1998 P38 4.0 SE, what's it worth???

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rangie1998

rangie1998

Active Member
Posts
279
Location
Leeds
Hi Guys,

My dad is wanting to sell his P38 4.0 SE and I'm very tempted to buy it, hopefully for a good discount!!

It's a 1998 4.0 SE in Epsom green, 55,000 miles, full land rover service history, just 2 previous owners. It's in great condition, my dad has had it for 7 years and it's been reliable (apart from a new ECU!) but my dad wants something more economical.

I'd have to part with my beloved 1989 BMW 535i SE (only done 46K!!!) as can't afford both.

I'm thinking it's worth between 3,000 and 3,500, does this sound about right??

Thanks

Mike
 
I thought mine was low miles at 71,000 but 55,000 is VERY low. On that basis and the fact it's a completely known quantity, I'd say go for it at that sort of price. The only thing that would put me off is if it was a manual. Most people want autos with the V8. Also the (comparative) lack of add-ons you would get with a HSE or Vogue. But that mileage and known quantity probably outweigh that.
 
Hi,

Thanks for your response, it's an auto. Has electric sunroof too! I am very tempted but I hear so many scare stories about them!!

What experience have you had with yours?

Mike
 
rangie1998 said:
Hi,

Thanks for your response, it's an auto. Has electric sunroof too! I am very tempted but I hear so many scare stories about them!!

What experience have you had with yours?

Mike
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The fact ya dads had it fer 7 years shud be piece of mind (ish) least you know the history of it
 
All Rangies will cost you money at some stage. I'm fortunate in that I don't have to use mine every day for work so it keeps the mileage down. It still costs though. In the last two years it's had 4 new air bags, new fuel pump/sender unit, brake pipes, aircon condenser, suspension ECU (Ebay) (Faultmate wouldn't read it) plus numerous other bits and bats for servicing. Still wouldn't swap it for owt though. Fantastic drive.
Up to you but it sounds a good deal.
 
I don't quite agree with everyone saying "go for it, its a known quantity". Well yes and no.

Its good to have the history but it also a fact that around 60K is when a lot of things start to go wrong and it takes another 10 - 15k to get it all sorted - PROVIDED you've an owner who can be bothered to do it right. If you're such a person then indeed go for it. Drive it gently and take care of it and in another two or three years I guarantee that a well maintained P38 will be as rare as hens teeth and probably worth quite a bit more than they are now. On Ebay a 50,000 mile Classic 4.2 LSE just topped EUR 9000 here in Germany.

The catch is, you will probably be the one who has to pay for all the fixes over the next 18 months or so....
 
rasheed said:
Drive it gently and take care of it and in another two or three years I guarantee that a well maintained P38 will be as rare as hens teeth and probably worth quite a bit more than they are now.
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I very much doubt it in the UK.
 
Well its an opinion. Just an educated guess based on the fact that most are now 4th, 5th, Nth hand and that ever increasing numbers appear to be going to the breakers. True the owner image is different to before because you can now step into P38 ownership for as little as a grand or fifteen hundred if you're not picky. But by say 2015 most of the crap ones will be gone. Picture a mint P38 Holland & Holland, garaged, no more than 4 owners, FSH etc. then. I reckon its gonna be worth something.

Take it however that you don't disagree with my prognosis that things are only just going to start going wrong? :D
 
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rasheed said:
Well its an opinion. Just an educated guess based on the fact that most are now 4th, 5th, Nth hand and that ever increasing numbers appear to be going to the breakers. True the owner image is different to before because you can now step into P38 ownership for as little as a grand or fifteen hundred if you're not picky. But by say 2015 most of the crap ones will be gone. Picture a mint P38 Holland & Holland, garaged, no more than 4 owners, FSH etc. then. I reckon its gonna be worth something.

Take it however that you don't disagree with my prognosis that things are only just going to start going wrong? :D
Click to expand...

A Holland and Holland might have collectable value but in general I don't think the P38 will be an appreciating classic, I can in honestly see them sticking at near current values as the lower end ones haven't really got anywhere else to fall.
A good RR Classic has started to hold its money or even maybe appreciate a bit because it is just that-a Classic, an icon.
The P38 is for the most part a good car and I do like them but I can't see them being that desireable in the future.
 
the petrol range rover engine is quite poor to say the least, it was something that was rejected by the us car makers and the uk ones thort it was a good idea, top hat linered and rebuilt it is a beautiful engine!!

but that costs, i think i know every inch of my car and tbh its a bag of ****! i wouldnt buy it again but i will buy another p38. i love em ( except the diesel one!) mine will end up in the scrap yard but i have so many fond memories i put up with the warts!

owning a p38 is not just owning a car, theres a lot of better cars out there!! that said i cant see me driving any of em (unless the prices fall drastically on the h&h overfinch)

12-14 mpg is very poor for a car these days but you have to enjoy those measly 12 miles and i do!!!

i would rather push a rangie than drive any other car!!!

which is probably a good thing as i am on first name terms with the recovery company!!!
 
The obvious problem with the Classics though is rust. I know, I have one quietly festering away. It's a bit more fun to drive I think as it always seems smaller than the P38. No idea if it actually is. Just seems that way. It's just as comfy and probably in real world terms just as quick A to B. It does roll a bit more though. But the overall build quality, especially the interior and switchgear etc is absolute utter crap. It was crap when they fitted it in Montegos and Maestros and putting it in a Range Rover didn't make it any better. The P38 is in a different league altogther as far as the interior is concerned. I think they're much better protected rust wise too on the chassis although I suppose a bit more time may be required to fully test that theory.
I keep a close ete on Ebay and Autotrader and I've noticed in the last couple of years there seems to be less and less tidy examples of Classics coming up for sale. Lots of tatty bargain basement examples though (like mine!). But still loads of P38s. Must say something.
I agree with Gav, there are a lot better cars out there but non with the same image and none with the sense of occasion you get with these cars. Hells bells, you can even get AMG55 Merc ML's now for around 5 or 6 grand. Complete with blacked out windows and a bloody awful image. Which would you sooner have? Perhaps better not answer that.....
 
Can't say I don't appreciate a decent AMG, the key word being decent though:p.
I agree that the P38 is a better car to actually drive than the Classic, there's no question of that but I think the Classic will always be more collectable/desirable hence worth more.
 
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