Is the Elegy worth keeping?

both are very similar in my opinion (elegy and comet)
I think it's worth it

I find it's handy to keep hold of cars that are tricky to master, even if they're not on the pace of the top cars. After a long stint hot lapping cars such as the Elegy, it gives you better confidence and feeling in cars which are easier to drive. That's from my experience at least.

I'd say keep it.

Always try to keep your cars. You'll never know when you might need it for an event.

It would be wonderful if they increased storage space again.  I've been out of room on my primary character for months.

yep, its worth keeping

I still have mine because A.) It looks better and B.) it's nice to be the only one that doesn't have a Pariah in a race

Also, it just holds a legacy behind it.

I keep mine largely for nostalgia, but I'm also not yet in danger of running out of garage space. ymmv