Any young Elise owners?

[The DJ 27]

As in around the age 20/21 mark? Just thinking of buying one next, but potential running costs and stupidly high insurance premiums are putting me off. Anyone care to shed any light on the Elise experience?

[w00dy]

Im looking for an S1 just now, insurance is £2-300 dearer than my 306 rallye, but this is offset by much cheaper running costs and that i now earn a decent amount.

[UH-Matt]

Im 22 (was 21 when I got the Elise). Its an S2 Sports Tourer and I pay around £1400/yr insurance. (got full no claims, protected, and 3 points).

Running costs can be a bitch if you break stuff (but coming here to get advice when that happens can save a lot of £££)

My advice: Go for it, your only young once.

[The DJ 27]

UH-Matt said:

My advice: Go for it, your only young once.

My thoughts exactly. I don't want to have to wait until I have my midlife crisis to own a proper sports car (not a hot hatch or whatever). Be a few months off yet like. Who are you insured with, if you don't mind me asking?

[w00dy]

The DJ 27 said:

UH-Matt said: My advice: Go for it, your only young once. My thoughts exactly.

and mine!

[rico]

If i can get insured for sub £1500 i'll be buying one next summer.



Edited to say i'm 20 now, 21 in October

>> Edited by rico on Sunday 8th August 22:38

[bogie]

"but this is offset by much cheaper running costs "

read the other threads re typical running costs - please dont under-estimate how things wear out on these cars..and how much they cost to keep in good nick

I cant believe an Elise is cheaper to run than a Pug 306 !

[bogie]

"but this is offset by much cheaper running costs "

read the other threads re typical running costs - please dont under-estimate how things wear out on these cars..and how much they cost to keep in good nick

I cant believe an Elise is cheaper to run than a Pug 306 !

[w00dy]

a nicer depreciation curve, 20mpg everyday in the rallye and i do ITRO 300 miles a week so MPG makes a difference(only keep cars for a year at a time), parts seem to be the same kind of money, i fit everything myself - i'm a just qualified aircraft engineer with double the pay i had last month, so cant be that bad. I will be running it as an every day car though as i already have another.

>> Edited by w00dy on Monday 9th August 07:31

[bogie]

20mpg ...eeek ! here what you are saying on depreciation...you should manage 35-40mpg easy out of a std (or even 160bhp Elise)

[Muncher]

w00dy said:

Im looking for an S1 just now, insurance is £2-300 dearer than my 306 rallye, but this is offset by much cheaper running costs and that i now earn a decent amount.

I'm also looking at an Elise, will be 21 in December come renewal time.

Although running costs are higher, the mpg will be better (ZR averages 30mpg) and the depreciation a lot less savage.

It's what student loans are for

[marcfair]

you lot must have too much cash to spend :0P

[JamesS2]

marcfair said:

you lot must have too much cash to spend :0P

Dont worry, they'll have mortgages one day.

[pley]

Not if the Gov't have their way!

[rico]

JamesS2 said:

marcfair said: you lot must have too much cash to spend :0P Dont worry, they'll have mortgages one day.

I've already got a mortgage

I'm only able to afford an Elise if i get my intended job in the city. £25k+ salary should make an Elise ok with a finance package. Additionally, i live with friends who pay a nice chunk of the monthly mortgage.

Unfortnately i'm not minted like Muncher here...

[The DJ 27]

JamesS2 said:

Dont worry, they'll have mortgages one day.

Thats why we all want one now! Just been looking at a GTM Libra. Very credible rival IMHO. Seems a bit better than your average kit car

[Muncher]

You realise that's only £1,500 per month

Will take a while to save enough for one, let alone furnishing your house

[rico]

Muncher said:

You realise that's only £1,500 per month Will take a while to save enough for one, let alone furnishing your house

finance

[S Works]

rico said:

finance

False economy - get a cheap loan at WAY lower apr and at the end you can still have some equity in the car. The only ppl who get a good deal out of finance are dealers (sorry mustard). If you pass a credit check for finance, you should be ok to borrow the same amount from someone like directline, Tesco finance or whoever.

And 25k.... whew, you'll be tight on that money mate, especially if it goes wrong. Seriously, do your calcs before you buy. 25k ain't a whole lot when you break it down! Where do you commute in from? Those city lunches, beers after work etc will soon chew into your spare wonga.

Set aside 2k a year with insurance servicing etc. and an "emergency pot" just in case if you're planning on getting a 'liz and not doing work yourself.

Oh, and double the amount you think you'll spend on fuel !

[rico]

S Works said:

[snip]S Works talking sense.... [/snip] Where do you commute in from?

eerr Westminster... don't ask!

I know i've got to do the sums. I've got a little business on the side at the moment, which might bring in a few grand.

I'd never finance through a proper dealer, obviously i'd shop around for a good loan. Preferably buy outright but i'll see what my finances are like in 12-18months time.

Thanks for the advice though