Bye Bye SC

[Jeremy]

A 3yr old Exige S for £19k ? Someone has been inhaling deeply on the special tobacco.

Today that will just about pick you up a nice low mileage 2004 n/A car which must have retailed for what, high £20k's when new ?

I can see the V6 bottoming out around £35-£40k if you held onto it for a similar amount of time as the above. Small numbers and perennial demand can mean only one thing.

As for putting your money in a brand new Boxster that's a sure fire recipe to residual kamikaze. Rather than looking at what someone has written in a book look at history and this paints a far bleaker picture.

Regards,

Jeremy

[j2 lot]

A 3yr old Exige S for £19k ? Someone has been inhaling deeply on the special tobacco.

Today that will just about pick you up a nice low mileage 2004 n/A car which must have retailed for what, high £20k's when new ?

I can see the V6 bottoming out around £35-£40k

[Andy G]

They where mid £30's when new - actually ironically enough I think they were worth about as much after year 3 as they are now! Bizarre!

Remember letting my 2004 111R go for about £17.5k and that was in 2007.

[H8OAG]

You might not agree with the residual figures , but they are the de facto projections which the finance boys work to !

[robin]

Regardless of actual vs projected depreciation, you still expect to lose your shirt in the first year or two .... that's the nature of the beast.

Cheers,
Robin

[campbell]

Benny I can see the grin from here.

Bravo, matey, enjoy. Great time of year to pick up one of them eh Got a set of winters on it?!

[mwmackenzie]

http://www.pistonheads.com/classifieds/ ... te/1910169

That one Andy??

[Andy G]

http://www.pistonheads.com/classifieds/ ... te/1910169

That one Andy??

Yup - a great wee car at the time

Got me in to an entirely new world of fun and met a tonne a lunatics along the way

[mwmackenzie]

http://www.pistonheads.com/classifieds/ ... te/1910169

That one Andy??

Yup - a great wee car at the time

Got me in to an entirely new world of fun and met a tonne a lunatics along the way

I know what it sold for 2 years ago... Someone is quids in lol! I had my hands on her for a couple of months and loved every second in her, if I had the cash at the time I'd have bought her! Great wee car, I love the 111r after that stint, now my elise of choice bar a sport 160 with standard ecu

[Andy G]

Bennys old SC now has pride of place in the showroom

[Sanjøy]

I hope they took the last CD out.

[douglasgdmw]

Difference being that we all know book values on Lotus are miles out.

Taking PH adverts, cheapest up to 3 year old Boxster S is 23500 which is in line with the 54% and cheapest Exige is 29000 private sale. Even 2005/6 exiges are worth more than 36% of list and are and twice the age.

If a 3 year old Exige S is only worth 36% of its value new I will manger son chapeau.

Edit: residual figure negativity has no place in a thread of man maths heroics, sorry Benny

I reckon the low residual figure from the underwriters is them taking an optimistioc approach for a relatively low volume manufacturer. They have to cover their backs in case the car is handed back to them after the PCP period. Also the uncertainty that has happened with Lotus in the last few years has probably made them cautious rather than reflecting the actual residuals that you see on Pistonheads.

The Boag figures probably reflect "real" mileage so where a normal Porsche will easy cover 12k p/a and the buying market will not wince, try doing that in a Lotus and suddenly your car is a lot less desirable on the open market.

It also goes to show that niche cars keeps their residuals. If you look at the Porsche Boxster Spyder which has bucked the trend of the normal Boxsters in their residuals and look like they will be the same as Lotus where they plateau to a period when they will not depreciate (pleasantly surprised to see a 2010 for sale at £37.5K), 70-75% residuals is pretty damn good in a car after 3 years.

George

[mrbennybennett]

Bennys old SC now has pride of place in the showroom

Looking sweet!

http://www.murraylotus.co.uk/pre-owned- ... 8-%2708%27

[GraemeLotus]

Difference being that we all know book values on Lotus are miles out.

Taking PH adverts, cheapest up to 3 year old Boxster S is 23500 which is in line with the 54% and cheapest Exige is 29000 private sale. Even 2005/6 exiges are worth more than 36% of list and are and twice the age.

If a 3 year old Exige S is only worth 36% of its value new I will manger son chapeau.

Edit: residual figure negativity has no place in a thread of man maths heroics, sorry Benny

I reckon the low residual figure from the underwriters is them taking an optimistioc approach for a relatively low volume manufacturer. They have to cover their backs in case the car is handed back to them after the PCP period. Also the uncertainty that has happened with Lotus in the last few years has probably made them cautious rather than reflecting the actual residuals that you see on Pistonheads.

The Boag figures probably reflect "real" mileage so where a normal Porsche will easy cover 12k p/a and the buying market will not wince, try doing that in a Lotus and suddenly your car is a lot less desirable on the open market.

It also goes to show that niche cars keeps their residuals. If you look at the Porsche Boxster Spyder which has bucked the trend of the normal Boxsters in their residuals and look like they will be the same as Lotus where they plateau to a period when they will not depreciate (pleasantly surprised to see a 2010 for sale at £37.5K), 70-75% residuals is pretty damn good in a car after 3 years.

George

And indeed we've won the award for the best residuals in the UK this year; as you can imagine, this is something that makes conversations with underwriters more straightforward when proposing deals like 50% offset with no monthly contributions or interest......

[GraemeLotus]

PS - Benny - end of an era but a worthy replacement....!