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- Jan 9, 2006
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Here is Umberto's new ride...
Thought I shared this with you guys here.
Couple of weeks ago I visited my dealership for scheduled maintenance. As I was checking out the new Defenders on the floor, a sales guide approaches, we chat a bit, and it comes up that I currently own an LR4.
"Hmm...", he says with interest. "They are quite in demand and whenever we get one in for sale, it usually is gone within four or five days."
"In fact.." he continues, "...LR4s are forcing us to price the D5 higher because we cannot sell a D5 cheaper than an LR4."
But here is the kicker
Last week as I go back to pick up my truck, I am pleasantly surprised to see the car all detailed out. The thing looked practically brand new and better than when I had originally picked it up for the first time.
As I am getting ready to get behind the wheel, a well-mannered man in grey jacket asks a question as he passes by:
"Are you interested in selling your LR4?"
Me smiling: Thanks, but I am not interested.
Curious man: It looks new, just get it?"
Me: No I've had it for a while, but did buy it new in '16.
Curious man: I am the sales manager here, I am willing to pay you the same amount that you paid for it.
Me: Could you please repeat that again?
Curious man: Sure, I am willing to pay you the same amount that you paid when you purchased it.
Me: Thank you, but I intend to keep it. Why are they holding their value so well, what about it?
Curious man: Customers just love the design. They are not even aware of the technical aspects of things.
Me: They like the design more than the new Defender?
Curious man: Yes. Here is my card if you decide otherwise.
May have felt a little bit like that famous scene from the movie Indecent Proposal when the billionaire Robert Redford approaches ***** Harrelson and Demi Moore with the proposal, ha.
He further went on to say that he usually has ten to fifteen leads already lined up before an LR4 comes in for sale, and that the customers are always asking for it whether he has got one in yet.
Also he said that if one comes in, it usually is sold within two days.
Thought some of you here might find the above interesting
And just a disclaimer here, I know I have been quite critical, but certainly dont wanna come across as shooting down the new Defender as that car certainly has a presence when seen in person and holds its own. So anyone here toying with the idea of exploring the possibility of owning one should really not go by the pictures alone but should go out and see that thing in person in real life first before forming their opinion.
Like some of you here, I too was invited to that private event here in LA last year and had a chance to meet and chat a little with both Gerry McGovern and the NA CEO. Been meaning to share the conversation and my own personal take on things and thoughts on the new Defender but one thing after another
It's making me think these trucks are reverse pyramid schemes.
First buyer: $70K + $7K tax + $10K maintenance, then sells it for $40K (net loss $43K)
Second buyer: Buys it for $40K + $4K tax + $10K maintenance, sells it for $20K (net loss $34K)
Third buyer: Buys it for $20K + $2K tax + $10K maintenance, keeps it forever because all the stuff is fixed!
I'm surprised that any dealer would pay cash (not just trade in at) for the full original purchase price. All the 2016s near me in the SF Bay area (NorCal) are between $37K-$43K but I'm sure they were more like $70K new.
You sure you're not going to do it? Sounds like a heck of a deal.
I was actually the 2nd buyer but at the $20K price point (2013 with 75,000 miles) and feel like I got a great deal!!
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