Elise or Exige (sorry…!)

[Morpeth]

Very simple question covered a few (many) times before but I’d like your opinions given my situation;

- 25 yrs old,
- 6 Yrs no claims,
- 15 mile commute (each way),
- Great roads in Northumberland and beyond,
- fancy something a bit silly before the inevitable diesel golf/Picasso,
- Looking to buy second hand (dealer/private views?)
- 10K saved up but happy to take a loan (up to another 10K, Employed full time (Architect)).
- Pretty clear in my mind that’s it would have to be a lotus,
- Would be only car,

Any advice, views, pearls of wisdom, warnings?

Thanks

[21TonyK]

I'd either say "sod it" and get a very good S1 Exige which will hold its value or push the budget and get one of the cheap Exige S's in the classifieds. Either way you wouldn't be disappointed. For 20K you are above S1 money and below S's and even though I've got one myself a NA car is not going to hold it's value.

Alternatively get a nice 111S and spend a K or two getting it up to scratch in terms of brakes, power and gearbox and save a small fortune!

[The Bandit]

Morpeth said:

Very simple question covered a few (many) times before but I’d like your opinions given my situation;

- 25 yrs old,
- 6 Yrs no claims,
- 15 mile commute (each way),
- Great roads in Northumberland and beyond,
- fancy something a bit silly before the inevitable diesel golf/Picasso,
- Looking to buy second hand (dealer/private views?)
- 10K saved up but happy to take a loan (up to another 10K, Employed full time (Architect)).
- Pretty clear in my mind that’s it would have to be a lotus,
- Would be only car,

Any advice, views, pearls of wisdom, warnings?

Thanks

£20k will get you into a nice 07MY Elise S.Its 'only' got 134bhp but its more than quick enough,and unless you're a driving God its plenty quick enough round the twistys.
1.It'll be cheaper to insure(you'll be looking at at least £1k even for this one)
2.All the mags reckon its the best recent Elise
3.Its an ideal start for someone not used to mid engine/rwd
4.You can get one with a/c as its a daily drive
5.Reliable Toyota engine,35-40mpg
6.Newer,so less to go wrong and will still have warranty.
7.Speak to a Lotus dealer and they'll tell you the same as me
Good luck and let us know how you get on

p.s.Have a look on SELOC.org for more info

Edited by The Bandit on Sunday 20th July 09:04

[Shnozz]

Unless you really really want the Exige, personally I would keep any finance to a minimum in the current climate.

The Exige is a lovely car, but if I couldnt afford to buy one outright, its not worth another year or 2's payment -v- a good S2 111S. If you add a few choice modifications to the 111S, its arguably as good. Really depends whether you want the on/off power.

I like the Toyota engine, possibly more so than the VVC k-series. Each engine has its own fan base though.

If you are using an Exige every day, you probably wouldnt want to run the standard AO48s as you will do a set every 5k, and they arent the easiest to live with in the wet. You also have very little rear visibility. Small issues, but ones to keep in mind.

[21TonyK]

Shnozz said:

AO48s as you will do a set every 5k, and they arent the easiest to live with in the wet. You also have very little rear visibility. Small issues, but ones to keep in mind.

Pah! mere trifles.. who needs wet grip and rear vision anyway!

[L888DER]

at 23 bought elise, 24 bought exige, 25 bought boxter. i would have to say EXIGE ALL THE WAY! however in the wet its a beast for the novice!

[L888DER]

either way, get pipercross and stage 2 or simular, sit back, extend right foot and smile!

[purdy84]

Why not get yourself along to a local meet, theres a few elise and exige owners (Myself included) very close to you. Anyone will be happy to answer any daft question and generally give you an idea of real running costs.

Ian

[peter450]

Have you considered the Europa?, it still has elise like handling but is tuned up to be a bit more comfortable for longer journeys, 200hp as standard with a 225hp lotus remap alos available it's pretty fast too

[_TC]

Buy my 135R. thats the best combo. Saves having too much on finance too.

Edited by _TC on Sunday 20th July 18:02

[TIPPER]

The answer really depends on what you need your only car to do.
If you don't have to do motorway miles too often the I'd say the S1 route all the way. Its the rawest of the Elises and gives you the 'purest' drive. I love mine.
A 111S is at the limit of your budget (without taking out finance) and bear in mind you need to have a reserve of about £2k if things go wrong or for sorting niggles.
Most cars now have probably had a sports exhaust fitted and some sort of induction kit and many will have had the brakes uprated and possibly the S2 Bilstein suspension fitted.
Another alternative to the 111S is to spend about £8k on an S1 and then when you want more power check out DVA power or Sabre Heads.
Dont' let mileage worry you too much - as long as everything has been done/replaced when needed then it shouldn't be a problem. Don't worry too much about the HGF stories you'll hear either. Some cars get it some don't and its not the end of the world and should cost much more the £6/700 to get fixed.
Just bear in mind that whatever varient you get it will almost certainly cost more than a hot hatch to run.
And finally, when the time comes for that diesel chugger you'll keep the Elise and get the chugger too

[bogie]

id say get a nice sorted S1 for near to £10K, pay cash, and have lots of spare cash to enjoy the car - dont worry about tyres, servicing, going on trackdays, fuel, going on holiday in it etc nad REALLY enjoy it.

I see so many people these days, stretch themselves with finance so they dont have *that* much expendable income left to enjoy the car without worrying about where the money for some new tyres are coming from at £25) a pair

I learnt this valuable lesson being a miserable 20 yr old, with a superbike on finance, when my mates had 250 and 400's they could afford...it was always me who couldnt go on that Sunday day out, or holiday abroad

Now I only own what i can pay for and still have like 25-40% of my income spare for such things, and its much better to be able to stick 20-30K miles on it, do 8 trackdays, 3000miles touring, every weekend at a race in it etc etc

so go for a nice S1 - there are loads around at that point....or if you really like the S2, theres some tidy ones for £13K ish - thats a £3K loan, so not really a big deal

Go for it !

ETA - start in the S1 for a year, save up some more cash, get the Elise bug and then decide on whichever you want - with £20K you will be able to have ANY you like and by then, you will know which one you want to try next

Edited by bogie on Sunday 20th July 11:34

[Sam_68]

Morpeth said:

...happy to take a loan (up to another 10K, Employed full time (Architect)).

Any advice, views, pearls of wisdom, warnings?

Make sure you get redundancy insurance on your loan.

Seriously, though; you won't be old enough to remember the last crash in the property market ('92), and this one is shaping up to be much, much worse. Last time round, I remember a survey by the RIBA that suggested that up to 70% of Architects were either unemployed or unable to find employment as Architects.

And since the market for used performance cars takes a bit of a tumble, too, when the economy goes funny, that £20K Elise/Exige (that you've paid another £3K for in interest, so £23K, really) is likely to turn into a £12K Elise/Exige in 18 months time when you try to sell it.

So as Tony, Schnozz and Bogie have already suggested, I'd be inclined to find something you can buy cash - you should be able to find a nice S1 111S if you wave a bundle of tenners under the seller's nose, these days - and spend the money you would have paid on the loan on maintaining and enjoying it, instead.

Edited by Sam_68 on Sunday 20th July 11:56

[Shnozz]

Sam, when did you sneak that Westy into your collection?! Lovely looking car and not one I have come across before.

[noodleman]

Also, if you buy an S1 sensibly, it's unlikely to depreciate any further.

I bought mine for 9K nearly 2 years ago (I got a good deal in winter mind you) and I'm pretty sure it's still worth 8.5K+.

This way you can try the Elise experience and if you decide to change later you'll have enough experience to try the other variants and know for yourself if they offer more for you than the S1.

[SeanyD]

If you're still unsure Morpeth, drop me a PM, there's regular meet-ups in your area (Tyneside/Teesside) of Elise/Exige owners, theres one coming up very (very) soon.

If you wanted to come along as a passenger to get a feel for the cars, I'm more than happy to do this, and I'm sure others in our clan would be equally willing.

[chris7676]

Some good advice regarding the economic sitation. I wouldn't myself by a car I cannot afford, especailly now, but hey I'm a bit different;) Also wound not assume that Exiges will hold their value as they have recently, surely an Elise has less room to fall. You should be able to get a good one for £10k (including or preferably 111S). I have just done that.

[Sam_68]

Shnozz said:

Sam, when did you sneak that Westy into your collection?! Lovely looking car and not one I have come across before.

I've had it about a year. They're pretty thin on the ground; only 6 were built and I only know one definite (and another possible) in this country. Two are currently for sale in Japan for silly money.

I haven't quite decided whether I'm going to keep it, yet - it's really too extreme for road use as it is and I only get limited opportunity to do track days at the moment. I don't know whether to develop it to make it more friendly for the road (more compliant suspension and maybe replace the Hewland LD200 with a sequential JFR200), or whether to sell it to Japan for a huge profit.

[kambites]

Get a good S2 111S. Should be able to find one for about 14k if you don't mind a few miles on it.

Edited by kambites on Tuesday 22 July 13:04

[DamienCBR]

L888DER said:

at 23 bought elise, 24 bought exige, 25 bought boxter. i would have to say EXIGE ALL THE WAY! however in the wet its a beast for the novice!

Your Exige was lovely, i remember following you on a run when i had the Tiger.

D