The new Range Rover has already generated £5 million in funding loans from one luxury specialist car finance firm… with the average model selling for just shy of £100,000.
A critics’ choice, the new Range Rover is clearly in great demand from customers too: Magnitude Finance reports one owner has just sold a three-month old model nearly £10,000 more than they paid for it.
The 4.4 SDV8 Autobiography model – Magnitude’s most poplar new Range Rover model – was bought for £99,425 in September. It’s just been sold for £109,000.
Director at Magnitude Finance, Tim Marlow, said: “The new Range Rover has captured the imagination of our high net worth clientele to such a degree that we have financed at least two a week on average since it was launched.
“Most clients who have financed Range Rovers through us have simply upgraded.”
Sounds like they’re not finished there either, says Marlow: his firm’s also seeing growing interest for the new Hybrid variant…
Which is all a fitting return to form for the Range Rover. Remember, the original one was in great demand for years, and it took the factory ages to catch up with orders. The demand versus supply curve of this one is simply following suit.
The rich reward for its rich owners? At the moment, negative depreciation thanks to buyers so keen to get into one, money really is no object…