Best deal you've seen on a Elise/Exige

[Phantom]

Originally Posted by smokin orange

the deals are out there. I got mine in December 06, it was a 05 with 610 miles on it from prestige imports in Miami. Paid 38,000 out the door. Atlanta had one, a 06 for 41K with 9 miles. Work the dealers.
I felt i got a great deal, included the hard top, black wheels & black rear diffuser...which they had to swap from one on the floor

Wow! Definitely a great deal!

I picked up my '06 last year from an individual with only 300 babied miles- I had to complete the engine break-in- I paid $40,500- I love that car!

[Haru]

in January, a dealer offered me $8k off sticker for a blue with biscuit interior that stickered at ~$46k. that was $38k for a new car with 15 miles on it.

I wish I had moved then. Now I am looking at some '06s and some '07s and am not moving on them because these are $50k (asking, not sticker) cars looking like they'll be well under $40k in 6 months.

I want an Elise really really bad, but I can't afford to lose that kind of money that fast. So I sit and tear my heart out every day looking at dealer inventories but too conflicted to make a move. I have the financing arranged, everything is in place, but i just can't sign on the dotted line because the depreciation is looking stunningly high........

[sallystrothers]

Originally Posted by wantanelise

Well thanks to those that helped, hope to see you in other topics, Im done with this one, its become pointless and childish. My appologies to Keeper, I got you confused with others I was being attacked by. Yes I have been waiting for Elise prices to come down to buy one and have no problem admiting it because I assumed people succesful enough to allready own one would have some class...this is where I went wrong. For example telling me numerous times to put my money where my mouth is proves your either stupid or you dont read being I said many times that Im saving untill next summer. Thanks again for all the info.

I think you should wait until the price of an Elise comes down to $7. That way by the time you actually get one none of us will still be on this forum and have to listen to your retarded posts.

[Buz]

I bought 6 Elises on Ebay for under 50 dollars including shipping. We can race them against each other because they use different frequencies for the remotes.

[PHIL2]

Originally Posted by Buz

I bought 6 Elises on Ebay for under 50 dollars including shipping. We can race them against each other because they use different frequencies for the remotes.

hahahahahahha

[dukenyc]

I paid for $40,000 for a "new" 2006 elise w/ touring and starshield. (8miles on car). They would not budge from sticker on a 2007, saying that until the '06's moved, the 07's were as priced.

It was the best price I could find, and there are no used ones around here.

[gregorio]

dukenyc that's a great deal. Does it have a hard top? Where did you buy it?
I am looking a for a new / low miles 2006 with touring / starshield / hard top in St Louis. There aren't any around here that I have found so far.

[uclacyc]

I just made an offer for a 2006 Elise with 9,000 miles for $42,500 with the following options (2006 prices):

• Elise Base $42,990
• Touring package $1,350 Y
• Sport package $2,480 Y
• Hard Top $1,450 Y
• Starshield $995 Y
• Limited Slip (includes Traction Control) $1,790 N
• Traction Control $495 Y
• A/C Delete $250 N
• Black Cast Wheels $250 N
• Forged Wheels $1,695 N
• Metallic Paint $590 Y
• Lifestyle Paint $1,200 N

A little on the high side, considering that it is only 15.59% depreciation from MSRP + Options (national average depreciation for one year-old cars is 23-27%), there are 9,000 miles, and the 2008 will be released in two/three months in Aug/Sep. I still went for it, though, because:

1. There were no other color/options combinations in the entire US market that I wanted (all soft tops or hard tops with the wrong color).
2. The dealer is 500 miles from my place so I can fly there and drive it home.
3. The 2007 Elise is higher in price (MSRP + Options = $55,000) because of the weak dollar and Lotus limiting the production.
4. The 2008 Elise is likely to stay in the $55,000 range because of stupid Bush keeping the dollar weak and Lotus limiting the production.

Total is $47,389.06 after taxes and fees. Will be picking it up in July.


Option prices listed in post on 2006 Elise Options

Edit: Bolded options to make it more clear as to what is included vs. what is not.

[jlj3394]

Prices have gone up this summer - not a lot, but seems like 5-10% to me.

[Keeper]

Originally Posted by uclacyc

A little on the high side, considering that it is only 15.59% depreciation from MSRP + Options (national average depreciation for one year-old cars is 23-27%)

Interesting. How did you arrive at 15.59%? I got 21.8% for your purchase. Are you factoring in mileage somehow? What's national average mileage?

[uclacyc]

Originally Posted by Keeper

Interesting. How did you arrive at 15.59%? I got 21.8% for your purchase. Are you factoring in mileage somehow? What's national average mileage?

Maybe you got 21.8% because you added the options that I had put a "N" next to, because I listed them to show that it wasn't on there.

Elise Base $42,990 + Touring package $1,350 + Sport package $2,480 + Hard Top $1,450 + Starshield $995 + Traction Control $495 + Metallic Paint $590 = $50,350.

$50,350 - $42,500 = $7,850

$7,850 ÷ $50,350 = ~15.59%

[uclacyc]

I was talking to gregorio who bought his 2006 Elise with 1,400 miles for $39,500 with the following options (2006 prices):

• Elise Base $42,990
• Touring package $1,350 Y
• Sport package $2,480 N
• Hard Top $1,450 Y
• Starshield $995 Y
• Limited Slip (includes Traction Control) $1,790 N
• Traction Control $495 N
• A/C Delete $250 N
• Black Cast Wheels $250 N
• Forged Wheels $1,695 N
• Metallic Paint $590 N
• Lifestyle Paint $1,200 Y

This makes it $47,985 with MSRP + Options, purchased at a 17.68% depreciation.

[Keeper]

Originally Posted by uclacyc

Maybe you got 21.8% because you added the options that I had put a "N" next to.

Yup, that was it. Good info, thanks.

Would the lower than average depreciation be partly related to the mileage? What's considered average mileage for the first year?

[uclacyc]

Originally Posted by Keeper

Yup, that was it. Good info, thanks.

Would the lower than average depreciation be partly related to the mileage? What's considered average mileage for the first year?

That could be part of it, but I think that as long as you are below the average annual mileage of 15,000, used cars go for market value. For Lotuses, I don't know what the average mileage would be, but I think that it has to be <15,000 because a lot of people just keep it in their garages, which I personally think is a shame. If mileage was the only reason why, then my purchase should have been less (in a larger number for % depreciation) than gregorio because I have 9,000 miles vs. his 1,400 miles.

I think that the lower than average depreciation has to do more with the basic economic principal of supply and demand. Because there is less supply and less demand, the prices are more likely to fluctuate. Also because the supply is limited, you're less likely to find an exact same car with the same color, options, etc. at another dealership, which shifts the demand curve up. Maybe that is why there is less depreciation.

You can use something like a Car Depreciation Calculator to see that for 2005 Elises, which I'm guessing go for $38k? now, assuming that it was worth $50k when first purchased, is right at the low rate of depreciation for the calculator. The low rate is like 18% for the first year and 11% for the second year.

I guess I paid something like 2.41% (most likely a little less) above what should be rough average of 18%.

[vyuen]

Originally Posted by bmbjj

I just sold my '05 elise that had a sport pack and 22k miles for $36k to a lotus dealer. Prices are kind of all over the place. The trick is that some people have eyeballed these rock bottom prices here and there, so they think those prices are the norm. A $28k elise with 5k miles on the internet without seeing that its a salvage, for instance does not count.

The cars go for whatever people will pay for them. These are not common cars, so there isnt really any accurate guide. A dodge dealer and a mini offered me $28k for the same car. A lambo dealer offered me $33k. I happened to pay a bit more than i should have for the jag in the trade, but thats ok. Im happy with what I got.

I think that's the whole point. The market for these cars is illiquid and few change hands. Hence there isn't a great deal of information on what level previous cars have traded. As long as someone is willing to take a low bid then that's what it will trade at.

So moral of the story is, if you want a deal on such cars you need patience. You never know, if you make a low offer you may get away with a steal.

[Matt in Houston]

I think I got a good deal on my 2006 Elise...bought it from a private seller, car only had 214 miles when I picked it up.

2006 Lotus Elise - $42,990

Hard Top - $1475
Lifestyle Paint - $1200
Sport Pack - $2480
Star Shield - $995
Touring Pack - $1350

MSRP $51,415

Plus the previous owner added a Stage II exhaust and driving lights....

I paid $42,000...not bad for only 214 miles.

[uclacyc]

Originally Posted by Matt in Houston

I think I got a good deal on my 2006 Elise...bought it from a private seller, car only had 214 miles when I picked it up.

2006 Lotus Elise - $42,990

Hard Top - $1475
Lifestyle Paint - $1200
Sport Pack - $2480
Star Shield - $995
Touring Pack - $1350

MSRP $51,415

Plus the previous owner added a Stage II exhaust and driving lights....

I paid $42,000...not bad for only 214 miles.

Hey Matt in Houston, that's pretty cool. Not counting the Stage 2 exhaust (I forgot to mention that's an option that I have as well), you're taking advantage of a 18.31% depreciation from MSRP + options. A better deal than me because you're doing it through a private party, but in-line with the 15.59% that I got.

[gobuffs]

Prices have stabilized since we bought our 05 with 4k miles last August. I think the large drops in prices that we seen the first 2 years the car out will not happen again due to all the above factors (production cuts, USD to GBP exchange rate/increase MSRP). I don't see the prices going up, but I don't see them dropping rapidly. A sub $30k Elise in good condition next summer will be an interesting prospect....my guess is it won't happen regularly- there are always desperate sellers but those circumstances are not common.

[Phantom]

Yes, that is interesting- I'm not sure that my purchase is a good example, as it had its own set of circumstances- I purchased from an individual in Nashville that was really needing to get rid of the car for garage space (as opposed to a dealer who's having to cover the costs of selling the car)- Anyway, I negotiated a great deal ($40,500, down from $45,000), and I was definitely in the right place at the right time-

The car has the touring package, Starshield, and lifestyle paint (phantom black)- The gentleman paid a little over $50,000, and put only 300 pampered miles on the car before ordering a Cayman- When I bought my Elise, it looked like it had just rolled off the showrrom floor (he never even had to wash it)-

I think you can get a car comparable to what you're describing for between $35K-$40K-Look at similar threads, and you'll see some examples-

Good luck!

[uclacyc]

Originally Posted by Phantom

Yes, that is interesting- I'm not sure that my purchase is a good example, as it had its own set of circumstances- I purchased from an individual in Nashville that was really needing to get rid of the car for garage space (as opposed to a dealer who's having to cover the costs of selling the car)- Anyway, I negotiated a great deal ($40,500, down from $45,000), and I was definitely in the right place at the right time-

The car has the touring package, Starshield, and lifestyle paint (phantom black)- The gentleman paid a little over $50,000, and put only 300 pampered miles on the car before ordering a Cayman- When I bought my Elise, it looked like it had just rolled off the showrrom floor (he never even had to wash it)-

I think you can get a car comparable to what you're describing for between $35K-$40K-Look at similar threads, and you'll see some examples-

Good luck!

~20% depreciation is hot! You got a good deal, especially with a basically brand-new car.