Chile and the continuing South American naval race

How useful would transferred Invincible-class battlecruisers have been to Chile after 1919?

They could have been very useful, because the proposals belonged to the continuing South American naval competition and must be judged against Chile's opponents.

The proposed British battlecruiser transfers belonged to the continuing South American naval race. The offers were one episode in a recurring regional competition rather than an isolated disposal of surplus ships. Two Invincible-class vessels could have provided Chile with a substantial advantage, but their value has to be measured against the ships fielded by regional opponents. An older battlecruiser could remain valuable in that setting even if it compared poorly with the newest European capital ships.