A&Q about Lotus
Q:
Originally Posted by fishguyAZ
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
That's if he's a serious buyer, and not just a serious lowballer.
Thje problem is that someone puts up a very reasonable price, and in my experience, people use it as a negotiating starting place.
A:
Originally Posted by LW Elise
That's if he's a serious buyer, and not just a serious lowballer.
Thje problem is that someone puts up a very reasonable price, and in my experience, people use it as a negotiating starting place.
I just spent $300K over the past year building an addition onto my house. Just because I don't want to pay $36-39K doesn't make me "not a serious buyer", it just means that I think there is a better deal to be had out there and I'm waiting for it. Like I said, if this guy hadn't wrecked this car yestery, I would be owning one for $32K with touring pack, car cover and only 8100 miles on it. Would of been one of the best prices paid for one. I'm on the lookout for my next great deal. In the meantime, the cash has been transferred from my home equity line to my bank account, waiting.
I'm a serious buyer.
A:
I've also been trying to sell my Elise lately, here and on Cars.com. Loaded 05 LSS, Touring, HT, new brake pads all around, mint condition red on tan. I'm asking $37,000. I don't need to sell so I wouldn't take $33k-$34k. I have a trade in offer of $32k. I have not received a single email, pm or phone call on the car in a month of advertising it.
A:
Originally Posted by fishguyAZ
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
Plus $1000 to ship ... there's one more convenient, 8 miles from my house, that I could probably get cheaper
But I'm looking for something in the $30-$32K range. Thanks though
A:
Originally Posted by 008
I have a trade in offer of $32k.
If the dealers are buying from private individuals for $32K, there's no reason to think that I couldn't do the same. And when the '07's roll-in and the dealers get more '05's & '06's traded-in for Exiges, they will drop their offers even more and suddenly my $32K is looking good to a buyer. Just takes some patience.
A:
Originally Posted by Crow331
If the dealers are buying from private individuals for $32K, there's no reason to think that I couldn't do the same. And when the '07's roll-in and the dealers get more '05's & '06's traded-in for Exiges, they will drop their offers even more and suddenly my $32K is looking good to a buyer. Just takes some patience.
Well at $32k trade in, I save about $2200 in taxes on the new car, so it effectively makes it $34.2k for private party. Not to mention also how much simpler the transactions would be.
A:
Originally Posted by 008
Well at $32k trade in, I save about $2200 in taxes on the new car, so it effectively makes it $34.2k for private party. Not to mention also how much simpler the transactions would be.
True. But I have cash ... doesn't get simpler than cash
A:
Originally Posted by Crow331
Plus $1000 to ship ... there's one more convenient, 8 miles from my house, that I could probably get cheaper
But I'm looking for something in the $30-$32K range. Thanks though
Sorry to go off-course, but what is HRM package? I thought HRM is just a dealer name (Hunting Ridge Motor) in east coast (NJ/NY area)?
Originally Posted by Crow331
True. But I have cash ... doesn't get simpler than cash
Not trying to take sides on either one of you, but if he trades it in to dealer, dealer gives him cash too, what do you think dealer will give him? 32,000 wendys cheese burgers (if you know the commercial)? lol
A:
Originally Posted by gameson
Not trying to take sides on either one of you, but if he trades it in to dealer, dealer gives him cash too, what do you think dealer will give him? 32,000 wendys cheese burgers (if you know the commercial)? lol
LOL .... mmmmmmmmmm cheeseburgers
A:
Sellers that are truly anxious to get out of their cars should consider consigning it to a dealer. A dealer knows how to negotiate the sale without "pride of ownership" getting in the way, and will almost always net enough more on the sale to account for their fees to sell the car. Plus no hassles with lowballers, tirekickers, etc. I drove my car 8 hours to Lotus of Atlanta last November. They sold it for 40,500 in 2 weeks.
This is the same principle as not trying to sell your home without a realtor. One downside is that you do not have access to driving the car while it is being sold.
On the bright side, I feel better about flogging my now heavily depreciated Exige around the track than I did my brand new 'maybe a collector's item' Exige. Maybe these will become track equivalent of the Miata for the next generation, especially if someone can aftermarket an inexpensive clam replacement.
The cost per mile goes way down if you actually drive them instead of leaving them in the garage hoping they won't depreciate.
A:
Originally Posted by Spudboy
This Elise owner has no intention of getting an Exige.
Even for an even trade, I'll keep my Elise.
A:
A couple things for sure.....
No car is "worth" anything it's only gauged by what pleasure you get or what a buyer is willing to pay. You want worth, buy gold.
Trade in value is going down while this thread grows.
Steve
A:
I too tried buying used to avoid the depreciation hit. I found that once I narrowed it down to the color, options, condition I wanted, I could only find 5 cars - all quite a distance away. Factoring in the transportation costs (and risks) I chose to buy a new locally.
My time is simply worth more than my money. No regrets and have been enjoying the car almost every day since!
A:
There's a local dealer in my area trying to sell an Elise w/ touring package, 8k miles for 37,995....They've had it for sale for the last 3 1/2 months...its been on the cover of the local used car magazines, highlighted in the sunday newspaper, etc and they still haven't dropped the price or anything. I am in Crows situation being that I'm 20 years old and in college - but I work a full time job to afford my toys. Theres one for sale now on the forum in NJ for 32.5obo I already checked insurance, and pre-approved for the loan but I really wanted to wait until after winter considering I just bought my TL 3 months ago....I still may buy his though.
edit: Crow's situation meaning his price range, not saying he is young or in college...ha
A:
The value can vary tremendously from dealer to dealer. I have had to evaluate a couple of Exiges and Elises for trade in purposes. Values can run as high as 52k for a loaded low mileage Exige and as low as 34k for a base Elise. We also look at the Service records from Lotus in order to assign values.
A:
One car sitting on a dealer's lot at a given price for 3 months doesn't mean very much. A (reputable) dealer will have more skill at evaluating the market value of a given car. A dealer is more skilled in negotiations. A dealer doesn't have an emotional attachment to the car.
You can't outfox a fox. Best deal for sellers is consignment unless you live in a big city and just happen to get lucky, or don't really care if you sell the car.
Buyers will do better to find a desperate private seller.
I would consider an 8K miles car "high mileage" given there are so many 1500 mile cars available. There should be a substantial price difference.
A:
Originally Posted by MickOpalak
I recently asked LOA what I could get for my '05 with 22K miles and they told me around $38K...
$38k for an 05 with 22k miles?
LOL, you should have tried getting that in writing!
A:
Krypton with black stipes on the for sale board, thinking about selling for 31 - 32K mark............ This one will sell for sure.
Upgrades, HT, Sport....
A:
Originally Posted by Eye Candy
One car sitting on a dealer's lot at a given price for 3 months doesn't mean very much. A (reputable) dealer...
This is a prestigous BMW dealer...You would think they'd have a fairly good idea of the market, since they specialize in higher-end cars.
On the other hand, I work for a Nissan dealership across town, and right now we have a 350Z Convertable that has navigation, chrome wheels, and touring package(basically all options you could possibly get) that is marked way below invoice and we have had it almost a year. As stated before, not just "anyone" will buy these cars, and to add to it, it would mainly be a discretionary purchase(Elise's and Z's) so someone will troll around looking for the best deal because there is always a better one out there.
A:
Originally Posted by BoostedAWD
This is a prestigous BMW dealer...You would think they'd have a fairly good idea of the market, since they specialize in higher-end cars.
On the other hand, I work for a Nissan dealership across town, and right now we have a 350Z Convertable that has navigation, chrome wheels, and touring package(basically all options you could possibly get) that is marked way below invoice and we have had it almost a year. As stated before, not just "anyone" will buy these cars, and to add to it, it would mainly be a discretionary purchase(Elise's and Z's) so someone will troll around looking for the best deal because there is always a better one out there.
And while they troll around, those of us who won't sell to lowballers, will be enjoying driving our Elises, and putting miles on the cars, that someone else who stepped up a few extra thousand dollars could be enjoying. This thread has helped make up my mind. I'm going to give my best deal to the two people who have expressed an interest and didn't try to lowball me, and then if they don't take it, I will either keep it, or trade it in, which is easier than dealing with a lowballer, and will get me just as much money.