Reasons to purchase a 2005 Elise? - LotusTalk - The Lotus Cars Community
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post #1 of 46 (permalink) Old 02-27-2016, 04:11 PM Thread Starter
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Post Reasons to purchase a 2005 Elise?

so i'm 21.

have a 2015 scion rsS. due = to value.

am super interested in getting a Lotus Elise.
there are only 10 people that have them in ~50 mile radius. so a very rare car around here.
live in tennessee

here is the catch though. i still live with my parents, and im a student about to go to start my last term.

parents have a say in if i get a different car, because while im in school they make the payments...i work a lot when vacation/time out starts up.

can anyone help make a fairly elaborate argument as to why an Elise would be more beneficial than per se my FRS

tires arent expensive ~$150-250/ea and last typical duration
clutch ~1k-2k every 30-60k miles? not very often atleast
oil ~$40 if done myself (i know some guys thatd do this for some beers)
maintenance ~$300 typical maintenance from toyota?
brakes ~250-350? car is light so not much wear im sure?
insurance ~$80-100/mo cheaper got a quote from allstate car vs car
fuel uses 89 octance mid tier fuel around here, so cheaper even

Lotus value is on the rise, if not stable?

if this is in the wrong section please divert it to said location.
and if i have any misconceptions please notify me!
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post #2 of 46 (permalink) Old 02-27-2016, 04:27 PM
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Quote:
Originally Posted by Axent View Post
so i'm 21.

have a 2015 scion rsS. due = to value.

am super interested in getting a Lotus Elise.
there are only 10 people that have them in ~50 mile radius. so a very rare car around here.
live in tennessee

here is the catch though. i still live with my parents, and im a student about to go to start my last term.

parents have a say in if i get a different car, because while im in school they make the payments...i work a lot when vacation/time out starts up.

can anyone help make a fairly elaborate argument as to why an Elise would be more beneficial than per se my FRS

tires arent expensive ~$150-250/ea and last typical duration
clutch ~1k-2k every 30-60k miles? not very often atleast
oil ~$40 if done myself (i know some guys thatd do this for some beers)
maintenance ~$300 typical maintenance from toyota?
brakes ~250-350? car is light so not much wear im sure?
insurance ~$80-100/mo cheaper got a quote from allstate car vs car
fuel uses 89 octance mid tier fuel around here, so cheaper even

Lotus value is on the rise, if not stable?

if this is in the wrong section please divert it to said location.
and if i have any misconceptions please notify me!
The only things I would consider draw backs is practicality, Insurance and crash safety higher labor and parts cost. But somehow you got a cheaper insurance quote. Go for it!

Last edited by Jos3torr3s; 02-27-2016 at 04:35 PM.
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post #3 of 46 (permalink) Old 02-27-2016, 04:36 PM
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The Lotus is great, but an apt is better. I agree with you that a Lotus can be a good investment, but like that kayak commercial, it's a one (accident) and done type of car. I strongly suggest you focus on getting your own place as a priority. The Elise makes a great 2nd car, not so much an only car.

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post #4 of 46 (permalink) Old 02-27-2016, 04:38 PM
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There is no way this is a good idea, your car will NOT hold its value if you are driving it in and around a college campus due to the abuse it will get. And these cars are 10 years old now, even though the drivetrain is good, other things will break, ball joints, rod ends, radiators, coolant tanks, shifters, shifter cables, many of these things are quite expensive, and more important if it is your only car very hard to get fast.

I would strongly reconsider in your case but I was 21 once and I wouldn't have listened so *shrug*
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post #5 of 46 (permalink) Old 02-27-2016, 04:44 PM
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It's never going to make sense but that does not mean don't do it.

You will be facing plenty of similar decisions at school mostly involving the women.

What sort of stories do you want to remember when you are 45?

I wanted a Lotus desperately at your age. Looking back it's definitely best I did not get any sports cars until I was over 50. I did not like my Dad having it that way at the time, but spoke about it at his funeral. I was not ready then. Few of us are.

Anyone can make something complicated. It takes genius to make it simple. Einstein.
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post #6 of 46 (permalink) Old 02-27-2016, 04:55 PM
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Cheap, sporty throw-away cars are a much better idea for your situation.
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post #7 of 46 (permalink) Old 02-27-2016, 05:00 PM
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Quote:
Originally Posted by me73 View Post
Cheap, sporty throw-away cars are a much better idea for your situation.
This x1000.

I know guys here daily drive their Eliges but honestly it's a very delicate car. One bump or minor crunch and it's totaled even for minor damage.

The Elise is a track car for the street. What you need is a street car for the track. If you want cheap fun and a car that's somewhat rare/unique (at least moreso than a Scion) what about a Boxster S? They are cheap currently and much easier to daily drive.
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post #8 of 46 (permalink) Old 02-27-2016, 05:06 PM Thread Starter
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well i already have a scion frs... so im in the same price range, or very close at least

and the insurance is cheaper.

i dont want to downgrade to a cheaper car.
its not going to be abused, im going to a private tech school with ~ 10 students

i have spare cars if needed. i can borrow any at will f150/ mini cooper s/ Lincoln mkc/ f350 dually....

its basically only going to be the same payment wise if i get rid of my frs and get the elise as my only
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post #9 of 46 (permalink) Old 02-27-2016, 05:13 PM
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You just got a 2015 FRS, that's a awesome car to be able to drive at 21. Why don't you just enjoy that for a couple years. Are you making payments on the FRS or is it a lease?

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post #10 of 46 (permalink) Old 02-27-2016, 05:23 PM Thread Starter
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You just got a 2015 FRS, that's a awesome car to be able to drive at 21. Why don't you just enjoy that for a couple years. Are you making payments on the FRS or is it a lease?
making payments 500/mo insurance is biting me at 285/mo
elise insurance would be 130-160/mo what ive been quoted
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post #11 of 46 (permalink) Old 02-27-2016, 05:24 PM Thread Starter
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This x1000.

I know guys here daily drive their Eliges but honestly it's a very delicate car. One bump or minor crunch and it's totaled even for minor damage.

The Elise is a track car for the street. What you need is a street car for the track. If you want cheap fun and a car that's somewhat rare/unique (at least moreso than a Scion) what about a Boxster S? They are cheap currently and much easier to daily drive.
but, they just lack that appeal of style, rarity, and cornering
the cornering is good, but elise cornering is best as far as i know

and i would also like to add. the road i drive daily is a 10 mile stretch of no police, and ~50-70 curves(havent counted specifically) and a 10 mile stretch of straight hwy. i have to use NO city roads period... unless i choose to.
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post #12 of 46 (permalink) Old 02-27-2016, 06:08 PM
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Keep your FRS.
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post #13 of 46 (permalink) Old 02-27-2016, 06:41 PM
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Get out of debt and pay things in cash.
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post #14 of 46 (permalink) Old 02-27-2016, 08:26 PM
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so i'm 21.

can anyone help make a fairly elaborate argument as to why an Elise would be more beneficial than per se my FRS

Lotus value is on the rise, if not stable?
An Elise more beneficial than an FRS? There isn't one. I literally can't think of one. I believe that Elise values are in a slow rise. However, there are faster appreciating cars out there. I owned an S2000 before my Elise. I put 2000 miles on it and sold it for more than I bought it. I'd look at an S2000.

Quote:
Originally Posted by me73 View Post
Cheap, sporty throw-away cars are a much better idea for your situation.
This is good advice.

Quote:
Originally Posted by Axent View Post
making payments 500/mo insurance is biting me at 285/mo
elise insurance would be 130-160/mo what ive been quoted
The Elise is cheaper to insure? Or it's 130-160 MORE per month?

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Keep your FRS.
Agreed.

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Originally Posted by Spartacus View Post
Get out of debt and pay things in cash.
More great advice
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post #15 of 46 (permalink) Old 02-27-2016, 10:49 PM
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I'm an outlier here in the Lotus community because I was in a similar situation as you are now.

I too am 21 and this past summer upgraded an RX-8 to an Elise. I am at a downtown university in Chicago so the Elise is stored from about October to April. Main selling point to sway my parents having been in a similar situation as you are now was to go past the financial cost/benefit and show them unquantifiable benefits. Both my dad and mom have loved their MR-2 as a summer cruiser so I presented the Elise as a continuation of their basic interest in manual cars that are fun on nice days. Fast forward to the end of summer when I went back to school, my mom kept the Elise out of storage for an extra two months while she drove it to and from work any day it wasn't raining because she enjoyed it so much too.

Even though I did all the research, was responsible for the purchase, and it is referred to as my car, allowing them to be part of the ownership and using it as a shared interest we can bond over I think was more important than the small financial differences between the costs of owning the RX-8 vs the Elise.

... Having said all this... my car never goes near a college campus, actually downtown in Chicago, nor out in the rain. Because I only need a car for summer months and have other transportation options during bad weather, it is not getting anywhere close to being abused and I am able to avoid dangerous driving areas/situations. If this will be your primary car year-round and near a college campus then you are taking a large risk financially before you are able to cover any possibly losses.

In my opinion, you should keep your (almost) brand new FRS. The practicality difference is enormous and the warranty is a great asset to have. If I had a car on pretty much any college campus, I definitely wouldn't want it to be an Elise no matter which campus I was on. Lots of bad decisions are made on college campuses and a dream car should not be susceptible to these decisions.

At the end of the day you make the decision, not myself or other forum members. Just make sure you realistically analyze your situation, educate yourself as much as possible about the risks and rewards, and ultimately make a decision you won't regret in the long term for short term fun.
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post #16 of 46 (permalink) Old 02-28-2016, 02:50 AM
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post #17 of 46 (permalink) Old 02-28-2016, 03:46 AM
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Have to agree with the consensus here. You are very fortunate to have such a nice (and essentially new) car at your age. Obviously money doesn't seem to be a factor if you're driving a $500/month payment, not to mention the insurance (Jesus, at my age I could be driving a brand new Maserati for those kind of figures!)

Anyhow, keep the FRS and hang tight on the Elise. As was mentioned here, a lot of bad decisions are made on college campuses and you don't want to subject an Elise to those potential consequences. I know it's hard to think now, but there will always be enough Elises out there in a few years once you're either an upperclassmen or are graduated and on your own and have one as a second car.
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post #18 of 46 (permalink) Old 02-28-2016, 09:12 AM
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I had a 7 year old Rx7 when I was in college. Rx-7s are great fun to drive and provide a nice release when you can take a couple of hours away and go for a fast drive on a twisty road but also they are built very well. Very robust and when something does go wrong, who cares? In addition to the bird droppings, tree sap, rain, and snow that it endured, it also was side swiped while parked on the street outside my dorm. Of course no one left a note. Through it all, I could just get in the car and drive it to wherever I needed to go. In college, the last thing you should be worrying about is trying to keep an exotic car in good shape for fear of it's value being lost. You should have a car that's fun to hop into and enjoy but won't need any special attention or care. If it were me, I'd even dump the FRS and get an older Z or a Miata (with a hard top, even less to worry about).
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post #19 of 46 (permalink) Old 02-28-2016, 10:11 AM
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Agreed with me73, if I could do it all over again, I'd buy an NA Miata with a hardtop and do a street/track build and love the experience. Or S2000, but those are such targets for people wanting to steal the seats, it would suck to daily one without the super rare and expensive hardtop.

But let's be real here, guys. OP is 21. He's gonna do what his heart wants to do. So really, just get the Elise. Suffer through and enjoy the experience. And then look back with fond memories and cringing realization that you could've better spent your time and money some other way. Many of us have done this and that's why we're telling you not to make our same mistakes.

What's the saying? Youth is wasted on the young.
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post #20 of 46 (permalink) Old 02-28-2016, 04:51 PM
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I was in your position.

Enjoy the FR-S. If you must upgrade to a 2-seater with sublime handling and no roof, get an S2000. 70% of the fun. 50% of the costs. The interior is also more comfortable and higher quality fit and finish.

Plus, I know you want to drive an Elise partially beause of how it looks, but believe me, the attention gets old. Especially if you're an introvert who does not like being the center of attention everywhere you go.
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