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Discussion Starter · #1 ·
I totaled my lovely little 2005 Elise, insurance paid it out and it sold on auction yesterday 10/16/2013 in Houston Texas.

The car has almost nothing wrong with it.. a 2 inch ding in the aluminum tub underneath, halfway between the two front wheels (hit a curb). The performance shop i took it to said they could weld a bit of aluminium plate over it with no problems.. (though they didn't think there would be a problem leaving as is)

Additionally i also had the alignment laser checked at a specialty shop they said it is 100% geometrically aligned. So.. while it is totaled per Insurance company/Lotus, the car is still in perfect condition less that ding.

The car is Turbo charged and goes like stink.. I'll add the link to the posting from which i bought it.

Such a sad sad day..
 

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Premium Member
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My 1st elise was totaled for the same reason. Dent in the floor under driver seat. The only official way to repair is to replace entire chassis. That is why it was totalled. No insurance company will take on the liability of repairing it. Mine sold for $10k in 2009 to a genteleman in Guatemala who welded a plate on and is enjoying it.
 

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Seems like an interesting price, hard to tell if that would be a reasonable asking price for something with damage and a branded title, would the modifications be worth it?
 

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Monaco Dreamin'
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Did they give you a decent buy-back offer?
 

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Seems like an interesting price, hard to tell if that would be a reasonable asking price for something with damage and a branded title, would the modifications be worth it?
What do you guys think is a FAIR price for one like that rebuilt and maybe even with a few carbon mods? How much would you be willing to pay for one restored with rebuilt title? (be serious...don't write like $1k or something ridiculous like that pleez) :facepalm
 

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Wow Such Admin
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Rebuilt seem to be going in the mid to high 20's lately depending on the prior damage and mileage.
 

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2008 Exige S240
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It's a shame this car will now have a salvage title for such a silly reason.
I wonder how many salvage Elise's exist that were in like new condition?

Does an increase in salvage titled Loti in turn increase the resale value of
clean titled Loti?
 

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Industrial Designer
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I wonder how many salvage Elise's exist that were in like new condition?

Does an increase in salvage titled Loti in turn increase the resale value of
clean titled Loti?
Not necessarily.

If these Rebuilt Loti are well rebuilt and have a well documented history and expert repair to go with them, then they will always sell well and for much less than the Clean ones.

And if there is such high % of Loti owners not minding the title and keep buying these cars, if anything the prices of Clean Loti will go down due to sale competition. (just my guess)

I'm a salvage guy and been dealing with salvage & rebuilt cars half of my life (i'm 30), and I always thought that ppl discredited rebuilt cars way too early without giving them a chance and even investigating the extent of the damage (which in many cases is very minor and ridiculous, but still have the Salvage branding...sadly)
 

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Rebuilt seem to be going in the mid to high 20's lately depending on the prior damage and mileage.
Thanks dodge.
To me (salvage guy), it's very encouraging to see ppl give these little beauties a 2nd chance at life and by buying the restored ones put value into the market for guys like me.
 

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This is my old car that I bought new and did the FF conversion on. I loved it and had some great times in it. Sorry to see the life it now leads. Vita is still trying to sell it, now asking for even more!
 

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Up for sale again.

I might take a closer look at this one for my first Elise, but only if he has some wiggle room in the price. What would y'all put this one at now?
 

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Sold my Exige S
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^ Well under $30,500. Anyone who even pays high 20s for this car has more dollars than sense. A turbo and rebuilt title (no matter how minor the damage) don't command stock prices.
 

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but only if he has some wiggle room in the price. What would y'all put this one at now?
Salvage title with a dented chassis, major rash on the bottom of the front clam, hokey mods in the engine compartment. I would place the value at $20,000 to $22,000.
 
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