08' s240 prices - LotusTalk - The Lotus Cars Community
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post #1 of 30 (permalink) Old 05-12-2008, 12:33 PM Thread Starter
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08' s240 prices

Wondering if decrease in value will allow a low mileage s240 to be purchased 50-52k by spring of 09'? Just wondering what you guys think the market will do as i'm wanting to pay for most of the car and planning a budget based on timeframe. Thanks

2005 Lotus Elise/Ardent Red/ HT/ Biscuit/ Sold!
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post #2 of 30 (permalink) Old 05-12-2008, 12:38 PM
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Could be...depends what newer models come on. I certainly hope not, however. Prices are dropping too low as it is.
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post #3 of 30 (permalink) Old 05-12-2008, 12:50 PM
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I honestly don't think the Exige 240s will take as big of a hit as the 2007 Exige S. There are not a lot of 240s in dealers lots right now and I'm sure that's by design. So, I don't forsee many 240s in the low $50 range within the next 10 months. That's a $20K spread from most 240's sticker price to the $50K

I know FVMC has a pre-owed 240 and they're asking $65K. I e-mailed Newport European a few weeks ago about their 240 (3 in stock) and they were willing to drop $2K off the $70 to $73K MSPR.

I suppose if Lotus does the "annual power increase" for the Exige next year, the price will go down but still, there aren't as may 240 as there are '07 Exige S so I don't think you'll be seeing $10K off a Exige 240 next year which means the pre-owns will probably hold their value. You'd have to keep a sharp eye out for the person who'll really eager to sell their 240.

I suppose in 2010 the price of the 240 will go down as the Eagle starts to arrive and Lotus owners start trading thier cars for the Eagle. Also, if 2009 is the year of the Eagle, Lotus could just leave the Exige and Elise SC alone for another year.

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post #4 of 30 (permalink) Old 05-12-2008, 12:57 PM
 
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I honestly don't think the Exige 240s will take as big of a hit as the 2007 Exige S. There are not a lot of 240s in dealers lots right now and I'm sure that's by design. So, I don't forsee many 240s in the low $50 range within the next 10 months. That's a $20K spread from most 240's sticker price to the $50K

I know FVMC has a pre-owed 240 and they're asking $65K. I e-mailed Newport European a few weeks ago about their 240 (3 in stock) and they were willing to drop $2K off the $70 to $73K MSPR.

I suppose if Lotus does the "annual power increase" for the Exige next year, the price will go down but still, there aren't as may 240 as there are '07 Exige S so I don't think you'll be seeing $10K off a Exige 240 next year which means the pre-owns will probably hold their value. You'd have to keep a sharp eye out for the person who'll really eager to sell their 240.

I suppose in 2010 the price of the 240 will go down as the Eagle starts to arrive and Lotus owners start trading thier cars for the Eagle. Also, if 2009 is the year of the Eagle, Lotus could just leave the Exige and Elise SC alone for another year.
Pretty much what Allan said. '08's are extremely low in volume and Lotus won't throw money to an '08 with little inventory to dealers...even if they do an upgrade in power for the '09
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post #5 of 30 (permalink) Old 05-12-2008, 12:59 PM
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Also, in retrospect, the best time to have bought an Exige 240 would have been when the loyalty coupon was in effect. That was $4K off right there. It's possible a dealer could have knocked off another $1K.

Does anyone know if the 2009 Exige and 2009 Elise will also appear at the British Autoshow in July?

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post #6 of 30 (permalink) Old 05-12-2008, 01:42 PM
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im getting old^^^ Time is going by much faster. It seems just like yesterday we were looking at sneak pics of the 08 models.


My comment towards the subject. NO WAY you buy a 08 s240 for 52k in spring 09.

High 50's if your lucky, is what you should be looking for.

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post #7 of 30 (permalink) Old 05-12-2008, 02:06 PM
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Originally Posted by Allan Gibbs View Post
Also, in retrospect, the best time to have bought an Exige 240 would have been when the loyalty coupon was in effect. That was $4K off right there. It's possible a dealer could have knocked off another $1K.

Does anyone know if the 2009 Exige and 2009 Elise will also appear at the British Autoshow in July?
I think that loyalty coupon initiative was a gimmick. I am sure that dealers would have low-balled you by $4 or $5K on your trade in. It was also a poorly coordinated campaign since the Elise SC didn't seem to be available to dealers or get shipped here during that time.
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post #8 of 30 (permalink) Old 05-12-2008, 02:11 PM
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Originally Posted by Vishus_1 View Post
I think that loyalty coupon initiative was a gimmick. I am sure that dealers would have low-balled you by $4 or $5K on your trade in. It was also a poorly coordinated campaign since the Elise SC didn't seem to be available to dealers or get shipped here during that time.
True, but you could have sold your car privately or sold your car before the coupon took effect.

But I do agree with you that it was poorly coordinated since the Elise SC wasn't even available at the time. The best scenario would have been to have an '07 Elise and an '08 Elise SC for owners test drive and then decide which one to go with.

But I supsect the loyalty coupon was really more of an effort to sell the 2007 models more than the 2008 (especially since the 2008 aren't very plentiful).

2005 Lotus Elise- SOLD 6/9/07
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post #9 of 30 (permalink) Old 05-12-2008, 02:53 PM
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wow, I'm shocked once again. Some useful and insightful speculation, and no smarmy comments. Is the community actually be a community again, or are the new mods just really quick to delete?
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post #10 of 30 (permalink) Old 05-12-2008, 03:45 PM
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wow, I'm shocked once again. Some useful and insightful speculation, and no smarmy comments. Is the community actually be a community again, or are the new mods just really quick to delete?
On a side note, where the old moderators relieved of duty when Randy sold the forum?

And ulmpharmd, the aother option would be to pick up a '07 Exige S for around $53K (base) to $59K (loaded), which is pretty much 10K off and then modify the ECU (Gotham) for the extra 20 or so horse power. The only thing you would miss from the 240 would be the launch control, upgraded brakes, variable traction control, and upgraded interior & Mohawk scoop. I'm not sure how much those features are worth to you.

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post #11 of 30 (permalink) Old 05-12-2008, 04:25 PM Thread Starter
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Thanks for all of the insight guys. This is why i will continue to read this forum, honest answers without being jerks about it like on other car forums. If prices don't follow suit and decrease like the 07's did, then i'll just look for a low mileage 07' S.

2005 Lotus Elise/Ardent Red/ HT/ Biscuit/ Sold!
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2007 Lotus Exige S- Magnetic Blue (Sold)
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post #12 of 30 (permalink) Old 05-13-2008, 05:53 PM
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Mid 50's no doubt by spring/winter time. Only time will prove me right

It's Never Enough...
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post #13 of 30 (permalink) Old 06-14-2008, 11:56 AM
 
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I would say mid 50s as well. depends on color, though big time and if the owner took it on the track
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post #14 of 30 (permalink) Old 06-14-2008, 12:47 PM
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Aspen white S240 on ebay for $59,000 with 250 miles. What a sick deal.
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post #15 of 30 (permalink) Old 06-20-2008, 02:44 PM
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Originally Posted by ulmpharmd View Post
Wondering if decrease in value will allow a low mileage s240 to be purchased 50-52k by spring of 09'? Just wondering what you guys think the market will do as i'm wanting to pay for most of the car and planning a budget based on timeframe. Thanks
Being a glass is half empty kind of guy, I would say that if you are seeing new/leftover 08 S240's going in the low '50's by next Spring, you are seeing the beginning of the unraveling of the Lotus dealer network, and the Lotus presence in the US.

Unlike the 05 Elise's, they've brought almost no more S240's into the market than they were sure would sell. The numbers are so few, that if there are any leftovers, the market is saturated.

And if they can't sell the S240, the quickest road Lotus yet, in extremely small numbers at or near MSRP, and have them left over a model year later, it would not speak well for the future of the Lotus brand here.

If dealers wind up selling S240's in the low 50's to get rid of the few out there, my guess is that those dealers will be close to cashing out their Lotus franchises altogether, figuring if they can't get MSRP for those cars, Lotus isn't going to have a car that they can sell at a profit.

Owned, loved, enjoyed, and now gone:
1969 Europa S2 Blue
1970 Europa S2 White
1974 Europa Twin Cam Blue
1974 Europa Twin Cam Blue
1984 Turbo Esprit Calypso Red
2005 Elise Starlight Black
2005 Elise Saffron Yellow
2005 Elise Ardent Red
2006 Exige Graphite Grey
2007 Exige Canyon Red

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1970 MGB GT
1970 Datsun 510
1984 Honda CRX Si
1984 Pontiac Fiero
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post #16 of 30 (permalink) Old 06-20-2008, 03:36 PM
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Originally Posted by lotusforsale View Post
If dealers wind up selling S240's in the low 50's to get rid of the few out there, my guess is that those dealers will be close to cashing out their Lotus franchises altogether, figuring if they can't get MSRP for those cars, Lotus isn't going to have a car that they can sell at a profit.
I agree with you unless the Eagle turns out to be a smash and arrives soon. But at the $70K price point and competing against the 2009 911, I'm not holding my breath.

2005 Lotus Elise- SOLD 6/9/07
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post #17 of 30 (permalink) Old 06-20-2008, 04:12 PM
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So maybe we'll be negotiating 09 Lotii from dealer invoices, right before Lotus dealers close their doors...
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post #18 of 30 (permalink) Old 06-20-2008, 04:19 PM
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So maybe we'll be negotiating 09 Lotii from dealer invoices, right before Lotus dealers close their doors...
More likely you'll have to order one to get one, and pay MSRP. No haggling. The dealers will make their livings selling Chevys, Audis, etc., their bread and butter, and take the odd Lotus order. A few of the dealers might have a little inventory, or maintain the minimum inventory necessary to maintain dealership status, but it's more likely it'll recede back to something resembling the Esprit days. Fewer dealers, cars available on order only.

Agree that the Eagle will need to be something different, and a smash, for Lotus to get a second wind here. The new Elise/Exige market right now seems to be pretty much saturated.

Owned, loved, enjoyed, and now gone:
1969 Europa S2 Blue
1970 Europa S2 White
1974 Europa Twin Cam Blue
1974 Europa Twin Cam Blue
1984 Turbo Esprit Calypso Red
2005 Elise Starlight Black
2005 Elise Saffron Yellow
2005 Elise Ardent Red
2006 Exige Graphite Grey
2007 Exige Canyon Red

Other:
1970 MGB GT
1970 Datsun 510
1984 Honda CRX Si
1984 Pontiac Fiero
2004 Chrysler Crossfire
2009 Pontiac Solstice Coupe
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post #19 of 30 (permalink) Old 07-02-2008, 08:04 PM
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I have a feeling that Lotus will keep trying to entice new customer by evolving like Porsche by offering small upgrades in engine output/aerodynamics every so often. However unlike Porsche, the number of Lotus enthusiasts are small-- much like the Apple vs Microsoft. If Exige & Exige S have shown anything ... it's that the depreciation of Exige is like brick falling off a building. Elise tends to do better because it appeals to a larger group of buyers. Just my 2 cents.
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post #20 of 30 (permalink) Old 07-03-2008, 07:29 AM
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If Exige & Exige S have shown anything ... it's that the depreciation of Exige is like brick falling off a building. Elise tends to do better because it appeals to a larger group of buyers. Just my 2 cents.
I think just the opposite has been shown. The Elise does worse because the market was flooded with them. Exiges are much rarer and hold their value better.

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