Preople are so impressed with our car. What a great combination of sport and luxuary. Also,you, rarely ever see any around. I don't understand why the value doesn't match the beauty and rarity of the car. Although I am glad the price was low when I bought it!

 

If you asked them how old it is, I'll bet they'll probably think around ten years younger than it actually is.

Used values has a lot to do with reputation, perception and misconception.

Ask anyone who has never owned a Jaguar and the three 'facts' they will usually respond with are:

1. Jaguar = poor build quality
2. Jaguar = mechanically unreliable
3. Jaguar = expensive to run / maintain / repair

This was true in the 1960's and got a lot worse in the 1970's.

Sir John Egan started to turn the company around and Ford finished the job with massive investment.

Despite this massive change in design and build quality, the old reputation still holds in many peoples minds and makes them steer clear of used Jaguars.

Granted, Jaguars aren't cheap cars to buy new and maintenance costs will always reflect this throughout their life. However, we all know that a well maintained XK8/XKR with the tensioner, transmission and cooling system weaknesses taken care is a reliable and enjoyable car to own.

Whatever you do, don't tell anyone how reasonable our cars can be to buy and run. They'll all be going out buying them and prices of our low cost fun cars will go through the roof!

Graham

 

I second Graham's directive - keep quiet about how reasonable these cars can be if you find the right one and DIY the maintenance and repairs. Let the public continue to believe that "Jaguar" means unreliability and great expense!

 

Luxury car resale values sink like a rock because people that shop in that arena don't want to be perceived as financially weak driving a two year old luxury car when their friends all drive brand new luxury cars. Financial perception sells a lot of expensive cars. These buyers are addicted to the latest and greatest even if the car is hideous to look at. Brand new luxury cars (not tarted up everyday cars) are expensive and exclusive but become used cars very quickly. It's expensive to keep up when you're supposed to be a high roller.
At this point potential buyers of used or in polite circles previously owned automobiles like Jag, Benz or BMW loose their way. These buyers generally have less disposable income than the first owner and have been told of reliability issues, service costs and even insurance rates and back away. That takes a very large group of buyers out of the market which means that some remarkable cars could sit unsold for quite some time. That kills resale and trade value. Besides who wants to be seen in yesterdays ride when shopping on Rodeo Drive?
Enter the motor head. A certain smile shows on their face as a beautiful and well kept older car drives by. Many of these people can afford to shop for the latest and greatest but prefer classic lines over gadgetry or image. It is us that takes advantage of massive depreciation suffered by the cars first owners. I always enjoy driving an older car that looks like a million dollar ride that I bought at discount store prices. Will we loose when we sell? One never knows but if we do it won't be like the first owner did.
RB

 

I'm always being asked what year my 02 XK8 is and usually asked is it new? I've also kept an eye on the prices of our cars on ebay. When I started looking for mine a year ago, I saw plenty available for under 10k, even in the 5-6k range. I've watched a steady increase in prices and the same cars, condition and mileage are starting around 10k and getting in the mid teens and even later models now in the 20k.
There are still a few in the 6-9k range but far fewer.

 

Phil,

You are the exception.

Yours IS new because you've practically rebuilt it from end to end!

Graham

 

I would agree with Phil, prices have definitely firmed up as there seems to now be a bottom and far fewer cars available at that bottom price. I do, however, disagree with the notion that Jaguars depreciate at an unusually steep rate. If you look at BMW 6 series cars, their depreciation is at least (if not more) as drastic as XK8/R, and there are plenty of other examples in the Mercedes and Audi lines let alone traditional American luxury lines such as Cadillac and Lincoln. Only Porsche (and only certain models such as the 911) appear to hold their value better and longer. As Jaguar's innovation, reliability, styling, and performance parameters continue to improve, and the public's perception of such, the severe depreciation will ease.

 

I just did a little research on Auto Trader, As of today, 1997 - 2006 XK8's there are 328 for sale nation wide (USA) with only 30 under 10 grand. They do range from $4790.00(188,000 miles) to $28,995.00(21,000miles) 2000- 2006 XKR's there are 82 available low $11,588 (100,000miles) to $39,900 (34,000miles) This particle car, a coupe seems high when there's a victory edition coupe with 10,000 miles for $32,500 the next two highest price XKR's convertibles $34,900 with 11,000 and 22,000 miles. I think from last year the values have increased. As used luxury cars They are still a good value especially if you can maintain them yourself.

 

It is because of the timeless look these cars were blessed with...

 

When I look in the garage, I think exactly that.

When I look in the mirror, I wish it also applied to the driver.

Graham

 

Hi GGG

What is wrong with your mirror? You can get a new one fairly cheap!

 

Being new to this forum and first time Jaguar owner I have found the car to be a great value for it's looks and engineering. I am asked quite often what year is my car and when tell them they are amazed. even more amazing is when asked the mileage they find it hard to believe. 100K. It was a well maintained car so I benefitted from the previous owner. I am now shopping for a slightly newer coupe so I have a set of bookends. I also prefer to find the same or similar color. So in closing the cars are a great value , timeless lines and lots of fun to drive. One last thing, I am lucky to be able to fix and maintain most issues that might occur. I could understand the repair issue.I also own a Mercedes C-300 4 matic. So cost of repairs I uderstand.

 

Don't worry. When the driver in front of you sees you in their mirror, I bet you look much better sitting in that Jag.