Depreciation of your Discovery Sport

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Posiden
Posts: 45
Joined: Thu Apr 11, 2019 3:16 pm

Depreciation of your Discovery Sport

Post by Posiden » Wed Jan 13, 2021 7:19 pm

Probably going over old ground here but I had to tell someone.
Ive had my 68 plate for nearly 2 years now (a second hand pre registered car, thank heavens I didn't buy it new.)
I thought I would look at the Landrover website to see how much a new version of my current car would be.
So after playing a few tunes on the website and getting as close to I could to my 68 plate Tech SE, the website tells me a new version of my two year old car is ..............£48,000.!
So after I had got back on my chair I thought OK how much is mine worth as a part Exchange............£19500..!
Two years old, 25000 miles on the clock and its lost 50% of its value........yeah I know you loose 20% tax straight away
So going on those figure I think its cost £466 per month in depreciation.

Am I just being grumpy and have to accept that 'this is the way'.
Sure they would sell more cars if they were a little bit cheaper / didn't loose money as quickly.

SarahStreet
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Location: Coventry, GB
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Re: Depreciation of your Discovery Sport

Post by SarahStreet » Wed Jan 13, 2021 8:21 pm

The online valuation tool on the LR website will always undervalue your car, as much as up to £5k compared to the other notoriously under-valued website (WBAC).

You are better off using Auto Trader, Parker’s and the AA for a broader idea. All offer free valuations, and all will come back significantly higher than the LR offer. They are undervalued on purpose, for reasons that I won’t go into on here.

Way318
Posts: 61
Joined: Sat Jan 19, 2019 8:53 pm

Re: Depreciation of your Discovery Sport

Post by Way318 » Wed Jan 13, 2021 10:06 pm

I normally use Autotrader and add a car I'm interested in to the list of cars I own and that will give you an approx price for Private and Part Ex.

E.g. mine is 2yrs in March (19 plate DS Landmark with 8900 miles) and Auto Trader says - Private is £28,130 and Part Ex £26,250.

Retail for my car was just under the £40k, so Autotrader figures suggests its lost £13,750 in 2yrs.

I got mine at JLR employee price of £30K, so that would suggest its only lost £3750 in 2 yrs, but I very much doubt I would get £26K if I could swap it.

Mine is on PCH, so don't have to worry about depreciation as once lease is finished it goes back to lease company or I get the option to extend it for up to a maximum of 60 months, which it tempting when its just £290pm inc RFL

Posiden
Posts: 45
Joined: Thu Apr 11, 2019 3:16 pm

Re: Depreciation of your Discovery Sport

Post by Posiden » Wed Jan 13, 2021 10:15 pm

thanks for the replies.
I always thought the LR valuation was crap as you can search for the same car in the LR approved stock and find it for £25k upwards.
Im old school and have always bought cars outright but looking at the money lost loss on a vehicle in general terms and the 'hidden monthly cost' of depreciation (£400 a month or there about.) I can see the attraction of the PCP deals.
Still I can't afford a new DS or Defender...................

SarahStreet
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Location: Coventry, GB
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Re: Depreciation of your Discovery Sport

Post by SarahStreet » Wed Jan 13, 2021 10:22 pm

Just as an addition, the LR valuation tool also knows whether or not JLR as a business first registered the vehicle by the number plate entered, and will base their valuation on what the “cost” price to themselves was at first registration. Which is why some valuations are wildly inaccurate compared to other online valuations. I am talking specifically about ex-Management vehicles, not vehicles that have had employee discounts attached on invoice and registered by a retailer. For example, if you took two similar age/mileage vehicles, one registered by JLR and one by AN Other, the valuations would be very different. It’s a murky world, trade-ins, and you are far better off selling privately if you own outright, or finding somewhere to buy it that doesn’t have the sense to use the JLR tool as a guide price.

Trickett20
Posts: 37
Joined: Sat Jun 29, 2019 8:27 am

Re: Depreciation of your Discovery Sport

Post by Trickett20 » Thu Jan 14, 2021 11:33 am

I am not selling and appreciate I may not get this but i did check after reading this as I was curious.

Looks like I had a bargain from Motorpoint in June 2019.
- I paid £31000 for a December 2017(EDIT) Registered D240 HSE Dynamic Lux with the additional entertainment pack ( 10inch screen, speakers etc) It had done 5000 miles under Lex Auto Lease.

If i check WBAC . they will give me £28500 which was a shock! - much higher than expected. It is in fantastic condition so would not expect much knocked off.

If i check Autotrader for cars with same mileage as mine now , they are listed at £31,500 + without the Entertrainment pack. I also have the benefit that i took out additional warranty which can be transferred and continued!

Pretty pleased with that! Shame I do not want to sell it!

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