Some of you will know that I recently put my car up for sale, then withdrew it after a change of heart (we’ll call her Helen, cos that’s her name ).
Now I advertised my S1 Exige on 3 Lotus forums and on PH. I got quite a drubbing on one forum (can you guess which?!), saying it was priced too high for its miles (£39.5k and 40k miles). The car needs nothing but has a few stonechips, and the odd mark here and there, but it is 17 years old.
My question is this: Is it better to buy a car that’s been enjoyed and day to day reliable or one that has super low miles and the associated problems that can be brought on through lack of use?
I don’t think I’d have any issues buying a car that’s been to the moon and back as long as it didn’t feel like it had.
In reality, no, mileage is not an issue, its condition, in practise, buyers like low mileage, not just lotus. My 10 year old s2 has 42k miles, only fit for the scrap yard.
Given the choice of low mileage and modest mileage, people take the former, and there is no shortage of silly low miles Lotus cars out there.
But that’s my point Gregus, should a car be collected OR enjoyed? Surely cars like ours should be enjoyed, in their natural environments, not kept in a heated garage/showroom/museum to be gawped at? If one was to own a rare Monet, would it be better to preserve it in a hermetically sealed chamber and kept away from natural light, or put out for people to view? The former ensures it’ll last longer, the latter gives more people more pleasure…
An Exige should be bought & used as intended ie pure enjoyment in all its forms. Monetary value/future appreciation will not be a factor for someone who has & understands “exigeness”.
It’s horses for courses but low mileage cars will always command a premium and be far easier to sell. Don’t make the presumption that all low mileage vehicles aren’t maintained correctly or as well as a vehicle which is used. Mines serviced on the dot as per the schedules and is driven infrequently through summer but I’m very fortunate enough to have other cars, so the mileage is spread across them. It’s done 12k and wants for nothing. If something needs sorting it gets done but I agree all low mileage cars aren’t maintained like that and sometimes get forgotten about in some storage unit.
I think I view it that no it doesn’t matter, but yes if effects value. To a collector who’s not going to use a car, the lower the miles, the more cosmetically perfect a thing, the higher the monetary value.
I think I see cars a bit like this.
0-20k miles: Collector spec. Beautiful. Would like to own, but priced out of my league, and would need storage gremlins sorting out, and using it would reduce it’s appeal to the next box-fresh collector.
20k-70k miles: Low mileage in my book. Buy on condition, History etc, and use/cherish. The sweet-spot. Worth less monetarily than super low miles car, but hugely dependant on condition/service history etc.
70k miles+: Higher mileage. Wouldn’t be my first choice, as perception of high mileage despite excellent condition might limit resale.
It’s something I consider with my 205 GTI. It’s absolutely immaculate, and to look at and to drive will be every bit as good as the 20k miles cars which are appearing from barns and garages across the UK, to be cashed in. However, with mine at 140k miles, buyers and collectors won’t be able to see past that figure, so monetary value will be considerably lower. To me though, I’ve put those miles on it (40k-worth), and have the memories to go with it. -40deg starts in Sweden, playing with a random V8 Vantage along the Norfolk coast on a Saturday morning spin, and walking back to the car to see/hear a chap explaining to his young (10yr old?) kids what the car was, and why it was so “cool”, and why he wanted it. To me, I couldn’t sell it, as that value is irreplaceable.
Great thread Kurt. Can I throw mine into the mix please mate, only because it gives another option…
Currently being nut and bolt restored, trimmed and painted with a complete engine rebuild. There has been some minor deviation across the project but it’s still a 190 VHPD. Actually the engine will look like new when it’s finished. I’ll be honest I can’t seen beyond getting it finished as to what I’ll do with it (apart from more and more fettle).
I think there’s always a smidge of envy/competition/jealousy even between the different variants hence people talking down pricing. It is always nice to hear someone say they would love to own, for example, the S1.
Once prices are on the rise those that are ‘unused’ (<20k miles) will more than likely stay that way for years. It goes from being a decision made with the heart to a financial one sadly.
I agree with the three categories above with the odd one thrown in like JF’s beasty. With the documentation on here that should stand out above other similar cars.
Mine is going to be worth about 2p by the time I get it back; this may be a competition Jonny; who get’s to drive theirs first!!
Honestly, to me, even if I was a collector, mileage on these cars would be a very secondary consideration compared to actual condition.
It’s quite possible that a car thats done under 20k miles but has spend time outside or not looked after is in a much worse state than one thats been well looked after, perhaps had wishbones refurbed etc,etc…
thumbup: seriously every time I make a decision I change it. Just about to fit a brand new OE windscreen because the original is tatty. The steering wheel, very modern OE, good but not S1 OE. It’s all change to the OE as much as possible. Even the mod black around the lights will and can be changed easily for the sake of OE. Two steps forward, one step back it will look MINT. Albeit with chassis age imperfections. Will update the thread soon.
this is where Pesky starts a back slapping. IMO there is defiantly a place for the conversion car. Having sat in a few on circuit, they are in a different league. A COMPLETELY DIFFERENT LEAGUE to a VHPD.
Each to their own, personally I always go for low milers, because I don’t have the need to drive at all really, so I want my cars to be as mint as I can find and enjoy keeping them that way, my CR has 12k on it, it is properly stored, maintained and serviced, it has no storage issues.
I suppose I fall into the collector category, I get a lot of pleasure out of owning my Exige despite doing about 1.2k PA, I just don’t feel the need to put many thousands of miles on it just for the heck of it, but I enjoy the ownership experience all the same .
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