About to buy a 2020 SVR

[sawyer03]

Hi,

So as the title says I’m about to buy a very low mileage 2020 SVR in immaculate condition. Am
I mad?

I’ve never owned a JLR product having always driven German brands. They really are incredible value now and insurance where I live although high isn’t ridiculous. Any advice would be much appreciated

Thanks

[CSK1]

I’ve owned a SVR from new for about two years.
Great car, very capable, extremely comfortable, not too bad on fuel at cruising speed.
Part-exchanged it for an Aston DBX707 which is in another league altogether but loved the ownership experience with my SVR.
A very good friend of mine still runs his he bought at the same time and still runs it daily. No complaints.
The 5L Supercharged V8 is a peach of an engine and very reliable (I owned three Range Rovers with this engine and never had any trouble).
Go for it, you will have no regrets.
I actually prefer the old shape over the new one.

[megenzo]

I've not owned an SVR but a V8 L405 and it's been utterly brilliant for my journey profile. It's an easy joke to have a pop at JLR products reliability but they are superb machines. Do it and post pictures!

[sawyer03]

Thank you so much for the reply guys. Really appreciate it. I can’t quite believe the deal I’ve been quoted after paying the negative equity on my car. It works out to £2000 deposit £700 a month for a 2020 car with 13,000 miles on the clock Including a Land Rover warranty

[megenzo]

that does sound like a good deal. I'll be looking to get into a last model L405 towards the end of the year, sadly not an SVR just yet but if those kind of deals are around I'll be a very happy boy.

[SL550M]

Nice to hear these positive reviews. I’m contemplating a Range Rover Sport from around 2019-2020 and not sure which engine to go for. I don’t do mega mileage and I’m not on the motorway for long journeys very often. The appeal of the petrol V8 is strong, as I’ve heard reliability is better than the diesels. I’m also seeing good reports about the PHEV 400. Like the OP, I’m pleasantly surprised by what you can get for your money. Insurance shouldn’t be an issue either, as I’ll be living in a very low risk area out in the countryside.

[W12GT]

sawyer03 said:

Thank you so much for the reply guys. Really appreciate it. I can’t quite believe the deal I’ve been quoted after paying the negative equity on my car. It works out to £2000 deposit £700 a month for a 2020 car with 13,000 miles on the clock Including a Land Rover warranty

Would love to know how you’ve got to those figures given the current stock on LR - nothing comes even close to that on mileage and monthlies. If you’ve genuinely got that then don’t hesitate. However do be prepared to buy additional security as you are going to need it if you want it to be where you’ve left it!

Edited by W12GT on Saturday 20th April 22:30

[interstellar]

Me too, that seems a great deal.

[sawyer03]

Somehow after 48 months and 16000 miles a year the GFV or balloon which ever you prefer is £73410. I have queried this but have also been assured its correct.

[interstellar]

sawyer03 said:

Somehow after 48 months and 16000 miles a year the GFV or balloon which ever you prefer is £73410. I have queried this but have also been assured its correct.

73k RV?

How much are you paying for the car? You are making 34k in payments.

Surely it’s not over 100k. These cars are far less than that.

Heres a 2020 car done 13k for 60 grand.
https://www.autotrader.co.uk/car-details/202310213...

What am I missing OP?

[sawyer03]

Pretty much what the GFV which I can’t work out but as said I have questioned it.

[interstellar]

And the rv is set on the car being 4 years older and done 64k more miles?

Something sounds very wrong there

Drive it and give it back I guess , how strange.

[W12GT]

How much is the cash purchase price?

THE most expensive one on LR is under 69k. There is a 71plate with 16k on it and that’s 68k.

There is absolutely no way the car you mention exists at the price point you are talking about and something is wrong - it will be 8years old with over 75k on the clock and cannot possibly have a residual of 73k - it’s nonsense. Initially I thought that car’s residual will be nearer £23k; this is pretty close to what that car would look like in 4years time (8years old), note a dealer would be under that price.)

In fact the WBAC price is £15170 and that has less miles than your car would have - oh and it will be almost another generation older by that time. Therefore based on the current trend that dealers often take cars in at prices just below or just above the WBAC price then I think the residual is probably £15k based on what we see today.

[sawyer03]

Yes that is correct. Usually, I never keep cars for that period of time but for that amount even if it doesn’t get used every day it’s a lot of car for not a ridiculous amount of money.

[interstellar]

Can you share in a pm who is funding it? I might try and buy one once you have done your deal.

They have got their RV wrong

[W12GT]

sawyer03 said:

Yes that is correct. Usually, I never keep cars for that period of time but for that amount even if it doesn’t get used every day it’s a lot of car for not a ridiculous amount of money.

So this makes even less sense- because to get the residual you mentioned, you’d have to keep it for the full 4years otherwise you’ll get what the market pays and that will result in massive negative equity for you.

Post up the numbers you’ve been given - it may be obvious error.

[DSLiverpool]

Are the 5.0 timing chains no longer an issue? I know it’s thousands to get done.

[sawyer03]

[sawyer03]

I appreciate the purchase price is high but in this instance it becomes irrelevant as it’s all about what the monthly figure is.

[12TS]

Wow!