SwedeSpeed - Volvo Performance Forum banner

1 - 19 of 19 Posts

·
Registered
Joined
·
2,026 Posts
Discussion Starter · #1 ·
I have a friend who really wants to buy my car from me in 2 years, but is unsure if her husband will let her.<p>Depreciation is terrible. Like KillerB, I probably have about $70K into the car. I don't really "need" the car right now, and could sell at any time since I have the title.<p>Somehow I have the feeling that right now I'd be lucky to get half of what I invested in it. Two years from now, who knows? I've only got about 18K miles on it.<p>Anyway, maybe I shouldn't even be thinking about this. But it would be nice to eliminate some debt...<p>How long are the rest of you planning on keeping yours?
 

·
Registered
Joined
·
440 Posts
Re: Smartest time to sell? (frankhoffy)

I don't think it would be smart to speculate the potential sale of a car two years down the road and from a person who has to get the ok from another. I wouldn't count on anything..... <p>Depreciation is bad for a stock cars, but it's a nightmare when you mod a car. You won't see much of a return on your stereo or any of the paint work you did or any of the after market parts you put into it.<p>Sorry to bring up the news, but cars such as yours, imo, will only get a little more than in stock form. I always see a mod as a right off for when I sell the car. The mods are just something that helps me enjoy the car as I drive it and gives it a little personal touch that I put into it.<p>When I bought my R, I knew that that it would be a long term car. If I can get 12 years of fun and safe driving I will be very happy reagrdless of what it's worth.<p>Kevin <p><TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>frankhoffy</b> »</i></TD></TR><TR><TD CLASS="quote">I have a friend who really wants to buy my car from me in 2 years, but is unsure if her husband will let her.<p>Depreciation is terrible. Like KillerB, I probably have about $70K into the car. I don't really "need" the car right now, and could sell at any time since I have the title.<p>Somehow I have the feeling that right now I'd be lucky to get half of what I invested in it. Two years from now, who knows? I've only got about 18K miles on it.<p>Anyway, maybe I shouldn't even be thinking about this. But it would be nice to eliminate some debt...<p>How long are the rest of you planning on keeping yours?</TD></TR></TABLE>
 

·
Registered
Joined
·
582 Posts
Re: Smartest time to sell? (frankhoffy)

Don't sell until we can see it at a GTG around here...!<p>Not a helpful response to you, just a request from somebody dying to see the hoffymobile!
 

·
Registered
Joined
·
4,478 Posts
Re: Smartest time to sell? (kr900)

Frank-<p>I know what you mean. I've had similar thoughts....I know at some point I"ll want to sell the R...either b/c I want something else, or because the R is getting old/too many miles/too much repair $$, etc.<p>when is the optimal time to do that? I kind of think that you're most likely to be able to sell your car with less hassle it it's still on the factory warranty and still under 50k. you're way under the miles, but you're getting closer to the 4 years running out...when did you buy your car?<p>since you've paid off the car, it's a bit different. a lot of people who finance their cars, do it over 5 years now...so selling the car in the first two years is a sure way to be upside down...i would think three full years of ownership/paying the loan down is a must to even get close to breaking even... on a volvo where prices depreciate so badly...i'm not sure if 3 years would put the average owner in a position to break even on a sale.<p>as you've paid the car off, tha'ts not a concern. what is a concern, is your mods. you've pumped a large sum of money into your car, and you'll enver get that back. if you try to sell your car for a premium due to the mods, yo'ull have a VERY small group of people who will consider your car..the market for highly modded ultra souped up S60Rs is SMALL.....VERY SMALL> heck, the market for the S60R in general is SMALL. <p>you'd need to find that one buyer out there that wants a souped up R and would be happy to get one where all the work has been done for them. they get the car at a fraction of what it would cost to duplicate it, and you get to unload your car....BUT you'll never recoup the cost of the mods.<p>i really think the only way you "recoup" those costs, is to ddrvie the car and enjoy it. you knew going into the mod scene, that it was going to cost you a lot of money - and looking at all the work you've done - the body kit, custom paint, flame job, custom interior, power mods, suspension mods..you've dropped a lot of money into that car. <p>i'd say keep it and enjoy the fruits of your work. if you sell it, you'll tak ea bath on the mods. <p>if you plan on spending a LOT of money on a car - like buying it and then modding the heck otu of it and being $70k into a car - AND you know you'll sell it in a couple of years, you're probably better off buying a car that is simply worth more money. say you had spent $70k at the outset, on a 911. you would still lose money on depreciation, but you'd be able to sell the 911 at the market price for a used 911...which might be $50k or $40k after 2 years...I don't know.....but you'd get a set % of your intiial purchase price "back"......whereas if you spend $30k in mods...you pretty much pissed it away if you sell the car.<p>if you have to have somethig new, and money is no object, by all means, buy what makes you happyt. if you are making the decision to sell from a $$ point of view - selling would be unwise.<p>how much do you think you would get for your car if you sold it?
 

·
Registered
Joined
·
1,877 Posts
Re: Smartest time to sell? (frankhoffy)

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>frankhoffy</b> »</i></TD></TR><TR><TD CLASS="quote">I have a friend who really wants to buy my car from me in 2 years, but is unsure if her husband will let her.<p>Depreciation is terrible. Like KillerB, I probably have about $70K into the car. I don't really "need" the car right now, and could sell at any time since I have the title.<p>Somehow I have the feeling that right now I'd be lucky to get half of what I invested in it. Two years from now, who knows? I've only got about 18K miles on it.<p>Anyway, maybe I shouldn't even be thinking about this. But it would be nice to eliminate some debt...<p>How long are the rest of you planning on keeping yours?</TD></TR></TABLE><p>I'm thinking about selling as well... maybe get a Camry like everyone else. My experiment with European car is all but over.... <IMG NAME="icon" SRC="http://www.vortexmediagroup.com/images/banghead.gif" BORDER="0"> But I do get lookers for my car and that was a positive experience. <IMG NAME="icon" SRC="http://www.vwvortex.com/vwbb/rolleyes.gif" BORDER="0">
 

·
Registered
Joined
·
2,026 Posts
Discussion Starter · #6 ·
Re: Smartest time to sell? (23109VC)

I saw a car listed in the classifieds going for $32,500 that had quite a few Evolve mods: <A HREF="http://forums.swedespeed.com/zerothread?id=59731" TARGET="_blank">http://forums.swedespeed.com/zerothread?id=59731</A>. More miles than me and not as many modifications.<p>I don't think I can look at it from a financial perspective, because I'm not going to get anywhere near what I put into it when I finally sell. It's just a matter of when I get tired of it and am ready to try something else.<p>I'm glad I did what I did though. I picked up a new hobby and met a lot of good people in the process. Oh, and the looks this thing gets have almost caused accidents.<p>I think in the future I'm going to buy used though.
 

·
Registered
Joined
·
958 Posts
Re: Smartest time to sell? (23109VC)

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>23109VC</b> »</i></TD></TR><TR><TD CLASS="quote">Frank-<br>i really think the only way you "recoup" those costs, is to ddrvie the car and enjoy it. you knew going into the mod scene, that it was going to cost you a lot of money - and looking at all the work you've done - the body kit, custom paint, flame job, custom interior, power mods, suspension mods..you've dropped a lot of money into that car. <p>i'd say keep it and enjoy the fruits of your work. if you sell it, you'll tak ea bath on the mods. <p>i</TD></TR></TABLE><p>That explanation certainly sums up my opinion very eloquently.<br>Keep that car for some time and even spend a few bucks to up the warranty to 7 years total, so once you do sell, there is some warranty left for the buyer.<br>Jim
 

·
Registered
Joined
·
2,026 Posts
Discussion Starter · #8 ·
Re: Smartest time to sell? (surfsd)

I've got the 100K warranty on it too <IMG NAME="icon" SRC="http://www.vwvortex.com/vwbb/smile.gif" BORDER="0">. Bought it when I bought the car.
 

·
Registered
Joined
·
4,740 Posts
Re: Smartest time to sell? (frankhoffy)

You can recoupe some of the loss of modding by liquidating those parts. Some things on the car yes, some no. I've kept all the parts I took out. They'll probably go back into the car when I sell 5-6 years down the road.<p>As a friend once said to me years back when I had my truck from mini truck'n magizine..."when you get ready to sell that, parked in front of one the riches high schools you can find". Some kid will easily break down and pay the price just as he gets a fresh new license. There are a lot of foolish kids out there that have rich parents. Anything is possable down the road.
 

·
Registered
Joined
·
6,037 Posts
Frank, I got offered what I bought the car for and barely short of the money I put it in at a show. Maybe you should go to some over the higher profile shows in your area. There are always rich people there looking for things that are rare.
 

·
Registered
Joined
·
63,543 Posts
Re: (R_Rated)

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>R_Rated</b> »</i></TD></TR><TR><TD CLASS="quote">Frank, I got offered what I bought the car for and barely short of the money I put it in at a show. Maybe you should go to some over the higher profile shows in your area. There are always rich people there looking for things that are rare.</TD></TR></TABLE><br>That probably is the BEST idea, show it at a couple of GOOD tuner shows.<br>If they're none around take it to a cruise night (even if you will be overrun with street rods, the guys with tuner cars go as well).<br>You may want to consider bringing it to a SoCal tuner show and have someone show it for you there if you can't stay
 

·
Registered
Joined
·
1,125 Posts
Re: Smartest time to sell? (frankhoffy)

Frank, I've had luck selling modded cars through classic and exotic car auctions that happen here 3 times locally every year. Think of it as a mini Barrett-Jackson.<p>The spring one here is the best for modded cars and convertables, as everyone is hyped about summer driving. We have one in the fall just before the Woodward Dream Cruise, and that is the best time to sell classics. I would suggest doing some research in terms of which auctions are accessable to your localle, and then invite your friend to bid if she wants to.<p><A HREF="http://www.rmauctions.com/Events.cfm" TARGET="_blank">http://www.rmauctions.com/Events.cfm</A>
 

·
Registered
Joined
·
584 Posts
Re: Smartest time to sell? (frankhoffy)

<br>Life in modded land is expensive. For the large majority of car buyers mods decrease the value of the car, period. The most common epxerience is that you are <B><I>always</I></B> better off taking the modded parts off, selling them through a messageboard like this, and then sell the car on cars.com or simillar. <br>In the S4 or M3 world, that's the way almost all of them do it. The sole expection is if you mange to find someone here that wants your car. My recommendation would be to <p>1) keep the car - it's beautiful! <br>2) if you have to sell - try for a couple of weeks on this an other message boards. <br>3) if no takers, remove mods and sell them seperately. <p>Sorry for being the partypooper <IMG NAME="icon" SRC="http://www.vwvortex.com/vwbb/frown.gif" BORDER="0">
 

·
Registered
Joined
·
63,543 Posts
Re: Smartest time to sell? (FastWgn)

He really can't, everything has been built in on his car
 

·
Registered
Joined
·
2,026 Posts
Discussion Starter · #15 ·
Re: Smartest time to sell? (JRL)

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>JRL</b> »</i></TD></TR><TR><TD CLASS="quote">He really can't, everything has been built in on his car</TD></TR></TABLE><p>Yeah, this thing is not going back to stock. If somebody wants a stock car, they need to buy a stock car.<p>It will be interesting once it's time to sell that's for sure.
 

·
Registered
Joined
·
4,740 Posts
Re: Smartest time to sell? (frankhoffy)

Here is a good idea Frank, why don't you stop thinking about selling the car until you have a beautiful girl in the passenger seat. Take it to some shows and meet some people.<p>That car looks very nice...enjoy it for a while. <IMG NAME="icon" SRC="http://www.vwvortex.com/vwbb/wink.gif" BORDER="0">
 

·
Registered
Joined
·
2,017 Posts
Re: (R_Rated)

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>R_Rated</b> »</i></TD></TR><TR><TD CLASS="quote">Frank, I got offered what I bought the car for and barely short of the money I put it in at a show. Maybe you should go to some over the higher profile shows in your area. There are always rich people there looking for things that are rare.</TD></TR></TABLE><p>I think we're a little out of touch here...if you/we can afford to throw this kind of money at something as unimportant as a car, don't kid yourselves...we ARE the freakin' rich people. At least from the perspective of 95%+ of the rest of the planet.
 

·
Registered
Joined
·
2,967 Posts
Re: Smartest time to sell? (KillerB)

Actually this isn't a bad idea in this neck of the woods Frank. I live right down the street from just such a high school and you can park your car at the park and ride lot right across the street from the school. This is the same school where one of the kids got in trouble last year when it was found that he arranged to have his M3 stolen so he could use the insurance money for a down payment on a new Bentley. Believe me, there are more than enough stupid very rich parents with spoiled kids around here that someone might actually give you more than the going rate for a stock R for your mods. <p>Otherwise, your best bet is as others said - part out the mods you can swap back to stock and then sell.<p>Also, FWIW, I've sold 5 of my Volvos in the past 10 years. I generally find that I can get my down payment back (I usually put 25-30% down up front) around the 33-36 month mark if I did a good job negotiating the lowest possible purchase price up front. My R is right at 30 months now and I'm getting bored with it (nice car mind you but I want more performance with the same practicality and luxury.)<p><TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>KillerB</b> »</i></TD></TR><TR><TD CLASS="quote">..."when you get ready to sell that, parked in front of one the riches high schools you can find". Some kid will easily break down and pay the price just as he gets a fresh new license. There are a lot of foolish kids out there that have rich parents. Anything is possable down the road.</TD></TR></TABLE>
 

·
Registered
Joined
·
3,344 Posts
Re: Smartest time to sell? (rollie)

Frank,<p>Talk to Park Place Motors in Bellevue. P/P is one of the premier dealers in town for rare/exotic cars and they will consign for you. If you want the richest people in town looking at your car, this is one of the best (and easiest) places to park it. I stop in from time to time just to see what they have on the lot and to people watch <IMG NAME="icon" SRC="http://www.vwvortex.com/vwbb/biggrin.gif" BORDER="0">. Lots of local celebs there on weekends.<p><A HREF="http://www.parkplaceltd.com" TARGET="_blank">http://www.parkplaceltd.com</A> (see "special interest" pages)<p>Here's an example of a heavily-modified car selling for well over $$$ stock used retail $$$. <p><A HREF="http://www.parkplaceltd.com/pages/files/vehicle.aspx?id=5283" TARGET="_blank">http://www.parkplaceltd.com/pa...=5283</A><p>Again, it's all about targeting your niche market. This is the place to do it. - Tryg
 
1 - 19 of 19 Posts
Top