Lotus increased interest rate from 5.9% to 6.9%

[TomE]

The official emissions figure for the Emira V6 is higher than the original target, so it’s in the next UK tax band up and hence the VED is going to be higher.

This is included in the configurator finance calculation. It is not part of the Lotus OTR cost but is a separate cost

The increased emissions and VED have’t been publicised but I spotted the slight increase last week and Lotus confirmed yesterday.

Finance rate has gone up due to interest rate increases from the providers, nothing to do with emissions.

 

[Mctaff]

Oh well, I'm still paying the increase to get my car. I find its always tight arses with loads of money who moan constantly. Bottom line is you get a new car and you just pass the increase on when you sell. Looking at Evora / Exige prices on the market some are more than what Im paying including interest?

Indeed. Albeit completely unrelated to my quoted post 🤣

 

[Pops68]

I wouldnt suggest using theirs. I would suggest one that is not through Lotus. Lower rates can still be found with CU's and other means. I was quoted 4.99% for 40k. I plan on putting 50k down (already have 11k down and will put 39k down at signing). Although I am fighting my demons to just invest that 50k and finance the rest, but I don't want the heavy debt burden.

My thought too! I'd pay cash but in a down market I don't want to sell any more stock than I need to so figure $100k pp-$10k at order and $40k(maybe$50k depends on market at the time) upon receipt. Then finance 48mos with a credit union but pay $10k each year (to keep my capital gains in the lower bracket here in Kalif. Should have it knocked out by 36mos. with minimal damage to the ol' portfolio...

 

[Pops68]

Interesting, as in the last Email i received from Lotus, Mr Windle said the prices quoted on the site would not increase. It seems the finance interest rate, Lotus feels, is ok to increase.

That's the nature of the industry. I'm sure they are tied to the LIBOR.

 

[Pops68]

For me it doesn’t matter if it’s a cheap econobox or an expensive sports car, the formula is simple: If I think I can net a higher return post taxes investing the money than it costs to finance the vehicle — then I will take the financing. If not, I buy it cash.

Aw you're no fun! That's way to sensible... This will probably be my last sports car at 67 (maybe68-69 by the time I get in the seat) so if I gotta sacrifice a few thousand in interest it's a price I'm eager to pay...after all the kids will be getting the car so I don't need to leave as much money behind!!