Commiserate with me - I shouldn't buy a Lotus Elise, Update: But I just did.

[_Rick_]

Bare with me, while I tell a tale of tragedy:

Found this gem: http://ww3.autoscout24.de/classified/271481691?asrc=st|as&testvariant=articles_black&tierlayer=st

only a few (barely double-digit) miles from where I live (there's a racier S1 on sale at the same distance, the other direction - the region is a bit car-mad...)

So sure, it has above 30k miles on it, and it's not cheap per se -- but I have sufficient savings to just pay in cash, I currently have a company car and my Swift Sport, which I could probably sell for around 8-10k.

I'll probably either stay at this job for a while yet, or alternatively move to Munich, where I could use a company leasing scheme, or do without a car, since those are pretty pointless.

Look at the awesome paintjob!

But the cons:
It's an Elise. It has less power than my Swift (but also around 400lbs less weight)
I'll probably be eating around 8-10k in depreciation over 3 years (roughly the same as for my Swift, which I bought almost new)
It has no radio, no aircon.
It's just a hugely unsound decision to buy an Elise, financially and logistically.
It will surely end in heartbreak!

...I don't even have a garage!



.....god I want one. That one would more than do, I suspect. Help me

Edited for extra yellow stripes. Also, I suspect I could get the price down to where it's roughly 9 month's net salary - a similar car for sale in Austria is listed at 22k€, with double the miles.

 

[michal1980]

Why would a fairly 'old' care depreciate that much? Most of the depreciation should have already happened, unless there was significant custom work done that the seller wants you to pay for.

 

[The Boston Dangler]

no garage, no elise

fur elise

 

[DigDog]

the elise is a cute car but ridiculously overpriced.

 

[pauldun170]

Bare with me, while I tell a tale of tragedy:

Found this gem: http://ww3.autoscout24.de/classified/271481691?asrc=st|as&testvariant=articles_black&tierlayer=st

only a few (barely double-digit) miles from where I live (there's a racier S1 on sale at the same distance, the other direction - the region is a bit car-mad...)

So sure, it has above 30k miles on it, and it's not cheap per se -- but I have sufficient savings to just pay in cash, I currently have a company car and my Swift Sport, which I could probably sell for around 8-10k.

I'll probably either stay at this job for a while yet, or alternatively move to Munich, where I could use a company leasing scheme, or do without a car, since those are pretty pointless.

Look at the awesome paintjob!

But the cons:
It's an Elise. It has less power than my Swift (but also around 400lbs less weight)
I'll probably be eating around 8-10k in depreciation over 3 years (roughly the same as for my Swift, which I bought almost new)
It has no radio, no aircon.
It's just a hugely unsound decision to buy an Elise, financially and logistically.
It will surely end in heartbreak!

...I don't even have a garage!



.....god I want one. That one would more than do, I suspect. Help me

Edited for extra yellow stripes. Also, I suspect I could get the price down to where it's roughly 9 month's net salary - a similar car for sale in Austria is listed at 22k€, with double the miles.

I agree that an Elise needs a to be stored in a garage. Some parts of that car are held on by Elmers glue.

Is that one in the ad with the Rover engine or the Toyota engine?

Keep in mind that an Elise needs perfect roads. Any crack, or bump or even small insect will be transmitted through the car to your spine. A man was once left paralyzed after driving over a pencil.
At least that's why I read in a newsletter or mailing of some sort.

I'd buy an Elise.

 

[Yuriman]

I agree that an Elise needs a to be stored in a garage. Some parts of that car are held on by Elmers glue.

Is that one in the ad with the Rover engine or the Toyota engine?

Keep in mind that an Elise needs perfect roads. Any crack, or bump or even small insect will be transmitted through the car to your spine. A man was once left paralyzed after driving over a pencil.
At least that's why I read in a newsletter or mailing of some sort.

I'd buy an Elise.

Seconded. If there were one irrational car purchase I'd consider, it's an Elise, but I definitely would not do it without a garage.

I'd bet it's a Toyota, but I'd be pretty quick to swap a Honda K20 into it (maybe with a small turbo) regardless.

 

[Crono]

I would love to have an Elise. The only car I want more is it's sibling, the Exige.

I like the base color - though if it were me I'd probably go out of my way to find a blue one - but not the stripes.

 

[angminas]

With that paint job and no garage, you'd better stay on the good side of the cops and never start any road rage.

 

[twinrider1]

This thread is now a garage build thread.

Spend the money on a garage. We'll need to see a map of your property for best advice on layout.

 

[tweakmonkey]

I love the green but hate the stripes. There was a green one here like that with Volk(?) wheels in white or silver. It looked amazing.

Also - here at least (USA) Elise's haven't depreciated much at all in years. They hold their value very well. They're such a great car with virtually no competitors. Something you wouldn't want to live with every day but unrivaled in the sports car world for what you get.

 

[JulesMaximus]

Seconded. If there were one irrational car purchase I'd consider, it's an Elise, but I definitely would not do it without a garage.

I'd bet it's a Toyota, but I'd be pretty quick to swap a Honda K20 into it (maybe with a small turbo) regardless.

It doesn't need it. That Toyota engine is more than capable of powering the car. The entire car weighs less than 2000lbs so it is plenty fast stock.

Also, these cars hold their value well so depreciation shouldn't be that much. Even a 2005 model will fetch $35k easily here in the US (if anything they've gone up in value in the last few years).

My only gripe with the car is that it is ridiculously hard to get in and out of if you are over 5'10" tall (I am). The fuel tank is small and the car has almost no storage space in the boot. You might be able to fit a few bags of groceries in it but that's it. Also, the mirrors are pretty much useless.

Look carefully for any damage to the front and rear clam (this is the body of the car, it is two pieces that are bonded to the chassis). If it has damage it is very difficult to repair and VERY costly to replace.

Still, I've never driven a car that was as engaging or more rewarding to drive than the Lotus Elise. I'd love to have one.

 

[DigDog]

you are paying 25k euro for a used car with 120hp (when new).

come on man. it's a rover engine.. not worth it.

 

[_Rick_]

It's also a 710kg dry bare-bones early model, before they got fat and hit 800, 850 kilo.

I'd have to rent a garage somewhere, I presume, or just move to a new place. With a live-in garage, or bust!
Garage shouldn't be the killer, I think.
Also, I might have been slightly pessimistic with depreciation, I agree. Still, it's a bit of a tough sell, with a small market.

The stripes, they actually work for me - it's a racy car, it can wear some racy makeup.

Also, the 25k isn't what really matters - the current savings market means money saved is money wasted, and unless I bin it, I'll only take the depreciation + insurance + road tax hit - which will likely be comparable to what I'm currently paying, especially as the car would only be registered for march-oktober, which drives those costs down. Garage rental is going to be more of an issue than the "deposit".

Also, I wonder if it's possible to swap in a VVT valvetrain+ecu onto the block, and get those extra 30 horse.

I'll be looking for garages and see if I can get a test drive :-S

 

[brainhulk]

The answer is always s2000

 

[_Rick_]

The answer is always s2000

That's way too practical! Not mid-engined enough! Reliable! Cheap!


...also it isn't the car I have dreamt of owning for 15 years now

 

[tweakmonkey]

Having owned a couple s2000s (great cars) I'd much rather have a Lotus. It's like 800 pounds lighter and mid engine. Sure it's not as practical but it's another level of sports car. S2000s are incredible bang for the buck fun factor etc. also lousy daily drivers for the powerband though

 

[eng2d2]

I heard that its a great corolla motor.

 

[QueBert]

The answer is always s2000

Sure, if the question's what car is almost as fun to drive but not nearly as quick as a Solstice GXP or Sky Redline.

 

[brainhulk]

Sure, if the question's what car is almost as fun to drive but not nearly as quick as a Solstice GXP or Sky Redline.

Is a Sky Redline faster than a 911 or M3 in twisty roads, is it mid-ship engine, does it have an 8000rpm redline, and most importantly-does it have the muscle car stomping VTEC?

Nope

 

[Sulaco]

Sure, if the question's what car is almost as fun to drive but not nearly as quick as a Solstice GXP or Sky Redline.

...or as crappily built..:whiste:

 

[JulesMaximus]

Sure, if the question's what car is almost as fun to drive but not nearly as quick as a Solstice GXP or Sky Redline.

:thumbsdown: I wouldn't buy either of those two cars quite frankly over an S2000.

 

[nerp]

I would highly recommend getting one. Or a Caterham. Do it. Ignore all the obstacles, complexities and potential problems with owning one and keeping it. Just do it if you have the money. It's worth it. Such a great car to own. And you can convince yourself it's an investment or something. . .

 

[_Rick_]

Seller just lobbed a grand off the price.
Finding a garage is difficult.

Temptation is strong.

 

[deathBOB]

How did you calculate estimated depreciation costs? I thought these things experienced very little depreciation.

 

[_Rick_]

How did you calculate estimated depreciation costs? I thought these things experienced very little depreciation.

I eyeballed earlier/higher milage models - that gives me roughly a two year estimate for this car (excepting limited edition markup, which is probably 0 in this case), and by including S1s I can go back another few years.

Of course, that's very linear/simplicistic, and I suspect for a working one with no obvious blemishes, the price won't drop below 15k euro - ever.

That just leaves me with the costs of keeping it in that condition - mostly a nice, dry place, to put it when it rains