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1976 Lotus Elite Type 75
2dr Coupe
4-cyl. 1973cc/155hp 2x1bbl
#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good
$10,200*
0%
#4 Fair condition#4 Fair
Jan 2025
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1974-1982 Lotus Elite stats
Highest sale
$17,360
Lowest sale
$1,175
Most recent sale
$6,050
Sales
18
Photos
6 photosImages may not reflect selected vehicle.
Past sales
$6,050
1974 Lotus Elite Type 75
Standard
North America
Oct 10, 2024Barrett-Jackson
View details
$1,343
1979 Lotus Elite Type 75
39460 K
Standard
Europe
Jun 4, 2024Collecting Cars
View details
$10,080
1974 Lotus Elite Type 75
35000 M
Standard
North America
May 25, 2024Bring a Trailer
View details
$4,350
1975 Lotus Elite Type 75
21000 M
Standard
North America
Sep 2, 2023Bring a Trailer
View details
$5,250
1976 Lotus Elite Type 75
70480 M
Standard
North America
Jan 17, 2023Bring a Trailer
View details
$17,360
1976 Lotus Elite Type 75
66328 MI
Standard
North America
Nov 18, 2022Broad Arrow Auctions
View details
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Model overview
Model description
Lotus revived the Elite nameplate in 1974 with the introduction of the Type 75 Elite. The car was the first in a series of three models intended to take the company upmarket in the 1970s, with the other two being the front-engine Eclat and the mid-engine Esprit. The new Elite was a front-engined 2+2 hatchback designed in the typical Lotus fashion, with a fiberglass body mounted on a steel backbone chassis and independent suspension all-round. The rear suspension was noteworthy in that it utilized half shafts that acted as the upper suspension link as well as having inboard drum brakes (discs were introduced later). Motivation for this new car was Lotus's own 2-liter, 16-valve I-4 type 907 motor with 140 hp in U.S. trim. While the Elite was the first Lotus street car to use this motor, it had already seen use in the earlier Jensen-Healey convertible.
When introduced, the Elite was praised for its handling, comfort, utility, and design, but was criticized for reliability issues fairly quickly. This lackluster reliability was only further accentuated by the car's relatively high price and controversial kamm-tail styling. Lotus soon introduced different equipment and trim levels for the Elite with two of the noteworthy ones being the 503, which included power steering and air conditioning, and the 504 that offered a first for a Lotus: a Borg-Warner three-speed automatic gearbox. By 1980 the Lotus Elite benefitted from a galvanized chassis as well as a power bump in the form of a 2.2-liter version of the 907 motor, now called the 912. This improved Elite never came to the U.S. after Lotus's American importation agreement with Rolls-Royce was dissolved that same year.
With the previously mentioned criticisms noted, today the Elite represents a beautifully handling and relatively inexpensive way to get into four-seat Lotus ownership. Like many mid-1970s British cars, the Lotus Elite may require maintenance and parts sourcing at times, which can be expensive. The car, however, is quite affordably priced so as to lessen these pains.
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Common Questions
The value of a 1976 Lotus Elite Type 75 can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $10,200 for a 1976 Lotus Elite Type 75 in good condition with average spec.
The highest selling price of a 1976 Lotus Elite Type 75 at auction over the last three years was $17,360. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.
The lowest selling price of a 1976 Lotus Elite Type 75 at auction over the last three years was $5,250. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.
In the last three years there have been 2 1976 Lotus Elite Type 75s sold at public auction.
The most recent auction sale of a 1976 Lotus Elite Type 75 was $5,250 on January 17, 2023 by Bring a Trailer.
Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.
Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.
Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.
The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.