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Lotus Elite 501 Easy Restoration Project For Sale (1976) edit C115065 | | | 1976 Lotus Elite 501
Restoration Project/Spares donor
Introduced in 1974, the new generation Elite took its name, but unfortunately not much else, from Colin Chapman’s iconic and highly successful original. It was Chapman's attempt to move Lotus upmarket and away from the "kit car" scene, it was the first Lotus model not to be offered with the option of "home completion". This demonstrates just how flawed Chapman's idea of "up market" was, even long before DeLorean and the drug smuggling days.
Still retaining a central backbone chassis, the new car was considerably larger than any previous Lotus with its 98-inch wheelbase. Styling was very much in the 1970’s "wedge" idiom with a glass hatchback and the obligatory retractable headlamps which often worked for as long as six weeks after delivery. The five-speed transmission was standard with an automatic (see - Lotus is an up market brand now) option also listed. A full four-seater, the Elite was remarkably practical for a sporting car, with power courtesy of a 2-litre Vauxhall-based twin OHC engine, giving a top speed of 125+mph. These were spectacularly exciting and futuristic cars back in the 70s, really exotic. Here is your chance to own some 70s exotica
This car is a 1976 Lotus Elite 501 Automatic in need of some restoration and renovation. It shows 45000 miles and the HPI check indicates 6 previous keepers. The car was on the road in 2008 - it was last taxed in 2007 - so it must have had an MoT in 2007.
It starts and runs well, the Lotus 907 twin cam (not the Kent based one in the earlier Elans etc.) engine is obviously in very good order with no rattles or clattering. Any purchaser can hear the engine running before buying. The engine alone would appear to be worth in the region of £500. The twin 45 Dellortos make a superb induction noise. Based on the engine, the indicated mileage of 45000 miles may well be genuine. It has excellent and immediate oil pressure, the alternator appears to be charging and it holds its temperature OK. The exhaust is blowing, and it looks like it may need re-securing. It also looks like it is a stainless steel exhaust.
It drives in all gears and it changes gear smoothly and without drama. The brakes stop the car from running into anything and turning the steering wheel sees it pointing generally in the correct direction. It is complete and the bodywork is undamaged. There are 5 of the, apparently very rare, genuine wheels and the tyres appear to have good tread and hold air.
The interior again appears to be more or less complete, but will need work, there is no headlining and it is dirty/tatty in places.
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Pretty much everything appears to work. The pop up lights obviously don't work, and I suspect that it's a vacuum related issue. http://www.lotusbits.com have a good selection of spares for these at reasonable prices.
It was stolen and recovered and at the moment, I have no history and I have neither keys nor a V5, though I obviously have title from the salvage yard where it was purchased. Please note that this car is HPI clear. It is unrecorded. No VIC check will be required and if any purchaser wishes to wait until a V5 is issued before paying in full, I'm quite happy with that so long as a substantial deposit is paid.
There is no MoT. There is no VED. The car is sold as a restoration project or for spares. It will require to be trailered away. I can deliver for any purchaser at a special price in view of your purchase of this car. The car is available to view in Central Scotland by appointment. It's on at £1.00 start and no reserve, I'd prefer to see the auction run its course and I'm certain that I'll get more for it breaking it for spares. I don't want to do that, but at the end of the day, business is business, if it's not selling, it'll get broken.
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