The Lotus Cars Community banner

1 - 20 of 50 Posts

·
Registered
Joined
·
970 Posts
Discussion Starter #1
assuming you paid 46K for it right now will all the options, what do you think the resale value will be 3 yrs from now??. I know Lotus did have terrible resale value in the past and their quality has always been questioned , but do you think this will still be the case for the federalized Elise?. Afterall, the engine should be alot more reliable and they do claim to take quality assurance alot more seriously now...any thoughts?
 

·
Registered
Joined
·
1,000 Posts
I expect the Elise to depreciate like any other car. Maybe market demands may command a bit of a premium in the beginning though.

So then the arguement might be: "Why pay full price now when you can get an Elise 3 years from now at a healthy discount?" My answer is that it's worth it (to me) to pay full price to have an unmolested car. An Elise is not a Camry. Most people who drive a Camry will not abuse it. An Elise encourages very sporty driving and I'm sure the suspension and engine will be well excersized. To me, it's worth it to ensure that I'm the person that has driven the car briskly and know it's maintenance history intimately.

Bob
 

·
Registered
Joined
·
3,577 Posts
I think that there will be a premium (at least little-no depreciation) on the car so long as there is not a new car sitting in the showroom ready for purchase at/near MSRP.
If supply catches demand then I would think that the car will sell very much like the Mini, which has an amazing resale value, but still depreciates. Another example of this is the VW Jetta Wagon TDI. They're quite hard to find new, and often come with a premium from the dealerships. Nice used examples have been known to sell for near MSRP even after two years of ownership (Esp. to Californians that can't but them new). That said, they're getting easier to find and now the prices are dropping to more reasonable levels.
 

·
Registered
Joined
·
3,577 Posts
I should add that I also think that the long-term depreciation of the Elise will be less than most other cars. The average Elise is going to be driven hard and tracked/raced. The Aluminum chassis is known to suffer fatal damage in relatively light collisions. Attrition could make the 'waiver cars' as the first couple of years' production might become known quite rare.

*** Edit to fix stupid spelling error. ***
 

·
Registered
Joined
·
1,744 Posts
Long term I foresee the Elise becoming a classic. It has all the common ingredients of a future classic; rare, different, sharp looks. Also the fact that it will change and most likely get heavier with the 2007 MY should make the current model highly desirable.
 

·
Registered
Joined
·
7,610 Posts
In three years, we could be seeing the next generation Elise. Historically, values drop when a new model comes out.

As for waiting two to three years to get a good price on an Elise, I could be dead in three years. ;)
 

·
Forum Founder
Joined
·
29,083 Posts
$47,000 now.

$36,000 in three years.

$11,000/3 = $3.6k per year. A Bargain.
 

·
Registered
Joined
·
495 Posts
Long term I foresee the Elise becoming a classic. It has all the common ingredients of a future classic; rare, different, sharp looks
Different, yes. Nowhere near 'rare,' and lines are not classic, so hard to say whether it will be considered beautiful in the future.

Nobody knows how this car will depreciate, but I wouldn't count on it holding value well. I fully expect it to drop like a rock, but I still want one.
 

·
Registered
Joined
·
2,269 Posts
Since we can only 'realistically' expect a total of about 6,000 cars roaming the U.S. in three years they will be gobbled up as soon as they hit the used-car market with depreciation being very slight in my estimation. It's the old 'supply and demand of a highly desirable
product' that will keep the price up. If you could have seen the reactions of people at the NY Auto Show, especially the young guys, you would know what I say
is true. I base this on the premise that production remains at no more than 2,400 per year, meaning waiting-lists of at least a year being the order of the day , three years from now. You see this car in person and it is orgasmic, especially when there's a lot of testosterone heating up in onlookers.
 

·
Registered
Joined
·
495 Posts
Thanks, Chris.

Would love to tour the Ducati factory myself. Have to keep that on my list of 'to do's'

That and Stelvio pass...
 

·
Registered
Joined
·
2,195 Posts
Your best bet is to track what the leasing companies are predicting for residuals. They make their business off estimating resale values, so they have an interest in guessing correctly.

As for 'collectable', I think it's funny that the most valuable old junk is the stuff least likely to be collected. Old PEZ dispensers, ancient CocaCola bottles, Disney sketches.. the corny/passe stuff you're throwing out now is the most likely thing to fetch a fortune on eBay fifty years from now.

The biggest depreciation hit I'm going to take on the Elise is the dealer's "market adjustment" premium. That's burned as soon as I drive off the lot. It's hard to swallow.

And remember, the only way to take a big loss is by putting too FEW miles on it. You pay $1/mile for the first 45,000 miles, and the rest are free. :)
 

·
Forum Founder
Joined
·
29,083 Posts
James A said:
History with Lotus says it will be lousy! Look at about any Lotus and you'll see.
But history would be more relevant if Lotus previously imported car that had this much demand, and where it's doubtful it will be easy to get one a year from now, or even two.

A lot of the old Lotuses are sure cool cars, but I am sure they didn't have the crowds, the excitement, the media attention.. that the Elise has.

The question is if the clamor and demand will die down disproportionately, or if a newer/better car will be available in that time frame and price point.
 

·
Registered
Joined
·
7,610 Posts
One other factor that would set the Elise apart from it's predecessors is the internet. Back then, you didn't really hear much of the Elan, or Espirit useless you read a car magazine, or watched a James Bond movie or "Pretty Woman." Now, even MSN shows the Elise on it's main page once in a while.

If Lotus was internet savy, they really could have used it for free publicity and customer relations.
 

·
Forum Founder
Joined
·
29,083 Posts
Allan Gibbs said:

If Lotus was internet savy, they really could have used it for free publicity and customer relations.
Free publicity and free customer relations???

Welcome to EliseTalk! :) :)
 

·
Registered
Joined
·
6,802 Posts
Yep,
the m100 Elan is the only modern era Lotus that's held up fairly well in terms of it's real world price when new (not what Lotus had hoped to get for it, ie 26,500 vs 42,500)
Chris
 

·
Registered
Joined
·
970 Posts
Discussion Starter #19
Randy Chase said:
But history would be more relevant if Lotus previously imported car that had this much demand, and where it's doubtful it will be easy to get one a year from now, or even two.

A lot of the old Lotuses are sure cool cars, but I am sure they didn't have the crowds, the excitement, the media attention.. that the Elise has.

The question is if the clamor and demand will die down disproportionately, or if a newer/better car will be available in that time frame and price point.

I would agree with you but objectively speaking, the other Lotus cars imported to US in the past have been imo ugly and not very inspiring. The Elise is the first car that will appeal to the masses imo. The Elan and Esprit might be decent cars, but they are not well liked by most. The sales numbers validate my opinions. The current Esprit looks very dated and the interior is a joke. And yes the interior does matter when a car costs 100K. I think Lotus will turn the corner with the Elise as far as reliability, resale value, customer support. With Proton backing, while they will cont. to have small co. values with respect to the spirit and performance aspirations of the Chapman mindset, everything else will change. They actually want to make some money this time!...:)
 

·
Registered
Joined
·
592 Posts
The answer to this question will come when the early adopters are satisfied. If the limited number of Elise's continue to be in short demand in 2-3 years, then the car will maintain a decent value. However, I think it is likely in 2-3 years you will be able to walk into a Lotus dealer and drive off with a car.

Plusses:
High desireablility (now)
Fantastic performance
Limited production
Looks
Toyota engine
Will have to be superceeded in 2007 by a US compliant design that may be less desireable

Minusses:
Limited market
Fantastic performance will be utilized by owners :D
Looks
Lightweight design means it will not be as durable as a typical car. Early Lotus (i.e. Elan, Europa) age very poorly and take quite a bit of maintenance. But they are still desireable today.

This car will depreciate, its anyones guess how much. My opinion is if you are buying this car with the expectation to recoup a significant portion of your purchase price you are taking a huge risk. Don't base your valuation on this board. We are all fanatics. If you look in the new Autoweek, their Fast Poll on the Elise has more negative comments than positive. I would assume (hope) this is in proportion to the comments they receive.
 
1 - 20 of 50 Posts
Top