With my upcoming geographical move to Miami, it's become apparent that the days of $80/month insurance are over. I'm 42 in October and got a quote for $160/month! for the south Florida area
With that in mind, the evil thought of putting my baby F1 up for sale prior to me moving (just to give myself a bit more fiscal security for that first year while looking for a home) has creeped into my head. I'm curious if others have, at one time or another, contemplated selling their beloved car due to conditions that have nothing to do with wanting something else.
I'm sort of really fighting the urge here to get the note out from under me because I can ALWAYS buy another S2000 but I don't really want to dip into my portfolio to put $$ down on the home. There is NO OTHER car I'd rather own but if I can use the proceeds as a down payment on a home, I'd probably sleep easier at night driving something less for a year so I can leave my race horse (stocks) on the track. Just a thought, nothing decided as of yet...my mind constantly is looking for every advantage, just thought I'd pick the minds of my S2000 friends.
I'm thinking if DID decide to sell, I'd be fortunate to get $26-27K for the car...it's got about $5K worth of modifications and 12,500 miles on the '02. Truthfully though, I'm 50:50 at this point. I can't imagine south Florida with a hardtop.

 

I would really hate to sell the S before moving to Florida, but if it had anything to do with the move there, the S would be the first thing to go. Also if you are going to sell it, you will be better off to turn it back to stock. 9 times out of 10 the mods will hurt the value more than help it.

 

In my case, I would be aiming to sell the car to more of a hardcore enthusiast than the atypical sportscar seeker. Those who recognize the quality of the chosen mods and subsequent benefits would be more apt to buy the car if they originated from an owner my age. It's usually in how the car is presented for sale. I realize with the wing and canards, lip, etc the car won't appeal to someone looking for a convertible to show real estate to clients, etc but I think there are plenty of those who might be interested in an S2000 slightly left of center. I don't want MORE than the OEM worth but I figure if I do decide to sell, many would prefer a car with most of the options usually bought down the road already in place. This places my car aggressively in front of those which are bone stock yet selling for the same price. Again, for the hardcore enthusiast. Your statement definitely applies to cars years older. A left-alone Grand National usually commands more than one modified, even expertly so but in many automotive circles, cars usually modified by mature drivers tend to babied. When you see a car bone stock, that's no indication is wasn't beaten to hell. I'd be more apt to buy a car from an s2ki.com member because I would feel they would be up to snuff on things about the car that should either be attended to or monitored. I've spoken with a few S2000 owners (none in this state) who two years into ownership, had no idea you couldn't go into VTEC until three bars or that it's wise to check the oil at every fill-up. That's kinda scary. Give me a modified car anyday over one like that which for all I'd know, would be running with Penzoil and a Fram filter 'cause that's what Wal Mart had on sale that weekend.
The more I talk about it though, the less jazzed I am to sell. Maybe my stocks will have a nice bounce before I move, that would do the trick!

 

I hope this isn't too tangental, but...
This reminds me of the guy I bought my s2000 from. I was supposed to meet him at my bank to get my loan and get the all that sale stuff taken care of. I was sitting inside waiting for him when I saw him pull up, get out of the car, and then stand there looking at it for a solid 10 minutes while I was talking with the loan lady. I eventually went outside and flagged him in. When we all sat down at the desk, he said "Is it too late to change my mind?". His hands were shaking quite noticeably when he was siging the paperwork. I swore he was about to cry. He looked like he was signging papers giving me the right to rape his daughter. Man, did I feel bad for the guy.

 

I've owned more than 20 sportscars in my life and if I decided to put the house before the "horse," so to speak, this one would be the most difficult to walk away from. It's as close to automotive perfection as anything I've owned (you have to bear in mind I was weened on Triumphs and Alfas! lol). My girl said I would regret selling it two minutes after watching a flat bed take it away (no doubt from a distance sale). I had that same empty feeling watching my '87 Grand National (27K on the odo) drive off a few years ago. This is sort of a "well, I don't HAVE to sell the car" situation so it's not as if I was a student staring at a mountain of post-graduate Stafford loans, etc. Still, taking advantage of these ridiculous APR's for home loans is tempting...the proceeds from the car would make for a sizeable down payment above and beyond anything traditionally expected.
The essence of the question though was sort of picking the minds of those who thought about it but changed their mind, for whatever reason. That's about where I'm at now...thinking to myself, "whoa, that was close!"

 

I think about selling my biotch, just about every day.
It always turns out to be "FVCK THAT, I'll eat every day before the freak leaves me forever".

Russ, the one thing that really keeps er with me is the time I put in to get something I wanted for ME.
As you know, that retirement money is the reward for time served. I earned it.
Everything else works around the freak.

I also have had other sports cars. Looking back, I wish I never sold them. But this is now. This IS an S2000.
I will swallow the before PWRMKR is placed in someone else's hands.

Good Luck with your decision.

 

Russ,

PMed you, when are you moving to the SE Florida region?

 

Russ,
160 a month is a steal....235 a month and I am 30. BUT, this car is soooooo worth it. All I have to do to remind me of that is drop the top and go for a drive. No matter where you're going, it puts a smile on your face to drive the car (atleast it does for me) That was too valuable to give up. Anyway, you'll make the right decision.

 

Russ,

I think you can make an easier decision on yourself by just taking the car down with you. The key reasons that this makes the most sense are:

1.Gives you time to shop around for Insurance while actually in the State and hopefully you can network with fellow workers, new friends, etc. to check on rates.
2. Your comment that Florida without a ragtop is obviously strongly in the back of your mind, deeply imbedded in your unconscious, and selling the car may cause you deep neurosis .
3. If you do have to sell it, the climate and demand in Florida is probably much better than Vermont.You have a huge statewide population,and the car has a year round sales time frame.

Good Luck and best wishes for a successful move.

 

I'm not sure, but are you really trying to put more down on a home than minimum?

With interest rates so low, and taking in the effect of being able to take a deduction against income, you are probably better off getting the highest loan to value available. Around 80 to 90%.

Good luck with your decision.