Thinking of selling my Evora

[Kimbers]

One thing lock down and furlough has done is prove to me that I have too many outgoings when I am not earning my normal wage. You see my wages are made up of 30% Salary and 70% commission and when times are bad  (which they hadn't been for 5 years) I am over committed by several hundreds of pounds a month.

I have also realised, after booking a service this week, that I have done exactly 800 miles in 2 years. I have a service, MOT and Insurance coming up for renewal this month meaning I need £1000 just to keep it on the road.

Don't get me wrong I love my car to distraction. Everything about it. But, if my dream of retiring in a couple of years and buying a place in Cyprus are to come true then I need to reduce my outgoings and use the money to put towards my dream.

Whats the market like out there at present? Terrible I would imagine? Just tentatively testing to see what people think?

 

[LOTUSMAN33]

Just took a hit on my Evora Tony and it was absolutely immaculate, I was ok with it as knew I would gain the other way. It was a tough decision and I priced mine at the bottom of the market, I attracted loads of complete idiots mind offering me stupid money with most being traders telling me of the impeding financial crisis and how high end cars will be hit hardest. My view is we own enthusiasts cars so if someone wants one you should get a reasonable price, better now before the treasury start recovery plans. 🙂

Dave  

[Bibs]

1 hour ago, Kimbers said:

I have done exactly 800 miles in 2 years

You should be ashamed of yourself. 

[mayevora]

I’m kind of in a similar situation. Not earning anything and can’t see that changing until back end of the summer and 40k sat in the garage. 
but I am kind of treating that situation as a last resort. It’s our Silver Wedding in a month and we did have a big blow out holiday planned but as that’s not happening those holidays funds/costs are being lived on at this moment in time.

[TdM]

From someone looking at the moment (I want to go through a garage as I want the convenience of part ex), I would say that if you want a quick sale it's going to be tough and you will take a hit.

On the other hand if you are willing to sit it out, then I think that buyers are looking for quality as a primary driver in this sector. Of course price matters but I don't think most enthusiasts are going to take the p***. You'll get the idiots out in force giving silly offers and you may need to wait a bit longer for your genuine buyer but I'm sure they are still out there and willing to pay for a quality example.

Edited May 28, 2020 by Bibs

[Nelly]

Evora prices held firm for ages but prices have certainly dropped a bit on early cars now - quit dismayed to see a few in mid £20k's recently.

I may have seen the previous owner mention in the market thread how much he misses his old NA, and with prices low he may be tempted to get another.  Is it worth mentioning to him (although it won;t be long before he sees this I am sure!). 

 

[LeglessAlex]

800 miles in two years! Damn, that's a shame. 

I don't know what the thinking in the community is about this, but it's possible that Evora values will take a further hit when the replacement is released. Possibly worth selling now, and then if in a couple of years you really, really miss it you can buy another for much less money?

That said, it could end up like the 997 GT3 or the 458, where values of the older car actually get a bit stronger. 

 

Edited May 28, 2020 by LeglessAlex

[Bravo73]

1 hour ago, LeglessAlex said:

...when the replacement is released.

Replacement?

🤣

[TdM]

The 'final petrol' Lotus could impact prices, I've thought the same. It could be a good car to own in the future if you want a classic.

As I've said before, cars are terrible investments anyway. Buy what you want and don't worry too much about it. How low would these realistically go anyway? Mid engined, rare niche car no true direct rival, fairly unique oddity (mid engine 4 seat Lotus). Always going to be desirable. Money still safer here than any new car and a large majority of used.

You want 30k safe(ish) money in a car? Buy a 911 or an Aston Vantage, even the Aston has been softening lately!

[Bibs]

The Evora has barely gone beyond 50% depreciation in 10+ years, I'd say that's fairly safe money. I'd expect to put mine up for sale for what I paid for it 2.5 years ago and even if I lost a couple of K, that's ridiculously cheap thrills. 

[C8RKH]

7 hours ago, TdM said:

You want 30k safe(ish) money in a car? Buy a 911 or an Aston Vantage, even the Aston has been softening lately!

Not really compared to an Evora when you factor in likely service and repair costs 

[Barrykearley]

6 hours ago, Bibs said:

The Evora has barely gone beyond 50% depreciation in 10+ years, I'd say that's fairly safe money. I'd expect to put mine up for sale for what I paid for it 2.5 years ago and even if I lost a couple of K, that's ridiculously cheap thrills. 

Yeah but yours is an old B reg and mine a C reg - can’t compare them with new 😂

[Bruss]

A Lotus is not an investment. It never has been, it never will be. 

[C8RKH]

A lotus is like a hooker. You pay your money. You have fun, lots of fun. And a lot cheaper to maintain  than a wife long term investment.

 

[Barrykearley]

17 minutes ago, Bruss said:

A Lotus is not an investment. It never has been, it never will be. 

Couldn’t disagree more. All of my loti have been a serious investment in my happiness 

[Mark Blanchard]

20 minutes ago, Bruss said:

A Lotus is not an investment. It never has been, it never will be. 

I bought my Esprit for £6000 and sold it for £20,000.

[62dave]

9 hours ago, TdM said:

You want 30k safe(ish) money in a car? Buy a 911 or an Aston Vantage, even the Aston has been softening lately!

Friend of mine bought a generic 997 for high 20’s a couple of years ago. He sold it just before Covid crisis for 21k having had it advertised for 6 months with minimal interest. His money would have been much safer in an early Evora

[Bruss]

12 minutes ago, Mark Blanchard said:

I bought my Esprit for £6000 and sold it for £20,000.

Over how many years?

I've bought many a car that has kept it's value, even increase over what I've paid for them, but compared to inflation and with running costs they really haven't been an investment, just lucky buys. ( I've never owned a classic Ferrari or one of Stirlings' many Mercs though)

 

[Advantage]

An AM Vantage isn't exactly a cast iron place to put your cash either. Especially if you use it (but in Tony's case it sounds like mileage based depreciation is never going to be an issue - 800 miles, the shame of it) Mine is worth about 68p these days but I have done over 40k miles in it since I bought it, so I feel as though I have got my money's worth from it. 

 

[C8RKH]

9 minutes ago, Bruss said:

Over how many years?

I've bought many a car that has kept it's value, even increase over what I've paid for them, but compared to inflation and with running costs they really haven't been an investment, just lucky buys. ( I've never owned a classic Ferrari or one of Stirlings' many Mercs though)

 

And how much did you "invest in it" @Mark Blanchard to restore it etc?

[Bibs]

I'll be kind and give you a pound for it Pilko. Treat yourself with the change

[Kimbers]

5 hours ago, Bruss said:

Over how many years?

I've bought many a car that has kept it's value, even increase over what I've paid for them, but compared to inflation and with running costs they really haven't been an investment, just lucky buys. ( I've never owned a classic Ferrari or one of Stirlings' many Mercs though)

 

I must admit to making money on all my Lotus's. Esprit bought for £8k sold £12k, Exige £17k sold for £21k, Excel £4k sold for £6k all with minimal spend.

I don't expect to make anything on the Evora especially because I have had the whole front resprayed for £1000. Alloys refurbed for £250, 4 new tyres nearly £700, Full service £1000, New aircon complete system from Condenser to Compressor......won't even say how much that was!!

[Mark Blanchard]

7 hours ago, Bruss said:

Over how many years?

15 very happy years.