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Saw this today and thought I'd share with the group. Rather expensive at $90K though. This dealership also has a new XKR final 50 for about $150K and a low mile XKR-S GT again for about $150K.
Saw this today and thought I'd share with the group. Rather expensive at $90K though. This dealership also has a new XKR final 50 for about $150K and a low mile XKR-S GT again for about $150K.
It's barely been driven and a super rare version, so really is it too much? If the dealer paid that much at an auction, must believe there is a buyer for it somewhere for that money.
My kid who lives right outside of Seattle just sent me this listing like an hour ago, asking if it was Too Much.
I said, "oooooh, yeah."
Originally Posted by jahummer
It's barely been driven and a super rare version, so really is it too much? If the dealer paid that much at an auction, must believe there is a buyer for it somewhere for that money.
Yeah, too much. How does scarcity affect value, for real? Tangible reality. Sure, someone may WANT it because More Rare, but does rarity By Itself actually have value? Nah.
Well well, very nice looking car. Dealer purchased it from the Manheim Riverside Auction last month for $66,500.
Quite a markup!!!
Let's see how long it sits on the floor and bleeds carrying costs before they drop the asking price. I don't blame them for trying to hit a grand slam with a 35% markup, but buyers for that XKR-S are few and far between. My bet is that if they still have it after 3 weeks, they'll knock $10K off the price to move it. Time is money, and it's always better to sell it at a small profit than send it to auction.
The seller, Bellevue Land Rover, is also a Jaguar dealer. So, why isn't it being sold as a Jaguar CPO? That would make it more marketable.
Although it's a 2015 model, it was first placed in service on 1/23/2017, so it's still eligible to be CPO'd, unless something disqualified it such as an accident. Maybe that's why it wasn't sold earlier - was it being repaired? But there's no branded title. From the CarFax, it appears to have been repo'd because it was sold on 11/20/2020 by "Financial Company" to an auto auction. And not a single service record in over 3 years of ownership and the oil should have been changed. Sure, it has less than 3,000 miles, but what if it was driven only on Sundays, a quarter-mile at a time?
Just too many unknowns for my liking, especially at $90K. Pass.
Carfax is well known for being useless most of the time, often lacking the majority of any detailed information or history so I'd hardly go to them to make any decisions. Shouldn't be too difficult to locate any main dealer service history either...
Carfax is well known for being useless most of the time, often lacking the majority of any detailed information or history so I'd hardly go to them to make any decisions. Shouldn't be too difficult to locate any main dealer service history either...
CarFax is useful only for deciding to NOT buy a used vehicle - as in the case of this 2015 XKR-S. CarFax must never be a factor in deciding to buy a vehicle, as it's unreliable and often incomplete and misleading. The only thing that a "clean CarFax" is useful for is to enable a salesperson to con you into buying a used car. Don't fall for their slick TV ads with the Car Fox. They're selling snake oil.
CarFax admits that its reports are useless, because (1) you can't rely on them and (2) you assume all the risks. This is an excerpt from their Terms of Use:
" 9. ... CARFAX DOES NOT MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE SITE, OR AS TO THE ACCURACY OR RELIABILITY OF ANY CONTENT, INFORMATION, SERVICE, OR MATERIALS PROVIDED THROUGH THE SITE. As a provider of interactive services, CARFAX is not liable for any statements, representations or information provided by its users in any public forum or the Site. ...
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it was sold on 11/20/2020 by "Financial Company" to an auto auction. And not a single service record in over 3 years of ownership and the oil should have been changed. Sure, it has less than 3,000 miles, but what if it was driven only on Sundays, a quarter-mile at a time?
Clearly this car was an afterthought for whoever owned it, sure they had it stuffed in a garage full of many other beautiful cars! An assumption of course, but why service a car that is a museum piece and you know will be rotated out of the collection. Or maybe an estate situation.
LIke mosesbotbol said, when a lease is turned in to a dealer the company that owns it is the leasing company, they in turn sell it at auction. When I look at auction results for various vehicles, especially high end and car brands that have their own finance branch, it shows as brought to auction by them. For instance, looking at BMW's, you see a ton of BMW Finance vehicles being sold, the heaviest volume of course 3 years after a model year. Through 2020 the 2017 lease returns have been hitting the auction lanes. Been a long time since I had my dealer's license, but I recall here in the Tampa auction house Ally Finance had it's own dedicated lane they had so many cars to sell.
I agree, it is very strange that they wouldn't CPO the car, seems it would make it more attractive to a buyer. As far as them lowering the price, never put it past a dealer to be completely stupid. I was trying to buy a car earlier this year (undisclosed so we don't start a useless debate on whether that brand is good or not) that was listed for $79,000. I had watched it on the dealers lot for 12 months at that price without being lowered. I offered $70k, the dealer wouldn't budge. Then I noticed that the mileage in the pictures wasn't the same as a recent video, figured the owner or GM of the dealer was using it while on the lot. No wonder they weren't in a hurry.
You and I and everyone else are speculating about the history of that XKR-S because there simply isn't enough information available. Do the few facts on CarFax support it being leased? It was placed in service and titled on 1/23/2017, title was updated on on 10/15/2020, and sold on 11/24/2020. If it was leased, the lessor got the title on 11/23/2017 - why would the title need to be be updated? And why wasn't the car turned in after 36 months, which is a typical lease term? It was owned for 46 months, which is weird unless it was a 48-month lease and turned in early.
What am I missing?
No need to answer, because I asked those questions just to point out the unknowns that can arise out of a "clean" CarFax.
For Sale - Near new XKR-S in French Racing Blue.
. It is beer o'clock for me.