High second hand prices vs new discounts

[SonicHedgeHog]

Just been looking through the classified (AGAIN!) and I can't help notice the poor correlation between age/mileage and price versus the original list price. This really applies more to trade ads than private ones. I appreciate we're not talking Ford Mondeos here, but could someone explain these prices:

56 plate Toyota 'S' with 4800 miles is £17990 incl armorfend, black leather and metallic paint
New list price is £24900

Now I understand the unusually low miles, but why, unless you are totally maxing out your budget, would you buy the 2 1/2 year old car, when a new one is only a little bit more (especially after haggling). Do people pay these sticker prices, or do Elises have the best residual values of any new car on sale today?

[bogie]

"do Elises have the best residual values of any new car on sale today"

yeah probably !

when 10 year old ones are still £8K (£20K new ish) thats not bad in my book ...most 10 year old cars have been scrapped and most 5 year old mainstream ones are at 20% residuals..so yeah..Elises are good and dealer prices are silly IMO

[SonicHedgeHog]

[quote=bogie..so yeah..Elises are good and dealer prices are silly IMO
[/quote]

And yet people still buy cars from the dealers? I fully understand all the reasons in favour of buying from a dealer (I always have), but these prices are just ridiculous. If you haggle hard, maybe get some fancy paint and a sports/touring pack thrown in you could run the car for next to nothing for 3 years and then sell it for something like 60% of what you paid for it. I'm all for strong residuals, but there comes a point where they become so strong that buying a used car doesn't make sense.

[bogie]

yeah...well a lot of new owners buy from dealers as they dont know any better -they think they are getting a new deal as they are used to "regular" cars I guess

most people on their 2nd or 3rd Elise will be buying something special, private

me personally, Ive no need to go to a dealer when there are so many bargain used ones out there that I would like and I confident that its such a simple car, theres not much to go wrong

[Stitch]

This thread is superb!!!

On every other forum on here (and particularly on Porsche) there are countless threads bemoaning low residuals

Here we have a thread complaining about high residuals!

Off to post a link to this thread in the porsche forum - should cheer all the 996tt owners up

[SonicHedgeHog]

Stitch said:

This thread is superb!!!

On every other forum on here (and particularly on Porsche) there are countless threads bemoaning low residuals

Here we have a thread complaining about high residuals!

Off to post a link to this thread in the porsche forum - should cheer all the 996tt owners up

Fair point, mate. I'm not moaning really. I've got a budget maybe in the £15k region and basically I'm looking at a K series car or the cheapest Toyota ones. I like the K-series engines so don't mean for that last sentence to sound derisory, it's just that spending £15k on a 5+ year old car that cost less than £30k new and isn't in short supply just doesn't make sense to me. Better get used to it I guess.

[sdd]

If you look hard enough and haggle £15k or very close to is buys you a Toyota engined Exige these days all day long

[miro]

sdd said:

If you look hard enough and haggle £15k or very close to is buys you a Toyota engined Exige these days all day long

My Elise S was recently values (by SELOC) at 15-16k prolly a bit less now. 56 Plate, Chrome Orange, 2Bular Zorst, Popercross VIS Induction and Black 111R wheels....... oh it has done 27000miles though

[The Bandit]

SonicHedgeHog said:

Just been looking through the classified (AGAIN!) and I can't help notice the poor correlation between age/mileage and price versus the original list price. This really applies more to trade ads than private ones. I appreciate we're not talking Ford Mondeos here, but could someone explain these prices:

56 plate Toyota 'S' with 4800 miles is £17990 incl armorfend, black leather and metallic paint
New list price is £24900

Now I understand the unusually low miles, but why, unless you are totally maxing out your budget, would you buy the 2 1/2 year old car, when a new one is only a little bit more (especially after haggling). Do people pay these sticker prices, or do Elises have the best residual values of any new car on sale today?

I think thats where the confusion lies....list is £24,900-the OTR is £900 odd,met paint £1k,leather(touring pack)is around £1k,so the 'real' list is nearer £28k.

[HiRez]

Interesting topic.

Been following the used prices of S2 Exiges for a while and they seem to go up! Before I saw more than a few of them listed in the 16,5 - 18,5k bracket. Now most lie around 20k-22k (approximately same year and mileage). Before there were 100-105 ads listed now only 60-75...

I do hear that lots of them (can anyone verify?) are being sold on the continent (that's what I am going to do) because of low euro/pound exchange rate. I even see dealers advertising this fact in the ads.

For people living in France or Belgium where import duties are very limited this kind of deal represents excellent value. Compare the RHD Exiges being listed here at 48k euro compared to similar ones in the UK for around half that in UK pounds.

Seeing that new Exige S-es cost 72.000 Euro in The Netherlands a used one at 24k pounds + 12k euro import duty (for a 2006 -its more or less depending on age) is an acceptable alternative :-) Unfortunately my budget is not quite this high so I looking for a NA version or I will wait a little longer.

HiRez

[S Works]

Price is merely an "invitation to treat". Get haggling

[Bing o]

sdd said:

If you look hard enough and haggle £15k or very close to is buys you a Toyota engined Exige these days all day long

But why would you want to get half the economy, double the tax, and little more performance?