Velar vs Evoque - depreciation

[dreamweaver7]

I am currently facing a dilemma and would appreciate views - whether to buy new RR Velar or used RR Evoque.

plan would be to keep the car for the next 4 years and I drive around 6k miles each year.

I am trying to understand what depreciation would I see on both and whether the extra depreciation makes it worthwhile getting a new and a better car or not.

the Velar would cost c.£60k and a good Evoque (14/15 model) would cost c.£30k. Hypothetically, if the Velar drops to say £35k and the Evoque drops to £15k, then I would lose c.£10k on the Velar which doesn't seem that bad in comparison for the number of years...but clearly it depends on the value assumed!!

does anyone have any views on depreciation please or know where I can get them from?

[Sheepshanks]

Get a 4yr PCP quote on the Velar and see what the GFV / final payment is and that'll tell you what whoever does LandRover's finance thinks it'll be worth.

If you've got £60K to spend and are worried about depreciation then buy a Macan - although you'll have to wait for a while.

[TTmonkey]

You’ll probably lose £10k more on the Velar but it will be a newer more modern car with a warranty. If you are financing the cars then the velar is going to cost you more to buy, will be more expensive, so monthly will be higher. More expensive to run and maintain, but the evoque could come with some bug bills when it starts showing it age.

There’s a fair difference in size.... is it a family car? If so, the evoque can seem small.

[dreamweaver7]

Thanks for that! I don't know intricately how PCP works but wouldn't the PCP quote be dependent on how much deposit I provide upfront (or I guess I could do it with no deposit upfront)?

The primary purpose of the car is to have leisurely journeys and I found the Velar/Evoque more comfortable than Macan (having test driven them all).

Would the Evoque fit two car seats? have two kids under age 4..

[Sheepshanks]

dreamweaver7 said:

Thanks for that! I don't know intricately how PCP works but wouldn't the PCP quote be dependent on how much deposit I provide upfront (or I guess I could do it with no deposit upfront)?

Generally with PCPs the GFV always stays the same - it's set as high as they dare to make the deal look attractive and it also makes it less likely that you'll terminate early. So don't look at it and think you could sell the car for a few £K more - they'd have to have messed up for that to happen.

Paying a higher deposit just reduces your monthly payments.

[audidoody]

dreamweaver7 said:

Thanks for that! I don't know intricately how PCP works but wouldn't the PCP quote be dependent on how much deposit I provide upfront (or I guess I could do it with no deposit upfront)?

The primary purpose of the car is to have leisurely journeys and I found the Velar/Evoque more comfortable than Macan (having test driven them all).

Would the Evoque fit two car seats? have two kids under age 4..

The Evoque is fine for small two kids in the back. Large hatchback. Ours regularly takes two adults without complaint.

[dreamweaver7]

Many thanks, I have decided to go for the velar - yolo etc...