Member Since: 08 Jan 2011
Location: Chilterns
Posts: 4130
Yes but without it you would never be able to buy or sell a used car other than privately with all the risk involved.
30th Aug 2017 6:52 pm
DSL Keeper of the wheelie bin
Member Since: 11 May 2006
Location: Off again! :-)
Posts: 73079
I've stopped looking at cars similar to mine on dealer forecourts thinking "they are worth that so mine must be too". It doesn't work that way.
30th Aug 2017 6:54 pm
D&G
Member Since: 29 Jun 2017
Location: Charente 16480
Posts: 3483
I was looking at that margin and thought it was fairly tight. It wouldn't take much to go wrong with LR before a third of that has gone. Or do traders cover it all with warranty insurance?
I don't think it was covered on mine.
But what do I know An honorable defeat is better than a dishonorable victory.” ― Millard Fillmore
2006 Disco 3
Gas Gas 300ec / Gas Gas tx249 / Bandit 1250
XR 650r / Pajero 2.8 Lifted and Safari Snorkel-gone.
30th Aug 2017 6:59 pm
Gazellio
Member Since: 08 Jan 2011
Location: Chilterns
Posts: 4130
Most used dealers ("traders" sell within the trade) offer insurance based warranties but these do not always cover everything and sods law means the expensive faults are not always covered.
It can be a risky business.
30th Aug 2017 7:44 pm
Dusty
Member Since: 23 Sep 2013
Location: London
Posts: 1022
Gazellio @ Prestige Cars wrote:
I think you may have misunderstood the valuation system. Its based on Autotrader & CAP data.
If you bought for £21500 "Retail" in the spring and its £18000 "trade" now then your car has not devalued at all.
If a dealer buys your car at £18000 he will want to get £21500 gross minimum. (A main dealer a bit more)
I understand the trade have to factor in a margin. But going by what I paid for mine retail and if I was offered the autotrader PX valuation tomorrow on a deal I would have done a cool £41.00 a day in depreciation in 8 months. Factor in diesel, tax and servicing and it probably would have been cheaper to get a taxi everywhere!!
I appreciate I could get more with a private sale, but it's not easy selling £30k+ Land Rovers without a warranty Discovery 4 HSE
SDV6
2015
30th Aug 2017 8:04 pm
D&G
Member Since: 29 Jun 2017
Location: Charente 16480
Posts: 3483
Gazellio @ Prestige Cars wrote:
Most used dealers ("traders" sell within the trade) offer insurance based warranties but these do not always cover everything and sods law means the expensive faults are not always covered.
It can be a risky business.
Based on the 18k in and 21500 out the gross is only 16.3%.
From a business perspective I think that is fairly tight margins especially with the risks of further costs. Probably manageable for a small business.An honorable defeat is better than a dishonorable victory.” ― Millard Fillmore
2006 Disco 3
Gas Gas 300ec / Gas Gas tx249 / Bandit 1250
XR 650r / Pajero 2.8 Lifted and Safari Snorkel-gone.
30th Aug 2017 8:17 pm
DigitalJunior
Member Since: 22 Nov 2008
Location: Cumbria
Posts: 4401
The days have gone of making a profit on a Discovery
Bought a D3 when the prices plummeted for £12000 and sold £14000 2 years later
30th Aug 2017 8:31 pm
JackNorris
Member Since: 06 Jul 2012
Location: Beds/Bucks Border
Posts: 1879
I couldn't use the Autotrader link as didn't want to sign up, but my d4 on land rover site 1 year on has only lost £5,000.
Not bad i don't think given circumstances.MY2023 Discovery 5 R-Dynamic 3.0
MY2020 Discovery 5 Landmark 3.0 - SOLD
MY2005 Discovery 3 V8 4.4 HSE - SOLD
MY2019 Discovery 5 SE 3.0 - LR Replaced !
MY2005 Discovery 3 S 2.7 - SOLD
MY2016 Discovery 4 Graphite - SOLD
MY2015 Discovery 4 SE Tech - SOLD
30th Aug 2017 9:08 pm
Gareth Site Moderator
Member Since: 07 Dec 2004
Location: Bramhall
Posts: 26772
That's depressing! £23350 private for my Lux I'll be keeping it then.
The Jag F Type has done much better. £41000 at 3 years old is better than I thought it would be.
30th Aug 2017 9:53 pm
EMcC
Member Since: 10 Jul 2015
Location: Wiltshire
Posts: 536
I have always kept my Discovery's for the warranty period and then part ex with between £10k and my latest one was £20k for a similar spec new one.
Mine isn't due for change until March but I have been wondering what to get now the real Discovery's are no more.
As a result have been asking around for a valuation for my March 2015 Discovery SE with walnut interior panels, privacy glass from passenger door to rear, metallic paint, sump guard, full size spare wheel + theft guard and removable tow bar with electrics with 27k on the clock. It also has the residual period of the five year service plan.
No dinks or scratches either and all I have been quoted is between £27 to £27.500, so it looks as if I will have to pay out considerably more to part ex when the time comes if I stay with the Landrover marque.
I had it serviced recently and asked one of the sales reps to have a look at it while it was in the garage. He said he would have a good look and give me an estimate based on part ex for the new Discovery SE.
After a week he hadn't got back to me so I rang the garage and asked the office to chase the rep up for my estimate. It is now over a month and have heard nothing so obviously the market for used Discovery's has dropped out !
30th Aug 2017 10:00 pm
Gazellio
Member Since: 08 Jan 2011
Location: Chilterns
Posts: 4130
deleted
Last edited by Gazellio on 30th Aug 2017 10:10 pm. Edited 1 time in total
30th Aug 2017 10:08 pm
Gazellio
Member Since: 08 Jan 2011
Location: Chilterns
Posts: 4130
The new one with £20k loss over 3 years has cost you £18.31 a day or 6 take away cappuccinos
30th Aug 2017 10:09 pm
EMcC
Member Since: 10 Jul 2015
Location: Wiltshire
Posts: 536
I only have a fixed income so can only save a certain amount and could manage it before but now the future looks bleak
Possibly no more cappuccinos or a Hyundai/Kia !!!!
30th Aug 2017 10:11 pm
Gazellio
Member Since: 08 Jan 2011
Location: Chilterns
Posts: 4130
As I just pointed out to EMcC selling to me will get you a slightly higher trade value PLUS you become a cash buyer at the main dealer and can ask for a decent discount. Double win so always worth asking for a bid.
* But I cannot match retail/private values.
** Highly specced SE's will depreciate a lot quicker than a factory high spec HSE/HSE Lux
30th Aug 2017 10:22 pm
Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
You've got to appreciate Gaz's candour. We'd all like a lot of money for our cars, but the reality is different. Certainly he'd be very fair and trustworthy, you can't ask more than that.
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That's depressing! £23350 private for my Lux 
I'll be keeping it then.
