Elise S2 To Keep Long Term
Discussion
I had a thread over in the general discussion about me buying something around the £10-15k mark as a long term keep for fun (primarily) but also to ensure my money didn't disappear in depreciation. A slight increase over the years would be nice.
I've looked around for an S1 but there are very few about that meet my criteria (low owners, low mileage, immaculate condition, not yellow). Anyways I've started looking at K series S2s instead. What's the thoughts on future S2 values? Would they be a solid buy? I've seen an immaculate 2 owner 2003 Sports Tourer I'm going to look at tomorrow.
I've looked around for an S1 but there are very few about that meet my criteria (low owners, low mileage, immaculate condition, not yellow). Anyways I've started looking at K series S2s instead. What's the thoughts on future S2 values? Would they be a solid buy? I've seen an immaculate 2 owner 2003 Sports Tourer I'm going to look at tomorrow.
The market for all Elise variables older than a couple of years is fairly stable right now so whatever you buy (especially in the £10-15k range) is unlikely to depreciate a lot more. I bought my 111R last July and was told a few weeks ago that I'd get back what I paid for it if I were to sell it today. Since I didn't buy it as an investment, I am fully prepared to lose a couple of £k when I come to sell it and anything less than that is a bonus in my eyes.
Having said that, you're buying just as the weather is turning nice which probably isn't the best time to get a good deal (neither was July
). Buy whichever model you like the look of and just enjoy it is my advice 
Having said that, you're buying just as the weather is turning nice which probably isn't the best time to get a good deal (neither was July
). Buy whichever model you like the look of and just enjoy it is my advice I would think the 135r is the pick of the K-S2s in your price bracket.
It may be difficult finding one though!
In the summer the prices do go up, but there is more choice... you may even find an S1
Edited to add: someone is about to put a 98 titanium S1 up for sale on SELOC, low miles, low amount of owners.
It may be difficult finding one though!
In the summer the prices do go up, but there is more choice... you may even find an S1
Edited to add: someone is about to put a 98 titanium S1 up for sale on SELOC, low miles, low amount of owners.
Edited by Tickle on Friday 17th April 12:16
Tickle said:
I would think the 135r is the pick of the K-S2s in your price bracket.
It may be difficult finding one though!
In the summer the prices do go up, but there is more choice... you may even find an S1
Edited to add: someone is about to put a 98 titanium S1 up for sale on SELOC, low miles, low amount of owners.
Sounds positive. Cheers for the heads up I'll keep an eye out for it. It may be difficult finding one though!
In the summer the prices do go up, but there is more choice... you may even find an S1
Edited to add: someone is about to put a 98 titanium S1 up for sale on SELOC, low miles, low amount of owners.
Edited by Tickle on Friday 17th April 12:16
I bought my ’07 111R four years ago from a dealer for £21k. A few months ago the same dealer was advertising an ’06 111R with similar mileage to mine (and a hardtop, which admittedly mine doesn’t have) for £20k. I know I wouldn’t get that for mine but it does show how slowly they depreciate.
Wise words about maintenance/"restoration" costs taking the place of depreciation, especially if you buy an S1 in need of a bit of TLC like mine lol. Buy with your head!
You might find you want to drive it lots and pile miles on too.
Prices seem to have jumped a bit this year - has the speculation craze finally come to the
Lotus world?
You might find you want to drive it lots and pile miles on too.
Prices seem to have jumped a bit this year - has the speculation craze finally come to the
Lotus world?
Edited by moribund on Friday 17th April 21:54
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