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Discussion Starter · #1 ·
Check out this graph from BAT.
Is this sustainable?
I just bought a 2005 w 8k miles for $48k. Seems like just about a year ago it would have sold for $38k.
Are values going to continue to go up?
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No one really knows for certain. Used car values in general are insane. In the Tesla groups I'm in, many are choosing to sell their cars immediately after receiving them for 10 to sometimes 50 thousand over MSRP. I sold my 2.5 year old, 25k mile base Model 3 for 8k more than what I paid, to a dealership who went and sold it to auction. I could've gotten maybe 12k more than what I originally paid for it had I sold it private party.
 

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I think anything you see on the chart you posted less than $25k was a salvaged title. They were steady at $28-35k for years. The incoming tide rises all boats, but our cars are truly unique in what they offer and at what time in auto history they sit. It’ll be interesting to see if they are the next Dino.
Personally I think you should buy the car to drive it, and if it goes up in value it’s only a bonus.
 

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Maybe another question: what would cause them to go down? Lotus going out of business and impacting parts availability seems like the worst case, but not all that likely at this point.

Arguably more recession resilient than other sports cars given the low cost to maintain and own. Decent parts availability given Toyota drivetrain and growing lotus brand (even if it isn't growing from this platform anymore). The generation of kids seeing these in 2005-2011ish are getting to a point they can start affording them (will continue to be more true over next 5-10 years).
 

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The generation of kids seeing these in 2005-2011ish are getting to a point they can start affording them (will continue to be more true over next 5-10 years).
With 120 month loans, record low interest rates, and car values that only go up, who can’t afford one? /sarc
 

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Congrats and welcome to the club!
Looks like many are going for over 50k now, so looks like you got a good low miles one for a good price.
The recent bump is probably a combination of many factors, - used car prices going up is a major one, but also the fact that Lotus officially discontinued them when they announced the Emira (and that's the last gas powered car they intend to produce), so these Elise's are indeed very special little cars. And unlike it's competitors, will never become worthless sub 20k cars. (ahem Boxter!) Even salvaged cars seem to be going for a tad more these days.
 
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I had my eyes on a new Elise or Exige for the last year and I kept being too hesitant! Prices have definitely climbed quite a bit! I think all cars have gone up in value to a degree.. I was looking at an 08 Elise SC last year with 15k miles for $42k. Now I can't find any for sale near that price!
 

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I had my eyes on a new Elise or Exige for the last year and I kept being too hesitant! Prices have definitely climbed quite a bit! I think all cars have gone up in value to a degree.. I was looking at an 08 Elise SC last year with 15k miles for $42k. Now I can't find any for sale near that price!
You missed a bargain! In this market he who hesitates has lost. Right now will be the traditional start of the winter "lull" before the spring traditional start of rising prices again. Many have already stored their cars for the winter. There were many Elises bought and sold this year with the increasing demand and it's bound to continue to climb as the cars numbers are lowered thru attrition. I noticed a number of longtime owners selling I guess to cash in while the frenzy was on this summer. GLWS!
 

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Just a few years ago I bought an 05 Elise with 8k miles on it, in mint condition for $34k. I was told back then I over paid for the car, but I did not care. A few thousand dollars more was OK for me to get the car I wanted NOW. I did not want to bargain. Now I feel like I got an incredible deal.
 

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I am a sucker for these threads!

I watch with interest what time does to things and how they age with the populace. I think Eliges are going to be loved and valued going forward for the shear impractical analog bad asses that they are. The only mod I really want other than my fabled Toybox Hethel Rims are to revert my power windows to mechanical... That would be the cherry on top I think.

I don't know what they may or may not fetch in the future, but I know the reaction the car gets at every car meet... That car is famous in my town. I'm just the old dood who drives the CO clowncar.
 

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These cars are so exotic and nothing new will drive like them so with all the crashed and salvage title Elise and Exige models out there, combined with relatively small production run, these cars are sure to go up and stay up. Values are insane right now (look at Porsche 911s) but those prices will eventually go back down. Elise and Exige should stay up since you can’t buy anything like it!
 

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The only mod I really want other than my fabled Toybox Hethel Rims are to revert my power windows to mechanical... That would be the cherry on top I think.
Agreed. I'm considering offering a straight trade to someone sick of their mechanicals --> My Power Windows and switches for their Mechanical. The look and feel of those 'roll downs' takes me back to my youth. Although, I did read somewhere on the forum that the mechanical are slightly heavier - but dont quote me on that.
 

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With regards to my 2011 Elise SC……from my cold dead hands.
 

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The generation of kids seeing these in 2005-2011ish are getting to a point they can start affording them (will continue to be more true over next 5-10 years).
That's my generation :) And let me tell you, I realllllly hope they start leveling out in price. Otherwise my timeframe for finally owning an elise is gonna have to be delayed a few more years... No one wants that
 

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Prices of all Lotus cars have increased along with most 2nd hand cars, but the fact that the production line has ended and there will be no more Elise, Exige & Evora models, mean that values will remain high as demand will exceed supply.
 
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