As a proud Range Rover owner with years of experience in diagnosing and fixing problems with these vehicles, I can’t help but feel a little perplexed when someone asks me why second hand Range Rovers are so cheap.
Second-hand Range Rovers can be relatively cheap due to high depreciation rates, potential high maintenance and repair costs, and perceived reliability concerns. These factors can deter some buyers, reducing demand and the resale price.
After all, these are luxury cars that have always been on the pricier side. But as I thought more about it and did some research, I realized that the answer is not as straightforward as one might think. So, let’s dive into some of the reasons why this might be the case.
Land Rovers have a poor reputation in the used car market
When people think about buying a used car, they want to make sure they’re getting a reliable vehicle that won’t cause them too many problems.
Unfortunately, Land Rovers don’t have a great reputation in the used car market.
They’re known for being expensive to maintain and having lots of issues with their air suspension systems, drivetrain components, and infotainment systems.
These issues can be costly to fix, which makes buyers hesitant to take the plunge and buy a used Range Rover.
Depreciation and high mileage
Another factor that contributes to the lower price of used Range Rovers is depreciation. Like any other car, Range Rovers lose significant value the moment they’re driven off the lot.
This means that when someone goes to sell their Range Rover, they might only get a fraction of what they paid for it, even if the vehicle is relatively new.
Couple this with the fact that many Range Rover owners put a lot of miles on their cars, and you have a lot of vehicles on the market with high mileage.
This can scare away potential buyers who don’t want to deal with the added maintenance costs of high mileage vehicles.
Competition in the luxury SUV market
Range Rovers are not the only luxury SUV on the market. They’re competing with other high-end vehicles like the Mercedes G-Class, BMW X7, and Porsche Cayenne, to name a few.
When people are in the market for a luxury SUV, they have a lot of options to choose from.
This competition can drive down the price of Range Rovers, especially when newer models of these vehicles are available for purchase.
Read more on the best alternatives to buying a Range Rover.
Summary
In conclusion, there are several factors that contribute to the lower price of used Range Rovers on the market.
Land Rovers have a poor reputation for reliability in the used car market, depreciation and high mileage can make these vehicles less appealing to buyers, and competition in the luxury SUV space can drive down prices.
However, despite these challenges, Range Rovers remain popular and beloved by many, myself included.
So, if you’re in the market for a used car and are considering a Range Rover, be sure to do your research and make an informed decision.