1992 Lotus ELAN M100 SE Turbo

As a series 1 Lotus Elan, this is one of the originals, albeit one that benefits from a number of performance upgrades and modifications from the later series 2 model. These were carried out by the previous owner, who was a Lotus enthusiast and clearly a man of impeccable taste. The modifications he made are well accepted in the Lotus community, very discreet, and easily reversible; as such, this example combines the best of all worlds, making it attractive to both the collector/investor and the keen driver.

Having been in the vendor’s care for the past eight years, it has always been kept snug in a heated garage on a trickle charger. It has never been used in the rain and has been “so, so reliable, always starting on the button”. He then added, with a grin, “it goes like a rocket!”

Which seems like a good place to start telling you more. 

Having a glassfibre body there’s no rust to worry about of course, and Lotus had clearly got its eye in by the time it started building the M100 Elan because the panel gaps are tight and even, and the flanks are free of the sort of ripples that we all used to accept as being unavoidable. Sure, the Calypso Red paintwork has accumulated some swirl marks over the years but a decent machine polish should eradicate them all, leaving only the odd minor mark to mar what is a very good finish.

A neat little boot spoiler helps keep the Elan’s rear end firmly planted at high speed, and it sits above a ‘911’ number plate. Clear front and rear lamp lenses give the Elan a modern, clean look.

The BBS 16-inch alloy wheels might look tiny to modern eyes, but that’s the way the world was back-in-the-day. They’re in great shape too as they were replaced in 2007 with a new set that would have originally been destined for a series 2 Elan. And, they are shod with matching Toyo Proxes tyres, which is always the sign of an owner who is prepared to spend the appropriate sum of money on extracting the very best from their high-performance car. 

If you look closely you can also see a set of red billet four-pot brake calipers peeking out from behind the front wheels; supplied by Hi Spec Motorsport, they stop the lightweight Lotus even better than the originals as they’re supported by larger discs, EBC Green brake pads, and Goodridge braided brake hoses. Spirited drivers will appreciate these modifications, especially if they intend to exercise their new Elan on a track.

The black folding roof is in very good shape, and fits well. There are a couple of worn areas but it still appears to be water-tight, which is more than can be said of anything that left Norfolk in the sixties…

If we are being picky, the centre caps on the wheels could do with replacing but that’s more an indication of how good the rest of the car is than a condemnation of their condition. 

And, if you’re really struggling to find something to do to occupy a spare couple of hours, then the screws that hold the rear valance on are a bit rusty, and the short, upper door seals are starting to perish.

The red and black interior is very of the period. This is a good thing surely, because if you’re going to drive a modern classic then you want it to look like one, don’t you?

The part-leather seats, which were taken from a later series 2 car, are in good condition with only minimal patination and creasing to the leather edges. The cloth centre section could do with shampooing, but the only real wear is a scuffed area on the rear of the driver’s seat (please see photo) where the seatbelt has been rubbing. This wear is almost completely restricted to a sacrificial screw-on protective panel, so rectification should be straightforward and cheap.

The dashboard is clean and hasn’t been ‘modified’ with any extraneous accessories. The white-faced Lockwood dials might not be original but they are beautifully simple in design and lift the feel of the cockpit.

The red and black door cards are in great shape, and feature some delightfully retro pleated door pockets. The wide centre console plays home to the switches for the electric windows and the adjustor for the electric mirrors, which on a quick check seem to work on most directions. A modern stereo and uprated JVC speakers have been fitted.

The boot is clean and tidy, and home to the spare wheel, Lotus toolkit, plus some other bits and bobs including a spare pair of sun visors.

The only other issue is some scuffing to a small area behind the driver’s seat, but this is only really noticeable when the seat is folded forward. 

The suspension is by way of adjustable coilovers. We’d normally suggest that no-one knows more about handling than the boffins at Lotus but time moves on, and technology improves exponentially as the years roll by. Originality is all very well but if you want to make the most of your Elan then you are going to need to tweak it judiciously, something that legions of enthusiasts and suppliers will help you do very discreetly. As is the case here, in fact.

The Lotus also benefits from a performance stainless steel exhaust and a BBR R-Boost conversion for the turbocharger. These modifications have raised the power output to around 195bhp, endowing the Elan with performance that was unheard of when it was new. Just as importantly, the chassis and braking modifications ensure that the little Lotus handles and stops as well as it goes.

The engine bay is very clean and tidy. Dominated by the turbocharger (which is helpfully labelled) and the valve cover (which proudly wears the inscription ISUZU-LOTUS) the legend ‘DOHC 16V’ makes an appearance at the rear of the engine bay too, which is a wonderfully nostalgic touch now that every modern engine is hidden behind a cheap plastic cover; like Victorian brickwork and Bakelite light switches, things like this are a reminder that manufacturers used to take a pride in doing things properly.

The underneath is straight, although some of the paint and underseal on the metalwork has peeled away leading to minor surface corrosion. This would be another nice little job for a winter’s evening with the heater on and a glass of something warming to hand.

The online MOT history shows nothing of concern whatsoever; in fact, it’s just passed a new one with no advisories. The MOT certificate itself runs out in July 2020. 

The car comes with a number of expired MOT certificates plus a thick sheaf of invoices and bills in a ring binder that date back to the mid-nineties confirming the work that has been done to it over the years. 

It also has its original owner’s handbook in a Lotus wallet.

Please visit the documents section of the gallery of this listing where you will find photos of this and other paperwork to support our claim that this car has been modified and maintained to the very highest standard.

The M100 Lotus Elan still has a way to go before it is accepted as a genuine collectors’ Lotus. While it might drive brilliantly and be all but bulletproof in its reliability, nothing demonstrates classic car snobbery more blatantly than asking people to accept that anything with a front-wheel-drive chassis can ever be a proper sportscar…

This is, as we’ve shown, a ridiculous stance to take but one the canny Lotus devotee can take advantage of because it has kept prices way below where we think they’ll eventually settle; if an early Mazda MX-5 – which wouldn’t be able to tell which way the Elan went on any kind of twisty road - is now fetching five figures and more, then the Elan must surely be worth at least the same.

But, the market is where the market is and we can’t see even a good example like this fetching more than £5,000 to £8,000, which is a real travesty considering the performance, handling and dependability you are getting for your money.

Viewing is always encouraged, and this car can be seen here at The Market HQ in Abingdon; to arrange an appointment please use the ‘Contact Seller’ button at the top of the listing. Feel free to ask any questions or make observations in the comments section below, or try our ‘Frequently Asked Questions’.

If needed, please remember we have a network of trusted suppliers we work with regularly and can recommend: Classic & Sportscar Finance for purchase-financing, Thames Valley Car Storage for storing your car, AnyVan for transporting it, and Footman James for classic car insurance.

BORING, but IMPORTANT: Please note that whilst we at The Market always aim to offer the most descriptive and transparent auction listings available, we cannot claim they are perfect analyses of any of the vehicles for sale. We offer far greater opportunity for bidders to view, or arrange inspections for each vehicle thoroughly prior to bidding than traditional auctions, and we never stop encouraging bidders to take advantage of this. We do take a good look at the vehicles delivered to our premises for sale, but this only results in our unbiased personal observations, not those of a qualified inspector or other professional, or the result of a long test drive. 

Additionally, please note that most of the videos on our site have been recorded using simple cameras which often result in 'average' sound quality; in particular, engines and exhausts notes can sound a little different to how they are in reality.