The £7k S1 Elise

[snorkel sucker]

Currently in the process of doing the right thing and chopping in my current car and going for an eco-warrior-cheap-as-chips company car for the daily slog and something for the weekend

Current shortlist is either another S2000 or perhaps an S1 elise. Car will be a long term ownership proposition and budget is £7k. I realise this is the low end of the price range for an elise, but a browse in the classifieds suggests it can be done, with a couple of examples standing out:

http://www.pistonheads.com/sales/2602676.htm

http://www.pistonheads.com/sales/2587868.htm

Is such a purchase more than likely to end in tears? Anybody on here dabbled at this price range, and would be happy to share their experiences?

The car would be used for weekends, trackdays and general enjoyment and will more than likely only do a few thousand miles a year.

Thanks.

[DanL]

Might be worth looking at VX220s at that price point? Just a thought... You will be able to get an undamaged one, and it'll be newer than the S1 Elise.

A friend sold his blue 2002 one for around £7k earlier this month.

[snorkel sucker]

I certainly wouldn't discount a VX220. Have been a passenger in both a turbo and NA and was very impressed. Never been in an elise though

[DanL]

They're similar but different - the S1 Elise will certainly feel a lot rawer than the VX220, which could well be a good thing in a weekend toy!

[otolith]

From a similar thread;

http://www.pistonheads.com/gassing/topic.asp?t=738...

"Pretty well regardless of what you pay up front a good S1 Elise will cost £10k"

[Strangely Brown]

A rule of thumb is that an S1 Elise costs around 10K, regardless of purchase price.

ETA: Yes, that ^^^ up there.

[ToadHall]

I brought my s1 for 7k, it has needed a new head gasket, bushes and steering rack so far during my ownership

[snorkel sucker]

Thanks for the link to the other thread - a lot of sense spoken in there! It certainly compounds the theory that £10k is what you need to spend on one. Of course, i'll investigate as to whether some/most/all of the items noted have been done recently on any car I look at, but your responses have certainly given me plenty to think about, so thanks.

[harryowl]

Strangely Brown said:

A rule of thumb is that an S1 Elise costs around 10K, regardless of purchase price.

ETA: Yes, that ^^^ up there.

My dad bought his for £8500 3 years ago and hasn't much on it all.

[bernie_eccle]

harryowl said:

My dad bought his for £8500 3 years ago and hasn't much on it all.

Yep and it is probably worth close to £10k now

[pthelazyjourno]

I bought mine for £8400, with a huge list of work having been done to it. Dampers, exhaust, belts, things like that. Pretty much the stuff I was looking to avoid paying again.

Since I've had the car, I've spent a few grand - I'm probably at £11k all-in including the cost of the car - on getting it in tip-top condition, and it's still not there yet. New aluminium radiator after the last one started leaking, new front ball joints after they started making noises, new track rod ends, new toe links after they started squeaking, new tyres after a dodgy geo wore out the old ones in a few thousand miles etc. Now the clutch release bearing has gone, and the rear ball joints could also do with a refurb.

It all adds up. Mine has been brilliant in terms of reliability - it's always started on the dot, every day, and never let me down - they're just getting to the age where wear and tear sets in.

Either way, I think you could well get a car for the right side of £8k, and you could get lucky for several years. It depends how you drive it for one, and if you want to keep on top of all the mechanical issues. That's the thing about the Elise though - you REALLY do notice when any of the suspension bits are changed, or new tyres are added, or you sort out the alignment - so much so that it's near impossible to ignore if you want to experience the car as it should be.

[Mark B]

I would love to agree that an S1 Elise is worth £10k, but the fact is it isn't, a good one is really about £7.5k upwards. I know of several in the £8 - 9k bracket that haven't sold and there is no reason why not, the cars are very good, well cared for examples.

My only word of warning to the OP is that they can cost a bit if they haven't been cared for. On the other hand, if enthusiast owned and looked after they should be worth every pen.

I wouldn't value mine much above £10k and that's with fully rebuilt suspension, Duratec 2.0L fitted, very tidy interior, all alloy radiator, Rota alloys, new tyres, etc etc. If it is more, then great, but I very much doubt it.

[NDT]

Mark B said:

I would love to agree that an S1 Elise is worth £10k, but the fact is it isn't, a good one is really about £7.5k upwards. I know of several in the £8 - 9k bracket that haven't sold and there is no reason why not, the cars are very good, well cared for examples.

My only word of warning to the OP is that they can cost a bit if they haven't been cared for. On the other hand, if enthusiast owned and looked after they should be worth every pen.

I wouldn't value mine much above £10k and that's with fully rebuilt suspension, Duratec 2.0L fitted, very tidy interior, all alloy radiator, Rota alloys, new tyres, etc etc. If it is more, then great, but I very much doubt it.

Mark, I agree with most of what you've posted, but whenever you feel like selling yours for 10k then please give me a call!!!!
Nick

[icepop]

Blimey, are Mk1's selling for that much, Is it because they are Mk1's ? I was thinking of pitching my '53 Mk2 type 72, 23,000 miles, at around 9-10k. I'll have to think again.