WTF??? These guys should be flogged! - Defender Source
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  #1  
Old November 7th, 2008, 12:06 PM
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WTF??? These guys should be flogged!

Why do dealerships think they can still get $50k for a '97 Defender???

"This is only Defender left in the US with a remaining warranty." Wow, that must be worth the other $20k

Ridiculous Ebay Listing
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  #2  
Old November 7th, 2008, 12:44 PM
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Doug Crowther
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Looks like he's just a used car dealer praying. Good luck to him in this economy.
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  #3  
Old November 7th, 2008, 01:36 PM
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Kelly
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Looks pretty nice actually. You never know. There may be a person out there that wants a yellow Defender in a soft top with a auto tranny that has plenty of money and thinks it is worth the coins. I guess its kinda of like my grandfather once told me, "There is an ass for every seat".
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  #4  
Old November 7th, 2008, 02:11 PM
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Andrew Najarian
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I think it is asking alot, but it is a desirable combo, really clean, low miles and warranty is worth some extra, especially the Rover warranty because it will cover almost anything without hassle. I still think $50 is alot, but other rover dealers are asking similar amounts for D90's in worse shape, with more miles and no warranty.
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Old November 7th, 2008, 02:49 PM
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Land rover marin said they'd give me low $40's, and my truck had 76K on it, so Im sure someone out there would pay that. However, I think that because of the present value of cash flows, the market for these will die over the next few years. If someone can get 40K or more now and they actually want to sell, they should.

When the next remodel of the defender takes place, they'll have to meet the new Euro vehicle regs, which look pretty similar to the USDOT. I'd expect a defender to be available in the US within 10 years, and once it is, prices will converge with European prices, not to mention that each year, we will import more and more 110s, which currently cost less than 20K. In 6 years, we will have old Euro D90s and the possibility of new D90s to choose from, and with either of those, the demand for '97s at $40K+ should disappear.

Im not trying to start a fight on the board, and don't know half as much about these trucks as the average person here, nor am i an expert on DOT regs in the US or Europe. I am, however, a business appraiser for PE/VC firms, and make my living valuing things.
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Old November 7th, 2008, 03:58 PM
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I think I'm going to start a business. Here's my business plan: Purchasing high mileage D-90's in the upper $20's and selling them to Land Rover Marin for low $40's.

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  #7  
Old November 7th, 2008, 04:14 PM
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I hear that. The day after they inspected it and i had made the payment, they called the previous owner and offered him 41K trying to buy it out from under me. They called me next and were appalled that he had sold it to me for high 20's. They told him it was the cleanest one they had seen (he had $45K in it), but i wasn't sure how serious they were about the offer and wasn't looking to sell regardless. Ive seen lots of trucks here advertised for high 30s lower 40s, but i don't know what they finally go for.

Nice Bania quote, lance
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