I have 97 xk8 coupe... I spend about $24,000+ last year (60,000miles) on my car
- New engine $12,000 (Nikasil problem)
- Full Arden kit

My car was in accident.. However, only the front part was damage (engine,wheels and airbag are fine)

I just find out, my insurance will only paid $1000 for the after market parts... and they told me.. cost of fixing my car ($14,000) is worth more then the value of the car (NADA retail price for 97 xk8 coupe $12,875)

I have 3 Choices

1 Buy used XK8 or XK8 and purchase 3rd party extended warranty.
2 Buy high mile Jag with low price... and buy my car back from the insurance company with salvage title.(and use all new parts)
3 Fix my car and I paid the additional cost.

I don't know how much it cost to buy back my car from the Insurance company. (Someone told me.. 20%-30% of retail price)

any recommendations will be great!

 

I was offered my '00 XK8 back for $3000. Required complete front end but no engine issues. Didn't take it.

$14K for the front end damage as you describe seems a little high. You can buy a nice '00 or later for that money.

Bottom line is that none of the choices are attractive.

 

Hi,
Sorry about your mishap, that really sucks. You obviously like the car and have put a lot of money into it to get it to where it fits your own personal tastes. If it were me, I would keep it one way or the other, either buying it back from the Insurance Company if were cheap enough.............or just paying to have it repaired myself. As Test Point mentioned, $14K sounds high, you could probably get it done for much less. I think that with the Arden Kit, new engine an 20" wheels, it is much too nice to walk away from.........................! My .02 anyway.
Good luck!
Brian

 

Beautiful car, sorry for your misfortune.

Where do you live?

Do you have a photo of the damage you could post?

 

I am going see my car tomorrow for first time since the accident.. I will post the photos..

Lee

 

I live in Atlanta, GA

 

Here's one way to look at it:

If they are going to give you $12,875 as retail, the $1000 for the body kit allowance should be added to that.

My impression is that the salvage buy-back is 20%. If that's correct, you should be able to keep the car and a check for roughly $11,000. That will likely be enough to fix it, but even used body parts are very expensive...and the car will have a salvage title from now until crunch day.

OR...take the check for $11,000, have someone remove the wheels and Arden components, and sell the rest of the car to a guy like me and recoup the 20%. You get every dollar the insurance company was offering, plus you keep the accessories that cost you a mint and can be refit to your next XK8.

The guy like me gets a wrecked car with a salvage title, which is not likely worth fixing. At 60K with a factory rebuilt engine, it's worth the two or three thousand as a parts car.

For me, the transportation cost might push the deal past the point of a good investment. Negotiating with someone in Georgia...hmmmm, Coventry West comes to mind...might get you a decent return on the car. It wouldn't surprise me if they asked $5,000 for a very low mileage factory rebuilt engine, and they could probably hold out until some sucker came along to pay that much for it.

Parting the car out completely by yourself is alot more of a project than most people might assume. Keeping the AJ26 engine doesn't do you much good, as it would only fit your replacement car if it was pre-1999 model year. The $14K in hand will buy you alot newer car than 1998...and the sucker with $5K for the engine might call CW, but he won't be calling you.

If you haven't already heard from them, you should float the idea yourself and get a bid. There's another place called Anthony's that might be interested, I can get you contact info if you want. I think the outfit that bought Testpoint's salvage car has folded. And I'd be a bidder if the price doesn't get crazy.

 

Good thoughts above.

Coventry West was most helpful with discussion on what to do and sorta offered $3k over the phone. I thoughtfully evaluated parting the car out since I wanted the chrome wheels and Michelin tires with less than 3k miles. Even though I have the storage facilities the effort just didn't seem worth it.

JTO, I wondered what happened to the car. It was listed on the insurance auction site but disappeared before the auction date. Figured someone bought it for restoration. There is/was a booming business in Atlanta in high end salvage restoration.

 

I decide not to buy back my car from the Insurance company... (they let me keep my 20" rims. Since, I had factory wheels)

Now, I am looking newer XKR (2000?)...

thanks for good advice

 

Ooops, nevermind.

 

2002 at least...lots of good bargains out there now.

 

It is better to buy 2002 vs 2000... I found lower miles on 2000 cheaper then over 60,000 miles on 2002 model.

Lee