Whats it worth ?

[Hannu]

Hi,
This is my first post on the forum and I hope its in the right place.
A friend has allerted me to an Elan thats been stood for some time outside a local garage, Having been a Lotus fan for many years I have been looking for a project for some time now having been offered a MGB GT two years ago and renovating it back to its former glory.
Right the car in question is a "G" reg 89 model thats been stood outside for the last FIVE years and not been used for TWO years before that, It originally went to the garage for gear change cables which haven't been done and has never moved since.
From what I can see it needs the following:-
Gear cables
complete respray as paint is flaking on nearly every panel
Brakes will very probably need replacing
Oh and the roof is damaged water has got into the interior which needs completely replacing !!!

I have managing to contact the owner who wants me to make an offer, the garage owner says he is owned around £500 storage !!!!
My intial feeling were £200 tops !!!
What does anyone else think ?

[JohnB]

I have managing to contact the owner who wants me to make an offer, the garage owner says he is owned around £500 storage !!!!
My intial feeling were £200 tops !!!
What does anyone else think ?

£200 would be nice!! You could sell the rear lamps for more than £200. Have you seen Elan parts prices on Fleabay?

[dapinky]

To be honest, and much as I hate to go down that particular route, I would expect it be be more of a 'breaker' than a 'mender' .

That said, everything is salvagable, but it would depend on how much you can do yourself, and how much would need to be paid for. If it is as bad as you indicate then it would not be cost effective to get it back on the road in a good condition, but could well be a nice project for a longer - term interest, as a rolling restoration.

There are quite a few in much better condition for sale at the moment which are ready to go (some may need tidying up, but are easily useable as they are) for less money than you would have to spend on a total shed to get it to the same condition.

Expect lots of issues, and tackle it in a logical order, and it could provide hours (or days, weeks, months) of spanner-weiling fun.

There is certainly enough advice availlable on this forum to tackle everything, but it will need a lot of enthusiasm to avoid turning into a money pit which could put you off the car before you get to benefit from the work undertaken.

If you decide to go for it, then pay as little as possible for it and be prepared to spend time and money on it - it aint likely to turn much of a profit, but may well provide plenty of entertainment along the way.

(and if you decide against it, then maybe someone else on here may like to take it on in some way, shape or form)

Geoff - wanna go halves

[Hannu]

To be honest, and much as I hate to go down that particular route, I would expect it be be more of a 'breaker' than a 'mender' .

That said, everything is salvagable, but it would depend on how much you can do yourself, and how much would need to be paid for. If it is as bad as you indicate then it would not be cost effective to get it back on the road in a good condition, but could well be a nice project for a longer - term interest, as a rolling restoration.

There are quite a few in much better condition for sale at the moment which are ready to go (some may need tidying up, but are easily useable as they are) for less money than you would have to spend on a total shed to get it to the same condition.

Expect lots of issues, and tackle it in a logical order, and it could provide hours (or days, weeks, months) of spanner-weiling fun.

There is certainly enough advice availlable on this forum to tackle everything, but it will need a lot of enthusiasm to avoid turning into a money pit which could put you off the car before you get to benefit from the work undertaken.

If you decide to go for it, then pay as little as possible for it and be prepared to spend time and money on it - it aint likely to turn much of a profit, but may well provide plenty of entertainment along the way.

(and if you decide against it, then maybe someone else on here may like to take it on in some way, shape or form)

Geoff - wanna go halves

Thanks Geoff

Other than any possible welding I could do it all as I am, or was time served MV tech,
The interest would be in doing the work with a decent car at the end. In saying that I dont want the sum of the restoration to come to more than buying one thats a rolling project . I would just like to see it saved from scrap and maybe keep it at the end, My hope is to one day own a Europa my childhood dream car, in saying that the idea of a open top Lotus does appeal.
Thanks Bryan

[bobbrown]

Hi,
Oh and the roof is damaged water has got into the interior which needs completely replacing !!!

I would look at the inner steel sills as they could be quite bad if there is water damage on the inside and this summer has probably not helped.
See this topic for details of how rust can affect the Elan and these are ones that have had no where near the same history.

If the condition is a bad as you say then much as I hate to say it this one may be beyond repair.

[norman lovie]

i,d rather buy an obvious project valued accordingly versus a polished and shiny exterior - to then go and find the hidden rot

another area to take a close look at is where the chassis longerons meet the front cross member - you need to get to the underside of these structures - give em a good poke
if the underside of the longerons are soft, perforated - then there will be a lot more hidden

but hayho for a £200 bucks - you can add me to the end of a probable long list that would otherwise willingly pay that for it - regardless of what you find
i.e. don't let it disappear !!

[Brit-Car-Nut]

Hannu:

Let us know your decision and if you decide to pass it by, let us know where it is as someone in the group will take it under their wing and either repair it to a working vehicle again or, if that isn't possible, then they will preserve the remaining parts for themselves or offer them to others.

[Faraday]

Hi Hannu, welcome to this forum, take it from a guy who has just bought a barn find and has not got the time or technical know how to rescue this Elan, the parts can cost a fortune, it all depends on how much needs doing and how much you are willing to spend. As has been said on previous posts, check the underside thoroughly, that's where most of my cash went on my rebuild. Love her to bits but it comes at a price (and she's still not on the road)

[Hannu]

Hi Hannu, welcome to this forum, take it from a guy who has just bought a barn find and has not got the time or technical know how to rescue this Elan, the parts can cost a fortune, it all depends on how much needs doing and how much you are willing to spend. As has been said on previous posts, check the underside thoroughly, that's where most of my cash went on my rebuild. Love her to bits but it comes at a price (and she's still not on the road)

Thanks for the advice Faraday,
I do have the techinical know how so that doesnt worry me, the cost might. As I said I dont want the end product to cost more than the worth. I know cost can add up, the MGB gt I renovated last year cost more than I thought and I sold it having only come out £200 better off, thats not including time spent on it. The Lotus would be different as it would be done more from the heart rather than the head that the MGB was. The MGB was only done to make a bit of cash the Lotus would be for keeps and therefore would be tempted to buy the best of everything to build it.
Can I ask if your Elan had much rust and if it did how you tackled it?
I am going to have a look for rust before I make an offer and I think this will be the deal breaker. Because of the cars position I wont be able to rise it, think I will only be able to lift the carpets and check the floor pan.
Will keep you posted on what I find.

[rip]

I don't suppose you will know if it is worth restoring it until you've part stripped it?
Some of the parts are unusual & have a fairly good resale value (rear lights spring to mind, as mentioned earlier).

[epipete]

Personally speaking, I don't think that there is any profit in what you propose even if all your labour is free, parts alone will soon outstrip the potential resale value as the market value is so low. Nevertheless, I think that the value will continue to hold steady so at least you can spend against the depreciation sum of, say, a Porche each year and still be quids in perhaps.

Whatever, I think I'm on safe ground to suggest that Élan owners would be locked up in the nutty house is we espoused financial prudence in ownership of these cars, we do it because they're great fun.

Pete

[Faraday]

Hi Hannu, anything you need to know I am more than happy to pass on mate, but seeing as how I have had to buy so many bits might be better to do that via a pm Bear in mind I have not got the technical know how of this and have sweet talked my trusted local village garage into the hard labour so that will save you a couple of grand if yours is anything like mine.
Main rust was rear o/s wishbone, needed replacing, but better, I understand to do both, they don't come cheap £600 each inc VAT, and (don't laugh at my description here!) a square box metal bit of the chassis that supports the engine, something that cannot just be bought to replace but was recreated and welded in, (like I say, if you have the technical know how for welding and stuff then that should present you no problem, just a fair bit of work)
Other than that, the main problem was the brakelines, discs, calipers, water pump, radiator fans, cam belt and tensioners and drop links (whatever they may be! and some other weird metal ball joints that help the suspension) Then you have to look at the hood and seals, some seals are now apparently unobtainable, or you can opt for a complete new hood and seals not sure of the fitted price for that but link is on this forum, (M100 hoods) in Lowestoft, will be over a grand.
As RIP and Epipete rightly say, you may not know how bad the rust is until you get bits off and you certainly won't make any money in profit, BUT, if you do go ahead and get her back on the road, you will own a very rare car and I am sure that in time, they will increase in value, maybe not by much, but those that have been looked after will in time be more desirable. (Then again, I have convinced myself I am winning the Euro lottery tonight! so who knows).
PM me if you would like more details
Gary

[Hannu]

I've been to have a closer look today, Can’t get the carpets up to check the floor pan from inside but moss is growing on the carpets !!! From the underside the strengthening "dips" running across the car around where the seats bolt in are corroded, the jacking points are rusting but not all the way through. I hope the images attach ok then you have some idea of the condition. All the brakes are shot, disc and callipers all round at least.

No sorry cant post the images there to big

[Brit-Car-Nut]

The design of the tub is based on a structural skirt running around the outside of the car that is interconnected with the chassis via the outriggers like the seat mounts. The jacking points are critical as there is nothing else structural out there and if they are rusting, then the integrity of the skirt has been compromised. You can get a new floor pan assembly but that is a huge undertaking as the firewall and all of the outer skin are missing. I don't think you can get a new RHS body tub which is less work but still a huge amount of money and labor.

DO NOT compare this to an MGB-GT. I have built up ove 100 rotted or flipped GTs over the years and they just need a bit of sheetmetal and a good welder. The Lotus is bonded fiberglass over the structure which then is not really replaceable. It there are a few weak spots, minor repairs are do-able, but not meant to do any serious structual correction. The Lotus doesn't have floor pans like the MGB. It is a molded tub, there is nothing to weld directly.

It really sounds like the car might have reached the point of being a good donor for one that was wrecked in the front - where all of the suspension/chassis parts can be migrated and the main tub is reusable.

Sorry to be so negative, but I have two M100s I am working on now and if I didn't find floorpans and a new body tub, I would not be able to fix either of them - AND I am in the SUNNY, DRY South Eastern USA where rust and rot are not a major issue. I ran an MG shop for 25 years and had mid '60 MGBs come in for leaf springs which we could do in around 30 minutes because all of the hardware was still clean and rust free. I also worked in the North Eastern US and rust was like that in the UK, so I do know the difference.

I know the members here will help wherever they can, so if the price is right, you might want to give it a try, but if the damage is as bad as expected, there is a used parts market, so you will probably not lose a fortune.

If you decide not to go forward, I would love to know where it is and who to contact so I can use it to finish my two projects. It will not die without saving a few more cars.

Best of luck whichever direction you take.

[Hannu]

I've been to have a closer look today, Can’t get the carpets up to check the floor pan from inside but moss is growing on the carpets !!! From the underside the strengthening "dips" running across the car around where the seats bolt in are corroded, the jacking points are rusting but not all the way through. I hope the images attach ok then you have some idea of the condition. All the brakes are shot, disc and callipers all round at least.

No sorry cant post the images there to big

Hope this works, please see this link for photos

http://www.flickr.com/photos/56102896@N06/

[Brit-Car-Nut]

It looks to be a formidable task. You really won't know until you clean things up. It almost looks like the engine went underwater? The hose is for the turbo and the bottle is the overflow/header for the cooling system. Both come out of the way to reach the shift cables. The amount of moisture / mold is the huge concern.

If the engine went underwater, that might be terminal. In picture DSCF1622, the amount of black crud on the wiring harness connectors is scarey.

Get it to dry ground, get it cleaned up and remove the seats to see how much is damaged. Make your decision.

It might surprise you and not be so bad, just assume it is for now and get the best deal you can.

Once again, Good Luck.

[JohnB]

I know the members here will help wherever they can, so if the price is right, you might want to give it a try, but if the damage is as bad as expected, there is a used parts market, so you will probably not lose a fortune.

If you decide not to go forward, I would love to know where it is and who to contact so I can use it to finish my two projects. It will not die without saving a few more cars.

Best of luck whichever direction you take.

I didn't mean to sound negative when I suggested that you could sell the rear lamps for more than £200, but unfortunately that is the reality of M100 ownership. There are people out there who would rather see a viable Elan scrapped for lucrative parts than offer it for restoration. Sad but unfortuately true!!!!
Good luck whatever.
John.

[John_W]

... It originally went to the garage for gear change cables which haven't been done and has never moved since...
.... the garage owner says he is owned around £500 storage !!!!
... What does anyone else think ?

I think that the garage owner is owed absolutely nothing for storage as he has completely wrecked the car.
Sorry, but that's a breaker.
John

[Faraday]

Hi Hannu, have to agree with John, having seen the pics you posted, that makes my barn find look like it was in showroom condition when I got it. Really don't think you should attempt that, it will cost an arm and a leg in parts, but if you do, then I take my hat off to you for saving one more Elan.

[Brit-Car-Nut]

Hannu: Let us know what you decided! Are you going to buy it? Have you had a closer look at the suspension and body? Any more pictures?