Discussion
I love the look of the Lotus Evora and find it astonishing in the fact that its sold so poorly here, im still yet to actually see one on the road. I see the prices hover around the 30k mark for the early launch edition but how far do you think this price might bottom out at over the next few years.
Just something ive been thinking about so would like to hear your opinions if you have any?
Just something ive been thinking about so would like to hear your opinions if you have any?
I bought a 3 year old Elise 111R for £18,600 in 2008. After 20,000 miles and four years I have just sold it for £16,000.
I reckon once the first few years of depreciation is out of the way, it should slow down for the Evora and I think at around £30/£35k they look great value. Of course the Elise was helped by no model that superceded it in recent years - not sure how this will be for the Evora.
I reckon once the first few years of depreciation is out of the way, it should slow down for the Evora and I think at around £30/£35k they look great value. Of course the Elise was helped by no model that superceded it in recent years - not sure how this will be for the Evora.
My guess would be that they will follow the Elise's depreciation curve - collapsing like any other car for the few few years then plateauing. I'd guess they'll start to flatten off in the mid to low 20s; finally settling in the high teens?I've been tracking the advertised prices of them every few months here: http://wiki.seloc.org/a/Evora_Price_Tracking
Need to do another update actually. The median price has been falling for all variants and years between samples, but the lowest advertised prices have stayed fairly consistent.
What something is advertised at isn't necessarily what it sold at however.
Need to do another update actually. The median price has been falling for all variants and years between samples, but the lowest advertised prices have stayed fairly consistent.
What something is advertised at isn't necessarily what it sold at however.
I'm seriously looking at an Evora now just waiting for the right car to come along seems the price for a 09/59 launch car is 28k -31k Launch car's prices over 30k are not selling quickly.
2010 Car's with good miles, colour, spec (31k 33k) are selling like hot cakes so it seems that is the right price for them, car's always find their correct value's in the end I'd say they should sit in low 20's after a few year's bottoming out there
Boggy
contango said:
On the basis that the purchase price, running costs (road tax) and the plentiful competition, so many 911's around....I think the Evora is likely to be hit harder than the Elise. It won't be too long until the early cars are around £20-25k.
if someone is worried about paying for Road tax or running costs should they buy a 911 let alone an Evora, current depreciation is no more than any other car in the same price bracket.contango said:
Exactly.....look how low 911 prices have got to for 996 & 997......The point being there are less buyers willing to stomach the tax and running costs, than there are for an Elise. An Elise will have lower running costs and potentially cost less to purchase, hence why the Evora is likely to depreciate more than an Elise.
The number of 911/Cayman's etc.. can't help but drag down Evora prices, until they eventually become classics, they will mostly be priced off of trade price guides.
I don't really think the uncertainty of Lotus future is likely to help prices to be fair.
Great car though and should surely be driven and enjoyed rather than analysed financially!
Not sure you can generalise against Porsche, it is a lotus! not everyone is a Porsche fan boy and the image that goes with it, the prices of an Evora will go down from new just because its a Car. If you are looking at an Elise it is aimed at a different market maybe more akin to an MX5 but again its a lotusThe number of 911/Cayman's etc.. can't help but drag down Evora prices, until they eventually become classics, they will mostly be priced off of trade price guides.
I don't really think the uncertainty of Lotus future is likely to help prices to be fair.
Great car though and should surely be driven and enjoyed rather than analysed financially!
People buy a Lotus because its not a Ferrari.....Maserati.....Lamborghini......Porsche etc, it is what it says on the tin its a Lotus. If you look at the 50-60K Esprit's they are still not exactly cheap £27K for a 2002 model and again not as cheap/reliable as either a Evora or Elise in fact for the lower end Evora's they are incredible value for money.
Also consider the much maligned Europa S these are now being advertised for £20K back in 2007 you could buy these for £22K so the price has hardened and actually risen
So what we have on one hand is what could be considered in the car trade as average depreciation but it could be the prices harden around the £28-32K mark particularly for well maintained low milage models for what is actually a very good reliable everyday performance car.
I suspect Lotus will survive in what form is still of debate but unlikely to totally disappear.
contango said:
I think you are missing the point specifically with the Porsche....I agree not everyone wants a Porsche, but the point is there are so many cars in this sector for sale on the secondhand market.....I agree an Evora is a Lotus, but is it really so much better than other cars in the sector that it should trade at such a premium?
I agree the low numbers may help resale, but there is a point behind that....not many people appear to want them!
I do like the Evora, by the way!
You may be right there, there is a glut of Porsche for sale 2,890 of the beasties compared to 418 LotusI agree the low numbers may help resale, but there is a point behind that....not many people appear to want them!
I do like the Evora, by the way!
You could buy a new Toyota gt86 for 28k. When Evoras reach 28k - say next spring then i reckon you have the nearest thing to a no brainer i have ever seen. In 2013 a 4 year old Evora for 28k will still be worth 20k by 2020. One to keep. And the depreciation headline wont be undermined by stratospheric ferrari or porsche running costs. I mean, how may Porsches have you seen advertised with new engines? Both 996 and 997.
I've been keeping my eye on Evoras for a while now, I suspect it'll be the upgrade for me from the Elise as it offers a little more practicality, I also love the styling (at least from most angles!).
What's the opinion on the spec of the car, what's 'essential' on these? There cheapest on the market right now lacks all the additional packs and is fairly low spec but does this really matter? I think the only thing that would possibly be essential for me would be the Sport pack and I'd consider the Premium pack a bonus extra. Even as a techie, the Tech pack doesn't really interest me too much.
Also, when did the interior improvements start to appear? Is there any difference between a Launch spec car and a 2010 car?
Any thoughts chaps?
What's the opinion on the spec of the car, what's 'essential' on these? There cheapest on the market right now lacks all the additional packs and is fairly low spec but does this really matter? I think the only thing that would possibly be essential for me would be the Sport pack and I'd consider the Premium pack a bonus extra. Even as a techie, the Tech pack doesn't really interest me too much.
Also, when did the interior improvements start to appear? Is there any difference between a Launch spec car and a 2010 car?
Any thoughts chaps?
Noted that one last time I did a roundup. The lack of Sport Pack is very odd and would be a complete no-go for me. Personally I'd want one with Tech Pack as well as rear visibility is poor.
Of the other options the only one I'd like to see fitted is the Xenons. Power-fold mirrors can be added quite simply in to any car by changing the switch: http://wiki.seloc.org/a/Power-fold_Mirrors
Of the other options the only one I'd like to see fitted is the Xenons. Power-fold mirrors can be added quite simply in to any car by changing the switch: http://wiki.seloc.org/a/Power-fold_Mirrors
I wondered how much of the useful 'missing stuff' could be retrofitted cheaply. Powerfold mirrors is a cracker when it simply involves changing the switch!
Sport Pack - Exhaust is a candidate for something different anyway? Cross drilled brakes could be retrofitted when the existing disks need replacing. Other than that, you're missing out on the switchable sports mode, DPM and increased RPM (remap?)
Tech Pack - The older head unit isn't meant to be all that great and the other stuff is, coming from an Elise, a luxury anyway. I know what you mean about parking sensors though, that's the only thing in there that I'd be keen to have.
So the 2009 launch spec car is looking better all the time... not that I can afford/justify it right now!
Sport Pack - Exhaust is a candidate for something different anyway? Cross drilled brakes could be retrofitted when the existing disks need replacing. Other than that, you're missing out on the switchable sports mode, DPM and increased RPM (remap?)
Tech Pack - The older head unit isn't meant to be all that great and the other stuff is, coming from an Elise, a luxury anyway. I know what you mean about parking sensors though, that's the only thing in there that I'd be keen to have.
So the 2009 launch spec car is looking better all the time... not that I can afford/justify it right now!
Own a 60 plate bright yellow Evora 2+2 with tech pack and sport pack. Tech pack adds DVD flip screen sat nav, which despite reports is easy to use and not bad quality at all...easily the best ICE of any car I've owned. In built subwoofer also gets around Lotus tinniness that I had in the Elise...watching a DVD is like being at the cinema sound wise. Reverse cam and beepers are essential and are really, really good with great wide angle visibility. Power fold mirrors I could live without, only use them to show off after parking in front of an audience really.
Sport mode I could not live without...I drive with it on all of the time..it really sharpens throttle response and seems to make it sound much more throaty too. It feels like a different car with it on and still returns 31 mpg.
Can't really see what premium pack adds, other than leather rear seat and a bit of footwell lighting.
Sport mode I could not live without...I drive with it on all of the time..it really sharpens throttle response and seems to make it sound much more throaty too. It feels like a different car with it on and still returns 31 mpg.
Can't really see what premium pack adds, other than leather rear seat and a bit of footwell lighting.
CountZero23 said:
Bump! So prices haven't budged in 8 months - what gives?
It maybe that Plateau, they are cracking cars I suspect a couple of things1) the market is realising the cars are good
2) My understanding is that Lotus management no longer have these cars as a standard offering therefore less 2nd hand are comming on to the market
3) Most Cars loose a certain amount of capital in the first year then slow down on depreciation and a car such as a Lotus historically has a lower depreciation if its looked after these things are desirable
also I see that JCT600 have a 2007 Europa S for sale @ £19,500 in 2008 they would have sold you one for £22k
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