The M100 Elan is not a bad car. In fact, it's a really good car. The turbocharged 4 cylinder Isuzu engine moved the Elan to 60 MPH in 6.7 seconds. (It's also a reliable engine, something Lotus was never previously known for.) Its handling, although very different from the tail out style of handling the original Elan had, was incredibly good for a FWD car. (Let's face it, Lotus knows how to make cars handle no matter where their engines are or what wheels are driving them.) All-in-all it was a comfortable, well laid out, dependable, but expensive sports car. As good as it was, the Elan wasn't right for the market.
Elan prices have started to creep up over the past few years, but they still remain a relative bargain. Parts are sometimes expensive and not always easy to come by, but the M100 Elan is well built and you're not often buying parts. Common problems include gas tank leaks (a crack develops between the filler neck and the tank) and faulty cam angle sensors (a cheap and easy fix). The timing belt needs to be changed every 50,000 miles.
All-in-all, this appears to be an honest old Elan. If you take care of it, you could drive it for many, many years and still get your money back (at least) when you decide to sell it. Me? I'd probably just keep it forever.
click here to see the eBay listing.