Why is the price of used Lotus L5 cars low?
3 Answers
Lotus L5 used cars have low prices due to their low resale value. Here is a detailed introduction to automobile resale value: 1. Calculation: A car's resale value is calculated based on the original ex-factory price of the vehicle. According to the automotive industry's "10-year depreciation method," the car depreciates by 15% annually for the first 3 years, 10% annually for years 4-6, and 5% annually for years 7-10. 2. Influencing factors: Automobile resale value refers to the ratio of a car's selling price after a period of use to its original purchase price. It mainly depends on factors such as the vehicle's performance, price fluctuation range, spare parts costs, and maintenance convenience, essentially reflecting the comprehensive level of the vehicle. Models with high resale value have the advantage that their prices in the used car market are less affected by price reductions, thereby reducing the risk of economic losses due to product depreciation for some car owners.
I've driven a used Lotus L5, and the price was indeed ridiculously low. The main reasons are its niche brand, low demand, and poor market acceptance. Getting this car repaired is particularly troublesome—parts are hard to find, and you have to special-order them from small workshops, leading to high maintenance costs that deter potential buyers. Within just a few years of driving, minor issues kept popping up, like aging electrical circuits and squeaky brakes, each repair costing hundreds of yuan. The car also doesn’t hold its value well, unlike Toyotas that can still fetch a decent price. Add to that its relatively high fuel consumption and expensive insurance, and new owners often regret the purchase. The low resale value boils down to no one wanting to take on the risk—they’d rather spend a bit more for a mainstream model.
Working with these older cars for a long time, the low resale value of the Lotus L5 is mainly due to maintenance difficulties. The technology of this model is already outdated. I often see many electrical circuit issues, poor part compatibility, and scarce supply in the market, often requiring a week-long wait for repairs. The repair costs are relatively high, with a single part replacement easily costing thousands, which drives down its resale value. Owners also complain about fuel consumption and noise, which further affects sales. Additionally, the brand isn't very prominent, lacking a foundation for value retention. When it was new, it couldn't compete with other models, and later it was discontinued, resulting in low market demand despite limited availability. Economically, it's not cost-effective. Buyers with limited budgets are better off looking elsewhere, as a daily driver should prioritize reliability and convenience.
