hello jag x-type vdp/'bye jag xjr

chisueJune 21, 2005

We are looking at a 2005 Jaguar X-Type VDP with 2700 miles.

We would be selling or trading in our 1995 Jaguar XJR with 48,000 miles. I'd welcome comments and advice.

The newer car is AWD, and the VDP package adds $3K to the base price; it has one option, the backup beeper ($325). It would come with a 6-year/100,000 mile Jaguar warranty that would expire in December 2010. It was a company lease car. I have the CarFax report.

I need help establishing fair retail price -- difficult since most search engines don't allow searching a "used 2005" car. The 2006's should be out this fall. It is difficult to find a new 2005 X-Type with the VDP package; I face the same difficulty establishing fair price for that if I could find it!

KBB lists the 2005 X-Type without VDP:

MSRP $35K

Invoice $32K

Usual price paid in my area $33K

The dealer has priced the car at $32,795 and would allow $7K trade-in.

Some here may recall my musings about selling our XJR. I see that the Kelly Blue Book value on it is only nine to ten thousand dollars. We could keep it, but that's more insurance and maintenance, and the car is beyond warranty.

We've enjoyed it for nine years -- bought it new in April 1996 -- but maybe enough is enough.

Despite the low miles, age will take a toll sometime.

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sdello

Based on your post, my feeling is that it sounds like he's giving you a fair deal but it is no bargain. This could be because he can get the price he wants pretty easily without trading your car.

If you tell me that kelley blue is 9k-10k and he's giving you 7k then he's lowballing your trade and not giving any on the purchase (good deal for him). Your other option is to buy the new one and sell the old one on your own.

I'm not familiar with the "pre-owned" Jag market but intuitively a '95 turbo car with 48k on the odometer should move pretty easily for 9-10k

Just MHO. Good luck

    Bookmark   June 21, 2005 at 2:55PM
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steve_o

I agree that the value of the trade-in is key. If he's lowballing you on the trade, he needs to come up to at least that far. Jaguars may be an exception because they're relatively rare, but used car prices in general have taken a hit because manufacturers make it so much easier to buy new cars. However, the dealer still should be able to give you average trade-in value, if not more.

One thing you could do is to check how much of a depreciation hit the 2004 takes relative to its original price. With 2700 miles on it, I don't think the dealer will be able to sell this car as "new" so some consideration is due there; the percent of depreciation will be a guide (not the absolute number).

    Bookmark   June 22, 2005 at 9:02AM
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chisue

sdello -- No, on the 1995 XJR the KBB of $9K - 10K is private sale value. Trade-in value is $7 - 8K. Retail, $13K. So, I see the dealer making $5K on my trade-in, and think the price on the X-Type should be lower. Even if he had to put something into the XJR to ready it for market, it should profit him well. The salesman said he thought they would market the car rather than auction it.

Steve_o -- Well, that's my problem. I don't know what depreciation to figure on the 2005 X-Type VDP with 2700 miles. In three months, when the 2006's come out, the car becomes "last year's model". Seems to me a car drops 20% to 25% when you drive it out off the dealer's lot. In that case, even a new 2005 (MSRP of $37,280) would be $29,825, or even $27,960. FWIW, State Farm loan department tells me June retail value is $31K.

I'm thinking of proposing $30K less $8K for our trade-in =
$22K cash (plus tax, license fees, etc.) Maybe that is too much? The dealer bought two of these cars in May at a Jaguar auction in St. Louis. Now, if we could just peek at what he paid...

Thanks for helping me with my "car wars".

    Bookmark   June 22, 2005 at 1:15PM
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cseyer

My mom recently purchased a 2005 Subaru STI, I mention this because it was a similiar situation with a close to new car with low miles. It origanally sold for $33k she paid $28k and no trade in. So I would expect to see at least $3k to $5k off the original selling price otherwise just buy a new one. So if you assume the orginal selling price on this car was $36k (33 + 3 for VDP) then you are not getting the best deal but an okay deal. Press for a couple thousand more either in trade or off the price and be ready to walk if they wont take it. Your trade in sounds pretty good and they ought to be able to flip it pretty quick for profit as long as its mechanically sound.

    Bookmark   June 23, 2005 at 11:53AM
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steve_o

Hmm ... Given that the car has some miles on it and given that it has a short life as "this year's model" and given that the dealer has been carrying the costs on two of these cars since May, I would think he can/should come down further on the VDP than $33K. SF Loan certainly thinks so.

How badly do you want this car? Personally, I would start at $20K plus your current Jaguar and maybe top out at your $22K plus your car. Especially if the 2006s are substantially different. Especially if the other VDP isn't sold yet. Especially if you're not over the moon about the color or a missing feature or something else. Despite the fact that Jaguar is warranteeing the car as if it were new, it is, in fact, a used car, and there's no reason you should take the full depreciation hit.

    Bookmark   June 23, 2005 at 2:35PM
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chisue

Update: Dealer has turned down $22K cash plus our XJR. (I'm not talking taxes, title, etc. here -- just the price.)
"We won't make any money on the car," says the salesman. He countered with $24,764 plus our car. So, we are nearly $3K apart. I suppose I could offer that old standby, "split the difference", which would be $23,500 plus our car. In effect that gives them the $31K State Farm Loan says it is worth, and they are paying the $7,500 KBB says our car is worth -- they can wholesale it for that, or retail it for up to $13K with no warranty.

Or, we can go back to the drawing board and look for something else! But what? Three cars we considered are all to be completely re-styled for 2006: Cadillac DeVille, Buick Park Avenue; Infinity. I wouldn't want an old style when we tend to keep our car so long. The 1995 XJR styling only changed greatly in 2004. In fact, Consumer Report guesses Ford/Jaguar may discontinue the X-Type after 2007!
Grrrrr.

    Bookmark   June 24, 2005 at 3:51PM
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chisue

2nd Update: We bought the X-Type VDP for 83% of original MSRP. Dealer came down only $700 on his original price of $32,746 and allowed $8K on our trade-in XJR.

This is some change for us -- smaller car; harder ride. Will take some getting used to. Maybe in a couple years we will buy something larger again, but also at least a year old.

Thanks for all help!

    Bookmark   June 26, 2005 at 2:28PM
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sdello

Sue:
hope the new jag gives you as much enjoyment as your previous jags. best of luck with it!!

    Bookmark   June 26, 2005 at 8:08PM
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