1975 Lotus Elite

1975 Lotus Other Description

1975 Lotus Elite 503
This is the car Colin Chapman wanted and was the last road car where he had significant design input. The Elite, a sports GT car that seats four in comfort, gets 25 mpg, corners like a slot car, has a top speed over 125 mph and cost about $15,000.00 new. (in fact It was the most expensive 4 cylinder car of its time)
Lotus only built 2535 of these cars between 1974 and 1982. This is a Series 1 car.
This particular car has been off the road and parked far too long and needs someone to take it to the next level and give it the love and restoration it deserves. After sitting parked for about 25 years in a few different driveways before I bought it and decided it was worthy of a restoration. I have done a lot of the hard mechanical work required in an effort to make it road worthy but it still needs more in my opinion.
- Flushed and replaced all fluids- New brake cylinders, hoses and pads (rear diff was removed to do this)- New timing belt- New fuel pump- New shifter linkage- New sway bar to lower control arm bushings- New 205/60R14 (factory size) tyres- New Interstate Battery
It has had the rear bumper replaced with the European style and the European front bumper is included but has not yet been installed (see picture)
The Good:The Lotus 907 engine starts right up, sounds great, has 60 psi oil pressure cold and 40 psi steady when hot. (a sign of a good engine) Once warmed up it maintains a steady 150 degrees temperature.
The 5 speed Lotus transmission sounds good and shifts smoothly through all the gears.
The headlights work as they should.
The power windows go up and down smoothly.
There is NO rust on the frame.
The original wheels are perfect as they were recently restored.
The dashboard is in very nice condition (no cracks)
The Bad:This car needs cosmetic help.
The paint is chipping and peeling in places due to a poor quality respray a long time ago.
The interior needs upholstery work as both seats have deteriorated where the sun hit them. The driver seat is worse then the passenger but they both need help.
This car is NOT as nice as the pictures make it look. There are a lot of things that would need to be repaired during a restoration of this car depending on how perfect you want it to be.
I have driven this car just a few miles and would NOT expect it to be driven home or any long distance without a complete mechanical assessment.
Summary:Overall this is a fairly good car with the potential to be a stunner if someone would do the restoration. There aren't too many of these left and once restored would be fun sports/touring car and a hit at any British car show.
I'm testing the waters here... to see if anyone is interested... If it doesn't sell I will eventually restore it. Black and Gold - Like a John Player Special.
Please ask any questions - I'm happy to answer or provide additional pictures. Also to Note; I just realized I currently only have the Bill of Sale and have not applied for a state title yet this may take a few days. I will provide whatever documentation you need before completing the sale to you.
See a video of it running and driving here: https://youtu.be/--QVDtpJ2Tw

Thanks