To buy used and in great condition, or to buy a semi-wrecked one and fix it?

[fungusboy]

OK, so here is the idea- i want an Elise, but i wana get the best bang for my buck. So, which would cost less in the end, to buy a used Elise in great condition for around $25,000, or to buy something like this

http://cgi.ebay.com/ebaymotors/2006-LOTUS-ELISE_W0QQitemZ280360621795QQcmdZViewItemQQptZUS_C ars_Trucks?hash=item4146cb96e3&_trksid=p4506.c0.m2 45&_trkparms=65%3A2|39%3A1|240%3A1318

and pay a shop to fix it to be like new? or should in just go for broke and buy a brand new one from the dealer for $40,000 or what ever the hell the dealer charges?

[fungusboy]

i just realized i put this thread in the Exige forums instead of the Elise one. my bad -_-

[TTZip]

This has already been discussed.

Looking at damaged Elise

In other words don't do it. Simply save up money until you can buy one that you can actually use unless you have some major skills with doing it yourself and even then it more than likely will not be worth it.

-Alex-

[...m...]

...it'll generally cost more to fix up a damaged car than to buy a car in serviceable condition, and that's presuming there's no chassis damage, which can be outright irreparable...

...it's only worth doing if making your own substantial repairs and modifications are as much part of the fun to you as driving the car, not unlike a restoration project...

[kestrel74]

Here we go again.........

[lotusforsale]

I say go ahead and buy the semi-wrecked one and fix it up. Keep us posted on your project.

[kestrel74]

Originally Posted by lotusforsale

I say go ahead and buy the semi-wrecked one and fix it up. Keep us posted on your project.

[MyFutureSelfnMe]

I say it really comes down to your skill level and motivation. There is one individual on this forum who I'm pretty sure finished his track car for under 10k, including an initial $5900 investment in the salvage vehicle. He basically made his own front clam of his own design. I have a feeling for a couple more k he could have gotten it street legal but he seems to be more interested in bodywork.

I remember a couple years ago two Germans transferred every single part from a frame-damaged Elise to a new chassis in one weekend.

[glacialmoraine]

Problem with buying wrecked, at least on e-bay, is people that don't understand how expensive a lotus is to fix will bid the price up past what it is worth. Generally this seems to be true elsewhere as well. People can't grasp what all it takes to get one of these going.

So, if you want a salvage vehicle, don't think it will be cheap to fix. Calculate what everything needed will cost and add it to the asking price, you will likely find the outlay is the same or a couple thousand less than a good one. Generally a rebuilt car has crappy resale unless you lie, so the un-wrecked one is worth it for that alone, unless the price difference is huge.

Basically, if you are asking this question, you probably don't have enough knowledge to get a salvage elise/exige and come out ahead.

[aschen]

the problem with a salvaged lotus as I see it is: The really expensive parts are damaged for sure. The motor and drive train are cheap in relative terms compared to the body work. Of course any car with chassis damage should be recyceled..

[ckugel]

I think you should forget the wrecked ones for the reasons others have posted. You may be able to find a high mileage '05 with minor flaws for 25K but that sounds a little low. Probably more like $29K for one in great condition with less than, say, 20K miles. It really comes down to what is important to you. Do you care if the car is high mileage? Do you care about knowing the history of the car (I have been doing a little digging and it seems that first owner cars command a few $K premium to some buyers). If you are willing to make concessions in these areas, are not too picky about color/options and are very patient you may find what you want in your price range though.

[TimMullen]

Originally Posted by fungusboy

or to buy something like this <...> and pay a shop to fix it to be like new?

Everyone seems to have missed the part I bolded...

A damaged Elise only makes sense if you can do all the work yourself and have lots of time to do it.

If you have to pay someone to do the work, it will be too expensive - that's why it's being "junked" in the first place, because the cost to repair it is going to be more than the car will be worth.


Save up for a nice clean used Elise, or even a new one...

[MyFutureSelfnMe]

It's always possible to do things on the cheap. It's hard to do things on the cheap if you expect to restore the car to showroom perfection using only OEM parts.

Edit: Thanks Tim. That makes it more cut and dried.

[chapster5]

.

[lotusforsale]

I still say buy a wrecked one and fix it up. It will be so much more satisfying....even if you pay someone else to do the work. We're all behind you! Post pix as the project progresses!

[fungusboy]

Originally Posted by chapster5

Attachment 124891
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that about sums it up. so totally forget a fixer upper. check and check. so now the question is to buy from a privet seller or a dealer? and there any useful advantages from buying from a dealer?

[TTZip]

Originally Posted by fungusboy

that about sums it up. so totally forget a fixer upper. check and check. so now the question is to buy from a privet seller or a dealer? and there any useful advantages from buying from a dealer?

Yea if you want to spend more money on a car that they have no history on. Get yourself a nice single owner car. It will be easy to tell how the car was taken care of based on the owner. Good luck.

-Alex-