S1 Depretiation?
Discussion
Hi,
I want to buy an S1 Elise and would have qround £12k to spend on a 97/98 car. What I don't want is to buy now and find in 2 years that it's only worth £6k. I was looking at Elan prices and these seem to be pretty constant now but can anyone give me a rough prediction on what an Elise may be worth in a couple of years time. I was hopeing that since it's dropped around 60% already surely it won't go much lower?
Thanks.
Alan.
I want to buy an S1 Elise and would have qround £12k to spend on a 97/98 car. What I don't want is to buy now and find in 2 years that it's only worth £6k. I was looking at Elan prices and these seem to be pretty constant now but can anyone give me a rough prediction on what an Elise may be worth in a couple of years time. I was hopeing that since it's dropped around 60% already surely it won't go much lower?
Thanks.
Alan.
I suspect that Elises will not do as well as Elans, as there are a lot more of them about.
If you get one in good nick, with low miles, and keep it faultless, you'll probably get 10k in a couple of years. I think though, that for tatty examples, with frayed seats, paintwork knocks, high mileage etc, the floor will be a lot lower.
I found a 99 Sport 135 for 13.5K, with very low mileage, so they do exist for sensible money.
Buy well. Get a colour that ages well (mine have both been Norfolk Mustard, which is one of the worst colours I believe. Titanium, or silver the best), and keep it in the Lotus network if you want to keep the value high. Use a rain cape over the roof if it lives outside, to stop it fading, and keep everything dry.
Oh, and if you ever crash it, wave goodbye to your money. I suspect most people would tink twice about buying a badly kerbed one, let alone a damaged and repaired example. Suspension needs to be so well set up that any knocks to geometry can wreck it.
Good luck. They're great cars, and you'll be driving something with one of the most evocative badges around on the front of it.
If you get one in good nick, with low miles, and keep it faultless, you'll probably get 10k in a couple of years. I think though, that for tatty examples, with frayed seats, paintwork knocks, high mileage etc, the floor will be a lot lower.
I found a 99 Sport 135 for 13.5K, with very low mileage, so they do exist for sensible money.
Buy well. Get a colour that ages well (mine have both been Norfolk Mustard, which is one of the worst colours I believe. Titanium, or silver the best), and keep it in the Lotus network if you want to keep the value high. Use a rain cape over the roof if it lives outside, to stop it fading, and keep everything dry.
Oh, and if you ever crash it, wave goodbye to your money. I suspect most people would tink twice about buying a badly kerbed one, let alone a damaged and repaired example. Suspension needs to be so well set up that any knocks to geometry can wreck it.
Good luck. They're great cars, and you'll be driving something with one of the most evocative badges around on the front of it.
S1 depretiation will IMHO be governed by the view of the S2.
I was going to buy an S1, I set my budget and tested a few, very very nearly bought one! But, I went to a Lotus main dealer and was persuaded to test an S2 and it blew me away. It is a much much better car and makes the S1 feel like a kit car! The Lotus salesman agreed with that statement... Anyway I could not easily stretch to an S2 but the S2 experience had completely put me off the S1, it really was that much better again IMHO!!
So I have decided I will wait and buy an S2 in a couple of years when the prices are down. In the meantime I have ordered a new Clio Cup which I think will hold value over 2-3 years much better than an S1 of the same price and will do both track and road and is a right hoot!!!
I certainly don't think an S1 will hold value like an Elan cos' one, there are less elans than elise's and two, I get the impression that the Elan is a stronger and more robust car than the Elise. Price wise I would be surprised to see roughish S1s at 6K in two years, also I think with all Elise's high mileage will be an issue...
So you pay cash and take the choice. You'll always loose money on a car but the S1 is in a dangerous position at the moment. A great car but some are getting to five/six years old now. The S2 is better than the S1 and the depretatiation curve is not finished yet!
Cheers
Twit
I was going to buy an S1, I set my budget and tested a few, very very nearly bought one! But, I went to a Lotus main dealer and was persuaded to test an S2 and it blew me away. It is a much much better car and makes the S1 feel like a kit car! The Lotus salesman agreed with that statement... Anyway I could not easily stretch to an S2 but the S2 experience had completely put me off the S1, it really was that much better again IMHO!!
So I have decided I will wait and buy an S2 in a couple of years when the prices are down. In the meantime I have ordered a new Clio Cup which I think will hold value over 2-3 years much better than an S1 of the same price and will do both track and road and is a right hoot!!!
I certainly don't think an S1 will hold value like an Elan cos' one, there are less elans than elise's and two, I get the impression that the Elan is a stronger and more robust car than the Elise. Price wise I would be surprised to see roughish S1s at 6K in two years, also I think with all Elise's high mileage will be an issue...
So you pay cash and take the choice. You'll always loose money on a car but the S1 is in a dangerous position at the moment. A great car but some are getting to five/six years old now. The S2 is better than the S1 and the depretatiation curve is not finished yet!
Cheers
Twit
I was going to buy an S1, I set my budget and tested a few, very very nearly bought one! But, I went to a Lotus main dealer and was persuaded to test an S2 and it blew me away. It is a much much better car and makes the S1 feel like a kit car! The Lotus salesman agreed with that statement... Anyway I could not easily stretch to an S2 but the S2 experience had completely put me off the S1, it really was that much better again IMHO!!
So I have decided I will wait and buy an S2 in a couple of years when the prices are down. In the meantime I have ordered a new Clio Cup which I think will hold value over 2-3 years much better than an S1 of the same price and will do both track and road and is a right hoot!!!
You will lose way more on your Clio Cup than an S1. S1s are in slow motion depreciation now. Still if you like the Cup who cares, I just completely disagree with your logic.
Any decent S1 will have EXTREMELY low depreciation - compared to other cars on the road.
What can you think of which depreciates slower?
Here's my list:
1. New MINI
2. Porsche Boxster
3. 3-series Conv
Anything else in the £13-18K bracket is losing £3-4K p.a. Elises lose £1-2K p.a.
Waddya think?
What can you think of which depreciates slower?
Here's my list:
1. New MINI
2. Porsche Boxster
3. 3-series Conv
Anything else in the £13-18K bracket is losing £3-4K p.a. Elises lose £1-2K p.a.
Waddya think?
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