This Is How Much A 2021 Range Rover Has Depreciated So Far

As Jaguar Land Rover's flagship SUV, the Range Rover is a luxury that few can afford. Drivers appreciate it for its combination of luxury, practicality, and its go-anywhere capability. However, depreciation is sadly a fact of life for every Range Rover owner, and buyers looking to sidestep the steepest part of that depreciation curve by buying used might be wondering how much more affordable a 2021 Range Rover is after five years on the road.

Data from CarEdge suggests that the 2021 Range Rover has depreciated as much as 74% in the last five years. This assumes that the SUV is in good condition, that it cost owners $157,225 back when it was showroom-fresh, and an average of 13,500 miles per year. To get a better idea of the Range Rover's depreciation, we also looked at values from Kelley Blue Book to see how they compare with the CarEdge estimate.

According to KBB, the 2021 Range Rover's depreciation generally works out to between 63% and 67%. This is based on the starting prices of the individual trims and their current resale values. At the time of writing, the base-spec P360, P400e HSE Hybrid, P525 HSE Westminster Edition, and P525 HSE Westminster Edition LWB are the best performers, with around 63% depreciation after five years, meaning they still hold around 37% of their value, according to the site.

The base trim continues to be the cheapest of the lot, with its resale value currently standing at $34,800. For the price, it offers a 355-horsepower 3.0-liter turbocharged inline-six along with leather seat upholstery, 16-way adjustable heated front seats, wood interior trim, a 12.3-inch infotainment touchscreen, and an adaptive suspension. Meanwhile, KBB estimates the P400e plug-in hybrid has retained $36,800 of its original $98,350 price tag, while the P525 HSE Westminster Edition and P525 HSE Westminster Edition LWB are currently valued at $42,900 and $43,900, respectively.

The P400 HSE Westminster Edition and Range Rover diesel sit close behind, losing 64% of their value after five years. Owners who bought the P400e Autobiography Hybrid, P525 Autobiography Fifty Edition, P525 SVAutobiography Dynamic, P525 SVAutobiography Dynamic Black, or the P525 SVAutobiography LWB saw an even steeper loss in value at about 65%. But the largest percentage loss comes from the P525 Autobiography Fifty Edition LWB and P525 Autobiography at around 66% and 67%, respectively.

At 74%, the 2021 Range Rover's five-year depreciation is significantly worse than the 2021 Bentley Bentayga's, which loses 57% of its value after five years of ownership. The problem is not limited to 2021 models alone. Range Rovers consistently land among the luxury vehicles with poor resale value. One reason for the accelerated rate of Range Rover depreciation could be the eye-watering running costs, according to CarEdge.

Data provided by the site shows that the typical Range Rover driver spends $19,750 maintaining the SUV in the first ten years of ownership. That's a staggering $7,297 above the industry average for a luxury SUV. Throw in the company's poor reputation for build quality as well as the higher-than-average chance that a Range Rover could need a major repair in that period (51.26%), and it's clear why this SUV scares off second-hand buyers.

Another reason why Range Rovers depreciate so much is the higher cost of insurance, and much of that has to do with the fact that they are among the car models with the highest risk of theft. Insurers generally charge higher premiums for more at-risk cars. That, in turn, narrows the appeal of the affected vehicles, since fewer people will pay the huge premiums.