Discussion
Interesting to see what people think. Its very much about predictions. Here are my thoughts.
The low sales volumes and subsequent shortage of cars has been a benefit to residual values. This must change. A rise in sales through 2014 will inevitably lead to a rise in late second hand cars spring 2015. The two year price deal may delay their arrival but sooner or later the supply will rise. This will lead to Series 3 Exiges around the £42.5K with under 10K miles. Already seeing Series 3 Elises (220bhp)at around the £32k so perhaps £29 come springtime.
For the time being the series 2 Exige will probably remain stable at around the £30K for 2010 cars. The question needs to be asked, will people ultimately prefer a later model Exige once the prices dip or will a series 2 hold up. At the moment at least the price difference in my eyes is to great to contemplate and so I dismiss it instantly. I can't help thinking nevertheless that not far down the line depreciation will rise.
Having seen a 2014 roadster at £50K, thereby already showing a 10% plus fall (still reasonable) should one assume that the coupe will drop more quickly. Will demand for the roadster be greater or less than that of its coupe derivative
Perhaps the bigger impact will be on Series 2 Elises, notably 190 R and 220 SC cars. I already think a late series 2 SC will now be more difficult to sell at £21.5K-£23K. So a late R falls back under the £20K mark, perhaps not quite now, but after the summer.
As for the lesser powered models, I think they will suffer far more. Seeing the latest offer of series 3, brand new at £30K just leads me to think we'll be seeing these cars at under £20K very shortly.
The question also needs to be asked that if a Lotus loses its label as a brand that holds its value relatively well, will that ultimately deter buyers.
Only time will tell. Who knows, rising demand for the new cars may ultimately raise demand for second hand cars, thus maintaining the status quo.
My final thought for the day. I've just seen a series 3 in Type 23 colour scheme. Strangely enough I found it less stunning than the original series 2 cars circa 2003. Either poor photos or perhaps it just doesn't work so well on the later cars. Probably means that we'll also be seeing Jim Clark series 3 cars in the not too distant future!
Anyway, the debate is launched
The low sales volumes and subsequent shortage of cars has been a benefit to residual values. This must change. A rise in sales through 2014 will inevitably lead to a rise in late second hand cars spring 2015. The two year price deal may delay their arrival but sooner or later the supply will rise. This will lead to Series 3 Exiges around the £42.5K with under 10K miles. Already seeing Series 3 Elises (220bhp)at around the £32k so perhaps £29 come springtime.
For the time being the series 2 Exige will probably remain stable at around the £30K for 2010 cars. The question needs to be asked, will people ultimately prefer a later model Exige once the prices dip or will a series 2 hold up. At the moment at least the price difference in my eyes is to great to contemplate and so I dismiss it instantly. I can't help thinking nevertheless that not far down the line depreciation will rise.
Having seen a 2014 roadster at £50K, thereby already showing a 10% plus fall (still reasonable) should one assume that the coupe will drop more quickly. Will demand for the roadster be greater or less than that of its coupe derivative
Perhaps the bigger impact will be on Series 2 Elises, notably 190 R and 220 SC cars. I already think a late series 2 SC will now be more difficult to sell at £21.5K-£23K. So a late R falls back under the £20K mark, perhaps not quite now, but after the summer.
As for the lesser powered models, I think they will suffer far more. Seeing the latest offer of series 3, brand new at £30K just leads me to think we'll be seeing these cars at under £20K very shortly.
The question also needs to be asked that if a Lotus loses its label as a brand that holds its value relatively well, will that ultimately deter buyers.
Only time will tell. Who knows, rising demand for the new cars may ultimately raise demand for second hand cars, thus maintaining the status quo.
My final thought for the day. I've just seen a series 3 in Type 23 colour scheme. Strangely enough I found it less stunning than the original series 2 cars circa 2003. Either poor photos or perhaps it just doesn't work so well on the later cars. Probably means that we'll also be seeing Jim Clark series 3 cars in the not too distant future!
Anyway, the debate is launched
This car illustrates to me where I think things are moving on series 3 cars
http://www.autotrader.co.uk/classified/advert/2014...
At £30K for a 2012 car it makes more sense to me than a 2009 SC series 2 for example at around the £23K mark, so prices moving downwards.
This car however defies all logic. Fabulous looking car but the price is the wrong side of what I would consider to be attainable, by a long way.
http://www.pistonheads.com/classifieds/used-cars/l...
The RGB that featured in the classifieds last week was far far better.
And the following two cars show that Exige series 3 cars are creeping downwards. I'd take either, but haven't got the necessary dosh. If these are customers cars, they've sold for less
http://www.pistonheads.com/classifieds/used-cars/l...
http://www.pistonheads.com/classifieds/used-cars/l...
http://www.autotrader.co.uk/classified/advert/2014...
At £30K for a 2012 car it makes more sense to me than a 2009 SC series 2 for example at around the £23K mark, so prices moving downwards.
This car however defies all logic. Fabulous looking car but the price is the wrong side of what I would consider to be attainable, by a long way.
http://www.pistonheads.com/classifieds/used-cars/l...
The RGB that featured in the classifieds last week was far far better.
And the following two cars show that Exige series 3 cars are creeping downwards. I'd take either, but haven't got the necessary dosh. If these are customers cars, they've sold for less
http://www.pistonheads.com/classifieds/used-cars/l...
http://www.pistonheads.com/classifieds/used-cars/l...
trunnie said:
Interesting, to the extent that the market in Europe has taken advantage of the EUR:GBP exchange rate then what happens if sterling strengthens further. The rate got down to EUR1.06 to GBP1, but is now heading to 1.27. Will the continental buyers dissappear as UK cars are now 25% more expensive for them, hence lowering the market price as there are fewer buyers?
It appears that a RHD car sold here in France is always worth less than a LHD, so will these RHD cars start flowing back to the UK if sterling strengthens putting more pressure on the price?
On the other hand if sterling starts dropping again (Scottish independence anyone) then more European buyers might be tempted to acquire a RHD Lotus from the UK.
As a Brit in France its interesting to follow prices here and in the UK. As stated, the GBP is now too strong and so UK sourced cars are far less attractive. Current rates could well see a reverse, with RHD cars returning to the UK. I might even consider marketing mine as it would perhaps enable me to get a LHD example (The only reason I would want to change as I absolutely adore my current car) LHD cars are around £6/7 K more expensive even now, but I'd probably get at least half of that back by selling now which makes it an option to consider. This having been said, its the devil I know so perhaps wiser to keep it. It appears that a RHD car sold here in France is always worth less than a LHD, so will these RHD cars start flowing back to the UK if sterling strengthens putting more pressure on the price?
On the other hand if sterling starts dropping again (Scottish independence anyone) then more European buyers might be tempted to acquire a RHD Lotus from the UK.
All the same UK buyers should perhaps consider looking abroad to repatriate cars. Perhaps just the hassle of paperwork but that works both ways. My Elise when I imported it to France was straightforward with the COC. No added costs. Don't know how it would work in the opposite direction.
With France still suffering from the crisis, with no visible signs of a recovery, It is more than likely that French prices will fall.
Strangely enough Lotus say sales in Europe, notably France are increasing. Don't know where they are. I go for months without seeing another Lotus.
Shnozz said:
It is, but I am not sure I could drive around in a fake Cup, no matter how gorgeous it looks.
Talking of yellow ones, there's a 2005 yellow S2 Exige that's popped up in the classifieds at £26.5k which seems a tad high.
Agree its OTT on the price and find the description ambiguos. Doesn't detail the model. Theres no photo of the engine. Talks about a power upgrade but doesn't say how much. Love the colour but the private seller offering his 2008 220 at £21500, seems far far far better value-its just black. Talking of yellow ones, there's a 2005 yellow S2 Exige that's popped up in the classifieds at £26.5k which seems a tad high.
gashead1105 said:
That's a CAT D...
Agreed. Wouldn't discount it though. Sometimes to much attention paid to this sort of thing. I visited a dealer recently. Several cars in various states of repair after accidents. I think a lot more cars than revealed have been repaired. Obviously diffent levels. I find that almost normal. Asides from road accidents the number of track accidents seem quite high. At the time I thought, wouldn't buy that but then when you see the parts replaced and the end result its perhaps not so bad. Properly repaired by specialists and not cowboys then why not.
At the end of the day its always down to condition, history and price. Starting price £21.5 for a 2008 low mileage, 218Bhp car doesnt seem unreasonable even for Cat D. Interesting to see what people think its worth.
Seems to me that the summer market is over. Prices moving downwards on all fronts. I still think we'll see series 3 Exiges at around the £42.5 (private sale) in the not too distant future. B+C have £48K 2012 Exige and they tend to be at the top end. Series 3 Elises (S) are cropping up far more often at around the £31/32 mark with H-tops inc in the price. Series 2 Exiges that were flying out the doors in spring at premium prices are hanging around a lot longer. There are series 3 Elises (134) at £20K now which has a knock on effect. I think low mileage 111R's that were hitting the £20k mark not long ago will drop to around the £17.5K level which will see the return of the higher mileage 111R (50/60k miles) in the £13/14K price band.
Remains nothing but predictions. The only certainty is that prices are moving downwards and that perhaps the downward spiral is stronger than we have seen in the last couple of years. Time will tell.
Remains nothing but predictions. The only certainty is that prices are moving downwards and that perhaps the downward spiral is stronger than we have seen in the last couple of years. Time will tell.
400SE Dave said:
What is the point of this thread?? Talking down prices?? Why??
I bought my Exige as a great drivers car and not an investment. At the end of the day most cars lose money, this is not a surprise to anyone, but for sure a Lotus loses less than most.
If you are worried about the value of yours sell it.
I follow prices out of interest. I change my car every 18 months. I like to have an idea of how much it will be worth aswell as what I could consider buying. For the time being I 'm more than happy with my Exige. My next car may well be an Elise (220s) I don't see it as an investment. My current car is the sixth Lotus I've owned, the latest model I could afford and probably the most impressive car I have ever owned. I'd like to consider a series 3 Exige but it remains out of my budget. In addition I still prefer the looks and lower running costs of my current car. Talking about the prices doesn't make them go down. It perhaps helps potential buyers or even sellers to have a realistic idea of the market but nothing else. I'm no specialist, just curious.I bought my Exige as a great drivers car and not an investment. At the end of the day most cars lose money, this is not a surprise to anyone, but for sure a Lotus loses less than most.
If you are worried about the value of yours sell it.
Obviously, if you don't see the point, don't read the thread. There are threads I simply ignore for the same reasons.
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