What Car? Q&A - How much for a used Jag XK8?

Q: I'm thinking about buying a 1998 Jaguar XK8 4.0 V8 convertible, with 52,000 miles and want to know how much to pay. Will running costs be high? Are there any problems I should look out for?
Martin Peabody

A: An XK8 Convertible on a 98/S-plate with around 50,000 miles will cost between £11,500 and £14,000, depending on condition and extras. The new generation is now on sale, however, so keep an eye out for dealers wanting to shift old stock.

As the worst of the depreciation has already been absorbed by this stage, the XK8 can offer you plenty more years of comfortable, long-distance cruising for your cash, but the purchase price might be the least of your problems.

Cars rarely achieve official fuel consumption figures and the XK8 is no different – you'll be making frequent visits to the pumps, with economy only likely to hover around the 20mpg mark. Servicing costs for the V8 are unlikely to be cheap, either, but going to an independent specialist for this should help keep the cost down.

Insurance groupings are also at the top end of the scale, so unless you're going to keep the car in a garage, have a reasonably clean licence and a few years of no-claim discounts, you might find it pricey. Collect some quotes before you buy the car so you know exactly what you're getting into.

There are some reliability concerns with the car – in particular, you should check that the front suspension is been maintained, as a £1000 repair is often needed after 25,000 miles – yours has done twice that amount. More seriously, worn bores can ruin the engines of cars built before 2000, such as yours – have it thoroughly checked out.

Finally, check for transmission oil drips, uneven front tyre wear and noisy front wheel bearings.