TL DR: Selling Bad $3000 1998 XJR for ~$1000. Is that a good price?

Hi everyone, I just bought an old 1998 XJR Supercharged V8 in the beginning of April and I'm looking to sell it now. When I bought it, the private seller told me the the engine coolant tank needed to be replaced, but other than that there were no big problems. He said it was an inexpensive fix, so I bought it for $3000 and put about $500 in fixing it. After fixing it, more problems arouse with the coolant system and I took it in again. The mechanic who I trusted said that the head gasket is most likely the problem and would need to be replaced down the road. Just a few days ago as i was putting coolant in the tank, I noticed that none of it was puddling up and was going straight down the drain. I checked the dipstick and it of course was a shade of milky brown. So now i figured that the head gasket was going bad and decided to get rid of it as soon as possible. I got it for $3000 with no warranty and it is actually in pretty good condition. The interior and exterior has very little wear and damage. Only thing wrong with it is the head gasket. So what I need help in is the asking price. I will include in my CL ad that the car needs a new HG. I'm not trying to trick anyone. I got it for $3000 and factoring in the couple thousand it will take to fix it, I think anywhere between $900 - $1500 would be a fair price. I live in a nice neighborhood in Bay Area, CA. It's a very cool looking car with black wheels and very tinted windows. What do you guys think I should ask for? Do you think I can sell it?

 

Sure, you can sell it. It's worth that as a 'parts' car. The 'shine' is worth $500.

I would probably take it for restoration if it was 2,500 miles closer. The problem is that these cars, and especially those that have significant engine problems, need to be owned by hobby mechanics. There is no reasonable economic path through paying someone else to do the work.

 

To be totally self serving, if it's as nice as it looks in the photos I'd probably give you a grand for it and tow it back up to Sacramento.

If you're not in a hurry to sell it, I think you could probably get another $500 or $600 for it. If you want it gone tomorrow, $800. That's just based on what I've seen locally over the past year or two.

 

Sameguy is spot on- I would also be VERY tempted if you were just 4 hours closer.... I am currently on the hunt for a new project...

 

Very nice XJR! I had a similar situation with my MBZ C280 which had a leaking headgasket for the past 6 years. Dumped a lot of oil sealer into the engine but to no avail. Tried to sell it but everyone got scared off when I told them the headgasket leak. The car was worth as much as the headgasket replacement by a MBZ mechanic. I threw in the towel and changed the headgasket myself over a couple weekends. I am happy as a clam for it has been 2,000 miles later and not a single drop of oil leak. It is like a new engine now and will keep the car. I would suggest you do the same to your XJR. I bought all my parts from Amazon.com and costed me about $300 in parts and $50 in tools from Harbor Freight. It should be easier with the XJR for you only have a 4 cylinder head to deal with as opposed to a heavier inline six head. I pulled the head off with my bare hands and had a neighbor help me reinstall, all without a hoist.

 

In case anyone cares, this car is up on SFBay CL at $1750.


Too rich for my blood, but I think a reasonable value for someone who has the time for the repair.