[rwbronco]

take a look at the spreadsheet in my signature

Granted 2012 prices were cheaper than they are now - a guy got his 2005 salvage title for $20,000 and it had 45k miles on it. In 2010 (even cheaper prices than 2012) there was a guy who snagged a really good deal of $18,500 on a 2006 that had a salvage title and only 7k miles on it. Those are the only two salvage titles from the thread "How Much Did You Pay For Your Elise?" but it seems a bit high. I'd hit them at $22k and see where they go from there.

 

[dalhaze]

Wow what an insightful spreadsheet, thank you for sharing. There isn't tons of data there, but it does give an idea.

I feel if I can get some pictures that show the damage was light and to the outside of the car that would help with resell as well, i mean there is bound to be someone who comes along that places a higher value on the car because its appearance even though it is salvaged. I just don't want to have to sit on it 6+ months to sell it when the time comes.

Its a great looking car, one of my favorites online, i just can't justify 27k on a salvaged title. I was thinking about hitting him with 23-24k but maybe 22 would be a good starting point.

 

[doug_porsche]

I was thinking about hitting him with 23-24k but maybe 22 would be a good starting point.

:clap:

Minuses (in no particular order):
Not low millage (this is sort of a plus. You would have one less reason to NOT drive the car (And I have found that as fun as they are to look at, they are more fun to drive!))


Salvage Tile. This is not a show stopper, but never helps. The more documentation you have, the better, but many banks/insurance carriers/prospective buyers say guilty until proven innocent with the burden of proof on the seller.

You can find an 2005 for that price ($27K) with a clean title.



I will share the best automotive buying advice I was ever given.

"Buying a car is not an emotional thing, is a simple question: They have a car, you have a stack of money; want to trade?"

 

[ogravty]

My friend has a dealership and just sold a 2006 lotus Elise with 13,300 miles for 26k, with salvage title also. I saw the damage before hand and it wasn't bad at all. I think he just got another one.


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[Abe]

I know of silver w/red interior with 20K miles and can be bought for $25K. Obviously salvaged but I know the previous owner and the body shop that repaired it. The car is in CA if interested.

 

[aschen]

Yes

 

[dalhaze]

I know of silver w/red interior with 20K miles and can be bought for $25K. Obviously salvaged but I know the previous owner and the body shop that repaired it. The car is in CA if interested.

Any chance you can link me to a posting of the car?

I've seen a silver w/ red interior in San diego for sale which is where I am at.

More info please!

EDIT:I'll just PM you

 

[augustomf]

I just bought mine 2 month ago, rebuilt title, all fixed up, runs great, paid 22k+600 for transport.
I think between 23-25k you are good, above that gets expensive for rebuilt title.

Good luck

 

[ogravty]

My buddy is working on a 05 lotus Elise with 32k miles here in San Diego. Red exterior with brown interior. He is planning on asking around 24k once he is done in a couple of weeks. He sold his last one pretty quick.


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[GR82DRV]

It could be just as good as a non-salvage title car but the price will never reflect that. That is, if you decide to sell it later few if any buyers will care that you spent $27k and felt it was worth it.

On the other hand, you have a lot of leverage for what might be a good car with a few miles on it. The asking price is very high, so unless the seller is smoking something funny he shouldn't be surprised with an opening offer of about $18k (that seems to be the game he's playing). Frankly, I wouldn't go over $22k, even if everything else checks out.

Also, don't let him tell you that HRM adds much value. HRM (Hunting Ridge Motors) as I understand is just a dealer that fancied up some cosmetic applications on Lotus cars - most of which get mixed reviews.

 

[dalhaze]

It could be just as good as a non-salvage title car but the price will never reflect that. That is, if you decide to sell it later few if any buyers will care that you spent $27k and felt it was worth it.

On the other hand, you have a lot of leverage for what might be a good car with a few miles on it. The asking price is very high, so unless the seller is smoking something funny he shouldn't be surprised with an opening offer of about $18k (that seems to be the game he's playing). Frankly, I wouldn't go over $22k, even if everything else checks out.

Also, don't let him tell you that HRM adds much value. HRM (Hunting Ridge Motors) as I understand is just a dealer that fancied up some cosmetic applications on Lotus cars - most of which get mixed reviews.

Solid advice, Thank you sir!

"that seems to be the game he's playing" <<<< LOL I think you are right. I don't think he is in a rush to sell it necessarily.

It was listed at 30k but the first time we spoke he said he would be willing to do 27k, So i'm hoping I can get it down to a fair price.

 

[ogravty]

Dalhaze, text me at 619-764-2095. For some reason you are not able to receive PM's


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[GR82DRV]

Dalhaze, text me at 619-764-2095. For some reason you are not able to receive PM's


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You have to have 10 posts or more to send or receive PM's on LT.

 

[Aedo]

Dalhaze, text me at 619-764-2095. For some reason you are not able to receive PM's
[/color]

OP has less than 10 posts

 

[sturgeongeneral]

Wire wheel sells them for 23 to $25K. Rob does a great job, but car is priced high.

 

[onETon]

Walk away...

 

[oldmansan]

Walk away...

Inside info?

San

 

[lotus90]

Too high price IMHO 24k would be better

 

[glb]

It could be just as good as a non-salvage title car but the price will never reflect that. That is, if you decide to sell it later few if any buyers will care that you spent $27k and felt it was worth it.

On the other hand, you have a lot of leverage for what might be a good car with a few miles on it. The asking price is very high, so unless the seller is smoking something funny he shouldn't be surprised with an opening offer of about $18k (that seems to be the game he's playing). Frankly, I wouldn't go over $22k, even if everything else checks out.

Also, don't let him tell you that HRM adds much value. HRM (Hunting Ridge Motors) as I understand is just a dealer that fancied up some cosmetic applications on Lotus cars - most of which get mixed reviews.

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