Is the Lotus Exige a good investment?

The thesis

The Lotus Exige S2 is a lightweight (sub-900 kg), mid-engine track weapon with everyday usability, powered by a Toyota/Yamaha-designed 1.8L (naturally aspirated 187 hp or supercharged 217–260 hp). The naturally aspirated 'S2' models (2004–2006) are considered slightly underpowered but offer purity; supercharged 'S' versions (2006+) deliver 217–260 hp and stronger performance. Current prices range £20,000–£40,000 depending on spec and condition. The Exige holds value exceptionally well due to limited supply and strong enthusiast demand. It offers a more visceral, analogue driving experience than any rival at this price point, with hydraulic steering, manual gearbox, and zero driver aids. The market has not yet priced in the Exige S2's status as one of the last truly analog sports cars, making it early-cycle for appreciation.