in Sollihul. The LR2 is built in Halewood alongside some Jags. Then you have the pending sale of Land Rover and Jaguar. That is causing problems on the production side of things and the finance side.
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Replying to: british_rover (Sep 16, 2007 2:55 pm) BMW is making enormous profits on the X3 and they sell a ton of them because the lease deal and build quality is excellent. To imply, or directly state that BMW's X3 lease/sale price makes no profit for BMW is incorrect and, if believed, can easily cause people to somehow conclude that LR's lease price is fair (because BMW gives it away). Come on, BMW doesn't give anything away. If it's true that Land Rover "doesn't have the volume to offer lease deals like BMW" I would consider two points regarding this: 1. Doesn't that, by default, then admit that Land Rover's prices are inflated and unjustified in the US market for what they are selling, because they don't make enough cars for it to be a good deal? Isn't that, in effect, saying we are paying for their inefficiency, rather than, it's a great car worth a lot more money than a BMW X3? 2. If low volume production is the reason they can't sell at a fair market price, then how do you explain the old Freelander pricing, which was competitive? Yes, the LR2 is a better built car but it's still called Freelander in the UK and still looks a lot like the old one and is in fact it's successor. When was the last time you saw an upgrade in one model year that nearly doubled the previous model year's lease price? Maybe you were just "explaining" rather than defending. Perhaps you even agree with me. But I already know people think what you wrote, however, I just can't imagine how any auto or LR enthusiast thinks all this is okay (just because it can be explained by volume). Sure, some people have money to burn, I know that; but I also know "most" people who are attracted to this car think it is overpriced with one of the worst lease deals (if not "the" worst) in the industry.
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Replying to: muddyy (Sep 16, 2007 3:56 pm) Right now they are decent Lease deals on the 2007 LR3 and there were decent lease deals on the 2007 Range Rover. They never came out with lease deals on the 2007 Range Sport because there was no left over ground stock. Most of the 2007 Range Rovers are sold now so the lease special will probably be discontinued at the end of the quarter if not earlier. I would like to see Land Rover provide better lease support for all of their vehicles but they will not do that. I have asked and they have basically given the same explanation I gave you. "We don't have the volume to support those kind of incentives. The cars sell fine on their own merits so their isn't a business case for increased incentives. We can't afford 9,000 or more dollars a car to move units that are moving at a good clip." A few things you probably don't know. Land Rover's Sollihul Plant is MAXED OUT. They can't build any more cars there they are at capacity and are barely satisfying demand as it is. Makes no sense to offer incentives on cars to move them faster when supply and demand are nearly equal. LR2s are also selling at a pretty big clip with very little exess supply. Could they sell a few more with a killer lease deal? Yeah but would it be enough to make a business case for several thousand dollars in incentives? I don't know Land Rover seems to think it would not. I would argue that BMW has the X3 over priced. You keep talking about lease deals and how the LR2 is over priced but an equivalent X3 is thousands of dollars more. A loaded LR2 is around 40,000 dollars. To get a similar equipment level in a X3 would put the price to around 50,000 dollars. Sure the X3 will lease for less but what about the poor schmucks who don't lease it? They got screwed. Land Rover has 4.9 percent for 60 months on the LR2. Take the 4.9 percent put 5,000 dollars down and you will have positive equity after 36 months assuming you don't blow the miles out. You can probably get that 40,000 dollar MSRP LR2 down to just under 38,000 with some hard negotiating too. Right now my dealership only has about a six week supply of LR2s, after we bought extra cars from port, and we are just getting into our busy season. A single busy month could wipe us out of cars which will require us to buy more cars from port further reducing national reserve inventories. I am sure other dealers are in the same situation.
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Replying to: british_rover (Sep 16, 2007 4:51 pm)
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Replying to: muddyy (Sep 17, 2007 7:46 am)  that while BMW's own leases are readily available, they are no panacea. I just priced out an X3 to be comperable to my new LR2 with cold pack (only) on bmwusa.com. Using BMW's build your own web site feature, that meant sport pack, steptronic, cold pack, rear park distance, premium sound, 18" wheels, privacy glass and real leather and wood trim. That BMW totals $45,625 (inc destination) that vehicle leases at 3 yrs (12,000) per year for: $496 (approx) And that is with $4500 down. Or $633 with no money down. Yikes! In my opinion, that is not a deal. I only paid $33,400 for the LR2 with the same equipment (no Nav, no Lighting). $12,000 less! Put $3000 down. That gives one approx $585 for 5 yrs with 6.5% Sorry, but I'm not spending $500/month on a BMW lease after putting $4500 down on a $12,00 more expensive vehicle. I'll put less down and still own my LR2. I guess all I'm saying is that one has to look at it from multiple ways. good luck.
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Replying to: u2fan1967 (Sep 17, 2007 9:30 am) how did you get the $33,400, that includes cold climate? 33,400 plus tax, title, fees? The MSRP 34,700 is the base with no options not including tax, title, fees. the one salesman I have talked to said "there is nothing to talk about on the price, they are what the sticker says." I keep reading that people get them for less, some $500 over invoice, how do you do that? Don't want cold climate, navigation, but would like satellite radio, don't want to pay $3000+ for it though, but I guess if I could get a good deal I would pay for the tech pkg, but would never use navigation, heated seats, etc....thanks.
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Replying to: jax10 (Sep 18, 2007 6:16 pm) I say find another dealer or use some kind of online buying service. I simply worked with a good dealer/salesman and negotiated it. The dealership was great! No frills. I walked out of a Land Rover dealership just 2 miles from my house because they were very rude and didn't want to even discuss things rationally. So I drove 1 1/2 hrs to another dealership (called them first and told them what I was looking for, etc.). They were great and I sealed the deal in under an hour. Yup, that included cold pack only plus tax, title and fees. I live in New England so all the dealers carry LR2s with nothing less then the cold pack. Plus you need it up here. I didn't want to fork out $3000 for the nav and satellite either. Though in hind sight, I wish I had as now I find out its near impossible to add an "integrated" after market alpine satellite receiver to the stereo head unit. So I have to use the basic "plug and play" one plugged into the AUX jack, which is ugly. Oh well. The main thing is that I absolutely love this vehicle. Best I have ever owned. And I have owned Audi and Acura and Jeeps, etc. K.
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