A warning about values

I was told today by a car dealer that my pristine 2005 Defender 110 CSW "books at £7500"
In reality you'd struggle to buy one as good as mine for twice that.
Similar ones sell on Ebay for £16-20,000
But if CAP and Glass's say £7500 as the dealer claimed, that's where the insurance offer will start if it's a total loss.
Well worth looking at agreed value when insuring Defenders!

What price did he give? private , part exchange , or buying from a dealer?

which level of vehicle, high miles / rough or low miles immaculate?

How does the compare to what is in any of the LR mags?

Cheers

Mine's a lovely example, no oxidation scabs at all, chassis fully treated from new, unmarked interior.
The Dynachip guy said it was the cleanest TD5 he'd ever seen.
The offer was against a lower mileage one, mine's on 96,000 and theirs was under 40,000.
I just figured that putting another 60,000 on mine would see it at 150,000 and it might be better on the lower mileage one.

Theirs is up for sale at twenty!

So he was offering you a trade in price against one he had in stock.

Did he show you the value in the book?

Cheers

No it was over the phone.
But l wouldn't be surprised if that's what the book said.
Put your Defender on Webuyanycar and see what it offers.....it's scary.
My local lndy offered me £15,000 against a TDCi 110 at £23500.

lightning said:

Put your Defender on Webuyanycar and see what it offers.....it's scary.

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Yeah because that website will offer what the market will pay................

I personally would not trust a 2nd car salesmen to tell me the true value of a car that I wanted to part ex. but you carry on...LOL.

Cheers

Ahhh for sure. Mine is agreed value each year, got to do this years one as well.

Though in the event of write off/theft, never accept the first offer. You can trawl through ebay and find a collection of close examples to base the price of yours off. Which would in a sense be "market value". Not to mention the time and effort put in to actually build it, making many Defenders a "one off".

Last issue of LRO a fella had a expedition spec 110 insured for a whopping £160k!

neilly said:

Yeah because that website will offer what the market will pay................

I personally would not trust a 2nd car salesmen to tell me the true value of a car that I wanted to part ex. but you carry on...LOL.

Cheers

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Well, l won't be carrying on at that offer. But Glass's guide online only says £10,000.
While l would prefer it if values were not so high, there is no way on earth you'd get a Defender anything like the condition mine is in for that money. Similar ones sell in the £15-20,000 range.

I wonder if the new Defender when it arrives will affect values of the older one.

Just changing insurance for this reason and getting my 110 td5 valued soon.

Glass's Guide values their £20,000 Defender at £15,000.
So it's low by the same amount mine was valued by Glass's Guide at.

These are trade in values though, so are not THAT far out. Maybe a couple of thousand, but with Defenders it's all about condition.
You can have two identical ones (same model, year, mileage) and there can be £5,000+ difference.

If dealers gave you full value they wouldn't be dealing for too long.

True, but my Defender would retail at
£16-18,000 and they offered £8000. I'd expect to be offered maybe £14,000 in part exchange.
l have been offered £14,000 locally in part exchange (although the dealer knows the vehicle) and the other dealer was astonished at that price, they said if l could get £12,000 or more l would be having a "very good day indeed"

Here's an almost identical one to mine.

https://rover.ebay.com/rover/0/0/0?mpre=https://www.ebay.co.uk/ulk/itm/112397065958

But then this one is cheaper and looks to be in similar condition with much lower mileage!

https://rover.ebay.com/rover/0/0/0?mpre=https://www.ebay.co.uk/ulk/itm/272746721438

When I sold my 98 TD5 90 CSW earlier this year I was astonished by the interest and price it fetched. Given it was an 18 year old Landrover it was a very clean and tidy example with a few minor scratches as expected.
It was bought by a 4x4 dealer who paid me £900 more than I was initially asking. Obviously he had already sold it for more than that but I'm not complaining.
He never even test drove it. Just looked at the history and receipt for my new engine and transferred the funds then and there. Drove it away within half an hour or turning up.
It was up on his website the next day for £3k more than he paid me. I don't suppose he got the full asking price but it went very quickly. He had done a fresh MOT and was giving a 6 month warranty. He also sprayed the Disco alloys and rear crossmember + front bumper to tidy it up.
http://www.walton-motors.co.uk/
I owned that Defender for over eight years and sold it for more than £1k more than I paid for it. Granted I spent out on it over the years but that's car ownership for you. Given the theft issues and the recent T charge nonsense I'm glad I sold it when I did as it is not compliant.

I guess £2-3,000 is a reasonable markup. I decided to keep my existing 110 if that's all l am being offered in part ex.

shifty1962,

A plug for Walton Motors! A dodgy MOT and two rattle cans of paint = £3k. Very Shifty indeed

Going back to the comment regarding insurance values...I arranged for my insurance company - AXA - to repatriate my Defender (1998 300Tdi 110 CSW, 110k miles) after a fairly minor breakdown in France in 2013. The problem was a failed bearing in the belt tensioner (cost £5 from eBay) but I had to get home for work so I left it to them.
After a few days they called me and said that it "wasn't economically viable" to bring the truck home and offered me...wait for it....£600 for it as "scrap". I won't bother going through the subsequent arguments but well worth bearing in mind the advice about "agreed value". I got the vehicle back at no cost to me but not without a fight. I insure through a more intelligent broker now.

Sofasurfer said:

shifty1962,

A plug for Walton Motors! A dodgy MOT and two rattle cans of paint = £3k. Very Shifty indeed

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I'm certainly not plugging anyone! What they did with it after buying from me is up to them. MOT history is readily available to those who want to check. Caveat emptor or buyer beware as the saying goes. Although my Defender was one of the good ones so somebody got a decent motor.

ogb said:

Going back to the comment regarding insurance values...I arranged for my insurance company - AXA - to repatriate my Defender (1998 300Tdi 110 CSW, 110k miles) after a fairly minor breakdown in France in 2013. The problem was a failed bearing in the belt tensioner (cost £5 from eBay) but I had to get home for work so I left it to them.
After a few days they called me and said that it "wasn't economically viable" to bring the truck home and offered me...wait for it....£600 for it as "scrap". I won't bother going through the subsequent arguments but well worth bearing in mind the advice about "agreed value". I got the vehicle back at no cost to me but not without a fight. I insure through a more intelligent broker now.

Click to expand...

Sounds like somebody was trying it on there.
Even if your 300tdi 110 CSW was rough as a bear's a*se it would fetch six times that figure maybe more.