Saleofcar.com :Lotus

Lotus Other SE (1991)
for sale

Price: US $8,000.00

Description:

One of 554 sold by Lotus in the US for 1991, the only model year produced for Federal import. Designed by Peter Stevens, who also designed the McLaren F-1 and Jaguar XJR15. Turbocharged and intercooled 1, 588cc Four valve engine with 5 speed full syncro transaxle. 162 HP 0 – 60 in 6.6 seconds. Lotus’s only front wheel drive vehicle to date. $39, 990 New.
This Lotus Elan, known as the M100 amongst Lotus enthusiast to differentiate it from the early Elans, was built to Allow 100 per cent of its owners to use 90 per cent of its performance 90 per cent of the time. Introduced in the UK in 1989, the Elan was the first all-new Lotus since 1975 and is the Last True Convertible built by Lotus for the Street.
Extract from classicandperformancecar.com/lotus/elan:
The front-wheel-drive Elan was so over-engineered that Lotus never really stood a chance of making any money on it. Indeed, just to break even the firm would have needed to sell twice as many cars each year as it actually did. The whole episode was partly responsible for General Motors getting rid of Lotus in 1993 and the restart of production under Bugatti. Such over-engineering is great news if you fancy dipping your toe in the Lotus waters, but don’t want something older and potentially more fragile.
Autocar magazine: “the quickest point to point car available”.
Total worldwide production from 1989 to 1995 was 4, 655. General Motors owned Lotus at the time of development and the M100 went through testing and development unheard of in the British industry. Turbo engine and trans was sourced from GM partner Isuzu.
Recent work includes GAZ adjustable platform shocks, new window glass door seals. In the last three years: Timing belt replacement, new spark plugs & leads, right front lower control arm, right upper & lower ball joints, CV boots, interior retrim, upgraded front brakes- Saab 93 front calipers, Subaru Outback disks, Everest CPU chip, RC Engineering injectors. Hankook Ventus V2 tires.
Mods: Alpine audio unit with amplifier in trunk, TomTom type GPS unit on dash, IPod connected to radio, Metal Monkey silver face gauges, dark silver wheels, rear strut bar to stiffen shock towers, LED front & rear marker lights.
Exterior paint is in great shape for a driver, not show car. Several flaws could be addressed. Seats have been redone in red and black.
Mechanical needs: Low compression on #3 cylinder. Clutch needs replacement. Rear suspension arms and one front arm need replacement (parts included), A/C doesn’t work (low mileage compressor included), Gearbox needs overhaul. Power steering groans.
Includes: used rear wishbones, new front pre-catalytic converter replacement, tool kit, rain cap, used air conditioning compressor, used left front control arm.
Too many projects for owner with three other British cars. This is half the price of an M100 when repaired and you would have the satisfaction of doing the work yourself!
Clean Florida title.
RUNS & DRIVES. I drove it 770 miles one way when purchased in 2016.

_{update: 2018-07-05}