First off, thanks for the forum. There is so much knowledge that it absolutely amazes me.

I have a chance to purchase a 1998 XK8 with just over 100,000 miles. It needs about $1000 worth of bodywork according to a friend of mine who owns a body shop. Mechanically, this car is supposedly sound as the owner has driven it daily since 2004. The interior is worn but is repairable. Best price I can get it down to is around $6500. I understand the inherent risks of purchasing any brand of car with 100,000 miles but I'm wondering if this car is within my grasp. I'm not a mechanic but if changing wiper blades is a 1 and putting a new motor in is a 5, I would say I'm somewhere in the 3.5-4 range. So most of the repairs could probably stay "in house" and save me money right?

I honestly don't know what answer I'm looking for. Half of me is hoping I get talked out of it and the other half is so dead set on owning this car that I won't heed any warnings. I guess my biggest question is whether or not the car is worth the money?

Thanks in advance for your input. I'm fairly certain I'll be a continued member as I'll throw caution and common sense out the window and own this vehicle by the weekend.

Matt

 

Sounds like you have the skills and attitude necessary to own this car and enjoy it.

WIth the body damage I think it should be under $6000, and you might be able to find one with lower mileage and better condition for about the same dollars. But if your heart is set go for it and have fun....it is not that far off the mark pricewise.

 

I love your 1-5 mechanical ability scale. Sounds like we are both about in the same place. I grew up working on TR-3s and owned a '75 Avanti (SBC) for 25 years. I have had my Jag since last Oct. With every small project that I do, I feel more and more confident with my ability to keep this thing running. Just put away your 1/2" ratchet and sockets and get a good 1/4" metric set.
My suggestion with the car you are thinking of buying, would be to add another few thousand to the $7500 you are thinking of spending ($6500 + $1000 for body work) and you can get yourself a very nice car with lower miles and well maintaining. You will have to look, but they are out there. My car is a 2000 MY, had under 55K miles and a great maintenance records from Jaguar, garage keep and driven by a 'little, not that old, lady'. I bought the car for $11,500. I think it was a good deal, not a great deal. Keep in mind, that if you car needs tires you are looking at $1000+. It would not be hard to run up a few thousand dollars if there are any problems.
Good luck, and remember you will never find a better looking or better made car for the money.

 

I agree with spending slightly more and easily obtaining a 99 for closer to 70,000 miles. That said...

Another can explain better but I will tell you if those timing chains have not been upgraded you absolutely must upgrade them and that will be at least a few grand. With your skill you may know how to open the area necessary to view them and not have to pay a mechanic to tell you.

Good luck.