Land Rover Defender fetching 20% PREMIUMS – used values rising too

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The iconic Land Rover Defender has now ended production, resulting in rising values for used Defenders and premiums of 20% on new and nearly new.

The final Land Rover Defender has rolled off the production line in Solihull – ending a production run stretching back to 1948 – but demand for the Defender is still so strong that used prices are on the rise, and buyers desperate for a Defender are paying premiums of 20 per cent and more to grab a new, or nearly new, Defender.

CAP – oracle of car values – says the upward movement in used prices for Defenders is significant, with a three year old Defender 90 Hard Top with 30k miles rising in value by over 6 per cent in the last six months – from £11,600 in June 2015 to £12,300 now.

But it’s the nearly new market that’s seeing the biggest rise, with CAP quoting a 1,000 mile Defender 90 – list price £20,400 – currently being offered for £30k, and average premiums running at 20 per cent and more.

Part of the big premium for new and nearly new Defenders is probably down to specialist customisers – like Twisted, Khan and Overfinch – trying to ensure they have donor cars for their extensive updates, but a big chunk is Land Rover lovers making sure they can get their hands on a late model Defender.

CAP reckons there’s unlikely to be much change in the situation either, with Defender owners now likely to keep hold of their vehicle for a long time, keeping used prices high with fewer models to choose from.

So if you’re thinking of grabbing a Defender – even at a premium – it does seem your money will be safe.