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Discussion Starter · #1 ·
hey hows everyone doing today hope all is well. i just found this site and ive been looking for a Lotus Exige or Elise that has been crashed that i can pick up under 10k and repair or just a higher mileage Lotus or one that needs work for 10k or under im 18 and ive been looking for a while there was a decent red one on eBay for 5000 needs front clam and was not running i regret not buying it now. but i would appreciate and info on a project thanks alot and congrats to all of you who already have a lotus
 

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Frame damage = totaled.

Just so you are aware.

search around for a bit on here for more information on why cheap lotus are a bad idea..
 

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Yeh, definatly not the best idea looking for a smashed lotus, due to them being so eaily totaled from frame damage. Better off looking for a second hand one IMHO it would turn out cheaper too.

Welcome!
 

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Discussion Starter · #4 ·
thanks for replying and for the info what should i be looking at for a price on a decent lotus that has not been crashed? also what do you think of high miles?
 

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High miles shouldn't really be a problem, provided the car is otherwise well taken care of. As far as price goes, some people have reported getting a car for as little as 24k, and around 30k seems to be pretty easy to find. As far as under 10k goes, the only thing you're going to find in that price range is salvage cars that have frame damage and have already been stripped.
 

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Not to mention your insurance is going to be through the roof IF they will even insure you.
 

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We have been over this MANY times even in the short period I have been here.

Cliff notes: 1. You wont be getting a lotus
2. mr-s, miata, s2k, are all great (purist oriented) fun cars for reasonable
money. Get one of these.
3. go to college, study hard, buy a lotus when you graduate.
 

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Buying a smashed Elise to save money = fantasyland. It's amazing how many people have gone broke saving a buck. It's probably best to follow aschen's advice. Just saying.
 

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Discussion Starter · #10 ·
i don't appreciate you saying i wont get a lotus. i can and will buy a lotus im a very determined person yes im 18 but i work hard at what i want. also cant isn't in my vocabulary. also i do appreciate telling other nice cars. and im not looking to purchase a crashed lotus to save money i wouldn't mind the project and it would make me respect the car and know it more. i have 10k cash i could buy one with a down payment or just a project. and i hope you guys don't think im just a push over im serious im only 18 but i also saved 10k so far for this car so im not joking around i am serious
 

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Keep in mind for you to be able to get a loan you have to have good credit. Being 18 I wouldn't be surprised that the bank will flat out say no. $10k down payment is not much when buying a new(er) car and it will be quite hard to get the bank to do a loan on an older car. Also keep in mind your 6 month insurance will be $1,000 or more a month easily if they even agree to insure you.

You should do some reading on here to see how much maintenance is on these cars before you think oh hey its not that expensive of a car.

There are tons of people who come on here your age thinking they are going to get a Lotus. I don't think any of them did or will any time soon. You still have quite a bit to learn and earn.

Good luck either way.
 

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There are tons of people who come on here your age thinking they are going to get a Lotus. I don't think any of them did or will any time soon. You still have quite a bit to learn and earn.

Good luck either way.
Yeh especially the 16/17 year olds who think mummy and daddy are going to get them one rotfl
 

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I say save another $10k and by that time, you can probably buy a used one for around $20k that has not been crashed. Do not buy a crashed Lotus. They seem to be too fragile. The frame is not repairable. Clams are expensive as h*** to replace. Why bother? Save some more money and go buy one used. Or get a loan. But like others have said, good luck. You are young with little or no credit and loans are hard to get nowadays.
 

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i don't appreciate you saying i wont get a lotus. i can and will buy a lotus im a very determined person yes im 18 but i work hard at what i want. also cant isn't in my vocabulary. also i do appreciate telling other nice cars. and im not looking to purchase a crashed lotus to save money i wouldn't mind the project and it would make me respect the car and know it more. i have 10k cash i could buy one with a down payment or just a project. and i hope you guys don't think im just a push over im serious im only 18 but i also saved 10k so far for this car so im not joking around i am serious


In that case, you can get an Elise for around $24K - $30K.

$10K down on $24K will get you a Lotus for about $250-$300 a month (4 year loan) give or take a little.

THEN you will need to pay between $100 and $1000 a month in insurance.

Rotors about every 2 years for $1000 for the set.

Tires every year for another 1000 (or more) per set

Oil changes are not cheap since you need Synthetic oil, so figure $40 if you do it yourself (about once a month)

I am not saying it can't be done, and I don't think anyone on this board said an 18 year old can't do it. They usually say it is best to save up and buy it in cash, save up and go to college, save up anbd buy a house, etc. FIRST.

So at you are 18, what are you planning on doing when you graduate High School? Go to college? Go right into the work force? Go into the military?

The Lotus is "In Between" a Ferrari and a Civic, as in it is not as expensive to maintain as a Ferrari, but it is not as cheap as a civic either. You don't want to parallel park it like you would a Civic, you don't want to hit the little cement parking thingy when you pull into a normal spot like you would/could a civic. Any damage is BIG BIG bucks just for the part, and then BIG BIG bucks for the tech to do the work.

For instance, my mazda service costs about $79/hr, the Lotius is $180/hr

Now you mentioned fixing a wrecked Lotus
The front and rear fiberglass body panals are around $3000 each and that is with just primer, add paint and processing and install and you are near $14000 (already more than your initial investment of $10K and you can buy a used car with no issues for $24K)

So you see, we are not telling you that you can't, we are telling you that you shouldn't.

I see you only have a handfull of posts, stop posting for a day and just read. Look up what people have done to fix their broken cars, and look at what is selling for the lowest prices.

Hell, I feel like I should also mention that these cars have SERIOUS fail points. Rear toe link failure, premature cam failure/wear, Oil lines failing. All these need to be looked over on a regular basis. It is not like a civic, S2000, Miata, BMW where you can jump in and just go, worry free.

And what are you going to do when it rains or snows?

Read a little right here on LotusTalk and you'll see, these guys are trying to help you out.

D
 

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Discussion Starter · #15 ·
thanks i do understand all the i have a full time job i don't get paid to bad i think i could afford it i do know i will have to make sure i can before i go buy something i cant afford. also my parent are out of the question seeing how my dads a paraplegic from a motorcycle accident and my mom does not work because shes always taken care of him so don't think there going to help me and i would expect them to im very independent and even if i wanted the help they could not help
 

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i don't appreciate you saying i wont get a lotus. i can and will buy a lotus im a very determined person yes im 18 but i work hard at what i want. also cant isn't in my vocabulary. also i do appreciate telling other nice cars. and im not looking to purchase a crashed lotus to save money i wouldn't mind the project and it would make me respect the car and know it more. i have 10k cash i could buy one with a down payment or just a project. and i hope you guys don't think im just a push over im serious im only 18 but i also saved 10k so far for this car so im not joking around i am serious
I acted like a bit of a jerk for effect. Maybe the right way to say is you shouldent get a lotus, especially a "fixer-up-er". With lotus (and many other marks), it actually makes more sence to pay too much for a nice example than get a good deal on a needs work example. For example the only good reason to get an early 911 to fix up is if you like the process. The original unrestored example will be cheaper, more valuable, and less work. Its nice to hear you are determined, use that energy for something that is important at this stage in your life: an education. I am still betting "won't", but go ahead and prove me wrong if you must.
 

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Don't waste people's time and go to the bank first to see if they are willing to even give you a $14k+ loan.

You may not have can't in your vocabulary, but the bank does. They also have won't, no and other negative words and they use them a lot.

Honestly if I was 18 and had $10k I would save it for college and a house. Once you get there then look into nice cars.

Here is your damaged Elise. 2 for the price of 1: eBay Motors: Lotus : Elise (item 170328674575 end time May-11-09 18:05:46 PDT)
 

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lmao, those poor cars!!!
 

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oh god...another i am 18, determined...blablabla...don't get me wrong kid, but you are in for a surprise when you park parallel park in front of mcdonalds...

on the other hand i salute you for pursing your dreams, good luck!
 
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