To sell or not to sell?
Discussion
Hi all,
I've had the t350t RR for about 6 years now and sadly it doesn't get the attention it did. We moved into a new place last year and spent most of our time since doing building works. Now the mrs is 3 months pregnant and we also have a small dog - how life changes! I don't/didn't need a car as we live 200m from a station in central London (where we get 1 parking space). However, we will probably need occasional use of a family car in six months when junior arrives. I'm thinking about selling up as the TVR seems more and more like a impractical and expensive toy to just own. I'd probably buy some old Japanese heap for £3-5k, putting the rest of the sale cash against the mortgage, which would really help with the longer term plan of selling up and sailing around the world in around 4-5 years time. Am I crazy to sell given prices seem to be going up? The car is basically mint with 42k miles and full dealer service history - all from STR8SIX since "the rebuild" about 6 years ago. What would you do? Perhaps I'm looking for an excuse to keep it. :-)
Mike
I've had the t350t RR for about 6 years now and sadly it doesn't get the attention it did. We moved into a new place last year and spent most of our time since doing building works. Now the mrs is 3 months pregnant and we also have a small dog - how life changes! I don't/didn't need a car as we live 200m from a station in central London (where we get 1 parking space). However, we will probably need occasional use of a family car in six months when junior arrives. I'm thinking about selling up as the TVR seems more and more like a impractical and expensive toy to just own. I'd probably buy some old Japanese heap for £3-5k, putting the rest of the sale cash against the mortgage, which would really help with the longer term plan of selling up and sailing around the world in around 4-5 years time. Am I crazy to sell given prices seem to be going up? The car is basically mint with 42k miles and full dealer service history - all from STR8SIX since "the rebuild" about 6 years ago. What would you do? Perhaps I'm looking for an excuse to keep it. :-)
Mike
Two things strike me:
1. You plan to sell up in 4 or 5 years to go sailing and;
2. You never saw things changing as they have to end up how you are now.
Bearing that in mind, if you can afford to put it into storage, I'd do that: you may well be in a position where you can keep the car by then (as in park it). I've a feeling you'll really regret selling it in the future if you do.
1. You plan to sell up in 4 or 5 years to go sailing and;
2. You never saw things changing as they have to end up how you are now.
Bearing that in mind, if you can afford to put it into storage, I'd do that: you may well be in a position where you can keep the car by then (as in park it). I've a feeling you'll really regret selling it in the future if you do.
Had to sell mine 18 months back for financial reasons..... Back on the lookout now.
As much as I missed it and still do, it was he right thing to do at the time. You will regret it and become bitter to those people you see out in there tvr's but I'm sure that does pass, but 18 months down the line and I am still jealous of those out enjoying there cars
But if I hadn't have sold it, I would not have been able to do what I have done over the past year. At the end of the day is your mind you need to make up
As much as I missed it and still do, it was he right thing to do at the time. You will regret it and become bitter to those people you see out in there tvr's but I'm sure that does pass, but 18 months down the line and I am still jealous of those out enjoying there cars
But if I hadn't have sold it, I would not have been able to do what I have done over the past year. At the end of the day is your mind you need to make up
Put it into storage...wait a few years and let it get dusty...before you head off sailing around the world advertise the car as an amazing barn find as this always seems to add value!
Seriously, I think the annual up keep costs will cancel out any increase in value so if it's not going to get used let some else have a go! As much as it will hurt to let it go.
Good luck with the sailing trip though - sounds like something you will to start planning for now?
Seriously, I think the annual up keep costs will cancel out any increase in value so if it's not going to get used let some else have a go! As much as it will hurt to let it go.
Good luck with the sailing trip though - sounds like something you will to start planning for now?
Thanks all for advice guys.
The TVR will almost certainly be sold before we depart. If we sell now maintenance costs go down and we can also reduce the mortgage so every month we make a bigger dent in the loan. I estimate that to be around £2500/year so £10k in four years. So I guess that's a sensible question - do you think it will go up by £10k in four years?
For those of you who are interested, the sailing dream is something we've been seriously planning in terms of steps we need to take. Aside from skill and knowledge the hard part is the finances:
1. Buying the right boat. (the easiest bit). Probably anywhere from £100-250k.
2. Having an income while away. ideally £1500+ per month.
3. Ensuring financial ruin does not occur when we stop sailing and return to bricks and mortar.
Financially, the plan basically involves smashing the mortgage until there's enough equity to release to buy a boat and investments to cover 1&2. 3 will be somewhat addressed by not selling the property but renting it.
If you want an idea of what it's all about, checkout this inspiring link:
http://www.bumfuzzle.com/adventures/
The TVR will almost certainly be sold before we depart. If we sell now maintenance costs go down and we can also reduce the mortgage so every month we make a bigger dent in the loan. I estimate that to be around £2500/year so £10k in four years. So I guess that's a sensible question - do you think it will go up by £10k in four years?
For those of you who are interested, the sailing dream is something we've been seriously planning in terms of steps we need to take. Aside from skill and knowledge the hard part is the finances:
1. Buying the right boat. (the easiest bit). Probably anywhere from £100-250k.
2. Having an income while away. ideally £1500+ per month.
3. Ensuring financial ruin does not occur when we stop sailing and return to bricks and mortar.
Financially, the plan basically involves smashing the mortgage until there's enough equity to release to buy a boat and investments to cover 1&2. 3 will be somewhat addressed by not selling the property but renting it.
If you want an idea of what it's all about, checkout this inspiring link:
http://www.bumfuzzle.com/adventures/
Nice looking car. Having been where you are 30 years ago, my thoughts are:
- You have no idea yet how much your world will change with a sprog on the way, whatever anyone tells you
- I personally doubt you'll be sailing around the world in 5 years, you'll be worried about taking him/her out of school
- Toys are good and help to keep your sanity, especially in those early and very demanding years
- I doubt your car will up £10K in 4 years, but it will go up
In the end I kept the Lotus Esprit Turbo I had at the birth of our first child, wasn't the sensible decision and added a 2+2 TVR Tasmin when he was old enough to travel in a child seat! Never regretted it!!
- You have no idea yet how much your world will change with a sprog on the way, whatever anyone tells you
- I personally doubt you'll be sailing around the world in 5 years, you'll be worried about taking him/her out of school
- Toys are good and help to keep your sanity, especially in those early and very demanding years
- I doubt your car will up £10K in 4 years, but it will go up
In the end I kept the Lotus Esprit Turbo I had at the birth of our first child, wasn't the sensible decision and added a 2+2 TVR Tasmin when he was old enough to travel in a child seat! Never regretted it!!
Englishman, quite possible that we'll never make the boat happen but we will still chase the dream until the wheels (perhaps inevitably) fall off. Schools in London are a real nightmare and or money pit - far worse than a TVR. I'm starting to think I should post the same thread on www.moneysaving expert.com too.
1 / A boat will be a bottomless pit of £ don't do it....
2 / Buy a Motor Home instead, the greatest bit of freedom money can buy, very child friendly and you can take it to many parts of the world far easier. £ 20 grand and much less will buy you a great van. Bolt on a tow bar and take the TVR with you.....
3 / Move out of dirty smelly expensive London to the suburbs for a far better and £ cheaper quality of life.
4 / I foolishly sold a 67 Series 1 E Type Roadster complete with factory hard top and a 66 E Type Coupe in 2008 for pea nuts....Still kicking myself.
TVRs will go the same way, the same way as 3 Litre CSLs ( that no one wanted a few years ago ) Panteras , Tigers, TR5 and 6s, MGAs etc etc.
5 / PM me for very reasonable store age.
2 / Buy a Motor Home instead, the greatest bit of freedom money can buy, very child friendly and you can take it to many parts of the world far easier. £ 20 grand and much less will buy you a great van. Bolt on a tow bar and take the TVR with you.....
3 / Move out of dirty smelly expensive London to the suburbs for a far better and £ cheaper quality of life.
4 / I foolishly sold a 67 Series 1 E Type Roadster complete with factory hard top and a 66 E Type Coupe in 2008 for pea nuts....Still kicking myself.
TVRs will go the same way, the same way as 3 Litre CSLs ( that no one wanted a few years ago ) Panteras , Tigers, TR5 and 6s, MGAs etc etc.
5 / PM me for very reasonable store age.
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