[gstspeedster]

This will be my first post to the forum and I wanted to introduce myself and ask a question. I've been into cars along as I can remember, I'm 40 now, but I always remember an old car a neighbor had while growing up. It was a lotus elite. I don't remember what year or anything about it really, I was so young then. I just knew it was totally different than any other cars around. I've had some muscle cars, vettes, imports, and tuned quite a few vehicles through the years and I even still tour on a 06LE hayabusa.
And that brings me to my question. I've come across an 06 elise for sale. It has approx 20k miles The owner is asking $22,000. The owner has told me that the price is very firm, since it was suppose to be advertised at a higher price. Although he did not share with me what that price was. I've really not seen any type of definitive pricing on these vehicles and was wondering if this is a good price or not? I have not had a chance to find out what options the car has other than a hardtop, but I'm scheduled to view the vehicle tomorrow.
Thank you for your responses and help in advance.

 

[Demonized]

Welcome,

Seems low. Could be desperate. Could be damaged.

 

[GR82DRV]

I'd expect >30K$ for 20K miles on an '06. Maybe he has a loan shark ready to break his fingers, or maybe he hasn't disclosed the full condition. You'd better make sure it's the former and not the latter.

Ask about any past body damage. What has been replaced (if anything)? Has the car been extensively tracked? Look at the underside to check for obvious damage to the panels. Service records? I think that people who beat the car's internals usually disregard the cosmetics of the car too. Will the owner offer an ECU dump and an independent inspection? If all this checks out it could be one of those deals that we dream of...

 

[gstspeedster]

The owner is a 50 some yr old guy that likes sport cars, he says that it pretty much just sits in the garage and he doesnt get to enjoy it, plus its getting harder to get in and out of.
He did tell me that it has a rebuilt title because the car was stolen from the original owner in Chicago and the owner had the car replaced before it was found. He assures me that there has never been any damage to the vehicle and that he had the lotus dealer in the chicago area check the vehicle out before he purchased it a couple of years ago.

 

[gstspeedster]

Will the owner offer an ECU dump and an independent inspection?

I will ask tomorrow when I see the vehicle. Thanks..

 

[Demonized]

Well there you go, "rebuilt" on the title would do that to the price...

Make sure to look under the seats for drugs, guns, etc

 

[GR82DRV]

Are you and the car in the Chicago area? If so it could be worth taking it yourself to Fox Valley Motorcars to get checked out. They have the reputation as one of the very best Lotus service centers in the U.S..

If you don't plan to sell it again anytime soon and everything checks out, it could be a good deal. Still, don't hesitate to negotiate price with a rebuilt title.

 

[...m...]

...$22K is either an outstanding deal or a shady car: as noted above, a reasonably well-worn elise of that mileage would typically be closer to $30K...

edit: ...ah, updated the thread, and there you go: salvage title...if everything's in decent shape and there's no frame nor powertrain damage, that's still an excellent deal provided you plan to keep the car...

 

[Michael_In_Hoboken]

Personally, the rebuilt title would make me walk away. These cars damage easily, and while the owner is saying this car is actually clean, I'd spend the extra couple bucks and get a car with a clear title.

Just my two pennies, of course.

 

[gstspeedster]

Are you and the car in the Chicago area? If so it could be worth taking it yourself to Fox Valley Motorcars to get checked out. They have the reputation as one of the very best Lotus service centers in the U.S..

If you don't plan to sell it again anytime soon and everything checks out, it could be a good deal. Still, don't hesitate to negotiate price with a rebuilt title.

We are in Indiana, but the owner went to Chicago to purchase it. I believe Chicago is the closest dealer though. If I decide I want to purchase it tell him to let me or take it there to have it checked out. And I'll definatley do a carfax on it as well. I think I've been to that location. Its right On Ogden I believe. I had a friend that lived in the area. I'll let you guys know how it looks, and I'll be taking pics as well. I'm hoping it a real "deal"..... Plus I plan on keeping and enjoying it a while..

 

[5qf3764b]

:no: Would stay away from rebuilt/salvage without having it checked from top to bottom by someone who knows these cars. Fox Valley Motor Cars would be a great option. Even if it does check out you may not be able to sell it in the future without the same scrutiny.

 

[gstspeedster]

Well the car sold an hour before I was suppose to see it. So I thank everyone for thier responses and I will be creeping around the forums learning more about these wonderful vehicles untill another deal comes up. Thanks again..

 

[GR82DRV]

Maybe it was meant to be... But if you keep up with the L.T. Lotus Cars for Sale subforum you still may find a match made in heaven. Just be patient. You'll have lots of help here if you want it.

 

[gstspeedster]

Maybe it was meant to be... But if you keep up with the L.T. Lotus Cars for Sale subforum you still may find a match made in heaven. Just be patient. You'll have lots of help here if you want it.

I will check it often. Thanks..

 

[RENDERMAN]

Well the car sold an hour before I was suppose to see it.

There are moments in history that prove decisive and mark a turning point for the future. The Civil War was such a moment in the United States. The fall of the Berlin Wall was such a moment for Germany and the European Union.........$22K, What the heck were you thinking Dog? I don't feel like saying Hello to you anymore!!


P.S. Ok, ok I feel guilty. Hi..

 

[EliseAtLeast]

There are moments in history that prove decisive and mark a turning point for the future. The Civil War was such a moment in the United States. The fall of the Berlin Wall was such a moment for Germany and the European Union.........$22K, What the heck were you thinking Dog? I don't feel like saying Hello to you anymore!!


P.S. Ok, ok I feel guilty. Hi..

RENDERMAN, what are you on? I would like some of that

 

[Vampyre]

Well the car sold an hour before I was suppose to see it. So I thank everyone for thier responses and I will be creeping around the forums learning more about these wonderful vehicles untill another deal comes up. Thanks again..

Count your lucky stars... a rebuild title is no way to start a Lotus relationship

 

[ckugel]

Salvage title - AND - Not the original owner. NOT the way to buy these cars!

 

[Gizmo3000]

Well the car sold an hour before I was suppose to see it. So I thank everyone for thier responses and I will be creeping around the forums learning more about these wonderful vehicles untill another deal comes up. Thanks again..

You did the right thing.

I almost did the same thing and felt the urge to pull the trigger on a salvage
- but then I joined this forum and the gang set me straight. - thank goodness. (and a few months later I got the car I really wanted, albeit at a higher price, but it felt well worth it)

I'm sure it works out for certain buyers and sellers of salvage title cars, especially if it's determined by professionals that there was no frame damage - and the buyer intends to customize and track the Sh*t out of it.

Ironically, one of the salvage cars I initially considered was a "theft recovery" salvage title.
..but I suspect it was something of a insurance-scam the owner did or something, as I honestly can't recall if I've ever read about someone having their Elise/Exige stolen. ever.

 

[gstspeedster]

Thank for all the replies everyone. I'm still looking... I've been looking at a couple of exiges as well. I just don't know know??? Definately want to go supercharged. The search continues..