Is the Lotus Elise a good investment?

The thesis

The Toyota-engined S2 Elise (111R 189bhp, 111S) represents analogue driving at its purest—sub-900kg, double wishbone suspension, no driver aids. S1 prices have climbed steeply; S2 'hasn't quite acquired modern classic gloss yet' but offers better reliability and usability. Entry from £18k, supercharged SC models £23–27k. Production ended 2021, driving nostalgia. Strong enthusiast base, low depreciation last 5 years. Niche but loyal exit market.