What is the expected fully depreciated value of Lotus Elise?

[speedracing944]

How low is it going to go? I have watched Lotus Elise used values for the past 3 years and the good 20K miles examples have been holding strong at $28K-$31K for the past couple years. Do you expect the values to drop much further or will they continue to hold as long as the cars are maintained?

Have they hit the bottom of the curve where only mileage and condition are factors?

Speedy

[Jim Bremner]

I've been watching them as well with a buy in the $15k kinda mind.

The Corvette and the Lotus have fallen about the same.

[ZOO]

They don't seem to be falling much below $35000 in Canada. Elises and Exiges are specifically excluded from Canada's importation list to (presumably) protect the Canadian dealers. This means that Canadian cars are holding their value nicely because less expensive US cars can't be imported and registered for the street.

Lotus isn't building any more -- and they are exceptional machines. I love mine, and have put almost 8000 kms on it since April. I don't regret what I paid for it, and it is likely worth the same now as when I purchased it, despite almost doubling the mileage to date.

[EarlyPorsche]

Prices are still too high. You're not getting much for your dollar at the current used prices.

[sammyg2]

What is the expected fully depreciated value of Lotus Elise?

It's british after all.............................

[6e0ff]

I would expect nice low mile examples to be available for the mid to low 20s in another couple years with higher mile worn out cars in the high teens. The SC cars will always bring a premium of course. There just aren't enough Elises out in the market to get to the mid teens, in my opinion. In 10 years, who knows what will happen with them? Even in the mid 20s for a nicely cared for Elise with 30k miles, I think they are a hell of a bargain. Consider the money that people are still getting for low mile, well cared for Honda S2000s and an S2000 will never have the name premium that a Lotus does.

[doug_porsche]

Depends on the year. The 05's are about 3-5K less than the 06's. There are some minor differences between the 05's and the 06's (Led tail lights, DBW throttle, seats). I have driven both and am not sure the 06 is worth the premium (even though I own an 06).

I suspect a well maintained, clean NA Elise will hover in the mid to low 20k range. The supercharged cars more.

Watch out for wreck repaired cars as the car has an aluminum monocoque that is glued together and expensive/impossible to fix.

[johnsjmc]

They also might go the way of other fine cars like a 944 turbo which was raved about in mid/late 80's and are now $3-10?. A 911 of the same vintage has held up much better.
I don,t know anything about the Elise but how reliable/durable have they been?
The 944T was/is fast but thet turned out to be more expensive to maintain than a 911. A Honda S2000 is as reliable as a Civic . If the Elise is as fragile as earlier Lotii then they will continue to drop in large amounts compared to new.

[Racerbvd]

Originally Posted by doug_porsche

Depends on the year. The 05's are about 3-5K less than the 06's. There are some minor differences between the 05's and the 06's (Led tail lights, DBW throttle, seats). I have driven both and am not sure the 06 is worth the premium (even though I own an 06).

I suspect a well maintained, clean NA Elise will hover in the mid to low 20k range. The supercharged cars more.

Watch out for wreck repaired cars as the car has an aluminum monocoque that is glued together and expensive/impossible to fix.

I know of an Elise with a "Rebuilt Title" that sold in FL in the past few months for $19K but if you want a very clean & maintained 05 one with the sport opt. my B&B partner might let his go for around $30K

[McLovin]

Originally Posted by speedracing944

How low is it going to go? I have watched Lotus Elise used values for the past 3 years and the good 20K miles examples have been holding strong at $28K-$31K for the past couple years. Do you expect the values to drop much further or will they continue to hold as long as the cars are maintained?

Have they hit the bottom of the curve where only mileage and condition are factors?

Speedy

Hold values of $28K-$31K, forever?

Not likely.

Almost all cars eventually become $5,000 cars. Even $90,000 928s.

Elise, being a pretty cool car, may be more like an SC/Carrera, and keep more value than $5K. But eventually it will be a $10-$12K car.

I don't know the production number of Elises, but my guess would be tens of thousands. Plenty of supply for the relatively limited demand for a car like that. Values are still fairly high, but they are all still fairly new cars. Lots and lots of depreciation left in them.

[johnsjmc]

They will probably follow cars like the Boxster . When fairly new then fairly desirable. The boxster held strong for many years now you can buy some under $10K

[enzo1]

Originally Posted by johnsjmc

They will probably follow cars like the Boxster . When fairly new then fairly desirable. The boxster held strong for many years now you can buy some under $10K

yeah but the Boxster has the potential RMS problem hanging over it's head where the toyota engine should be bullet proof or at least easier to fix and maintain???

[johnsjmc]

Originally Posted by enzo1

yeah but the Boxster has the potential RMS problem hanging over it's head where the toyota engine should be bullet proof or at least easier to fix and maintain???

Yes but a Lotus is still an English car. I had an Elan briefly in the late 60's . Even with a Toyota engine there is a lot more to go wrong with a car other than the engine.

[doug_porsche]

Originally Posted by johnsjmc

Yes but a Lotus is still an English car. I had an Elan briefly in the late 60's . Even with a Toyota engine there is a lot more to go wrong with a car other than the engine.

I have had mine for 2+ years. It has been very reliable. Starts, runs, nothing falls off, 20+ MPG, keeps up with 99% of ALL the traffice situations I have been in; All at totally legal speeds mind you.

I think I have challenged more than one persons view of: "its a cute little British toy, it will fall behind or break and we will not have to worry about it anymore".

[enzo1]

hmm, 2 different points of view here...nice side by side shot

[McLovin]

You have to remember all Elises are still late model cars, most with low miles.

Time and miles kills the value of just about every production car on the road. A 15 year old Elise with 130,000 miles on it is not going to be a $20K car.

[racer]

Yes, but I don't think Elise's rack up the miles that much. I think of them as "motorcycles" and most owners of Elise's have 1,2 or 3 other cars in which to use. heck, my '87 944 only has 45K miles and its 24 years old.

The price for damaged/repaired cars will drop since repairing them properly is very expensive (whether its the aluminum or the body work).

Production numbers are small but suprisingly, because of the Toyota sourced motors, they shouldn't have any real reliability issues.

Part of their resale value will also depend on whether the repalcement model meets/exceeds the Elise's current performance and price value.

[enzo1]

new cars? maybe a face lifted Elise in the video?... Lotus Cars - Frankfurt International Motor Show 2011