Resale value

[ivan1]

Interesting article on resale value...an excerpt referring to the elise....

Three-year residual values for the cars Katz quoted — including new models such as the 2005 Ford GT and models from custom manufacturers like Panoz and Saleen — ranged from 45 to 60 percent. This is about midpack among the cars we examined, but on the upside, he says high-end exotics have been largely immune from the most recent recession. Katz says exotics hold their value well because the cost of buying them new also rises quickly. For example, if you bought a new Lotus Elise today for its sticker price of $39,985 and then sold it in three years, the person looking to buy it from you might have to pay $46,000 for a new one, so even your original price of $39,985 would look like a discount to the buyer. But like the Ferrari 360 Spider, Elises are currently selling with big markups, so you would still end up losing money.

http://www.cars.com/go/crp/buyingGui...tsResidual.jsp

Somehow there is no mention of the vehicross in their list

[Steven22]

Interesting. Remains to be seen what happens w/Elise resale.

Lotus cars, especially the Esprits, haven't really faired as well on resale value in the US as other exotic counterparts.

The Elise may indeed be the exception.

[RopaS2]

Originally posted by kusheen
Lotus cars, especially the Esprits, haven't really faired as well on resale value in the US as other exotic counterparts.

The Esprit is the only recent example of any consequence in the US market. Given its exotic-level MSRP, the lack of dealer support (even when compared to Ferrari), and the generally fiddly nature of all Lotus products regardless of MSRP, it is not terribly surprising that you can buy 3-4-year-old Esprits in good condition for <1/2 the original price.

Lotus were never completely successful in making the transition from "minimalist" sports cars to exotics. The Elise is the first "real Lotus" sold here in almost 30 years. As such, it represents a return to the core values that made Lotus road cars unique. Whether that is a viable marketing approach in today's environment is an open question.

The Elise may indeed be the exception.

Agreed. Elise resale values in Europe have held up very well. OTOH, it remains to be seen if the American market can support a "real Lotus" design. Some of the complaints on this list make it clear that a number of Elise buyers have little idea of what is entailed in Lotus ownership (i.e., they "upgraded" from cars like S2000s or Miatas). If this type constitutes the majority of current Elise buyers, there could be a ready supply of ~$20k used Elises within 2-3 years. Time will tell.

[wallabyguy]

My car (snuffy I) listed at just over 46k. State Farm valued her at all most 51K after the accident. So at least in state farms eyes, in the short term, we seem to be doing ok.

[babak]

Originally posted by wallabyguy
My car (snuffy I) listed at just over 46k. State Farm valued her at all most 51K after the accident. So at least in state farms eyes, in the short term, we seem to be doing ok.

ROBERT, you're back, how are you?

[Paul MD]

Please... for the sake of sanity work on the car being worth an average of 50% of its original value after 3 years and base your finance/cashflow calculations on that. You may get a pleasant surprise, probably not but at least you won't catch a major cold either.

[Allan Gibbs]

If you bought a 2005 Elise for $40K or $41K MSRPs, I image you would have a little more cushion against depreciation than owners who bought their 2005 Elise for $43K.

[MJC123]

Anyone who expects their Elise to retain more than 50% of its value in 3 years is likely dreaming. I hope not, but you gotta be realistic.

You can pick up older Elises in the UK for 20% of what they cost new.

[ajp33]

SOrry to bursy your bubble, but there is utterly no way to get a used Elise for 20% of original value !!

On the very off chance that you might, it will have been involved in a very serious accident and will have been put back on the road.

I'm probably about to sell my S2 back in the UK, and should get back around 60% after 3 years ! That's in a crowded market ! I admit the US perception may alter this, but that's the reality in the UK

[MJC123]

Oops, I meant 40%.

[ajp33]

Phew !!!!

I was getting worried at how much I might get for mine !!! The thing that sucks is that I don't want to sell her but since owning her, half her time has been in storage as I've been working away soo much !!

[S2 Bollox]

I saw a Forbes Magazine at the airport in ATL a few month back, had a little blurb on the Elise. Said that the elise was a good "investment vehicle".