Sell or keep as investment?
Discussion
I have this up for sale and I am just wondering if I should keep it as an investment? I have another chimeara to use for fun and have room in the garage to keep this car so it would sit and hopefully appreciate in value? What's the general opinion? Presuming I should still service it every year to keep it in good condition and keep a record of the miles etc. I'm thinking maybe I shouldn't referb the chassis ( it's not bad) and seats as I won't get my money back for a longer period of time.
Thanks
Rob
Thanks
Rob
Seeing as there is a '95 chimaera in the classifieds with the same reg as his user name and is in the same Cambridge area...
I won't put a link because I'm not sure he's supposed to plug a sale this way.
I'm sure there will be many opinions on the price but the lack of power steering will be an issue for many, whether you sell it now or in years to come.
I won't put a link because I'm not sure he's supposed to plug a sale this way.
I'm sure there will be many opinions on the price but the lack of power steering will be an issue for many, whether you sell it now or in years to come.
If you really want to start a profitable business using a second TVR, you need to buy low mileage good example(s) in good colours cleverly in the depths of November/December, and sell at the top of the market in May/June. I'm not totally convinced that just keeping a Chim for several years will actually do the job for you, as it may cost you a fair amount recommissioning the car when you do sell it.
Sorry for being a donut and forgetting the link, http://www.pistonheads.com/classifieds/used-cars/t...
Point taken qbee, it's not really for business but I do want to recoup my investment as much as possible so if I don't part with it this year I'll keep it til May/June as you say. I had no issue with the lack of power steering but I do understand it is a good selling point. I brought this as a entry level car and spent a few pounds on it and I do understand I won't get back what I have spent, I quess what I'm trying to say is I want to do the best I can as I'm not in a rush to sell it, I have the space to store it and have a new car to replace this one.
I suspect you'll spend more in service/maintenance than the appreciation.
If you really want it as an investment, then you have to think - what makes this car more special than the rest, which are only appreciating slowly?
You would need a very low mileage, mint (ideally original) condition model which you then keep in good conditions, paying to have it serviced so that there is a complete logbook, regardless of mileage. You need every receipt the car has ever had and, ideally, stuff like the original purchase receipt etc. Otherwise you have, at best, a 'good example' - which will only ever be worth so much.
If you think about cars being auctioned off at Bonhams, they all go on about provenance, history etc - and are in mint condition through and through, loads of paperwork and very few miles. I realise that you're not thinking of selling the car off for £250k but the principles of car investment still apply.
Otherwise, the average car will only appreciate slowly - perhaps £5k in 5 years, and in my opinion the bills will comfortably outstrip that.
The converse is that you park it in the garage for a few years, don't service it, and then recommission it. I think this is fine if you are putting it away for 10 years, but a car that hasn't been driven (or serviced) for 2 or 3 years does not carry any real premium - in fact, the opposite for me. I would be very nervous of such a car.
Rich
If you really want it as an investment, then you have to think - what makes this car more special than the rest, which are only appreciating slowly?
You would need a very low mileage, mint (ideally original) condition model which you then keep in good conditions, paying to have it serviced so that there is a complete logbook, regardless of mileage. You need every receipt the car has ever had and, ideally, stuff like the original purchase receipt etc. Otherwise you have, at best, a 'good example' - which will only ever be worth so much.
If you think about cars being auctioned off at Bonhams, they all go on about provenance, history etc - and are in mint condition through and through, loads of paperwork and very few miles. I realise that you're not thinking of selling the car off for £250k but the principles of car investment still apply.
Otherwise, the average car will only appreciate slowly - perhaps £5k in 5 years, and in my opinion the bills will comfortably outstrip that.
The converse is that you park it in the garage for a few years, don't service it, and then recommission it. I think this is fine if you are putting it away for 10 years, but a car that hasn't been driven (or serviced) for 2 or 3 years does not carry any real premium - in fact, the opposite for me. I would be very nervous of such a car.
Rich
QBee said:
You could do a power steering upgrade, its not difficult, but I would doubt that you will recoup the cost. There are people out there who actually look for non-PAS cars. MAke a selling point out of it. After all, a true TVR driver shouldn't be going that slow that it matters.....
Good point Qbee, I didn't and don't want PAS. Unless you do much of your mileage doing 3 point turns or damp track days, who needs it?
Parking a car with wide tyres but no power steering is VERY hard. That's why TVR only put 225 profile front tyres as an option on cars with PAS. With 205s, it's probably maneageable.
That aside, I once drove a friend's 1990 Esprit Turbo with no PAS. (215s on the front I think) Ridiculously hard to turn the wheel at low speeds. If stationary, impossible.
That aside, I once drove a friend's 1990 Esprit Turbo with no PAS. (215s on the front I think) Ridiculously hard to turn the wheel at low speeds. If stationary, impossible.
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