Depreciation/Appreciation on New Lotus Emiras

[Tonyshepp]

Out of boredom I used the registration plate of a yellow Emira demonstrator and 2000 miles, 0 users, full history.

Appreciate there's none for sale but if you fall on hard times and need to sell early on there's a massive hit on depreciation.

 

[Auto Smiler]

WBAC are owned by BCA. In most cases, the cars are sent to auction and WBAC will pay below auction prices to realise a profit. I wouldn’t read too much in to their valuation at this stage because they have no idea of the resale value as they have no auction data on the vehicle.

 

[emiraspain]

yes you have to start somewhere, but WBAC at this juncture is 100% irrelevant as no one will be taking their car to them or buying a car from them.
Its clear there is 0% depreciation as of now and until we have an actual add of a car for sale, we cannot realistically report any rise or fall in value, but lets see how the next 2 3 months go. Speak of a car at 105k, but cant see it anywhere so its a ghost car for the moment....

 

[JimH]

WBAC are owned by BCA. In most cases, the cars are sent to auction and WBAC will pay below auction prices to realise a profit. I wouldn’t read too much in to their valuation at this stage because they have no idea of the resale value as they have no auction data on the vehicle.

The same people as provide the trade-in valuations and disposal process for used cars being traded against new Emiras in the UK I believe.....

 

[JohnHoward]

Out of boredom I used the registration plate of a yellow Emira demonstrator and 2000 miles, 0 users, full history.

Appreciate there's none for sale but if you fall on hard times and need to sell early on there's a massive hit on depreciation.

I did the same (just for fun) using motorway and one of the dealer registrations and their indicative price was £74,143, but as @Auto Smiler notes, there is no data in the system yet with no sales, so the algorithms have nothing to work with other than default assumptions. I got a price of £63,990 from WBAC.
None of it really means anything at this stage, but it passes the time!

What will be really interesting, probably in the early part of next year, is if there are any flips or forced sales due to changes in circumstances. I find the whole topic of supply and demand fascinating. I know that there is obvioulsy demand for the Emira, the big order book demonstrates that. But what we don't know is how many people who want (and can afford) an Emira have already got an order in, what is the residual demand? Some sales will be driven by the Emira being seen on the road, but is is hardly an impulse purchase. There will be many people who want one of course, but not as many in the very fortunate position of being able to buy one. What marketing activity will Lotus have. This is a very expensive business to do it properly and you don't necessarily get overnight results.
I think that by next year as the cost of living really bites, the whole car buying market will be adversely affected, there is perhaps already some evidence of softening prices on 2nd hand as others have noted on here.
Other things that we are yet to see is real world reviews of the general public owning cars (rather than motoring journalists or Youtubers). Early reliability will also play a part.
I am sure that as soon as there is 2nd hand Emira for sale in the UK, for whatever reason, there will be a surge in activity on the forum. Interesting times ahead.

 

[Magicman]

Central lotus have a yellow car at 105k with delivery miles

 

[emiraspain]

Central lotus have a yellow car at 105k with delivery miles

its not listed on their website, i cant see it yet anyway... maybe next week

 

[Pops68]

WBAC are owned by BCA. In most cases, the cars are sent to auction and WBAC will pay below auction prices to realise a profit. I wouldn’t read too much in to their valuation at this stage because they have no idea of the resale value as they have no auction data on the vehicle.

Yeah that's the same as here in the States with Real Estate Brokers offering cash for your house. Of course you're gunna get screwed so they can make a profit. I can't imagine with the slow output rate and great demand that an Emira wouldn't sell for substantially more than retail.....at least for awhile.

 

[emiraspain]

So for info..
I have spoken to the well known auction site.... collecting expensively commissioned cars.com
They have already been contacted by several Emira "owners", but dont have any actual cars lined up yet it would seem.
They will be working with a reserve of about 81k ish... and expecting 81-85... which is wrong I believe.... I would stake my house on it being wrong actually, at least for the 1st several cars, before the market softens. They will only put the cars on their site, as per usual, when there are 150 professional photos available, ie you need the physical car to be delivered, or dont waste your time, even though its new.
I still am pretty sure the first 3 4 5 6 cars will go for between 90-100k easy enough and if they dont, then this car is going to drop like a stone in resale value and orders will also drop off as people will start to pick them up used instead of waiting a year for delivery.
Its going to be interesting... In a way its a good time for the Emira, due to Porsche NOT updating the competition for several years and it now never will be until its an EV. However, in another way, with interest rates and inflation and the overall economy going to hell in a handbag, its a bad time.
IN 6 months we will either have resale values hovering around 85k for cars with 1000 miles, or..if they are around 75/80k, ie the msrp, then as I said, orders will be cancelled for the above reason and to avoid a big depreciation hit. Its going to be interesting.....

 

[Leonard]

So for info..
I have spoken to the well known auction site.... collecting expensively commissioned cars.com
They have already been contacted by several Emira "owners", but dont have any actual cars lined up yet it would seem.
They will be working with a reserve of about 81k ish... and expecting 81-85... which is wrong I believe.... I would stake my house on it being wrong actually, at least for the 1st several cars, before the market softens. They will only put the cars on their site, as per usual, when there are 150 professional photos available, ie you need the physical car to be delivered, or dont waste your time, even though its new.
I still am pretty sure the first 3 4 5 6 cars will go for between 90-100k easy enough and if they dont, then this car is going to drop like a stone in resale value and orders will also drop off as people will start to pick them up used instead of waiting a year for delivery.
Its going to be interesting... In a way its a good time for the Emira, due to Porsche NOT updating the competition for several years and it now never will be until its an EV. However, in another way, with interest rates and inflation and the overall economy going to hell in a handbag, its a bad time.
IN 6 months we will either have resale values hovering around 85k for cars with 1000 miles, or..if they are around 75/80k, ie the msrp, then as I said, orders will be cancelled for the above reason and to avoid a big depreciation hit. Its going to be interesting.....

Nope 85k is exactly what I thought so must be right 😇

Nobody is buying sports cars way over list anymore, especially in the middle of winter.

Im pretty sure that in 6 months you wont have to wait you can just choose your specification from the models available new on autotrader and pay your £80k

You may well have one of the 1st cars at Collecting Cars, so hope you do well. Would hate for you to lose out and not be able to afford to import your girlfriends from South America anymore 😉😘

 

[Careon]

Out of boredom I used the registration plate of a yellow Emira demonstrator and 2000 miles, 0 users, full history.

Appreciate there's none for sale but if you fall on hard times and need to sell early on there's a massive hit on depreciation.

View attachment 10747

Yes, don't take any notice these site are only any good for mass produced cars. Just sold a 2022 JCW mini WBAC price £25,500 (May 2022). Mini dealer 26-30. Sold it to an independent for 35K who passed it on for near 40K

 

[emiraspain]

Nope 85k is exactly what I thought so must be right 😇

Nobody is buying sports cars way over list anymore, especially in the middle of winter.

Im pretty sure that in 6 months you wont have to wait you can just choose your specification from the models available new on autotrader and pay your £80k

You may well have one of the 1st cars at Collecting Cars, so hope you do well. Would hate for you to lose out and not be able to afford to import your girlfriends from South America anymore 😉😘

haha.... I'd sell my soul to import them..... Cant be doing with these pint drinking pot belly... I'll say no more.
You say no one is paying overs for sports cars, apart from 250k for a 718 GT4 RS and 250k 911 touring and none touring...
ohh but u mean anyone thats not buying a porsche I get it..
but then the Roma and several ferraris, but you mean anyone not buying these two largest sports car makers..
ok ok..I follow you now... you mean just Lotus...and all the other yobo BMW and Yaris GR cars.. haha

 

[Leonard]

How does UK Car tax work anyway if you sell in a new car immediately. Do you even have to tax it, can you SORN it from new...?
Or do you pay it and it stays with the car for one year transferable? So a new buyer wouldnt have to pay until year 2?

 

[Leonard]

haha.... I'd sell my soul to import them..... Cant be doing with these pint drinking pot belly... I'll say no more.
You say no one is paying overs for sports cars, apart from 250k for a 718 GT4 RS and 250k 911 touring and none touring...
ohh but u mean anyone thats not buying a porsche I get it..
but then the Roma and several ferraris, but you mean anyone not buying these two largest sports car makers..
ok ok..I follow you now... you mean just Lotus...and all the other yobo BMW and Yaris GR cars.. haha

Yup you defo did well to read between the lines there lol

 

[emiraspain]

How does UK Car tax work anyway if you sell in a new car immediately. Do you even have to tax it, can you SORN it from new...?
Or do you pay it and it stays with the car for one year transferable? So a new buyer wouldnt have to pay until year 2?

Refund for the first tax payment on the vehicle​

The amount you get back will be based on whichever is lower of:

• the first tax payment when you registered the vehicle
• the rate for the second tax payment onwards
  
  https://www.gov.uk/vehicle-tax-rate-tables

 

[ChrisJ]

Yes, don't take any notice these site are only any good for mass produced cars. Just sold a 2022 JCW mini WBAC price £25,500 (May 2022). Mini dealer 26-30. Sold it to an independent for 35K who passed it on for near 40K

Always worth checking. I sold my AMG E63 through WBAC earlier this year ... after deductions and fees it was still 20% more than p/ex offer through main dealer and 15% more than independent.

Personally bar perhaps a few early exceptions I cannot see anything other that depreciation on Emira. I'm budgeting £1k per month for depreciation.

 

[emiraspain]

Refund for the first tax payment on the vehicle​

The amount you get back will be based on whichever is lower of:

• the first tax payment when you registered the vehicle
• the rate for the second tax payment onwards
  
  https://www.gov.uk/vehicle-tax-rate-tables

So unless I am wrong, and I could be, you get back a bit over 500 of the 2000 odd you spend taxing it...

 

[Leonard]

So unless I am wrong, and I could be, you get back a bit over 500 of the 2000 odd you spend taxing it...

I thought you didnt get much back.
And then the new owner has to pay 2 grand???? Something to take into account

 

[emiraspain]

I thought you didnt get much back.
And then the new owner has to pay 2 grand???? Something to take into account

no, the new owner would not have to pay 2000 as you have already paid it, you get back 500 and they would have to pay that....this is all proportional of course during 12 months...

 

[emiraspain]

first emira on collecting cars possibly going live in wednesday...
lets see if Leonard or Gary are correct.....