Discovery 2017

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  • Popsdosh
    Member Since: 06 Nov 2021
    Location: Cambs
    Posts: 138
    United Kingdom 

    JLR insurance .

    Has anybody had a quote yet for the JLR insurance they are offering to bypass the reluctance of main stream insurers to insure these vehicles?
  • SJT
    Member Since: 27 Jul 2023
    Location: somerset
    Posts: 7
    United Kingdom 

    They declined me!

    "Old bloke, decades of NCB, 2021 Disco Commercial"..... very odd!

    I went with LV in the end.. £580.. bargain!

    SJT
  • Popsdosh
    Member Since: 06 Nov 2021
    Location: Cambs
    Posts: 138
    United Kingdom 

    That makes a mockery of their intention..
  • Darras
    Member Since: 16 May 2020
    Location: Newcastle
    Posts: 762
    United Kingdom 

    Forget it. I got a quote with LR out of curiosity when they announced their insurance.. It was just over a grand. Somehow I wasn’t surprised. I stayed with LV at less than half the price.

    I suppose LR aren't content with ripping us off with their new vehicle prices, mega high depreciation and all the woes of owning one, they are now turning their hand to rip off insurance.

    Wouldn’t be surprised if their business model is fashioned on the PO and Fujitsu. Rolling Eyes
  • Popsdosh
    Member Since: 06 Nov 2021
    Location: Cambs
    Posts: 138
    United Kingdom 

    Its modelled on the fact they had to do something as the newer models were becoming uninsurable because the majority of insurers would not even quote on them and that number was getting larger. The actual underwriters that ultimately pick up the tab have said enough is enough and their number is a lot less than the companies offering insurance.
    That why I was sceptical about JLR offering this as they will still have to be using one of those underwriters and are most likely having to be subsidising the price to obtain cover.
    As for your other point about cost of ownership welcome to the reality world which was put on hold for a few years by ultra low interest rates. Sort of showing my age but I grew up with double digit inflation and double digit interest rates for many years people have got used to cheap money and the bubble had to burst . Im afraid the residual values have crashed because the next step in the vehicles life has run away because they cant afford the finance rates and the repairs off warranty ,even if you have extended warranty that comes at ever increasing cost.
  • 747_JK
    Member Since: 26 Jun 2018
    Location: England
    Posts: 409
    United Kingdom 
    2022 Discovery SDV6 HSE Lux Santorini Black

    Excuse my ignorance, but has the RV taken a battering in the last 6-9 months? I was very happy with the trade-in value I got on a near-five-year-old D5 MY2019 last summer... It was way higher than I had expected.

    MY23.5 D5 3.0 MHEV Metropolitan Edition – Santorini Black – Ebony Windsor Leather – 21” Style 5025 gloss black wheels – 21” full size spare tyre – Black roof rails – Black side mouldings - Williams Ceramic Coat. [Gone: D5 HSE @ 50,795miles: (now LH68 BYW)]
  • Darras
    Member Since: 16 May 2020
    Location: Newcastle
    Posts: 762
    United Kingdom 

    Answering your points.

    I don’t believe LRs sale figures suffered as a result of insurance hikes. Demand still outstrips supply.

    It does affect those people that have already purchased their LR, but insurance prices for all have been increasing generally. Several excuses have been made to justify this, but the insurance companies are simply hitting those they think can afford it to increase their profits, the reason for their existence.

    Whilst a few insurance companies won’t look at insuring the Disco, many will but with an increase in premium.

    IMHO LR offering their own insurance is LR over jumping on the insurance bandwagon and reaping the benefits. I don’t believe for one moment they are subsidising premiums based on what I’ve seen, LR insurance quotes are on a par or exceed any other quotes I and others on here have had.

    I also recall 15% interest rates certainly on mortgages as I paid them back in the day, but low interest rates weren’t for a “few years” as you said. It was longer than that, from 2008 until 2023 - 15 years.

    Also if you presently check the LR UK site you will see the APR for HP on a Disco is 5.9%. That hasn’t changed very much, so I don’t accept your point about affordability. Perhaps in the general context of the cost of living, not that it really affected the luxury car market.

    Finally, I’ve had extended LR insurance for a couple of years now. It surprisingly hasnt increased from its £1,050 or thereabouts, which if you want you can spread over 10 months at zero percent, so again i dont think it had any effect on ownership, its just a pity most need to view this as obligatory when buying and holding onto a LR.

    So in essence, I stand by what I said and to answer 747s question, values have dropped quite a bit in the last 6-9 months.
  • discus
    Member Since: 22 Aug 2019
    Location: North
    Posts: 156
    United Kingdom 

    The insurance situation seems a lot better than it was a few months ago. Lots of quotes on meerkat for just 10-25% more than last year, which is not going to make anyone change their purchase decision. Three months ago there were hardly any quotes, and some of them were for several thousand pounds. That seems to have reversed now. Might be different if you are in London or some other theft hotspot.
  • Popsdosh
    Member Since: 06 Nov 2021
    Location: Cambs
    Posts: 138
    United Kingdom 

    Darras wrote:
    Answering your points. A few contradictions here maybe.

    'I don’t believe LRs sale figures suffered as a result of insurance hikes. Demand still outstrips supply.'

    Very hard to believe when I am bombarded by emails with special sales weekends and with residual values dropping leaving dealers sitting on overvalued second hand stock from trade ins already in the pipeline. Also evidenced by your comment below. You can buy brand new ex stock at the moment if you hunt for the spec you want its been a while since thats been possible.

    'So in essence, I stand by what I said and to answer 747s question, values have dropped quite a bit in the last 6-9 months.'

    The fact that LR are offering such low APRs also backs this up as they are having to put their hands in their pockets to subsidise this just to sell new product.



    'IMHO LR offering their own insurance is LR over jumping on the insurance bandwagon and reaping the benefits. I don’t believe for one moment they are subsidising premiums based on what I’ve seen, LR insurance quotes are on a par or exceed any other quotes I and others on here have had.'

    JLR have offered insurance for years , but to be fair the issues multiply when you move to the more expensive end and thats why they have been pushing it .

    Just a useful exercise that may frighten you work out the daily cost of having a discovery standing idle on your drive now ! im not saying the privileged few who can afford it but those who buy their trade ins down the line which is why residuals are falling . The leasing companies are taking back stock that they will never cover the residual value of right at this moment.

    .

  • Popsdosh
    Member Since: 06 Nov 2021
    Location: Cambs
    Posts: 138
    United Kingdom 

    FWIW I have just out of interest checked out a new Discovery finance quote and im baffled how they are working out the APR

    for a balance to finance figure of£ 52,275 over 49months you are paying £26,100 in finance charges
    A very rough calculation at 5.9 apr would put thje finance charges at £ 12, 333 over that period . I guess somebody is not telling the truth!!! To be totally honest if you use the quoted fixed interest rate of 5.74% that should give you a more reallistic 11.5% APR. Even using that would amount to total finance cost of less than £25,000. Rolling with laughter
  • Darras
    Member Since: 16 May 2020
    Location: Newcastle
    Posts: 762
    United Kingdom 

    I just bunged the figures in on their web site and quoted what came out. It’s a black art whatever they seem to do.

    I did notice the Disco Sport APR was over 7%, but didn’t go into other models.

    I was simply curious, I’ve never has a loan as such for a car, although I did latch onto taking out a LR one simply for a deposit contribution and paying it off within a day, thus attracting £12 odd interest, but getting £2.5k for my troubles. Not sure they have that sort of offer on anymore.

    I do know Volvo is currently offering some models 3 years at zero percent and a deposit contribution. Think they want you to have 50% deposit for a new car, but otherwise looks good with a three to four week lead time mostly,

    I will be migrating over when the time arises after 7 new LRs. Won’t be the first or last to do this. I like them, but could just do without the drama of owning a car that seems to be plagued by problems, poor dealerships and an even poorer manufacturer coupled with lousy residues and a high running cost, particularly when it’s just a car I use occasionally.
  • Whippetman
    Member Since: 16 Feb 2019
    Location: North Somerset
    Posts: 386
    England 

    In my experience it was the vehicle problems which could be even be fairly minor ( excluding the engine failure) but the total arrogance and bad attitude I received from the Somerset main dealer beginning with a “T”
    Service department useless. MP the salesman was great!

    HSE LUX, Aintree Green GONE
  • Wolfpack
    Member Since: 25 May 2019
    Location: Norfolk, UK
    Posts: 358
    United Kingdom 
    2017 Discovery Si6 HSE Corris Grey

    Darras wrote:
    I just bunged the figures in on their web site and quoted what came out. It’s a black art whatever they seem to do.

    I did notice the Disco Sport APR was over 7%, but didn’t go into other models.

    I was simply curious, I’ve never has a loan as such for a car, although I did latch onto taking out a LR one simply for a deposit contribution and paying it off within a day, thus attracting £12 odd interest, but getting £2.5k for my troubles. Not sure they have that sort of offer on anymore.

    I do know Volvo is currently offering some models 3 years at zero percent and a deposit contribution. Think they want you to have 50% deposit for a new car, but otherwise looks good with a three to four week lead time mostly,

    I will be migrating over when the time arises after 7 new LRs. Won’t be the first or last to do this. I like them, but could just do without the drama of owning a car that seems to be plagued by problems, poor dealerships and an even poorer manufacturer coupled with lousy residues and a high running cost, particularly when it’s just a car I use occasionally.



    We are getting a new Volvo dealership this year, not a mile from where I live. Perhaps they have heard about my and other local peoples experience with the local JLR dealership.

    It’s 10years since I last drove a Volvo…can’t wait.
  • Popsdosh
    Member Since: 06 Nov 2021
    Location: Cambs
    Posts: 138
    United Kingdom 

    Darras wrote:
    I just bunged the figures in on their web site and quoted what came out. It’s a black art whatever they seem to do.

    .


    We recently had two quotes for a 400k tractor . one of the quotes was with interest free finance over 3 yrs with 50% of retail price down up front . The other was with nearly 100k of finance charges over 3 yrs but a 100k discount. They have you one way or the other.
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