So, I went to test drive a Caterham 7 yesterday...

And all I can say is:

My wife very sensibly nixed the purchase of the cheaper of the two as it looks more like a project-in-waiting whereas the more expensive one that I drove actually looks and feels like a brand new car.

Only downside of that is that the newer one is a bit outside my cash purchase budget so I need to see if I can throw together some affordable financing for the rest.

And in typical GRMer fashion, if I end up with the more expensive one we've already identified some more parts that need to go on it like a FIA-spec rollbar instead of the regular street one and a set of lower seats so I can actually pass a broomstick test.

Have you considered shopping for a Caterham 7 CSR version that would have those things in place already? Plus better suspension and stiffer chassis. Since you plan to finance... what is a little more up front?

The CSR is big, though. It was an idea that never really caught on, Caterham still uses the original size chassis for their flagships.

Excellent!

In reply to Giant Purple Snorklewacker:

It's actually a lot more upfront - the one I'm considering is a bit over $30k and I haven't seen CSRs below $40k+ in similar condition. Not to mention that with my skill level, the one I was looking at with its stock Zetec is plenty for me.

It was a case of "hmm, this doesn't seem to be any quicker than a stock Miata", followed by "I wonder what happens if I actually use the right pedal". Resulting in "Squeeeeeeeeeeeeeeeeeeeee... Someone trying to rip the glasses off my face". Needs goggles.

Pics or it didn't happen.

so the guy finally dug them out of the corner?

He had the one that needed a new fuel pump up and running a few weeks ago, but emailed me via craigslist's email relay on an expired ad, so the email never made it to me.

I had pinged him on the off chance of a communications breakdown and was pleasantly surprised that it was actually running and ready for a test drive.

Hrmpf. First snag hit - looks like I can't get "regular" car financing via my preferred source (penfed.org) because they class it as a kit car. They'll normally lend on pretty much anything with wheels if it's assembled by a proper manufacturer, but cars classified as kit cars are personal loan territory at four times the interest.

Get personal loan, pay off with 0% CC balance transfer?

That's kinda of the idea I'm mulling about - get a personal loan, get the car, sell the MR2 to pay off a very big chunk of the loan, put the rest on a 0% transfer, pay off quickly.

DO IT!

Are you trying to enable me?

I would enable you, and I have a fake 7. Do it!

I've been having wet dreams of an f20c powered 7 lately.

If you can manage to afford the road ready car, you'll have much more time to make the smiles per dollar ratio off the charts.

The idea is definitely to buy a car that doesn't need work (already got those). After all I can't get any agreement from my wife for another project. I'm trying to reduce the number of vehicles to a more manageable level, which implies that I have to have more vehicles that work...

Even with the payment on the personal loan I can afford the road ready car if I can get its price down to where the realistic comps are, judging by the price they sell at over on USA7s. At this point in time the car looks to be about $4k overpriced for what it is, plus I already know I need another $2k in parts.

I need someone to live vicariously through.

Try lightstream. They are owned by suntrust and we're super easy to deal with on my chevelle. They did not require an appraisal on a classic car and I financed the chevelle (classic car loan) at 2.9 % for 5 years. It's worth a try...

Or JJ Best Banc, set up specifically to lend on classics, hot rods, and kit cars.

Do it. I really want one after spending a day driving around Scotland in one:

You're not helping my lust for a super 7 clone.

Go get the thing and help even less.

If you get the Zetec, a SVT swap is an easy way to pick up 50 hp.

All cars need work. One that's essentially been built by a shop will definitely always need work. It's a bespoke build...

BoxheadTim wrote: Are you trying to enable me?

Of course I am!

docwyte wrote: All cars need work. One that's essentially been built by a shop will definitely always need work. It's a bespoke build...

This is especially true for Caterhams. They're fairly high maintenance, but they balance this by not being high mileage vehicles. I think the bushing in the A frame at the back is one of the trouble points.

Aaaaaargh.

Looks like someone beat me to making an offer on the car by about half a day as I haven't had a chance to talk to the CA DMV yet.

Plus, the offer is a bit higher than the one I was willing make .

So unless I can convince my wife that the idea of the project-in-waiting actually isn't that bad an idea, we're back to the drawing board.

Honestly I think you need to rethink your desires here. Based on your car history, I couldn't think of a worse track car for you than a Caterham. If you want something for the track that's going to be reliable and easy to work on, just do yourself a favor and buy the nicest E36 M3 you can find.

Sell all your other cars like the MR2 etc and go enjoy yourself!