Lose money on a (classic) Lotus?
Discussion
I've had an Excel before, which turned out to be a cracker of a car, and went for the same amount I bought it for, and I look back at the S1 Elise with fondness..
.. so the question is, how much risk is your money at if you put it on a classic (or at least, not brand new) Lotus?
Obviously there's risk of a catastrophic rebuild cost, but for a car in decent nick, driven regularly and responsibly, it seems to be less expensive than depreciation on anything shiny and new, and potentially cheap-as-chips motoring.
Man maths or minor miracle? What would you buy?
.. so the question is, how much risk is your money at if you put it on a classic (or at least, not brand new) Lotus?
Obviously there's risk of a catastrophic rebuild cost, but for a car in decent nick, driven regularly and responsibly, it seems to be less expensive than depreciation on anything shiny and new, and potentially cheap-as-chips motoring.
Man maths or minor miracle? What would you buy?
I bought a 2016 Elise 220 Cup a year ago. It's the version with the large rear diffuser and bargeboards around the front wheels not specced on the MY17.5 Cup onwards.
These cars are quire rare (I think they only made 153 original S /220 Cup's before upgrading it to the 250 Cup).
I paid £37k for it with 4500 miles on the clock and hope that its not going to lose much from what I paid for it. I'm not expecting to make money on it but as long as it doesn't depreciate like your average car then i'll be happy.
I've done 4000 glorious miles in it this year including a trip to the Lotus Ypres Day in Belgium.
Its a great car and going to be with me for sometime.
I think if you buy the right Lotus in a loved condition and maintain it then I cant see you losing money on them.
These cars are quire rare (I think they only made 153 original S /220 Cup's before upgrading it to the 250 Cup).
I paid £37k for it with 4500 miles on the clock and hope that its not going to lose much from what I paid for it. I'm not expecting to make money on it but as long as it doesn't depreciate like your average car then i'll be happy.
I've done 4000 glorious miles in it this year including a trip to the Lotus Ypres Day in Belgium.
Its a great car and going to be with me for sometime.
I think if you buy the right Lotus in a loved condition and maintain it then I cant see you losing money on them.
Edited by Composite Guru on Thursday 1st November 14:23
Sold my S1 Elise earlier this year. Mine for 5 years and 20,000 fun miles. Bought for just over £8k, sold for £12k, but cost £4k in repairs and maintenance during my ownership (suspension refurb, exhaust upgrade, new roof, headgasket, brake lines, etc). Still happy with running a car for just the cost of insurance and petrol!
Bought an Evora now, they’ve been £30k for years but are now softening a bit just as I get one lol. Mine is a daily so miles will hurt its resale value as people seem to be scared to use them. Their loss!
Bought an Evora now, they’ve been £30k for years but are now softening a bit just as I get one lol. Mine is a daily so miles will hurt its resale value as people seem to be scared to use them. Their loss!
giveitfish said:
Bought an Evora now, they’ve been £30k for years but are now softening a bit just as I get one lol. Mine is a daily so miles will hurt its resale value as people seem to be scared to use them. Their loss!
Makes no rational sense at all - fibreglass car with Toyota mechanicals will take miles better than most. On the other hand the Evora delivers a supercar experience and I suppose the sensitivity to miles is part of that!My S3 Elise 1.6 club racer was purchased for £22,500 with 1600 miles in 2013, sold for £22,000 with 13,500 miles in 2015 and its just been sold again with 70k on it for 20,000. its a 2012 plate car
if thats not steady depreciation then i dont know what is! Key is to look after them and keep them tip top, if you do that it wont lose hardly any money.
if thats not steady depreciation then i dont know what is! Key is to look after them and keep them tip top, if you do that it wont lose hardly any money.
I bought a 1996 V8 Esprit with 43k miles on it in 2015 it cost me £19.5k, kept it for 18 months and did the usual servicing, new cats, new exhaust system, new discs and pads, probably cost me about £2.5k. I sold it 18 months later with 47k miles on it for £29.5K
Edited by phumy on Thursday 10th January 04:40
Edited by phumy on Thursday 10th January 04:42
giveitfish said:
Bought an Evora now, they’ve been £30k for years but are now softening a bit just as I get one lol. Mine is a daily so miles will hurt its resale value as people seem to be scared to use them. Their loss!
Sure I saw one advertised for £14K IIRC the other day which was a surprise. Also advertised as a 4 seater, how realistic is that?
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