XKR Ouch

[kryten22uk]

For some reason I phoned my local dealer for a trade-in price (spent most of the afternoon perusing autotrader; bad idea!) and they only offered me £51k. So thats £22k down in 9mths, nice.

[cliff328]

This sounds very scary. Could you elaborate (perhaps I don't want to know) the model and year?
Going from 51K to 22k in nine months is perhaps the worst depreciation one could imagine. What
do you suspect is causing this? I'm in the US, and values here seem to be falling faster than
a baby grand piano dropped out of a 747. You win some, you lose some.

Cliff

[a8hex]

cliff328 said:

This sounds very scary. Could you elaborate (perhaps I don't want to know) the model and year?
Going from 51K to 22k in nine months is perhaps the worst depreciation one could imagine. What
do you suspect is causing this? I'm in the US, and values here seem to be falling faster than
a baby grand piano dropped out of a 747. You win some, you lose some.

Cliff

Cliff,

I think he's saying that it's gone from £73K ($148K) down to £51K($103K) a drop of 33%.

[NormanD]

A year ago we bought a one year old 3Lt X-Type estate with ALL the bells a whissles on for 50% of new price.

[Triple7]

£10k of that is VAT, which you will never ever see again. £51k does seem a wee bit miserable I have to say. The car mags do indicate the worst depreciation has always been in the first 2-3 years on these, but the fact remains, there are no true book values on these as they are still a relatively new model.

Enjoy.

G

Edited by Triple7 on Saturday 8th September 14:25

[kryten22uk]

a8hex said:

I think he's saying that it's gone from £73K ($148K) down to £51K($103K) a drop of 33%.

Bingo

Edited by kryten22uk on Saturday 8th September 21:38

[Triple7]

kryten22uk said:

For some reason I phoned my local dealer for a trade-in price (spent most of the afternoon perusing autotrader; bad idea!) and they only offered me £51k. So thats £22k down in 9mths, nice.

I believe £50k is the actual price Jag sold the new XKR's to the dealers for, add the options (of course sold at wholesale price to the dealer - £5k) plus the VAT- £10k and you get a nice £10k profit to the dealer, so I think they owe you a better valuation for all you have done for them, so don't let them forget it!! So they give you £50k for your car and it goes back on the lot for probably £59,995 and they can make another £5-7k out of you! Nice work if you can get it!

The best idea of the future value of our car, is to see what the GMFV will be. Obviously finance companies aren't going to want to get burned. My research seemed to indicate after 2 years the XKR will be valued at roughly £40k, 3 years £32k. Based on 10k per annum. But how knows, they don't seem to be many around, is this good or bad? Jag are concentrating on residuals. Evidently up until this year, Jaguar used to insist dealers took a quota of cars whether they could sell them or not, hence dealers wanted to shift them on and so residuals weren't too good. Now evidently you can only order an XKR if you have a customer as they will not flood the market any more. Truth, I don't know.............

So it looks like the XKR will lose 52% over 3 years, as you have found it isn't a linear depreciation! Best not top look at Autotrader, for at least 2 years after a new car purchase!

G

Edited by Triple7 on Saturday 8th September 18:49

[cardigankid]

Well, you don't buy it to sell it you know. What put you in mind to part with it if its not a rude question.

I think nice last model 4.2-S XKR's are still fetching over £40k and not showing much sign of weakening quickly, so I think that your anticipated depreciation may be a bit pessimistic.

All the same, the dealer made a fair profit out of you and if he can't find way of helping you out he doesn't deserve the business.

[Mustard]

Why do Jaguars blow their tits off?

The answer lies with Jaguar mis-managing supply and Pendragon who dominate the Jaguar market mis managing the distribution of the Brand.... as they do most brands they sell (even Aston Martin)

Pendragon freely admit they like the supermarket style of car distribution yet Ford still give them free reign with their premium products... hardly a suitable marriage!

[kryten22uk]

cardigankid said:

Well, you don't buy it to sell it you know. What put you in mind to part with it if its not a rude question.

I wasnt just looking to offload my car, I was looking at lots of lovely italian breeds on Autotrader and many of which were looking tempting prices. So I was seeing what would be involved in obtaining one. Hypothetically.

[Triple7]

kryten22uk said:

I wasnt just looking to offload my car,

Good. Italian cars are a little crass me thinks............

G

[cardigankid]

Yes.The purchase price is just the tempter to get you in the door. Its all the other costs.

[a8hex]

cardigankid said:

Yes.The purchase price is just the tempter to get you in the door. Its all the other costs.

Yepp, I was seriously tempted by a 456, the only Ferrari I've ever really fancied. They looked like great value, till the sales man said that they cost about £6K a year to keep on the road. LOL

[Beemer-5]

Never buy brand new, it's a pointless waste of money, 99 times out of 100.

Unless you are seriously, seriously loaded, get your cars a year old, or more and let someone else take the huge hit in the first year.

A mate has just paid £57K for a 2006 BMW M6 V10 Coupe, £84K when new.

Of course, buy even older and the savings can be amazing.
I just bought a BMW 750i V12 in excellent condition, original price £63,200 with all the extras it has-------for just £3,500.

Many Jags fall like stones. I am looking to buy an XKR 4.2 Coupe today.
1 owner, low miles, originally £62K, immaculate 2003 car for £22K.

[kryten22uk]

Beemer-5 said:

Never buy brand new, it's a pointless waste of money, 99 times out of 100.

Unless you are seriously, seriously loaded, get your cars a year old, or more and let someone else take the huge hit in the first year.

A mate has just paid £57K for a 2006 BMW M6 V10 Coupe, £84K when new.

Of course, buy even older and the savings can be amazing.
I just bought a BMW 750i V12 in excellent condition, original price £63,200 with all the extras it has-------for just £3,500.

Many Jags fall like stones. I am looking to buy an XKR 4.2 Coupe today.
1 owner, low miles, originally £62K, immaculate 2003 car for £22K.

Yeah and if you leave it another 20 years it'll be worth 2k, so you could save £20k.

Firstly, the car was pretty much the first one off the production line, so second hand didnt exist. Secondly I actually wanted a new car; i liked the idea of it. But like you say, usually the depreciation is my friend, as it puts much more expensive cars within reach.

That M6 you mention above, sounds like a good deal, but if he was trying to beat depreciation he wont as it will keep on losing £10k a year. All expensive bimmers are the same. I cant wait for the new M5 to get to half price as one might wing itself my way.

[Triple7]

M series Bimmers are well known to lose an excessive amount of money. As kryten says, all cars lose money, if you don't like it, don't buy 'em, you have is a choice.

G