Ive been lurking on this site for almost a year now and just decided to register.

Anyways, my story goes like this: Since before I could drive, I saw the very first s2k at a local auto show and knew then that one day I would have one. True to my word, I had been looking for one ever since I graduated college but never was terribly serious. Fast forward, in 2007 my business had a great year so I took a 'bonus' and 'invested' that money into a large down payment on a used 04 in March 08 when I thought I got a good price ($21k+ttl with 18,xxx miles). The thought process was that since I was buying used, the depreciation would be negligible and I would sell the car when I was ready to start another complimentary business. I figured it was a safe place to hold my money but im afraid hindsight may prove me wrong. However, I am ready to launch my next business and I would like to have the money back.

So the question goes like this: knowing my situation, the fact that I have a clean, low milage machine with relatively known history, and will likely loose a fair amount of money if I sell it, what would you do???

Ive considered making it a company vehicle so that the loss becomes tax deductible but have yet to talk to the accountant. Any other thoughts?

Is the secondary market for s2000s really as bad as it seems? Ive had it listed on autotrader (zip 45373) for a few months but no serious bites.

 

Yeah...it is as bad as it seems.

What else would you buy or do you have another car for a daily driver? If the car is just tied up capital and not transportation, then only you can decide which is worth more to you...the liquidity or the car.

 

I have a company truck that I drive most days and an older accord that I drive most other times. I reserve the S only for extremely nice days or special date nights. hmm....

 

In that case...sounds like it is just tied up capital. If the price you can get for it lets you start the other business and increase what you pay yourself, then you can buy another one in the future.

I'm sure you know that cars are not the best place for investment. To not lose money in cars you have to choose collector cars or supercars...and even then only select marques like Ferrari will hold value. But I do know if you ever get to own a new Ferrari you can basically own one of those for a couple years and sell it for pretty much what you paid for it.

 

thanks for playing sounding board with me!