I have a '68 +2 which is a daily driver (c6-8,000 miles p.a). Yes they are reliable…after you have fixed all the bits that fail, and maintain other bits religiously…
With regard to the car in question, no-one seems to have asked if the car runs, or has been turned over regularly. Has it? If it runs, then fuel will have been passing through the system, mitigating the worst effects, however…the fuel tank may have collected a some water. replacements are not hard to find - Ebay. If the engine doesn’t run, or even turn over…big expense - 2k?. How big depends on your experience/contacts.
If the engine runs, take the cam cover off and check the top end for and signs of rust - if found, bad news (strip & at least clean + new springs), if not, give it an oil & filter change, and run it carefully for a bit, say 500 miles, then change the oil & filter again. I will probably be lynched for this advice but what the hell…One thing I have learnt with Loti is listen to the car carefully - if it sounds OK it generally is OK. Don’t take it to pieces to find out why it seems to be so quiet (unless the quiet is due to non-running).
Brakes - Calipers will probably need a full rebuild, along with at least flushing out the Hydraulics. Budget 400GBP, or do it yourself for less. Classicar Brakes is the easy way to a handbrake that works all the time, not just for MOTs…Servo may need a rebuild - 200GBP.
Electrics - clean all earth points, the rest should be OK (assume new battery).
Diff seals may have hardened - keep an eye out for leaks - Seals cheap, fitting not.
Shocks - may be OK at first, then start leaking - ditto above. New ones not that expensive.
Tyres - probably shot due to hardening of the compound - new ones (best you can afford) around 35-40GBP each. Clean and re-pack wheel bearings - cheap materials, 4-6hours labour.
I’m sure there are other odds and sods that could crop up, but hey…you want something interesting don’t you?!
All in all a viable proposition for daily transport, but don’t expect it to be so straight away. It has taken me 4 years and around 35,000 miles to find out I had the most shagged out +2 on the market…but it is now a useable proposition, if not the prettiest (all I need is the 5k for the bodywork) and I have had the pleasure of running a car which turns heads (if only to see where that bloody noise is coming from) and gives you pleasure every time you get in and drive it.
The car cost a lot in the first few years, but my modern Vauxhall Omega has cost a lot more in servicing and repairs in the same period.
Jeremy
PS join a Lotus club…any one, or even all of them!