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Should I be worried about selling a high mileage car?


Intrepid

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Hi all,

Looking at buying my first Evora (thank you to all those who have helped or messaged me with details of cars they are thinking of selling; there's a few).

My budget means either a high mileage (60-80k) S or a lower mileage (30-50k) LE. 

I will probably put another 20k on before I come to sell in maybe three or four years.

Whilst I would rather own an S, and as a BUYER mileage doesn't concern me as I know these are bulletproof engines and it would be taken care of, I am concerned about resale... it'd be pushing, or maybe even over, 100k miles and I don't think we have seen many sell north of 100k so far. So what's, financially, the smart choice? Buy a LE that will still be under 75k when I sell? Or an S which may be more desirable now but could be pushing 100k when I sell? Also aware that the S would cost me around £500 per year extra in tax/fuel based on my use. 

I know people often say 'stop worrying about selling it, just get out and enjoy it', but I save a few £k per year toward a 'better' weekend car and it would be a shame for this to undo all that work and set me back a couple of years on my path to an eventual supercar 😀

 

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I have a very modest NA just tech pack so am I worried about selling 

No in the years of my ownership it’s brought me smiles and experience I have only dreamt about, so recently I have had a mad rush of blood and spent £1k nearly on a BOE kit and side scoops well I thought why wait get these and enjoy them life too short !

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Thanks guys. Sound advice. 

@jepwhy did you prefer the NA?

1 minute ago, Cdm2018 said:

I have a very modest NA just tech pack so am I worried about selling 

No in the years of my ownership it’s brought me smiles and experience I have only dreamt about, so recently I have had a mad rush of blood and spent £1k nearly on a BOE kit and side scoops well I thought why wait get these and enjoy them life too short !

I think the difference is I'm not going to keep it for years - I am progressing my way through a long list of cars I want to own and need to minimise the loss on each one.

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My two cents.. people who want an Evora get one for the experience of its magical drive, so obviously will add miles to it.

Would there be a buyer for a high miler that is well looked after in three to four years time.. probably yes.

Will there be monetary gains.. probably not as much. 

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there's an early red NA car with 70k on autotrader that seems to have been there for quite a few months so assuming its not sold yet.

There will always be somebody to buy a higher miler of any car but it will generally have to be a lot cheaper.  Evora is a niche car already with a small market, so the market for a high miler is even smaller.

the real question is how much might you lose (or in this market, gain) on either option compared to the other. 

construction and property consultants : My company

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I think the answer to this question is you need to drive them both and see which tickles your fancy and is right for *you*. I drove a GT410 Sport, a standard box NA, a couple of CR box NAs and then my S. 

These were my personal assessments, others would of course disagree!

GT410 Sport - f***ing incredible. But out of my budget.

NA standard box - sweet handling and very long legged which is nice on long drives but didn't have the oomph to feel exciting. My 235bhp supercharged Mini Cooper S has more urge (and probably the same/better power to weight) so wasn't enough of an upgrade. 

NA CR box - more like it. Felt like a sports car throughout and was very close to buying an LE that needed a bit of work.

S - All the right elements in the right places. Proper urge out of corners, and the grunt to justify the looks of a mid engined sports car. Handling felt a little tighter than the NAs, and closer to the GT410 Sport I loved. Personally preferred the look with the larger wheels and diffuser, and black pack is for me essential.

Which is why I bought the S! But had I come across the right NA I'd probably be pretty happy too. 

As for relative depreciation given mileage - I agree with Beady, this is the only question really. In another couple of years mileage across the board on all the Evora stock will tend to be higher. I don't think you'll lose more on a car that's gone from 60k-80k than one that's gone 40k to 60k.

Will there be a depreciation/appreciation difference going forwards between the models? Hard to say. Ss are thinner on the ground but NAs a bit cheaper to run. Probably won't be anything in it. 

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I can't comment on the S, but, having owned one and kept track of S1 NA prices for over five years, if depreciation is of concern to you,  as a rule of thumb, I would suggest that 10K miles equates to £1K depreciation.  If prices continue to head the way that they are at present, then this could become irrelevant to you.  With regards to buying, don't think only LE.  A later NA, with all three packs (sport, premium, tech) could be a better buy.  Sport pack is essential, 2+2 much more desirable, IPS are "rare" because few people ordered them originally. 

Good luck with your search, whichever you buy, but get in there soon!  You won't be disappointed. 

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Agree with all the points above

my only thought is the supercharger, how maintainable are they? 
 

there was a 100k LE for sale before I was able to commit about 18-24 months ago (I forget now). That was low end of the market but if kept up to standards I can’t see that same car having lost any value and probably gained £1-5k in value due to the niche and limited numbers. 
 

I think the red 2+0 NA c.80k at about £26-27k is the low end market, when a Cat D is advertised and sells near sticker price at £25k. 
 

using that as a proxy, spec, mileage, colour will add/ minus value. 
the next cheapest recently sold was the aqua green/ blue colour which again I believe similar mileage and price to the red one. 
 

I would consider spec and colour over mileage.

Edited by Celica
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56 minutes ago, Celica said:

the next cheapest recently sold was the aqua green/ blue colour which again I believe similar mileage and price to the red one. 

@Celica, I’m not sure if the cheap aqua one in Heywood that was on AT really existed… I tried to call several times and never reached anyone.  Or perhaps it sold quickly and they didn’t remove the ad… seemed odd!

good luck!

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Not sure if it was Heywood but it was on AT for a long time , on and off. 
somone has recently purchased it, think from memory it was sold with a deposit but buyer didn’t come back or something (or I could be talking out my backside lol) 

maybe the owner of that is on here 

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  • Gold FFM

The owner of the aquamarine blue Evora 2+0 referred to (the one with the hybrid black seats/oyster dash interior and reversing sensors retrofitted on the rear bumper) is a member of the Facebook Lotus Evora Owners group. I'm not sure if they are a member of this forum.

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Lover of everything Lotus Cars and proud owner of production Evora No.75 (2nd UK customer specced car by VIN). Originally from the Far East....of Anglia, I read black box data for a living so that could explain a lot!

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  • Gold FFM

A lot of the lower end of the market cars seem to get sold and then the adverts sit on PH or AT for some reason.

Anyway, I think that any higher mileage car will sell just fine if you are sensible with price but especially if you are known on here. I believe a lot of cars exchange hands 'off book' and a well maintained car that has been on/around forums through it's life is a MUCH safer purchase than just looking at miles and I think people will put a lot of value in that. I bought my car 'off book' through this forum and felt this was the best way of doing it. I know it's been cared for and that's what matters with cars.

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  • Gold FFM
On 23/02/2022 at 18:31, Intrepid said:

Thanks guys. Sound advice. 

@jepwhy did you prefer the NA?

I think the difference is I'm not going to keep it for years - I am progressing my way through a long list of cars I want to own and need to minimise the loss on each one.

Then go for the NA. It's the perfect choice for your goals.

Alcohol. Sex. Tobacco. Drugs. Chocolate.  Meh! NOTHING in this world is as addictive as an Evora +0. It's not for babies!    

The first guy to ride a bull for fun, was a true hero. The second man to follow him was truly nuts!   

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8 hours ago, TdM said:

A lot of the lower end of the market cars seem to get sold and then the adverts sit on PH or AT for some reason.

Anyway, I think that any higher mileage car will sell just fine if you are sensible with price but especially if you are known on here. I believe a lot of cars exchange hands 'off book' and a well maintained car that has been on/around forums through it's life is a MUCH safer purchase than just looking at miles and I think people will put a lot of value in that. I bought my car 'off book' through this forum and felt this was the best way of doing it. I know it's been cared for and that's what matters with cars.

Just make sure you keep on top of the maintenance! I want it to be fully match fit when you sell it back to me 😆

Joking aside, selling an Evora generally requires a little patience and a high mileage car even more so. You'll find a buyer but be prepared for it to take a while compared to a mainstream car.

Edited by Giveitfish
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On 25/02/2022 at 00:21, Markindevon said:

@Celica, I’m not sure if the cheap aqua one in Heywood that was on AT really existed… I tried to call several times and never reached anyone.  Or perhaps it sold quickly and they didn’t remove the ad… seemed odd!

good luck!

It was this one as it was around for sale when I was looking.

Blue Evora.png

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