MattScott
Approved Vendor
What about the Autozone rear lights that I like?
Will LR4 prices hold?
- Thread starter LtFuzz
- Start date
What about the Autozone rear lights that I like?
proper4wd
Expedition Leader
I understand the sentiments of the long-time Land Rover owners here. I am one myself.
If you look at the data, though, the resale market values of all Land Rover products has been on a steady, if not sharp, increase in the last 5 plus years. Discounting the rare instances where someone bought an LR3 for next to nothing, it is difficult to find a clean LR3 of any year or mileage for less than $17000. Considering these cars sold new in the high-$40k price bracket some 6 years ago, I'd say that a 30% residual value is very strong and much stronger than many German brand SUVs.
Once again I understand the general sentiment here, but the numbers don't lie. I work with these numbers on a daily basis in my position with Land Rover and can absolutely state that resale and residual values have never been stronger. There is no reason to think that this trend wont continue or at least maintain at its current level.
If you look at the data, though, the resale market values of all Land Rover products has been on a steady, if not sharp, increase in the last 5 plus years. Discounting the rare instances where someone bought an LR3 for next to nothing, it is difficult to find a clean LR3 of any year or mileage for less than $17000. Considering these cars sold new in the high-$40k price bracket some 6 years ago, I'd say that a 30% residual value is very strong and much stronger than many German brand SUVs.
Once again I understand the general sentiment here, but the numbers don't lie. I work with these numbers on a daily basis in my position with Land Rover and can absolutely state that resale and residual values have never been stronger. There is no reason to think that this trend wont continue or at least maintain at its current level.
Scott Brady
Founder
Quality and reliability has improved, which has improved resale value for all of the trucks. Personally, I like the LR3 a lot. It is the newer Rover I recommend people buy. BMW engineering and quality systems greatly improved the platform.
I am really enjoying the LR4. So far, it is a pleasure to drive, but we just don't have enough time with it or enough trail testing to give a long-term recommendation.
I am really enjoying the LR4. So far, it is a pleasure to drive, but we just don't have enough time with it or enough trail testing to give a long-term recommendation.
Ryanmb21
Expedition Leader
The numbers don't like? Using your example and Land Rover depreciates ~$5K a year (or $13/day). Maybe it's just the fact that I'm a CPA, but this is horrendous.
LtFuzz
Explorer
The LR3 is the smarter buy in all respects -- and it would cost me $20k less all day long.
But my own vanity is proving to be more formidable than I anticipated. The LR4 just looks way cooler to me, even though the exterior differences are relatively insignificant.
Man, talk about First World problems.
LtFuzz
Explorer
You probably wouldn't like watching me throw a $50k truck into a muddy rut, then. :sombrero:
BMW?? They had nothing to do with the LR3/4. The real quality improvements came under Ford. The BMW engined RR has turned out to be a major POS. real quality came after 2006.
The LR3 is the smarter buy in all respects -- and it would cost me $20k less all day long.
But my own vanity is proving to be more formidable than I anticipated. The LR4 just looks way cooler to me, even though the exterior differences are relatively insignificant.
Man, talk about First World problems.
All of the exterior changes can be bolted on - the color coded fender flares and the rear license panel are the bulk of the visuals and can be done for far less than the cost difference of an equal mile LR3 to LR4. I'll bet that you can do EVERYTHING, even the bumpers and lights, for less than the cost difference. (using good JY parts, not dealer new)
Just ideas if it's strickly the visuals.......
Hmmm...on the subject of updating, I wonder if you could install a 4.2 liter RRS Superchaged motor, and use a Faultmate (or equivalent) to program the LR3 engine ECU with the RRS code to run it? That would bump the power to LR4 levels.
Rovertrader
Supporting Sponsor
Felix, thought of you yesterday as a fella offered me $20k plus his 84k mile '06 big body RR(aprox $20 k value) for my '11 JKU. The RR had a list of $83.3k, and I had to turn him down as Manheim shows only mid teens for his RR. Or $70k depreciation in 6 years, and this on a prime low mile example. However, the point being LR touted the new RR the same way as the LR4, especially since it replaced the pitiful P38!!
Apples and oranges you may say, but I feel much more applicable than that- same story, different model. But as they said in the Big Chill(yea, I know- showing my age) "what is a day without a rationalization." Buy what you like, but really be sure you like what you are getting ready to buy
Apples and oranges you may say, but I feel much more applicable than that- same story, different model. But as they said in the Big Chill(yea, I know- showing my age) "what is a day without a rationalization." Buy what you like, but really be sure you like what you are getting ready to buy
proper4wd
Expedition Leader
It may be horrendous when taken in the abstract. When compared to the depreciation of comparable SUVs the facts are revealed. For example, a 2007 Mercedes Benz GL450 which would have had an original sticker price of ~$80,000 now commands ~$27,000. This is $9k per year depreciation (conservatively).
The steep depreciation curve of luxury autos is nothing new and will never go away. If you want to see something really scary, look at the residual values of the Mercedes Benz S-class or BMW 7 series. All things considered, luxury SUVs are not hit as hard and the LR4 in particular is quite strong (especially when compared to historic Land Rover values). This is the point I would like to make.
I will concede that full size Range Rover values decrease quite steeply. They depreciate more similarly to a luxury sedan.
I imagine your decision was based More on the fact that you did not want a RR to sell. $35k seems like a great offer on a Jeep JK.Felix, thought of you yesterday as a fella offered me $20k plus his 84k mile '06 big body RR(aprox $20 k value) for my '11 JKU. The RR had a list of $83.3k, and I had to turn him down as Manheim shows only mid teens for his RR. Or $70k depreciation in 6 years, and this on a prime low mile example. However, the point being LR touted the new RR the same way as the LR4, especially since it replaced the pitiful P38!!
Apples and oranges you may say, but I feel much more applicable than that- same story, different model. But as they said in the Big Chill(yea, I know- showing my age) "what is a day without a rationalization." Buy what you like, but really be sure you like what you are getting ready to buy
David Harris
Expedition Leader
Tell me about it. . . '06 Rangie+20K for an '11 JKU would be a no brainer for me.