Turn in or sell?

[horatio8]

Just saw Count Laszlo's post and I guess my $1,000 for dealer prep might be low - but I still think you can clear in the 40s. There's also a chance that the dealer might work thinner than 3,000 if he's got the other side of your trade.

 

[Count Laszlo]

Just saw Count Laszlo's post and I guess my $1,000 for dealer prep might be low - but I still think you can clear in the 40s. There's also a chance that the dealer might work thinner than 3,000 if he's got the other side of your trade.

I am pretty sure the dealer also has to pay for the CPO as well. I don't know exactly how much LR's CPO fees are, but I think at BMW they were between $1K and $2K when I was loyal to that brand. I usually use $3K as a range. All the numbers I used are hypothetical or approx. but hopefully helpful as a foundation. or guide for approach. Dealer also has to pay interests on the pay-off, so if it sits for a month, and rolls into the next, they pay interest on that original pay-off amount. That's why it is also wise to buy last business day of the month, because the dealership will not want to pay interest on a vehicle that's going to roll over into the next month, hense, if you can work with the sale-person on identifying one of the vehicles that will roll over, you can usually get a better deal on it. Anyway, the costs do add up. But don't get me wrong, dealers make plenty of profit and there's more room to deal than one would realize.

 

[horatio8]

I am pretty sure the dealer also has to pay for the CPO as well. I don't know exactly how much LR's CPO fees are, but I think at BMW they were between $1K and $2K when I was loyal to that brand. I usually use $3K as a range. All the numbers I used are hypothetical or approx. but hopefully helpful as a foundation. or guide for approach. Dealer also has to pay interests on the pay-off, so if it sits for a month, and rolls into the next, they pay interest on that original pay-off amount. So it adds up. But don't get me wrong, dealers make plenty of profit and there's more room to deal than one would realize.

Count - you make two good points. Finlay, please let us know how you do, as it will help me evaluate my trade. I'm going to trade in my 2010 HSE LUX with 39,000 miles when my 2013 arrives (June 1st or earlier). I'm hoping for mid-high 30s, but that might be too optimistic. I am confident, however, that the actual residual value on my 2010 will exceed what was quoted on leases then and now. Who said Land Rovers depreciate quickly?

 

[Count Laszlo]

Count - you make two good points. Finlay, please let us know how you do, as it will help me evaluate my trade. I'm going to trade in my 2010 HSE LUX with 39,000 miles when my 2013 arrives (June 1st or earlier). I'm hoping for mid-high 30s, but that might be too optimistic. I am confident, however, that the actual residual value on my 2010 will exceed what was quoted on leases then and now. Who said Land Rovers depreciate quickly?

Funny thing, Discovery models really hold their resale value. The RR and RRS sink like rocks. Maybe it's because there are so many around/or because they are expensive premium models and those tend to depreciate the most. I do love the fact that LR4s (even the old Disco IIs) hold good resale value.

I'm going to be trading in my '10 LR4 non-Lux and I'm hoping to get about $37 or so. I saw my exact truck for sale at Redwood City Land Rover (Izmir Blue and all) with only 15,000 miles, mint like-new, for $42K. I was a little disappointed... but want that thing to sell ASAP so it'll help me get a little more. Trying to negotiate with that thing on the market for that price will hurt me.

 

[jbrincks]

Another thing to think about is if you trade it in, you only have to pay sales tax on the difference between the new vehicle and the trade in. If you sell your current LR4 privately then you will have to pay sales tax on the entire new purchase.

 

[horatio8]

Funny thing, Discovery models really hold their resale value. The RR and RRS sink like rocks. Maybe it's because there are so many around/or because they are expensive premium models and those tend to depreciate the most. I do love the fact that LR4s (even the hold Disco IIs) hold good resale value.

I'm going to be trading in my '10 LR4 non-Lux and I'm hoping to get about $37 or so. I saw my exact truck for sale at Redwood City Land Rover (Izmir Blue and all) with only 15,000 miles, mint like-new, for $42K. I was a little disappointed... but want that thing to sell ASAP so it'll help me get a little more. Trying to negotiate with that thing on the market for that price will hurt me.

I think one reason the depreciation is so crazy low on the LR4 is that it's reasonably priced vs. the competition. I came from an Acura MDX which is now $52,000 fully loaded, and I think it's not in the same league as the LR4. The great LR4 resale value takes a big bite out of the relatively high cost of ownership (brakes and tires mainly). I'm also helped by being in the Northeast where SUVs are popular for the winter weather.

I can't believe that 2010 with only 15,000 miles is not selling quickly for $42,000. Maybe if it were black, white, or silver it would trade quickly? I like Izmir, but it's not as popular as other colors.

 

[Count Laszlo]

I think one reason the depreciation is so crazy low on the LR4 is that it's reasonably priced vs. the competition. I came from an Acura MDX which is now $52,000 fully loaded, and I think it's not in the same league as the LR4. The great LR4 resale value takes a big bite out of the relatively high cost of ownership (brakes and tires mainly). I'm also helped by being in the Northeast where SUVs are popular for the winter weather.

I can't believe that 2010 with only 15,000 miles is not selling quickly for $42,000. Maybe if it were black, white, or silver it would trade quickly? I like Izmir, but it's not as popular as other colors.

I just checked their web site and it's gone... sold. Who ever got it, got a great deal! IMO... Yay.

Now I can bump up my benchmark a little.

 

[uhur]

Contrary to many people's ideas, LR4 indeed holds its value well: my 2011 LR4 LUX in silver with 15k miles will have fetched $45,5k in real trade in value. Bought 2 years ago for $57k

On the other hand, there's a 2012 full size RR SC with normal mileage a dealer nearby advertises for $70k

 

[Count Laszlo]

I just saw a 2011 RR HSE with 21, 000 miles, assume CPO, for $59k.

http://www.landroversj.com/2011-Land-Rover-Range-Rover-HSE-San-Jose-CA/vd/12640238

 

[Finlayforprez]

Thanks for all this discussion everyone - very helpful!

Hey Count,

The problem with removing everything is that the body molding was removed to install the front skid plate and rock sliders/steps. Once you remove the body molding, it is tough to get it back on because most of the clips break. As far as the front and rear lamp guards, those I painted matte black (they came out great) and I want to start fresh with new sets (at least the back for now).

I could remove the half rack and ladder, but I am opting to leave them on because Eric (at LR of SJ) and I discussed turning in my LR4 when my new 2013 arrives in June. I think turning it in will be my best bet, as Eric and I discussed that they would take in my lease early (it is officially done in February 2014) and try to get me the best trade-in value. I actually think I am in a great position because my current lease pay-off is around $35,000 - that's at least $10,000 LESS than what I could sell it for private party and maybe even trade-in value. I plan to definitely discuss getting a deal or some money toward my new LR4. He thinks my truck would sell very quickly, so they are very interested in buying out the lease.

He also agreed to evaluate whether or not the techs could remove my front skid plate and rock slider/steps and put them on the new LR4. If they can do that, then they can put the new LR4's body molding on my outgoing LR4. I also asked that they switch out the new tires with my current LTZs - so that's not only my accessories on the truck (some of them at least) and new tires - thus, I am really going to try to negotiate for them to give me a bit more money above and beyond the lease pay off.

I would sell it outright, but to be honest, I don't think I want to deal with it. I'd rather try to get the dealership to take it in (which they will do) and give me a deal. So far I have a maximum price set for my new LR4 with room to go even lower.

Since the new LR4 isn't coming until mid-June, my lease payoff will likely be down to about $33,000 by that time. I also have some time to figure things out.

-David