I tend to keep up with the wholesale and retail values of vehicles from prior work in this industry as a car broker. I had posted a thread about a month ago concerning wholesale values on the RR's.

I had a chance this weekend to research values a little on "our" vehicles. To my surprise and delight, range rovers, the newer ones, are holding their values quite well. In looking back, to Nov and Dec of 2008, they have actually increased in value! This is highly unusual in the auto business.

I spoke with some friends in the industry this weekend and what they are saying is that the used car/truck market in general is doing very well. Used car managers are paying a whole lot more at the auctions than they used to because they are commanding higher money at the auctions.

New car sales are not doing quite as well but are picking up. This is all good news for the car industry.

 

I don't know how you figure or calculate this. I paid $89k for our 06 HSE new, $94k for my 08. A new HSE is selling for around $70k. Our 06 Sport was $67k new, could buy a brand new one for less than that too. There's no way to put a "value" on my old P38, or 01 Disco or Classic. Bottom line is they're only worth what someone will give you for them, and the depreciation on new one's has been so drastic there's almost no choice but to keep them - which blows because there's little worse than owning one outside of warranty.

 

Very timely post because I need to solidify a replacement car and will most likely go to the auction.

I am all about buying a pre-owned Range Rover right now as I simply cannot justify a new one with the depreciation hit, the recent hit on my portfolio and I am perfectly content with my 2007 model year. Through a lot of research I have found that a 2007 certified RR SC is about $60k at the dealerships. Carnut, can you tell me what a 2007 FFRR SC going for at auction right now? Last time we discussed this it was about $51k.

I expect the values to drop more sharply as the summer approaches (cyclical drop), gas prices increase (busy driving season) and we close in on the 2010's (August / September).

 

In response to mlshelton's comments...there is no doubt that these vehicles take a tremendous hit in value the first 1-2 yrs in depreciation. It is almost insane to buy one new because of this. What I am referring to, and it is my fault for not making it clear, is that the later models (2005-2007) have really done well in the wholesale arena in the past several mos. The 2007's have increased in value around $500 since the end of 2008 which is extremely unusual in this business. The older ones, however, continue to depreciate at their normal rate.

In response to Luxury1, the current books show 2007 SC's RR still at $51-51500. They are holding their value. You are most likely right about the potential decrease in value once spring and summer hits. Typically SUV's do depreciate quicker during these times.

 

Thanks Carnut!

 

Carnut,

Do you know what the 08 resale value is for a FFRR HSE and for the SC?