Good morning everyone!


Just joined the forums today, after perusing through all the threads. Lots of good information here. I'm a young person who happens to really enjoy full size sedans. My tastes go against popular opinion of others my age, since I don't really care for Mercedes, BMW or Audis. Japanese cars are even less appealing to me. I love the look for the Jaguar XJ and have my heart set on it as my next car!


My current car is a 2013 Chrysler 300, base model that I purchased new for $23k. It's my baby and after 40k miles, has given me no problems. Being a recent grad, you can imagine even a 23k car pushed my 50k salary to the max in terms of budget. I can't afford another car right now, after going through a period of unemployment and have to work on building up my savings again.


With that said, I've always looked forward to planning for the future. I LOVE how elegant and sophisticated the XJ looks. I can only imagine what it drives like. My favorite detail of this particular year model is the diamond stitching on the seats. (I admit, I have a habit of prioritizing appearance).


I'm estimating that my budget for a new car in a couple of years will realistically be 40k MAX. Ideally, I'd prefer around 35k.


Taking this into account, how long do you suppose I'd have to wait for 2016 models to reach that price pre-owned? At what mile range do you suppose they'll be?
I have never purchased preowned before, so are there any specific things to look out for when shopping for preowned Jags?
What kind of interest rates can you get for Jaguars? My parents can get 0.99% with Honda, but the lowest we could get with Chrysler was 2.99%
Do you recommend purchasing certified?


Lots of questions, I know. I researched Chryslers for a year before purchasing it, but information on Jags seem a bit more sparse. This may be due to their smaller presence in America? Why, I can't fathom, I love how they look.


Any advice would be greatly appreciated! Thanks for taking the time to read!

 

Standard or long wheelbase, engine choice and options you want will all factor into the new, and therefore used, price. A few good ways for determining when your dream car might fall into your pricerange: First is to price out a new 2016 the way you want online then figure in depreciation. If you take a look at their leasing options you'll see that for a 39 month lease there is roughly 46% depreciation. For the next couple of years after that it is probably 7-10% of the original price per year then closer to 5-7% beyond that - those are just rough estimates. Second way is to browse vehicles for sale now to see what year, trim, milage, and options falls into your price range then see how many years it will take for a 2016 to get that old. Don't forget to account for a hefty increase in your insurance rate when figuring oUT your budget. I have a 2004 Corvette and 2012 Impreza and adding a 2013 XJL Portfolio AWD more than doubled my rate.

As for finance rates I believe Jaguar USA lists their current deals online. Currently you can get as low as 0.9% for a CPO.

Good luck!

 

Hi Jessica,

Welcome aboard!

When I was a young person fifteen years ago I also bought a used Jaguar (an XJ6 SIII) but no warranty/no inspection- big mistake. I ended up sinking 3x what I paid for the car on repairs. I know right? But I sure felt like the King of England driving that thing (when it ran). Like you, I only liked the big British sedans, none of the other big sedans, coupes, SUV's appealed to me. Suffice it to say when I bought my other Jags years later, I did not make the same mistake.

Assuming the same rate of depreciation (45% first three years) for Jags, you could have your pick of the XJ, Supercharged, or Portfolio in your $35-40k budget by year 2020. They should have 40-50k miles on them and 1 year factory warranty left (out of the original 6 yr/60k). I would buy an extended warranty up to 100k for the peace of mind (like that guy Doug DeMurro on Jalopnik who famously bought bumper-to-bumper warranties on a Range Rover, a Ferrari and an Aston Martin that paid for themselves in a few short months!)

In the meantime, you can research the 2012-13 pre-owned XJ's to get an idea what you might expect in a few years.

Cheers,
Wolfy

 

Jessica,

You asked how long you will have to wait for the price of a used 2016 XJ to reach $35 - 40K. The answer depends on the interaction of several factors including, but not limited to: (1) the original MSRP (depending on model and options from approximately $80K to well over $100K); (2) the miles on the odometer (the more the miles the less it's worth); (3) vehicle cosmetic condition (has it been damaged by any accidents or weather and what reconditioning is needed; (4) vehicle mechanical condition (do you have all the service records and what repairs (tires, brakes, filters, hoses, etc. ) will it need soon; (5) does it have a warranty and, if so, what's excluded and how much time or mileage is left; (6) how many previous owners (more than 1 or 2 could indicate problems), and where you're located.

Jaguars are a rare breed, and it often takes several months to find "the one". I found my CPO 2013 XJ in Chattanooga, so don't get discouraged if you can't find one locally.

To determine how long it might take before you can afford the XJ of your dreams, I suggest that you go to http://www.cars.com and, in effect, work backwards. In the search function, look for XJ models from 2010 through 2014 and then filter by price with a maximum of $45K (a little higher than your actual maximum to give you room for negotiation). If 2014 models are listed, you may have to wait around 3 years. And yes, definitely look for a CPO Jaguar warranty.

In the meantime, do your homework. Use this forum and the internet to research the differences between models, colors, interior trims, options, etc., so you are a knowledgeable buyer.

Stuart

 

Hey Jessica,

I recently found myself in your position and fulfilled that dream. I'm a young guy at 25 who is a high school dropout, never gradated college, but through hardware and a bit of luck I now have a successful business that brings me pure residual profit and full time employment. As such, I always liked Jaguar's and after 4 years of lusting I was able to purchase a 2011 XJ with 35,000 miles for $35,500 with the luxury package in a rather rare color combination. (Indigo blue outside, ivory interior, blue leather dash and blue carpets). The car was spotless, bought from what Carfax said was a 2 owner vehicle but seemed to be just 1 with some wonky registration. The guy put 6,500 miles a year on it and treated it very, very well. I get comments now that ask me if it's brand new!

As someone who researched the hell out of these cars, I originally started looking at 2011's in summer of 2012. At that point they were $50k for a "good deal". Skip forward a few years to 2014, you started to see them creep around $40k, a little above and a little below. 2015 saw them go under $40k with a lot in the $37k-40k price range. As the CPO's warranties started to dwindle in months, the cars have started hitting $35k at dealership in late 2015/early 2016, and private sale can be had for ~$30k-$33k. Going by this, if the 2016's follow the same pattern, it would be around 2020-2021 before the 2016's hit these prices. Maybe sooner, maybe longer, but around there.

The posts above mention that you may have to look out of area, which I found to be true. I live in NYC and have two dealerships nearby, one of which surely felt I was just coming out every few months to drive one around. I then found my car in Florida, negotiated everything pre-flight and flew down for a weekend and drove it back up 95 to NYC.

As far as CPO's....mine "came" as a CPO. Only it wasn't. 200 miles after I left the dealership the next I started getting coolant notification on my dash. I pulled over, topped it off, and continued until 30 minutes later I got the same issue. I pulled over and called Jaguar roadside which told me it wasn't CPO but they'd tow it as a one time good will. I got to the dealership nearest me and it wasn't CPO, but I was assured as was the repairing dealership that the CPO would show up, it was just because of a long bank holiday weekend that it wasn't. They repair the car which was a coolant pipe crack and water pump failure, as well as fix a few other things on the car, and I'm off on my way. I was told this had to be an ongoing issue with the car, which infuriated me. I get to NYC, give it to the dealership up here for a few things I noticed on the ride back up, and that's when they said the car wasn't a CPO but they'd buy me a warranty. I'm still discussing this with them.

Unfortunately, my spotless car was banged off a curb at the dealership while in dealership possession, as well as a broken wood panel on the inside, so the car is BACK in the shop for repairs. Your results may vary, and I've definitely been unlucky, but give yourself time and be patience with your new Jaguar.

Due to the above, I am unsure about the CPO for a car that will only have a year left on the CPO. IMO, it may be better to buy from a 3rd party or non-CPO, go over it yourself with a fine tooth comb, get an inspection of the car for issues with a 3rd party, and spend the extra $4-5k you would have spent on a CPO on a very comprehensive 3rd party warranty.

I will say that owning a Jaguar you are treated mostly very well by service centers. It feels miles above American cars and having to get work done at a Ford or Chevy dealership. There's the plus that unless you're in Palm Beach you don't really see these cars on the road at all either, so an exclusivity is felt.

When I got my car, I had a credit score of 768 on most FICO sites but they pulled it at 738. That qualified me for the 2.99% APR for 60 months on the 2011 that they were running. Unfortunately, I was lead to believe this was actually for 72 months and as such when I got to the dealership they had me closer to 4%, which we talked down to 2.9% after my girlfriend powered through the negotiations. (Protip: If you're emotionally invested in the vehicle as I was I felt more inclined to take whatever was offered. She wasn't as invested and because of that I got a way better deal)

Overall, I love my Jag. I'm not over the honeymoon phase yet, but I averaged 25mpg over my 1,500 mile trip from FL to NYC which astounded me. The 2016's will be even better with the V6 and start/stop in traffic. The interior is top notch, and my 2011 doesn't feel at all that old. I recently flew to LA for a week and had a 2015 A4 and I HATED that compared to my Jag. It felt 100% switched, the A4 felt like a 5 year old car tech and interior wise and the Jag felt like a 2015, so it will more likely than not hold up very well until you're ready to make your purchase.

If you have any more questions feel free to ask me!

 

Hey Soviet, congratulations also on your new Big Cat. I am sure it will purr happily after the initial work on it. My XJ8L needed a new timing chain and new front shocks after I bought it and have been problem-free since as a daily driver. I had researched for 6 months and done a thorough pre-purchase inspection by an indie Jaguar shop and that's what I advise every aspiring new Jag owner to do.

As mentioned in my previous post, CarMax's 6-yr/66k-mi bumper-to-bumper warranty seems like a pretty good deal for the Jalopnik guy. Since you bought from CarMax, did you look into their warranty? His experience piqued my interest so much I am inclined to try it with my next purchase.

Cheers,
Wolfy

 

Doh! Carmax and Carfax are two different things and I got the two confused. I actually purchased from a Jaguar dealership in Florida.

I've been following Doug and that Rover for quite some time. Carmax seems to be rather expensive for XJ's (2-5k more than dealerships even), and I'm sure part of that is expecting people to go in on the long warranty.

I'm actually looking at Carchex which seems to be a bumper to bumper everything covered with a very low deductible after market warranty. I'm quoted around $4,000 for 3 years/45,000-60,000 miles depending on what rep I get, and around $5,000 for a 5 year plan.