Driving a Range Rover Evoque costs less than you think

If you read our recent article about how leasing a prestige car can cost less than buying it outright, you probably won’t be surprised to learn that running a prestige car is not as costly to your business as many imagine.

Range Rovers must be one of the most aspirational cars for the successful businessman. Their luxurious interiors and ability to turn long distance miles into a driving pleasure, make these cars highly sought after, although many people are discouraged by their high purchase costs, depreciation and running costs, particularly with punitive company car taxes.

In line with all car manufacturers, Land Rover has worked hard to reduce emissions and improve fuel economy in its latest range of Range Rovers. Range Rover drivers need no longer fear the tax man, or max out their credit cards at the fuel pump. Range Rovers are now viable, and attractive propositions for company car drivers.

This is particulary true with the Range Rove Evoque.

Although the Evoque is smaller than some of its stable mates, it is definitely a Range Rover. Not only is it a fine car on the road, but it boasts many of the off road capabilities of its bigger brothers. It is also just as luxurious and attracts admiring glances, particularly if you opt for the convertible version.

For such a capable and powerful car, the Evoque is surpisingly economical. Land Rover publish fuel consumption figures which show that manual variants can achieve 65 mpg for the combined cycle, with automatics returning a still healthy 55 mpg. Emissions are also low with 113 g/Km and 134 g/Km respectively.

So the latest engines and technologies in the Evoque are helping the environment and your wallet with lower fuel costs and tax bills, but what about the purchase costs and what is the best way to own one?

There are three models in the Evoque range: SE, SE Tech and the Landmark Edition. Prices start from £33,760 for the SE and rise to £39,000 for the Landmark Edition, plus the inevitable additional costs for the cleverly designed extras that drivers desire and manufacturers put on the “options list”, rather than include on the standard specification.

caluculating the cost of car ownership

So to buy a Range Rover Evoque outright is pricey and ties up lot of capital – but it is a sought after prestige car after all. However, there are some affordable Range Rover leasing deals that can be attractive and make sound financial sense.

For example, it costs £259 plus VAT per month to lease a Rover Evoque 5 Door Se diesel with a six-speed gear box. This is for a contract length of 5 years with a six months rental initial deposit. The total cost of this lease is £17,094 plus VAT which is financed through your opex (operational expenses) rather than capex (capital expenditure).

Over five years, this Evoque is likely to depreciate by at least 60% reducing the value of a purchased Range Rover Evoque from £30,760 down to £12,304 – a depreciation loss of £18,456 plus any car loan costs.

With car manufacturers like Land Rover making more environmentally friendly and economical vehicles and the availability of excellent leasing deals, being the proud owner of a presitige car like the Range Rover Evoque is becoming more attainable.

This is great news for the businessman and it will make their accountant happy too!

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