- Popsdosh
- Member Since: 06 Nov 2021
- Location: Cambs
- Posts: 138
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: 4
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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
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That makes a mockery of their intention..
- Popsdosh
- Member Since: 06 Nov 2021
- Location: Cambs
- Posts: 138
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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: 371
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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: 749
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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: 132
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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.
- Darras
- Member Since: 16 May 2020
- Location: Newcastle
- Posts: 749
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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: 385
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
