Mileage obsession
Discussion
Why do people go overboard about mileage. It remains a selection criteria and will ultimately have a downward impact on the price as the mileage rises. However, people that dismiss a car simply because it has more than 50K on the clock seems ludicrous to me. A 2006 being eight years old, with average mileage will have 64000 miles (8x8k) I'd hardly consider that unreasonable. I would have thought that servicing and condition would predominate. Like with any car the value will diminish, the higher the mileage. There are cars out there with 70-80K for sale and somewhat surprisingly the sticker prices are relatively high. They still get sold.
Everybody, myself included, remain vigilant concerning depreciation. However, seeing some peoples reaction to cars with upwards of 70K on the clock, one would imagine the it to be a catastrophic purchase. Get the impression that some think that buying a car at say £20K with 70-80K miles which will be worthless a year or so later . That level of depreciation just doesn't happen on any car that age. Theres no denying it will depress the price. If I get my crystal ball out, I would imagine a £20K car with 70K Miles, purchased now, after two years average motoring (2X8K) will still sell for around the £15/16K mark. This makes for £2K/£2.5K per year. That in my eyes remains 'reasonable'.
Afterwards, there are obviously factors that will influence the decision to buy. However, is a car with 80K miles, no track use, properly serviced and maintained, any more of a liability than a 20K miles car, that has done ten or more track days.
Mileage remains a selection criteria. It is just completely unreasonable to imagine that there will be an unending supply of cars 6-10 year old cars with under 25K miles on the clock.
I also ask myself why do people buy a car and then drive it less than 1000 miles per year. I adore my car and love driving it. Whats the point otherwise in buying it. It goes witout saying that if I dont put any miles on it it will depreciate less but then whats the point. Its a car. If you don't want to lose money, keep it in the bank.
Either way, even high mileage Lotus cars depreciate less than many other cars and the pleasure of owning one is surely about driving it and not simply looking at it standing still in the garage every day.
Everybody, myself included, remain vigilant concerning depreciation. However, seeing some peoples reaction to cars with upwards of 70K on the clock, one would imagine the it to be a catastrophic purchase. Get the impression that some think that buying a car at say £20K with 70-80K miles which will be worthless a year or so later . That level of depreciation just doesn't happen on any car that age. Theres no denying it will depress the price. If I get my crystal ball out, I would imagine a £20K car with 70K Miles, purchased now, after two years average motoring (2X8K) will still sell for around the £15/16K mark. This makes for £2K/£2.5K per year. That in my eyes remains 'reasonable'.
Afterwards, there are obviously factors that will influence the decision to buy. However, is a car with 80K miles, no track use, properly serviced and maintained, any more of a liability than a 20K miles car, that has done ten or more track days.
Mileage remains a selection criteria. It is just completely unreasonable to imagine that there will be an unending supply of cars 6-10 year old cars with under 25K miles on the clock.
I also ask myself why do people buy a car and then drive it less than 1000 miles per year. I adore my car and love driving it. Whats the point otherwise in buying it. It goes witout saying that if I dont put any miles on it it will depreciate less but then whats the point. Its a car. If you don't want to lose money, keep it in the bank.
Either way, even high mileage Lotus cars depreciate less than many other cars and the pleasure of owning one is surely about driving it and not simply looking at it standing still in the garage every day.
Edited by simpo555 on Sunday 13th July 18:10
I am waiting for my current car to sell to get back into Lotus ownership, this time to buy an S1. I have been looking at the classifieds on NORLOG, SELOC and PH for a while and the whole mileage thing does not bother me, on an Elise anyway.
I see them as a triggers broom car. I will not be put off by an example that has done 100k+ but had a the usual suspects addressed; suspension refresh , head gasket, steering rack and toe links etc. This will be IMHO a better buy than a car with 40k that has just had it's regular yearly service then tucked away and driven every now and again.
I will be buying on condition, maintenance and preventative maintenance. Low mileage is a nice to have but not a big factor for me.
Edited: for speeeling!
I see them as a triggers broom car. I will not be put off by an example that has done 100k+ but had a the usual suspects addressed; suspension refresh , head gasket, steering rack and toe links etc. This will be IMHO a better buy than a car with 40k that has just had it's regular yearly service then tucked away and driven every now and again.
I will be buying on condition, maintenance and preventative maintenance. Low mileage is a nice to have but not a big factor for me.
Edited: for speeeling!
Edited by Tickle on Sunday 13th July 19:55
I've had a couple of conversations recently on this very subject. I think generally low mileage is always desirable with sports cars but the uber obsession within the Lotus market I think is a hangover from the K series days when everything exploded at 50k.
Theres a lot of talk about cars being too low mileage etc but in my experience they do give less issues than an equivalent high miler. You probably arent going to be replacing balljoints and head gaskets on a 25000 mile Elise and you probably are on a 72000 mile one. Its just a fact of life.
The super low mileage ones you see with 2k on the clock at 12 years old may be pushing it a little. They may require some time based maintenance on seals/hoses etc but when done the end result will always be a more desirable car.
People generally are OK with higher mileage when they have owned a Lotus before and are a bit more familiar with them. New people coming into the marque will have heads full of stories of toe link and head gaskets exploding and want to mitigate the apparent risk by buying cars with lower mileage.
Jon (lotushardtops.com)
Theres a lot of talk about cars being too low mileage etc but in my experience they do give less issues than an equivalent high miler. You probably arent going to be replacing balljoints and head gaskets on a 25000 mile Elise and you probably are on a 72000 mile one. Its just a fact of life.
The super low mileage ones you see with 2k on the clock at 12 years old may be pushing it a little. They may require some time based maintenance on seals/hoses etc but when done the end result will always be a more desirable car.
People generally are OK with higher mileage when they have owned a Lotus before and are a bit more familiar with them. New people coming into the marque will have heads full of stories of toe link and head gaskets exploding and want to mitigate the apparent risk by buying cars with lower mileage.
Jon (lotushardtops.com)
fridaypassion said:
Theres a lot of talk about cars being too low mileage etc but in my experience they do give less issues than an equivalent high miler. You probably arent going to be replacing balljoints and head gaskets on a 25000 mile Elise and you probably are on a 72000 mile one.
And yet a 72000 mile car with balljoints etc just replaced could well be a better bet than one with 25000 and no replacement...fridaypassion said:
People generally are OK with higher mileage when they have owned a Lotus before and are a bit more familiar with them. New people coming into the marque will have heads full of stories of toe link and head gaskets exploding and want to mitigate the apparent risk by buying cars with lower mileage.
Oops, picking up my first Lotus, a 111R with 49k on the clock tomorrow 
I bought my Loti new four years ago and although I keep it garaged and only drive it in the dry, I haven't worried about putting the miles on it, I want to enjoy it, I don't enjoy it in the wet or at night, so in that respect the miles are kept low, it's also one of three cars.
Ultimately, I don't care enough about it's resale value to keep the miles off it, It gets specialist servicing and is kept well, I almost had to sell it a couple of times but another avenue came along allowing me to keep it, bloody house extensions!!
If you splash out on a car of any Marque/make why stifle the usage of it just because of value return, if you do that then you can't really afford it in the first place, I admire those that buy new motors like pokers and dump 70/80/100k miles on them and then sell/trade for a new one, that's proper use of a motor as it should be, and I'd buy a 100k mile Porker/Loti/Fez if the paper work is good and the car reflects it.
Ultimately, I don't care enough about it's resale value to keep the miles off it, It gets specialist servicing and is kept well, I almost had to sell it a couple of times but another avenue came along allowing me to keep it, bloody house extensions!!
If you splash out on a car of any Marque/make why stifle the usage of it just because of value return, if you do that then you can't really afford it in the first place, I admire those that buy new motors like pokers and dump 70/80/100k miles on them and then sell/trade for a new one, that's proper use of a motor as it should be, and I'd buy a 100k mile Porker/Loti/Fez if the paper work is good and the car reflects it.
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