Stick or twist | PH Footnote
Matt's 325ti is pretty much his ideal modern classic - so why does he want to sell?
After 16 months and 10,000 miles or so with a 325ti, I’m in a position I’ve never been before. Here’s a car that owes me nothing (having spent a bit more than expected), isn’t worth very much, still works brilliantly and - perhaps most importantly - continues to bring me a lot of joy. And yet I’m thinking of selling it.
To a non-car person, that position will sound ludicrous. I’ve probably spent at least what the Compact cost on maintenance and upgrades, money I’m never going to recoup should it be sold. Another car is likely going to require more outlay, because I’m fussy. And imagine getting rid of a car that works just fine, and suits your requirements pretty much down to the ground. Objectively, it seems daft. But then we’re car people, so hopefully that predicament doesn’t.
Put most simply, there are so many other cars I’m desperate to try while there’s still chance. And can still just about afford the VED. The BMW has done everything I’ve required of it and more, from nursery to N24, and it’s been brilliant, but it’s hard to see what else could be done with it without spending a lot more cash on it. The obvious upgrade would be to another weird-looking BMW hatch with a straight six, but I’m desperate to try something different; four or five doors would make sense as a backup family car, even if the prospect of squeezing two child seats into a two door holds some strange appeal. Some days I think I’m on the brink of a mid-life crisis.
The job doesn’t help this obsession with changing a car that doesn't need to be replaced. We’re always scouring the classifieds for interesting cars to write about, and so interesting cars to buy inevitably crop up. As new cars get less and less interesting (and more and more expensive), so the old ones appeal even more. The forum is full of courageous souls who took the plunge on a dream machine. Ben Lowden buys a new car most months. Temptation is never far away.
The parking is alright at the house, I have some no claims behind me now, and the summer with the Boxster demonstrated what great people are out there in the car community. As if I didn’t know already. If I simply ignore the money already spent on the BMW and raising the funds for a replacement (let’s call it man maths for the moment), the timing looks ideal.
And have you seen what’s around at the moment? It’s easy to be a bit despondent about new and used car values, but I think good buys might still be out there. Especially if the only criteria are fast, fun, and not another BMW. An RX-8 continues to appeal with a rotary specialist 20 minutes away, and this two-owner car is £5k. There are Jaguar XFs with the 5.0-litre (and loads of history) for £8,000. Remember the Peugeot 308 GTI? With Alcon brakes, 270hp and a limited-slip diff, for less than £10,000. Don’t forget the V8-powered Audi S4 and S5; both still look great, and can be had with six-speed manuals, for a four-figure sum. And I’ll think about the bills another time.
It’s a lot to ponder. Does fortune favour the brave, or do you not know what you’ve got until it’s gone? As good examples of interesting old cars seem fewer and farther between, does it make sense to take the plunge before it’s too late, or play it safe with what’s already a very likeable (honest) modern classic? Will I miss having a manual gearbox? Is it possible to fund both a nursery place and a V8? I’d love to hear what you’ve done in similar situations, or what you’d do in my shoes. Replacing the devil you do know with the devil you don’t looks daft - but since when did being a car obsessive ever make sense?
Where would you sit then?!
In a vaguely similar position myself, there is space on the driveway for a second occasional use family car. So anything with isofix and under £5k is on my radar, from Abarths to V8 L322s to X350 Jaag XJs to Cooper S to E90 325is to etc etc etc
However, it was objectively a total basket case. I cannot stress that enough - it leaked - both rain water into the car and coolant out of it. The coolant out the car cost loads to fix and the water in was never fixed. The clutch went. The alloy wheel was porous so you'd always be checking the tyre pressures. It did have a good chassis balance and I even managed a track day in it, but honestly, it was bloody awful. I sold it about 18 months later for £1000 and i was happy to see the back of it.
So, buyer beware, not all these old cars are good!
Financially it has been the right thing to do, the mortgage will be paid off in the next 6 months, but I have no idea how long I will be able to resist once that is done. My wife believes a new kitchen is the number one priority, but I would really like a Cayman. or a Caterham. or a 70s 124 Spider. or something American and V8.
A car on which you have spent the purchase price again on repairs and maintenance doesn't fit that definition.
Perhaps you mean "I could sell it for what I have spent so far". But if that is the case it owes you that amount until you sell it, or use it for years.
However, it was objectively a total basket case. I cannot stress that enough - it leaked - both rain water into the car and coolant out of it. The coolant out the car cost loads to fix and the water in was never fixed. The clutch went. The alloy wheel was porous so you'd always be checking the tyre pressures. It did have a good chassis balance and I even managed a track day in it, but honestly, it was bloody awful. I sold it about 18 months later for £1000 and i was happy to see the back of it.
So, buyer beware, not all these old cars are good!
A car on which you have spent the purchase price again on repairs and maintenance doesn't fit that definition.
Perhaps you mean "I could sell it for what I have spent so far". But if that is the case it owes you that amount until you sell it, or use it for years.
I bought a car recently at bottom end of the market for them, I'm likely to spend a few thousand repairing it next week. It will forever owe me that repair money back in my head because of all the aggro it's caused, and it probably never will financially when I sell it.
A car on which you have spent the purchase price again on repairs and maintenance doesn't fit that definition.
Perhaps you mean "I could sell it for what I have spent so far". But if that is the case it owes you that amount until you sell it, or use it for years.
I bought a car recently at bottom end of the market for them, I'm likely to spend a few thousand repairing it next week. It will forever owe me that repair money back in my head because of all the aggro it's caused, and it probably never will financially when I sell it.
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