I just bought my 05 last month. 31K miles and $30K. Finding one for sale, in decent shape, clean title, not in need of anything major and not run hard at a track is getting more difficult. I doubt they will go up in value, few cars do. But the price of a good Elise in my estimation will prob bottom out at about $30K. At least thats what I keep hearing on the street. I know of one 05 Elise in Addison TX with over 110K miles for sale. Clean car, seller wants $24K. I almost bought it instead.

 

If you go back a couple years, you'll see that you could've bought that same car in the low 20's. When I started shopping, salvage titles were in the 16-19 range. The prices are definitely rising, but many on here are quick to point out that these cars are emotional purchases, not investments. With that being said, it is easier to justify when you see prices on the up! Interestingly, the Elise prices seem to have bottomed out shortly after the economy did, and now they are rising with it so that surely has something to do with the increase in value we are seeing. My bet is that it will slow down soon or we will have our own "Lotus Bubble".


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I've definitely seen prices rising, but I've also seen prices rise on many other exotic/rare cars since 2011 and 2012. I remember looking at Gallardos for in the $70k range and F360's in the mid $50's when the economy was suffering. Now that the market has done so well since then, the demand is increasing, and therefore prices are also increasing.

For the Elise, I believe it's a combination of the relatively small number of cars in existence and the fact that they've been discontinued in the US. It's a small niche market that eventually finds its balance between supply/demand - and it'll likely stay around the high $20's to low $30's for an 05. Look at the NSX, which is still holding strong! I doubt the Elise prices will drop much more than they are at now, but only time will tell.

Graham

 

I agree with Graham, I was looking at used Gallardo's thinking I can't wait til I can get 80k together to get one... Now I need 100k for the same car. So a Lotus going up a few K does not really offset much, especially when I could have put my 27.5K into the market the day I bought my Elise and probably ended up with 40K instead of 2.5 years of awesomeness and 30K.

 

You have to remember though that price is driven by demand . As the prices rise the number of people shopping for them will drop off, forcing the prices to stabilize or decline again.

There are far fewer total Esprits on the road than Eliges, even with a 20 year run for the Esprit. Average selling price now for an Esprit, especially the pre V8 cars, factoring in inflation, is probably 33 cents on the dollar.

If you just go by the number on the road, when was the last time you saw a Mustang II on the road?

As to your point about clean, low mileage cars, you might expect your car to hold it's value or perhaps gain a bit if you keep yours low mileage. Do you plan on driving and enjoying your car? It has a shot at holding or gaining value only if you keep it a garage queen.

 

When i started looking 3-4 yrs ago - I found a '05, 18k miles - super clean, but 4 owner. Could have had it for $23,500 - guy was asking $26,000. Those days are gone. The first 4 owners were scared of hurting it - and the wives hated it.

 

Those days were gone when you found that car. It was the exception, not the rule.

 

These prices should rise more. I need an Exige!

Well that's only if I can start being smart and stop modding my Elise.

 

Well that's only if I can start being smart and stop modding my Elise.

My aluminum carpet buttons moved me away from stock. But I still have 3 of the 4 plastic ones.

 

You should allow 6-18 months to sell one of these.

 

If you just go by the number on the road, when was the last time you saw a Mustang II on the road?

I remember when Mustang II's were new cars and were universally despised by most everyone. The Esprit had a much longer run that the Elise/Exige in this country and towards the end was probably considered the object of desire for an older demographic. The Elise/Exige are cars that young people aspire to own someday, so as they grow up and start earning a paycheck, demand will remain strong.

Don't get me wrong - the Esprit is a nice car, but was considered by some as an also-ran in the supercar market. The Elise/Exige were/are unlike anything else we're likely to see on the market in the near future.

 

The esprit had a longer run but there were far fewer imported into the US than the elige. There were more Elise's sold in the US in its first year than Esprits in its entire 20 year run. Not sure where you came up with the esprit skewing towards an older demographic. Ask any of the esprit owners here what kind of attention their cars get, and the demographics of the folks who still drool over the car.

Right now young people lust after the elige because they can be had for $30k or so. The elige also has limited ownership appeal. Sure, everyone wants to take a picture, sit in one, ride in one...but own one? For most people it is a second or third car.

Remember, pent up demand for new was met after the first year. MY 2006 sales were half of MY 2005 sales. By 2011 they couldn't give them away.

The elige styling will at some point look dated.

 

The design of the elise is classic. It has the inherent lines of what a sports car invokes in the mind. The exige is that on steroids. I for 1 will never sell but I do believe they will become valuable in years to come. You look at dino's 68 vettes,opel gt's, the lines are all similar and that is what stands the test of time


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I figure it does not matter since i do not plan to sell

 

The Esprit is in a category with available examples from other marques. The Elise/Exige does not have any other marques offering an example. Let's see how the Alfa compares but, that's to be seen.

 

This thread occurs every year around this time as its when prices are at their peak. n 30K in Spring is 25K in fall. Its been this way for as long a car has been in existence. In other words if you're looking now, you should have been looking last fall!

 

The cars represent a value to a small but not insignificant number of people.
The Elige has exotic cache, impressive performance, distinctive looks and Toyota reliability of driveline. What else can you buy for this little that does all of that?

 

Main reason prices are slightly rising is the market/economy. All exotics are rising as well.
The super cars are going through a bubble. $1 mil Enzo's a year ago are now crossing the $2 mil mark. Same goes for the F40 which also has more than doubled in the last year.
So a couple thousand increase on a Lotus is like following a stock market graph.


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I bought a 2005 Elise two years ago and sold it very recently for a $3k profit. I put a couple of grand into upgrades but also removed some things of equal value (Stella Corse wheels) so overall the Elise is the best vehicular investment I ever made plus I got to have an ungodly amount of fun. You can't say that about a stock portfolio! I just hope my Exige value keeps going up!

 

good for you.
hope i can pull off the same when i decide to sell and upgrade. unfortunately the cost of upgrade (exige 240/260) are also climbing.

Thinking the evora might be a better direction with what i think is bottomed out right now.

 

Thinking the evora might be a better direction with what i think is bottomed out right now.

I think not. The differences are several, but Evoras are still being sold and each model year brings improvements. There is a finite supply of Elise/Exige models out there plus they are unique in the industry. The Evora is a very capable car, but the weight/performance is more in line with more mainstream vehicles such as Boxster, etc. I feel like they will continue to slide for a while, albeit at a slower pace than before.

Just my two cents...

 

Seems in general there is agreement that Elise prices are rising. Now if all us owners band together and agree to not let our cars go cheap, and just start asking more for them..............