£62k 400

[PaulCP]

2000 miles

In the right colour too?

http://www.pistonheads.com/classifieds/used-cars/lotus/evora/lotus-evora-evora-400/5468446?v=b

[Barrykearley]

That's nice

[CocoPops]

Indeed.

been watching it, it's been for sale since before Christmas, slowly reducing.

[worldwidewebs]

It's the car they had on display in the Barton Arcade in Manchester for a while. Aside from a few minor scratches where Joe Public has left his mark (including a slight graze on the bonnet) it's nice. Really can't understand why the dealer hasn't sorted these things out though

To be honest, that orange does make the car look a bit plasticky - there are much better colour choices out there IMO

[CocoPops]

Shame, so it needs some tarting?

the pics are still the same from day one, would like to see some current.

[auRouge]

 The UK used car market is soooo good! 

[worldwidewebs]

9 hours ago, CocoPops said:

Shame, so it needs some tarting?

the pics are still the same from day one, would like to see some current.

Probably no more than an hour. As I said, very minor things so I'm very disappointed that they've not bothered. 

When I bought my Elise from them a few years back the prep was pretty crap (and when I mentioned it to them there was little more than a shrug of the shoulders) so I can only assume it's not something they think is important 

[Colin G]

Seems odd that people would be bypassing it and buying new instead if all that's wrong with it is a couple of easily repaired scuffs? If there had been a 2000 mile car at £62k out there when I bought mine in December, I wouldn't have thought twice about buying it, that's an absolute bargain in my opinion and someone should snap it up.  

[Evo400]

I have noticed how JCT600 seem to be leading the way with prices.  All equivalent cars at other dealers especially non Lotus dealers seem to be £3k-£5k more expensive for the same spec.

Look at the NA SRs for example.  £42K at JCT400 (5k miles) but £45k at David Hayton (£11k miles).  Are David Hayton official Lotus Dealers?  If not, shouldn't it be £40k at David Hayton?

Lets not even mention the yellow fake SR at West Sussex Specialist cars that was originally on sale for £47K but now reduced to £40k.  This car still needs another £6k off to even be in the running for buyers I would have thought.

 

 

Edited April 25, 2016 by Evo400

[quantum2000]

Complete new sales staff at JCT600 and excess stock to shift

[JayEmm]

The orange car at JCT has a few marks, including one bad one on the passenger side dash. It's generally good though considering it has been a demonstrator. It certainly drives well. Like most evoras it looks much better in the flash than pictures.

The car is now on about 3,000 miles. As far as I know the car is priced low as they've just ordered some new stock and they are clearing the old stock. Lotus have helped them get the price down to shift this one. I think this is a very unusual price and not indicative of a general trend. The 50/50 finance deals are making new cars very tempting I think - if you were to finance this on a traditional finance scheme I guess the price may not be so favourable.

[fesuvious]

HHmmm

It is starting to get difficult for the likes of me though. I have a '410' on order at @£88-89k.

When I ordered it this orange one, the white one and a grey one were all early seventies. Since I ordered the 410 these cars have dropped @£10k. 

I desperately want the 410. In 'my' colour, 'my' spec, and of course it'd be just for me. I can't deny though that I'm starting to look at a near £30k saving and think 'could wrap it and change the seats for £8000..........Still saving nearly £20k.....

The faster the 400's drop, the less 'value' the 410 looks like at the cost.....

Not easy.

[JayEmm]

@fesuvious - I was in the same position as you. I would love to have had a car in my "exact" spec but I managed to find one which was almost perfect and realised I would have been spending about £10k on a car that was almost identical.

The £62k car I am reasonably sure is an anomoly - I doubt even JCT will be repeating that in future (I asked them). Another way to look at it is that car is probably one of the oldest 400s out there - it was registered in September I think.

[fesuvious]

Yes. However, the white one is at 67 and dropping. How long before sub 65?

Ditto grey one.

Can't deny I am worried. I have actively and deliberately decided to support lotus, and I want an evora.

However I could chuck the 400' seats, wrap the car and upgrade it for 20k. This takes it to smack on 410 money if the base car is @67.5.... . They're dropping though, quite quick.

My order stays in for now but buyers are going to be put off if these values keep falling both for new and used.

Not good. 

 

(still ecstatic about getting one!!!!!!)

[CocoPops]

Interestingly, the "new" base price seems to have gone up from £72k to £72,950.

even as a 2nd hand buyer I'm concerned about the way they are falling. I will commit, but when is a different question.

currently my NA isn't falling (maybe £2k) in last 12m? Where as a 400 will have lost £10k in 6months? So when the sweet spot for switching occurs, still not sure.

[Barrykearley]

Lee - I reckon yours is at the sweet spot now. These cars are going to bottom out at £22k ish at least - and more for looked after better examples. Just my opinion - the new cars like any new car will drop like a stone and depreciate. Yes some porkers go up - mainly due to demand and shortsighted sheep buyers.

its a bit like gambling - spend what you can afford to loose. But with a lotus - at least you smile in the process

[Bibs]

6 minutes ago, Barrykearley said:

These cars are going to bottom out at £22k ish at least

The price has barely moved in 5 years, that's wildly inaccurate going by that trend.

[Barrykearley]

Fair point - that was based on the cheapest I've seen one sell at £25k - I'd say they are the most stable priced modern sports car money can buy 

[Colin G]

I've said it before, but headline news......

Brand new car depreciates by larger amount than five year old used car in last 12 months shocker!

[Barrykearley]

[CocoPops]

6 minutes ago, Colin G said:

I've said it before, but headline news......

Brand new car depreciates by larger amount than five year old used car in last 12 months shocker!

Yes, I realise that... But when will it plateau (at least, less haemorrhaging).

whilst the orange may be the lowest example, it's still down from £79,950 to £62,490 in 6months. Will it now settle at £62 for a while or continue at same rate?

[Barrykearley]

I'd guess in five years time it will be less than £60k

im hoping £25k at most !!

[fesuvious]

Indeed. This isn't about 'new car drops loads in 12 months'.

That's a given.

These 400's are dropping, dropping, failing to sell and dropping further - fast!

It's one thing to accept one level of depreciation. But something different when the market is crushing Evora 400 values by @£1000 per month based on these cars...it warrants concern.

'new car depreciation' is one thing. This is a little more severe.

It makes no sense either.

[Barrykearley]

This is market forces surely.

demand is there - but they are making more than they are selling - and lotus appear to be upping supply, so essentially supply will exceed demand soon. Couple that with 50:50 financing and you crucify the used resale options in the period of the 50:50 term. These deals look attractive and indeed are if you wish to buy new - but they always have an impact on nearly new cars. That's why you have such a marketing hype about approved used on other brands forecourts - where they are trying to add value to the used car...

£1000 loss per month on a high end car over the first year - I'm afraid that's pretty much expected - have a look at big mercs, BMW, Audi, rolls etc etc. Most residuals are based on a 3 year term are they not ?? That's the better measure as in reality the big hit is in the first year.

[JayEmm]

Barry is right - I think it is the finance affecting it. I don't know what the finance is on JCTs used cars but it won't be anywhere near as good as the 50/50 deal I am sure - which means the "real" price for a lot of people will be higher. 

Some of us might not be too happy about the kamikaze price (myself included!) but it's still less discount than BMW are doing on a brand new M4!

I wonder what will happen to prices/demand/lead time when the USA models begin shipping