LR3SE Lease Question

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LR3SE Lease Question - 12/8/2007 3:57:02 PM    robinakirk   Posts: 1 Joined: 12/8/2007 Status: offline First time poster, I want to lease a 2007 LR3SE with Cold Climate, Headlights, bluetooth and Sirius, for 24 months and 12k per year. I have been quoted $4,000 out of pocket, and $640 inclusive of (NJ) taxes per month. Is this a good deal? Which may be a better dealer in the Philadelphia area, as they had quite an attitude? Thanks, because I would like to get back into a Land Rover, having once owned a (trouble free!) Disco and an older (troublesome) RR. Post #: 1

RE: LR3SE Lease Question - 12/9/2007 1:45:57 PM    Max_A6   Posts: 75 Joined: 2/5/2007 Status: offline As a starting point: 0 down (i.e. VA taxes + dealer fees only), $655/month for 30 months, 12,000 miles a year - that's what I was quoted in Feb on a 2007 HSE. LR had huge incentives (~$4K + 0.9% financing), not sure what they offer now. (in reply to robinakirk) Post #: 2

RE: LR3SE Lease Question - 12/10/2007 5:38:54 AM    discoandaboat   Posts: 40 Joined: 9/17/2007 Status: offline so it you take that $4000 out of pocket and add it to your payemtn your really paying $806.66 month for a lease. Seems REAL high to me (in reply to Max_A6) Post #: 3

RE: LR3SE Lease Question - 12/10/2007 10:27:07 AM    Jantiz Posts: 425 Joined: 2/2/2007 Status: offline   Leasing a LR is never done primarily for saving money. It is mostly done to have an easy way to get out of it early. Lease payments are always calculated based on the expected depriciation of the vehicle during the time it will be leased and we all know Land Rovers in general get hit fairly hard on those first 3 years for depriciation. That translates into higher than average lease payments. You will find when you work out the numbers on both buying against leasing, that the  payments will be fairly close either way with leasing saving you a few bucks per month. The bottom line in the lease against buy question is this: If you have problems keeping your vehicles below 12k miles per year, do not lease. Penalties are monstruos. If you are more concerned with the savings on the monthly payment and use your vehicle sparingly, and want an easy way to get into a new vehicle every 2 to 3 years; lease. Just remember that in the long run, leasing will always be the most expensive way to own transportation. _____________________________ 2006 LR3 HSE / 2004 Discovery II SE / NCLR Member (in reply to discoandaboat) Post #: 4

RE: LR3SE Lease Question - 12/14/2007 11:57:24 AM    cocca   Posts: 13 Joined: 11/24/2007 Status: offline Ask the dealer what "out of pocket" means?  One of the key questions is what is the "Capitalized Cost Reduction", that is, the money down??? $4k out of pocket is dealer-speak and it's bullshit - don't let them get away with it.  Get a firm break down of what the fees are.  There is bank fee, first month, motor vehicle (by the way if you're buying the truck out of State there is NO MOTOR VEHICLE FEE because you're registering out of State), and then down payment (cap. cost reduction). By getting a breakdown you can really determine the true monthly lease payment.  What you would do is take the down payment (cap. cost reduction) and divide it by the 24month term of your lease and then add that amount to the $640. Also, get them to take out the Taxes so you know what the monthly amount is.  Get a base number for the Truck with nothing else added to it.  Then, if you want cap cost, add it to the price (in your head) to get your TRUE figure.  If you want to finance the taxes instead of paying them upfront, fine. Here, you are not paying for taxes as part of your "out of pocket".  WOW.  That means that AT LEAST 2k of the 4k is down payment. Insofar as a lease "saving you money", versus buying, it's true that you have to pay costs each 2 to 3 years, but it lets you get into a much higher priced car for much less than buying it outright.  In general, the lease is designed to have you pay the depreciation for the term of years you drive the car.  The big downer is that each time you start a new lease you have to pay taxes again and bank fees again and inception/end of lease fees.  So, it may end up costing more than a new car if you're the kind of guy who buys ever 15 years. Also, the mileage costs .25cents per mile over the alloted mileage.  If you're not going to drive 24k miles in 2 years go with the 10.5k option.  It will save about 20bucks a month on the lease. Finally, the dealer is not doing you any favors at $640/month with that amount of money down.  He can do that same deal (on the 2007) for $540 if not less. Good luck.  It's an awesome truck . . . . . . . < Message edited by cocca -- 12/14/2007 12:02:07 PM > _____________________________ 2007 LR3 SE 2002 E430 4-Matic (in reply to robinakirk) Post #: 5

RE: LR3SE Lease Question - 12/18/2007 5:07:58 AM    sthies   Posts: 3 Joined: 11/18/2007 Status: offline They are ripping you off! Go to Landrover in Parsippany NJ (Paul Miller dealer). You will save a ton by leasing one of their service loaners with 1 or 2k on it. You can't tell the difference from an 06 with 2k on it to a 07new. Just leased an 06 with $1400 down, 36month and $474month! Plus you get a longer lease than 24 months. Dropping 4k down and then in 2 years your going to do it again? (in reply to cocca) Post #: 6

RE: LR3SE Lease Question - 12/25/2007 10:33:53 AM    joek71   Posts: 3 Joined: 12/25/2007 Status: offline Try glen cove Range rover ask for Anthony, he give you great deal. (in reply to sthies) Post #: 7

RE: LR3SE Lease Question - 1/29/2008 7:29:11 AM    coolchange   Posts: 4 Joined: 1/29/2008 Status: offline First time poster also...we leased an 06 LE, Xenon, Sirius, cold climate, had them add a tow package and it was an 06 last year for $3165.61 down and $387.10 per month. This was a loaner with less than 10K on it and mileage allowance of 13,500.  You'd be paying too much in my opinion.  We found the figures online from someone who had done the same in March 07 and both dealers we approached said they would match it. We unfortunately need to downsize and are looking for a lease takeover at $387.10 per month until March 09.  If you know of anyone wanting to drive a perfect LR3 for a deal, please forward my message.   Another 13K left and you can decide if you like one for 13 months and walk away.  Atacama Sand color, immaculate and we added the cargo mat.  Full LR service yesterday. We are located in NW Florida 850-537-7054 (in reply to robinakirk) Post #: 8

RE: LR3SE Lease Question - 2/3/2008 1:15:23 AM    MarkinWEHO   Posts: 7 Joined: 2/2/2008 Status: offline I got into mine in NYC (2007 V8 SE w/ Nav/Leather/expected toys, etc.) for a total out of pocket of $1100. My lease payment is about 720.00 but I have NO substantial sum in it, either. The bitch was paying NY state sales tax all in one lump sum in advance. Don't bother trying to get it back if you leave NY. They don't do refunds at the NY tax authorities. (I TRIED!) While no bargain, I've got a 24 month 12k /year lease and can walk away at the end of it with relative ease. I like this puppy well enough if I can get a decent deal from he dealer, I'll buy it at the end. BTW: that deal was at Land Rover in Manhattan - the flagship store. The dealer that is quoting you $4k down and the payment of six-ish is not doing you any favor at all. With $4k down and a good deal, you should push the payments down under 6/mo. Quite a way down. Good luck. They great vehicles. Love em! _____________________________ Life is a banquet and most poor suckers are STARVING... --patrick dennis -- "Auntie Mame c. 1955" --- (in reply to coolchange) Post #: 9

RE: LR3SE Lease Question - 2/3/2008 6:34:31 AM    coolchange   Posts: 4 Joined: 1/29/2008 Status: offline Hmmm, we don't pay any tax up front in FL/GA.  It's rolled into my $387 per month and I get 13,500 miles per year.  $2,100 up front.  It says in my contract "upfront taxes: 343.50" (I purchased it in Atlanta).  I hand the keys in at 27,000 miles and walk or buy. $720 sounds kind of high... I'll pay a total of $11,488 (including tax) to drive 27,00 miles for 24 months. Yours is at $18,380 with less miles and you have to pay tax on top of that?  (in reply to MarkinWEHO) Post #: 10

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