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Mon
Oct 13 2008

Deals: Credit-crunched SUVs

Ian Tonkin

Welcome to our new round-up of the most compelling bargains in the car market at the moment.

Range This week we’re talking SUVs, which have been losing value hand over fist in the last year.

With the credit crunch biting, fuel prices soaring and road tax going through the roof, there’s never been a better time for the brave to jump into owning a fully fledged gas-guzzler.

If you can live with the social stigma – and the fuel costs – then there are some really sweet deals out there.

Take the controversial Cayenne. At these prices, somebody has to. It’s currently the cheapest way into a recent Porsche, and we managed to find a 2003 Cayenne Tiptronic S for just £14,495.

With 68,000 miles showing, a full service history and full leather interior that’s compelling value –and it’s actually £5000 less than its ‘official’ retail price in one well-known trade guide.

Next, the Range Rover. The current version still possesses indisputable country club kudos, and prices of early versions are now plummeting like depressed lemmings.

We were shocked (and delighted) to find a pre-facelift version selling for supermini money: this 02-reg TD6 HSE is being offered for just £12,950, complete with sat-nav. Stick a private plate on it and people will think you spent the thick end of £30K on it.

Next to the residual carnage, the previous-generation X5 is holding up reasonably well - £14,000 for a 05-reg 4.8iS with 47,000 miles looks strong in this market.

What if you need genuine off-road ability? How about the Toyota Land Cruiser? The previous-generation Amazon is an unpretentious alternative to the Range Rover, will get you to Cape Town without complaining and – in diesel guise – should manage 25mpg if driven gently. This 02-plate 4.2 VX looks like a snip at £12,000.

 

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Comments

Zeddy October 13, 2008 6:00 PM

What's the discount for cash?

horseandcart October 13, 2008 6:27 PM

Ian, the only saving grace is the drop back in fuel prices, with diesel slightly more pronounced, around 15p/litre from peak. Buyers beware though if crude oil price continues its fall expect renewed calls from Greenpeace and alike to reintrodice fuel duty escalator, backed by govt. ministers with an eye on falling VAT revenues from lower priced overall fuel price.

ThwartedEfforts October 13, 2008 8:19 PM

Paying cash will win you no favours if it's a large amount of money - over €15K (about £11K) means the transaction falls within the scope of The Money Laundering Regulations 2003.

Aside from the law, and having to count all your money, not to mention satisfy himself that you're legit and none of the notes you present are forged, the dealer's insurance company - not to mention his common sense - will demand that he deposit large amounts very quickly so as not to leave the premises at risk overnight. For safety reasons a trip to the bank may involve at least two members of staff, and if it's a weekend or after 5pm when the bank is shut, most dealers will make you come back another time when it's open.

You are in fact far better off arranging a direct transfer, paying by a debit card, or arranging for a bank or society cheque a day or two in advance so that the dealer can corroborate it by phoning the originating branch. Better still he'd like you to take out finance, thus earning him a Christmas hamper from the finance provider :)

In short then, paying cash for higher priced cars - or high priced anything - is a royal pain in the ass for most dealers. Shadier dealers aside, the notion that you can scrape some huge deal with folding is a total myth.

Zeddy October 13, 2008 8:36 PM

Thank you ThwartedEfforts, I thought my dry wit was poor but I bow to the master.  

W124 October 13, 2008 10:58 PM

RX300 Lexus. Cheap, very cheap. Not GS430 madness yet but getting there.  

ThwartedEfforts October 13, 2008 11:15 PM

Zeddy, you were being funny? Er, okaay...

ESP deactivated October 14, 2008 7:39 AM

£14,500 for a Cayenne - you still wouldn't though, would you?

TegTypeR October 14, 2008 11:53 AM

Nop, sorry, still won't do a 4 x 4 no matter how cheap.  I'm keeping my money for something just as thirsty but a lot more entertaining.  How about a 2004 34k mile Monaro for under £10k.....

Quattro369 October 14, 2008 1:49 PM

TegTypeR - I agree. The previous (E39?) BMW M5 4.0 V8 can now be had for less than £10k. Now thats a bargain!

horseandcart October 14, 2008 3:28 PM

Quattro, the E39 M5 had a five litre V8, not four, knocking out around 400bhp. The 'S62' engine:

en.wikipedia.org/.../BMW_S62

ThwartedEfforts October 14, 2008 5:38 PM

Have to agree with Teg - unless you're a farmer a 4x4 is a very unrewarding way to lose money.

wigsworld October 14, 2008 10:14 PM

Very tempted to get a massive v8, might aswell get in there before they're banned and we're all forced to drive diesel hybrids!

theop October 16, 2008 8:37 PM

Cayenne has got to be the ugliest large vehicle ever...

I wouldn't touch one if you paid me 15k, let alone pay... (slightly exaggerating to make the point stick..)

Rangies are great at 15 k , but are soooo expensive to run and unreliable... Goiod place to be stuck in traffic though and the ultimate golf club/restaurant arrival mobile....

Prob is you pay 15 today, it will be 5 in 2 years... Those devalue to 0....

I was thinking (equally bad depreciation) of Touareg v10tdi 's for under 20k... there are plenty around... Good looking too...

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