Selling P&J dilemma

[groucho]

I'm on my second M5 now and have loved them both. I've had M5s for just under 3 years, this one about 15 months. Here is the dilemma, I have recently moved house about 10 months ago, to a bigger house, if I sold the car I would probably put the money into some work I have to do around here, extensions...etc.

I can see me never having such a car again if I sale it and I don't think it's wise to upgrade in the near future.

So, do I keep it for a few years to come, in which time the value would have dropped significantly (prices seem to be tumbling at the moment) and I couldn't upgrade anyway?

Keep it forever? Can't see this happening personally.

Sale it soon and spend the money on the house and get a mediocre car? Trouble is I know I'd miss it in the extreme and pine to get another 500bhp beast of some description.

I think keeping it for another year is probably the best bet. What do you think a 57 plate, well specced M5 with around 30k on the clock be worth then?

Cheers all.

[rovermorris999]

Sensible head says sell it before it loses more value. There'll be even less money around for cars like this in a year's time. I had a similar dilemma a couple of years ago when buying a property and sold the car. I miss it a little but bought a track car instead when finances settled down.

[pilchardthecat]

Keep the car, your big fancy house will probably depreciate more in the next 12 months, so you'll need something to cheer you up

[soad]

Keep the car (will be missed massively), house extensions etc can wait.

[BriC175]

Newish cars will always depreciate quickly though! If you like modern cars, keep it. If you're not too bothered, maybe sell it and buy an E39 M5?

[XJ40]

I'd sell it and spend the money on a mediocre cheap-ish daily and a something nice that doesn't depreciate.

[groucho]

If I had to buy a rubbish car I probably wouldn't bother, I'd buy a new work van.

[jimxms]

Sell new-ish M5, buy old-ish M5, spend difference on extension, have almost as much fun without depreciation?

[poing]

Do you actually need to do the extension? If its something your wife wants then keep the car because you will resent her for giving it up for something you don't really want.

If you are having dozens of kids and need the space then sell the car.

[groucho]

poing said:

Do you actually need to do the extension? If its something your wife wants then keep the car because you will resent her for giving it up for something you don't really want.

If you are having dozens of kids and need the space then sell the car.

It's something I want to do. I have to dig some of garden out, put new retaining wall in, fluff it up a bit. This is a necessity but could do it without getting rid of car. I could do it all in time and keep the car, but there will come a time when the servicing costs will not seem viable.

It would still be a fantastic car in five years time though.