I’m new to Jags and have what may be a great opportunity or may be the perfect example of the saying “there’s nothing more expensive than a cheap Jag”. I’ve read tons of buying guides and threads, but I’d like a more knowledgeable opinion on this exact situation.



I’m looking at a ’98 XK8 with 80k miles. Overall it looks to be in good shape with the one obvious flaw being the driver’s seat bolster. I’m guessing it was owned by someone who shouldn’t have owned it, because it has a rebuilt engine (with metal tensioners) and transmission (meaning they didn’t know to change the fluid).



After reading the various buying guides, I’m pretty comfortable with the overall potential issues for a non-abused Jag (I’m a former motorcycle mechanic), but I have no idea what a reasonable price is for an XK8 with a rebuilt engine and tranny nor how much more likely the other issues are.


What is a reasonable price and is there anything I should be particularly wary of due to the seemingly unaware owner?

 

IMHO A 98 in excellent condition is a 7 to 8K car, take into account the condition of the car you are looking at and deduct from there. I'd want documentation on the rebuilds.

 

Thanks Jandreu. Any thoughts on how the rebuilds affect the value?

 

I'm not sure it's fair to say the previous owner should have changed the transmission fluid if the car's only done 80k. You certainly can't blame that for a failure.

Do you know the nature of the engine and trans failures? Whilst you may assume a tensioner issue with the engine, it could have been something else?

 

In Dallas, early XK8's range on Craigslist from $3200 - $6500. Cars above $6500 do not sell if they have more than 60K miles or ANY cosmetic/mechanical issues, even minor ones. Being Dallas, all are likely rust free.

I can't imagine they sell for more in New Mexico, as other cars seem to be cheaper in NM than they are in Dallas.

Rebuilt Motor/trans doesn't help or hurt the value on a 80K mile car. But not having to worry about tensioners and a Trans that works 100% helps.

 

Complaining about a car with a rebuilt engine and transmission?....that's a new one...

 

Not really - cars that have had major work done often cause concern about how well the car has been looked after and what other horrors may lurk for the next owner to uncover.

 

And there are different levels and qualities of rebuilds. That always introduces another set of risks when considering a purchase of such a vehicle. As previously stated, get copies of all the documentation before you proceed any further....

 

I tend to agree with Jon89...if you can document/authenticate the rebuilds/upgrades and the car has a recent positive service history then you're literally $$$ ahead.
I recently purchased my '98 XK8 Coupe with 40k for about $10K. It is in near mint condition with an excellent prior service record. I did all the suggested upgrades for about $3K.
I think the numbers thrown around in this thread are a bit low...IMHO an updated
'98 that is in #2 condition w/80k and is currently running well with the upgrades its worth easily $10-12K.

 

I haven't spoken with them in depth yet. I'm trying to have my ducks in a row before I really start diving in with them. If the tranny fluid wasn't likely the cause of the failure, then I wonder what was. Definitely going to have to look into that. I'm pretty sure the engine failure was due to the am chain tensioners, but I haven't gotten official confirmation yet.

Cars are definitely cheaper here, but not always a ton cheaper. Seeing that price range is definitely helpful.

You perfectly expressed one of my concerns. Are there any issues that often come up from these engines or trannys being rebuilt? Anything that is often overlooked or poorly done in a rebuild?

 

Not in Dallas, TX.


$10-12K is XKR Money.


'03 XKR
'02 XKR


similar condition XK8's on the same CL are timing out unsold (30 days) @ $6500.


These cars are all 100% rust free and just have broken cup holders at worst. Cars with paint issues or high mileage are ASKING $3200-$4500 and will probably take less.


People who see my $4,500 '97 Coupe think its a $15K car, but that doesn't mean they will pay that.


Now is definitely the time to buy... but only the right car.

 

I have to agree with Ungn. Jags here on Cincy's Clist are not moving at all. Some with miles 50-90k that CLAIM to be in great shape aint selling. No secret that I have been trying to sell mine (not trying that hard) at like 9k now for some time with all the repairs I have made, not one hit on it in a month plus now.

 

I've seen auction sales in the higher $$ territory, but auctions are not always a good barometer to use. Asking prices at the buy-from-a larger-lot and flip it dealers are also a little high, but I suspect they don't always get the asking price.

Real world for an early model in Dallas area has been presented well by the other posters IMHO. I'm sure I'd be hard pressed to get above $10k for my '01 blue cat, despite the documented work. In fairness, I do have high miles.

I would not be afraid of a rebuilt car as long as the receipts are available and look legit.

 

well I am now listing as MAKE OFFER for mine here locally. Lets see how the open market drives the offers now. Shall report back, if I get offers, ha ha ha

 

A couple other questions. Is there a difference in value for the coupe vs the convertible? I didn't think to mention it, but this one is a coupe.

Also, if it has electrical issues, how much should I take off the value?

 

Dude, good luck.

 

After diving in I've decided not to pursue this particular XK8. The price would be good if there was nothing wrong, but I can't get them to come down enough for it to be worthwhile for me.

On the plus side, there seem to be a lot of decent deals that are only a 1 hour plane ride away in Phoenix. Looks like I'll be expanding my search.

 

Coupes are much rarer in the US. Supply/demand could make them more valuable in the future, but right now they are about the same value for the same condition. There are more potential buyers for a convertible, but many convertible XK8 owners want a coupe.

Electrical issues are scary in an XK8. It appears they could be as simple as a bad ground, but I could see it going south fast if modules need replacing. If I had a flooded XK8, I would strip out everything and just use the shell for a race car, rather than try to live with the gremlins.