Monday 13th February 2017

British-built track specials: Market Watch

Your essential guide to buying a lightweight British sports car for the coming track day season

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Buying a stripped-out, hard-edged British sports car is a proposition that’s doubtless tickled all of our fancies at some point. Yes, we too have experienced the pangs of longing when hearing from some lucky owner with the motoring equivalent of a spaceframe, a tub and four wheels stashed away in the garage, when they tell of days they get their toy out and take it for a spirited thrash across the moors or a track day.

Problem is, owning one of these cars needs cash. Not a lot of it, but certainly a sum that isn’t insignificant for many of us. Brand new and fully built, for example, a mid-range Caterham will cost upwards of £25,000 – a sum that isn’t exactly pocket change for most of us – while an Ariel Atom with a few options on it can easily double that.

The idea of buying one secondhand appeals, therefore, and more so than ever before. Where once these lightweight specials were often a bit of a crapshoot in terms of their build quality and reliability as a secondhand buy, today the vast majority have been built to extremely high standards. And that means a used example can be just as desirable as a new one.

The problem is, that affects prices, too. The limited market for cars such as these might have you believing that secondhand prices would be low – but the opposite is true. In fact, because demand often outstrips supply, these kinds of cars often hold their value very well – and in some cases, where lengthy build times lead to a long waiting list, they can even be pricier, as the appeal of ‘getting it now’ takes precedence.

So what exactly is the state of play with these cars at the moment, and are you making a significant saving by buying used? Well, that’s what we’re here to work out, though with a quick caveat first: in such a scattergun marketplace, values will vary wildly depending on age, condition and specification, so if you are buying, do so with your eyes open – not just because something looks cheap.

It’s worth noting, too, that there’s a plethora of stripped-out lightweights out there. Westfields, for example, offer a great cut-price alternative to Caterhams, and come in a range of flavours to suit every buyer, while at the other end of the scale, the Elemental RP1 might sate the desires of those put off by the high prices now being asked for BAC Monos. In other words, with so many options out there, it’s worth exploring them all before you plump for one in particular.

We’ve gathered together five of our favourites – and the cars we reckon most buyers after this kind of car will resort to – to give you a flavour of what’s happening with each out on the used market.

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Introduction
Caterham Seven
Zenos E10
Radical SR3
Ariel Atom
BAC Mono

[lukeyman]

Can't afford a £25k Caterham? Well, buy a £175k Mono instead...

[anonymous-user]

Unless the company is rescued I can't imagine prices of the E10 will do anything other than tank. It's all very well saying it's reliable and most of the power train etc is Ford, but what about those recycled carbon fibre body panels, the LCD displays and the tub? Are components like suspension wishbones bespoke or parts bin?

Personally I wouldn't want to drop £25k+ on a car where the availability of key parts had a massive question mark over them. It's not like there's a ready supply of cars out there being broken for parts.

[TrotCanterGallopCharge]

Or buy the auction cheapee, strip it out, & do it up as funds/time/space allow.

A westfield/similar must be cheapest/most fun way in from the start & give a high % of the thrills of the more expensive options.

I like seeing a proper mix on trackdays, just for variety alone.

Even the Hire Car Toyota Yaris or somesuch that manged to get rolled by over enthusiastic driver...

[coppice]

Like many , I have driven Sevens on road and track , as they are good at both, if a little lacking in the NVH department . But the idea of spending 6 figures on some of the track only stuff stuff seems bonkers when you can buy a single seater (eg Jedi with bike engine , old F Renault, Formula Ford ) which costs far less and goes much, much quicker .

[s2000db]

Yes exactly, why buy a Mac 675 for track work, when a sub £50k F4 car will go round a lot quicker??

[baronbennyt]

I've taken the plunge by ordering another British-built track special: a road-spec Lotus 3-Eleven through Bell & Colvill in Surrey. When I came across the 3-Eleven in the flesh at the Geneva Motor Show last year, I was hooked. I'm a track day enthusiast who regularly enjoys circuit days across the country as well as travelling further afield for my fix, including Spa-Francorchamps and the Nurburgring. But not having experienced a truly dedicated track day weapon, which could also be driven to and from the circuit (at a push), I decided the Lotus was the special one to indulge my passion. Now, I know the price tag is very high but I'm hoping it won't depreciate like an anvil off a ten storey building. Hell, it might even hold its value if pre-owned 2-Elevens are anything to go by. It's also nice to buy British for once instead of forking over my hard earned to Stuttgart or Munich. Foolhardy or inspired? I'll find out soon enough when mine arrives in March...

Edited by baronbennyt on Sunday 12th February 13:22

Edited by baronbennyt on Sunday 12th February 15:09

[Rich_W]

Or buy a Superbike for £10K and fit some race slicks.

Much MUCH cheaper and comparable for thrills.

http://www.motorcyclenews.com/bikes-for-sale/yamah...

http://www.motorcyclenews.com/bikes-for-sale/bmw/s...

http://www.motorcyclenews.com/bikes-for-sale/honda...

You're welcome

[silverthorn2151]

Oh I could spectacularly fall off a much cheaper and slower bike than those.

It was fabulous having an SR3 at track days and a mix of machines makes for a much better time for all in my view. It's impossible to describe just how horrible it would be to drive one on the road though.

I do find myself tempted by the Atoms though.

[cib24]

baronbennyt said:

I've taken the plunge by ordering another British-built track special: a road-spec Lotus 3-Eleven through Bell & Colvill in Surrey. When I came across the 3-Eleven in the flesh at the Geneva Motor Show last year, I was hooked. I'm a track day enthusiast who regularly enjoys circuit days across the country as well as travelling further afield for my fix, including Spa-Francorchamps and the Nurburgring. But not having experienced a truly dedicated track day weapon, which could also be driven to and from the circuit (at a push), I decided the Lotus was the special one to indulge my passion. Now, I know price tag is very high but I'm hoping it won't depreciate like an anvil off a ten storey building. Hell, it might even hold its value if pre-owned 2-Elevens are anything to go by. It's also nice to buy British for once instead of forking over my hard earned to Stuttgart or Munich. Foolhardy or inspired? I'll find out soon enough when mine arrives in March...

Edited by baronbennyt on Sunday 12th February 13:22

Yes! This is the one to own out of all of the track weapons.

[Andy665]

Typically elitist article that is irrelevant to most people.

A car like this is a "toy" and needs to be justified. I'm currently looking at Westfields, mainly for road use but will be used on track may be 3-4 times per year. My budget is not unreasonable for a "toy" but would not get closer to the cheapest car here.

many Westfields (and Tiger Avons, Raws etc) are built to very high standards and whilst not being as capable as the much more expensive machinery you look at will still have abilities beyond the dreams of most of us

[big_rob_sydney]

What is the reason for the trackday though?

Is it to compete? Is it just an internal thing to see how fast you can go around? Is it to see how fast your road car can actually go?

You could get a simple Formula Ford for not a lot of money, and compete. If it was outright speed, you could rent a Formula 1 car a few times a year, or rent a lower spec Formula car for many more times a year, or potentially buy an old Formula that will go much, much faster than any £25,000 car.

At the budget of 25k, I'm not sure what road car you can get that could be put around a track metronomically. Sure, you might get the odd Time Attack machine that may be quick for a few laps. But when you factor in the cost of tyres and brakes for a relatively heavy vehicle (compared to a lightweight Formula machine), then I dont see how the road car makes sense. Aside from the pure speed thing, how do you live with such a car (as your only car, potentially) and take your family out, go shopping, takes bags to the airport, etc etc etc?

[cib24]

People have the right to use their disposable income as they please. People that can afford a dedicated track car are using them to fulfil their passion and hobby just like others whom will spend tons on the latest bicylce and licra to ride behind a London bus for a 5km ride in the morning, or how others will spend tons on skiing kit or the latest 70" OLED TV and several thousands on high end home theatre setups, or spend thousands on outlandish vacations staying at the Four Seasons.

It's a hobby just like any other and some people are able to afford doing it properly. What's wrong with that? No need to be jealous.

This website caters to all motoring enthusiasts regardless of your budget.

Edited by cib24 on Sunday 12th February 15:56

[Lofty999]

I tracked my 111s Elise and m12 noble,and didn't enjoy driving either as much as a 1.6 fiesta.Had more time to think in the fiesta and wasn't scared that it was going to end in tears!

[Andy665]

cib24 said:

People have the right to use their disposable income as they please. People that can afford a dedicated track car are using them to fulfil their passion and hobby just like others will spend tons on the latest bicylce and licra to ride behind a London bus for a 5km ride in the morning, or how others will spend tons on skiing kit or the latest 70" OLED TV and home theatre setup.

It's a hobby just like any other and some people are able to afford doing it properly. What's wrong with that? No need to be jealous.

This website caters to all motoring enthusiasts regardless of your budget.

The above perfectly sums up why I rarely visit this forum anymore - readers cars is about my limit

[405dogvan]

I've often thought the main reason Caterhams/Ariels and the like keep their value is that the manufacturer/dealer network is very close-knit and can afford to sit-on used-cars which are priced at cheeky levels until the next mug arrives...

This obviously doesn't work if the manufacturer tanks - although plenty of marques have continued to be 'buoyed up' by dealers after 'death' as they wring every-last-quid out of owners - you know which marques/dealers I'm talking about, I'm sure.

The main issue you'll have moving any car like this is that it might take a while to sell a car once you've done with it - trade-ins are further south of showrooms prices than with regular cars (reflecting the months/years the dealer will be looking at your car) and I suspect quite a few people sell privately at somewhat less than you'd think just to get rid of the thing so they can buy the other thing...

This isn't reserved to track cars either - the sheer number of supercars in 'specialist dealers' suggest to me they're either on-consignment or that cars are trading for rather less than the ambitious screen prices (there are several high-end cars which certain dealers have been trying to sell for YEARS - even in the so-called bubble)

[Tickle]

big_rob_sydney said:

Aside from the pure speed thing, how do you live with such a car (as your only car, potentially) and take your family out, go shopping, takes bags to the airport, etc etc etc?

Most will be run as second cars, if you can fund £25k upfront for a caterham, westie etc you will be going into this market with your eyes wide open. For £25k you could get a track car and daily no problem at all.

[Vee12V]

A 'British-built track specials' piece without a Lotus?

[Robert-nszl1]

405dogvan said:

I've often thought the main reason Caterhams/Ariels and the like keep their value is that the manufacturer/dealer network is very close-knit and can afford to sit-on used-cars which are priced at cheeky levels until the next mug arrives...

This obviously doesn't work if the manufacturer tanks - although plenty of marques have continued to be 'buoyed up' by dealers after 'death' as they wring every-last-quid out of owners - you know which marques/dealers I'm talking about, I'm sure.

The main issue you'll have moving any car like this is that it might take a while to sell a car once you've done with it - trade-ins are further south of showrooms prices than with regular cars (reflecting the months/years the dealer will be looking at your car) and I suspect quite a few people sell privately at somewhat less than you'd think just to get rid of the thing so they can buy the other thing...

This isn't reserved to track cars either - the sheer number of supercars in 'specialist dealers' suggest to me they're either on-consignment or that cars are trading for rather less than the ambitious screen prices (there are several high-end cars which certain dealers have been trying to sell for YEARS - even in the so-called bubble)

Not sure this is completely true. Ariels are just so rare I suspect they trade pretty easily but I'd be interested in others experience. Where there is some truth is the ambitious pricing of certain cars with track day pretensions. Look how many Cayman GT4s are on the market all comfortably above list. Great cars, but no shortage!

[anonymous-user]

Andy665 said:

cib24 said:

People have the right to use their disposable income as they please. People that can afford a dedicated track car are using them to fulfil their passion and hobby just like others will spend tons on the latest bicylce and licra to ride behind a London bus for a 5km ride in the morning, or how others will spend tons on skiing kit or the latest 70" OLED TV and home theatre setup.

It's a hobby just like any other and some people are able to afford doing it properly. What's wrong with that? No need to be jealous.

This website caters to all motoring enthusiasts regardless of your budget.

The above perfectly sums up why I rarely visit this forum anymore - readers cars is about my limit

Other than the 'doing it properly' line (how on earth do you define that?), it seemed pretty reasonable to me.

Which cars do you read about in the 'readers cars' forum? Everyday porridge, exotics, 'toys', everything?
Your earlier post said that toys need to be justified - I think the whole point of toys is that you can't reasonably justify them. You don't 'need' to do 3 or 4 track days a year, so how are you justifying the Westfield?

[Dan Trent]

Vee12V said:

A 'British-built track specials' piece without a Lotus?

Reasonable point but, given the context, Lotus is a 'mainstream road car manufacturer' all things relative and the intention was to focus on the specialist end of the market. Not to say Lotus doesn't build cars that fit the bill or description of course. There are plenty of other notable exceptions too but we chose our shortlist based on the fact they kind of covered the main variations on the theme.

Cheers,

Dan