Defender depreciation - and are dealers still buying?

[philcray]

I have been toying with the idea of a Defender for some years and recognise that they generally hold their value well.

I wondered if anyone had any current experience of how prices are holding up with the credit crunch - there seem to be a lot of the new model XS's around with main dealers at c£20k so i am assuming the first buyer must have dropped the thick end of £10k on those.

Prices of the last model seem to be holding up on Autotrader but i wonder if they are actually selling? My target budget is c£15k and i just missed a black 06 XS with 15,000 miles which sold for c£15,500 so some are obviously still selling if priced right but looks like there are plenty of not so good ones out there asking top dollar.

Also does anyone have a feel if dealers are buying stock and, if so, if there is a prefence for the new 4 seat version or the older 6 seater? It looks to me like the new model may not be as popular - personally a 4 seater 4x4 is not as attractive as the 6 seater given the obvious practical benefits, not sure if the trade feels the same way?

Thanks

Phil

[isv]

I sold my 2004 Defender 110 TD5 county hard top a few weeks ago. I stuck it on eBay with an opening bid lower than everything else (I'd realised that not much is selling on either eBay or Autotrader at the moment). I was lucky that I got one very interested guy after it. I could see that I had very few eBay 'watchers' on the car other than this guy so when he offered to come around and close a deal before the end of the auction I grabbed his arm off.

Here's the actual depreciation history of my car: Bought for £10,150 in July 2006 (off eBay) with about 20k on the clock (2 yrs old). Sold it with 58k on the clock (4.5 years old) for £10,000.... Previously I'd called a dealer for a p-ex figure against a new 2.4 TDCi Defender - and got a quote of £8k at the time, but I reckon it would be far less now. Believe me, my Defender was 'cheap' compared to a lot of others and my buyer was very happy with the car & deal.

Mine was an exception rarity - a clean & tidy Defender with no dents..! I think that is the only reason it sold. There is a lot of Defender dross out there... Mine was a commercial vehicle with low tax... I firmly believe that the station wagons are exceptionally difficult to shift right now. Not only that but ALL Defenders look like very poor value when compared to a Disco 3 of the same age. I got £10k for a 4.5 year old vehicle (that cost £21k new) and looking at Disco values I can see that I could get a newer very well specced Disco SE/HSE for not a great deal more money. A colleague was offered £13k for his 06 Disco HSE Auto last week which he says cost him £45k new They want to change to a car with lower tax/fuel consumption but they've lost so much on the Disco they cannot afford to change...

Unless you really need a Defender I'd think about a Disco - I simply cannot see Defender values staying so high for much longer. But whatever you go for make sure you buy cheaply because they're all going to be difficult to shift in future.

[philcray]

thanks, that is very interesting and proof that the Defenders do keep their value assuming you buy at the right price! i think your points re the Discovery are also very valid, particularly as it is obviously a more practical car for most people. Probably like many people, i quite fancy a Defender but certainly do not need one and it is more for a 3rd car to potter around in. I do have a 7 seat MB ML270 so the sensible thing would probably be to try and sell that and get a Disco but, having had the ML from new (03 plate) i feel i may as well hang on as it cannot fall much more in value! On Autotrader. main dealers are selling 57 plate HSE discos for mid £20's so they are in freefall and 06's for high teens so there are bargains to be had if you want one!

My thoughts are to drop my Defender budget to nearer £10k, try and pick up a 3 year old six seat 90XS with c20k on the clock and hope somebody still wants them in 2-3 years when i come to sell. i recognise that price looks very low at the moment but i think you are right in seeing that that is the way teh market is going over the next 6 months.

[5 wh]

philcray said:

I have been toying with the idea of a Defender for some years and recognise that they generally hold their value well.

I wondered if anyone had any current experience of how prices are holding up with the credit crunch - there seem to be a lot of the new model XS's around with main dealers at c£20k so i am assuming the first buyer must have dropped the thick end of £10k on those.

Prices of the last model seem to be holding up on Autotrader but i wonder if they are actually selling? My target budget is c£15k and i just missed a black 06 XS with 15,000 miles which sold for c£15,500 so some are obviously still selling if priced right but looks like there are plenty of not so good ones out there asking top dollar.

Also does anyone have a feel if dealers are buying stock and, if so, if there is a prefence for the new 4 seat version or the older 6 seater? It looks to me like the new model may not be as popular - personally a 4 seater 4x4 is not as attractive as the 6 seater given the obvious practical benefits, not sure if the trade feels the same way?

Thanks

Phil

Thats a good point.Theres no doubt that the new model is a major leap forward in the sense that its now much easier to live with every day.Having said that though I agree that the 4 seat configuration(which was brought about by new legislation)is not as desirable for many as the 6(or in some cases 7)seat layout of older models.A few owners of older models I know will not buy the new model as they need the extra seating capability.

[Camel]

5 wh said:

A few owners of older models I know will not buy the new model as they need the extra seating capability.

Agreed, one of the reasons I'm sticking with the TD5 is that it's a lot more pleasant to jump into the back of after a walk or a mountain bike ride and sit on the sideways seats IMO. Two of you have got a lot more room in there than in the new model with those huge seats.

[superlightr]

Camel said:

5 wh said:

A few owners of older models I know will not buy the new model as they need the extra seating capability.

Agreed, one of the reasons I'm sticking with the TD5 is that it's a lot more pleasant to jump into the back of after a walk or a mountain bike ride and sit on the sideways seats IMO. Two of you have got a lot more room in there than in the new model with those huge seats.

exactly what a mate and I do after a wet and windy ride on the bikes. Cup of coffee stretch the legs and mist the windows up as you do in a defender.

[5 wh]

superlightr said:

Camel said:

5 wh said:

A few owners of older models I know will not buy the new model as they need the extra seating capability.

Agreed, one of the reasons I'm sticking with the TD5 is that it's a lot more pleasant to jump into the back of after a walk or a mountain bike ride and sit on the sideways seats IMO. Two of you have got a lot more room in there than in the new model with those huge seats.

exactly what a mate and I do after a wet and windy ride on the bikes. Cup of coffee stretch the legs and mist the windows up as you do in a defender.

Only with a female friend!

Edited by 5 wh on Monday 10th November 15:31

[bracken78]

Defenders if brought for thr right price do hold there value. I brought a TD5 CSW in January 2007 with 18.5K on the clock sold it 1 year later with 28.5K on the clock for £200 less than I paid for it.

If I was to by another one it would be a CSW with a TD5 and no bulk-head so after the 2002 face lift.


Edit to say I didn't even service it, just taxed, insured and fuelled it.

Edited by bracken78 on Monday 10th November 15:56

[will_wonka]

The Defender is the exception to the rule generally, being such a multi utility vehicle in the true(est) sense and not just some wannabe (see German variants) it has always been a good one, and in some cases, appreciation!! I sold my 300Tdi last year and made £1900 on what I paid for it......seems people will still pay a premium for the old school engines

Ok the market is a little more depressed now, but for holding onto it's money, you can't go too wrong with the Defender.