Sell now or try or keep it for a year?

[mdc]

Hi all, we all know the status of the economy. I took my chance and picked up the R8 in mid Jan, it was not the best decision, but I just could not resist. With business taking a much bigger hit than I expected in the past few months, and forecast for new business is next to zero, not to mentioned investment... my financial situation is now stressing me to the max.

Maybe I should sell it now, and not have to worry about the all the cost that is associates with this car. I am sure I will loose my shirt... just sales tax alone is bad news. Or hang on to it and sell it a year or so later. Maybe things will turn better within this year and I can afford it for 2 or 3 years.

But the stress of dealing with all the monthly expenses, getting rid of it now will be some relief. I am not sure if it makes financial sense to sell it now. With all the R8 on ebay, I am not even sure I can sell it that easily. Any thoughts or advise? Sorry to post such a depressing topic.. I rather be talking about my squealing brake, but figured I could get a different kind of perspective here from R8 owners.

[lightninhopkins]

You bought it in mid January of 2009 or 2008 ?

[Dan1]

You bought it in mid January of 2009 or 2008 ?

Based on his post here that would be 2009, he has had the car less than 3 weeks.

Where should I sleep tonight?

If having the car is stressing you out get rid of it.

The whole idea of the car is enjoyment, not stress.

[lightninhopkins]

Sorry, didn't even think of looking at other posts. Thanks Dan.

MDC, If you can make the payments, just stick with it man. This will keep you sane through these tough times. It's like that getaway without the getaway. Plus when you drive it, you'll be in a different state of mind. Your brain will say, I love this feeling. Then your brain will program you to just work hard and come up with some better tactics to make some more money. Plus, I don't think it's going to drop that much more than it has now. Still seems to be a somewhat rare car.

What I'm trying to say is, driving it is like "steroids for your mood".

[gigharbor1]

Sorry to hear about the stress level, MDC, in what is hopefully a once-in-a-lifetime global financial squeeze. What about advertising it in the meantime at a price that is acceptable to you, and see if you get any bites? The R8 can still be an impulse buy for the car collector and/or enthusiast, and you never know who is in your neck of the woods reading about the new V10 coming out, and loving the car but not wanting to pay that much for one? And if you get a decent offer, you can always sell it now and when things pick up in your business, you can get one of the numerous R8s out there with 1,050 miles on them sitting in owners' garages.

Roman

[09R8]

mdc, sorry to hear about the current predicament. This economy is definitely taking a toll on many. It sounds like you are leaning towards selling it to minimize your risk. Go with your gut. Selling it a year later, you will take more of a hit later than now. The ownership experience should not be a stressful one. If you foresee much risk on your end, then I'd advise selling the car for a small loss. Whatever you decide on doing, good luck

[MikeB]

Very unfortunately I don't think it will be a small loss, as I have just enquired after a trade-in price with 2dealers for a 4 month old with 4k on the clock.

But, I have spoken with the R8 team in the UK and they reckon that these losses will level out this year - if that's the case, then I would drive on until its a better time to sell in the spring/summer. Good luck as well.

[bz888]

Trust me, if Australia has anything to go by, R8s have depreciated about 25-30% in one year!

[russman]

I agree with gigharbor. The value of cars are subjective and you never know what you might get. The only thought I have is NOT to use ebay. In the US, there 33 R8's on ebay which is a digrace! Putting on there will most certainly cheapen the car as its exclusivity will be questioned. I think the R8 is truly an impulse item and if you think of a reasonable number to sell it.... drive around really expensive, ritzy exclusive areas and park in different places. I know that sounds nuts but there is simply nothing like seeing an R8 in person, especially having never seen one. You'll run into other exotics, meet people, talk cars... you simply never know... stranger things have happened. The person that going to buy this car on impulse might not be found on ebay. I had a BMW 850ci years ago and I was parked at a very high end mall in Northern NJ. Someone in the parking lot started a conversation and ended up buying the car.... and I wasn't really looking for a buyer.

[SAMMY]

Please What You Have And $ What Are You Asking--- Someone Might Help You Out Of It!!!!