Used XKs (150) - Crazy Prices for Used Cars

[DickiePhitt]

I have been considering an XK (X150) convertible and, after test driving a 3 year old low mileage Portfolio, was almost ready to part with my cash.

Then I checked on DriveTheDeal and found that there was currently 30% to be had off the price of an identical new car (under £54k against nearly £77k list). For good measure I ran the reg No of the 2010 model car I was looking at through WeBuyAnyCar and it came up as under £21k verses the nearly £36k being asked by the dealer.

Given this level of disconnection between current discounted new prices and forecourt prices for used examples it would seem to be a foolish man who would consider buying a used XK currently. There needs to be a massive downward adjustment.

Edited by DickiePhitt on Monday 11th November 21:13

Edited by DickiePhitt on Monday 11th November 21:34

[WOO5IE]

Hi Dickie

Just as a comparison have you tried doing this with a an Audi or Beemer. WBAC are not the most generous when valuing cars. The new price is down probably due to a new XK coming soon.

[Le Mans Visitor]

I am a bit confused.

An XK 150 is one of these -

[DickiePhitt]

Hi WOO5IE

Actually my 4yr old Audi TTS went UP by £900 this month over last (fluke) but I certainly take your point about WBAC.com
A (very) rough rule of thumb is that a car will be about 50% of its new value after 3 years. I'd feel very grumpy if I bought a 3yr old XK for £36k - having been told it was over £70k new - when I could buy a new one today for under £54k.
Certainly Jaguar have alienated this potential buyer and, no doubt, many others who have been caught out by the discounting. I will only take another look at an XK when the used values reflect current new values so they need to come down about £8-10k.

[DickiePhitt]

Erm....Au Contraire LMV....Think that's a Lotus Esprit you're confusing a Jag XK (X150) with....

Anyway, back to the thread, hopefully.

[a8hex]

Le Mans Visitor said:

I am a bit confused.

An XK 150 is one of these -

You are quite correct, that is an XK150. But the OP was very careful to say an XK (X150), thank you. You see people calling these XK150s all the time which is very confusing for those of us who have an XK150. I've even seen the XKR (X150) being refered to as an XK150S.

Thanks for the posting BTW, I'm also in the market for an XK (X150) convertible. A quick gander through the ads here on PH seems to show that there don't seem to be many 3ish year old XKs on the market outside the main dealer network, and there aren't any radically cheaper ones.

[Le Mans Visitor]

a8hex said:

You are quite correct, that is an XK150. But the OP was very careful to say an XK (X150), thank you.

Now go and read the title, also since my post the OP has edited his first, confusing post.

It is very annoying when manufacturers call new models simular names to older models. I use Ebay to source parts for my fathers fleet of 1950s XKs, my search always has loads of random new shape model parts



Anyway, Back to the thread and welcome to Pistonheads OP.

Edited by Le Mans Visitor on Tuesday 12th November 08:15

[a8hex]

Le Mans Visitor said:

It is very annoying when manufacturers call new models simular names to older models. I use Ebay to source parts for my fathers fleet of 1950s XKs, my search always has loads of random new shape model parts

I also have an XK150FHC. I know the feeling, so many parts on eBay say XK150 when they aren't, its a real pain.
I guess we should be glad weren't not dealing with an S-Type when things would be even worse I guess.

[CarbonXKR]

DickiePhitt said:

I have been considering an XK (X150) convertible and, after test driving a 3 year old low mileage Portfolio, was almost ready to part with my cash.

Then I checked on DriveTheDeal and found that there was currently 30% to be had off the price of an identical new car (under £54k against nearly £77k list). For good measure I ran the reg No of the 2010 model car I was looking at through WeBuyAnyCar and it came up as under £21k verses the nearly £36k being asked by the dealer.

Given this level of disconnection between current discounted new prices and forecourt prices for used examples it would seem to be a foolish man who would consider buying a used XK currently. There needs to be a massive downward adjustment.

Edited by DickiePhitt on Monday 11th November 21:13

Edited by DickiePhitt on Monday 11th November 21:34

I wouldn't go by what WBAC quotes, they offer the lowest of the low to people that can't be arsed to research what their cars are actually worth. The 36k from the dealer could easily be bargained down I'm sure if you are prepared to haggle. Go in with 30k for starters and you may be surprised at how low they will meet you.......

[Triple7]

WBAC and Trademymotor are a business, why do you think they are in the game! The don't offer a value of your car but a price they are willing to buy it from you for and then I guess auction the car or put it on the trade website to farm off. They must do very nicely.

As for XK's, whether it be new or used, however much you spend, you have to be prepared to lose it. They are cheap for a reason and won't stop they're downward spiral just 'cause you bought it! A 3 yr old Jag always represents the best 'value' IMHO. So forget about looking at residuals, if you 'want it', buy it. Life's too short......

[Triple7]

You have to remember that a dealer has to make a bit of money, if you buy a used car from a franchised dealer, it has to reach a certain standard of presentation, be serviced and warranted....yes we are not talking '000's, but the trade value is probably somewhere in between.

My 911 has an offer of £34k from WBAC, CAP says part-ex of ~£38k, retail private is about £42k, Porsche have similar cars on their forecourt for £46k.........anyone ever met a broke car dealer!

[a8hex]

Triple7 said:

As for XK's, whether it be new or used, however much you spend, you have to be prepared to lose it.

If you don't like it, by an XK150 rather than an XK (X150)

[DickiePhitt]

Thanks for all the input - yes, I'll be more careful with my designations next time.

I wasn't seriously suggesting going to WBAC.com but they are useful because, if you run your own car and the prospective purchase through their estimating process you quickly and easily get a rough-and-ready cost to change. Yes WBAC and the dealer have to make a bit on the respective motors but this simply adds a few grand to each number so still means, generally speaking, that the difference is the same so the rough-and-ready cost to change is valid.

Then I look at it from the other direction to double check - a 3yr old car should be around half purchase price (and in my view purchase price is the lower of the price now and the price when new).

So whichever way I come at it I arrive at the conclusion that a 3 yr old Aluminium body XK (X150) should be around £25k, well under what seems to be negotiable.

Yes, life is short but neither do I want to decide in haste and regret the decision at leisure.

I suspect the only way to come close is to find a stunned owner who has just been offered trade for his pride and joy - having of course sold my own car privately on Pistonheads Classified.