Major decision to make...

senwar · Jun 5, 2009

Over the past 27 months of ownership, I've had a few occasions where I've had to debate chopping in the car due to work commitments or lack of use. After only 10 months I nearly traded it in for a 3 series diesel for work but the p/x was laughable, and then in October last year I was going through a similar debate and went to look at a 123d coupe. I wasn't offered a price on mine but was told it would be less than £22k that they had a 56 plate one up for. Er no.

Anyway, long story short, due to a recent significant change in work, I'll be commuting to Norwich from Sheffield every week and it doesn't make financial sense to use the M. I do have the option of hire car for work, but it also seems to make little sense to me (financially again) to keep the car for weekend use only.

Following a chat with Steve earlier in the week, and pointing in the direction of a contact, I have now been offered what I deem to be a good price for my car by BMW. This would be a pretty easy sale, without the need or hassle to advertise, and is really swaying me.

This is the best car I've ever owned - I love it with a passion. I will be gutted, in fact bloody heartbroken when it goes. Whether that is now, or whenever. It was always my intention to keep for 3 years and then sell, so as a maximum I'd only have 9 months ownership left. And to sell in Feb/March next year, I'd need to tax, test, possibly service etc.

I don't really want to sell the car, but as has been discussed on these pages, its a good time at the moment, and it all seems to fit in place. Has anyone else had to make a similar decision?

Thoughts anyone? I know if I do it I'll regret it, but as I say it makes massive sense at the moment to do it.

One last comment - Z4M - :worshipbmw:

milu · Jun 5, 2009

Why not consider a little longer about keeping for weekends,i know its not financially sensible but second cars usually aren't.
if you like it so much then enjoying it at the weekend might even make you hold on for longer than 3 yrs.

mines a weekend car,and i often work Saturdays!! so its a big expense for little use some weeks but at least its always there.

pvr · Jun 5, 2009

Sell it for what?

If finance dictates, you have no choice. If it is just a "bit of a shame of the money to use it little" - just look at your own sig ...

outrun · Jun 5, 2009

I've said it before and i'll say it again. Get a golf tdi from the auctions for £1500, insure it TPFT and drive the crap out of it. You'll save the cost of it in petrol alone. Then keep the M for the weekends, after all why are you going out to work every day if you're living to work when you could work to live.

Keep it, you'll kick yourself if you don't.

gannet · Jun 5, 2009

You said it yourself - you'll regret it.

Im with outrun - keep it and get a cheap but good beater

Mine's essentially a weekend car but I wouldnt be without it.

sammyz · Jun 5, 2009

If you were gonna trade it in in another 9 months anyway what were you thinking of replacing it with? If it was something equally exotic then the depreciation would have been a lot more than keeping the 'M' and buying a runner for work!

I've got a Citroen C2 for work, 39 MPG round town and the 'M' is for sunny days and weekends. If you're gonna miss it so much then keep it if you can afford to.

senwar · Jun 5, 2009

My original intention was to trade up next motor, but for a while now I've been changing my way of thinking.

Not really in a good enough position to have this and another car. This is on a BMW finance agreement with a balloon. I had previously thought of keeping it post 3 years, and paying it off over time, getting a warranty etc. But I feel I'm adjusting myself the older I get and have sensible ideas every now and again, and feeling that cars are not the priority they used to be.

I'd even thought about not having anything for a while, and ploughing excess into my mortgage to pay it off early (got 11 years left). And even though work is one of my deciding factors, if I didn't have the car I could also seriously consider voluntary redundancy at work too (20 years service).

I know I'm sounding like someone trying to convince themselves - and I have both pros and cons for both sides. I suppose if I knew for a fact I could sell the car easily in 6-9 months say, then I'd possibly keep it. But this is a guaranteed, easy sale that might not be an option later in the year.

In an ideal world I would never get rid of the car - I would love to keep it for 10, 15, 20 years - its a future classic and I'll always look on them fondly.

senwar · Jun 5, 2009

pvr said:
just look at your own sig ...

When I came out of the gym at lunchtime, I just walked up to it, admiring it again.

Its a bloody stunning looking motor if I don't say so myself!

rabman5 · Jun 5, 2009

I don't know how taxes, fees & insurance work in the UK, but I don't understand selling a perfectly good car at a loss to buy something cheaper, if you can afford the current car. In my opinion, there is a price to be paid for that feeling in your seat and smile on your face, and it's worth it to me. There are many ways to reduce expenses in life without selling your car. If you'll be on a longer commute, you may be miserable in a different car and every time you'll see a Z4 M, again you'll be gutted, remembering what could have been. I'd rather drive to Costco in a Z4 than to a better shop in a lesser car. :lol:

Angus McCoatup · Jun 5, 2009

Yep, a very hard decision to make.

It's difficult to give advice because we all face a different financial juggling act. At the end of the day I suppose it all comes down to whether or not there is something else you'd sooner be doing with the money than using it to run your ///M.

From reading your opening post it seems that you quite like the car (

). I've not had mine as long as you, but I've had it long enough to know I want to keep it for as long as possible and that I would really regret letting it go whilst I enjoyed owning and driving it so much.

So I support the case for a beater. If you get the right car it will cost very little in tax, run for ages with minimal servicing costs and you might even save on insurance (it was cheaper for me to insure my beater (I basically just kept my previous car) and Z4MC with a multicar policy than it was to insure the Z4 on its own).

Good luck with the decision.

senwar · Jun 5, 2009

Angus McCoatup said:
Yep, a very hard decision to make.

It's difficult to give advice because we all face a different financial juggling act. At the end of the day I suppose it all comes down to whether or not there is something else you'd sooner be doing with the money than using it to run your ///M.

From reading your opening post it seems that you quite like the car ( ). I've not had mine as long as you, but I've had it long enough to know I want to keep it for as long as possible and that I would really regret letting it go whilst I enjoyed owning and driving it so much.

So I support the case for a beater. If you get the right car it will cost very little in tax, run for ages with minimal servicing costs and you might even save on insurance (it was cheaper for me to insure my beater (I basically just kept my previous car) and Z4MC with a multicar policy than it was to insure the Z4 on its own).

Good luck with the decision.

Could you tell??

Good point re: the beater and a multi-car. Had a multi-car quote with Admiral recently and it was pretty good.

I've thought about things over the past hour or two and gone from 80/20 in favour to 50/50. Christ I'm not good at decisions.

senwar · Jun 5, 2009

rabman5 said:
I'd rather drive to Costco in a Z4 than to a better shop in a lesser car. :lol:

:lol:

Thats a great comment!

IK. · Jun 5, 2009

I'd sell it. I've only just bought my Z4 Coupe, but I may well be selling it in the next few weeks (had it for 3 months now). Already, at only 24, cars just aren't what they once were for me, and I'd rather overpay the crap out of my mortgage, and get it gone (feasible for it all to be gone by the time I'm 34 if I didn't have flash cars).

If you're even thinking about it, I would do it.

chughes163 · Jun 5, 2009

Well ive just sold mine!

After a bit of deliberation I put it up or sale at high money, had some tyre kickers - reduced it slightly, again....further interest but people were influenced by buying from a dealer.....then reduced it again and got a buyer this week! I got more money than I paid for it 3 months previous when the recession had hit hard - and its cost me nothing in maintenance, so I was quite happy.

At the end of the day, im 23 with a pretty high mortgage and trying to set my own independent business up...so the capital out of the car made sense. Im sure a lot of you guys will be in better positions than I however, but for me I was mainly tempted with the up-turn in prices and the fact there are some brilliant cars available far cheaper. Also, my job role has changed so a 4 seater would come in useful.

I am contimplating trying to buy a good example E46 M3 for around £10k (which is what I had previously) and getting a decent warranty saving me a few quid - but dont get me wrong, the Z4M is a fantastic bit of kit and the best car ive owned...but the money influenced me in the long run lol

Ian G · Jun 5, 2009

Senwar - dont want to sound like a vulture but - if you did sell what kind of money are you realistically after?
Car is stunning - one part of me says keep it as it truly is stunning, other side says sell it (to me!)

fastflupke · Jun 5, 2009

I can recommend 1 thing, if you can afford it put common sense aside and keep the baby ... Even only the knowledge of the car in your garage and the small amount of kilometers will give such satisfaction ... Good luck with the decission

MAT · Jun 5, 2009

I think you have to follow your heart.

I was debating selling my coupe for months, finally did last week and picked up a low mileage CLK and to be honest I haven't missed the coupe one bit. They are stunning cars no doubt.

Only you can answer this, but if it were me, I'd sell it pay the mortgage off quicker and possibly take redundancy if the figures stacked up, allowing you more time to spend with the wife girlfriend etc, and travel. Smell and touch as much of the world as possible!

I would always put my money in property but not to the point it adversely affects my quality of life.

chetalien · Jun 6, 2009

It all sounds wonderful, trying to finish off ur mortgage investing property. I for one believe u gotta to do today what u want to , not wait for tomorrow. Yes I maybe able to finish my mortgage in 10yrs, but what have u really done in 40yrs. then u have kids and it never ends, enjoy ur life when u can worry about tomorrow. I prefer investing in shares and making sure of my future but enjoy today. One thing I wouldnt do is compromise on my cars. I love driving and spend a lot of time doing it, so i would rather drive a car i like and enjoy rather an corsa or a focus where i'm driving to get from A to B.
My suggestion is to keep it unless u r desparate for the money.

senwar · Jun 6, 2009

Thanks for the comments all - a a lot of you say, only I can make the decision in the end. But thanks for comments and pointers.

Ian G said:
Senwar - dont want to sound like a vulture but - if you did sell what kind of money are you realistically after?
Car is stunning - one part of me says keep it as it truly is stunning, other side says sell it (to me!)

No probs Ian. I've been offered £24,500 for it without the CSL's. So obviously if I was to sell elsewhere, I'd be looking for slightly more than that, say around £25,500 with the CSL's on or £25,000 without.

IK. · Jun 6, 2009

£24,500?!?!? What reg is it? Wonder what I could expect for my 07 Coupe then (Aug 07 registered)... Where'd you get that price Senwar?

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