Thank you

This isn’t unique to Range Rovers. Look at any car at this end of the market and find me one that doesn’t clobber the owner with massive depreciation. It’s the price we pay for driving really nice new cars It may have cost huge amounts of money, but my justification is that the depreciation will level out as the mileage reaches the stratosphere and at least I’ll have a known history from new and have been able to spec it exactly how I wanted it. So I won’t be spending any time calculating depreciation, stay in blissful ignorance and just enjoy the ride

Chalky wrote:

Friend bought a Tesla for £120K and sold it for just under £60k within 12 months because of battery problems etc, now that's what you call depreciation!!

I hear that UK Tesla dealer trade-in offers (on Teslas) can be shockingly low.

Quite a few of my work colleagues have Tesla’s and have all reported shocking trade in values, but reasonable prices via Motorway. Feels like main dealers in particular are just ripping people off, probably because most people can’t be bothered with the hassle if selling elsewhere? Sold - Bell a 2015 MY16 Loire Blue Autobiography 4.4 SDV8
Previously George a 2007 MY07 Java Black VSE 3.6 TDV8
Previously a 04 MY04 Defender 90

What cars are even remotely comparable, in terms of luxury (if not capability?)?

BMW 7-Series
Mercedes-Benz S-Class
Jaguar XJ
Lexus LS

All of which depreciate horrifically.

I’m sure folks on other forums say the same thing. 2012 4.4 TDV8 Westminster - Baltic Blue, Jet interior
1997 P38 2.5 DSE auto & 1998 P38 2.5 DT Manual
1988 Vogue 3.5 EFI - Manual, gone.
2004 Volvo C70 2.0T convertible, had since new.
2007 Mazda MX-5 2.0 Sport Roadster/Coupé, had since new.
2024 Mini Cooper S cabrio, JCW kit, 2.0, DCT auto

verydisco wrote:

Chalky wrote:

Friend bought a Tesla for £120K and sold it for just under £60k within 12 months because of battery problems etc, now that's what you call depreciation!!

Hi Chalky.

While I can confirm L405s' value are dropping like bricks, unfortunately - ask me how I know, I'm struggling with the idea a brand new Tesla would drop 50% in 12 months - any car for that matter.

First of all, even if you spec them to the max, a Tesla Model S doesn't go above 106K and a Model X above 116K.

If there is a problem with the battery, it is fixed under their 8 years warrantly or you can return it if they can't fix it at all.

A dealer would not even offer 50% on 1-year-old car, no electric or traditional.

Could you check with your friend - From what I have seen, Tesla hold their value much better than L405s...

Shooting ?  2021 L405 Vogue SE 4.4 V8 DIESEL ~ #17

I think one of the joys of owning any car that depreciates rapidly is that others cant or wont afford it, i.e. it keeps those cars fairly exclusive. I have friends who snigger (jealously I believe) at me for owning a RR because they pick their cars based on mpg or maybe even depreciation in £s. My wife has a new Mazda, its a nice car, but my RR will depreciate more in two years more than hers cost new, notwithstanding other costs like VED, Insurance, Fuel, tyres and the cost of servicing. If you have a RR you are a member of an exclusive club - exclusive clubs cost money.

But you can also get the benefits of these more expensive cars by buying when a few years old and then yes you can pick up a car that cost over a hundred grand for very little money indeed.

Finally you can if you like do what thousands of others do take out a PCP and get a new car every few years for a couple of hundred quid a month. It will be a car that has no exclusivity whatsoever, a bland car from a bland brand.

Oh and of course don't forget that you are driving the most luxurious, comfortable and probably the most capable luxury car in the world. Geoff

A guy in work has just got a Peugeot 5008 1.5 TD 7 seater on PCP. He was very open about the figures paying £470 pm in a 4 year contract and said he’ll be back in 3 for a swap. He came from a VX insignia and did the whole deal in a week. He loves it and I asked him about the mileage limit which he said is 12k. He said he was told that to put down the lowest deposit, take the smallest monthly payments and if he goes over the contracted mileage the savings of a lower payment will more than pay for the mileage financial fine . He’s got insurance for this and that with the car. A nice guy but I think he’s been cornered. I suggested to him would you not have been better off keeping the VX and making £470 worth of overpayments to your mortgage . I think once the honeymoon period is over that £470 pm will wear thin.

Equally another guy (there are 3 on PCPs’) who’s doing well with his X1 but won’t give any details of payments etc.
Lastly guy no3 has a S7 or an RS7 having come from 2 S3’s. He said he was paying £500 pm for the 3’s but did say he was over the mileage and had to put down an extra £10k to get out of the 3 and into the 7. I don’t know what he’s paying a month.

That level of payment is amazing. I’m paying similar a month to drive a 4yr old AB FF! Granted fuel and insurance are higher but with fixed price servicing and using an Indy for non warranty work I doubt it works out as dramatically more expensive.

Went lease purchase rather than PCP to give a modicum of control and get the interest rate right down. I’m still flabbergasted at the amount of people who don’t focus on the APR they’re paying and just check if they can afford the payment. 2016MY Carpathian 4.4SDV8 Autobiography (Stolen) 😡
2010MY Buck Blue 3.6TDV8 Vogue. Gone but not forgotten.

Different people will always be looking for different things in their cars.
This time last year after being offered <£10K for my very clean 11 plate 4.4 VSE with under 100k miles against an overpriced L405 I decided to keep mine and take on a leased Outlander PHEV as a company car to reduce the miles that I rack up on mine.
HUGE mistake, once the novelty of the (tiny) electric miles wore off I quickly started to dislike the car to the point where after 5K miles I hated it and resented paying £400 a month for it, particularly as I was using it less and less and was putting more miles on my Rangerover. I bit the bullet, paid the early termination fees and bought a cheap TDV8 to use instead. I'm now much happier.
On the flip side of that, at the same time I leased a Vitara for my wife, £1K deposit and well under £200 per month, she loves it and I'm still happy driving it, the more I drive it the more difficult I find it to justify having 1 never mind 2 Rangerovers.
I can't see me putting a big lump of my cash into an expensive car anytime soon.

gettingold wrote:

...I asked him about the mileage limit which he said is 12k. He said he was told that to put down the lowest deposit, take the smallest monthly payments and if he goes over the contracted mileage the savings of a lower payment will more than pay for the mileage financial fine

The things sales people will say to get the prospect to put an unrealistic annual mileage figure down to make the monthly payments look affordable! They’ll have him by the short and curlies at the end of that agreement.

I’ve had sales people try and talk me into a potential £14,000 shortfall at the end of an agreement and; an ex colleague was talked into PCP’ing a 3 Series at 10,000 miles a year, when he would have known that it should have been nearer 30,000 a year! No wonder it cost slightly less than his previous C-Max...

When it came to change time, the only thing he could afford to do was get in deeper with another, scum spec, 3 Series, at a much higher cost. Lord knows what additional 💩 he was in at the end of that one 😳

Range Rovers, Discovery’s, Land Rovers in general. There money pits, cost a fortune in depreciation, fuel and maintenance. I’ve owned so many over the years I’ve lost count. Would have saved myself a fortune choosing a different make, probably could have paid my mortgage off years earlier

For some a car is all about A to B, for myself I’ve always wanted something I enjoy being in, and for the last 20 years that has been Land Rovers and I can’t see that changing anytime soon. I just accept that will cost a lot more than many other makes.

As posted elsewhere on here when it was possible to set some of my car expenses against tax the accountants calculated depreciation as 25% of the reducing balance, and that seemed to work out about right. This in the days of Classics. Perhaps the market is going back to that, and the era of lower depreciation driven by cheap finance and Solihull being unable to keep up with demand for new vehicles is over for the moment. Presumably supply exceeds demand now,maybe the "climate emergency" effect is making RRs less aspirational and, perhaps the biggest factor, dealers are under pressure to get profits from somewhere when sales of new cars have fallen so much.

I'll be sticking with mine anyway, life is too short.

Off topic, but on dealer behaviour re finance, the Financial Conduct Authority is looking at this, particularly the way dealer commission would be higher if they could get customers to accept higher rates of interest. Lookers have announced they are being investigated, maybe others too. Only Range Rovers since 1988

SS.Lyria wrote:

It makes you wonder if contract hire/leasing is the way forward. Although the prices for that will start shooting up when their systems become aware of the high depreciation going on at the moment.

I’m coming to the conclusion that I will run this one into the ground.

In a year or two I will buy electric (as a second car)

I can not for the life of me part with 100,000 plus for a new car. Then see that money disappear up its own exhaust pipe
within 5 or 6 years.

I don’t need to own the most expensive car in the street. I’m exceedingly cross with JLR , all thru the devil’sfuelgate, there has been no attempt by this company to fight back. Thus their investment , market and jobs, go up the swanny along with our investment in their product.

The claim is. The earth is warming, cut back on CO2 , diesels succeed in that ambition, , the Euro 6 engine is so much cleaner than the predecessors, but the kicking diesel has had from the tree huggers means there will be no euro 7 or 8 or 9 engines . Therefore no cleaner and no further reductions in C02 .
The BBC were even saying the other day the upstream electric production will not be c02 free /captured for another 100 years. That means the ban on new diesel is 90 years to early

Rant over.  Filters are in fact so good that in certain circumstances, when the ambient air is already polluted, a diesel car will tend to extract more particles from the air than it emits. Emissions Analytics worked with........etc etc

He who dies with the most toys wins...