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Discussion Starter #1
I'm thinking about selling my 2005 Elise with the ForcedFed 275 package. I want to buy the components for the Factory Five GTM and would like to free up a little extra spending money. All my friends think I will regret it forever if I let the Elise go. But they aren't really car enthusiasts, and think a kit car is worthless. There is a slight possibility I can afford both, but I'm not sure I really need two cars with very similary characteristics in my garage while the poor Corolla sits outside.

So I'm asking the Lotus/Elisetalk community for some words of advice. My dad always talks about how he should have never let his Corvair go when he was younger. Maybe others would like to share their words of wisdom?

I know I will regret selling my Elise, but my current thinking is that will be outweighed by the sheer ridiculousness of the GTM.

So here are some numbers and pictures to consider (taken from each vehicle's corresponding website):

Factory Five GTM:
0-60: 3.0 sec
0-100: 6.6 sec
1/4 mile: 11.0 sec @ 132 MPH
Skidpad: 1.05 g

<a href="http://s274.photobucket.com/albums/jj245/rushbt/?action=view&current=GTMred1.jpg" target="_blank"><img src="http://i274.photobucket.com/albums/jj245/rushbt/GTMred1.jpg" border="0" alt="GTM Red side"></a>
<a href="http://s274.photobucket.com/albums/jj245/rushbt/?action=view&current=GTMblack1.jpg" target="_blank"><img src="http://i274.photobucket.com/albums/jj245/rushbt/GTMblack1.jpg" border="0" alt="GTM Black 3/4"></a>

ForcedFed 275 Elise:
0-60: 4.0 sec
0-100: not posted
1/4 mile: 12.5 sec @ 110.5 MPH
Skidpad: 1.04 g

Everyone knows what it looks like already, but here are pics of my car:
<a href="http://s274.photobucket.com/albums/jj245/rushbt/?action=view&current=IMG_0659.jpg" target="_blank"><img src="http://i274.photobucket.com/albums/jj245/rushbt/IMG_0659.jpg" border="0" alt="Elise Black 3/4"></a>
<a href="http://s274.photobucket.com/albums/jj245/rushbt/?action=view&current=IMG_0744.jpg" target="_blank"><img src="http://i274.photobucket.com/albums/jj245/rushbt/IMG_0744.jpg" border="0" alt="Elise Black side"></a>
 

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i say try and keep both because most likely you will regret selling your Elise.
 

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Wow :panic:

The GTM looks great, I should sell MY Elise and get one!!!!

How much do they go for?

:shift:
 

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For keeping the Elise: chain of dealers to help with servicing and parts, probably more creature comfort features, compact size

For building the kit car: the sense of accomplishment turning all of the screws yourself, intimate knowledge of the car's inner workings, you won't pass another one on the street ever, higher performance
 

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Discussion Starter #6
Wow :panic:

The GTM looks great, I should sell MY Elise and get one!!!!

How much do they go for?

:shift:
The GTM kit goes for about $20,000 (plus or minus considering the options). Then you have to find a donor C5 Corvette for some of the suspension parts, engine, sideview mirrors, steering column, etc. Then you get a Porsche G50 tranny. Then after an estimated 350 man-hours to take the Vette apart and assemble the new car, you've got yourself a GTM. Factory Five does not sell them pre-built. The whole car, considering you can find the donor parts at reasonable prices, runs around $40,000. Then you have to figure how much your time is worth to put it together.
 

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Discussion Starter #7
For keeping the Elise: chain of dealers to help with servicing and parts, probably more creature comfort features, compact size

For building the kit car: the sense of accomplishment turning all of the screws yourself, intimate knowledge of the car's inner workings, you won't pass another one on the street ever, higher performance

I'm not sure the first statements are correct for the Elise. I live in the Midwest and the closest Lotus dealership is in Columbus (2 hours away). I bought the car in Chicago (6 hours away). I guess if you mean I break something such as a body panel I could get it replaced, then having the dealerships around are nice to order from. But I can get all the GM service parts easily to replace on the GTM as well. And honestly I think the engine and tranny will be easier to work on in the GTM (I put the FF 275 kit in myself and talk about a cramped space!!!!).

This sounds silly but my 2 biggest worries are that I'll miss the targa on the Elise when its nice out (like it is today), and that if I decide to sell the GTM in the future, it might not be worth what I've got in it because its a kit and not a factory produced vehicle with a "reputation". I'm also nervous about controlling 450+ HP after I'm done modding the C5 engine :shift:
 

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I'm also nervous about controlling 450+ HP after I'm done modding the C5 engine
You will never catch me saying, "I won't buy this car, it has too much horsepower." You have the bug - I am sure that is something you will quickly get over. ;) Don't let that factor into your decision.
 

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normally I'd say no. But that GTM is pretty freakin sweet. I always thought if I got rid of the Elise it would be nice to get a Noble, but that GTM looks like a nice option. Seems like a great value of exotic looks and performance for that price. Also nice that its using Vette power and the simpleness that comes with that.
 

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This sounds silly but my 2 biggest worries are that I'll miss the targa on the Elise when its nice out (like it is today), and that if I decide to sell the GTM in the future, it might not be worth what I've got in it because its a kit and not a factory produced vehicle with a "reputation". I'm also nervous about controlling 450+ HP after I'm done modding the C5 engine :shift:
Ok lots of comments on this one for you RUSH>

And your FF275 Elise will hold its value. I would say your elise is going to be WAY more of a money pit than your GTM kit will.

Have you looked for a GTM completed car thats for sale. YOu would be hard priced to find more than a handful in the country. Lots of reasons for this. One is its a rare car. The other is when they go up for sale they dont last long, because theres quite a few guys that want the car and have the money but dont want to mess with building one.

Which is why the Factory five racing Cobra kit cars sell so well. Same concept.

Building a kit car like the GTM is actually one of the better investments you can make when buying a car. Your building equity in your labor hours. You should easily be able to sell the car for more than what you have invested when its finished. A friend of mine just finished his Factory five cobra project. They plan on driving it around to a couple track days and selling it for 15K mininum over what they have invested.

My friend and I were researching these a few months ago when he was trying to decide on what he wanted.

1.) You wont get a GTM like the black one for $40k+labor hours.

2.) i think you would be lucky and very resourceful to have a base GTM finished for that kind of money. But im not saying its impossible.

3.) if you've never built a car from scratch you might not know about the hidden costs in parts here and there through out your project.




And rush i recognize your neigborhood. What part of cincy are you from?

Are you near hamilton and badin highschool?
 

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Screw the C5 engine. Get a crate Z06 engine and put down some real power in that baby :evil:.

Thats they way i would go.
450+hp and stock/reliable.
 

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This sounds silly but my 2 biggest worries are that I'll miss the targa on the Elise when its nice out (like it is today), and that if I decide to sell the GTM in the future, it might not be worth what I've got in it because its a kit and not a factory produced vehicle with a "reputation".
...i can't speak to the value of a kit conversion, but you will miss the targa - i never felt truly satisfied with a single car i owned in the fifteen years between selling my t-top capri and buying my targa elise, even though they were all clearly nicer cars...since it's a kit, though, have you considered building a custom targa on the GTM?..

...also, don't forget to factor in that you'll be without either car to drive while building the GTM, which could take quite some time...
 

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The good thing about an Elise is that you can always get another one. These aren't ridiculous sums of money we're talking about. If the FF car does depreciate a little (which I doubt), so you're out a few thousand. Small price to pay for the luxury of owning such a rare, high-performing, and beautiful car. The point is, there is not much money to be lost if any (except on the Elise because you won't get the full return of the FF275 investment). The only other cost is the opportunity cost of working 350+ hours on this project, but as mentioned above, some of that will become extra equity.



Good luck...and enjoy whatever you do :shift:
 

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First and foremost question to me is are you willing to put in an insane number of hours to get the GTM running... and if you have a significant other, is that person going to be willing to accept your committment to building the car... if the answers are yes?... then you can start thinking about the money of it all. Looks pretty sweet the GTM... if you're tracking the thing, maybe the GTM is the way to go... but i'd probably rather try and spring for a used built one. Time is just too precious for me... the only stuff i don't mind putting crazy hours into need to be truly one of a kind project (like art/furniture type stuff) I really like the open top on the Elise. I don't know what you use your car for, but another question is would the larger size of the GTM cause any problems?... part of the specific value of the elise is it's short overall length. (but it would be nice to drive a car that didn't sound like a toyota with a fart can muffler on it... there's a tesla dealership going in near my work... maybe i can get a test drive) good luck!
 

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Discussion Starter #20
First and foremost question to me is are you willing to put in an insane number of hours to get the GTM running... and if you have a significant other, is that person going to be willing to accept your committment to building the car... if the answers are yes?... then you can start thinking about the money of it all. Looks pretty sweet the GTM... if you're tracking the thing, maybe the GTM is the way to go... but i'd probably rather try and spring for a used built one. Time is just too precious for me... the only stuff i don't mind putting crazy hours into need to be truly one of a kind project (like art/furniture type stuff) I really like the open top on the Elise. I don't know what you use your car for, but another question is would the larger size of the GTM cause any problems?... part of the specific value of the elise is it's short overall length. (but it would be nice to drive a car that didn't sound like a toyota with a fart can muffler on it... there's a tesla dealership going in near my work... maybe i can get a test drive) good luck!


actually I'm single, so I can do whatever I want with my time :panic:. And I wouldn't consider it if I hadn't planned on enjoying the work and getting my hands dirty and actually creating something. I had so much fun putting the FF275 kit in! Now this is on a grander scale!

And as far as the crate LS7 engine, that is $13,000 just for the engine! I've got a buddy who's sole hobby is modifying Corvettes. He's already planning a head/cam combo to easily get the 450 HP. More power is available for a lot less than $13,000. Of course I could get the LS7, I suppose, and then modify it to 750 HP...hmmmm...nah can't afford it
 
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