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Discussion Starter #1
Read on the www.seloc.org site that the Federalized Elise is expected to price out at 28,000 pounds over there. Went to www.forex-markets.com and noticed that the dollar had hit $1.8108 against the pound and that would translate to a cost of $50,702 U.S. Dollars necessary to equal the 28,000 pound figure. P.S. - There doesn't seem to be many who feel that this will get better soon and looks like the Elise will really jump up and bite
buyers when Lotus comes out with the new price in 2005. We're getting (this year) a 'bloody bargain'!
 

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Discussion Starter #3
agent.5 said:
But I think UK pricing includes VAT.
Maybe someone can give us all the info comparing the total cost for both. I still think we will come out much higher to match their figure. Where are all the pencil-pushing geeks when we need them!
 

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I don't have the data. Maybe someone else can help. But VAT is high, like 20%. So, a 40K car plus 20% tax equals 48K. I don't know if UK charges the same for destination ($800 or so).

Of course, here in the State, one needs to add all the tax, license, and dealer bullshits.

I think the base price (not including taxes) will be close.
 

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The UK guys should be able to tell us. The number that comes to mind is 17%, not sure if they have anyother fees (reg, lic etc). For us a good rule of thumb add 10% to the price, for the out the door number.
 

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Discussion Starter #6
LarryB said:
The UK guys should be able to tell us. The number that comes to mind is 17%, not sure if they have anyother fees (reg, lic etc). For us a good rule of thumb add 10% to the price, for the out the door number.
- we alos need to find out what that 28,000 pound figure
totally covers?
 

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UK car prices don't usually translate to US prices at all. A base Celica costs 16513 sterling which is almost $30,000 US. A 1.4L Ford Focus base car costs 10995 pounds, so that's nearly $20k US. The UK prices are the smallest prices on the car makers' website.
 

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Pretty sure it covers the VAT (value added tax) along with the car. We may need someone from across the pond to find out if there's anything else. It may not be a direct translation of price then again the other examples were Toyota and Ford in the UK. For the Lotus it's in the home market compared to what there selling for in the USA.
 

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I think based on their cost of living and all (don't know what it's called in accountant-speak) they are probably paying less for the car than we are. Since I can't quite put it into words, I'll give an example.

A hamburger over there when I visited (approx $1.7 to 1# at the time) was still priced at about 4-5 pounds, which seems to be about what we pay. Yes, with the exchange rate, it's a 9 dollar burger at McDs for us, but for them it's like us buying a 4-5 dollar burger over here. Hope that makes sense. Hmmm.

In other words, for them, purchasing a 28K car in pounds feels pretty close to us purchasing a 28K car in dollars.

I could be wrong. I was a history major.

Cade
 

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Discussion Starter #12
$39,985 U.S. Dollars going from here to
the Lotus coffers in Britain would turn
into 22,000 pounds @ the exchange rate of $1.81 Dollars = 1 pound. Meanwhile ,
they can get 28,000 pounds or that amount less 17.5% if VAT wasn't included in the original listed (Lb) price.
bringing the pounds figure to about 24,000 lbs. They are losing 4,000 pounds
on each U.S. sales compared to one they
would have in Britain according to my figures. Much more if VAT is in addition to
the 28,000 pound figure. -ridgeman-
 

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Comparing the UK minus VAT VS MSRP here, the UK is around $46k. Our starting price is $40k. Whats the margin on the Elise for Lotus (home market)? For the dealer 10-15%? It may be a good thing there bringing out the Fed version for the home market, were they can keep a very healthy margin (maybe thats part of the reason). I'd expect some next MY price creep for us.
 

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Well, I do know VAT is included in price... so that's just under 24K. I don't mean that Lotus isn't taking a hit on the car, I meant the average consumer over there is probably feeling like they're paying less than the average consumer over here would be paying. It'd be like me buying an s2000... that sort of price range.

Oh, and the options over here bump it up considerably, so it's right there with what they're paying.

Cade
 

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Discussion Starter #15
MotorCade said:
Well, I do know VAT is included in price... so that's just under 24K. I don't mean that Lotus isn't taking a hit on the car, I meant the average consumer over there is probably feeling like they're paying less than the average consumer over here would be paying. It'd be like me buying an s2000... that sort of price range.

Oh, and the options over here bump it up considerably, so it's right there with what they're paying.

Cade
the 28,000 pound figure I read about on SELOC was for
a base model car. Options would be more-ridgeman- P.S.- on that forex-market site they said the $1.8103 US would, almost certainly be
going to $2.00 -
 

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LarryB said:
Comparing the UK minus VAT VS MSRP here, the UK is around $46k. Our starting price is $40k. Whats the margin on the Elise for Lotus (home market)? For the dealer 10-15%? It may be a good thing there bringing out the Fed version for the home market, were they can keep a very healthy margin (maybe thats part of the reason). I'd expect some next MY price creep for us.
UK price (assuming Ridge's $50,000 USD approximation) minus VAT would be a whole lot less than $46K. It would be a little less than $43K. So, after price gouging, we're about equal. :D
 

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With the numbers Ridge posted, it's exactly $43150.98 before tax. Not a huge difference, considering how much exchange rates fluctuate.

About the difference in living cost, it all depends on how you measure. The Big Mac index that Cade uses is simple, but there's more to life than fast food! ;)

Also keep in mind that there are huge differences within the US. According to a salary calculator I found, living costs in San Francisco are 88% higher than where I currently live, and 116% higher in Manhattan. In other words, buying a $40000 car for me is like buying a $75200 car for somebody in San Francisco, or a $86400 car for somebody in NYC.
 

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I live in San Francisco, and I can promise you the cost of living index is a joke. It really depends on your lifestyle. If you buy everything online and Ebay, you don't pay sales tax. If you eat out a lot, San Francisco's restaurant is actually cheap compare to the rest of the country.

A big part of the index is the housing cost. A typical 3 bedroom house here is about $600K, compared to about $90K in Florida. So, as long as one have a place to live, preferrably rent control, the cost of living (less housing) is not that big of a difference.
 

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Yes, housing is certainly the biggest part. But you need a place to live, unless you want to sleep in your car. And once you're used to owning a house, renting is not an attractive option.
 
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