I plan on pulling the trigger on a 2008 XKR convertible I have been chasing. 39K miles, 20" wheels, adaptive speed control, body in great condition. Minor incident on carfax fully researched. Owner wants $26K after a bit of negotiation which I think is fair. I cam up a bit, he came down.

I have test drive this and it is solid. So, this appears to be a good deal. Anyone want to talk me out of this. I plan to drive for 2 years then move up and on to another high end car.

Thoughts & recommendations?

 

Pricing appears to be good for the 2008 XKR if in top mechanical condition. Outside appearance is one aspect, mechanical is another. If you fell you have completed your due diligence on all aspects of the vehicle, I would suggest to move forward.

My only comment is keeping the vehicle with the intent for 2 years only. I think in order to make this a reasonable financial event, you should keep the XKR longer. There is very little interest in the Jaguar brand for Xk/XKR and they are very difficult to sell unless your willing to accept a price well below wholesale.

I have my 2009 Jaguar XKR Portfolio Editon Convertible currently listed on eBay for sale and my offers are well below wholesale, and there is no reason to give the car away at crazy low prices.

Think about keeping the 2008 XKR longer, unless you have deep pockets and don't mind losing money down the road in 2 years. The market for these cars are very thin indeed.

Best to you.

 

Thanks Richzak, I appreciate your insight on this. I imagine I will want to keep this, but figure that I will put lots more mileage on it past 2 years and it will be even less attractive (price-wise that i, the beauty of this car is timeless).

These are initial thoughts. Initially I was concerned about the expense of registering/paying sales tax more often, but you have added another financial consideration that may factor into that equation.

My goal is to own, experience, educate myself about many high end cars in the next 10+ years. Up until now I bought all my cars new and kept until they were no longer sustainable. I'm starting with the Jag...and I will probably have to pry it away from myself given everything I have already learned about it.

 

Agreed. You are taking a 5-7% hit just on sales tax. Unless you are paying cash, you'll be upside down two years. Not bad thing per say. The other thing is your prospects are limited outside of trading it in depending on your locale.

In MA, I would not feel comfortable selling any car out of warranty; never mind a 10 year old Jag.

Personally, I would rather have a 2010+ XK over the older XKR...

 

The sales tax is paid upon registration (transfer for me) in MA. No sales tax from selling party. We are still talking about a grand and a half expense that should be considered.

I have a few local high end car dealers who take Jags in trade for more expensive cars so that is also an option.

We have 30 days on a lemon law so holding funds on a sale for 30 days and proper documentation will be paramount when attempting to sell.

Funny you mention the 2010+, it was on my list and my preference.. but did not fit my budget. The 2008 to 2010+ jump would be a good upgrade in a few years don't you think?

 

Did not realize you were from MA until now. You'll get beat on any trade-in, no matter who you are trading it to. You definitely don't want to try private party to sell an XK or any high line car in our state unless warranty. They can thrash the car, give it back to you, you pay them back and you're stuck with a broken car. Laws here are really set in the auto dealer's favor.

I remember trading in my XK... That was close hair cut, not too bad though. CarFax will come back to bite you as well. My Lotus had something on the CarFax that was like nothing until you trade it in...

Can't you buy a 2010+ XK for that kind of money? 20" are going to be costly to own in MA too. I turned down a '13 XKR just on that alone.

 

2010+ XKR's are above the $30K mark in my research... so they are off the table for my first entry into this market.

A few years from now I would take a slight loss and the sales tax hit. I figure it is a small price to drive something like this... so long as I can replace it with something faster, nicer, etc. with a little more cash.

I was looking for an under 36K miles car.. do you think there is a big difference in trying to sell a 50K mile vs 60K mile vs 70K mile sample? That might change my future plans.

Also, a few off topic local questions. Is there a Jag mechanic in the are you would recommend in the event I run into anything over my head?

Are there any Jag events or clubs in the area (regional) that you regularly attend? This may help my effort to educate myself about the brand.

 

There is a local Jag club, but it's not very useful nor are they friendly. Samuels Jaguar Motors in Brighton, or Brookline Jaguar-BMW are the two big indy shops around Boston. Higher miles are going to tougher to sell on private party, along with the general age of the car. It's going to be a 10 year old car when you sell it. Think of a 10 year old XK8 at this point... Not worth much.

 

Unfortunately I have to agree with several points here. The mileage and the car fax are going to have a big impact on resale. I would not buy this car with the intent to resell it in a couple of years unless you are okay with taking a big hit on the value, with 70k miles in 2 years the wholesale value is probably going to be around $12k. If your goal truly is for resale in 2 years, then you should look for something with very low miles and clean carfax.

 

If you're going to add lots of miles maybe start with a high mileage one.

 

Hey J. Sounds like your mind is set.

Everyone's comments are similar and valid. You will take a hit buying that car and reselling it in two years.

The XJ's fall off a cliff after a decade, regardless of mileage.
The XK's hold their value better but still...plan on a bigger loss than you're anticipating. The market is very small. Don't be afraid to go national either.

Also, consider Richard's comments. His car is top flight, top of the line and by all accounts immaculate, yet he continues to get lowball offers.

Consider stepping down (07) if you plan to unload it that quickly. You'll still take the hit but your initial investment will be lighter.

There's no right answer here. Your heart is talking you into buying. The math says otherwise but rarely does a car pay off as an investment.

Your talking to fellow enthusiasts and it's unlikely any of us responding would buy the car from you 2 years down the road the the reasons mentioned. Hence, plan on taking a bigger hit than you're anticipating.

 

A used Jaguar needs to be bought with funds, that if say, a glitch caused your bank account with those funds to be irreparably deleted, you'd move on just fine with life.

Perhaps an exotic car rental club might fit your needs better? This way you don't have to go through the buying/selling process.

 

J5hort have you considered something that is along the same bloodline prehaps a v8 Vantage or do you need your vehicle to come in a 2+2 configuration

 

A Vantage would have less depreciation, but higher running costs. Local dealer is $150 an hour.

 

Jshort, if that is what you want go for it, car ownership is a loser financially no matter what as it is a consumable item that loses value from wear and time. Just buy it and sell it for whatever (or trade) when the time to move on to your next nice car.

General rule of thumb with cars is that the longer the term you keep it the better, but I am not sure that holds true for an 8 year old car. At some point you start to fall into the area of higher repair instances as it ages. So whatever money you save by keeping it longer in an effort to amortize the sales tax or whatnot may be eaten up by repairs.

You question about the 60k or 70k miles, yes, this is a direct factor on the value . You are buying yours at a low cost, how much value are you comfortable losing over two years, $5k? $8k? $10k? No one knows what the value will be at that time so prepare for the worst!

 

So I am getting the depreciation message loud and clear. I appreciate all the input. I hope I love the XKR so much I will not want to sell it.. it has happened in the past. I f I told you that I usually buy new Mustangs and keep for 13 years, you would know the type of owner I am. But it is time to experience better and more.

I have thought about a lease and time share club, but the limits on mileage and overall monthly cost are too restrictive. I have other cars I use in inclement weather, but I want this to be a daily driver and will put some miles on it.

So far as the current price for year, model, mileage. Is this in line with current values? I have done months of research and it appears so.

Steve K, and Aston is on my wish list. I was looking at DB7's but was told DB9 would be a better choice. In any event one is on my list for the future.

I am hoping to buy this weekend...I'll keep everyone updated if they have a new Jaguar owner in their midst.

 

Much is made of that but ANY car you buy will decline in value over 2 years and if you put 30k total miles on the odometer. Might as well lose value on a car you like.

 

Thanks Tampa, I may be a bit immune to this thought as I have been keeping my cars for life and expect no real value at end. This situation may be a little different, but there are very few cars that are worth more as time goes, save classics and rare cars.

To think of it, these cars are close to 100K when new. The fact that I can buy a low mileage one for 1/4 the price speaks to that depreciation. I have noticed that most take very good care of these cars.

I appreciate all the help and responses. Looking forward to sharing my acquisition and new Jag owner story. Stay tuned...

 

Moses, 2+2 is not important. I'm in roadster mode as the kids are old enough to drive and we have other 7 seaters. Just me and the wife at times will be using this one.

I have contact with a owner in state that has a nice Aston for sale. He came up on my search and I started dialog. Just a bit too expensive right now, but says he takes many Jag trades..which might be an avenue down the road.

 

Richzak, I think I remember running across your car on ebay. It is a beauty. I have been watching it but I think it is a bit above my price point...case and point.

I have a few friends looking and will send them the listing...