Guess the value of my 111R in 4 years?

[shot2bits]

The Nissan (bought to avoid high mileage on my Elise) covered 250miles before the head gasked failed on the A11. I don't really want to buy another banger - before I make the decision to use the Elise every day, what do you guys reckon my 111R (with touring & aircon) will be worth in 4 years with say 50-60K miles on the clock? I figured 4 years is a reasonable time to keep the car before buying another... (Elise / Exige of course ;) )

[maxf]

Maybe 15k? Depends when the S3 comes out IMO. 60k is a lot of miles for an elise so it will take a hammering, IMO.

My s2 was 26k new in 2002, I paid 20,500 in October 2003 and sold for 16,750 in April(?) 2005 - with 13k on the clock.

>> Edited by maxf on Tuesday 13th September 16:22

[alloypearltam]

At a guess I would have said £10 - £12K. I am basing that the car being worth 40% of it's original price after 4 years.

I absolutely love the Elise, although I was told about 4 months ago to steer clear of one, if I was keen to own a car with good residuals. There again I think even the cars with alleged good residuals are pants at the moment - so if you like it go and buy it.

[maxf]

alloypearltam said:

At a guess I would have said £10 - £12K. I am basing that the car being worth 40% of it's original price after 4 years. I absolutely love the Elise, although I was told about 4 months ago to steer clear of one, if I was keen to own a car with good residuals. There again I think even the cars with alleged good residuals are pants at the moment - so if you like it go and buy it.

Residuals are much better than the normal 40%. 7 year old elises are currently at about 9-11k, so I think a toyota lump S2 should do better. All just a guessing game though - who knows!

Thinking about your comment (not a dig) - I'm not sure what else you can buy with better residuals than an Elise? New boxter maybe?

[RobM77]

About £15k probably. Sounds depressing, but the mileage is the main issue. A friend of mine bought a 1998 Elise in 2000 for £20k and traded it in at £8.5k in 2004. The problem was that he'd racked up 57k miles, when most cars on the market of that vintage had nearer 15k on the clock.

This is worrying me slightly, as I'm about to buy an S2 to use everyday... eek!

[piooly]

The good thing about the elise is that is has a sort of price break point. You dont really get many under the £9000 mark regardless of age or millage cause they are so sort after. Bearing that in mind I think you new 111R would be worth around the 15K mark. you could always get one to the spec you want but second hand. a year old if that maybe, that will have lost a slight chunk and wont lose as much in the long run because its already lost a bit.

[shot2bits]

Yeah, as much as Lotus market them (S2's) as every day cars, low mileage appears to be the only way to guarantee residual value. Not a problem if you're loaded I guess... I’d thought the R would be worth about £15-16K….

[mustard]

maxf said:

alloypearltam said: At a guess I would have said £10 - £12K. I am basing that the car being worth 40% of it's original price after 4 years. I absolutely love the Elise, although I was told about 4 months ago to steer clear of one, if I was keen to own a car with good residuals. There again I think even the cars with alleged good residuals are pants at the moment - so if you like it go and buy it. Residuals are much better than the normal 40%. 7 year old elises are currently at about 9-11k, so I think a toyota lump S2 should do better. All just a guessing game though - who knows! Thinking about your comment (not a dig) - I'm not sure what else you can buy with better residuals than an Elise? New boxter maybe?

Factor in running costs of around a third of a TVR AND an engine that doesnt have a life expectancy of about 20K then running an Elise would be a bargain in comparision!

[DJ111S]

I'd guess at somewhere around the £15k mark as well. 50% after four years seems fair and the Toyota factor should up hold them a bit more.

[alloypearltam]

Sorry if you all felt I was being negative about an Elise. I certainly wasn't. I looked at a 111R with touring pack and aircon about 2 months ago.

The leasing company suggested that residually the car wouldn't be strong. Having said that they were the first people to fall on the floor when I told them I could only get on average £19.5K for a 2 month old German Prestige Diesel that cost £30K originally.

As for a Boxster, my experience of those residually hasn't been that great either. There's even a poor chap on here that bought an X3 for £42K and it's now worth £23K

At the end of the day the car is only worth what someone is prepared to bid for it, if you enjoy the car, the depreciation is secondary and I am sure you would enjoy it.

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>> Edited by alloypearltam on Tuesday 13th September 19:42