Exige Residuals

The Oily Bits S1 Specific Topics
1

Are used Exige prices bottoming out and can we expect them to begin to slowly climb again?Would be interested in everyone’s comments

2

It appears they’re quite badly affected by the time of year. I understand they’ve been climbing back up in the last few weeks. It’s trackday time of year and there’s little better than an Exige and at the prices in Jan - phew!Ian [image]http://www.exiges.com/ubb/NonCGI/images/icons/smile.gif[/image]

3

Shame all Exige owners can’t get together, and un-naturally raise the residual price.:wink:-GMan

4

Depreciation is almost non existant. Dealers are retailing nice low mileage used cars now at the same price as in 2001, 25-26,000.A scan through our records :Sept 2000 27,000Sept 2001 26,460Nov 2001 24,338Dec 2001 24,850Oct 2002 25,580Dec 2002 25,850Alas no more !!I certainly wouldn’t worry about residuals, even private sales are fetching around 24,000.

5

Last year Classic and Sports Car rated the Exige one of the most likely modern day cars to become a classic in due course. I guess owners would already argue that it has reached that status!Surely the most crucial aspect to medium term residuals is whether Lotus attempts an S2 derivative Exige or even an S3 version.Even then the car has to be as desirable as the one we already know and love - and that will be going some!!!There’s just something so uniquely right about the whole car and I think this is gradually dawning on people - partially explaining the recent general price hike?Let’s face it there simply isn’t another car South of �40-�50K + that has this much road presence combined with stonking performance - except the 340R maybe?I would even go as far as to suggest that more people are interested in the Exige now than when it first came out and stuck to the showroom floor like a limpet.What the New Exige/dealer experience in 2000/2001 probably proved was the credibility problem Lotus has in penetrating Boxster/TVR price territory. Now the Exige is more sensibly priced then that argument has evaporated.[This message has been edited by Hethel Merman (edited 25 March 2003).]

6

Agree with Hethel Merman Lotus did seem to have a problem shifting them when they came out. Bought mine in March 2001 after I’d seen one in for service at Pit-Lane Garage (alas no more). Was quite surprised that I could still get hold of a new one. I’d read reviews in the mags and seen the photos about 18 months earlier but it wasn’t until I saw in the flesh that I knew I had to have one. Okay - you can buy more basic and faster cars - like a Caterham / or more track orientated cars like a Radical - but for me the Exige has got just the right blend of performance and presence and looks.Even if Lotus bring out an S2 Exige or an S3 Exige - I can’t see it being as raw as ours. What with Mil lights and ever increasing safety, emissions and noise legislation etc etc. It will probably be quicker - and possibly more reliable and perhaps even the air-con pipes won’t break every six months… [image]http://www.exiges.com/ubb/NonCGI/images/icons/frown.gif[/image]So I’m hopeful that the Exige will become a classic - if it isn’t already. After a standard Elise 111 and then a 111s which I each kept for a couple of years - I would really like to keep the Exige for a very long time.If you look at the E-type for example - it’s the Mark 1 that’s the more desirable. The same could be said for a lot of models - Mk1 RS2000; Cortina 1.3LX; Help - Running out of examples now [image]http://www.exiges.com/ubb/NonCGI/images/icons/smile.gif[/image]Plus they are rare - there must be what - about 400 still in the UK?Tiimbo

7

… A H Sprite/Midget [image]http://www.exiges.com/ubb/NonCGI/images/icons/wink.gif[/image]

8

quote:Originally posted by Hethel Merman:What the New Exige/dealer experience in 2000/2001 probably proved was the credibility problem Lotus has in penetrating Boxster/TVR price territory. Now the Exige is more sensibly priced then that argument has evaporated.Hethel,Boxster/TVR territory? is that bad? You make it seem like those belonged to a superior league, and I would say that the Exige is much better!Would never change it for one of those…Uldis[This message has been edited by Uldis (edited 26 March 2003).]

9

Having sold my Boxster S for the Exige, these cars are in totally different leagues, and really are not aimed at the same market, and if Lotus thought they would be, then they are bigger muppets than I first thought.The Boxster was totally effortless driving, could bang down a motorway at 140+ all day long without a stutter, was incredibly comfy, build quality was outstanding, and they are very quick and fun to drive. The quality of the hood is also very good, and with it up, you wouldn’t really know you were in a covertible.Exige is a totally stripped out car, designed for quick blasts where ever you go and is very uncomprmised. If I had a choice, I would get both! Boxster for long distance, Exige for weekend smiles [image]http://www.exiges.com/ubb/NonCGI/images/icons/smile.gif[/image]Boxster is better at delivering in certain areas, and I would challenge anyone to say otherwise, and vice versa for the Exige.Have to admit, many people don’t rate Boxster, I was one too, but after a drive, it really is a great machine that is incredibly capable. As for TVR’s, always wanted one…until I sat in one and thought the the thing was very badly bolted together, the finish was worse than the Exige, and leagues behind our german friends.PS. Aircon on the Boxster is best I have used, even with the hood down!

10

Aircon with the hood down!Were you trying to cool the universe down?

11

quote:Originally posted by Uldis: Boxster/TVR territory? is that bad?Uldis.]The point I was trying to stress here was more to do with the price point rather than any qualitative judgement.It seems to me that in 2000-2001, for new cars up to around �40, you either went for the rawness of the Lotus Exige/340R experience or the more cossetted approach of more plushly built sports cars like Boxsters. TVR’s, in spite of the at times dodgy build, also fit into this latter category.The problem for Lotus is a long term marketing issue. To make significant headway into the Porsche/TVR market, it seems to me that they will have to revisit something like the aborted M250 project. Or, as someone has suggested in this thread, produce a MIL light-friendly Exige.I, for one, will stick to the raw experience. Until I’m ready for me pipe and slippers, I guess!

12

I’m still not sure that there’s a big enough market to make an S2 Exige good business for Lotus.The S1 Exige could just be unique.Ian [image]http://www.exiges.com/ubb/NonCGI/images/icons/smile.gif[/image]

13

I have to agree with Ian on this.Lotus nearly had their fingers burnt with the Exige,so i don’t think that they will be to in to much of a hurry to go down the same path.I think that we can say,that there will be only one Exige. [image]http://www.exiges.com/ubb/NonCGI/images/icons/wink.gif[/image]

14

quote:Originally posted by IDG:I’m still not sure that there’s a big enough market to make an S2 Exige good business for Lotus.The S1 Exige could just be unique.Ian [image]http://www.exiges.com/ubb/NonCGI/images/icons/smile.gif[/image]Since when do Lotus concern themselves with such trivial matters as ‘good business’?

15

At the moment Lotus is only selling one basic car - the Elise - in a limited range of variants. OK a new Elise is expected before too much longer but surely this is insufficient new product to build its business and we can expect announcements some time quite soon?Another Exige will not do the job. Lotus has to find a way into the �35-�40K mainstream sports car market.

16

quote:Originally posted by Senna 1: I think that we can say,that there will be only one Exige. [image]http://www.exiges.com/ubb/NonCGI/images/icons/wink.gif[/image]Never say never Senna 1The Exige brand is already established as a race car for the road version of the Elise. It therefore stands to reason that Lotus could resurrect the name at some stage as a way of adding value to the Elise range.I reckon it’s more likely than not to happen. Whether it will have the same impact as the first Exige car is another matter altogether.

17

quote:Originally posted by Hethel Merman:The Exige brand is already established as a race car for the road version of the Elise. It therefore stands to reason that Lotus could resurrect the name at some stage…Now that’s true. Although I think it would be a very different track oriented car, in the �40+k bracket.After all they reused the Elan name (for a front drive car, I ask you!) and there are only so many good names you can come up with that begin with E.Still, I don’t see it coming soon. I think their focus will be Elise volume from the States.Ian [image]http://www.exiges.com/ubb/NonCGI/images/icons/smile.gif[/image]

18

Not with you on that one. For Exige Mk2 read Elise 190 Sport! They are hardly flying out of the factory. I think market forces will prevail. Why spend money on a Mk2 when you can sell the 190 sport instead. They did not shift too many Exiges and had to register a lot in their own names at first!