To store or not to store?
Discussion
Quick query to canvas opinion on this. Mrs CVP and I may soon be off the the good ol USA for two years with work. The quesiton of the day is, do I store the Z4MC for two years or do I sell and take my kicking now?
On the for side of the storage option are the following;
a) I simply love the car, for me it's like the third bed in Goldilocks, just right
b) Storage would be about £4k for two years fully maintained so not cheap but manageable
c) If we move to a house with a garage then I may be able to bring it to the US
On the sell and get out side we have;
a) Who knows if we are going to come back? Sell now and I can use the cash released for our time in USA
b) Unlikely to have a house with garage for at least a year as will be New York based and going to try living in the city to start with.
c) It'll continue to depreciate whilst I am away so I'm just delaying the pain by hanging on
d) In the end it's just a car. When back in 2 years there will be lots of other second hands toys available like the 997 GT3 or RS4.
What would you guys do?
Chris
On the for side of the storage option are the following;
a) I simply love the car, for me it's like the third bed in Goldilocks, just right
b) Storage would be about £4k for two years fully maintained so not cheap but manageable
c) If we move to a house with a garage then I may be able to bring it to the US
On the sell and get out side we have;
a) Who knows if we are going to come back? Sell now and I can use the cash released for our time in USA
b) Unlikely to have a house with garage for at least a year as will be New York based and going to try living in the city to start with.
c) It'll continue to depreciate whilst I am away so I'm just delaying the pain by hanging on
d) In the end it's just a car. When back in 2 years there will be lots of other second hands toys available like the 997 GT3 or RS4.
What would you guys do?
Chris
Funnily enough, may soon be in a similar dilemma with my boxster - but will probably sell as I personally don't think the car is special enough to store and take a double hit on depreciation and storage costs. More likely and fun to but a car when in the states for a year or two (maybe even a good ol' pick up!)
I would sell now.
The car will still depreciate while in storage (Maybe at a lesser rate than selling right now, but depreciate it certainly will). If it was a classic or particularly rare then keep it but replacment will be aplenty when you return. Your money will be better off in the bank, that's for sure.
The car will still depreciate while in storage (Maybe at a lesser rate than selling right now, but depreciate it certainly will). If it was a classic or particularly rare then keep it but replacment will be aplenty when you return. Your money will be better off in the bank, that's for sure.
It boils down to two things IMO, how wealthy are you and how mentally stable? Common sense says 'Sell, sell, sell' but I say, keep it. The fact that I have recently purchased one myself may have something to do with my standpoint but I am steadfast and in fact I would re-consider my move abroad based on this position 
If I was in your position I’d sell without even thinking twice - It makes sense given the way they seem to have lost value.
My guess is that in two years (assuming it's a 2007 model) your car would be worth between 23-27k. Current trade values are around 29-33k, so the option to keep would cost you at least £6k, worst case is £13k!! in two years
Based on this, common sense would say SELL NOW!!!! However, as an enthusiast, i know exactly what your instincts tell you.... If cash isn't the problem then keep it.
Mind you I’m sure you could pick one up for half price in the states though......
My guess is that in two years (assuming it's a 2007 model) your car would be worth between 23-27k. Current trade values are around 29-33k, so the option to keep would cost you at least £6k, worst case is £13k!! in two years
Based on this, common sense would say SELL NOW!!!! However, as an enthusiast, i know exactly what your instincts tell you.... If cash isn't the problem then keep it.
Mind you I’m sure you could pick one up for half price in the states though......
Thanks all for your feedback it has clarified my conflicting thoughts on the matter. The majority are looking at this with a clear head and in strict cash terms getting out now and taking my pain immediately is the right thing to do. I then avoid additional depreciation, storage costs, insurance etc, plus it will give me cash to either play with in the USA or to use for a fun vehicle when I get back.
The other side is looking at this with a more emotional head on and that's where I was coming from to start with, this little car has really got under my skin and I'll miss it like crazy. I think in a few years people will look fondly back on this car. I seriously think it will become a very sought after machine. I don't think it will get the legend status of cars like the E30 M3 as it does not have that racing pedigree but it is a car that is more than the sum of it's parts.
In the cold light the conclusion must be he has to go.
Cheers
Chris
The other side is looking at this with a more emotional head on and that's where I was coming from to start with, this little car has really got under my skin and I'll miss it like crazy. I think in a few years people will look fondly back on this car. I seriously think it will become a very sought after machine. I don't think it will get the legend status of cars like the E30 M3 as it does not have that racing pedigree but it is a car that is more than the sum of it's parts.
In the cold light the conclusion must be he has to go.
Cheers
Chris
Gassing Station | M Power | Top of Page | What's New | My Stuff