Whats it worth
Discussion
Just got offered £6000 for my Elise over the phone from a lotus dealership. Trying to trade it in for an Exige. Its an S1 118bhp black 56000 miles all the extra's the S1 had at the time including Hardtop. Got a few stonechips but thats to be expected id think. Also just fitted S2 biilies to it a month ago. Surely £6000 is a bit low?
if the dealer is a main lotus dealer, they will be unlikely to retail it back out (too old, too high mileage, too much risk on their part), so they will be banking on a profit to a trader, who will then sell it to an independant for a small profit, who will then bung on a warranty, MOT and a stack of profit.
From looking at a lot of S1 Elises recently, I noticed that standard ones were being advertised at anything from 7k (with cat3 or 4 damage) up to in excess of £10.5k (hopeful people clearly on drugs).
The general value for the standard S1 sat between 7.5k and 9k depending on mileage, age, condition etc.. I've also noticed that people selling are re-advertising their cars at reduced costs as they're having trouble selling them - I did this for about 8 weeks whilst selling the Exige - I ended up reducing it by about 3k from the initial price.
As an example of the market, I just picked up a 1999 S1 Elise 111s, loads of history, good condition, only 33k miles for under £9k.
We looked at 2 standard cars, both year 2000, higher mileage (50-60k ish), one a complete shed, one nice with a hard top, both priced at £9500 & £9750 respectively.
Dealers will always offer piss-poor prices, but then they usually have to spend a bit of money getting them up together, offer some kind of used car warranty (maybe) and they take the risk on of not being able to flog it whilst it depreciates and interest accrues. They may not offer much, but it's certainly a convenient way of shifting a car on if you need the money.
I don't think £6k is all that ridiculous.
The general value for the standard S1 sat between 7.5k and 9k depending on mileage, age, condition etc.. I've also noticed that people selling are re-advertising their cars at reduced costs as they're having trouble selling them - I did this for about 8 weeks whilst selling the Exige - I ended up reducing it by about 3k from the initial price.
As an example of the market, I just picked up a 1999 S1 Elise 111s, loads of history, good condition, only 33k miles for under £9k.
We looked at 2 standard cars, both year 2000, higher mileage (50-60k ish), one a complete shed, one nice with a hard top, both priced at £9500 & £9750 respectively.
Dealers will always offer piss-poor prices, but then they usually have to spend a bit of money getting them up together, offer some kind of used car warranty (maybe) and they take the risk on of not being able to flog it whilst it depreciates and interest accrues. They may not offer much, but it's certainly a convenient way of shifting a car on if you need the money.
I don't think £6k is all that ridiculous.
Edited by MiniDiva on Wednesday 29th August 16:53
I would be confident in gettin at least 8k selling privatly. I had it advertised a few months back for 9750 and got a few phone calls, Only thing was i was still in the honeymoon period and couldnt let her go. Now that i can afford an exige id have no problems parting with her. Think ill put it on for 9k and see what happens
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