It has had one owner, who recently passed away; his son is trying to get rid of it.

It has appx. 75000 miles on it, which seems like a relatively rare find. Always garaged (supposedly), no accidents.
Apart from some aesthetic issues like buffing and paint scratches, along with minor peeling on the interior leather, it LOOKS great.

I always view old former owners as a good sign, and when I test drove it today the ride and the idle felt and sounded great. The engine seems to be in great condition (no noticeable leaks from the compartment/manifolds etc.)

The one sticking point is the price. He's asking 4,099 for it and the kbb was between 2,000 and 3,000. I don't know exactly the thinking behind it but he CLAIMS there is an offer for 3,500.

How should I approach the negotiation, are there any "Jaguar-specific" mechanical features to keep in mind?
What are the key things I should be looking for when buying the car?

 

With most cars, a service history is a great factor for value. For example, if the tensioners have been changed, water pump, transmission services, things like that, it would be things you went have to worry about as much as if they're unknown. If they haven't been done, they can be a bargaining chip, as they are known potential issues. I always view book value as a good starting point, but ultimately it depends on the condition, and if I feel it worth it. I'd have no problem paying a little more than book if it's solid with great history. That though, is a decision for you to decide upon.

 

Thanks for the input!

He did put me in touch with the person who normally does work on the vehicle, so it sounds like I should ask about tensioners, water pump, and transmission work.

Is there anything else to add on the maintenance front?

I think the condition, low mileage, and an owner who "babied" it would make it fair to ask above book, I guess the real question I have is.. how much above book before you're getting ripped off??

For instance, it was my intention to offer around 3,750 - this would be almost 40% higher than the asking price.

 

whoops I meant 40% higher than suggested retail.

 

KBB seems to be conservative on xj8 values. On the other end of the spectrum is NADA, which is what a used car dealer would quote you trying to maximize profit. But it depends on the immediate market conditions and your own desires. How long have you been looking? Is there nothing else but "beaters" for sale in a 250 mile radius? How far are you willing to go and how much longer are you willing to wait? Is it a desirable color?

 

The earlier models had plastic timing tensioners that were prone to cracking and ultimately breaking which could lead to engine failure. As preventative maintenance, they are often replaced with later versions for reliability sake. On the XJ8, the original water pumps were prone as well, and relatively inexpensive to replace. The ZF transmissions have A Drums that were sometimes problematic, but there are much more robust replacement parts available to strengthen them. Not saying that if all this isn't done, that it'll blow up on the side of the road, of course. Proper service for the life of the vehicle certainly helps extend the life of all parts involved, but those are some key points that you might want to inquire about. And if they haven't been done, you can sometimes use that as leverage - You're gonna need money to do those replacements and upgrades, so whittle the price on the car down a little. In my eyes, that price is a fair offer, given the condition you've described it. At least that's my own opinion (and I did just pay 10k for an 03 XJR with 110k miles, soo... I might be prone to over-paying lol)

 

I've overpaid for cars myself too, but in the long run a couple of hundred dollars doesn't mean much if the car turns out to be a winner. $3,700 bucks is not a lot of money now days. If you can buy it and put another $1,000 in it to make it pristine, you'll be happy in the long run. It ain't no Toyota, after all. Tensioners, water pump, thermo tower, tranny service, new serpentine belt, a good buff job and you're good to go for a few years. The fun is in the TLC.

 

Most older owners keep all the receipts in the glove compartment: might check. I don't think he is asking too much if the tires, brakes, air, shocks are fairly new. No matter what you find in receipts, you will probably need to hold your breath on the transmission (some of the later 01s had a hardened A drum - transmission build date is different from car build date on the driver's door) and do the work to check tensioners and cooling system items noted above by Jim Legge and others. As well as fuel system tuneup. All told, about a grand if you do the labor.

At some point, you will want to replace the shocks, shock mounts, sway bar bushings and drag links -- but these can wait for time, weather, and funds -- fronts are easy DIY.

I paid $9K for mine over two years ago with 63K and just got back from a round trip to Charlotte (23.6MPG) to see my son. Car worked like a charm on the open road. Previously made a run to Tampa, ditto, a charm. As the kid in the car wash noted yesterday, "These older ones are unique and beautiful; washed a new one yesterday, it looks like ^^^^ing Hyundai!"

But TLC is compulsory.

 

I usually prefer Edmunds True Market Value, though sometimes I take KBB & TMV, and calculate the average.

Edmunds TMV for your car is about $4K.

 

There is nothing more expensive to maintain than a "cheap" Jag.

Well maintained cars will usually command a premium price over KBB which is usually based on sales of lots of neglected "problem" cars with tons of money to be spent bringing it up to reliable driver status.

Take a look at some of the ragged out cars out there advertized for 2-3k and you will understand what I am talking about.
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