Just purchased the car I coveted throughout my childhood, a Lotus Elite!

[Bazza 907]

As you're thinking, it depends on if you want a 'fully restored' car. If you are paying others to get you there then you can at least double the £20k you mentioned. A recently completed restoration where a good chunk of the work was done by the owner cost north of £40k. 

It's important to go in with your eyes open.

[Uncle Al]

If you paid £3.5k you did very well, look what this recently went for.  10 years ago that would be one tenth of that or unfortunately scrap.  From the pictures of yours I would have thought a ‘recommission’ was needed rather than a restoration?  Could you not put it in for an MoT and see what it fails on and go from there?  I wouldn’t be surprised if you could make change from £20k if you were sensible….very sensible.😂

[Elitexxx]

So to update. 

I've spoke to Mike at LotusBits - this is a man who obviously knows exactly what he's talking about! 

A nut and bolt ground up restoration with upgraded modern electrics, engine rebuild is pushing £50k. It would be started next year and would be finished the following.

I'm thinking it over and am going take a drive up to meet Mike and potentially book a slot.

It's a lot of money, but I'd end up with something very special that I could actually use and enjoy with added confidence that it's not going to continuously break down, and the heater would work.

 

[jep]

Very wise to have spoken to Mike.

Justin

 

[Elitexxx]

On 05/08/2021 at 17:23, Uncle Al said:

If you paid £3.5k you did very well, look what this recently went for.  10 years ago that would be one tenth of that or unfortunately scrap.  From the pictures of yours I would have thought a ‘recommission’ was needed rather than a restoration?  Could you not put it in for an MoT and see what it fails on and go from there?  I wouldn’t be surprised if you could make change from £20k if you were sensible….very sensible.😂

Mine is quite a bit worse than it looks in the photos although In think it is alot better than the yellow one you show. 

I could spend £20k and end up with a very nice car but I do like the idea of ending up with a new 1975 car from LotusBits. 

[Uncle Al]

In fairness that doesn’t sound too bad and as you say you will have a new 1975 car, what’s not to like?  Best of all we need Lotusbits, SJS, Spyder Eng etc, etc to be around for another 20+ years especially with the advent of the recent interest in the 70’s wedges.  If we lose these cottage industry businesses who else is going to support them?