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#1 (permalink) |
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Registered User
Join Date: Mar 2007
Posts: 27
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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? |
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#3 (permalink) |
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Double Trouble
Join Date: Sep 2005
Location: Hollywood Hills
Posts: 2,466
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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. .
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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 |
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#6 (permalink) |
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Live to Drive
Join Date: Nov 2006
Location: Rye, NY
Posts: 8,365
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I like the new key
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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?? |
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#10 (permalink) |
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b3NNAd
Join Date: Oct 2003
Location: Bedford, NY
Posts: 5,446
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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...... |
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#11 (permalink) | |
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Live to Drive
Join Date: Nov 2006
Location: Rye, NY
Posts: 8,365
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Quote:
Why was it never registered? Demo car? I'd say $39k
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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?? |
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#14 (permalink) |
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-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
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fourteen
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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
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#18 (permalink) |
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No more cone damage!
Join Date: Dec 2003
Location: West Chester PA
Posts: 8,606
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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.
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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) |
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#19 (permalink) |
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Evora Waiter (2010/2011)
Join Date: Aug 2003
Location: Glendale, CA (formerly Gilbert, AZ)
Posts: 5,064
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For a comparision point, what price are you seeing on discounted new Elises?
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2005 BRP Elise- SOLD 6/9/07 2006 MV Agusta F4S 2008 Audi TT (MKII) |
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#20 (permalink) | |
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Registered User
Join Date: May 2007
Location: Ottawa, ON, Canada
Posts: 301
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Quote:
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... |
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