Emiras advertised for sale on other sites

[John_Matrix]

I’m in the UK and currently carless, which puts me in a good position to buy. I’m looking at Emira prices as well as some other, similar cars.
Whilst WBAC isn’t close to reality on a lot of cars, their bids are useful as a benchmark. Given the supply of Emira vs the number of potential buyers it’s not hard to predict where prices are headed- sale prices for cars in a private sale have got to be around £65k before the end of this year.
Assuming supply keeps pushing cars out and people keep wanting to off load them, I can see cars selling sub £60k early next year.
My understanding is dealers don’t want them and won’t bid on them.
At £60k they are compelling. Just wish they were at that price point today.

 

[Duncx]

Not sure if this a new listing on Pistonheads but it's definitely the cheapest I've seen so far. For anyone not wanting to click the link it's a private seller, 2022 car, yellow, silver wheels, ancantara, 3K miles - £70K 😳

Used LOTUS EMIRA (131) V6 FIRST EDITION 2022 for sale

Check out this LOTUS EMIRA (131) V6 FIRST EDITION 2022 for sale on PistonHeads. Get in touch for more information or to take a test drive today!

www.pistonheads.com

EDIT: and come to think of it I really like that spec, it's the sort of thing I was thinking about before I bailed at the first price increase 🤨

 

[John_Matrix]

From what I’ve read, the Touring chassis may work better for my use. That’s a cheap example but still £12k over WBAC. I don’t know if there is much clamour in the private market for one of these at £70k.

 

[TomE]

Not sure if this a new listing on Pistonheads but it's definitely the cheapest I've seen so far. For anyone not wanting to click the link it's a private seller, 2022 car, yellow, silver wheels, ancantara, 3K miles - £70K 😳

Used LOTUS EMIRA (131) V6 FIRST EDITION 2022 for sale

Check out this LOTUS EMIRA (131) V6 FIRST EDITION 2022 for sale on PistonHeads. Get in touch for more information or to take a test drive today!

www.pistonheads.com

EDIT: and come to think of it I really like that spec, it's the sort of thing I was thinking about before I bailed at the first price increase 🤨

Listed on 5 Sept and I think it's the first one under £70k. It's a Dec 2022 car, so one of the very early ones. That might put some people off based on some of the early teething problems, but initial issues should have been sorted after 10 months and it's still under warranty for another 2+ years.

I also noticed my local dealer (Bell & Colvill) has two new, unregistered Emiras at £82k, so basically the previous list price. I assume cancelled orders.

 

[Lotustoronto]

Tom, do you know if the UK order book as been satisfied, or if there is still a large amount of UK customers waiting for their Emira's (non i4). Also is V6 F/E still able to be ordered in the UK?

Seems like some of these listed for sale would have been snatched up quicker if this was the case, being a bigger price difference now.

 

[John_Matrix]

Does anyone here have experience recently of selling their car? Am I correct that franchised dealers won’t bid, just offer sale or return?
I don’t know the seller of the yellow car but considering it’s a private sale I’m sure £67 likely buys it.
The question for me and I’m sure many others, is when this initial depreciation bottoms out to a sustainable level. I see them settling next year at high £50’s early £60’s for an early V6.

 

[BeHappy]

Whoosh a great buy here just a couple of months old great saving v’s new

 

[John_Matrix]

Whoosh a great buy here just a couple of months old great saving v’s new

View attachment 31301

There is a yellow car advertised at £69995. Though I saw this car this morning as well. It’s just too much given the rate these are dropping at each month. Has anyone actually bought one in a private sale?

 

[Rudolph]

* * * * *
Rather promising for potential, non commited potential Emira buyers......
49 x Emira on Autotrader.UK of which now more than half / already 28 are below GBP 80k.....

 

[_w_]

I bought in a private sale earlier in the summer. Was originally planning a late order for i4, hoping to be able to afford it in a couple of years (V6 just didn’t seem possible in any way for me). Change of circumstance meant it became possible in July, there was one in perfect spec available, private sale meant I could actually see the car and scope out for any of the issues mentioned (extensively) on the forum. Was the second cheapest on offer at the time. Ok the price has dropped a tiny bit since then, but I’ve had a great summer.

If my circumstances had changed in October instead of July then it may have gone a different way 🤷‍♂️

 

[John_Matrix]

That’s interesting. I was coming to think no cars had changed hands privately. It’s seems likely that 23 plate cars all mostly buyable close to £70k.
My understanding is that dealers won’t buy them for stock, which is understandable given the fact cars are available new.
Cars used to lose the vat immediately on purchase so in that context an £80k car being worth £70k the day after purchase isn’t that surprising. We’ve become used to cars not depreciating. I’m sure many thought the Emira would hold value like the Elise did when it launched.

 

[TomE]

Tom, do you know if the UK order book as been satisfied, or if there is still a large amount of UK customers waiting for their Emira's (non i4). Also is V6 F/E still able to be ordered in the UK?

Seems like some of these listed for sale would have been snatched up quicker if this was the case, being a bigger price difference now.

There is still a very full UK order book, with V6 deposits for cars scheduled for delivery through next year. I have two deposits in place, one was spec-locked in mid August and is supposedly a Q2 2024 build. The second deposit is currently in the V6 FE queue but I intend to switch it to Base V6 when that queue opens - in the meantime Lotus still count it as a V6 FE slot and that hasn't come up yet for spec locking and in theory is an H2 2024 build.

Lotus UK website will still let you order a V6 FE at the moment. I don't know what lead time they are currently quoting, it was 60-65 weeks a couple of months ago. I was expecting them to declare an end date at or after Goodwood Festival of Speed in July but I guess they are keeping it open until they announce Base pricing (now delayed to Q1 2024).

The UK used Emira market is affected by the big jump in finance costs, cost of living concerns and autumn just around the corner.

UK dealers have access to a pool of cancelled orders at list price, so aren't interested in picking up used Emira stock. If you're selling an Exige, Elise or Evora it's a different story.

 

[John_Matrix]

So, given Lotus dealers won’t buy them from private sellers, that leaves the outlet for them as Motorway, CarWow and the like or finding a private sale. The volume of cars currently for sale must really be demoralising if you want to sell now.

 

[BeHappy]

So, given Lotus dealers won’t buy them from private sellers, that leaves the outlet for them as Motorway, CarWow and the like or finding a private sale. The volume of cars currently for sale must really be demoralising if you want to sell now.

Some have sold but some have sat on autotrader for months - there’s a 8 month old car with just delivery miles still for sale. If the order book is that full and long feels strange that Lotus dealers have access to lots of orphaned cars. I see another bunch of unregistered cars have just come on, it’s not like there are that many choices / options. I know if I was wanting a car I’d rather get one with maybe a spec compromise rather than waiting a year

 

[TomE]

So, given Lotus dealers won’t buy them from private sellers, that leaves the outlet for them as Motorway, CarWow and the like or finding a private sale. The volume of cars currently for sale must really be demoralising if you want to sell now.

Several seem to be with specialist performance car dealers. Possibly some are on Sale or Return, others may be cars being flipped by the dealer and some are probably trade ins.

 

[Lotustoronto]

Looks like V6 F/E production will stretch well into 2024 at this rate - Thank-you Tom for the insight.

 

[Cachaco131]

Looks like V6 F/E production will stretch well into 2024 at this rate - Thank-you Tom for the insight.

😂 "First Edition", 2y after start of production?

 

[981KMAN]

😂 "First Edition", 2y after start of production?

Haha, Great point! "First Edition" in my book is becoming synonymous with "First Production Problems"..

Unless I could find a really great deal on a lightly used Emira, I rather order a Base Model that I can spec my way, and have most of the production issues solved prior to production of the car.

 

[Lotustoronto]

Haha, Great point! "First Edition" in my book is becoming synonymous with "First Production Problems"..

Unless I could find a really great deal on a lightly used Emira, I rather order a Base Model that I can spec my way, and have most of the production issues solved prior to production of the car.

At this rate I wouldn't expect any base editions for North America until summer 2025.... seems so far away

 

[981KMAN]

At this rate I wouldn't expect any base editions for North America until summer 2025.... seems so far away

You may be correct! Who knows?

My Dealer says Late Summer - Fall of 2024 for Base Model orders, yet like I said - "who knows?".....