Depreciation and Decision - LotusTalk

Lyn Vogel · 04-08-2008, 04:54 PM

I've begun to think more seriously about an Elise purchase. So I'm perusing not only new inventory, but also used listings. And while it's not unusual to see so many cars on the market, I'm a little surprised at the depreciation on even slightly-used cars. Naturally, this is okee-doke for the thrifty bargain hunter, but one never wants to be penny-wise and pound foolish.

Is there, these days, any good reason to go new?

Ian · 04-08-2008, 04:57 PM

Only if you want it supercharged or if you want a cool key and dash.

Flash G · 04-08-2008, 05:03 PM

You are correct.

These cars take a BIG drop in value once they're driven off the lot. What I have noticed though is that the prices on 2 -3 year old cars seem to have stabilized.

2005 Elises have held in the 30k - 35k range for over a year now and the depreciation has slowed somewhat.

Exige S resale values are horrible. 2007 Exige S Cars that cost 65k off the lot can now be had in the 51 - 54k range. The cars dropped 10k - 15k in less than a year. Most Exige S cars should hold around the 50k range for the next year or so.

.

chuck_risen · 04-08-2008, 05:05 PM

I like the older interior better.

ritcci · 04-08-2008, 05:07 PM

Quote:

Originally Posted by chuck_risen

I like the older interior better.

and pedals

Bavarian Motorist · 04-08-2008, 05:11 PM

I like the new key

fishguy · 04-08-2008, 05:31 PM

Quote:

Originally Posted by Lyn Vogel

Is there, these days, any good reason to go new?

no,
unless your asking one of the dealers on this forum who sells new cars............
or..............................
unless you have money to take and throw into the toilet, and flush it.

NJdrool · 04-08-2008, 05:34 PM

what would you offer for a new never registered 06 elise with a couple of hundred miles?

ivan1 · 04-08-2008, 05:41 PM

35-36 k depending on options....

ivan1 · 04-08-2008, 05:47 PM

If you want a normally aspirated elise, you can get an 05 or 06 at a great price...If you want a supercharged elise, and you dont care about warranty, buying on 05 and adding a BWR or Katana is also a great deal.... I prefer to have a factory warranty, so I am flushing a little extra down the toilet

and getting an 08 elise SC...There are some nice upgrades since the 05 that help offset the cost a bit, and I dont really worry too much about the depreciation......

Bavarian Motorist · 04-08-2008, 06:33 PM

Quote:

Originally Posted by NJdrool

what would you offer for a new never registered 06 elise with a couple of hundred miles?

Why was it never registered? Demo car? I'd say $39k

NJdrool · 04-08-2008, 06:42 PM

Oops. My mistake. It's an 07 demo CO Elise at FVMC.

Brian 111 · 04-08-2008, 06:51 PM

Quote:

Originally Posted by chuck_risen

I like the older interior better.

Quote:

Originally Posted by ritcci

and pedals

And the '05s are not DBW. (I'll never sell mine!)

ace10 · 04-08-2008, 07:06 PM

fourteen

Lyn Vogel · 04-08-2008, 07:09 PM

Quote:

Originally Posted by Brian 111

And the '05s are not DBW. (I'll never sell mine!)

DBW?

Brian 111 · 04-08-2008, 07:12 PM

Quote:

Originally Posted by Lyn Vogel

DBW?

Drive-by-wire. The '05 has a throttle cable. '06+ does not.

Lyn Vogel · 04-08-2008, 07:21 PM

Drive-by-wire. Of course.

So focusing on '05s would be preferable then? Differences across the years seem to be minimal.

Surferjer · 04-09-2008, 11:55 AM

I sold my first 2005 Elise two years ago for $32,500. I could probably get that or very close to it today if I still had it. I wouldn't dream of selling the 2005 I currently own, it's a one of a kind bone stock from the factory.

Allan Gibbs · 04-09-2008, 12:22 PM

For a comparision point, what price are you seeing on discounted new Elises?

Jamolah · 04-09-2008, 12:42 PM

Quote:

Originally Posted by Flash G

You are correct.

These cars take a BIG drop in value once they're driven off the lot. What I have noticed though is that the prices on 2 -3 year old cars seem to have stabilized.

2005 Elises have held in the 30k - 35k range for over a year now and the depreciation has slowed somewhat.

Exige S resale values are horrible. 2007 Exige S Cars that cost 65k off the lot can now be had in the 51 - 54k range. The cars dropped 10k - 15k in less than a year. Most Exige S cars should hold around the 50k range for the next year or so.

.

Agreed, on the slowing of depreciation. It seems to have held in the low to mid 30s for the Elise.
But do you guys think they'll start to depreciate a lot more in about a year, when the 08s Elise SC start showing up on the used market? I'm inclined to say yes, but who knows...

04-08-2008, 04:54 PM	#1 (permalink)
Lyn Vogel Registered User Join Date: Mar 2007 Posts: 27	Depreciation and Decision I've begun to think more seriously about an Elise purchase. So I'm perusing not only new inventory, but also used listings. And while it's not unusual to see so many cars on the market, I'm a little surprised at the depreciation on even slightly-used cars. Naturally, this is okee-doke for the thrifty bargain hunter, but one never wants to be penny-wise and pound foolish. Is there, these days, any good reason to go new?

04-08-2008, 04:57 PM	#2 (permalink)
Ian Certified Fun Stopper Join Date: Sep 2005 Location: San Antonio, TX Posts: 3,836	Only if you want it supercharged or if you want a cool key and dash. __________________ '06 Exige; Polar Blue; Track/Touring/Stage II/LSD-TC '05 Elise; Arctic Silver/Ruby Red (R.I.P)

04-08-2008, 05:03 PM	#3 (permalink)
Flash G Double Trouble Join Date: Sep 2005 Location: Hollywood Hills Posts: 2,466	You are correct. These cars take a BIG drop in value once they're driven off the lot. What I have noticed though is that the prices on 2 -3 year old cars seem to have stabilized. 2005 Elises have held in the 30k - 35k range for over a year now and the depreciation has slowed somewhat. Exige S resale values are horrible. 2007 Exige S Cars that cost 65k off the lot can now be had in the 51 - 54k range. The cars dropped 10k - 15k in less than a year. Most Exige S cars should hold around the 50k range for the next year or so. . __________________ Turn your flatscreen TV into a work of art. Modern Art DVD \| Plasma Aquarium DVD \| Widescreen Fireplace DVD 11 Esprit??? (When can I place my deposit?!) 07 Exige S - Ardent Red, Stage II Exhaust, LSD, Touring pack 06 Range Rover Sport - Java Black 05 Elise - Ardent Red, Stage II Exhaust, Touring pack

04-08-2008, 05:11 PM	#6 (permalink)
Bavarian Motorist Live to Drive Join Date: Nov 2006 Location: Rye, NY Posts: 8,365	I like the new key __________________ Driving a Lotus Exige with sticky... performance tires on icy roads or in standing water is about as much fun as walking a high wire treated with WD-40 - Car & Driver BWR supercharged... I suppose I "got the power" now??

04-08-2008, 07:06 PM	#14 (permalink)
ace10 -30- Join Date: Jun 2006 Location: In a garage, up on stands, partially disassembled, very dirty and awaiting a long list of maintenance, upgrade and repair items. Or not. Posts: 4,449 Images: 35	fourteen __________________ 2007 Exige S, Storm Ti. Sport, Track and TC.Plus: Multivex Mirrors, S111 Deltabrace, Sparco 6Pt harnesses (w/Ti Dave's Antisub belt mount), I/O Port video mount, Snorkel delete, Shims out, Rearview Mirror delete, 2Bular 7X18, Pagid RS42's, Saiku Michi catch can and, of course, blingy carpet buttons. 08 Toyota Tundra SR5 5.7, 06 M-B E320 cdi, 02 Lexus LX470, 94 Toyota FZJ80 Landcruiser, 97 Bobcat 751C The Red Pill Ignore Me *Be sure too save your IL before browsing away

04-08-2008, 05:05 PM	#4 (permalink)
chuck_risen CLR Join Date: Jan 2007 Location: I live in Glen Ellyn IL, a suburb of Chicago. Posts: 823	I like the older interior better.

04-08-2008, 05:34 PM	#8 (permalink)
NJdrool Finally Join Date: Mar 2007 Location: NJ Posts: 377	what would you offer for a new never registered 06 elise with a couple of hundred miles?

04-08-2008, 05:41 PM	#9 (permalink)
ivan1 b3NNAd Join Date: Oct 2003 Location: Bedford, NY Posts: 5,446	35-36 k depending on options....

04-08-2008, 05:47 PM	#10 (permalink)
ivan1 b3NNAd Join Date: Oct 2003 Location: Bedford, NY Posts: 5,446	If you want a normally aspirated elise, you can get an 05 or 06 at a great price...If you want a supercharged elise, and you dont care about warranty, buying on 05 and adding a BWR or Katana is also a great deal.... I prefer to have a factory warranty, so I am flushing a little extra down the toilet and getting an 08 elise SC...There are some nice upgrades since the 05 that help offset the cost a bit, and I dont really worry too much about the depreciation......

04-08-2008, 06:42 PM	#12 (permalink)
NJdrool Finally Join Date: Mar 2007 Location: NJ Posts: 377	Oops. My mistake. It's an 07 demo CO Elise at FVMC.

04-08-2008, 07:21 PM	#17 (permalink)
Lyn Vogel Registered User Join Date: Mar 2007 Posts: 27	Drive-by-wire. Of course. So focusing on '05s would be preferable then? Differences across the years seem to be minimal.

04-09-2008, 11:55 AM	#18 (permalink)
Surferjer No more cone damage! Join Date: Dec 2003 Location: West Chester PA Posts: 8,606	I sold my first 2005 Elise two years ago for $32,500. I could probably get that or very close to it today if I still had it. I wouldn't dream of selling the 2005 I currently own, it's a one of a kind bone stock from the factory. __________________ Jer-2005 Elise (retired from autox) 1993 MR2 autox car 1999 Dodge 4 X 4 tow vehicle 1993 Miata (hey, it was FREE!) 1987 Toyota Corolla FX16 Lemons car (under repair) 1984 Chevy Citation (future Lemons car)

04-09-2008, 12:22 PM	#19 (permalink)
Allan Gibbs Evora Waiter (2010/2011) Join Date: Aug 2003 Location: Glendale, CA (formerly Gilbert, AZ) Posts: 5,064	For a comparision point, what price are you seeing on discounted new Elises? __________________ 2005 BRP Elise- SOLD 6/9/07 2006 MV Agusta F4S 2008 Audi TT (MKII)

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