Is it normal for Lotus's to be slow to sell ? - Page 2 - LotusTalk - The Lotus Cars Community
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post #21 of 33 (permalink) Old 07-12-2019, 11:08 AM
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There is a very small market, and getting smaller. These used to be a performance bargain, but many used Audi TTs, M2s, Cayman/Boxsters even Camaros have similar or better performance (on paper at least). Plus, all are more plush and could be used as a daily driver. You have to really WANT an Elise for some combo of looks, heritage, light-weight (it really does make a difference), exclusivity, whatever. There are better cars for the price, just no better toys. The market seems to be sitting at about $30K average, less if it has issues/milage, or more if it is particularly clean, low-milage, etc.

Then there's buyers. It has to be yellow, under 25K miles, with a hardtop and for only $23K because someone on the Internet got a rebuilt one for that </eyeroll>. I found an awesome one and probably paid a couple of grand too much, but it was ultra clean and needed very little. So far it has been perfect.
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post #22 of 33 (permalink) Old 07-15-2019, 06:04 PM
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Originally Posted by robert.mcdaniels View Post
There is a very small market, and getting smaller. These used to be a performance bargain, but many used Audi TTs, M2s, Cayman/Boxsters even Camaros have similar or better performance (on paper at least).
I agree. Very small market. The appeal of these cars is extremely narrow. They are completely impractical and a purists choice. I had 2 Exiges and never felt comfortable driving them on a regular basis. I bought it as a track toy but thought I would use it on the road once in a while and never did. Too flashy, too loud, too small amongst large SUVs to feel safe, lousy AC, lousy stereo, etc. As a seller, I was willing to be patient. It took me a year to sell my last Exige, but I wasn't going to take $3K under my ask when that was 2 years worth of insurance to allow me to enjoy it longer. I didn't need to sell and was happy to just keep it and use it another year. I sold it for almost exactly my ask when the right buyer (another track guy) came along.
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post #23 of 33 (permalink) Old 07-16-2019, 12:28 PM
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I rebuilt my 2006. Lot of fun, and frustrating too. Went with used parts as much as i could where it made sense. I really enjoyed it and wouldnt' trade it for anything. But dont have that kind of time anymore

Quote:
Originally Posted by the1tonton View Post
Cheapest I have seen is this one ----> https://www.siennamotors.com/invento...VC11167HL82684

And that dealer is advertising 35k AFTER a 2k deposit. Kinda shady pricing plus all their unknown fees of probably 3k+ for a REBUILT title one.

Every other one i see on AutoTrader is listed for over 50k.

Maybe I am just trying to convince myself that i am making a wise decision rebuilding my 2007 Exige S and spending tons of $$$ on all new oem parts lol

2011 Mini Cooper S - ardent red body/monaco white roof
2006 Lotus Exige, Aspen White:
date purchased - March 2012
date married - Sept 15,2013
date wife found out about Lotus - Sept 14,2014
date wife sat in Lotus - Sept 2015

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'07+ MP62 Supercharger retrofit w/VF S2 tune + RLS IC/Tubes,Walbro 255 fuel pump,Stage 2 exhaust, '07 body,Odyssey battery,Gauge cluster refresh
Chuck Risen's audio/interior system + fully integrated British voice "Kate" giving the GPS directions
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post #24 of 33 (permalink) Old 07-16-2019, 12:32 PM
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when you're not looking for car parts, you're wondering how crazy you are vs. how crazy you appear to those around you.

Be prepared for a lot of these:
When you are done, you will get a lot of these:


Quote:
Originally Posted by the1tonton View Post
Cheapest I have seen is this one ----> https://www.siennamotors.com/invento...VC11167HL82684

And that dealer is advertising 35k AFTER a 2k deposit. Kinda shady pricing plus all their unknown fees of probably 3k+ for a REBUILT title one.

Every other one i see on AutoTrader is listed for over 50k.

Maybe I am just trying to convince myself that i am making a wise decision rebuilding my 2007 Exige S and spending tons of $$$ on all new oem parts lol

2011 Mini Cooper S - ardent red body/monaco white roof
2006 Lotus Exige, Aspen White:
date purchased - March 2012
date married - Sept 15,2013
date wife found out about Lotus - Sept 14,2014
date wife sat in Lotus - Sept 2015

Mods:
'07+ MP62 Supercharger retrofit w/VF S2 tune + RLS IC/Tubes,Walbro 255 fuel pump,Stage 2 exhaust, '07 body,Odyssey battery,Gauge cluster refresh
Chuck Risen's audio/interior system + fully integrated British voice "Kate" giving the GPS directions
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post #25 of 33 (permalink) Old 07-16-2019, 12:45 PM
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Quote:
Originally Posted by Niral_Xige06 View Post
when you're not looking for car parts, you're wondering how crazy you are vs. how crazy you appear to those around you.

Be prepared for a lot of these:
When you are done, you will get a lot of these:
Thanks I think most people who buy these cars a little off, myself included. Since I bought it to keep and not to flip it is harder to finish since I am not cutting any corners.
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post #26 of 33 (permalink) Old 07-16-2019, 01:43 PM
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I've been researching for about a year and a half now and to me it looks like the market is slowing down a bit. There are some really nice cars that don't appear to be selling. The ones at the dealers are usually overpriced especially once you factor in the extra fees they tack on. I've seen a few that I like that are being listed on here but once I add in shipping costs and/or time away from home to pick-up and not really being able to test drive and inspect the car first then they become harder to justify. As a seller I think you either have to get lucky with a local buyer (which makes the money transfer much easier) or really make it worthwhile for a non-local buyer (have the exact color, mileage/condition, mods, price that someone is looking for).
Heck a Exige S240 sold today on BaT for just under $38K. It needed a little TLC but that is a low low price. An Elise was only bid up to $26k.
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post #27 of 33 (permalink) Old 07-16-2019, 06:17 PM
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I don't know if I overpaid. I wanted a chrome orange sport/track pack Elise in stock condition to autocross in SCCA AStreet. My semi-self imposed limit was 33K,.. but for me to get the track pack would have cost extra over touring or base... so, that became a deciding factor. Color was still up there, but being in San Diego helped as So Cal has a lot, but yet is so far from the rest of the nation. I really only decided to look, then purchase over a span of about 2 weeks... I ended up with a nightfall blue one that appears to have been well loved by the owner. (Having Randy Chase both consult and answer questions via PM probably helped alot..)

PLUS, it was almost an omen that as I was driving away from my ATM to head up and look at the Elise, I pulled up to an Evora at the light that had passed I did not see go by. I then asked what year and then said I was on my way to look at an Elise! Thumbs up from Both of us... I then went and bought it...
Is there an Evora here that was driving through Oceanside, CA 2 weeks ago?!

.
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post #28 of 33 (permalink) Old 07-16-2019, 08:46 PM
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Originally Posted by 6TVRs+ View Post
I don't know if I overpaid. I wanted a chrome orange sport/track pack Elise in stock condition to autocross in SCCA AStreet. My semi-self imposed limit was 33K,.. but for me to get the track pack would have cost extra over touring or base... so, that became a deciding factor. Color was still up there, but being in San Diego helped as So Cal has a lot, but yet is so far from the rest of the nation. I really only decided to look, then purchase over a span of about 2 weeks... I ended up with a nightfall blue one that appears to have been well loved by the owner. (Having Randy Chase both consult and answer questions via PM probably helped alot..)

PLUS, it was almost an omen that as I was driving away from my ATM to head up and look at the Elise, I pulled up to an Evora at the light that had passed I did not see go by. I then asked what year and then said I was on my way to look at an Elise! Thumbs up from Both of us... I then went and bought it...
Is there an Evora here that was driving through Oceanside, CA 2 weeks ago?!

.

Sure you could over pay for an Elise, but it is a lot harder to find and buy a great one then it is to get a bad one for cheap. So even if you overpaid 5k, look the other way. It. was. worth. it.
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post #29 of 33 (permalink) Old 07-17-2019, 07:00 AM
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My personal experience and opinion- as some members suggested we might overpay. Yes, I did overpay. Since I’m no mechanic and no intention to become one at the age of 53 I was looking for a ‘healthy’ low-mileage and trouble-free Elise. I’m located in Toronto and couldn’t buy one in the U.S. Took me more than a year to find a 2007 Elise with 26K km, first owner selling via dealership in Montreal. No track history, accident free. And yes, I overpaid for all this (CAD 50K) plus local taxes, transporting the car to Toronto, and installing a new radiator in order to avoid mishaps with the original radiator... Love the car but disappointed that can’t serve me as a daily driver in the summer. Not practical.
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post #30 of 33 (permalink) Old 07-17-2019, 07:30 AM
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Originally Posted by onboost91 View Post
I've been researching for about a year and a half now and to me it looks like the market is slowing down a bit. There are some really nice cars that don't appear to be selling. The ones at the dealers are usually overpriced especially once you factor in the extra fees they tack on. I've seen a few that I like that are being listed on here but once I add in shipping costs and/or time away from home to pick-up and not really being able to test drive and inspect the car first then they become harder to justify. As a seller I think you either have to get lucky with a local buyer (which makes the money transfer much easier) or really make it worthwhile for a non-local buyer (have the exact color, mileage/condition, mods, price that someone is looking for).
Heck a Exige S240 sold today on BaT for just under $38K. It needed a little TLC but that is a low low price. An Elise was only bid up to $26k.
I was looking at that 240 on BAT too. It is crazy how some people let their cars go. The salvage title one i just bought was cleaner than that car after we got all the auction dust off.
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post #31 of 33 (permalink) Old 07-17-2019, 08:03 AM
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I overpaid in 2010. Even with the market rightsizing I can sell it for what I paid. That includes taking about 10k worth of bling off. so in essence the car has not gone down in price in the 9 years I have owned it.

I agree that I would not have time to recreate what I have. I could not put that amount of time into it again. So good fortune and God willing I can just hold onto it awhile longer.

I laugh when I think I am done working on the Lotus, knowing that I just got a 1989 Jaguar XJS v12 back to life. In some ways I wish it wouldn't have ran because now I have to finish what I have started...

Someday I will do a proper build on the Exige! I think all the answers given to your question are correct.

L O T U S
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post #32 of 33 (permalink) Old 07-17-2019, 08:07 AM
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Originally Posted by the1tonton View Post
I was looking at that 240 on BAT too. It is crazy how some people let their cars go. The salvage title one i just bought was cleaner than that car after we got all the auction dust off.
That Exige used to be local to me and the owner had many problems with it over the years. Maybe it's all been rectified at this point but I wouldn't have touched it.

2005 Nightfall Blue Elise: Sport, Touring, Quantum Zeros, Pro Alloy, BWR De-Cat, Stage II, BOE Torque200 tune
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post #33 of 33 (permalink) Old 07-17-2019, 08:09 AM
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If I didn't have mine already, I'd be looking hard at the incoming yellow 2006 Elise on Inokinetic's website. They will do thoroughly check out the car and do the prep to make it "fresh" before selling it. The price is not bad at all, I think the selling price will be 35K, 19K miles if I remember correctly. I no longer have the email that shows info about the car.
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