GT410 Sport help needed

[JonB1977]

Hi all, this is my first post and I need some advice.

I'm an ex owner of GT410 Sport that I bought from Central Lotus in Jan’21. I sold it after 6 months due to putting a deposit down on an Emira and worried about the value dropping.

Anyhow, fast forward 18 months and (a) I decided the Emira wasn’t for me, and (b) I miss the Evora.

so, I’m back in the market for a GT410 Evora. Do I wait, as with Emira’s starting to be delivered, prices will come down a bit? Or just go for one of the 2 dark grey ones that Caffyns and JCT 600 have up for sale? Both have been up for sale for a while and are around the £68k mark, but don’t seem to be willing to do a deal at less than they’re advertised for.

Any thoughts or help would be greatly appreciated 

thanks 

Jon 

[jep]

They ain't making any more Evora and it is already a rare and unique car. 

I wouldn't wait.

Justin

 

[Cdm2018]

I would wait and test drive an Emira before you jump back to Evora 

I think the speculation on values is too consuming it’s about how you feel the car drives and live with etc 

[Yan]

Reports I have heard is that Evora has better driver engagement, Emira is more civilised. Depends on your priorities.

If prices here in Oz reflect elsewhere, we are only seeing Evora prices going up, though with a potential worldwide recession looming, who knows where values are heading.

[hamza]

I’m not sure the prices will drop. Normally I would have expected them too, not so much because of the Emira but because of the nose dove the economy seems to be heading into. 
 

having recently been shopping for a Lotus too though, the attitude from the dealers is one of “there’s no point in dropping the price as we would normally do that to clear cars to be able to get new ones in. Right now we can’t get any new stock so it makes no sense to sell what we have at a reduced price only to be left with nothing to be able to sell any more”

I can see where they’re coming from too. So long as they are able to (financially) maintain that attitude the prices just won’t come down. 

[PaulGT]

With the huge wait times currently on the Emira it will be years before the market demand is satisfied. Any used Emiras will be offered with massive mark ups.
I’m my option this will pull the values of evoras up further. I think now is the time to buy whist some are still of the option the the Evora will de value because of the Emira. 
Also, I believe inflation will push the retail price of the Emira up quickly, this again helping the Evoras case. 

[AK70]

Thank god Lotus is not (yet) a mass product. Exotic sports cars will always have a value. Buy now if you can 😉

Side mark: The biggest competitor of Lego bricks was the Playstation, not another plastic toy..
Or remember Nokia?... What I want to say is, that buying now an ICE car other than an exotic sports car or a classic car is really burning your money.. When I have picked up my Tesla 3 (calm down it is for my wife...) they delivered 90 cars per day only at that station.... 90! Buy a VW Golf etc. now will be worthless in 2-4 years.. 😉   Pretty sure any Lotus will hold its value quite well!

 

[C8RKH]

Good post @AK70 apart from the last bit. Tesla build quality is crap ( not me saying that but JD Power, Which? Etc). The 2nd hand market for PHEV and EV is currently unproven mainly due to volume and battery anxiety.

Already you have 4/5 year old PHEV Panamera's (a £90k car!) That practically worthless as you cannot get replacement battery cells, so as they fail you end up needing a whole new battery pack at an horrendous replacement cost that essentially makes the car worthless.

People will buy new ICE for several years to come and those cars will still be in the 2nd hand market in 2040 in my very humble opinion.

[TdM]

I think it depends on the part of the market to be fair as AK70 says, I also think that a lot of people will move to new cars with EV who didn't buy new before.

For example, for my wife's car, when we come to change it at some point, we may consider an EV because largely, she drives to work and back where there will be chargers. She can get the car on a salary sacrifice so it's not that expensive and we can just ditch it after 3 years instead of having to worry about used prices. Would I buy a used EV? Probably not!

At the bottom end of the market, it's likely that ICE will stay around a long while because it's cheap to buy. Second hand ICE cars are a known entity, don't cost too much (even at the moment!) and aren't going to drop a 10k+ bill (unless you have a silly car)

In the sports car market, I think there's going to be a market for rare noisy cars forever. They will get rarer and they will get more expensive. They are practically into classic status in the next 5-10 years as they just won't be available to buy any more and no matter how good EVs are, face melting acceleration isn't enough to compensate for noise, vibration and visceral feel... Have a guess which cars are good at that sort of stuff? Look how rare the Evora is already!

[Colin P]

10 minutes ago, TdM said:

She can get the car on a salary sacrifice so it's not that expensive and we can just ditch it after 3 years instead of having to worry about used prices. Would I buy a used EV? Probably not!

This is my thinking, the big concern over the batteries drives you toward effectively renting the car at a known cost. Anything else is concerning. Not really an option to think about buying new and running a car into the ground over 10 years or so....

I'd get one on lease and write the cost off over 3 years, I wouldn't buy one and I definitely wouldn't buy one second hand. I have the option via salary sacrifice scheme otherwise I'd not even think about it.

Edit, sorry supporting thread drift.

Back on Topic, the demand still seems strong on the Evora and with no replacement stock I think you just have to make your choice and go with it.

Edited July 19, 2022 by Colin P