PRICE CHECK
With bank interest rates at an all-time low, consider investing your savings in Land Rovers. So is it ISA or SIIA? Dave Phillips weighs up the pros and cons
EENTHUSIASTS often moan that collectors push up the values of classic Land Rovers. You can see their point: long gone are the days when you could pick up cheap and cheerful Series Land Rovers for a few hundred quid, because they’ve all been snapped up by collectors. But although bargain-basement oldies are now a rarity, the canny buyer can invest in some models knowing that they will appreciate in value. So why not beat the collectors at their own game?
With savings earning interest of less than one per cent at the bank, you can see why some folk would rather invest in something tangible.
If it comes to the choice of an ISA or a SIIA, the latter wins every time. After all, Individual Savings Accounts stay in the banks, while Series IIAS can drive up them. A Land Rover is an investment you can take for a spin at the weekend.
Having hopefully convinced you that Land Rovers can be good investments, let’s look at which ones are likely to be the biggest earners:
Series I, II, IIA, III
When it comes to values, the earlier and rarer the better. Early 80in Series Is fetch serious money, but everyone knows that, which means even barn-find resto projects are expensive. Series IIS and IIAS are also getting pricier. Better to look for a tidy but reasonably-priced Series III, whose values have been rising for over ten years.
Range Rovers
Last week I got the chance to buy a third-gen L322 for £1000. It’s a good-looking V8 that
cost my mate Russ £10,000, six years ago. Since then it’s spent most of its time parked up, because he’s been working in Nigeria. Probably because of that inactivity, it’s got a lot of niggling faults, so I turned it down. Even simple repairs are expensive on L322s. But it just shows how far the mighty have fallen when it comes to depreciation of luxury cars.
With first-generation RR Classics holding their values well, a rust-free example would be a good investment. But rust-free Classics are as rare as vegetables at editor Patrick’s BBQS. I’m going to surprise a lot of people here by putting my money on a second-gen P38. They don’t rust and their faults can be cheaply rectified if you understand automotive electronics. Better still, prices are low while values are steadily rising.
Defender
The coil-sprung utility models, including the pre-defender Ninety and One Ten, are good investments, as long as you pick the right vehicles. A beaten-up farm hack or abuseed off-roader will not appreciate in value. You need well looked-after and serviced models that are as clean and original as possible. Tdi, Td5 and TDCI engines are popular, but a rare factory V8 will always fetch a premium – as will special editions.
Discovery
Mint Discovery 1s can still be found. If you find one, buy it, because values are set to head upward. Es-spec and Tdis with auto gearboxes particularly sought-after.
Values of Disco 3 and 4 are steadily falling
and best avoided for investment purposes, but Discovery 2 is a good bet. Prices of this reliable model have plummeted due to well-publicised problems with rotting chassis, but they don’t all have rusty chassis. Get a clean one, keep it that way and expect to cash in a few years down the line.
Freelander
Both Freelander models were built in vast quantities, which means the market is flooded and prices are low, but first-generation models have already bottomed out and good Freelander 1s can only appreciate in value. Look for top-spec models – preferably limited editions from the 2005-6 (the last couple of years of production).
Others
Yes, I know I haven’t mentioned any newer models. That’s because modern Land Rovers don’t make money, they lose it – heavily. Enough said.
But there is always a demand for the unusual or specialist models. Forward Controls and anything military are always popular and a good investment. So too are oddities like fire engine conversions, snow ploughs and even breakdown trucks. Camper conversions less so, but fashions can change.
Whatever you buy, remember that rare models will usually be good investments. The fewer owners the better, along with service history and low miles. Get it right and you could be quids in.