buying Someone Just Bought the Oldest New Car for Sale in the U.S.
Used car prices jump 10%, thanks to new-car coronavirus crunch
Inventory shortages mean you're paying a lot more for a used car compared to last year, especially if you want a pickup truck.But for those moving to the used car market, it's a tough pill to swallow, too. Data shows used car prices are up a whopping 9.5% from this time last year. In dollars, the percentage increase translates to an average price hike of $2,193. The narrative remains the same, however. As more buyers can't find a new car they want due to inventory constraints, they're looking at a comparable used car. Supply and demand shows as more buyers want a used car, prices increase.
- A Connecticut dealer just sold a brand-new after having it in stock for seven years.
- We're calling this the oldest new car sold in the U.S. Prove us wrong! The 2014 model now has an expired warranty, and it was sold for $20,000 under sticker.
- Don't worry, other Lotus cars for sale, including the next-oldest: >>>P.
Steve Plona just sold a new Lotus Evora—and it took him only seven years to do it.
Omitting the last Lexus LFA that's presumably>>>P, this 2014 Evora S 2+2 was unofficially the oldest new car for sale in America until a few days ago. How on earth could a $90,000 sports car sit unsold in Connecticut, a state brimming with wealthy sports-car owners, under three U.S. presidents? Forget a moment that it's a new Lotus—an obscurity that doesn't quite age like a good French champagne—and instead picture this white-on-black coupe as one man's quiet dissent.
Why Honda Civic, Subaru BRZ Are Keeping Manual Transmissions Alive
These new cars, plus the Mazda Miata and Ford Mustang, are some of the last hopes out there for stick-shift fans. Honda and Subaru both unveiled vehicles this week that offer manual transmissions: the 2022 Civic prototype and the 2022 BRZ.While sales numbers and availability of manual transmissions are shrinking, there remains an enthusiast market that is still hungry for three pedals. Young drivers are also still buying vehicles with manual transmissions.This week both the 11th-generation Honda Civic and 2022 Subaru BRZ were unveiled to the public.
"It was a protest to some schemes of the pricing people had," said Plona, general manager for Secor Lotus in New London."I think it's an undervalued brand."
The buyer was an Elise owner from Long Island, New York, who claimed the car for about $70,000, he said. The factory warranty is expired. The tires, engine oil, and battery are original. But that sounds worse than it is. Plona said he plugged in a trickle charger, overfilled the tires to avoid rot, and changed all fluids except for the synthetic oil, which he kept for the new owner to change out at the 1000-mile engine break-in. Every so often, Plona would take the Evora out from climate-controlled storage to let it run. The odometer clocked less than 100 miles.
"There were a lot of dealers that were deeply discounting those cars," he said."I thought that was hurting the brand."
Complete Guide: How to Buy a Used Car
The single easiest way to save money when buying a car is to purchase a used model instead of a new vehicle. When you buy a new car, the second you leave the dealer's lot, it starts to rapidly depreciate, losing a significant amount of its value in the first few years of ownership. When you buy a used car, the original owner absorbs the pain of its steep depreciation during its early years. You pay far less than you would have if you had purchased the car new. There may be more maintenance required on a used car that's out of warranty, and its financing may be a bit more expensive.
Plona's discount, seven years on, is roughly what many Lotus dealers were doling out in 2014. Steep depreciation and a near-invisible presence have made modern life hard for Lotus dealers. Yet the U.S. is the company's number-two market behind Germany, and North America is the number-one region. Lotus sales were great in 2020—a couple hundred, according to Plona—and so were his dealership sales: seven, both new and used.
It's not like Lotus the company has been in a hurry. The Evora's door card shows a December 2013 build date, noting the airbag exemption that would expire shortly after. Lotus didn't install a passenger airbag with a child sensor in time, so itfor an entire year. In 2014, we asked then CEO Jean-Marc Gales >>>P, who"insisted there is enough inventory of'14-spec Evoras to meet demand until the new model arrives." Lord, was Gales right.
Bentley Reveals First New 4.5-Litre Blower In 90 Years
It's the first of a 'continuation' range built to original drawings. Bentley has revealed the first new 4.5-litre "Blower" to be built since 1930 as it begins production of a new "continuation" range. The Blower Continuation Series comprises 12 cars, all of which are already sold, but this is "Car Zero," and it will be used as a testing prototype for the other dozen vehicles. Huge amounts of work have gone into the prototype, which was built using original drawings and a 3D laser scan of Bentley’s own Team Car, which wears the registration UU 5872.
When the Evora>>>P, Lotus was on top of the world supplying Tesla with Elise bodies. The British automaker soon promised a five-car lineup and made music producer >>>P. Then the world fell. The company's board and went >>>P. Its two prime cars, the Elise and Exige, failed to meet U.S. emissions and safety rules. They and only returned five years later as >>>P. Chinese automaker Geely bought Lotus from a Malaysian investment group in 2017 and now promises a >>>P.
"People in the know, they know what the brand is and its storied past," Plona said. But there aren't many, which means Plona will happily valet cars for service—one customer lives more than 100 miles away in Massachusetts—and keep those people from buying a Porsche.
Plona's devotion to customers and refusal to underprice might make him this country's staunchest Lotus advocate, or maybe he's just the rare car salesman who exercises patience. He loves the Evora. He's got seven new GT models in stock, and already he's on to the next long game: ain custom Red Velvet paint. Perhaps it might be yours in another few years.
Buy This First-Gen Handmade Pre-Production Dodge Viper For $250K .
It’s one of 183 pre-production models that Dodge built. If 2020 was the Year of the Viper, then early indicators show 2021 could be even bigger. Last year, used first-generation Dodge Viper models began receiving the love they've longed deserved. Prices on the used market have started to climb, with Lee Iacocca's own 1992 Viper RT/10 selling for a cool $285,000 last year. Another early example is for sale, though it's even more unique as it's a handmade pre-production model. The listing at GTToyz.