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Depreciation


DrBru

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Im soon to hopefully buy a 410 or 430 cup.. will only consider purchasing on the second hand market so wondering what are peoples thoughts and experiences around depreciation as I tend to hold my cars for quite a long time...

 

Ive heard the exiles actually depreciate very little and they may even start appreciating at some point in the future??

 

Thanks 

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Heard stories of people holding onto v6s/350's and selling for the same they bought for or a couple of grand loss after a year plus of use.

Reckon I could sell my roadster for a profit over what I paid 18 months ago

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Lotus have often been referred to as the UK's slowest depreciating cars. 

https://www.autocar.co.uk/car-news/new-cars/lotus-elise-uks-slowest-depreciating-performance-car

 

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

Evora NA

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  • Gold FFM

As a basic rule of thumb but a generalisation, the modern Lotus tends to have very glacial depreciation after year 5 or 6. And almost stop depreciating between years 8 to 10.  Many factors vary this, the most obvious is use and mileage. For example, if I had not used my 2010 Evora much since purchase in 2018, it would probably be worth what I paid for it, if not a tad more. 18,000 miles have been added, so it is worth less than I paid as it is getting in to 'leggy' territory (for an Evora).

2021 has been a different year for second-hand Lotus. Demand in the past 3 months has increased and so have prices. As always, the differential between exceptional and average is widening.

If you plan to use your Exige a lot, it may be worth buying one with decent mileage already covered - the entry price will be lower and you will not be hitting the value so much by piling on the miles. Hence why I bought a 50,000 mile Evora, not a 15,000 miler.

Limited editions of note is another way to ensure low depreciation/potential appreciation but the 'in' may be more. Evora SR are already getting a following, as are Launch Edition. Low or defined productions numbers helps (Exige LF1 for example).

Justin

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Moving forward I don’t think it’s unrealistic to expect to see little to no depreciation (unless you do galactic miles or neglect your new toy! Both unlikely!) - you might in fact just be buying at the time prices will start to appreciate. And that’s not me dreaming, you only need to look at how quickly the dealers are selling stock right now after announcing it was stopping the production of the current range. 
If I were you I’d get one bought now because once there’s next to no stock to choose from (and it will happen!).....it’s then a sellers market!

Best of luck with the decison making - you’ve picked a fantastic time to be part of Lotus👍😎

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I must admit that part of decision making process for getting my 410 recently was that it shouldn’t hopefully lose much money in the next few years. (Although you can never really be sure)

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thanks everyone...

 

To be honest im really struggling with the car choice but ive narrowed it down to the following and depreciation is a big part of the decision

 

1) Nearly new RS6 - best all round car in my opinion but will take the biggest hit depreciation wise

2) 5-6 year old Porsche 911 turbo s - biggest selling point is the fact that it has 4 seats but it will be relatively old compared to my other choices and the budget I have - even at this age, I still think it will depreciate quite a bit

3) Exige 410/430 + something like a golf r estate - this is what I am leaning towards at the moment all things considered but I have to also think about the fact that my garage will be too small so the cars will have to live on the drive (hopefully this is not an issue for the lotus though)

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  • Gold FFM

Interesting. Always fascinating to see the logic behind car choices. I could never own an Audi - terrible steering. 911 leave me unsatisfied and are too heavy - add electric steering to make it 'no thanks'. 

Exige is so far removed from your other options. I would have thought Alpine might appear. 

If lack of depreciation really is a major factor - Exige would be wise choice plus a Focus ST estate or hatch. Or RS. Golf R I know zip about.

Good luck and have fun deciding.

Justin 

 

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Over here in Australia Exige prices are going ballistic, partly due to Mighty Car Mods. I dont think older Exiges will be ever going down in price.

If you're looking for a 4 seater with cramped rear seats (911), why not consider the Evora? You get the famed Lotus handling and squishy back seats as well! Win, win! 

 

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On 06/04/2021 at 21:39, DrBru said:

thanks everyone...

 

To be honest im really struggling with the car choice but ive narrowed it down to the following and depreciation is a big part of the decision

 

1) Nearly new RS6 - best all round car in my opinion but will take the biggest hit depreciation wise

2) 5-6 year old Porsche 911 turbo s - biggest selling point is the fact that it has 4 seats but it will be relatively old compared to my other choices and the budget I have - even at this age, I still think it will depreciate quite a bit

3) Exige 410/430 + something like a golf r estate - this is what I am leaning towards at the moment all things considered but I have to also think about the fact that my garage will be too small so the cars will have to live on the drive (hopefully this is not an issue for the lotus though)

I think your third option is really sensible. The Exige is epic and you’ll love it all the more if paired with a practical daily. I’m a fan of the RS6 but neither it nor the 911 could match the Exige/Golf mix of practicality and thrills. 

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I'm also of an opinion that Elise/Exiges will depreciate very slowly, especially later ones (20th, finals).
I don't know how comfy are the rear seats in Evora/911, but if they are anything close to rear seats in my GT86 it wouldn't even consider taking that as a plus for 911. They are horribly useless, used only when no other option is possible for a short distance drive. It's nice that you can carry all the tires to the shop thou :)

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9 minutes ago, Andy Norman said:

My 430CUP will be up for sale in 1-2 weeks. I’ve put the feelers out on FB if you want to see what it looks like. It’s my 3rd lotus since 2006 and a cracker. 

Yep saw that and sent you a message. Def interested if I can work my house purchase work alongside!

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1 hour ago, Andy Norman said:

My 430CUP will be up for sale in 1-2 weeks. I’ve put the feelers out on FB if you want to see what it looks like. It’s my 3rd lotus since 2006 and a cracker. 

That’s a shame Andy......moving away from Lotus?

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43 minutes ago, stephenwhyte said:

That’s a shame Andy......moving away from Lotus?

Yeah. Fancy a change and I’ve never kept one over 3 years, which is approaching in September. I’ve got a 600LT or 765LT itch I want to scratch. 

My lower back is also complaining when I get out which isn’t good for the day job so needs must. It’s been a blast for 11k miles. 
 

 

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  • Gold FFM

McLaren - get a full McLaren warranty and a car with full McLaren service history so you can continue the warranty subsequently. 2 year should be easy to negotiate in the price, if not longer. 

McLaren another level of brilliance - like Lotus only better in all regards except price and running costs. Worth the extra - only you can decide. Probably not. 

Justin 

 

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10 hours ago, Andy Norman said:

My 430CUP will be up for sale in 1-2 weeks. I’ve put the feelers out on FB if you want to see what it looks like. It’s my 3rd lotus since 2006 and a cracker. 

Shame to hear it’s going Andy. But impressed with your choice of replacement, whichever LT you end up with!

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  • 2 months later...
On 12/04/2021 at 22:56, Andy Norman said:

Yeah. Fancy a change and I’ve never kept one over 3 years, which is approaching in September. I’ve got a 600LT or 765LT itch I want to scratch. 

My lower back is also complaining when I get out which isn’t good for the day job so needs must. It’s been a blast for 11k miles. 
 

 

I have a 720S. 


I am now looking to buy another 410 so I could push hard on track. I would recommend you to keep both if you can, because one of my biggest regret was selling my early motorsport made V6 cup. 
 

looking to buy a 410,  but worry Emira will make it depreciate more.

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IMO Lotus cars appear to drop 20% quite quickly before levelling off. Thereafter they appear to depreciate very slowly indeed. 
 

I plan to keep my Exige a very long time so in one way I have lost 100% of the cost as I will never see any of the money  again if I don’t sell it.  Alternatively I have lost 0% of the cost as I still have the car I bought with the money and it still thrills with every drive. 

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The 20% depreciation in the first couple of years appears to be correct followed by glacial depreciation after that.

If you can buy a 2 year old car with cash then I doubt you would lose much more than a couple of k over 2 years ownership.

I think one of slight issues about a year ago was that 2 year old cars were up for 65k and once you factor into finance costs then you were pushing 73k+. A brand new car could be had for around 80k on the 0% Apr finance deal, in for a penny, in for a pound.

It will be interesting to see just how well the final and 20th editions do at two years old now that you won't be able to get a new one.

I don't see the emira as a threat to exige or Elise prices. I don't think there will be anything like those cars made again unless caterham take over production.

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