Prices, Summer 2008?

[RayD]

Has all classic car prices fell by a similar amount over the last year or so, or is it just M100’s?

Ray

[MattDon]

all car have come down, its quite supraising what you can get for you money now, id guess with the economy in the state that it is, its entirely possible if not likely that the used car market will be effected and "luxuary" items, such as sports cars will be hit hard. personaly i cant see how the elan could get any cheaper, apart from being such a great car for the money, the parts are so expensive that it often makes sence (financialy) to scrap a car for parts, and that in turn will reduce supply and push up prices, if you want my opinion id say a good example (or trade) elan shouldnt drop much below £4000, with average cars around £500-£1000 less and rough cars going for £2000-3000.

thats my take on things, pure speculation though.

[ailwyn]

I agree with the above, I can't see Elan prices dropping any more (unless Gordon f***s it up even more and sends us into a full blown recession).

I wouldn't hold much stock in what the Elise does either, by Lotus standards it's a mass produced car and is likely to drop to a price lower than the Elan, and the more Lotus sell, the cheaper the bottom end of the market will become.

[RayD]

Of the seventeen M100’s on Pistonheads the average mileage is 71,000 and the average price is £6,867

The dearest one is £17,000 and the cheapest £3,200

If you disregard the top and bottom two the results are...

71,000 miles and £6,430

Ray

[Jackonicko]

That includes trade cars, though, some with warranties of sorts, and they are average ASKING prices, whereas eBay endexes are achieved prices.

I've plotted private and trade prices against mileage, and have come up with two fat hockey stick shaped 'clusters' - trade and private (a few trade cars are priced so competitively that they mingle with the private plots, but the average is about £1500 apart for a given mileage).

The average 71,000 mile car would come in at about £4,750-£6,000 privately, and £7,500-£8,000 private.

[Jackonicko]

DaPinky:

I've followed your lead, prepared for regular spending to get my 'cheapy' in shape.

Cambelt, electric windows and mirrors will be the first job, tyres next year, wishbones at some stage, I expect.

She has 110,000 miles on the clock, and cost well below £3K. there's only on f in Geof Smith (thanks so much for your help, Geoff) seemed pleasantly surprised by how good she was.

On Saturday, I said that "while waiting for prices to hit £2k might be a long wait, this week suggests that a £2,500-£3,000 level is already here."

I've proved that you can get a good runner, in daily use, with a really nice interior, for well under £3,000.

[al]

Well done, and congrats mate. If Geoff is saying she's a good 'un then it sounds like you've done well.
Personally I think there's a lot to be said for getting 'intimate' with your car and fixing things up yourself, whether they're needed or wanted things, it'll make your ownership a lot more rewarding in the long run. As you say, you've got to work to the budget constraints that you have (verses desire to buy it NOW!), and although it would always be nice to buy a minter I think you've made a good pragmatic decision.

It's undoubtedly been said before, assuming you are planning to do the work yourself, there's an absolute goldmine of experience here, and this in itself is going to save you a bucketload of money.

Welcome to the club

[Jackonicko]

Thank you very much, Al.

There will be things that I'll "have done" and non safety critical things I'll be aiming to do myself. Hopefully as my confidence grows, I'll end up doing as much as I have done on the MGs that I'm most used to.

(Though that funny blowy thing on the front of the engine confuses me, and where are the carburettors? )

[theelanman]

(Though that funny blowy thing on the front of the engine confuses me, and where are the carburettors? )

thats one for clemo

now if its superchargers...then surferphil is havin a do

[Rambo]

Well done on your new purchase Jackonicko - I'm sure you will enjoy owning it like the rest of us.

Re. the cambelt change etc have a read here http://www.lotuselancentral.com/forum/v ... hp?t=12376
I have just bought all the parts for me and Clan from RockAuto in the States - prices much cheaper than buying in this country.

Great service - all parts arrived in a week from 3 separate locations. Best to try and team up with some others though in order to keep Fedex postage and Customs duty down as low as possible