+- babyRR.com - The Range Rover Evoque Forum (https://babyrr.com/forum)
+-- Forum: Range Rover Evoque Discussions (/Forum-Range-Rover-Evoque-Discussions)
+--- Forum: General (/Forum-General)
+--- Thread: And so the serious depreciation begins? (/Thread-And-so-the-serious-depreciation-begins)
And so the serious depreciation begins? - ED209 - 02-02-2013 09:53am
Noticed drivethedeal now have some evoques discounted by approx 5%. Is this the start of the evoque loosing money quickly?
RE: And so the serious depreciation begins? - J77 - 02-02-2013 10:58am
No, it's inevitable that discounts will come, and that the Evoque will depreciate.
RE: And so the serious depreciation begins? - sco77harris - 02-02-2013 12:12pm
pretty marginal discounting compared to other cars, also ordering the equivalent of my car would cost 5% more now than the time of my purchase.
RE: And so the serious depreciation begins? - Evo-king - 02-02-2013 06:28pm
I'm no real expert on this, but as they say all good things come to an end.
The Evoque is still a highly desired car, but either production has caught up with demand or interest is waning.
Order to delivery times in many threads posted are now saying 12 weeks.
Somewhere along the line this will have an impact.
I guess when the Evoque is 24 and 36 months old some owners may refresh their ownership as well so demand might go up then.
RE: And so the serious depreciation begins? - Straydox - 02-02-2013 07:00pm
The Evoque residual value projections do seem to have taken a bit of a hit compared with 14 months ago when I ordered mine. Now my rattle infested vehicle (7 or 8 weeks in the dealership and not sorted - rejected and LR are sending it to auction for disposal) is being collected on Monday I've been looking at a replacement to either lease or PCP.
Sadly the prices quoted now are seriously silly - comparing an auto Audi Q5 3.0TDI SLine Plus with an auto SD4 Prestige at similar spec levels for 20,000 miles a year the Audi is coming in at a bit over£200 less a month - even though the capital cost is about the same. It's frustrating because I'd love another Evoque - minus the rattles. The Q5 drives well, is quite a bit quicker/more economical on fuel, is better made and equipped but lacks the proven off-road capability and gorgeous looks of the Evoque.
Landrover seemed to have jacked the prices up, no doubt inspired by sell-out demand and that effects the residuals because they are not such good value now compared with the opposition.
(02-02-2013 07:00pm)Straydox Wrote: The Evoque residual value projections do seem to have taken a bit of a hit compared with 14 months ago when I ordered mine. Now my rattle infested vehicle (7 or 8 weeks in the dealership and not sorted - rejected and LR are sending it to auction for disposal) is being collected on Monday I've been looking at a replacement to either lease or PCP.
Sadly the prices quoted now are seriously silly - comparing an auto Audi Q5 3.0TDI SLine Plus with an auto SD4 Prestige at similar spec levels for 20,000 miles a year the Audi is coming in at a bit over£200 less a month - even though the capital cost is about the same. It's frustrating because I'd love another Evoque - minus the rattles. The Q5 drives well, is quite a bit quicker/more economical on fuel, is better made and equipped but lacks the proven off-road capability and gorgeous looks of the Evoque.
Landrover seemed to have jacked the prices up, no doubt inspired by sell-out demand and I wonder if that has effected the residuals because they are not such good value now compared with the opposition - or has the novelty just worn off?
RE: And so the serious depreciation begins? - Evo-king - 02-02-2013 07:33pm
I think you need to be a banker or an accountant to understand that logic, £200 less PM is serious dosh, LR are going to lose buyers if that trend continues.
Not my problem though.
Oddly enough I've just been reading an article in The Mail motoring column which gives the Evoque 2.2 TD4 Pure "The best value new car/used car in the 4x4 category"
RE: And so the serious depreciation begins? - THEMACS - 02-02-2013 08:13pm
That soundslike a huge difference £200 per month, that must mean that the Eoque residuals are expecting to take an absolute kicking, I'm a little surprised that a car that has been out quite a bit longer is better on that front, OR te Q5 is massively discounted!
Ours seems to have developed a slight rattle now too
hopefully will get sorted soon, the only thing I'm disappointed with really is the crrappy performance it really needs a lot more powerI saw a gorgeous dark blue new freelander today, made me think about changing but couldn't stand the huge kick in the balls on the deprecation!
RE: And so the serious depreciation begins? - IKM - 02-02-2013 09:50pm
Why the surprise? As supply almost reaches demand (which was inevitable), the Evoque is going to depreciate as quickly as any other LR model (which has never been as favourable as Audi etc, with the exception of maybe the Q7).
RE: And so the serious depreciation begins? - J77 - 02-02-2013 11:57pm
The problem now is LR have done away with the TD4, mine cost £28,705 before options. Now to get the same Evoque with one extra tail pipe and apparently more power it's almost £31,000 before options. A well equipped Fl2 XS TD4 £32,500.
I don't care about depreciation, it's a fact of life no matter what car you buy. What bothers me is, does the equipment levels match the price increase? And at the moment the Evoque looks a bit bare for the money in entry level.
I will hold on to my Evoque until the Fl3 arrives in 2015 and see what it has to offer.
RE: And so the serious depreciation begins? - Toffeeman - 04-02-2013 09:55am
There are so many factors built into leasing prices and whilst depreciation is a major factor, brands such as Audi (and Mercedes are now) throw large sums of money at the leasing market by offering huge discounts either to Brokers or the Dealerships themselves. LR are selling so many that they have no need to discount to this market neither and they'll never take a large market share away from the upmarket fleet section of A4, C-Class or 3 Series.
A few years back, we compared an Audi A4 with a Vauxhall Insignia; I can't remember the exact difference in list price but it was a highish spec Insignia. The Audi had a higher list price by about £5k but was £100/month cheaper than the Insignia.
Incidentally, today, we're (I order the fleet cars at work) taking delivery of a Q5 S-Line Plus as mentioned in the first post but just the 2.0 Diesel and the leasing price is comparable (ok, slightly higher) than a Pure with no options on.
You also have to remember that options are a nightmare when you lease a car. If an option is say £1,000, the leasing company, generally just divide this by the number of repayments effectively saying that it has a nil value when the car is returned - this probably doesn't help Evoques which are often heavily specced up with Options!
As for your subject title, yes, I think you're right, depreciation will kick in shortly and Dealership discounts will probably start within the next quarter once we've got March registrations out of the way and once sales start to fall with the "13 reg". I've spoken to a few dealers over the last couple of weeks and customers are beating their doors down to pick up a 62 reg car in February!