Discounted stock Emiras...
Discussion
They've just dropped thousands more off their stock prices. Almost daily price drops now.
The big problem here is they're killing the Emira value. As they hold a fair percentage of all the Emiras currently for sale they affect the AutoTrader algorithms that calculate what a car is worth. Now if you try and list an Emira on Autotrader you have to go mid £50Ks or AutoTrader tells everyone the car is over priced.
Eventually these cars will go, but with all the horror stories online putting people off they will probably keep falling for a while. I'm curious to see just how low they go.
The big problem here is they're killing the Emira value. As they hold a fair percentage of all the Emiras currently for sale they affect the AutoTrader algorithms that calculate what a car is worth. Now if you try and list an Emira on Autotrader you have to go mid £50Ks or AutoTrader tells everyone the car is over priced.
Eventually these cars will go, but with all the horror stories online putting people off they will probably keep falling for a while. I'm curious to see just how low they go.
RS_MAN_CHILD said:
Square Leg said:
Until you buy an Emira its not easy to appreciate just how much support you actually need if you only have 1 keyfob & need the firmware updates.....
On the Emira forum owners are getting told 2-3 month wait times for warranty work, and no chance of a courtesy car.The problem is people expect Porsche levels of service. They expect to phone up a local dealer 20 minutes down the road, get booked in next week and be given a new 911 to drive around in. The realities of Lotus ownership soon hit hard when there's a problem...
RS_MAN_CHILD said:
Your spidey senses served you well mine had no faults I got lucky I guess...but lack of aftersales support & not even willing to swap for a more comfortable chassis despite me offering a few K to help them with their admin LOL!
Several people have not had a great experience on not just Emira but other more expensive marques......I guess if its just a giant warehouse full of exotica & does not really offer traditional dealer services (apart from finance packages) one could argue its just a reseller not a proper dealer at all......!
Until you buy an Emira its not easy to appreciate just how much support you actually need if you only have 1 keyfob & need the firmware updates.....
I an Emira owner, bought from Auto100 and whilst the buying experience left a lot to be desired, the car itself has been ok. One minor alert, that I took to Hendy and they resolved and did all the necessary software updates, 2 days after I called them about it.Several people have not had a great experience on not just Emira but other more expensive marques......I guess if its just a giant warehouse full of exotica & does not really offer traditional dealer services (apart from finance packages) one could argue its just a reseller not a proper dealer at all......!
Until you buy an Emira its not easy to appreciate just how much support you actually need if you only have 1 keyfob & need the firmware updates.....
The support I have received and anyone should get, for a car still in warranty, is the same as if I had bought from a Lotus Dealership. If thats not happening, take it to another Dealership if thats viable, or complain to Lotus Customer Care.
Beachbum said:
I an Emira owner, bought from Auto100 and whilst the buying experience left a lot to be desired, the car itself has been ok. One minor alert, that I took to Hendy and they resolved and did all the necessary software updates, 2 days after I called them about it.
The support I have received and anyone should get, for a car still in warranty, is the same as if I had bought from a Lotus Dealership. If thats not happening, take it to another Dealership if thats viable, or complain to Lotus Customer Care.
Having a look at the stock on autotrader and despite the feedback here I have to say I'm a bit tempted, someone speak some sense into me please... The support I have received and anyone should get, for a car still in warranty, is the same as if I had bought from a Lotus Dealership. If thats not happening, take it to another Dealership if thats viable, or complain to Lotus Customer Care.
Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
https://www.lotuscars.com/en-GB/enhance/emira
bus_ter said:
They've just dropped thousands more off their stock prices. Almost daily price drops now.
The big problem here is they're killing the Emira value. As they hold a fair percentage of all the Emiras currently for sale they affect the AutoTrader algorithms that calculate what a car is worth. Now if you try and list an Emira on Autotrader you have to go mid £50Ks or AutoTrader tells everyone the car is over priced.
Eventually these cars will go, but with all the horror stories online putting people off they will probably keep falling for a while. I'm curious to see just how low they go.
Private adverts dont show the pricing indicator as far as I know on the website, its only trade sales.The big problem here is they're killing the Emira value. As they hold a fair percentage of all the Emiras currently for sale they affect the AutoTrader algorithms that calculate what a car is worth. Now if you try and list an Emira on Autotrader you have to go mid £50Ks or AutoTrader tells everyone the car is over priced.
Eventually these cars will go, but with all the horror stories online putting people off they will probably keep falling for a while. I'm curious to see just how low they go.
Johnson897210 said:
Beachbum said:
I an Emira owner, bought from Auto100 and whilst the buying experience left a lot to be desired, the car itself has been ok. One minor alert, that I took to Hendy and they resolved and did all the necessary software updates, 2 days after I called them about it.
The support I have received and anyone should get, for a car still in warranty, is the same as if I had bought from a Lotus Dealership. If thats not happening, take it to another Dealership if thats viable, or complain to Lotus Customer Care.
Having a look at the stock on autotrader and despite the feedback here I have to say I'm a bit tempted, someone speak some sense into me please... The support I have received and anyone should get, for a car still in warranty, is the same as if I had bought from a Lotus Dealership. If thats not happening, take it to another Dealership if thats viable, or complain to Lotus Customer Care.
Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
https://www.lotuscars.com/en-GB/enhance/emira
I’m toying with getting a V6 FE Auto, one I test drove back in summer is still available, and I’m in a better position to get one if there’s a fair deal to be had.
2023 car with a fair few thousand miles on it. In my head that’s better than a car that’s done a few hundred as at least it means it’s had time being driven, rather than low mileage because it’s been in and out of workshops for fixes for weeks.
Dealer said they can’t provide me any information on if any warranty work has been done on it, which I’m slightly dubious about. Maybe it’s a lotus thing but any other car I’ve had there’s been electronic records of previous work.
2023 car with a fair few thousand miles on it. In my head that’s better than a car that’s done a few hundred as at least it means it’s had time being driven, rather than low mileage because it’s been in and out of workshops for fixes for weeks.
Dealer said they can’t provide me any information on if any warranty work has been done on it, which I’m slightly dubious about. Maybe it’s a lotus thing but any other car I’ve had there’s been electronic records of previous work.
Edited by Greshamst on Thursday 23 January 11:48
Johnson897210 said:
Having a look at the stock on autotrader and despite the feedback here I have to say I'm a bit tempted, someone speak some sense into me please...
Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
https://www.lotuscars.com/en-GB/enhance/emira
A warranty, extended or otherwise, is only as good as the dealer network set to deliver it. I think I would be looking at how good Lotus dealers are in this regard. Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
https://www.lotuscars.com/en-GB/enhance/emira
In my experience, when I owned a S3 Exige, they were poor and not at all responsive. And it isn’t as if you can simply go the next town and another dealer. In the end it took a number of exchanges with Lotus HQ to get it sorted. When I sold the Exige I was considering an Evora, as slightly easier to live with, but the dealer support really put me off and I ended up (I know yawn…) buying a Cayman.
When I asked the Lotus Dealer about them working on my Lotus Carlton they said they wouldn’t touch it as it was too old and specialist for them!
Johnson897210 said:
Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
The Emira Forum says Lotus have now stopped offering extended warranties on Emira's (Can anyone confirm with certainty?).If true that's quite concerning, and you have to ask the question Why?
interstellar said:
Johnson897210 said:
Beachbum said:
I an Emira owner, bought from Auto100 and whilst the buying experience left a lot to be desired, the car itself has been ok. One minor alert, that I took to Hendy and they resolved and did all the necessary software updates, 2 days after I called them about it.
The support I have received and anyone should get, for a car still in warranty, is the same as if I had bought from a Lotus Dealership. If thats not happening, take it to another Dealership if thats viable, or complain to Lotus Customer Care.
Having a look at the stock on autotrader and despite the feedback here I have to say I'm a bit tempted, someone speak some sense into me please... The support I have received and anyone should get, for a car still in warranty, is the same as if I had bought from a Lotus Dealership. If thats not happening, take it to another Dealership if thats viable, or complain to Lotus Customer Care.
Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
https://www.lotuscars.com/en-GB/enhance/emira
and paint defects after the initial 3 year period from new even if the additional 1 or 2 year warranty is taken out.
Given there are high numbers of ongoing and continuing issues with cars across all build years with panel defects and paint bubbling requiring extensive and very costly remedial works and the fact that Lotus have failed to address this dire situation with even late build 2024 Emiras affected then the realistic outlook looks particularly bleak for owners who will have to pay for remedial work themselves at 3+ years.
Also tend to think if Lotus have specifically excluded the possibility of renewing the warranty beyond 3+2 years at this stage they are unlikely to in the future especially given the inherent gremlins such as electrical and water ingress affecting the cars.
Greshamst said:
I’m toying with getting a V6 FE Auto, one I test drove back in summer is still available, and I’m in a better position to get one if there’s a fair deal to be had.
2023 car with a fair few thousand miles on it. In my head that’s better than a car that’s done a few hundred as at least it means it’s had time being driven, rather than low mileage because it’s been in and out of workshops for fixes for weeks.
Dealer said they can’t provide me any information on if any warranty work has been done on it, which I’m slightly dubious about. Maybe it’s a lotus thing but any other car I’ve had there’s been electronic records of previous work.
I've been toying with the idea of an Emira to replace my Exige, but absolutely not a consideration at the moment. Absolutely gorgeous cars, but they are beset with problems and still depreciating at an enormous rate. If Auto100 are shifting them at 56 what are they buying at - mid/high 40s? Screw that.2023 car with a fair few thousand miles on it. In my head that’s better than a car that’s done a few hundred as at least it means it’s had time being driven, rather than low mileage because it’s been in and out of workshops for fixes for weeks.
Dealer said they can’t provide me any information on if any warranty work has been done on it, which I’m slightly dubious about. Maybe it’s a lotus thing but any other car I’ve had there’s been electronic records of previous work.
Edited by Greshamst on Thursday 23 January 11:48
I'm gonna spend some money on my Exige and keep it for another year. If it's a very longterm purchase then perhaps depreciation isn't a concern, but the reliabiity would still really worry me given the lack of proper support.
When things settle, perhaps in spring, maybe I'll change my view, but for now it's a hard pass.
Johnson897210 said:
Having a look at the stock on autotrader and despite the feedback here I have to say I'm a bit tempted, someone speak some sense into me please...
Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
https://www.lotuscars.com/en-GB/enhance/emira
I wouldn't ask for 'sense' round here. Too many people who don't own Emira's who like to talk them down far's I can see. There's a FB group - the UK one - with more balanced views and it seems more of the people there actually own one of these cars. Up to you. I gave into temptation when they hit £62K and have been completely happy with the car - more than happy - it's a fantastic car. In reality probably 99% who actually own one will agree with this and at worst put up with the less that perfect CS from Lotus.Extended warranty appears to be available for 2 more years (£999 for 1 yr; £1,799 for 2) so may hedge some of the risk but I do wonder what happens after 5 years, i.e. can you just keep on extending like Porsche up to 15 years old, or is 5 years the maximum limit?
https://www.lotuscars.com/en-GB/enhance/emira
If you want something with no risk a 2005 Mondeo should do the trick.
Investigated the warranty before buying and took it to Lotus to ensure what I was being told was correct. They offered 1 or 2 years extended warranty which had to be purchased effectively at the same time as the car, by the ORIGINAL owner. It is transferable but I know of no one, when buying a new car which comes with 3 years warranty, who would seek to extend that warranty into years 4/5 at time of purchase.
They offered this warranty, which seems to be the same type of ‘bulletproof’ manufacturer backed product as offered by Porsche, only when cars were being sold via the direct sales model.
They aren’t planning to revisit nor offer again.
As mentioned in PX’d my Elise FE for the Emira. Time and continued awful weather have prevented me from using it much so far.
The car makes me smile when the garage door is opened and I’ve enjoyed my time with it, such as it’s been. I suspect many are looking at prices questioning how low they can go. As others have said, it feels special, moreso than a comparable 718 or M car. The depreciation seems heavy but an M4 is much the same list price in 2023 and they are making mid £50’s at dealers now. Not much different.
We have all enjoyed/suffered through an unprecedented period of minimal depreciation and high used car prices. We are now firmly back to what was once normal.
Lotus cars have always enjoyed strong residuals. The Emira is in relative volume production and at £90k list, would be expected to lose £18k of that value once it’s driven out of the showroom/registered. I struggle to believe that those buying new at £90k didn’t anticipate that two years later the car would be worth £60ish. Is it really that unexpected?
Some cars have had loads of reported problems but many owners have had no issue at all.
I get the feeling there are lots of people willing Lotus to fail and talking the Emira down for giggles. This is the lengthiest Lotus related thread I’ve ever seen on PH and it’s mostly doom and gloom. If you think the Emira is a dud and you don’t want a lotus because of the company, dealers, warranty or anything else, then you are fortunate because you don’t have to buy one and can choose one of the myriad of competitors.
I don’t see why the same posters want to return again and again to this thread whining and moaning about the value of cars they don’t own and won’t buy.
Still, it is PH.
They offered this warranty, which seems to be the same type of ‘bulletproof’ manufacturer backed product as offered by Porsche, only when cars were being sold via the direct sales model.
They aren’t planning to revisit nor offer again.
As mentioned in PX’d my Elise FE for the Emira. Time and continued awful weather have prevented me from using it much so far.
The car makes me smile when the garage door is opened and I’ve enjoyed my time with it, such as it’s been. I suspect many are looking at prices questioning how low they can go. As others have said, it feels special, moreso than a comparable 718 or M car. The depreciation seems heavy but an M4 is much the same list price in 2023 and they are making mid £50’s at dealers now. Not much different.
We have all enjoyed/suffered through an unprecedented period of minimal depreciation and high used car prices. We are now firmly back to what was once normal.
Lotus cars have always enjoyed strong residuals. The Emira is in relative volume production and at £90k list, would be expected to lose £18k of that value once it’s driven out of the showroom/registered. I struggle to believe that those buying new at £90k didn’t anticipate that two years later the car would be worth £60ish. Is it really that unexpected?
Some cars have had loads of reported problems but many owners have had no issue at all.
I get the feeling there are lots of people willing Lotus to fail and talking the Emira down for giggles. This is the lengthiest Lotus related thread I’ve ever seen on PH and it’s mostly doom and gloom. If you think the Emira is a dud and you don’t want a lotus because of the company, dealers, warranty or anything else, then you are fortunate because you don’t have to buy one and can choose one of the myriad of competitors.
I don’t see why the same posters want to return again and again to this thread whining and moaning about the value of cars they don’t own and won’t buy.
Still, it is PH.
So basically unless an original owner took out an extended Lotus warranty for either 1 or 2 years at the time of first purchase when the car was new there is no option whatsoever to take out an extendable Lotus warranty for either an additional 1 or 2 years even though the car is less than 3 years old and under the existing Lotus warranty.
How absolutely bizarre.
How absolutely bizarre.
av185 said:
So basically unless an original owner took out an extended Lotus warranty for either 1 or 2 years at the time of first purchase when the car was new there is no option whatsoever to take out an extendable Lotus warranty for either an additional 1 or 2 years even though the car is less than 3 years old and under the existing Lotus warranty.
How absolutely bizarre.
Anyone know of 3rd party options ?How absolutely bizarre.
Beachbum said:
av185 said:
So basically unless an original owner took out an extended Lotus warranty for either 1 or 2 years at the time of first purchase when the car was new there is no option whatsoever to take out an extendable Lotus warranty for either an additional 1 or 2 years even though the car is less than 3 years old and under the existing Lotus warranty.
How absolutely bizarre.
Anyone know of 3rd party options ?How absolutely bizarre.
Self warranties or slush fund the obvious alternative but as ever and as everyone knows to their cost this could well prove relatively ruinous ££.
Frankly as someone who has dealt with Lotus over several years ordering one of the first V6FE manuals in
2021 and an i4 dct FE in 2022 I thought I knew all the
underhand stunts they typically pulled but I am absolutely stunnned at this latest warranty situation which really beggars belief at their incompetence and clear lack of future confidence in the Emira.
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