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Prices Paid: Buying & Leasing Experiences Land Rover LR2 Lease Questions
161 messages, Last post on Dec 04, 2009 at 3:20 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Replying to: u2fan1967 (Sep 19, 2007 7:45 am) The closest dealerships to me are 2 hours & more away...several are owned by the same company, so it seems like it is a little "monopoly" to buy a Land Rover around here. There are not that many in Texas. I don't even know what price to try for..., they seem to want you to believe that they don't discount the MSRP...?? again, yours was $33,400 before adding on the tax, title & fees? This seems very different than buying any other kind of vehicle...then I wonder if it will be a mistake to have to go so far in case I get a "lemon"....2+ hours there, 2+ hours to get back home, but I really think I want the LR2. I don't know how much trouble it is to use one of the portable satellite radios, or how much they costs... I guess wires would be going everywhere.... Maybe if I wait a little longer they would be willing to discount some...the same ones have been on their website for quite awhile... nearly October, looks like they would discount since they will be getting new models in by April I guess, wonder if they will look the same...don't really know how to approach this deal? thanks, janie |
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Leased the LR2 yesterday - details below. LR2, Baltic Blue over Tan With Cold Climate MSRP of $35,400 (33,985+700+715 destination) Net Cap Cost $32,500 (or $222 over invoice) 24 months .71 residual (allows for 10,500 miles per year which is not problem living in the city) Money Factor of .00193, or 4.632% (.00193x2400) Zero cap cost reduction Monthly pretax (sales and excise) $418.15 $ due at signing $1,485.55 (first, bank fee, license, doc, plate and tax on bank fee) Monthly after tax $481.80 True monthly cost (after amortizing fees, etc. over life of lease) $523.63 Like the dealer very much (outside of Boston). The mysterious Ad Fee is not included in Invoice price. So if the dealer paid that on this one, net cap was actually $78 UNDER invoice. And if anyone is curious, I know what the dealer is paying for the $. It is a lot less then the 4.632%. That is where they will make their money. But I am very happy with the deal overall. And British Rover, no insult taken. Just playing hardball. And it paid off.
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Replying to: bateman1 (Sep 23, 2007 10:55 am) The Boston dealers are literally killing themselves with competition and in fighting. It would be funny if it didn't spill into my market from time to time. I am guessing you were at Norwood. They are really whoring it out to the point they are ruining the market for everyone else. If it wasn't Norwood I bet it was Sudbury/Herb Chambers.
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Replying to: british_rover (Sep 23, 2007 12:27 pm) |
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It was Cab East LLC, subsidiary of Ford Motor according to SEC filings, not LRFC (which is also a Ford subsidiary of course). The dealer got it at 1.9%, gave it to me at 4.632%, which is fine really. And yes, it was Sudbury - I think the word went out to move the LR2 SE prior to the HSE's hitting the market in 4 weeks or so. There are 5+ dealers within easy distance from Boston, so you're right, competition plus Herb's buying power (low cost $) allowed for a pretty good deal (I think). Can't wait for it to snow.
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