Z4M Coupe Dilemma!

[Dean26390]

My current job requires doing a lot of miles up to 300+ a week so I've been considering selling it but I have a dent on the front bumper that needs fixed before selling and I still have 2 years before the loan took out to buy it is paid off. However I have the offer of putting it in storage for free and using it as a savings account as I really can't see the price going down? And just buying a cheap runabout for work etc. It is an 07 Monaco blue z4m coupe with 62,000 miles just recently had all discs pads and sensors replaced and inspection 2 done. It also has every extra, sat nav, Carbon dash, heated seats, cruise control, top sound system cd changer etc etc. How much would you price this when bumper is fixed and what would you do, fix and sell now or put in storage until paid off? Thanks in advance!

 

[Angelus666]

Difficult to predict how the market will go. If we leave the EU, will we see interest rates rise in the next year and the car market bubble go pop...who knows?!

I guess you'd get £18k or so and if you're not going to drive it then that money is probably better off in your bank/doing something else. Also, worth factoring that if you pay off your loan early you'll save money on the interest you'll pay if you keep it over the next two years.

 

[_Billy_]

I'd expect you to get close to around £17K, so maybe ask for 17.5 or 18 ONO ...

 

[Taz]

stick it in storage

 

[Viren]

Us leaving the EU doesn't really drive your decision, if you want to keep it then keep it, if you feel like in 2 years you'd want something else sell it. In 2 years technology moves on a lot and an f80 m3 will probably be sub 30k. These cars may be worth a lot in 10 years but right now I think you'd be hard pressed to see any substantial increase over a couple of years.

 

[Angie4m]

stick it in storage

This!


If you love it then why not keep it if you can afford to.

 

[Pastry]

I would only store the car because I wanted to keep it to drive and not for financial gain. I assume you would still have to insure it in one form or another plus there is the loan interest for the next 2 years which will both erode any increase in value. Jmo

 

[Anonymous]

Store and buy a mile muncher

 

[goon]

Keep it and buy a cheap runabout,thats what I did last year. I will take it of the road in nov till march,save money on tax and keep the salt etc off it and do any jobs. Then, when you only drive it occasionally you really appreciate the power and speed these cars have. It looks a beauty and has lowish milage,if you flog it and don't buy anything better you will regret it very soon.

 

[TR4man]

Sell it now why whilst the prices are buoyant.

Don't forget that to store a car properly for two years will not be free. It will require maintainance to prevent it deteiorating. You'd also want to be paying insurance on it whilst stored - some insurers are very specific about what they would class as secure storage.

Paying off your loan would be a wise move not only financially but also for your peace of mind.