Advice needed on buying a K-Series Caterham Seven

[Caterham84]

Hi,

I'm considering buying a Caterham 7 based around the K-Series engine, and would appreciate some advice.

I'll firstly give you some background information about myself. It's been a dream of mine to own a Caterham Seven ever since I was a teenager. My original plan was to buy a new car from a kit and build it myself. However, various real life issues always got in the way (lack of money, lack of garage space, lack of time, health problems, etc.) and eventually I moved on to other things.

Anyway, I'm now in the position of having to purchase a new car, and for the first time in over 20 years, I'm once again seriously considering buying a Caterham Seven. However, I'm beginning to realise that a lot has changed in the Caterham world since I've been away. And unfortunately, it's mostly not for the better.

The hassle and expense of putting a car through the (increasingly ridiculous) IVA test has put me off the idea of buying a kit. I'm also a bit shocked by the current prices. Caterhams were never exactly cheap, but their prices seem higher than I remember. In particular, their entry level 160 model seems poor value compared to the K-Series based classic model that it replaced (although it does tick a lot of my boxes).

I'm also not keen on the changes that Caterham have made to the styling of their new cars. I prefer the 60s styled Sevens with big chrome headlights, clamshell wings, bench seats, etc. I also happen to think that Caterham's new square badge is hideous. That's obviously a minor point, but it does suggest that the people currently running the company don't share my taste.

So I've reluctantly been looking at second-hand options. After a lot of research, I've decided that a second hand K-Series car offers the best compromise between price and the features that I'm after.

I've set myself a strict budget of £12,000. I'd obviously prefer to pay less but I would be prepared to pay up to that amount for a car that ticks all of my boxes.

According to several online buying guides and forums that I've looked at, it should easily be possible to purchase an entry level K-Series car for that sort of money. However, when I look at the actual prices of cars for sale, the majority of sellers seem to be asking considerably more than £12,000 for a Seven with that engine. So it seems, either the guides are wrong (or out of date), or I'm looking in the wrong places.

I've noticed that most of the cars being advertised online are being sold by dealers, and generally have high specs, and very low mileage. Maybe that's the problem. Or maybe I've just been unlucky so far.

I'd appreciate some advice on the best places to buy a second-hand Seven, and whether my budget of £12,000 is realistic. If it's not, then unfortunately I'll probably have to postpone my plan, or abandon it altogether. Incidentally, I've ruled out buying an earlier (and generally cheaper) Crossflow engined car as I think that engine is now a little too old. I'm likely to keep the car for a long time and I'm concerned about reliability, and future parts availability.

Thanks in advance for your help.

[Caterham84]

Thanks for all the replies. You guys have been very helpful.

I'm getting the impression that I need to do some more research. The more I look into the various options available, the more complicated it gets.

[Caterham84]

TTwiggy said:

There might just be a 1.4K SS in budget on the classifieds now...

I've just had a quick look, and there are now two Supersports available within my budget - one for £12,000 and one for only £9,250!! Maybe patience is the key to this game after all.

Which of them is yours?

[Caterham84]

I've just been perusing the PH classifieds again, and I've noticed that there are several surprisingly cheap Vauxhall engined Sevens for sale. So far, I haven't really considered the Vauxhall engine option, but now I'm beginning to wonder whether I should.

Is there a reason why the Vauxhall engined cars are (relatively) cheap?

Thanks.

[Caterham84]

Thanks for all the replies.

I should have mentioned earlier that I'm not particularly concerned about the engine's power output. In fact, in some respects I'd prefer a lower powered engine, as it would presumably mean lower insurance premiums, and possibly greater engine longevity as well.

That being said, I think that less than 100bhp would be a bit iffy, so that rules out the 160 (I've ruled out the 160 for other reasons as well). However, I think the entry level 106bhp K-Series engine would be enough for me.

Also, I've done some more research into the Xflow engine, and I've now definitely ruled out that option. There are just far too many comments about owners having to do complete engine rebuilds after relatively low mileage for my liking.

[Caterham84]

carphotographer said:

I've got an ex Acadamy 7 that has only 10,200 miles on the clock, has full leather, carpets, aero screen, doors, half hood, momo steering wheel etc etc that's in your price range.

Hi, that sounds interesting. Could you give me a link to your car's details (assuming you've advertised it for sale somewhere).

Thanks

[Caterham84]

TTwiggy said:

Caterham84 said:

TTwiggy said:

There might just be a 1.4K SS in budget on the classifieds now...

I've just had a quick look, and there are now two Supersports available within my budget - one for £12,000 and one for only £9,250!! Maybe patience is the key to this game after all.

Which of them is yours?

It's the £12k blue one. All prices are open to negotiation of course!

I've just been browsing through some old threads, and I noticed that you were selling a K-series Caterham for £10,000 at the end of last year! Is this the same car?

[Caterham84]

Thanks for all the replies. I really ought to check this forum more often.

CharlesElliott said:

An ex-race car would fit your price range easily (and probably with loads of 'spares' you could sell on). Although of course I would much prefer race cars stayed as race cars!

Indeed. If you're prepared to take the risk, the ex-race/track cars appear to offer the best value for money. Most (and perhaps all) of the cars that I've seen within my budget appear to have been raced at some point.

Unfortunately, most of them would need to be significantly modified to get them to the spec I want, which of course adds to the overall expense. However, even when you take that into account, they still appear to offer the best value for money.

bertberr said:

Hi there, I was looking at 7s on here about 8-10 months ago, and the prices are noticeably higher than they were then, but with (real) inflation, and time of year that's not really that surprising. I was quite interested to note that of the first 15 cars shown (in price order), 6 of them were for sale back in October when I last looked (all trade sellers)!!!
Be patient, something will come up, and if it ticks most of the boxes then pop in an offer, worst they can say is no...

I've been monitoring the second-hand Caterham market for several weeks now, and I've noticed the same thing. The same cars keep cropping up again and again. They don't appear to sell very quickly. I think that's partly the very niche nature of the market. At any given point of time, there are very few people looking to purchase a second-hand Seven, and very few Sevens for sale. So it inevitably takes longer for a buyer to find a car than meets his requirements. However, I also think it suggests there might be a mismatch between what prospective purchasers are willing to spend on a second-hand Seven, and what sellers think their car is worth.

Also, as you point out, a disproportionate number of cars are being sold by dealers, with a markup that's considerably higher than the dealer markup that you'd typically see with more mainstream cars.