Recently, two good looking XJRs have popped up in my general area.

Car 1: 2002 XJR
Car 2: 2005 XJR

I test drove Car 1 yesterday, and hope to drive Car 2 next weekend. Both are low miles, clean CarFax'd, and present very well. (Car 1, which I saw yesterday, has aged very well especially. Only minimal paint correction work needed and interior is near mint)

So at glance, both look to be promising candidates. But I need a sanity check on the money side. Am I crazy for thinking these two dealers (both reputable as far as I can tell) are asking way too high a price for these? I mean, I get that KBB can't factor in 'enthusiast/nostalgia factor' into their algorithm, but KBB lists 'Private Party' values around $10-11k for both cars. Nearly $30k seems way too high to me.

Am open to thoughts/input!

 

I personally like 2005 more as it will be faster, newer, and has fewer miles. But value-wise; used car prices are much much higher than book value. You can't find a functioning used car under $5k. Some 2-year-old cars are selling for their original MSRPs now if not more. So how can you trust KBB for a performance luxury car's value? A better guide is past completed listings or current listings. With that being said; if I can avoid buying a car in the current climate; then I would wait. But if I had to buy one; I would offer in the low 20s for 2005 and ignore the X308 altogether unless you value that style (in which case; I wouldn't exceed 20k and 15k sounds reasonable). The worst thing that can happen is the seller says "No".

 

The question leads nowhere because no matter what is the opinion here, it will not impress the seller. In my experience, the pro sellers have a good sense of the value of a vehicle, it is their daily business. And fantasy prices lead to long standing times, no one is interested in that.

I bought my 2009 XJ three years ago for peanuts under asking price because that's exactly how I wanted it. If I hadn't, I'd still be looking today.

Cheers

 

Good point re: waiting out the market. In truth, I know I don't have to buy right now. The fact that these two cars are (mostly) local to my area gives me a great chance to drive both the X308 and X358 back-back, and in supercharged trim too. Last month, while taking a short holiday to the LA area, I spotted a non-SC 2007 XJ8 on a dealer lot just down the street from our hotel. I took that for a quick spin as well and was impressed. So I'm dying to see how much peppier the supercharged engine will be on that platform.

As for style, I honestly love them both. Though I will admit that the first comment that both I and my wife made upon getting in the X308 yesterday was "wow this cabin is tighter than the 2007". Not unbearably so, I think, but definitely noticeable right away. I have a hunch that, after driving the 2005 that I linked above, we'll be leaning more towards the X358 platform for the remainder of our search.

 

Only you can decide what something is worth to you. The used car market is so disrupted right now it's hard to say what the fair value of any car is. Just be aware that any 18 year old luxury car is going to need a LOT of maintenance regardless of condition or mileage so bank on $3000 to $5000 a year for that.

 

To put this in perspective, my 2005 Jaguar XJ8L has a Kelly Book Value of around $6,000 with 122, 400 on the odometer. Yet, the car is in first class condition both electrically and mechanically.. In fact, and only a few months ago, a local auto repair shop had replaced all of the control arms, bushings, bearings, etc. on both the front and rear end of the car. In addition, I also purchased a brand new set of W rated tires for the car to boot. Actually, I can guarantee you that you won't find any of those Jaguars being sold by the two dealers as being anywhere near the shape that my 2005 Jaguar XJ8L is in (electrically, mechanically or otherwise).

To put it another way, I suspect that both of those Jaguars were trade in vehicles, and people simply aren't parting with their used cars because they're working. Actually, those two Jaguars likely have major issues with them that haven't been resolved.

So what would be my recommendation to you? Let the dealers keep them.