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oop north

Member Since: 23 Mar 2016
Location: Preston-ish
Posts: 59

Prices dropping again?

Full disclosure - although I have been lurking here for an age, I don’t have a Defender. Got quite close 6 months ago but bought a bmw iX through my company instead (if there was a fully electric Land Rover available I would probably be driving one). Used prices were stupid six months ago with used cars seemingly £10k above list…

And yet autotrader keeps luring me in for a goggle at Defenders. Was struck yesterday by quite a few seeing to be for sale at prices well below the market average according to autotrader. Found a 110 hse x dynamic for less than £60k with autotrader saying the market average is £10k more than the price. Found several others ranging from £3k to £7k under market average. It looked like there might be a dip on its way? Or am I imagining it?

12th Sep 2023 8:49am

jim4244

Member Since: 13 Apr 2014
Location: Bedfordshire
Posts: 773

2007 Defender 90 Puma 2.4 CSW Zermatt Silver

The government won’t admit it but we are in a recession.

People who didn’t fix their mortgages when they had the chance have seen their repayments jump hugely and house prices are also on their way down.

The used car market was obscenely inflated but is now making a re adjustment to pre covid levels. If you hang on until early next year then there wil be some real bargains out there.

It’s sad but many people have short memories and thought that the days of free money would last forever….

Jim

12th Sep 2023 10:06am

pjm-84

Member Since: 12 Apr 2021
Location: Hampshire
Posts: 661

In a recession to kill off inflation!

Haven't bother fixing my mortgage but luckily its quite low but still it is circa £930 where before it was around £180.

12th Sep 2023 11:43am

jim4244

Member Since: 13 Apr 2014
Location: Bedfordshire
Posts: 773

Blimey PJM.. That's some jump in monthly payment!

Jim

12th Sep 2023 12:09pm

lightning

Member Since: 23 Apr 2009
Location: High Peak, Derbyshire
Posts: 2731

Used prices are definitely falling as production catches up with demand, also vehicles are starting to come out of lease and PCP agreements so there are more used ones around.

The exception is the Commercial version where used ones can command list price or over, because there's still over 12 months wait for a new one.

12th Sep 2023 12:13pm

pjm-84

Member Since: 12 Apr 2021
Location: Hampshire
Posts: 661

jim4244 wrote:
Blimey PJM.. That's some jump in monthly payment!

Jim

0.82 above base rate. Been on that mortgage since 2008. So gone from paying 1.07% to 6.07%. Luckily we have disposable and no kids to think about.

12th Sep 2023 1:54pm

ginjez

Member Since: 18 Sep 2011
Location: huddersfield
Posts: 1760

2011 Defender 90 Puma 2.4 ST Santorini Black

lightning wrote:
Used prices are definitely falling as production catches up with demand, also vehicles are starting to come out of lease and PCP agreements so there are more used ones around.

The exception is the Commercial version where used ones can command list price or over, because there's still over 12 months wait for a new one.

Not so in my case, I sold my 110 commercial to main dealer while it was still worth more than what I paid but they still have it for sale. I've ordered my replacement and was told of the 12 - 15 month wait but have since got a build date of December, ordered it in June.

12th Sep 2023 3:10pm

lightning

Member Since: 23 Apr 2009
Location: High Peak, Derbyshire
Posts: 2731

Well that's a good thing if you are ordering a new one. And great that you got over list for your old one. Looks like you were lucky to get the best of both worlds.

My local LR dealer won't even take Commercial orders, due to the "massive backlog" and Land Rover "prioritising the saloon versions"

12th Sep 2023 7:43pm

ginjez

Member Since: 18 Sep 2011
Location: huddersfield
Posts: 1760

Speak to Gavin at LR Canterbury

13th Sep 2023 8:32pm

lightning

Member Since: 23 Apr 2009
Location: High Peak, Derbyshire
Posts: 2731

l don't need one, l've got my 2022.
l was just recounting what my local dealer said. Currently Motorway is offering around list price for mine, and WBAC is a few thousand lower.

So a definite softening of values. The high prices couldn't last for ever. Only our 2020 Jimny has remained over list price, but that's because you can't get them any more.

13th Sep 2023 8:49pm

pjm-84

Member Since: 12 Apr 2021
Location: Hampshire
Posts: 661

Motorway prices are an estimate. Offered £21500 for our CHR. Highest came in at £19200 when the Auction was held.

Carwow was at £20100 but as I had an offer from BMW as a PEX at 20k I stayed with BMW. When I declined, they upped it £20500 but at that stage I couldnt be asked. I had a great discount on the BMW and knew they would resell so was happy that they took profit. Plus they were a little pushy

13th Sep 2023 9:37pm

Moo

Member Since: 01 Oct 2021
Location: UK
Posts: 1352

My Oct 2022 MY23 D250 SE with extras and 17k on the clock was valued by WBAC at £50,200 (£76k purchase price). Just curiosity, but it seems prices have really dropped....

Eiger Grey MY23 D250 SE with bits. Known as Noddy.

13th Sep 2023 10:13pm

J77

Member Since: 04 Nov 2019
Location: Fife
Posts: 3388

Yup the bubble’s burst. 24MY 90 D250 HSE, Tasman Blue

15th Sep 2023 5:48am

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