Time to sell?

MZ DAIZY

I know no one can really answer this question but myself but I’m going to ask anyway....

Bought Daizy from CarMax in 2017 with 2000 miles on her for just over $31,000 She just turned over 35,000 and I own her outright.

They called me out of the blue and offered me $36,000 if I could send pictures and document all service records, which I did and I can.

So now the question... do I sell my 5 year old love for a “PROFIT” and buy myself a beater while waiting this crazy market out?

I’m aware that nobody knows when this bubble is going to pop, but it IS going to pop. All bubbles do.

I’m drooling at the thought of selling her and “upgrading” to new Z if the rumors are true about a $40,000 sticker.

What say youse guys?

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SeeThruHead

hell no

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MZ DAIZY

I appreciate you’re opinion! I’m leaning toward “hell no” too. But if there’s one thing I’ve learned about the stock market and bubbles, is bulls and bears make money. Pigs get slaughtered.

What’s your reasoning. I really want to know.

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SeeThruHead

Well I would assume you'd need another car. At an inflated price. Which you wouldn't be able to get rid of until the market drops. so you'd sell for a loss.

In canada at least you pay taxes on any purchase of a car. so that's taxes x2 to the government.

Not to mention you're sitting for a year or two with a **** car you hate driving.

Only to what, get the new Z at a dealer markup?

If you can swap you z for a bicycle until the market drops maybe.

5k - taxes isn't enough of a profit for me to warrant driving a **** car for over a year tho. But again, everyones situation is different.

I'd rather have the car for that time, enjoy driving and building it.

The new Z looks great but I'd much rather have my 370z.

Also we're heading into a recession so, a payed off car sounds like a great idea.

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MZ DAIZY

Yes, we’re on the same page. I’m seriously thinking about buying a bike. More specific, one of the 1000’s of Harleys that Dentists and Accountants own and freeze my arse off for a year or two until this market gets sorted out.

The problem is my wife doesn’t want me on a bike anymore...

I have a 2011 Kia with 25,000 miles on it that my wife uses as a grocery getter. So i have options.

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Nvrdun

I also have a few backups. 2014 BMW 535gt, 08 c63, 2018 subi Sti. And I really want the new z. My dealer offered $25k. Problem is that I have $15k in parts I have to sell. I'm sure there is gonna be a mark up on the New Z. I'm guessing $48k

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Fuzzzy

Not SeeThruHead, but here is my reasoning:

My philosophy in the stock market is to keep shoveling money into index funds while you're earning it and to keep transaction costs to a minimum. The number of investors who can beat average returns after transaction costs reliably in incredibly small. Chasing highs and lows is futile for almost everyone.

The bubble may pop or we may be approaching a new permanent baseline. Currently projected prices for new models when things get back to normal may be significant underestimates.

I'm going to keep driving mine as I don't have the patience (or life expectancy) to waste a year or two driving something I don't enjoy driving. Despite my wife starting to hint that I should trade for something with a grab handle for the passenger

*J*ap***V*et*

Do you have your eye on any other vehicles? Or is it new Z or nothing. You definitely could sell now and get something new to you or if you don't mind a car note put a significant down-payment on something extraordinary. Personally I'd wait and see how the new is before I ultimately commit to one but it's a damn solid choice. Good luck!!

MZ DAIZY

Yea, it’s the new Z or nothing. But only if it’s $40,000 ish.

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Nvrdun

I'm thinking about it aswell. I have a 2016 with 29k. Already removed my bp tt kit.

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Spooler

LOL, common sales tactic. I got the same thing about my 2017 Corvette Grandsport convertible. I just laughed at the guy.

Dreadnaught

I say keep your Z and stay out of debt. I know a new car sounds tempting but you will get bored out it just like any other car. Whatever your payments were take that each month and put it in your savings. Plus, with the increase of everything right now and I don't see an end to that you will have extra money for things you NEED rather than spending it on wants.

I just paid off my Z 5 months ago and it looks better than ever lol and I also have no debt and I sleep a lot better. Also a thing to remember, your registration will go up, your insurance may as well.

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MZ DAIZY

I think we’re at the same stage in life where we agree if something is too good to be true, it probably is...

But let’s just say the offer is legit? I’ve never been offered more for a car that I’ve owned that I payed less for. I’m intrigued...

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husam2012

IMO the market is definitely about to pop. Carvana just reported that sales are slowing down a lot. Interest rates are about to skyrocket and houses are sitting a lot longer than they use to a few months ago.

I just sold my 2011 sport for 23k to Carvana, my 2019 Nismo to a FB buyer, and bought a 370z from the auction for $6k delivered with a blown engine(140k on the car). Swapped a motor in and did all the modifications I like on these cars for track duty and I'm still under 10k. Also got a 2010 GTR with the difference between the 2 sales lol

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VHRpurr

Carvana lost their backside as they lost $500 MILLION, not exactly a small chunk of money, but they have enough investors that will unfortunately keep that crap business going, and Vroom…. Their stocks are down 99% after the Texas Attorney General all but sued them out of existence…