How does a car that cost upwards of $60k when new loses its value at over $1000 per 1000 miles driven? My 2007 Jaguar XK with only 29,000 miles (with technology package and aluminium package) even with excellent condition selected shows up with a trade in value of under $15000 on KBB blue book? What is it that KBB knows that we dont?

 

It's that depreciation that has allowed many of us to own these great cars, and it's no different than any other luxury brand for the most part. And remember, your car is now 12 years old, a centenarian by automotive standards, so the market for them is limited by people's fears of high deferred maintenance and repair costs. Just enjoy your ride.

 

+1^^^^^^^^

 

Because wear and deterioration is not measured by mileage alone.
Metal, plastic, rubber, leather, paint, seals, fluids, wear with time without a single mile put on them.
Also when a car goes out of warranty its valued less for obvious reasons.

I still cannot believe you traded a new car for this car. Or for $30k.

 

This car had almost no depreciation.
It was probably purchased for $30k 3 years ago.
And traded for your $30k 2017 370z after enjoying it for 3 years.

He could probably trade your Z for 2 Jaguars.
This is how car dealers are born.

 

KBB's accuracy is debatable because of (1) the relatively small number of transactions involving 2007 Jaguar XKs like yours and (2) KBB's apparent bias towards providing dealers who subscribe to their publication with low-ball valuation estimates. There are big differences between wholesale/auction, trade-in, and retail values and sales by dealers and private parties.

Fair Market Value is defined as the price agreed to by a willing seller and a willing buyer in an arm's length transaction. You bought that XK because you thought it was worth the price after you did your due diligence. Enjoy your XK for many years and don't be concerned if anyone else says you paid too much. Just tell them to find another one just like yours; they won't be able to because your XK is very rare with Adaptive Cruise and low miles.

 

It's what all or almost all luxury marques do - but only for a while. (Otherwise at 60,000 miles the car would cost nothing.)

To a fair extent it happens with non-luxury cars, just at a slower rate.

 

12 years old LUXURY car. It is too old for people who can afford luxury cars, and too impractical and expensive to maintain for people who can only afford economy cars. This leaves young posers and old car enthusiasts as potential target audience for this class of vehicle, and XK doesn't appeal to young punks.

At the same time, if you like your car, it is good time to buy a spare or two and stash them away.

 

He just traded a college graduate for a retiree with high living standards- but she has low mileage.

 

If depreciation is a concern ......... you're going to have a lot of sleepless nights with a Jaguar in your garage......and that's before you even start to think about what it could cost if something goes wrong with it.

Graham

 

Life's too short to spend your time worrying about depreciation on a 12-year-old car you bought a week ago. Man, give yourself a chance to enjoy it.

The dealer I bought my car from just sent me a "happy two-year anniversary" note a couple weeks ago, and I couldn't believe it had been that long already. I spent the first year or so of ownership understanding its quirks and tweaking it to the way I want it aesthetically but haven't had much to do since but enjoy it. I haven't enjoyed another car as much as I have my XKR. If it's depreciating faster than a Camry, so be it.

 

I agree 100%. Nevertheless, some folks' glass is always half-empty.

 

I bought my just hit 50k miles 07 XKR in excellent condition this year for 21k. I'd have paid no more than 16k for a MINT 29k mile 07 XK Coupe. They just don't bring the money. There are sports cars and some luxury cars that are better than others, but a car is generally a terrible investment.

Luxury cars are horrific for depreciation. A lot of the draw is the prestige of having the new thing with all the hot features in a very NOW package. The older a once expensive car gets, generally the more it costs to own not including depreciation, ESPECIALLY if you end up paying someone to do those maintenance and repair items.

 

You guys are right and it makes me feel a lot better! First, my old car, the 2017 370Z base model with 33k miles was worth about $2k more than the XK on the KBB site but when I saw the XK, its paint and inside (leather, navigation etc.) were far better than my base 370Z and I wanted to experience the car. At first, I got concerned about possible maintenance costs but then found lots of folks on the high mileage thread reporting good reliability and now I am very happy!!!

Its like trading a hot 22 year old that had put on weight for a 40 year old that was still svelte.

 

Exactly what we were trying to tell you....
No one is going to pay big bucks to get the 40 year old (with a champagne habit) off your hands.
But you can enjoy the daylights out of her and beat depreciation.

Also dont do to her what you did to the 20 year old- then you will have to worry about depreciation again.

 

The car is better. Both can cost a lot of money and really **** you off, but the car never talks back.

 

Days like today remind us how inconsequential depreciation is and how fleeting life itself its...
What would Michael Cohen give to be driving around in a Jaguar for the next 3 years.
In reality our lives are depreciating faster than anything in it.

 

 

When I first got my 2010 I checked autotrader about once a week. How was I doing, value-wise??
It's been coming up to three years, and I haven't checked in months. Here's what I know:
It's my daily driver.
It's still got under 50K on it.
I've gotten my money out in terms of enjoyment alone.
Unless a newer, super-low mileage one shows up, I got no plans to sell.
So.... It's worth a thousand, it's worth a hundred thousand, what do I care? It's my car and I'm not selling it.

 

You should have looked at the KBB value before you bought the car. That would have been the first indicator that you got a good price or a great price for the car you purchased and for the car that you sold/traded.