Why would a complete rebuild of an almost 15 year old FFRR make sense ?
Let me start with some explanation on dutch taxes.
Part 1: BPM
Besides VAT (a lovely 21% not unlike other EU countries) we have a special extra tax called BPM on all cars, it is emissions based, payable only once upon registration of new vehicles. On new petrol cars it's almost 40%. So a new L405 RR SV Autobiography V8 Supercharged would have a base price of € 168.000, plus 21% VAT at € 35.500, plus this BPM thing at € 75.600, to get to a grand total of € 279.100.
For a modest L405 HSE TDV6 diesel, the amounts would be € 82.600 for the base car, plus 21% VAT at 17.350, BPM at € 30.300, to get to a grand total at 130.250
Let's forget new cars for now...
Part 2: Yearly road taxes
It is weight based, for all cars. On a 2,5 tonnes FFRR it will be € 1.600 yearly for a petrol engine, and € 2.800 for a diesel model. In order to get to a break even point between diesel and petrol, the yearly difference of € 1.200 can be "won back" by paying 30 ct less per litre on diesel vs. petrol. That means 4.000 liters yearly to be bought, so only after approx. 30.000 kms per year the diesel trip gets cheaper. No good for me.
Part 3: The ownership tax "Bijtelling"
For anything but hybrids, the famous Ownership tax for the use of Company Cars is 25 %, as a virtual addition to your salary, on which you'll have to pay roughly 50% income tax. So the RR SV Autobio would mean 25% upcharge to your income, that's a virtual € 70.000 being taxed at 50%. Net monthly cost at 50% is €70.000 * 50 % * 1/12 is € 2900...
Yes, this applies to ALL CARS, even a 14 year old FFRR would get a hit at roughly €130.000 new value in 2003 x 25% Ownership tax is € 32.500 yearly...
The Good News....
After 15 years the rules change, and the Ownership tax calculation is based on economic value. You still pay the yearly road tax, rest assured. In the FFRR case, let's say € 5000 purchase for a 2002 model, although the tax % goes up anotch to 35% - still only € 1.750 yearly versus the € 32.500 as above.
And that's why I bought the RR 4.4 V8, built in Solihull in August 2002 - so let the games begin this summer when the Grand Old Lady turns 15 !!
The rebuild
With my apologies to Dan@Duckworths, I was not aware of his site sponsorship details earlier, but I ordered parts deal after consulting with my local indy - who did the full engine rebuild - at Island 4x4.
This is what we ordered:
Timing chain kit
Cylinder head bolts
Head gasket 1-4 and 5-8
Drive belt alternator
Gasket cylinder head
Viscous coupling
Water pump
Timing tensioner Camshaft cyl 1-4 and 5-8
Tensioner pulleys
Various other seals, gaskets, O-rings
and at German supplier autodoc.nl
Tappets
PCV valve kit
Thermostat Behr 88 degrees
Bosch battery
plus Vanos rebuild at specialty shop Offenga.nl
plus Gearbox rebuild at ZF specialist Transmissies.nl
Total parts:
Parts at Island 4x4 as above: € 1130 / GBP 975
Parts at Autodoc.nl € 650 / GBP 560
Vanos rebuild € 250 / GBP 290
Gearbox rebuild € 1050 / € 903
Cosmetics kit at Powerful Uk (grille, side vents, lights) € 480 / GBP 387
Used set of 20"alloys € 500 / GBP 430
TOTAL PARTS € 4.060 / GBP 3490
TOTAL HOURS : 107 hours at € 55 is € 5885 / GBP 5061
Cost of base car, with engine damage, € 3.500 / GBP 3.010
GRAND TOTAL € 13.445 / GBP 11.562
Was it worth it ?
WRONG QUESTION !! JUST HAVE A LOOK....
Mark Offringa
Utrecht Netherlands
2007 L322 / 3.6 TDV8 / Vogue / Java black
2002 Mini Cooper / 1.6 116 hp / Red + white roof / the magic back-up
Gone:
2002 L322 / 4.4 V8 / Vogue/ Adriatic blue
2000 Audi A6 / V8 4.2 / Brilliantschwarz
2003 L322 / TD6 HSE / Adriatic blue
Why would a complete rebuild of an almost 15 year old FFRR make sense ?
It absolutely does make sense here in the Netherlands!
Just spent a lot of money on my Jan 2002 4.4 V8 FFRR for the exact same reason.
Maintenance on a company car is of course tax deductible and we know maintenance is something a FFRR really likes.
Those are some impressive new car figures, and I see your logic in buying an older Range Rover, but the question I have, is why you didn't buy a low mileage 2002 car (running condition) for say twice the price of the damaged engined car you bought. Would the low mileage car be comparable in price to say U.K.? Here, I would think you might happen upon a 2002 car here, in fine fettle, and say 70,000 miles for less than £7000. Would this compare? Here for a 2002 car, we would pay under £300 a year to use on the roads. (Road tax)
I totally understand your reasons, and I sort of did a similar thing here in U.K. I bought a non runner car, (cheap) and fixed the engine myself, with a timing chain rebuild. Car still good now at 170k. (Miles) that was bought at 140k etc.
Had a little holiday break in our camper van last year in Holland. Took the bikes etc, cycling there was best I've ever experienced. Although the blooming mopeds get you annoyed, using the lanes etc.
As confirmed by defenderr, I am not the only one dutch guy who is aware of these tax rules.
So the 2002 models with very low / extremely low mileage are not only hard to find, but also outrageously expensive, up to € 15.000 / GBP 13.000. Often imports with lovely stories, like elderly swiss gentlemen, only driving around town during 15 years etc... this is then marketed as a "youngtimer" by the more creative dealers.
Mark Offringa
All my spelling errorz are belong to me!
Mark Offringa
