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I am trying to help a family member with a financed 2023 Range Rover autobiography lwb with 70k miles clean history perfect condition stunning ebony interior serviced only by Land Rover get rid of it and lease most likely an x7 she currently owes 95k on it any ideas?
Get online quotes to give you an idea of what the LR is worth now in the market. Though it’s likely to be heavily underwater… 3 yrs old and high mileage.
Once you have that starting point, you’ll be in a better position to decide next steps.
You’re looking at retail, not wholesale prices. It’s still a 3-yr old car with 70k miles. The interior has limited value to wholesalers. The market for such a unique vehicle at such a price is slim TBH. If you priced it out, my guess is your offers will be in the $75k range. Otherwise you’ll have to sell it private party (and still be hit with negative equity).
Thank you all for advise it was much appreciated !!! will keep you posted. I will pass on the info that she will probaly have to write a check for $15k-20k to get rid of it.
You are right. I undervalued a bit. The cited examples are $90kish but also, per Carguru, have been sitting for 2-3 months. I’m guessing $83-$85k is probably a more realistic retail price.
A bit off topic but I struggle to profile the buyer of $85k high mileage RR. Don’t get me wrong, these cars are stunning and I would definitely enjoy having one in my driveway. But on a sixty month note at 7% in NJ, with 0 down, you are looking at $1,800 a month plus a real risk of at least one very expensive repair over the next three years. At that point why wouldn’t you just lease a new one for $2,500 a month.
Agreed… I was thinking along the same lines as you were but didn’t have the time to post all that
I mean, if I wanted a RR LWB, I’d get a new one and not one that’s 3-4 yrs old with 70k miles on the clock. Well maintained and immaculate or not, it’s a $90k purchase. TBF, anyone that can afford a $90k purchase could, and probably would, get a new one. And an ebony interior (even if stunning) appeals to a very niche market.
Is your relative also in NJ? I’d look for local dealers that specialize in used high-line or exotics… maybe they can make you a decent offer or sell it on consignment.