Stormtrooper Elise FOR SALE: 2006 Aspen White Elise -- Over $20K in mods!!!

[smoseley]

Originally Posted by Noisycow

Incredible car. It should be noted - in my experience in modding 30+ cars in my life - that tasteful mods usually add about 10-15% of the cost of the mods to the future sale price.

So you're saying you lose 85-90% of the cost of the mods? I ask because I'm selling my TT, which has about $20k of nice mods done to it, and I want to know what I can expect to get.

[Noen]

generally mods don't add any significant value to a car. 10-15% is a good number.

most of my dealer buddies recommend de-modding a car, and selling it stock + selling the "mod" parts individually. You can end up recouping a significant amount of your money that way.

[Noisycow]

Edited myself because it was too much like a general discussion.

[SweetDaddyD]

Originally Posted by smoseley

So you're saying you lose 85-90% of the cost of the mods? I ask because I'm selling my TT, which has about $20k of nice mods done to it, and I want to know what I can expect to get.

Even though it blows, it seems in line with my experience. I sold a show car when I bought the Elise. I had won around 30 first place tropheys with it, it was sponsored by several large companies, and was featured in several mags. I had about double the cost of the car in mods done to car. Believe me, I did not get 3 times the car cost when I sold it. Actually I got about avg clean retail price.
Most of my other cars have been tweaked in some ways, just not to that extent. The only ones that have had significantly increased value were the old ones, and most of that value probably came from them being in pristine condition since most of the other cars the same age would of been clapped out beaters or met the grave years ago. An appraiser on the phone with the buyer of a muscle car I sold with a very built small block, supercharged, stroker, etc told him- you are basically buying an engine on wheels, and getting a car for free. Which was true. Had $18K into the engine/trans. Got $14K for the car.

I am surprised the Stormtrooper Elise isn't sold yet though. It is a very nice car. I think most with the mod bug would agree that the asking price is fair seeing how clean it is and the amount of work that has went into it. If I didn't have an Elise and was in the market for one, I would certainly consider it.

[LotusFrog]

This is an amazing car.... I believe the reason it is not selling yet is due to the price. There is a BRAND NEW 07 Lotus Exige S going for $49,995 at Smith Lotus. There are also some slightly used Exige S models going for around $48-50k.

The problem I see, is the lack of buyers interested in a $50k elise with only cosmetic mods (pretty much) . If you plan on spending that much money why not buy the Exige S for the same price?

I agree that you should probably part it out, you will always get more money that way. The only problem is that it is a complete pain in the a$$ to do so. Otherwise, you may just have to bite the bullet and lower the price a large amount to get this car sold.

[icode4food]

the high price is definitely the problem but i think the seller is already aware of that. otherwise i would have bought it awhile ago.

[TroyLotus]

I am personally looking for an 06 in white and when I saw all the mods I just looked away and it made me sad. My thought is unless the mods are the exact ones I plan on putting on the car myself it takes value away since I am going to have to take them off anyway since I do not like them. For me they do nothing to add value and actually make me look away. As I see it the modified car can actually be worth less than a stock car. If he wants to sell it he can bring it to stock, sell all the parts and try to break even that way. I had a very moddied MR2 before and yanked the motor and all the good parts, then purchased a rear clip and put a stock motor and all the parts I could. I did way better that way for selling it. At 50K with those mods I would go to Vegas and put a lot of money down on him never selling it for even close to that.

Just my little 2cents

Troy

[smoseley]

Troy,

Modded cars are definitely not easy to sell - especially when so exactly customized to someone's taste - but they don't have a lower value than stock, as you suggest.

There is someone out there who, unlike you, is looking for an Elise exactly like this, and to that person it's worth the asking price, because they're saving the $20k + headaches involved in doing it themself.

The key in selling a modded car is patience. You have to wait until the right buyer comes along.

[LotusFrog]

Originally Posted by smoseley

Troy,

Modded cars are definitely not easy to sell - especially when so exactly customized to someone's taste - but they don't have a lower value than stock, as you suggest.

There is someone out there who, unlike you, is looking for an Elise exactly like this, and to that person it's worth the asking price, because they're saving the $20k + headaches involved in doing it themself.

The key in selling a modded car is patience. You have to wait until the right buyer comes along.

Worth a bit more, but not for the same price as a brand new 07 Exige S.

[AdamT]

Just wondering, what exhaust system is on this car? Like that look.

[Dirac]

Originally Posted by AdamT

Just wondering, what exhaust system is on this car? Like that look.

Larini Sports exhaust with Euro tips, AFAIK.

[yoko426]

Is this vehicle still for sale? If so, is your current asking price still 50K? thanks.
-Carl

[A7594217]

Originally Posted by yoko426

Is this vehicle still for sale? If so, is your current asking price still 50K? thanks.
-Carl

I was about to ask that same thing.

[Ox///M]

I'm trying to get back into a Lotus. I never should have sold mine.

I take it this car is still for sale? Any updates on price or are you feeling more open to offers?

BTW; Randy, thanks for keeping my account!

[yellow fever]

Originally Posted by Ox///M

I'm trying to get back into a Lotus. I never should have sold mine.

I take it this car is still for sale? Any updates on price or are you feeling more open to offers?

BTW; Randy, thanks for keeping my account!

+2

[jasond]

Originally Posted by yellow fever

+2

Hi guys, sorry for the hiatus, I've been busy getting the car ready for Hot Import Nights Seattle, plus getting ready for those shows is always a lot of preparatory work. As always, please shoot me a PM if you're interested in the car, that way I get an e-mail at least. Show was great btw, it's amazing how much attention the Elise still attracts from the crowd even when its surrounded by lambo's and other euro's with far more mods. (There must've been seriously at least a hundred people who took photos of the car this weekend ).

Second, yes, the exhaust is Larini with euro-style grills and SE tips tack-welded in place (early Larini tip bolts had issues keeping the tips in place).

Third, and perhaps most importantly, the price has been REDUCED TO $45K (and I'll ship for free to west coast). The car may also be going to the Park Place showroom soon, at which point the price may go back up a bit, I'm not sure yet. As always, I'm flexible on price, so drop me a PM if you're interested.

Next, regarding the resale value of modded cars, I have a lot of friends who also have modded cars, and will share my experience. In general, as many others have mentioned, it is very difficult to recover the value in mods during resale (you may do a bit better if you remove the mods, this all depends on the type of mods and the labor involved in dismantling them). There is definitely some truth to people calling modding the same as throwing money out the window. For me personally, I can't place a dollar amount on the enjoyment I get out of modding my cars: the people I've met, the fun at shows, the friends I've made, the fun in researching and building something that's truly "yours", etc... Some people I know have managed to recover much of the cost (if not all) of their mods when they sell their car, just by finding the right customer (I'd say this happens maybe 1 out of 10 times). When I'm shopping to buy a car that's already been modded for me, I don't mind paying 50 cents on the dollar for mods: if there's $40k of mods in a car, and I pay $20k for them, then that's $20k I just saved, which is always a good day in my book But I'd say the norm in the market for a professionally modded car is to get back maybe 10-25% on the value of mods. In some cases, 0%, and I'm sure in others even less than the value of the stock car (especially if you get a guy who doesn't know how to tune tinkering with the engine a lot, I mean who would want to buy a ticking bomb like that? Or say a bodykit that's totally fitted wrong, I'd take stock any day over that crap.) All my friends mod their cars to the same level of standards that I do mine, so I've never heard of them getting less than 10-25% back on them (and in some cases much more), when the work is done correctly. So really, there's a lot of variance on this subject, depending on what you did to the car, how well it was done, and what your potential buyers think of the mods.

Finally, Troy, there's no way the car is going back to stock Even if the car is not your taste, there are others who definitely do like it. Buying an entire new OEM interior isn't cheap, nor is the labor cost of removing and putting in a new one. Wheels would probably be the first thing I'd part out, but really, a big part of me just wants to see the car sold to someone who can appreciate it for what it is, and who knows, maybe even take it to the next level... can someone say supercharger?

[Golfa]

I hate to continue this discussion any longer which may detract from your sale, but it seems you are including the labor value in this. It almost seems like you view the labor cost as equivalent to some of the aftermarket parts on the car, as you mention you spent about $15k on it. I would advise remove this # from your post, forgetting you spent that amount and only looking to recoup SOME of the value of the parts themselves.

CN: Labor costs should NEVER be included with mods in figuring out the price of a car

Good luck with the sale, and I truly am I big fan of your car. I myself am in the market for a white elise (with black wheels). Your interior is excellent and the McIntosh Audio is so awesome, never seen it in a car before.

[fishguy]

Originally Posted by smoseley

So you're saying you lose 85-90% of the cost of the mods? I ask because I'm selling my TT, which has about $20k of nice mods done to it, and I want to know what I can expect to get.

steve,
strip the mods off, and sell them seperately from the car. you will do much better than selling them with the car.

[brokenboy]

You should really update your location in your profile. The whole time I read this thread, I assumed it had been modded in Seattle but was now in San Jose.

[TroyLotus]

As a buyer looking for a car to purchase right now and wanting a white one I can say my point on the value is proven as your car has not sold at that price. I hope you find the magic buyer, but if you really want to sell the car I would suggest bringing it back to as close as stock as possible and having a realistic price. For less than 50K I can buy a bran new car that has not been touched at all, not that I want that. It is not only you, there is a huge range of prices for the cars right now, from 29-39K. I have not seen a higher price one sell yet so there is some thought in that for pricing. As a future owner, one of these days I will find my car, and I plan on modding it (SC kit, exhaust, header, flywheel/clutch, stripes, interior items painted to match, ect), but I plan on doing it all myself so my labor is free and that is a big part of the ownership for me in that I did the work myself and I am proud of my work I have done so I require a stock car. I think you may sell the car, but at a much lower price than you are asking. If a stock 06 white goes for about 30-35, if really lucky and you find the right buyer you might be looking at 34-38K, if really really lucky. I say these numbers as one who has been looking at ones to buy for a few months, seen what they sell for and what I am willing to pay and I do not feel that I am on the cheap side. I am not saying I will only pay 26k for a car or something like that. I feel that I am being reasonable with my budget range. I just do not think you will get anywhere near the 40K mark, no less 45K. Good luck with the sale.

One more question- If you moddied the car to you liking so much why sell it if it is just what you want and to your specific wants?