Am I insane?

bogmanfan

To be looking at a '98 Jaguar XK8? I get a semi just looking at these cars. Messing about on the net last night, looking at insurance quotes, and couldn't believe that a 4.0 coupe would be under a grand. Now starting to think seriously about one. I know all about the tax and fuel costs, but how about servicing? I'm also concerned about being able to shift it in a few years time. Can someone either talk some sense into me, or tell me to go for it.

kyote00

clearly insane ;-)

really nice car....but bound to be difficult to shift in a few years as the "Gormley effect" takes hold...

could also hold on to it ---it will be a classic eventually.

unkel

Nice! But a few rules:

1. do your sums
2. buy it cheaply
3. buy only a great condition car - have it checked out properly
4. have a trusted and reliable mechanic / indy specialist lined up
5. allow for higher maintenance than an average car
6. allow for tyres!
7. forget about ever getting any money back for it
8. hope you won't get unlucky - something like engine or gearbox gone pretty much means the car is a write-off

In my experience (8 years of driving large old V8 petrol engined BMWs) you can own these type of high end older cars for no more than driving a 3 year old Toyota Corolla

bogmanfan

Thanks for the replies guys.
Firstly, I wouldn't touch anything without a FSH and lots of receipts. I'd also get an inspection done. Looking at the UK, where a nice 98 or even 99 with less than 100k can be had for around £8,000. VRT is under e3,000, so I should be able to get one all-in for around e14,000. Equivalent ones here are going for e20,000 and up! Surely I could sell it on for 10,000 in a couple years, no? Basically I reckon I'd only keep it for a year or two, but then you never know;)

ninty9er

bogmanfan wrote: »

Thanks for the replies guys.
Firstly, I wouldn't touch anything without a FSH and lots of receipts. I'd also get an inspection done. Looking at the UK, where a nice 98 or even 99 with less than 100k can be had for around £8,000. VRT is under e3,000, so I should be able to get one all-in for around e14,000. Equivalent ones here are going for e20,000 and up! Surely I could sell it on for 10,000 in a couple years, no? Basically I reckon I'd only keep it for a year or two, but then you never know;)

running one of those things I reckon you'd want a disposable income of about a grand a month on average outside of buying it just to keep it going, between servicing, fuel, tax, insurance, keeping it clean and tyres. and that's IF the insuance is reasonable.

rebel.ranter

As others mentioned, I think if you buy one of these you have to be in it for the long haul. You will find it difficult to shift it on when you are done with it. If you are buying one resign youself to the fact that you are not getting your ~€16k back. Once you have that in your head then all is good & you can enjoy the time you actually want to keep the car.
They are kind of a cool looking beast. One of the guys in here bought one as his first car, he is 40 though.

Beta Ray Bill

unkel wrote: »

Nice! But a few rules:

1. do your sums
2. buy it cheaply
3. buy only a great condition car - have it checked out properly
4. have a trusted and reliable mechanic / indy specialist lined up
5. allow for higher maintenance than an average car
6. allow for tyres!
7. forget about ever getting any money back for it
8. hope you won't get unlucky - something like engine or gearbox gone pretty much means the car is a write-off

In my experience (8 years of driving large old V8 petrol engined BMWs) you can own these type of high end older cars for no more than driving a 3 year old Toyota Corolla

Number 2 is very important!

its a buyers market out there, there are just so many used cars for sale. if you see a car advertised for 20k offer 16/17k and see what they say. I run by this rule... when you make an offer for car, if you don't get a look of shock from the current owner then it means you are offering to much.

they wouldn't advertise it if they didn't want to get rid of it.

I'm planning on buying an Evo 8 soon and I'm not going to pay more that 22k for it, not a chance

unkel

ninty9er wrote: »

running one of those things I reckon you'd want a disposable income of about a grand a month on average outside of buying it just to keep it going, between servicing, fuel, tax, insurance, keeping it clean and tyres. and that's IF the insuance is reasonable.

Nonsense, see my other post. Although I should have stated that driving big petrol engined guzzlers only makes sense if your mileage is low. Mine is about 7k miles per year

bogmanfan wrote: »

I should be able to get one all-in for around e14,000. Equivalent ones here are going for e20,000 and up! Surely I could sell it on for 10,000 in a couple years, no? Basically I reckon I'd only keep it for a year or two, but then you never know;)

Well do you know what, you're probably right. There won't be much competition with cars being imported at that stage and guzzlers might enjoy low depreciation / high desirability because of it

kyote00

If you can get through your onwership period without anything going wrong, then you might be able to run cheaply...

The other risk with 100k cars is that something unusual will be worn out (e.g switch gear, window winder motors, petrol cap release -- all failed after 110k miles on a carina I run...)

what about the clutch or exhaust or MAF

Mpg on the V8 is sub 20mpg if you are careful...

honestjohn.co.uk:
"What's Bad
May suffer from infuriating build quality problems. No easy means of checking 5-speed autobox oil level or refilling it. Jaguar says 'sealed for life', but no oil changes mean a 'life' of 10 years tops. (XKR has a stronger Mercedes box.) Whine of Eaton supercharger pf XKR sounds great at first, but can end up getting on your nerves. Don't handle as well as saloons, mainly because you can't see out as well. These cars gulp gas, of course. Rear passengers need to be legless."

"Front wishbone bushes can go after only about 20K miles causing steering problems, unven tyre wear and, if left unattended, possible suspension damage. Cost to replace can be £700. Jaguar's extended warranty does not cover this, but Warranty Direct's does."


Its mad to suggest that this is cheap motoring...see it for what it is....great fun, V8 rumble --- but definately not a investment opportunity....

bogmanfan

unkel wrote: »

Although I should have stated that driving big petrol engined guzzlers only makes sense if your mileage is low. Mine is about 7k miles per year

I've done just under 9,000 miles in the last 19 months!

unkel

bogmanfan wrote: »

I've done just under 9,000 miles in the last 19 months!

Perfect! Have you driven one yet? Be careful, the sound and the torque of a big petrol V8 and all that in a high end RWD car full of wonderful bells and whistles is all most addictive

The big downer is the tax. Mine's coming up next month @€;1.5k

unkel

And just to show you how overrated petrol consumption is in the grand scheme of the total cost of owning a car. In your case driving a car that does 30MPG compared to a car that does 19MPH saves you about a tenner a week...

cantdecide

I must adit I have as soft spot (or hard as the case may be) for these yokes.

It's totally a case of cost vs value and you will find it hard to get this kind of value from many other car in this price range IMO.


Now- I'm not saying you it'll cost you 10k in maintenance, but completely emptying the piggybank may not be too sensible.


Would it be more economical to spend more up front and get a low mileage example??

bogmanfan

Well, I had been looking at an Alfa GT (I love a sexy car:D), and budget was around 25k. With the XK8, I'd be spending a hell of a lot less up front, and keeping a few grand in reserve for maintenance. The more I think about it, the more I am tempted to be honest.

cantdecide

unkel wrote: »

And just to show you how overrated petrol consumption is in the grand scheme of the total cost of owning a car. In your case driving a car that does 30MPG compared to a car that does 19MPH saves you about a tenner a week...

My Dad is looking at new cars and he's currently in a 3.0 petrol doing 28ish mpg and he wants to get like an E270CDi- he actually thinks the 7 or 8 mpg is the difference between being able to drive it and not... I've had the calculator out so many times but he won't believe me.

Also it's not as if someone else is spending the 30k for him. Depreciation will make light work of his mpg saving and then some. I can't convice him his €10k GS300 is the cheapest car he may ever run, all things considered.

Mena

I've been eyeing the XK8 out for some time now as well, not sure why, I'm not really a Jag fan, but that particular model just "does it" for me. Seriously considering one as well, cheers for all the info :cool:

E92

cantdecide wrote: »

My Dad is looking at new cars and he's currently in a 3.0 petrol doing 28ish mpg and he wants to get like an E270CDi- he actually thinks the 7 or 8 mpg is the difference between being able to drive it and not... I've had the calculator out so many times but he won't believe me.

Also it's not as if someone else is spending the 30k for him. Depreciation will make light work of his mpg saving and then some. I can't convice him his €10k GS300 is the cheapest car he may ever run, all things considered.

28 mpg is very good for a 3.0 IMO. A Merc will cost a lot more to run, with all the things that are likely to go wrong with it..... I mean it's no secret that any Merc built within the past 7-8 years sucks for reliability, though I believe the new C class, and ML and GL are closer to the days when Mercs went forever.

Johnny Storm

bogmanfan wrote: »

.. I get a semi just looking at these cars. ....

Me too.

I have a 97 and its an absolute pleasure to drive.

I think you appreciate its finer points. I'll just outline the bad points:-
It's ****in' expensive !
You can expect about 15 MPG around town. Under perfect conditions on a long run you can get up to 29 mpg.
Jag servicing is very expensive. The car is very complicated with a lot of things that can go wrong (e.g. it has 5 fuseboxes)

Major potential problems are :
- the Nikasil problem, where high-sulphur petrol available in the UK damages the cylinder linings. The car needs a "blow-through" test to check for this.
- secondary tensioners on the timing chain. If they let go its new engine time.
Less serious common problems:
- water pump - early ones melt if they get hot:rolleyes:. If that happens it adds to problem 1.
- front bearings/bushings - wear out easily
- they are very small inside


Summary: if you love cars, buy one immediately.:D

EDIT: loads of info here:- http://forums.roadfly.com/forums/jaguar/jaguar_xk8/

unkel

bogmanfan wrote: »

budget was around 25k. With the XK8, I'd be spending a hell of a lot less up front, and keeping a few grand in reserve for maintenance.

Keeping a few grand in reserve is a great approach. Another thing on the list is that you should not buy these kind of cars with a loan

cantdecide wrote: »

Would it be more economical to spend more up front and get a low mileage example??

Depends. If the plan is to sell it on soon(ish), then it probably makes sense. My approach is different. Buy a high mileage well maintained one very cheaply and don't expect too much back. Keep it for at least 3 years

bogmanfan

I may well be insane, but I picked up my 1999 XK8 yesterday. 73,000 miles with FSH, drives like a dream. Navy blue with cream leather. Dream car has been achieved...

Eoin

bogmanfan wrote: »

I may well be insane, but I picked up my 1999 XK8 yesterday. 73,000 miles with FSH, drives like a dream. Navy blue with cream leather. Dream car has been achieved...

Congrats - now, pictures please!

richie_rvf

Excellent!!

Happy motoring - and pics please!

GB15

Congrats!

Did you import it in the end? How much all in if you don't mind me asking..

SouperComputer

another pictures request......

rebel.ranter

Hurray!

Best of luck with it.

milltown

Good man. Good to know that dickhead Gormley hasn't strongarmed people out of buying the cars they want.

I think a lot of people here would be very interested in photos and some more details; where, how much, how many did you look at and what would you warn others to look out for.

Fey!

Very best of luck with it. As they say, keep it between the ditches!

Weaselator

Sweet, best of luck with it!

Wossack

haha, you leg-end! fair play

blackbox

bogmanfan wrote: »

I may well be insane, but I picked up my 1999 XK8 yesterday. 73,000 miles with FSH, drives like a dream. Navy blue with cream leather. Dream car has been achieved...

Fair dues....

...might as well spend it - you can't take it with you! I blew my SSIA on something similar last year - no regrets.

bogmanfan

Cheers guys, thanks for all the responses.
I'll post pics in the next few days, I can't find my camera charger anywhere.

Bought the car here in the end. I was all set to head over to England, but I managed to get a great deal on one here from a garage. All in, it cost me €19,995. Car is in fantastic condition, with 73,000 miles on the clock. Has plenty of extras like bluetooth phone, parking sensors etc. I had the garage put new tyres on her (chi-ching). They serviced it and also fixed up the front suspension with new wishbone and wheel bearing.
The cheapest '99 one I saw in the UK would have worked out at over €18,000 with VRT paid. And that's with the exchange rate the way it is. Also had 100,000 miles on it.
I think the problem with buying a car like this in the UK is that they are generally few and far between. If you fly over to Surrey to look at one and it sets off alarm bells, there won't be another down the road and you've made a wasted journey. So, for the extra €2k, I felt it was worth buying here.
As for fuel consumption :eek: it's not as bad as I had thought. I took her for a spin this afternoon from Lucan out to Clane and back through Maynooth and got 28 mpg. This included some slow traffic through Celbridge and Lucan, so I was chuffed with that. Taking it to Wexford this weekend, so I'll see what I get on a long trip. To be honest, I was braced for 15mpg, so anything over 20 would be great.
Thanks again for the comments guys. I've never been able to understand why someone would buy a new Focus/Corolla/Golf etc., when they could have a beautiful Jag or Merc or BMW for the same money. Much more car for the money imo.