I love my '99 convertible with 191,000 miles on it but...
I need to replace the rear shocks and rebuild the front end, replace a power steering hose and get a repaint. If I proceed with what I want to do I will have spent about 4x more than the car is worth. Even without the repaint, it will be almost 2x the value.
Sad reality.

 

Just go Rat Jag drive it till it blows up or Rust kills it Or!! do the right thing and invest in it and get another 5-10 yrs in the best looking convertible under £50k?

 

Sadly, we all reach a point where the cost/benefit charts no longer justify keeping the vehicle. I have an economics background and my financial algorithms compel me to get rid of them when the charts turn from green to red. I remain happy that both of our Jaguar charts remain in the green for the time being....

 

If you want to really get depressed about the cost/value then work out how many $$$ the 191k miles have burned.

The real question is does it still give that tingle when you open the garage door and feel good as you're driving down the road? If so, that's priceless.

Graham

 

+1. I agree Graham. If you live life on the bleeding edge as an actuary, you would never buy a used Jaguar in the first place . . . the cost benefit analysis would compel you toward a Skoda or Subaru instead . . . or, wait for it . . . a 10yr old Volvo!



Some 50 years of experience with these cars has taught me the value of meticulous maintenance. The Mk1 in my avatar managed over 400,000 miles. Our Series1 E-Type lived a blemish free life and, only now when aged 50+, is undergoing a ground up restoration. I look back on all that sage '80s & '90s financial advice to get rid of it . . . and laugh my head off.

But then, what would I know? I am still recovering from this week's news that some clown has just bought a 500yr old painting of some woman you wouldn't look twice at . . . for nearly half a billion bucks! Now there is some poor schmuck who seriously needs financial advice!

Me? Yes, like most, my drools are limited by budgets . . . but I'll stick with passion vs profits any day.

Cheers,

Ken

 

the definition of a business investment is some activity that you expect to profit from financially. The definition of a hobby is some activity that you do not expect to profit from financially. Owning these cars is a hobby. Hobbies cost money. Is the hobby worth the cost?

 

Financially maybe not. Emotionally/psychologically.... yes for me, no for some others.

I try to be sorted out financially enough to make occasional emotional (irrational if you like) choices.

 

Just move those maintenance costs into the "entertainment" column of life's expenditures. Problem solved.

 

"Worth" is not the market value of the car, but rather the feeling you have toward it after you've spent the money.

You clearly get the Jaguar mystique, or you wouldn't even be considering these repairs. So the real question is whether this particular Jag is "worth" more to you than the Jag (or maybe one or two alternatives) you could buy for what you could get for yours "as-is" plus the cost of the repairs you would do if you kept it.

Just add up what you think you could get for yours (better cut that in half) plus the repair cost, and then look through all the usual internet sites for Jags selling for that amount or less. Ask yourself, "Would I rather have that car than mine restored?" Be sure to factor in the adventure of flying to Dallas or St. Louis or... Vancouver, and driving back across country in your newest heartthrob.

On the other hand, if yours is the car in which you first kissed your wife or it still has the dent from the tricycle driven by your son who was killed in Afghanistan, then you might well consider it "worth" repairing at any cost.

BTW, considering your title for this thread, note the tagline on my signature...

 

Im withthe other fellas on this one.... my father growing up was and still is a corvette enthusiast... he spent lots of time and money restoring corvettes and later sold them after the enjoyment for that car wore off.. he lost money on most of them but never looked back.. it was always about the hobby... I recently purchased an 05 xkr and always had a love for the cats... my big cat is in awesome shape but has 107 thousand miles on it... it will obviously never come near the price it was stickered at in 05 but in my opinion its one of the sexiest rides out there... it will be a classic one day u cant put a price tag on the looks along with the feeling you get while driving it ... if you have the play money dont look back its about the hobby

 

Seeing the repair list, rear shocks and a power steering hose to keep her on the road safely do not seem terribly expensive if you are a do it yourselfer. I pulled the whole rear end changed shocks and all bushings, had it sand blasted and powder coated for under $800.00. The paint is a nice to have. I am dreading the day when reality forces a decision like this on me, but hopefully it is because I am 85 years old and can't get out of my 2004 XK8. I am often asked about my car and I tell everyone unless you are able to do some mechanical work yourself this is not for you, but that is true of every 15 year old car that cost $80,000. Having said that after doing all of the routine maintenance I have driven my car as a daily driver and long distance chariot with no more trouble than my wifes Elantra.
The biggest thing though as I tell my wife we do not have 3 cars, we each have our daily driver and I have a gobby, just like somes guys have a boat or like wood working. Even though it is winter here and the XK8 has been quieted I still enjoy going out in the garage and doing little maintemance things. Even under the car cover that has to ne the sexiest shape a car ever had. If you don't feel that way about yours move on and get some new transportation.