If the XK/XKR is Discontinued-What are our cars worth?
#21
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Just curious how the 3000GT VR4s, 93+ SupraTT, BMW 850s are doing since they were discontinued? Maybe it'll be an indication of the current X150s if they were discontinued.
I doubt it would appreciate or hold it's value like the CGT, Gen 3 Viper ACR or Ford GTs as these are considered (already) collector cars but I hope I'm wrong. I know the Ford GTs are going for around $130k-$150k used which is about the same or better than new.
I doubt it would appreciate or hold it's value like the CGT, Gen 3 Viper ACR or Ford GTs as these are considered (already) collector cars but I hope I'm wrong. I know the Ford GTs are going for around $130k-$150k used which is about the same or better than new.
The Supra TT has appreciated over the last 13 years that I've owned one, and no doubt helped by the first Fast and Furious movie. Good examples of the others you mention are likely holding there values also, and the 300 ZX, Porsche 928 GTS, and RX7 FD should as well.
The XKR could really benefit from being featured in a movie like the Astons were in 007. But it does have the timeless styling that will see it broadly appreciated even more once production has ended, and once it's discovered by collectors and enthusiasts as a desirable and bargain priced sports/GT, I think we'll start to see its prices firm up for good examples. New versions of this kind of car are so far beyond the reach of most enthusiasts that those wanting one will truly discover them for the first time in the used car market, and they will be amazed.
#22
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For the first 5 years I don't think the prices will change much from the usual decline in price of a new car. As we go beyond 5 years the well kept XK/XKR/XK-RS will start to demand a premium. The rarer, better optioned and better shape the car the high premium will be had.
We also must consider that petrol high performance cars will be replaced with full electric cars in 10 to 15 years. The first hybrids will hit the market next year with the Acura NSX and BMW i8. The hybrids are simply a transition car to the full electric car. Just like when life transitioned from the ocean to land--their aren't many amphibious life forums remaining today.
Rare performance petrol cars could be worth a small fortune in 25 years.
We also must consider that petrol high performance cars will be replaced with full electric cars in 10 to 15 years. The first hybrids will hit the market next year with the Acura NSX and BMW i8. The hybrids are simply a transition car to the full electric car. Just like when life transitioned from the ocean to land--their aren't many amphibious life forums remaining today.
Rare performance petrol cars could be worth a small fortune in 25 years.
Last edited by DGL; 12-09-2013 at 10:00 PM.
#23
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Hopefully we can still find gasoline in 25 years!
I used to be really against the hybridization/electrification of performance cars, but I really think they are a proven concept now, with the KERS system in Formula 1, and even the electric motors in Tesla cars. It's kind of exciting, really.
I used to be really against the hybridization/electrification of performance cars, but I really think they are a proven concept now, with the KERS system in Formula 1, and even the electric motors in Tesla cars. It's kind of exciting, really.
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#24
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Whoever asked should we sell now - definitely not at the same time as this would flood the market and devalue them more ;-)
I have been wondering this question. Not because of the discontinuance of the XK but just because of depreciation. I have to ask myself:
If my 2011 XKR is worth $60k now and I see 08's at $40k then I can safely assume my car will loose another $20k in the next 3 years (though I have hoped the 5.0 will hold its value a little bit better). That much more shallow decline than the first 2-3 years but still sharp. So I've been asking if the car is worth loosing that much to me or if I should jump ship and go to one of my old faves like NSX, Viper GTS, 911 Turbo all of which would depreciate much less from this point. Especially something like a GTR.
I feel like I should decide now if I will keep it for life or go save that $15k or so in depreciation difference I would see in one of the models listed above. I do miss shifting after all. But then I get on it, hold a perfect drift on an empty street as I feather the loud pedal (and lament what I may have shaved off my PSS) and am reminded of how great an all around car it is. Then I remind myself that I can have a luxury car like an Equus AND a focused toy like NSX or Viper GTS for almost the same $.
And the viscous cycle of love her/keep her - sell her move on starts all over again LOL.
I have been wondering this question. Not because of the discontinuance of the XK but just because of depreciation. I have to ask myself:
If my 2011 XKR is worth $60k now and I see 08's at $40k then I can safely assume my car will loose another $20k in the next 3 years (though I have hoped the 5.0 will hold its value a little bit better). That much more shallow decline than the first 2-3 years but still sharp. So I've been asking if the car is worth loosing that much to me or if I should jump ship and go to one of my old faves like NSX, Viper GTS, 911 Turbo all of which would depreciate much less from this point. Especially something like a GTR.
I feel like I should decide now if I will keep it for life or go save that $15k or so in depreciation difference I would see in one of the models listed above. I do miss shifting after all. But then I get on it, hold a perfect drift on an empty street as I feather the loud pedal (and lament what I may have shaved off my PSS) and am reminded of how great an all around car it is. Then I remind myself that I can have a luxury car like an Equus AND a focused toy like NSX or Viper GTS for almost the same $.
And the viscous cycle of love her/keep her - sell her move on starts all over again LOL.
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ccfulton (12-12-2013)
#26
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I think most people that buy these cars new don't care much about the financial ramifications of depreciation. I was at a cigar event at a dealer last night where I bought mine and the dealership property is owned by the neighboring Jag dealer. My car was traded in here and shipped to another location since part of the lease states they cannot sell Jaguars. The previous owner of my car is a CEO of a public company that drove by and sat a shiny new Ferrari California and had his secretary call while he was at lunch to have it ready for him... Such an awfully unemotional way to buy cars I thought.
#27
#30
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Cars are rarely a good investment in the financial sense. Even if you can somehow avoid the depreciation part there is the overhead of storing and maintaining it even if you don't drive it, so it's hard to come out ahead.
I think most of us buy a Jaguar for looks, exclusivity or some other more visceral reason; the investment potential is a secondary consideration.
Personally, I wanted a plaything, so went to the other extreme, buying an older model R for a pittance. The car was in need of a good home, and I'm an engineer, so I like to work on things and it was a good fit.
I also like the challenge of trying to get more performance out of a car, and after wrenching away on a Kenne Bell setup, I've got more or less as much power as a new 5.0L R or maybe even an RS.
Would it have been cheaper to just buy a 5.0L? Maybe. Was it a good investment? God no. Is it fun? Hell yes it's fun! And that was the point.
At the end of the day, it's just a car. Do what you want with it, drive it how you want to drive it and above all enjoy it, because it's only money and you can't take it with you.
It's like leaving the walls in your house beige because some day you might sell it and whoever looks at it might not like the color you chose. That's all true, but who wants to look at beige walls.
I think most of us buy a Jaguar for looks, exclusivity or some other more visceral reason; the investment potential is a secondary consideration.
Personally, I wanted a plaything, so went to the other extreme, buying an older model R for a pittance. The car was in need of a good home, and I'm an engineer, so I like to work on things and it was a good fit.
I also like the challenge of trying to get more performance out of a car, and after wrenching away on a Kenne Bell setup, I've got more or less as much power as a new 5.0L R or maybe even an RS.
Would it have been cheaper to just buy a 5.0L? Maybe. Was it a good investment? God no. Is it fun? Hell yes it's fun! And that was the point.
At the end of the day, it's just a car. Do what you want with it, drive it how you want to drive it and above all enjoy it, because it's only money and you can't take it with you.
It's like leaving the walls in your house beige because some day you might sell it and whoever looks at it might not like the color you chose. That's all true, but who wants to look at beige walls.
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#31
#32
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I was just doing some quick reading around the internet and there are a few people talking about it going more upscale as far as amenities to compete with Aston Marton. Considering Jags design chief had a hand in quite a few Aston Martins this may be a possibility. I personally would welcome this change and would love to see the higher end "GT" car produced by Mr. Callum's design team.
I'm going to the Jaguar Driving Academy reception this evening and will see if anyone has any insight and report anything I hear.
I'm going to the Jaguar Driving Academy reception this evening and will see if anyone has any insight and report anything I hear.
#33
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I think anyone who is seriously worried about the 3rd, 4th, 5th and 6th year depreciation on a car that costs as much as an XK Series must have been driving old Corollas or Civics for far too long. Expensive cars depreciate faster, and cars that are expensive to fix depreciate faster. And if there's even a hint of an unreliable reputation they depreciate even faster. So yes, the XK depreciates quickly, and if you bought yours used then that's part of what made it affordable for you in the first place. If it's still depreciating fairly quickly you should have bought an older one. So why moan about it now?
Instead, you should realize you're driving an incredible bargain. What other newish and current high-end, high performance GT can you buy that would depreciate less? There is nothing. Sure, you can buy a 20 year iconic sports car that has proven to start holding its value after it originally plummeted, but that has nothing to do with a current and newish XK. We should be thrilled to drive a $115,000 XKR that's only a few years old and have it only drop $15K in a year. That car dropped at least $30k as soon as the first owner drove it off the lot. Wholesale value on my 2010 XKR vert is $65k Cdn, retail value ~$75k Cdn, and new they were and still are $120k Cdn. Even if I traded it in for wholesale value that's just less than $20K depreciation over the last 2 years that I've owned it, and even less if I sold it privately. And it was basically brand new when I bought it after a Jaguar Canada exec had it for a year. That's a screaming bargain. And I doubt it will go down $10k per year going forward either. I don't put on a lot of miles, so that helps my car's value, and those that put a lot of miles on theirs would expect heavier depreciation.
I can't justify selling it because I feel like I'm driving a fantastic and exclusive high performance GT for next to nothing compared to what any other alternative model would cost. By all means, sell it if you want to drive something else, but not because its value is dropping. I'm also convinced that prices will firm up on pristine and low mileage examples of the XKR/RS, so if you've got one 3 or 4 years old I think you are in particularly good shape! You'll have owned it through much of its warranty period, know how reliable the car is, know it's been serviced well, and have a lot of confidence in it. Had you bought one several years old for less you'd have none of that, and really very little idea of what you were buying. I think you're better off to pay a little more up front for a newer XK, or accept more depreciation keeping a newer one, then to buy a more fully depreciated car that offers a lot less certainty.
Bruce
Instead, you should realize you're driving an incredible bargain. What other newish and current high-end, high performance GT can you buy that would depreciate less? There is nothing. Sure, you can buy a 20 year iconic sports car that has proven to start holding its value after it originally plummeted, but that has nothing to do with a current and newish XK. We should be thrilled to drive a $115,000 XKR that's only a few years old and have it only drop $15K in a year. That car dropped at least $30k as soon as the first owner drove it off the lot. Wholesale value on my 2010 XKR vert is $65k Cdn, retail value ~$75k Cdn, and new they were and still are $120k Cdn. Even if I traded it in for wholesale value that's just less than $20K depreciation over the last 2 years that I've owned it, and even less if I sold it privately. And it was basically brand new when I bought it after a Jaguar Canada exec had it for a year. That's a screaming bargain. And I doubt it will go down $10k per year going forward either. I don't put on a lot of miles, so that helps my car's value, and those that put a lot of miles on theirs would expect heavier depreciation.
I can't justify selling it because I feel like I'm driving a fantastic and exclusive high performance GT for next to nothing compared to what any other alternative model would cost. By all means, sell it if you want to drive something else, but not because its value is dropping. I'm also convinced that prices will firm up on pristine and low mileage examples of the XKR/RS, so if you've got one 3 or 4 years old I think you are in particularly good shape! You'll have owned it through much of its warranty period, know how reliable the car is, know it's been serviced well, and have a lot of confidence in it. Had you bought one several years old for less you'd have none of that, and really very little idea of what you were buying. I think you're better off to pay a little more up front for a newer XK, or accept more depreciation keeping a newer one, then to buy a more fully depreciated car that offers a lot less certainty.
Bruce
Last edited by Bruce H.; 12-12-2013 at 06:04 PM.
#34
#35
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I don't disagree totally with your point, however, I wouldn't go so far as to say that expressing concern over cost reflects that one is living beyond one's needs. In fact, I would say that the opposite is often true. I know many people that have no concerns about costs, an attitude that has contributed strongly to their dubious financial balancing act. In my experience, those that don't worry about cost, either have no money, inherited money or used to have a lot more money, or are Democrats. (sorry, couldn't help myself)
#37
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The main reason I went for a 2010 XK versus an older version, was for the hopefully more reliable car. I wanted to get as new a car as possible with a fair amount of depreciation as a head start. Yes, there is quite a way to go with losing value, but I don't care at all. I've purchased a car that is comfortably affordable for me. I don't think about the value, just hopefully a lack of issues down the line that might come with an older Jaguar. I guess I could have purchased an R8 used or new and know that I would eventually always be hovering around 90,000 dollars regardless of it's age. But I prefer the grand tourer XK even with the steep depreciation that comes with ownership. Anyway, it's only worth less when it's sold. Hopefully, that won't be for some time. I tend to keep cars for a long time, that is if I live long enough.
Last edited by bocatrip; 12-12-2013 at 09:15 PM.
#38
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Completely agree with ndy.boyd. Don't subscribe to that whole "if you have to care about depreciation you can't afford it etc" mentality. Many of us are self-made and can buy anything we want. But we didn't get hear disregarding the value of the $. That said, we all recognize there is a price to play. But seeking to find the optimal balance or TCO for the amount of enjoyment a car gives you doesn't make one cheap or living beyond their means. LOL
#39
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I don't disagree totally with your point, however, I wouldn't go so far as to say that expressing concern over cost reflects that one is living beyond one's needs. In fact, I would say that the opposite is often true. I know many people that have no concerns about costs, an attitude that has contributed strongly to their dubious financial balancing act. In my experience, those that don't worry about cost, either have no money, inherited money or used to have a lot more money, or are Democrats. (sorry, couldn't help myself)
One should never put themselves into a financial situation where they need to WORRY about the financial burden they created by purchasing a luxury item. One should always be CONCERNED about price to make a diligent decision when purchasing any expensive item. You can not replace worry with concern to change my point. Worry means burden.
Last edited by DGL; 12-13-2013 at 04:05 PM.
#40
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DGL,
I don't agree with your assertion that in 20-25 years, all electric cars will be the standard. As a matter of fact, I believe electric cars will be an extremely short lived interim technology that will sooner rather than later give way to hydrogen based fuel celled cars. While electric cars surely save fuel, they are extremely dirty in both production and in disposal, and they still require the use of fossil fuels to generate electricity, and finally, their ranges are relatively short with long recharging times. (How do you take a long trip on an all electric car; it's why Tesla is rushing to create battery exchange stations in their high saturation areas). The reason for electric cars prominence, now, I believe, is that they don't require an infrastructure of stations all across the country which takes time and monetary commitment. With electrics, you just plug in to your own garage. The future will not be electric cars.
I don't agree with your assertion that in 20-25 years, all electric cars will be the standard. As a matter of fact, I believe electric cars will be an extremely short lived interim technology that will sooner rather than later give way to hydrogen based fuel celled cars. While electric cars surely save fuel, they are extremely dirty in both production and in disposal, and they still require the use of fossil fuels to generate electricity, and finally, their ranges are relatively short with long recharging times. (How do you take a long trip on an all electric car; it's why Tesla is rushing to create battery exchange stations in their high saturation areas). The reason for electric cars prominence, now, I believe, is that they don't require an infrastructure of stations all across the country which takes time and monetary commitment. With electrics, you just plug in to your own garage. The future will not be electric cars.
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Executive (12-14-2013)