A&Q about Lotus
Q:
to confirm that statement
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The underlying meaining of this thread is....... $35K is really the going rate.....for the last couple of months.
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Originally Posted by ExPorscheDude
$35K is really the going rate
For what options? I'd say that $35k would be a reasonable price for the average Elise + TP + HT. A base elise could go for less, and a loaded elise could go for more.
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I've always sold for the listing price. In other words, take it or leave it. I don't negotiate if I know its a good deal. I own a late model 05 that I would sell today for $41,500. My car only has 3,000 miles and has never had one problem. If it doesn't sell, no problem (It's not a daily driver and I'm not hurting for money). I would like to say one thing, there is always one person. No matter what the price......there is always one........So a word to the wise out there. Stand firm on your price if you believe in your product! The one buyer always shows up.
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Originally Posted by ExPorscheDude
Hey you guys,
I've been noticing that there is definately a disconnect between buyers and sellers of Elises out there, talking specifically about "Private Party" sales.
It seems to me that a majority of the people out there selling thier 05's are asking around 39K and the buyers only really want to pay 32K.
I would be interested in knowing what people are really paying for these cars used with average miles (~8K).
I think we all know that sellers are sitting on these for a while, maybe some sellers get lucky and someone buys thier '05 Elise for the $39K mark but I think most are selling for somewhere in the middle. Meaning around $35.5K
We all know that once you own the car you think it is worth more and when you don't own it you think they are all worth less.
When the seller gets desperate you can obviously get a good deal. My friend who is a Forum Member, got a steal on an '05 back last winter from a guy in Michegan for $32K (Base Model). So, people can get desperate.
On the other hand, there are so many sellers out there, initially putting thier cars up for sale even at the 41K mark, of course we all see them slowly lower their price. The dealers selling these cars used are way over priced too, but I'm sure they are selling some high.
Personally, I will most likely be in the market very soon, I don't want to screw anyone and I don't want to be screwed. So, I consider myself kind of nuetral, consider me Sweedish
Anyways, I thought I would just start a discussion on this topic. What do you guys think?
Can't speak to '05 but trade in value for '06 is about 36.5 K. I'm one of the private sellers trying for $39.5K on a private sale here, and have some interest but not a buyer yet. And that's with 1450 miles, and the 1000 mile already done on a basically spotless car. It doesn't feel like a strong market from a Seller's perspective. However, since most of these cars are discretionary, I doubt many Seller's will be "desperate". Maybe one or two here or there, but that's not the majority. If we can't get a price we think is fair, speaking for myself anyway, I just don't sell. A lot of us are selling just to move up in the horsepower wars (Exige S or Vette/Viper stuff) so I think money would be an issue. Plus, from a Buyer's perspective, if you can get a very slightly used vehicle for 10K below a new car, why wouldn't you step up to that? Maybe because the purchase is also discretionary.... and the buyer's are bargain hunting? Either way, makes for a stagnant market.
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Lotus is a specialty niche. It took me almost a year to sell my Esprit for a reasonable amount of money...$4K loss in two years, though, isn't that bad. Looks like with production on the decline, values will eventually stabilize. Also, Lotus has to get through the branding of "it's a lotus..oh." IE, Crap, that thing will chew my leg off on up keep. Once the Toyota power/gear box proves it is bullet proof (relatively) then I think that image will fade. It is an every day exotic and there aren't many marques that can claim the same fame, especially for the money. As a former Boxster owner, for the money, I think, "what the heck did I spend on the Boxster?" But don't feel bad. Porsche flooded the market with Boxsters and I took a bath on the sale, and that took 6 months b/f I found a buyer who appreciated the mods I did on the same.
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Originally Posted by transio
My 2 cents.
When I bought my Elise from ET, I never posted in the seller's thread except to tell him that I sent him a private communication, and when I sold it, the buyer never posted in my for-sale thread. He PMed me and called me the day I listed it, though. My point? Real buyers communicate in private. The people posting "your car is worth $x" or "I'll give you $y" in the thread aren't real buyers... they're trolling.
absoulutely true steve.
the guy who bought mine just called me, the ones who post lowballs, are the flakes, and i just dont respond to them.
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Originally Posted by ExPorscheDude
Hey you guys,
I've been noticing that there is definately a disconnect between buyers and sellers of Elises out there, talking specifically about "Private Party" sales.
It seems to me that a majority of the people out there selling thier 05's are asking around 39K and the buyers only really want to pay 32K.
I would be interested in knowing what people are really paying for these cars used with average miles (~8K).
I think we all know that sellers are sitting on these for a while, maybe some sellers get lucky and someone buys thier '05 Elise for the $39K mark but I think most are selling for somewhere in the middle. Meaning around $35.5K
We all know that once you own the car you think it is worth more and when you don't own it you think they are all worth less.
When the seller gets desperate you can obviously get a good deal. My friend who is a Forum Member, got a steal on an '05 back last winter from a guy in Michegan for $32K (Base Model). So, people can get desperate.
On the other hand, there are so many sellers out there, initially putting thier cars up for sale even at the 41K mark, of course we all see them slowly lower their price. The dealers selling these cars used are way over priced too, but I'm sure they are selling some high.
Personally, I will most likely be in the market very soon, I don't want to screw anyone and I don't want to be screwed. So, I consider myself kind of nuetral, consider me Sweedish
Anyways, I thought I would just start a discussion on this topic. What do you guys think?
I think you mean "swiss" - neutral, not swedish... kind of like the difference between 'austrian' and 'australian'.... sounds similar... drink different beer.
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To the post about Exige values....
S1 Exige values are as high as S2 Exige values in the UK - or pretty close.
The S1 cars will hold their values, IMHO, much better than the S2 cars.
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Not all low-ballers are flakes. Not all serious buyers only send private messages. I'm a serious buyer, I just like to know that I'm getting a really good deal when I buy big ticket items. I talked a guy who had his listed with 8100 miles for $37,900 on Craigslist down to $35K to which he said he would go no lower. Then when I said I would pay cash it went to $34500. He has the touring package, hard top, soft top etc but no starshield. When I said I wanted the starshield and it would cost me $1000 to put it on he said he would knock it down to $33500 to cover a new starshield. I told him I would get back to him because there was a red one in SF for $33500 that I was trying to talk down to $32K ... he emailed me back 2 days later and said he would take $32K and I had the cash ready until he cracked the front end this morning. His only reason for selling? He wanted another car and in his words he. "wanted the cash immediately and didn't want to wait for someone to get a loan or end up getting denied a loan", he wanted to get the cash immediately. That's also the reason a lot of people sell to dealers. They don't want to wait, they just want the immediate cash, even though they could sell privately and make more money on it. Convenience is everything.
When someone said "wait out your price, there is always 1 that will show up and you will get your price eventually", that goes the other way too ... there's always 1 guy who really needs to sell it and can't wait for his price to show up so he takes a lower offer. I'll wait it out too.
I think the prices will go even lower as the '07's roll out and as people with Elises want to get the Exige instead.
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Originally Posted by r1s4ever
Trade in is probably around $31,000 now. I know for a fact that in late April, early May trade in was $32,500. That's what the dealer paid for the used one that I bought. I know because that's what I paid for my 05 SY Elise with 3,500 miles on it.
I recently asked LOA what I could get for my '05 with 22K miles and they told me around $38K...
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Originally Posted by MickOpalak
I recently asked LOA what I could get for my '05 with 22K miles and they told me $38K...
And you didn't take them up on it?
Come on, Mick, $18k more and you'll be driving an Exige S!!!
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Originally Posted by Crow331
I think the prices will go even lower as the '07's roll out and as people with Elises want to get the Exige instead.
This Elise owner has no intention of getting an Exige.
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Originally Posted by Andrikos
And you didn't take them up on it?
Come on, Mick, $18k more and you'll be driving an Exige S!!!
I still have to convince the wife...
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Originally Posted by Spudboy
This Elise owner has no intention of getting an Exige.
+1
Two different cars really. The Elise is a British ragtop sportscar. It happens to be pretty darn fast too, but mostly it's a fun to drive sportscar to this guy.
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Just paid $37k for a 2005 with touring and 6k miles. I have been looking for a year on ebay. the price hasnt really dropped since last november. With the exception of an orange car in Detroit that sold for less than $35k, buyers are willing to spend $35-$36k. Sellers are wanting considerably more (like $40k). Almost 100% of the auctions end without the reserver being met.
I personally think that a bunch of people bought their car through the initial lottery system hoping to make money on them. That would explain why there were so many Elises changing hands initially. That would also explain why the sellers werent excepting that the cars were depreciating like a normal car.
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2005 saffron yellow
touring, hardtop,starshield.
2000 miles.
Perfect.
Buying exige s
$36,000
in ohio
dan w
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Originally Posted by ITA66
With the exception of an orange car in Detroit that sold for less than $35k,
Heh heh, that one is mine!
Believe me, she'll never see a 3rd owner, never, ever!
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Originally Posted by ITA66
I personally think that a bunch of people bought their car through the initial lottery system hoping to make money on them. That would explain why there were so many Elises changing hands initially. That would also explain why the sellers werent excepting that the cars were depreciating like a normal car.
I also think that a lot of early buyers wanted to be the first on the block with one of these beauties and then realized that it was too much (or too little) car for them or that it was too hardcore. Many of them simply dropped their pants to get out of them. I have met a number of people who just didn't care what loss they took - they obviously have more money than me. But, they bought what they wanted at the time and can say they have had an Elise and now they have X. I think these factors played into the fire-sale, 'the-sky-is-falling' prices that we saw initially.
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Originally Posted by danwasdahl
2005 saffron yellow
touring, hardtop,starshield.
2000 miles.
Perfect.
Buying exige s
$36,000
in ohio
dan w
crow, if you are a serious buyer, heres your car...............
less mileage on the car + less maintenance for you, price out a set of tires, brake pads etc. you will see low mileage cars are worth a paying a bit extra for