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Discussion Starter · #1 ·
Greetings Velarians :)

As most of you on here know me I was one of the very first members of this forums and still the highest poster till date - what an achievement lol :D

I was part of numerous threads and discussions on why the Velar was a fantastic car and why I bought it after selling a Range Rover Sport....well I have now sold my Velar First Edition after 3 months of ownership and I want to tell you all why.

I have said before and I say it again - JLR completely ****ed up the marketing of this beautiful car. The Velar was supposed to be a Range Rover Sport Coupe but they decided to slot it in between the Evoque and RRS - a bigger Evoque or a smaller RRS? As most of you on here know the Velar is miles apart from an Evoque in both driving characteristics and fit and finish and it drives better than a RRS if anything?

I got HUGE amounts of compliments for my car - it turned heads everywhere it went - when parked up and I walked back to it there was always someone peeping in to the window to see the interior - many of these turned in to conversations as I used to unlocked the car as walking up to it and offered them to have a proper look :lol:

First thing they would usually say is "what a fantastic car, JLR have got this right haven't they - don't think there is anything on the market for £45kish which looks like this - I would be quick to correct them and tell them that this is the First Edition and costs nearly £85k to which their jaw dropped and they pretty much turn pale :mrgreen:

Yes social media is full of adverts showing pics of the First Edition or cars with the HSE Dynamic R spec with big wheels and advertising it for £45k or £300 a month on contract hire - this has completely mis lead joe public and tarnished the image of this wonderful motor!

All the media reviews of this car had one opinion - OVERPRICED! But why...its's because it was a bigger Evoque or smaller RRS! If it was a RRS coupe they would NOT be saying it's over priced as it would have been a BMW X5 / X6 kind of affair. My wife drives a £50k Evoque HSE Dynamic and I had a RRS and there is just no comparison the Velar is the best car out of the lot.

The biggest excitement about the velar was the Interior - so what do JLR do? They go and update the RRS and FFRR with the same interior for the MY18 cars! Who in their right mind would buy a £75k Velar when you can have a Vogue or RRS with a brilliant spec for the same price - especially when you are telling the world that the car sits below as Sport!?!?!?! Marketing Suicide IMHO!

So why did I sell if I liked it so much? Did I care about the perception of what others think (£45k car!)? Partially yes but mainly no. My dealer is one of the biggest dealers in the South East and they have hardly sold any Velars. The amount of cancelled orders they had was astonishing. Their forecourt is full of unsold Velars and there are also a few sitting in the showroom! There is also now a deposit contribution available on the Velar and this is likely to increase very soon. There are discounts being offered via Car wow and other means on the Velar too. This is NOT good for a car which is only a couple of months old and residual values are going to take a massive hit iMHO. A friend had managed to pick up a fully loaded £80k Velar for £70k including a free service plan and to me that was the last straw.

When I bought my RRS there was a 12 month waiting list - Velars are pretty much available off the shelf now if you can settle for a built car with a spec you like.

First Edition cars that were initially being advertised for a optimistic £8k above list price have now dramatically dropped to way below list price - Auto trader has some First Editions at a snip over £78k! That's a drop of nearly £6k in 3 months - WTF!

I have a good relationship with my dealer and managed to give my Velar back to them now whilst negotiating a good deal on an MY18 RRS SVR.

I'll still be around on the forums to see how you folks are getting on and I may buy a Velar again in the future when I have seen what happens to prices and deposit contributions as I loved the car a lot but did not want to get raped on depreciation.

As a comparison my First RRS HSE cost me £65,000 I drove it for 2 years and sold it for £59,000!
 

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A sad day for sure.

I almost jumped ship to a 2018 Si4 HSE RRS with the same list price as my Velar spec, but weirdly the lease cost was significantly higher pm suggesting at least from their perspective residuals are still considered strong. But agree if you're a private buyer you could get burned longer term.
 

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I had seen that you had you car on ebay and wondered why, now all is explained.

Agree with what you are saying in part, and I believe that the higher value cars may see poor residuals, as some of the OTR figures I've seen are astonishing.

if I was looking at figures up there with the RRS figures, which are way out of my league, I to would seriously consider this. But for me the d180 r dynamic S Velar I have on order with a handful of extras at £55k sits in my eyes perfectly between the Evoque and RRS, which if JLR's marketing is to be believed, is where is suppose to be.

As much as id like a Sport, I simply cannot afford one, so the Velar is a perfect next best/better thing
 

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Sad day for sure, and hopefully you can keep contributing to the forum with great insights.

If you don't mind me asking, what was the hit you took on the sale price after these three months?

A bit weird depreciation tbh, if you look at the Macan, it holds value very well, but less so on the very expensive versions - the sweetspot tends to be the £50k Macan's.....Velar I think you will reach it on the £60-65k range.

I think at £40k second hand these will hold value well so may see a drop until £40k but probably stabalise a bit then.

I am always curious on residuals and also check what the expectations are - I have checked (and always do), the LR website on finance deals - for us cash buyers it is useful as you can check the optional final payment price - this gives an idea of how much these are expected to be worth after the duration of the "agreement" - for cash buyrs, how much they may be worth after 36, 48 months...

If I select a low mileage (which is my use) on 49 months, the diesels tend to be worth over 50% after 4 years so not too bad

Of course these are estimates and you never know what may happen.

Out of curiosity, would people be penalised to cancel the orders? How come so many around?
 

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Discussion Starter · #5 ·
Milky400 said:
I had seen that you had you car on ebay and wondered why, now all is explained.

Agree with what you are saying in part, and I believe that the higher value cars may see poor residuals, as some of the OTR figures I've seen are astonishing.

if I was looking at figures up there with the RRS figures, which are way out of my league, I to would seriously consider this. But for me the d180 r dynamic S Velar I have on order with a handful of extras at £55k sits in my eyes perfectly between the Evoque and RRS, which if JLR's marketing is to be believed, is where is suppose to be.

As much as id like a Sport, I simply cannot afford one, so the Velar is a perfect next best/better thing
You are right - the lower priced cars won't suffer that much BUT once the higher priced cars drop further it may prove hard to sell the lower priced and spec car as in the second hand market people will want as much as they can get for their money if that makes sense? A entry level sport HSE can be had for £62k with discounts so you are only £7k out if you can stretch it may well be worth it?
 

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Discussion Starter · #6 ·
mavg1986 said:
Sad day for sure, and hopefully you can keep contributing to the forum with great insights.

If you don't mind me asking, what was the hit you took on the sale price after these three months?

A bit weird depreciation tbh, if you look at the Macan, it holds value very well, but less so on the very expensive versions - the sweetspot tends to be the £50k Macan's.....Velar I think you will reach it on the £60-65k range.

I think at £40k second hand these will hold value well so may see a drop until £40k but probably stabalise a bit then.

I am always curious on residuals and also check what the expectations are - I have checked (and always do), the LR website on finance deals - for us cash buyers it is useful as you can check the optional final payment price - this gives an idea of how much these are expected to be worth after the duration of the "agreement" - for cash buyrs, how much they may be worth after 36, 48 months...

If I select a low mileage (which is my use) on 49 months, the diesels tend to be worth over 50% after 4 years so not too bad

Of course these are estimates and you never know what may happen.

Out of curiosity, would people be penalised to cancel the orders? How come so many around?
My hit was abnormally minimal at the moment but this is only due to the relationship I have with my dealer due to buying numerous cars from them. I would say it was in the region of just under 3% :) Some of the other cars on sale out there are cheaper than what they paid me but then I am now buying a £100k SVR from them :)
 

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Discussion Starter · #8 ·
mavg1986 said:
Not bad at all, 3%...but thinking the Sport new shape will be released around 2019/2020 wouldn't the depreciation be worst on the SVR in the long run?
The new sport will not appear until at least 2021. I would have at least 3 years to enjoy it and I usually change every 2 years anyway.

SVRs have held value extremely well with early examples still over £80k.
 

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Sad to see you leave VelarMan. Indeed you were our highest poster on this forum and one of the very early Velar adopter.

If your depreciation rational is to be true, then we will surely encounter difficulties on resell. and I agree what happens on the top sgement will have some impact on lower price range models for what regards the 2nd market.

I was planning initially to resell our D180 Velar RS in 4/5 years time. I might resell a bit sooner in 2/3 years from now to minimize the depreciation impact.

Enjoy the RRS SVR in the meantime and promise us you will post some photos on this very forum when you are delivered, for our mouthwatering purposes :)
 

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Sorry to hear this, you were one of the first on here and I've always enjoyed reading your posts.

I know we're all aware the depreciation curve is steep the first three years, then it slows down. The main thing that helps are waiting lists, I guess if waiting lists are not that long then you'll start to see the depreciation early.

I think the market in general is suffering, new car sales down all over, interest rates just been put up, brexit on the horizon, diesel getting loads of bad press... who knows what will happen to the market next year.
 

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Discussion Starter · #15 ·
Rob said:
Sorry to hear this, you were one of the first on here and I've always enjoyed reading your posts.

I know we're all aware the depreciation curve is steep the first three years, then it slows down. The main thing that helps are waiting lists, I guess if waiting lists are not that long then you'll start to see the depreciation early.

I think the market in general is suffering, new car sales down all over, interest rates just been put up, brexit on the horizon, diesel getting loads of bad press... who knows what will happen to the market next year.
Thanks for the kind words Rob, I'll stick around for sure to see how things continue on here :)

You are right - the RRS residuals were amazing as there were along waiting lists but with the Velar there are plenty of cars available immediately. A quick call to your nearest 5 dealers will substantiate my findings as all dealers have cars that are cancelled orders.

As I said - it's a bloody fantastic car but for something I just paid close to £85k for (the special edition which seemingly was a ltd run for the first production year and apparently sold out) and seeing them drop so quickly worried me too much to enjoy the car.

I think I may chop in the wifes Evoque and buy the hybrid Velar when it appears as long as the price is right - the wife is not too bothered with the options list so I may be able to keep it to a sensible price :)
 

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Discussion Starter · #16 ·
mavg1986 said:
My dealer has been selling all of his stock orders.. this week I believe they have delivered three...

Have you all heard similar stories about discount and cancelled orders?
Stick a quote on carwow and sit back and wait - first dealers will offer you discounts they can on new builds but then within a week you will be emailed a list of available cars at UK dealerships for immediate delivery and there is a MASSIVE list of them!
 

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Discussion Starter · #17 ·
Ludo said:
Sad to see you leave VelarMan. Indeed you were our highest poster on this forum and one of the very early Velar adopter.

If your depreciation rational is to be true, then we will surely encounter difficulties on resell. and I agree what happens on the top sgement will have some impact on lower price range models for what regards the 2nd market.

I was planning initially to resell our D180 Velar RS in 4/5 years time. I might resell a bit sooner in 2/3 years from now to minimize the depreciation impact.

Enjoy the RRS SVR in the meantime and promise us you will post some photos on this very forum when you are delivered, for our mouthwatering purposes :)
Thanks mate will surely share pics when it arrives hopefully early next year :)
 

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VelarMan said:
Sure will send you a PM
To be able to jump from a velar FE to RRS SVR is a very privileged position, good luck to you and I also look forward to seeing the photos.

On a side not could I also get a PM with the details of your insurance contact.

Much appreciated.

Omar
 

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59k sale price against a 65k purchase after 2 years..... seriously????

What planet you on dude....
 

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So, I also am thinking about ditching my Velar but for different reasons. In my long review posted a few days ago, I complained about how I missed a V8 and that the Velar is just too car like for my liking. I noted similar strengths as you have, that it's fun to drive, looks great, etc.

I agree with you that LR has ballsed up the marketing. I don't think they took into account that people in general think that small vehicles should not be expensive. They make exceptions for sports cars (F-type, etc) but for crossovers and hatchbacks people just cannot accept a high price tag. Gerry McGovern calls it the "Avant Garde Range Rover" but consumers don't understand or give a shit about design innovation this way. And as you said they immediately put the touch pro duo on the upper models.

I think LR could have gone in two different directions than they did -- make the top spec version actually sit price wise between the Evoque and Sport and take away a few options/features, OR market it as a Sport Coupe and include a V8 option, and cut out the low spec versions. Give it a just under 5 second 0-60 time. As it is, you can go from $50k (US) up to $92k. Companies like Porsche do the exact same thing with the Macan. But the top spec Macan has crazy fast performance and people feel like it's worth it. (would never buy one of those ugly things). But Porsche has a different brand perception in the marketplace. And they don't have a model "above" it that has so much overlap (which carries prestige and bragging rights) at a similar price.

I leased my Velar for 2.5 years and would have to buy out the lease contract terms (owning it) and then sell it privately. I'll probably just tough it out until the 2020 Sport is ready. Or do the math and see what I can get selling it privately but this is worrisome if sales are bad. Ultimately, it's a nice vehicle and nothing for me to get upset about making the wrong decision. I can live with it I think.

Ultimately I'll also get a Sport SVR which is what I wanted in the first place. I got the Velar somewhat impulsively as my 2010 sport was acting up, and was taken in by the Velar good looks, and the fact that the L494 is looking dated and past mid life. You can only take in so much about a vehicle on short test drives. I'm starting to think I'd enjoy driving the less dated looking 2018 Sport a little more.

I don't want to discourage anyone from considering the Velar -- as I said I just have a preference for something bigger, higher, and with a V8.

Anyway, will be watching to see your new SVR Velarman! I know where to look :) Enjoy it!
 
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