Used car buying guide: Lotus Elise S2

Two years later, in 2006, came a key event in the S2’s life: the demise of the K-series engine. The new entry-level model, the Elise S, was now powered by a 134bhp 1.8-litre Toyota unit. Other changes included the fitting, as standard, of ProBax seats, LED rear lights and Yokohama AD07 tyres (a big improvement on the harder Bridgestone Potenzas originally fitted). A supercharged S2, badged SC, landed in 2008 with 219bhp. This plus the aforementioned 134bhp S and 190bhp R models underpinned the S2 line-up until the arrival of the S3.

Early versions of the S2 are known as ‘long roofs’ for their, well, slightly longer roofs. In 2002, this was replaced by a shorter roof. Both roofs are easier to operate and more watertight than the S1’s but the shorter roof is more watertight still since it was developed for the VX220.

Desirable S2 extras include a sports exhaust and upgraded brakes. Good S2s that have been garaged and cherished are becoming harder to find, and with the Elise now no longer made, prices are sure to rise. Buy now before they do, and if you don’t have a garage, protect your S2 with a good-quality, breathable car cover.

How to get one in your garage

An expert's view

Barry Ely, Barry Ely Sports Cars: “I’ve been selling Elises since 1996 when the S1 came out but, for the money, the S2 is the best driver’s car you can buy. The Bilstein sports suspension is so good that S1 owners replace their Koni set-ups with it. The S2’s composite body is a liability, though, because it absorbs moisture. My favourite S2 is the 160bhp 111S: the performance of the K-series engine is very progressive and the close-ratio ’box is really sweet. At the moment, an S2 is better value than an S1, whose prices are being talked up by purists simply on the basis that it’s the original. I’d take a good S2 any day.”

Buyer beware...

■ Engine: Despite the rumours, the K-series head gasket is generally trouble-free but check the dipstick for white gunk anyway. The K-series cambelt should be changed every 36,000 miles or four years. (Toyota engines use a chain.) On K-series radiators, examine the plastic end tanks for leaks.

■ Gearbox: K-series S2s experience few clutch problems, even in track use, although listen for bearing noise. Clutches on Toyota-engined cars can self-destruct. The same cars can suffer with sticky third gear selection.

■ Suspension and brakes: Check the front upper wishbone pick-up points for galvanic corrosion where they attach to the chassis. It’s impossible to repair and is often the reason S2s are written off.

■ Body: Check the fit and alignment of the chassis and glassfibre bodyshell. Examine the single-piece front clamshell for cracks because repairs are expensive. Inspect the body for blistering caused by moisture sweating out of the composite body. Check the hood since new ones aren’t cheap (long roof £1560, short roof £1080).

■ Interior: Make sure the air-con works since the jointed aluminium pipes can leak badly. Expect the sills to be knocked about. Some early S2s had the S1’s bonded floor mat. Iron filings contaminated the mat and together with moisture cause galvanic corrosion of the aluminium floor.