I bought my 2007 xkr at the beginning of 2012, for about 40,000. (plus another 5000 in sales tax). I was thinking I would sell it, as I just have too many cars. I do love this car...it's a totally amazing especially when I sit next to a DB9 at a traffic light. But when i checked ads and bluebook, the car seems to be worth around 28,000 now...that's a huge drop in a year. It seems a bit foolish to sell it, as theres no way to get a comparable car for that price...but is it going to drop that much again in another year? Any explanations out there?

 

I don't think it would be worth around $28,000 unless it has over 60k miles or so. I just bought my '07 XKR Convertible with 52k miles for $35,000 and I think this was an average deal, but it has a Select Edition Warranty.

Is yours a 'vert or coupe? Coupes go for about $2-4k less it seems. High miles kills the value on these cars.

 

43000 miles....it's a coup...excellent condition.

 

at 28k thats about what the 67 or 66 fastbacks are worth now at least
The old goes up, the new down

 

Jeeze, sales tax is really high in California! It does appear that book value for trade-in for a clean XKR with your miles is approximately $29k or so, but that's probably what I'd expect given that you probably bought it from a dealer for $40k. Dealer retail from what I'm seeing it still around $35k. I don't think $5-7k depreciation in one year for a car like this is that unusual. Hopefully they level out somewhere around $15k or so!

 

What was the list price from your dealer at that time Alan - if you don't mind me asking? I've been scouring Cars.com and Ebay - and the 07 XKR seem to hold steady at $35K-$40K list price with 50-60K miles and that's been pretty consistent since the beginning of last year I think .....

I am getting ready to trade .. but still in a holding pattern. Paying off a mortgage in 6-7 yrs time still way better than a new car right now ... especially with the crazy low rate.

 

A car (any car) is the worst financial investment that anyone can make. I buy cars for the joy they bring me, and I am completely ok knowing that that joy costs money. I wouldn't expect it to be any other way.

 

I think this car was listed at $37,000, but then eventually dropped to $36,000 and I was offered $35,000.

I found that during the summer of 2012, prices for an '07 XKR were more like $40-45k, now they are more like $35-40k. I think that is more due to seasonal demand than anything else, though. Wishful thinking on the part of the dealerships also plays a part...

 

Agreed. But then depreciation is a big concern. Even though the purchase price of a used XKR may be less than some other comparable cars, the depreciation can be so much more sudden and steep than other models, which can completely change the equations when you are shopping for a car.

I bought my XKR because I loved it and it fits my desires perfectly. But ultimately, I think a 911 or M6 or similar would have been cheaper because those have much better resale value and less depreciation.

Then again, I think the 2007+ XK/XKRs are much better than the older XK8/Rs in terms of depreciation, so thank goodness for that!

 

Actually the mustangs are worth more (they are really gorgeous cars...one is a k code)...but they have not gone down in value, but rather up.

 

Well, the car will bottom out in the high teens when all is said and done, but that is several years from now. Gauge it by looking at what 97ish XK's are going for, for instance...

 

To me, the value of my car is measured by the joy that it brings me...not what someone else is willing to pay for it. I realize that I'm probaby different than most, but I couldn't care less about the resale value of my car. I bought it to drive it and enjoy it...not to sell it.

 

What usually happens is the cash value levels out. Most depreciation is in the first 3-4 years. Don't forget the F-type is due out soon, so this will affect current models. OK, it's a smaller car, but you can't really get much more in an XK really. XK trunk's probably a bit bigger.

Other thing is the selling price you paid has the dealer margin and any warranty in it. Your trade-in price needs to be low enough to give another margin to another dealer and still give a good market price to sell the car.

Better to keep the Jaguar and sell another one in your fleet !

 

So did I, which is more than I can say about a lot of cars in the past that I've sold after just 6 months or 1 year after I bought it. Maybe money is no object for a lot of forum members as I'd expect (this is a Jag forum!), but I go into my car purchases eyes wide open, so that I don't have buyers remorse down the road when I realize what else I could've gotten for the same money or less--and believe me, that's happened many times!

I am not overly concerned about resale value with this Jag though, as I intend to literally keep it forever. If I were that concerned, I wouldn't have bought it.

 

I too think values will start to level out. I got my loaded XK exactly one year ago for $31.5K with 40K miles on the clock.
Deprecation is the only way I got into this great car in the first place (a real "Win" from my prospective (sorry folks, no offense meant)).

Hey, in 2 more years i'll be itching for that used 2010 XKR!

Vince

 

Haha, the blade of Jaguar depreciation cuts both ways! It hurts so good, too!

 

To be quite honest I am completely with aahmichael on this one. I am going into the XKR market with the express purpose of never selling it. Much like CleverName I am also chasing the 2008 rather than the 2010 because I can afford it. It has been a long time since any car has been so much to my liking as the XKR... I also solidly agree on the fact that cars are generally a crap deal, unless of course you live where I live. Where by some unfathomable reason the price of an XKR is roughly about 15 k€ higher than in for examle Germany (euro prices yay!). I'm honestly considering purchasing 2 cars just to sell one to see what I can get for it. I must be missing something because if not then I think the stream of cars going north would be way bigger than it already is. All I know is there are no fees for importing the car from another EU country and there is no way in HELL I would buy an XKR for the prices we get in the North.

 

$28k is probably accurate. It doesn't take into consideration the Select Edition which adds a couple thousand.

$40k initially seems a little high(dealer retail), but I don't know L.A. prices and can only go by my area(DC). Keep it another year and get some more back out of the car $$$ wise and enjoy it!

 

This I agree with.



To paraphrase myself from another thread:

I bought a commuter car new for $8000 + tax +fees. It consistently got 41 mpg. I drove it for 10 years. It was comfortable, reliable, and to this day, looks new. I regularly serviced it with oil changes every 3000 miles. (stay with me here) The only other maintenance it required was transmission fluid changes, air filters, spark plugs, and 1 battery. At 65,000 miles I replaced the timing belt. At 97,000 miles I replaced the CV joints. Its now at 100,000 and because it still gets about 41 mpg, and looks and drives so well, I could probably sell it for $2500 or more, though the blue book is under $2000.

So lets say I just toss it. I received 10 years service from the car. It got me from A to B conveniently, economically, and never left me stranded.

Lets do the math, shall we?

Purchase price $8000
Tax and fees $1040
Insurance for 10 years (10 x $210 x 2) $4200
Gas (100000/41 x approx $2.50/gal) $6098
Oil changes (100000/3000 x $13) $433
Transmisson oil (100000/20000 x $25) $125
Air filter (100000/20000 x $10) $50
Spark Plugs (100000/20000 x $8) $40
Battery $80
Timing Belt $40
CV Joints $200

Total $20306
Or $2031 a year or $5.57 a day.
Or 20.31 cents a mile.

Now, lets compare to public transportation. A taxi is the closest thing to a personal car, lets say its a dollar entry fee and 20 cents for a quarter mile. We'll also ignore the time and the tip. 100000 / (10 x 365) = 27.4 miles a day. We'll be nice and say that you took only 1 trip a day. 27.4 x 20 cents x 4 = $8.64 a day in mileage. Plus the entry fee is $9.64 a day. Or 35.18 cents a mile.

Or how about mass transit? That would be two bus trips and two subway trips per day. There are no transfers. Bus 2 x .70, subway 2 x 2.10 so 1.40 + 4.20 = 5.60 per day The buss and the subway do not follow the most direct route, but lets be nice and say they do. 5.60 / 27.4 = 20.43 cents per mile.

Something not discussed here is though the bus and subway do not have to be concerned with traffic problems, the time for commute was 2.5 hours each way. For the car or taxi, 0.75 hours.

Advantages of the car over the taxi is that it was available at a moment's notice, I could haul whatever I wanted, I could drive however I liked, and as far as I desired.

So if your belief of an investment is one that yields positive returns independent of external needs, then almost no cars are investments. (An exception being a Mercedes Gull-wing.)

But for me and considering my alternatives, this car was the best investment.

The values of oil, gas, bus fares, etc were considered averages over 10 years.

 

Ok...well, interesting forum. I was curious to hear what others would say. Everyone seems to have their own particular reason for justifying their purchase. One thing is pretty certain, Jaguars are notorious for losing their value. I do love this car as well, and I probably will just hang on to it, as there is almost no point in selling it. I was surprised at how big the drop was this year. I seem to remember that bluebook was also pretty close to the 40,000 dollar mark when I bought it.