Info on Fair Price for 2008 Elise - LotusTalk - The Lotus Cars Community
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post #1 of 27 (permalink) Old 03-01-2010, 10:35 AM Thread Starter
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Info on Fair Price for 2008 Elise

Hi,

I recently test drove an Elise and have the feeling that I am going to get one in the next little while.

The one I test drove however is a 2008 Elise SC. It has the Starshield, touring pack (leather seats and ipod hookup) and hard top. It is a demo model that has about 6000 miles on it. The car is new BUT used in car shows and test drives - so it has been opened up a few times on the test drives. No damage to exterior of car, tires are about 85 tread left.

I feel the asking price is too high but wanted a second opinion from experienced people. Here are my questions?

1) What would be a fair asking price for a 08 version of this car?

Based on answer above then these questions:

2) Am I better off buying a standard Elise with touring pack but no SC and then adding an aftermarket SC (like from Blackwatch)? Is there any significant differences from a stock SC or the aftermarket one?

3) I like the demo model Elise since it is the color I want and INTERIOR color (seems very few Elise out there have the interior I am looking for) but if the thing is overpriced from a fair price then my color options are limited. The other color choice is Storm Titanium Gray. If I get the gray exterior clolr I want to set myself apart from a stock color by detailing it with strips maybe... what color or exterior flare can I go with to make it look good?

Thanks
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post #2 of 27 (permalink) Old 03-01-2010, 10:46 AM
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Originally Posted by Chaotic_Cannon View Post
Hi,

I recently test drove an Elise and have the feeling that I am going to get one in the next little while.

The one I test drove however is a 2008 Elise SC. It has the Starshield, touring pack (leather seats and ipod hookup) and hard top. It is a demo model that has about 6000 miles on it. The car is new BUT used in car shows and test drives - so it has been opened up a few times on the test drives. No damage to exterior of car, tires are about 85 tread left.

I feel the asking price is too high but wanted a second opinion from experienced people. Here are my questions?

1) What would be a fair asking price for a 08 version of this car?

Based on answer above then these questions:

2) Am I better off buying a standard Elise with touring pack but no SC and then adding an aftermarket SC (like from Blackwatch)? Is there any significant differences from a stock SC or the aftermarket one?

3) I like the demo model Elise since it is the color I want and INTERIOR color (seems very few Elise out there have the interior I am looking for) but if the thing is overpriced from a fair price then my color options are limited. The other color choice is Storm Titanium Gray. If I get the gray exterior clolr I want to set myself apart from a stock color by detailing it with strips maybe... what color or exterior flare can I go with to make it look good?

Thanks
If it's a Lotus Cars USA vehicle, then it's referred as a press car which has been mored than opened up a bit by the press/media/executives/clients etc. but Lotus do have the vehicles inspected and service after each session.

Regarding price, what price did they quote you? A car like that had an MSRP of just under $60K including destination however, I've seen dealers advertising pre-owned for roughly around $46K.

Sure you can buy a N/A Elise and upgrade power but if you go aftermarket, you'll void certain parts of your warranty however, you can also get the factory SC install at your dealer and still keep warranty
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post #3 of 27 (permalink) Old 03-01-2010, 10:57 AM
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Fair price is what you're willing to pay for it, and how low the dealer is willing to go...

If this was a demo, the warranty on it might have already started ticking.

In terms of cost your best bang for your buck would be an 05 Elise with relatively low miles then adding a katana/bwr SC, which will produce around 15-20 more whp than the Lotus option, and is cheaper.

2005 Saffron Yellow Elise (Sold)
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post #4 of 27 (permalink) Old 03-01-2010, 11:23 AM Thread Starter
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The current asking price is $54,500, but the dealer said he can go down to $51,500 but I still think it is a bit too high with the mileage and being a demo model and all, and it is an 08 and not 09.

Like I said if I still feel it is over what I thought it should be then I will go for the Storm Titanium Grey colored one, but I would like to know if people out there have an exterior color detail that could spice it up and looks cool. I like to be different than a stock color. Any ideas?

I can add the dealer SC later if I feel I want the improved performance feel.
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post #5 of 27 (permalink) Old 03-01-2010, 11:30 AM
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One of the best things about an Elise is the completely changeable interior. If you don't like the door inserts and seats, you can sell them and buy what you want from Lotus or used. It seems like there is always someone here looking to buy seats and/or door inserts. So don't let the interior colour sway you one way or the other.

IMHO a demo car should not be worth as much as an owner car that has been loved and maintained carefully. You don't state what color the car is, outside or in. This actually does affect resale, and some colors are significantly more popular than others.

As for the supercharger, it's true, you can probably get more power for less money doing one yourself. Good luck, whatever you decide.

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post #6 of 27 (permalink) Old 03-01-2010, 11:34 AM
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Originally Posted by Chaotic_Cannon View Post
The current asking price is $54,500, but the dealer said he can go down to $51,500 but I still think it is a bit too high with the mileage and being a demo model and all, and it is an 08 and not 09.

Like I said if I still feel it is over what I thought it should be then I will go for the Storm Titanium Grey colored one, but I would like to know if people out there have an exterior color detail that could spice it up and looks cool. I like to be different than a stock color. Any ideas?

I can add the dealer SC later if I feel I want the improved performance feel.
Yeah, at $51K I'm almost positive that the dealer is using the extra money they received from Lotus in order to put the vehicle in demo status to bring their overall cost down at which point the dealer doesn't want to lose too much money after that. By the way, what do "you think" the price should be? You can find actual "used" Elise SC's for around $46K if that number is within what you feel it should be.

I've seen Storm Titanium's with red interior and even magnolia (cream color) but I like the biscuit interior the best...it brings out the beige/brown in the Storm Titanium colors
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post #7 of 27 (permalink) Old 03-01-2010, 11:38 AM Thread Starter
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Exterior Color is Red, with Red leather with black trim seats and red interior for the door inserts.

It looks really good. Much better than the boring tan interior color.

That is why if the Red colored demo was over priced compared to what others Have seen then I would get the car in the Grey with the red leather interior but get the grey offset with some sort of detail. Other option is to get it in British Racing Green, but that one has base seats only and needs the interior upgraded.

I tried looking through the forums here to see if I could buy the leather seats separately but I got lost in tons of threads. Just wanted to know a base price I was looking at.

Oh, and what color schemes for making a Grey Elise look sharp.
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post #8 of 27 (permalink) Old 03-01-2010, 11:47 AM
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Originally Posted by Demonized View Post
If this was a demo, the warranty on it might have already started ticking.
And because of that the true demo car warranties are longer than the standard 3 years.
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post #9 of 27 (permalink) Old 03-01-2010, 11:50 AM
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$51K?????

For that price, I'd pull the trigger on this car over that one in a New York minute. Better brakes, 20 more hp, intercooled SC...all around better car with half the miles. If you want open top, $500 for a used soft top an about an hour of your time and youv'e done the soft top conversion.

https://www.lotustalk.com/forums/f94/...0-miles-84370/

BTW I do not know the owner, but my Exige is the same color!

And don't judge Canyon Red by this picture, it is a stunning color that evokes unsolicited compliments from everyone who sees it, even folks who don't like cars! Canyon Red actually has a fair amount of gold flake in it. In sunlight there is nothing like it.

Last edited by 4380r; 03-01-2010 at 12:08 PM.
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post #10 of 27 (permalink) Old 03-01-2010, 12:19 PM Thread Starter
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The one I was looking at is Ardent Red. Canyon red is better?

Never seen one close up.
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post #11 of 27 (permalink) Old 03-01-2010, 12:35 PM
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Quote:
Originally Posted by Chaotic_Cannon View Post
The one I was looking at is Ardent Red. Canyon red is better?

Never seen one close up.
Ardent is nice, I had an Ardent Elise. Canyon is something else altogether. A bit less 'orangey' than Chili Red, but with the metallic same basic idea. A nice, dark red with gold in it. In sunlight it really pops out, that's why that picture really doesn't do it justice.

This picture isn't much better, but it will give a better idea. I have a pic by a professional photographer I can post later that is much better.
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post #12 of 27 (permalink) Old 03-01-2010, 12:48 PM
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To be honest, Canyon Red was my first choice of color. But it's not easy to find. I had to settle for Ardent Red which I'm still happy with.

2007 Ardent Red Lotus Exige S
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post #13 of 27 (permalink) Old 03-01-2010, 12:52 PM
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Thanks lotusforsale for promoting my canyon red exige for sale. I'm hoping to post more pictures tomorrow if the weather will cooperate. Yes, pictures don't do the color justice. I wasn't a big fan of red before but I wouldn't pick another color if I had a chance to choose a different color.
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post #14 of 27 (permalink) Old 03-01-2010, 02:15 PM
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Used 2008 Elise SC with 6000 miles on it should sell for $42k to $45k depending on options and color. Nice white one on eBay with 2000 miles and they want $43.9k for it. Demos scare me because it's like a rental car, people beat the crap out of it. Run away, don't walk, at that price. IMHO.

Also, 2011 Elises are going to be in showrooms (in England at least) in April. Then the 2008 will be 3 model years old. 2011 model looks great too! Mainly a clean up and freshening but nice small changes. Still, used is a great way to go.

Find White one here for example of pricing:
http://cgi.ebay.com/ebaymotors/2008-...#ht_8503wt_953

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post #15 of 27 (permalink) Old 03-01-2010, 03:28 PM
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Used 2008 Elise SC with 6000 miles on it should sell for $42k to $45k depending on options and color. Nice white one on eBay with 2000 miles and they want $43.9k for it. Demos scare me because it's like a rental car, people beat the crap out of it. Run away, don't walk, at that price. IMHO.

Also, 2011 Elises are going to be in showrooms (in England at least) in April. Then the 2008 will be 3 model years old. 2011 model looks great too! Mainly a clean up and freshening but nice small changes. Still, used is a great way to go.

Find White one here for example of pricing:
Lotus : Elise : eBay Motors (item 400104500114 end time Mar-01-10 07:20:39 PST)
I spoke to one of the sales guys their a couple of weeks ago but he wouldn't budge from $45K
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post #16 of 27 (permalink) Old 03-01-2010, 03:31 PM
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And because of that the true demo car warranties are longer than the standard 3 years.
Yes, 3 months longer from the time they registered it as a demo.

To OP, if you purchase a demo, make sure you know when the dealer put into demo service.
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post #17 of 27 (permalink) Old 03-02-2010, 12:31 PM
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Well, I'm new to the forum here. I bought a new 2000 Esprit V8 in 2001 and just recently bought a new 2008 Elise SC from an authorized dealer. It has several options: Touring and Sport packs, (factory) Starshield, hard top and phantom black paint option. As it's new and untitled, I also got the full warranty with it.

As for price, under $49K... I have no idea why anyone would buy a demo model, much less at such a high price. As posted previously... RUN!

Regards, KM

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post #18 of 27 (permalink) Old 03-02-2010, 12:52 PM
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6k seems like kind of a lot of miles for a demo? I'm not a dealer though, maybe someone else could chime in there. I wouldn't be afraid of a demo with lowish miles on it though, for the right price, ie private party value or some discount on what the dealer would normally ask for the equivalent car.
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post #19 of 27 (permalink) Old 03-03-2010, 04:43 AM Thread Starter
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Well I was mistaken, it has about 2800 miles on it.... I got mixed up in another test drive of a car earlier in the day.

But still this car is a demo and has been for some time. The dealer told me it comes with full warranty but I am weary since the demo will have been thrown around the area on test drives over and over.

It is the only red one in the area that is new (newish)
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post #20 of 27 (permalink) Old 03-03-2010, 04:46 AM
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Originally Posted by Chaotic_Cannon View Post
Well I was mistaken, it has about 2800 miles on it.... I got mixed up in another test drive of a car earlier in the day.

But still this car is a demo and has been for some time. The dealer told me it comes with full warranty but I am weary since the demo will have been thrown around the area on test drives over and over.

It is the only red one in the area that is new (newish)
I'd get some kind of confirmation on the warranty...get the dealer to provide documentation as to in service/warranty expiration date from Lotus USA. Dealers have been known to mis state warranty issues.

Also, just 'cause it's a demo doesn't mean it's something to walk away from. You think it's been beat any more than any other used car you'd buy????

To me, the price is just stupid for what it is. Stupid as in not good. THAT'S what I'd walk away from.

I think the telling statement is that it's 'the only one in the area that's red...'

If you are confining your search to a specific color AND a specific area, you've taken away most of your leverage in what is otherwise a buyer's market. These cars exist in few enough numbers to begin with...by insisting on buying only locally, you are truly at the mercy of the local market.
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