Buying an 07' Exige S on Consignment - LotusTalk - The Lotus Cars Community
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post #1 of 35 (permalink) Old 03-23-2010, 08:13 PM Thread Starter
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Buying an 07' Exige S on Consignment

I'm helping my GF's dad buy a new lotus. It's a 2007 Exige S with ~ 4800 miles on it listed for $41990. As stated in the title, the car is on consignment. The dealer claims the price was just dropped $4k. Does that mean their markup was reduced $4k or the owner agreed to accept $4k less for his minimum? Her Dad says he doesn't want to pay any more then $40K.

The car has starshield yet the headlights already have rock chips in them, along with more normal rock chips on the front lip. Considering the low miles, it seems the fact that the car was taken to the track is the cause. The car also has a factory installed stage 2 exhaust and harness bar. The owner is the kind of guy who drives a car for ~ 5000 miles and then moves on to the next one. The car was obviously driven hard, which isn't to horrible since it's a lotus. But track driving is track driving no matter what car it is, right? maybe a possible bargaining chip?

anyway, what do you guys think about the car? price? how do i go about negotiations with a consignment car? Any different from a regular car sale? From what i read it just comes down to what the minimum price the owner will accept and how much profit the dealer wants to make.

Thanks in advance for any input/advise
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post #2 of 35 (permalink) Old 03-24-2010, 12:54 AM
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Get an ECU dump, then report back.

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post #3 of 35 (permalink) Old 03-24-2010, 03:52 AM
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Originally Posted by kanders2 View Post
It's a 2007 Exige S with ~ 4800 miles on it listed for $41990. As stated in the title, the car is on consignment. The dealer claims the price was just dropped $4k. Does that mean their markup was reduced $4k or the owner agreed to accept $4k less for his minimum? Her Dad says he doesn't want to pay any more then $40K.

The car has starshield yet the headlights already have rock chips in them, along with more normal rock chips on the front lip. Considering the low miles, it seems the fact that the car was taken to the track is the cause. The car also has a factory installed stage 2 exhaust and harness bar. The owner is the kind of guy who drives a car for ~ 5000 miles and then moves on to the next one. The car was obviously driven hard, which isn't to horrible since it's a lotus. But track driving is track driving no matter what car it is, right? maybe a possible bargaining chip?

anyway, what do you guys think about the car? price? how do i go about negotiations with a consignment car? Any different from a regular car sale? From what i read it just comes down to what the minimum price the owner will accept and how much profit the dealer wants to make.
I believe the car sounds like its worth every penny of the original $45990 price...and you're stealing it at $41990. Your GF's father shouldn't be able to sleep if he gets it for $40K.

In the name of full disclosure, I own a 2007 Exige S.

Seriously, as stated it's about the ECU dump, maintenance records, and a thorough PDI looking for all the usual touch points in these things.

After that, the market is pretty much irrelevant. Like you said, it's the crossroads between what the seller is willing to take and the buyer is willing to offer.
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post #4 of 35 (permalink) Old 03-24-2010, 04:41 AM
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Originally Posted by kanders2 View Post
I'm helping my GF's dad buy a new lotus. It's a 2007 Exige S with ~ 4800 miles on it listed for $41990. As stated in the title, the car is on consignment. The dealer claims the price was just dropped $4k. Does that mean their markup was reduced $4k or the owner agreed to accept $4k less for his minimum? Her Dad says he doesn't want to pay any more then $40K.

The car has starshield yet the headlights already have rock chips in them, along with more normal rock chips on the front lip. Considering the low miles, it seems the fact that the car was taken to the track is the cause. The car also has a factory installed stage 2 exhaust and harness bar. The owner is the kind of guy who drives a car for ~ 5000 miles and then moves on to the next one. The car was obviously driven hard, which isn't to horrible since it's a lotus. But track driving is track driving no matter what car it is, right? maybe a possible bargaining chip?

anyway, what do you guys think about the car? price? how do i go about negotiations with a consignment car? Any different from a regular car sale? From what i read it just comes down to what the minimum price the owner will accept and how much profit the dealer wants to make.

Thanks in advance for any input/advise
I've been helping other find homes for their Lotuses ever since I left an authorized dealer 2 years ago. That includes some consignment work as well.

Usually when the price drops it represents a movement on the part of both parties, the owner and the dealer, to accept less for the car.

It actually sounds like a heck of a deal for a good low mileage Exige S. You could pay less but you will get what you are paying for. If the car is well maintained, a few chips shouldn't matter. Lets face it, unless you're buying it to hide in a barn somewhere for the next 40 years, you are likely to get chips on the car while driving it anyway. BTW, if you intent is to hide the car away indoors and never drive it so you can keep it perfect, don't buy a Lotus.

It sounds like you're only $1k away. Forget market. What is the car worth TO YOU. Think about how long you will own the car. Divide the $1,000 by that amount and you are left with a number (in months, years or decades) that the car is costing you "extra". Ask yourself is it worth it.

Get the maintenance records and Data Dump (if you know how to read it) and make your decision.
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post #5 of 35 (permalink) Old 03-24-2010, 06:46 AM
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A few stone chips shouldn't deter you from this car. It doesn't necessarily mean the car was tracked and so what if it has? Just get an independent assessment done if you are serious and that would include an ECU dump if you want to see how the car has been driven. I think the price says the seller is motivated to move it quickly. If someone else buys it at the asking price and you lose this specific car, would you be upset?

I think more people will be in the market for these cars as it's now spring and a new driving season in some parts of the country. So seasonal demand could be rising.

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post #6 of 35 (permalink) Old 03-24-2010, 06:51 AM
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the car has 4800 miles!!! just get it!!! if its never been in an accident and it drives well i wouldnt be worried even if it was driven hard!!

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post #7 of 35 (permalink) Old 03-24-2010, 07:13 AM
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the car was worth the 46 they originally wanted, and a deal at 42. get an ecu dump as suggested, and buy the car.

o7 exige s owner here. bought mine for 40 with 11k on it.
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post #8 of 35 (permalink) Old 03-24-2010, 07:21 AM
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Originally Posted by kanders2 View Post
The car has starshield yet the headlights already have rock chips in them, along with more normal rock chips on the front lip.
If you are referring to the front splitter as the front lip...since they are painted, 2007's should have star shield on the factory front splitter as well.

As for the rock chips in the headlights, I wouldn't be too worried if they aren't cracked or broken. Is so, they can be pricey.

Otherwise, the price is fair as long as it hasn't been in an accident or have any other damage. The data dump of the ECU would be helpful.

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post #9 of 35 (permalink) Old 03-24-2010, 08:22 AM
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By the way, the headlights are not covered by the Starshield. There are aftermarket headlight protection films, but not as OEM...




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post #10 of 35 (permalink) Old 03-24-2010, 01:30 PM
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If the car has a harness bar, then I'm sure it was tracked. I wouldn't worry about that though, the miles are low.

If the car has been taken care of by the previous owner, it should be fine. Since it is on consignment, I would ask to see the service records from the previous owner.

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post #11 of 35 (permalink) Old 03-24-2010, 03:02 PM
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If the car has a harness bar, then I'm sure it was tracked.
All Exiges with the Track pack comes with the harness bar. Doesn't mean it was tracked. My harness bar is where I mount my chase cam, I've never tracked it

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post #12 of 35 (permalink) Old 03-24-2010, 04:00 PM
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the car was worth the 46 they originally wanted, and a deal at 42.
+1
Low mileage, no accidents. Just entering prime driving season... That is a good price.
If you put aftermarket film over the headlights, especially tinted film... you aren't likely to even know there were rock chips.

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post #13 of 35 (permalink) Old 03-24-2010, 06:52 PM Thread Starter
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thanks for all the advice guys. We went in today and threw out an offer of $39.5k, and the salesman said he could probably get the owner to budge a little. He claims the owner won't go below $40k, and the dealer needs to make some money. The car is going in for a PPI and ECU dump tomorrow, so depending on how it goes, we'll see what the counter offer is from the owner. Her dad is willing to do $41k, so if the offer is above that we'll just tell them we are paying willing to d $41k cash and consider it sold.

what info do you get from the ecu dump?

also, where is the info on VIN numbers and option codes?
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post #14 of 35 (permalink) Old 03-24-2010, 07:08 PM
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Originally Posted by kanders2 View Post
thanks for all the advice guys. We went in today and threw out an offer of $39.5k, and the salesman said he could probably get the owner to budge a little. He claims the owner won't go below $40k, and the dealer needs to make some money. The car is going in for a PPI and ECU dump tomorrow, so depending on how it goes, we'll see what the counter offer is from the owner. Her dad is willing to do $41k, so if the offer is above that we'll just tell them we are paying willing to d $41k cash and consider it sold.

what info do you get from the ecu dump?

also, where is the info on VIN numbers and option codes?
VIN does not give any option codes. Options appear on the build sheet, but the VIN doesn't help. That would be way too tidy for Lotus.

ECU dump, two key areas are the 5 maximum revs, and whether or not it has standing starts.

rev limiter is 8000, with 1.5 second 'burst' to 8500 allowed. Lots of ECU dumps have 8800 or so. Mechanical overrev or overun? Dunno, but probably not a problem.

+9000 and you probably have a mechanical overrev (missed downshift). Could be problemmatic, and almost certainly would tank any remaining engine warranty, if any at this point.
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post #15 of 35 (permalink) Old 03-24-2010, 07:58 PM Thread Starter
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VIN does not give any option codes. Options appear on the build sheet, but the VIN doesn't help. That would be way too tidy for Lotus.

ECU dump, two key areas are the 5 maximum revs, and whether or not it has standing starts.

rev limiter is 8000, with 1.5 second 'burst' to 8500 allowed. Lots of ECU dumps have 8800 or so. Mechanical overrev or overun? Dunno, but probably not a problem.

+9000 and you probably have a mechanical overrev (missed downshift). Could be problemmatic, and almost certainly would tank any remaining engine warranty, if any at this point.
Ok, great. Thanks for the ecu dump info. The dealer should be able to show me the build sheet right?
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post #16 of 35 (permalink) Old 03-24-2010, 08:37 PM Thread Starter
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does the 07' exige S come standard with the track pack? is the harness bar a good indicator that it does have the track pack?
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post #17 of 35 (permalink) Old 03-24-2010, 09:28 PM
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Originally Posted by kanders2 View Post
thanks for all the advice guys. We went in today and threw out an offer of $39.5k, and the salesman said he could probably get the owner to budge a little. He claims the owner won't go below $40k, and the dealer needs to make some money. The car is going in for a PPI and ECU dump tomorrow, so depending on how it goes, we'll see what the counter offer is from the owner. Her dad is willing to do $41k, so if the offer is above that we'll just tell them we are paying willing to d $41k cash and consider it sold.

what info do you get from the ecu dump?

also, where is the info on VIN numbers and option codes?
I understand the desire to pay the least possible for the car and if you can get it for that great!

But is your limit because you think that is what the car is worth or because that is all you can afford to pay? Don't feel you have to answer that question BTW - but if it is the latter just make sure you have enough reserves to run the car (no sense buying a car you can't afford to put new tyres on!)

All the best with your negotiations

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Ok, great. Thanks for the ecu dump info. The dealer should be able to show me the build sheet right?
If they are a Lotus dealer - probably - otherwise doubtful unless the original owner has left them with the car.
Lotus will be able to provide the information though if you ask nicely

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does the 07' exige S come standard with the track pack? is the harness bar a good indicator that it does have the track pack?
No - many aftermarket harness bars out there.
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post #18 of 35 (permalink) Old 03-25-2010, 09:15 AM Thread Starter
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I understand the desire to pay the least possible for the car and if you can get it for that great!

But is your limit because you think that is what the car is worth or because that is all you can afford to pay? Don't feel you have to answer that question BTW - but if it is the latter just make sure you have enough reserves to run the car (no sense buying a car you can't afford to put new tyres on!)

All the best with your negotiations


If they are a Lotus dealer - probably - otherwise doubtful unless the original owner has left them with the car.
Lotus will be able to provide the information though if you ask nicely


No - many aftermarket harness bars out there.
It's not me buying, it's my Gf's dad. He is old and wise and he's had a lotus before, so he should know what he's getting into I think $50k would be pushing it for him, but the wife only wants to spend $38k so thats where the need for a good deal is coming from .

I'll have to call the dealer and see. The car was orginally sold new here in portland at motocorsa, so i could call there too right?

What is a good way to tell if it has the track pack just by looking at it?
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post #19 of 35 (permalink) Old 03-25-2010, 09:29 AM
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Not all Lotuses have starshield so don't assume anything in that regard. In 2007, the harness bar was part of the track pack. So if it's got one that looks factory installed (I.e. No big holes in the interior panels where it connects to the chassis) it likely has the track pack. Adjustible shocks are another clue.
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post #20 of 35 (permalink) Old 03-25-2010, 10:42 AM
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It's not me buying, it's my Gf's dad. He is old and wise and he's had a lotus before, so he should know what he's getting into I think $50k would be pushing it for him, but the wife only wants to spend $38k so thats where the need for a good deal is coming from .

I'll have to call the dealer and see. The car was orginally sold new here in portland at motocorsa, so i could call there too right?

What is a good way to tell if it has the track pack just by looking at it?
Tell your GF's parents to not limit themselves on location if they really want an Exige. There's a couple out there for sale at around that price from private party and one of them is a member here.

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