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Since 'discussion' isn't allowed in the For Sale forum, why are prices falling so fast for Lotus used cars, especially the Exige. $44,500 for a used S in great shape - no takers. How can someone sell an N/A now for over $40k?

Once someone posts a car for sale there is banter then dead air, followed by the constant price reductions (if not, thread dies).

Look at Ebay. Do a search for Exiges. Any 'normal' price - no bids.

I guess it is a good thing for me since I will buy one in the next six months, but it is like buying a falling stock.

Buy a NEW Exige for $67k and expect it to be worth $47k in a year (my opinion only, from what I have seen).
 

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In my opinion, the Elise/Exige are a luxury commodity for most(Not a daily driver) and the economy slow down are making people sell their toys, or think twice before getting one. This would also explain the large volume or used Lotus on the market(also lowers prices)
 

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cars are poor investments.
 

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Buy used.
Or, if you buy new, total it instead of selling it.
Ask me how I know.
 

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Since I'm driving mine into the dirt, I don't care.
+1

Our '72 Elan is still in the garage (not a daily driver).
Our '93 Accord is a daily driver with over 220,000 miles.
Our '94 Miata is a daily driver (my wife won't give it back).
Our '96 Ranger has about 120,000 miles on it - my daughter has it at school in Texas.
Our '05 Elise is the new car (and was my daily driver when winter is gone).

Trade-in value? When I'm done with a car, all it has is scrap value. ;)
 

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The economy. And Lotus has a knack for introducing cars when the US economy is in the toilet.

Other than that....these cars always take a big hit in the first two years...then they settle down. It is a toy.
 

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Prices always fall for a few years - every car except SOME ultra high end ($200k +) cars do this.

The reason the Exige S values are falling is that to a lot of people, the Exige S adds little over the Elise, in fact with some, it is less desireable. How can that be? Well for one, if you want a convertible (technically targa, but...) and the Exige isnt' converted, it will cost you $2k-$4k to do it.

The Elise is more car than 99% of our country can handle, so most folks who deal in reality don't see the value in the supercharger or (what I consider) the marginally better body styling.

Elise values have settled. We bought ours for ~30k, about 2 years ago. I'm pretty sure I could get $30k or close to it today.

Anytime you drive a car off the lot and expect it to lose less than 20% of its value, simply for that act, then you're kidding yourself.

Bottom line: compared to 99% of other cars, the Elise/Exige have GREAT resale values.

(side note: Just saw an 06 Es-co-lade with 13k on the clock go for $14900 at auction. Probably cost $65 new)
 

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I plan on being buried in mine.
My wife figured I'd want that, but absolutely not. The car is a Lotus - it deserves to be passed on to someone that will appreciate it and drive it. Both of my kids are arguing over who gets which Lotus when I die... :shrug:
 

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On average a new vehicle depreciates 20% of the MSRP when you drive off the lot and the more expensive the car, the bigger the margin. Also, the economy, introduction of newer cars, and market has so much to do with it that it averages out to normal depreciation when you really think about it. I had a 2005 Infiniti G35 coupe that had an MSRP of about $37,710 and when I traded it in 2006 I got $26,000 for it.. meaning it dropped 31% in one year.

Cars are not an appreciating asset. Let's not forget that. The way I look at it, life is short and we pay for things that make us happy. Was driving your car with that grin on your face worth the money???? In my case, ABSOLUTELY! :shift:
 

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...I guess it is a good thing for me since I will buy one in the next six months, but it is like buying a falling stock.
Car resale values are exactly like falling stocks - would you ever expect otherwise? The only thing you know for sure when you buy a newer car is that it's going to depreciate, and in some cases depreciate A LOT. Though you can't drive your stocks around or do anything very fun with them like you can with a car.

I've noticed used car prices for some makes and models seem to bottom out at some point. I've noticed many older good condition 911's seem to still price out at $20k (sure there are some for lots less and more too). For Boxsters, I think the bottom out price is $10k for an older one in good working condition.

On the other hand some cars keep depreciating and basically become worthless over time, mostly american cars.

I wonder if there will and what the "bottom out" price for a Lotus Elise will be. That is, what price will one fetch as long at it's in good running condition regardless of age.
 

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I think the 05' Elise's are leveling off now right around $30k. Look at the Viper's, Evo's, even M3's. They all level off at some point and I think now the 05's Elise's are at $30k the rest will stack up behind it. Obviously they will still slowly drop but the worst is over for the 05's, I hope. My dad has an early 1990 ZR1 that once almost hit $100k new and now is at $20k with high miles and slowly on the rise after 18 years. Those last gen. of Supra's and NSX's are ridiculous. I had a buddy pay 26k for a '97k TT 6spd Supra with 165k miles just last year. A low mileage TT 6spd Supra will go for more than it did new. Don't get me wrong new cars always drop.

I think if you guys are in for the long haul you will be alright. my $0.02
 

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...when i applied for my loan, the bank told me (using whatever divining they have at their disposal) that by the time i pay it off, i can expect my elise to appreciate from the $26.5k i paid for it...
 

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I concur... the way the Euro is going, new ones will be more expensive and the used ones will be more in demand. Recently paid 35k for my 06 with 2,048 miles on it. The salesguy told me they had trouble pricing it as they couldn't find it's value on KBB/NADA. The bank told me same as above, in fact they said I paid way under market value for it(they did find the price it's listed as an exotic). It's the first car I've owned that I could sell for more then I paid for it. But I wouldn't be able to part with her. She becons me... I hear her calling me... from the garage... "Drive me..... Drive me.... You know you want to..." It's MADDENING!!! I MUST GO FOR ANOTHER SPIN!!!
 
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