P38A Are P38's the new Classic

Ok bare with me a minute here guys, I know the classic has over the last couple of years shot through the roof with even complete basket cases going on Flee bay for over £2000 and it would seem that some people are still wanting to break there bank balance and there relationships for this most iconic of Range Rover shapes. Well 12 months ago after a few beers one evening, looking through my beer goggles I was just outbid on a classic and so ended up with a 4.0 ltr P38. I eventually paid £2000 for a 2000 model with 10000 on the clock and the odd couple of faults. Those faults now fixed and a grand later I was just offered the opportunity by Heritage insurance to have an agreed value placed on my car. To my surprise I have now an agreed value of £5000. The amount of P38's on the world wide interweb has over those 12 months been rapidly diminishing with more than half now spares or repair. So with less rot than a classic and in some cases the L322 and with less electronics than the later has the P 38 finally become of age and those fortunate enough to love and own one now on the crest of a wave ????

One of the classic car magazines earlier this year said the P38 was a car to buy in 2016. Their reason was that good Classics are becoming hard to find, and fetching serious money. I think well kept examples with not too many miles will gradually appreciate in value.

No, bmw range rovers are still getting even cheaper now.
Good condition p38s are cheaper now than a year ago, not reached the bottom yet.
P38 owners are moving to the next gen rr and leaving this one behind.
Buy a classic, you can easily get a cheap one, there are plenty about at low prices.

Don't be silly

cooltide said:

Don't be silly

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Please explain don't be silly, which poster?

Think Soriano is right. Ones that have been to the moon and back won't do so well. Probably just the top end 4.6s will be worth much.

You might find other models appreciating in 5 - 10 years if your wallet can hold out that long. maybe enough to cover half the maintenance bills!

So the general view is that

So the general view is that the P38 will not be a car which will return a good profit in years too come. Think a little of you are a bit short sighted but time will tell and we will have see what the future holds. Personally I think there the last Range Rover that can be worked on and that with a little care will last, As for there are plenty of classics out there at cheap prices, where are you living Mars !!!!. A decent Classic at the moment which requires little work is 8 ~ 9 K for me and a lot of others 9k ain't cheap .

What are the prices like on the anniversaries and other specials?
I'd expect these to appreciate, think it's a bit late to invest in a Holland and Holland.

Not that I've got a good track record, I thought the mgzt260 would be worth an investment 10 years ago and its still worth buttons

A good classic commands a good price, plenty others are a bargain at the moment, just need to put work and money into them.
Plenty complete classics at low prices but they need work, no need to visit Mars, there are plenty here.

Ruby Range said:

So the general view is that the P38 will not be a car which will return a good profit in years too come. Think a little of you are a bit short sighted but time will tell and we will have see what the future holds. Personally I think there the last Range Rover that can be worked on and that with a little care will last, As for there are plenty of classics out there at cheap prices, where are you living Mars !!!!. A decent Classic at the moment which requires little work is 8 ~ 9 K for me and a lot of others 9k ain't cheap .

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Some will but not all.

The Defender lasts because it was relatively cheap and simple to fix and has a go-anywhere image. I think the P38 is underrated on the latter but it certainly has some expensive bits so I don't think it is economically as viable as the Defender. In its own right for its age it was a damn good car and arguably one of the most robust of recent times. But as said above, people won't want budget DTs like mine, they're want top spec and low mileage. Garaged too. Amazing what sitting a car outside does but mine sits on the drive or road 24/7.

there's a classic in grange over sands, 25000 miles and its £45000! might be a while before a p38 gets to that sort of price

Just look at what Ford capris are drawing these days and there were millions of those. All cars will become rare and valuable eventually.

Sure even basic ones will appreciate a bit but doubt I will get what I have spent back.

+1, mine would have to fetch around 12k to recoup what it's cost me in the past 5 years.....& with 180k on the clock I don't ever see it fetching nearly half that....ever

Well that's it then mine is going in the garage under a cover for the next 10 years !!!!!, think i'll look for one of those cheap classics

There is a lot of them on classified or buyitnow for very little money at the moment.
Good time to buy one or two.
Must be owners getting rid of them before winter.

You can't really count maintenance costs, you would have to spend money on any car. In 3 years of having a lease car I've spent over 2k on compulsory servicing. Fact is, if you buy a p38 now in reasonable order and keep it that way, in 10-15 years it will be worth good money. Is it an investment opportunity? Probably not unless you have a special.

Wazzajnr said:

You can't really count maintenance costs, you would have to spend money on any car. In 3 years of having a lease car I've spent over 2k on compulsory servicing. Fact is, if you buy a p38 now in reasonable order and keep it that way, in 10-15 years it will be worth good money. Is it an investment opportunity? Probably not unless you have a special.

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If I had room to store stuff I'd already have a couple of donor vehicles lined up!

the classic was a turning point from a tractor to a Chelsea tractor and LSE one to have, the P38 ( I've owned one) was and is a total technical pile of ****e- complicated by Body module and ****er Air con controls.

Mine had habit of a cocaine whore and reliability to suit- total pile of ****e over the classics I drove for many years