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How Expensive Is It to Own a Land Rover?

Published in Land Rover Ownership Cost 3 mins read

Owning a Land Rover, particularly a luxury model like the Range Rover, involves a significant financial commitment. The true cost to own a Land Rover can extend well beyond the initial purchase price, encompassing various ongoing expenses over its lifespan.

For a 2022 Range Rover SUV P525 HSE Westminster 4dr SUV 4WD (5.0L 8cyl S/C 8A), the estimated true cost of ownership is $34,034 in the first year and an impressive $121,162 over five years. These figures account for depreciation, fuel, financing, and other common ownership costs.

Breakdown of Ownership Costs for a 2022 Range Rover

The total cost of owning a Land Rover is influenced by several key factors. Here’s a detailed look at the financial components for the specific 2022 Range Rover P525 HSE Westminster model:

Cost Category Year 1 (Estimated) 5-Year Total (Estimated)
Financing $4,846 $14,207
Depreciation $15,747 $44,054
Fuel $4,298 $22,820
True Cost to Own® $34,034 $121,162

It's important to understand what contributes to these significant totals:

  • Depreciation: This is often the largest cost. Land Rovers, like many luxury vehicles, experience substantial depreciation, meaning the vehicle loses a considerable portion of its value over time, especially in the first few years. For the 2022 Range Rover P525 HSE Westminster, depreciation alone accounts for over $44,000 in five years.
  • Fuel: Given their size and powerful engines, Land Rovers typically have higher fuel consumption. The estimated fuel cost for this specific model is over $22,000 in five years.
  • Financing: If the vehicle is purchased with a loan, interest payments contribute significantly to the overall cost.
  • Other Costs Included in "True Cost to Own": While not individually broken down in the table above, the comprehensive "True Cost to Own" figure also typically includes:
    • Maintenance and Repairs: Luxury vehicles often have higher costs for routine servicing, parts, and specialized labor.
    • Insurance: Premiums for high-value SUVs can be considerably higher due to their cost, repair complexity, and performance.
    • Taxes and Fees: This includes sales tax, registration fees, and other governmental charges.

Factors Influencing Land Rover Ownership Costs

Beyond the specific model data, several general factors can influence how expensive a Land Rover is to own:

  • Model and Trim Level: Newer, higher-end models like the Range Rover will naturally have a greater true cost to own compared to smaller or older Land Rover vehicles such as the Discovery Sport or Evoque.
  • Driving Habits: Aggressive driving or frequent long trips can increase fuel consumption and accelerate wear and tear, leading to higher maintenance costs.
  • Location: Insurance premiums, fuel prices, and even labor rates for mechanics can vary significantly by geographic location.
  • Maintenance Schedule Adherence: Following the manufacturer's recommended maintenance schedule can help prevent larger, more expensive repairs down the line, although the services themselves are costly.
  • Warranty Coverage: New vehicles come with a warranty, which can mitigate repair costs initially. However, out-of-warranty repairs for complex systems can be very expensive.

In summary, owning a Land Rover is a premium experience that comes with substantial ongoing expenses, with depreciation, fuel, and financing often being the most significant factors contributing to the overall cost.