It’s no secret that Land Rover will launch its new and smallest model ever, the 2012 Evoque SUV this October. Base price: $46,995. The obvious question: What’s the deal on the smallest Land Rover currently in the lineup?
And the answer is a leasing offer on the LR2.
The all-wheel drive LR2 HSE lists for $44,950, but if you’re a loyal Land Rover owner you’re eligible for about $5,000 in cash incentives and you can combine them with a two-year lease rate of 1.9% – and then there is whatever dealer discount you can swing in the finance department. I’d shoot for a couple of grand there.
This is the sort of thing that happens in the very fluid new car market. Models come and go, get updated and overtaken – sometimes by new ones from the same brand. Case in point: the LR2.
It’s a very nice little rig, but it does not drive as well as the upcoming Evoque. Don’t just take my word on that, either. I got that from a ride and handling engineer at Land Rover itself.
Yet there is nothing bad or wrong about the LR2. And it has one of the best residual values in its class. That means a lower monthly payment because down the road Land Rover expects the LR2 to do well in the used car market.
A last tip for those who do lease: make sure you know exactly what the final lease rate is, and the exact residual value – what the car is worth at the end of the term – and the exact capital cost. The latter being the actual price on which all the dealing is based. You won’t know what you’re paying if you don’t have these pieces of the deal.
Okay, a couple of others.
The current Toyota Camry is being replaced this fall with a renovated version, which of course means Toyota Canada wants to keep the current model moving. Deals of the Week found that Toyota Canada will match your down payment of up to $1,000, and allow you to combine that with $1,500 in a factory rebate, and combine all of that still with 0.0% financing for up to five years. Good deal.
Meanwhile, the Honda Pilot is due for a freshening this fall and thus the current one has a $4,000 factory rebate in play. And an all-new Lexus GS is coming later this year, too, and so it has a $2,000 factory rebate available. In all cases do not forget to push for a dealer discount, too.
As usual, Deals of the Week obtained pricing information from www.carcostcanada.com. Here are the numbers.
2011 Land Rover LR2 HSE AWD
Freight, dealer prep, air conditioning tax: $1,370
Dealer discount (estimated): $2,000
Factory discount: $3,935 (Lease Cash factory-to-dealer rebate)
Taxable subtotal: $40,385
Total price with 13% HST: $45,635.05
Note: lease rate of 1.90% for two years
2011 Toyota Camry SE
Freight, air conditioning tax and dealer prep: $1,590
Dealer discount: $1,000
Factory discount: $1,000 (Down Payment Matching Offer factory-to-consumer rebate)
Taxable subtotal: $27,345
Total price with 13% HST: $30,899.85
Factory discount: $1,500 (Consumer Cash factory-to-consumer rebate)
Note: Finance rates of 0.0% for five years
2011 Honda Pilot EX-L 4WD
Freight, dealer prep and air conditioning tax: $1,690
Dealer discount (estimated): $1,700
Factory discount: $4,000 (Non-stackable trading dollars factory-to-dealer rebate)
Taxable subtotal: $39,010
Total price with 13% HST: $44,081.30
2011 Lexus GS 350 AWD
Freight, dealer prep and air conditioning tax and Green Levy: $2,050
Dealer discount (estimated): $2,500
Factory discount: $2,000 (Non-stackable Trading Dollars factory-to-dealer rebate)
Taxable subtotal: $52,200
Total price with 13% HST: $58,986
Pricing information source: www.carcostcanada.com. Calculations based on Ontario customers. Please note that while the information above is accurate at the time of publication, incentives are given at the discretion of individual dealers, and may be changed or discontinued at any time. Dealer discounts are negotiated with the customer on a case-by-case basis.