RRS SVR Residuals
Discussion
Hi!
I've always wanted a Range Rover Sport, especially an SVR. It's stretching by initial budget but I love the car, does everything for me.
I will be PCP'ing it and naturally the end value is fairly low (Circa £46,700 after two years at 10k PA). Whilst it will be worth more than this, I was just wondering how people have found resale of SVRs as I'd like to think I'll be able to pull a decent amount of equity out of it at the end should I decide to change. Running costs etc don't phase me (not allowed to with this car) but depreciation is always a consideration for me.
I'm aware that values of all black TDV6 HSE Dynamics are great but I'm not so clued up with their petrol variants, any light anyone could shed would be great.
I've always wanted a Range Rover Sport, especially an SVR. It's stretching by initial budget but I love the car, does everything for me.
I will be PCP'ing it and naturally the end value is fairly low (Circa £46,700 after two years at 10k PA). Whilst it will be worth more than this, I was just wondering how people have found resale of SVRs as I'd like to think I'll be able to pull a decent amount of equity out of it at the end should I decide to change. Running costs etc don't phase me (not allowed to with this car) but depreciation is always a consideration for me.
I'm aware that values of all black TDV6 HSE Dynamics are great but I'm not so clued up with their petrol variants, any light anyone could shed would be great.
Tricky one this.
You have the petrol vs diesel factor. More of a biggie in town than elsewhere in the country for sure but certainly having an effect on values at the moment.
They are also quite rare - especially 2018MY and very little discount was offered on the majority sold.
I personally think that they will hold up quite well for a while anyway. In saying that I agree with you in that I would still use a PCP scheme to ensure that I knew what the worst case scenario could be, then just hope that I had some equity in it towards the end of the agreement.
My 2p worth FWIW
You have the petrol vs diesel factor. More of a biggie in town than elsewhere in the country for sure but certainly having an effect on values at the moment.
They are also quite rare - especially 2018MY and very little discount was offered on the majority sold.
I personally think that they will hold up quite well for a while anyway. In saying that I agree with you in that I would still use a PCP scheme to ensure that I knew what the worst case scenario could be, then just hope that I had some equity in it towards the end of the agreement.
My 2p worth FWIW
New / 2018MY or pre-‘17MY used?
New is a 5 month wait....
Used were short on stock, but now there are a lot available. As a very niche model, there is plenty of choice now for a perspective buyer and they are pretty much all the same aside the colour. As always trying to shift a +£50k car privately is gonna be hard. Part-ex, expect to be hosed down.
Buy it ‘cause you want it. PCP will give you a stop-loss, anything more will be a bonus.
New is a 5 month wait....
Used were short on stock, but now there are a lot available. As a very niche model, there is plenty of choice now for a perspective buyer and they are pretty much all the same aside the colour. As always trying to shift a +£50k car privately is gonna be hard. Part-ex, expect to be hosed down.
Buy it ‘cause you want it. PCP will give you a stop-loss, anything more will be a bonus.
Triple7 said:
Buy it ‘cause you want it. PCP will give you a stop-loss, anything more will be a bonus.
^ This.New price starts at £101k list, and £46k balloon on a 2yr/10k-yr PCP means the best guess from the people who have a substantial investment in the deal is that it'll lose £55k+ of that after 24 months and 20k miles... That's £2.75/mile in depreciation alone, or £76/day. Plus interest on the entire amount.
That's a heart-not-head purchase, if ever I saw one.
Forgive me, I should probably state it's on a 16 plate with roughly 16,000 miles at £76,000, so it's taken the initial depreciation hit which I wouldn't want to stomach.
Thanks for the help up until now, I understand the heart over head element but this will be just about the most expensive car I've 'bought' but my mind is always looking at the long play.
Thanks for the help up until now, I understand the heart over head element but this will be just about the most expensive car I've 'bought' but my mind is always looking at the long play.
tgclowes said:
Forgive me, I should probably state it's on a 16 plate with roughly 16,000 miles at £76,000, so it's taken the initial depreciation hit which I wouldn't want to stomach.
OK, so just £30k to go over the next two years, 20k miles... £1,250/mo, £1.50/mile... The first owner's already taken £20-25k over 2yrs/16k miles.And let's not forget that it's at used-car-PCP rates of interest. Go on - what's the APR, what's the up-front, and what's the monthlies?
Ok so here goes.
Cash Price: £76,700
Deposit: £20,000
Monthly: £660
Mileage: 10k pa
Final Payment: £48,522.13
Interest: 6.9%
Term: 2 years.
Deposit is hefty, but I've done several cars on PCP and had decent equity in the end, over 50% of my deposit every time and they weren't particularly good in terms of residuals. Obviously this is all mileage and condition dependant but I keep my cars in good nick.
I think it's the large deposit that I'm concerned about more than anything. I previously put £5,000 into a deposit and came out with £3,000 in the end which I was happy, but £12,000 out of £20,000 could sting a lil? (assuming similar equity returns).
I'm very open to criticism with those numbers I should think but if the car came in after two years at £48k or even £55k I'd be fairly upset. The next question is why not just buy the car cash but I bought my AMV8 that way and I regretted having cash like that sat in a car. Different strokes perhaps?
Cash Price: £76,700
Deposit: £20,000
Monthly: £660
Mileage: 10k pa
Final Payment: £48,522.13
Interest: 6.9%
Term: 2 years.
Deposit is hefty, but I've done several cars on PCP and had decent equity in the end, over 50% of my deposit every time and they weren't particularly good in terms of residuals. Obviously this is all mileage and condition dependant but I keep my cars in good nick.
I think it's the large deposit that I'm concerned about more than anything. I previously put £5,000 into a deposit and came out with £3,000 in the end which I was happy, but £12,000 out of £20,000 could sting a lil? (assuming similar equity returns).
I'm very open to criticism with those numbers I should think but if the car came in after two years at £48k or even £55k I'd be fairly upset. The next question is why not just buy the car cash but I bought my AMV8 that way and I regretted having cash like that sat in a car. Different strokes perhaps?
tgclowes said:
Ok so here goes.
Cash Price: £76,700
Deposit: £20,000
Monthly: £660
Mileage: 10k pa
Final Payment: £48,522.13
Interest: 6.9%
Term: 2 years.
Deposit is hefty, but I've done several cars on PCP and had decent equity in the end, over 50% of my deposit every time and they weren't particularly good in terms of residuals. Obviously this is all mileage and condition dependant but I keep my cars in good nick.
I think it's the large deposit that I'm concerned about more than anything. I previously put £5,000 into a deposit and came out with £3,000 in the end which I was happy, but £12,000 out of £20,000 could sting a lil? (assuming similar equity returns).
I'm very open to criticism with those numbers I should think but if the car came in after two years at £48k or even £55k I'd be fairly upset. The next question is why not just buy the car cash but I bought my AMV8 that way and I regretted having cash like that sat in a car. Different strokes perhaps?
At a guess I'd say you would end up loosing all your deposit on that deal, I bought new in May 17, wasn't a great car and got fed up of it being back at the dealers more than I was using it, so sold in October for £10k loss, and that was through a friend who returned me retail money, you don't want to know the trade bids !Cash Price: £76,700
Deposit: £20,000
Monthly: £660
Mileage: 10k pa
Final Payment: £48,522.13
Interest: 6.9%
Term: 2 years.
Deposit is hefty, but I've done several cars on PCP and had decent equity in the end, over 50% of my deposit every time and they weren't particularly good in terms of residuals. Obviously this is all mileage and condition dependant but I keep my cars in good nick.
I think it's the large deposit that I'm concerned about more than anything. I previously put £5,000 into a deposit and came out with £3,000 in the end which I was happy, but £12,000 out of £20,000 could sting a lil? (assuming similar equity returns).
I'm very open to criticism with those numbers I should think but if the car came in after two years at £48k or even £55k I'd be fairly upset. The next question is why not just buy the car cash but I bought my AMV8 that way and I regretted having cash like that sat in a car. Different strokes perhaps?
tgclowes said:
Cash Price: £76,700
Deposit: £20,000
Monthly: £660
Mileage: 10k pa
Final Payment: £48,522.13
Interest: 6.9%
Term: 2 years.
So you're actually borrowing £56,700 - and paying 6.9% interest on all of that. Which is why damn near half of your monthlies (£7,660ish) is just interest - you're repaying just under £8,200 of the borrowed money over the 24 months.Deposit: £20,000
Monthly: £660
Mileage: 10k pa
Final Payment: £48,522.13
Interest: 6.9%
Term: 2 years.
tgclowes said:
I think it's the large deposit that I'm concerned about more than anything.
The bigger the deposit, the lower the total amount of interest you pay...If the deposit was £10k, and all the other numbers the same, then the monthlies would be nearly £1,100 and you'd be paying just over £8k in interest over the two years.
If it was £5k, your monthlies would be just over £1,300, and you'd be paying £8,400 in interest.
The deposit amount is simply how much of the difference between the current price and the balloon you repay up front versus through the monthlies. You're still paying the £28,200 difference between £76,700 and £48,522.13 over the two years, plus interest on the entire outstanding balance.
I didn't in the end, promotion at work entails a bit more mileage and I figured it would be better value for me to go for a TDV6. Boring yes, but a 5.0 V8 for primarily motorway mileage seemed a waste so I'll be putting the money saved towards something else.
I think there's a lot to be said for that 'do everything' car but for me this wasn't it.
I think there's a lot to be said for that 'do everything' car but for me this wasn't it.
tgclowes said:
I didn't in the end, promotion at work entails a bit more mileage and I figured it would be better value for me to go for a TDV6. Boring yes, but a 5.0 V8 for primarily motorway mileage seemed a waste so I'll be putting the money saved towards something else.
I think there's a lot to be said for that 'do everything' car but for me this wasn't it.
Not at all - 3.0TDV6 is a brilliant choice. I have the same, and prefer it to the SVR i tested...I think there's a lot to be said for that 'do everything' car but for me this wasn't it.
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