VaclavSV

Okay so here is my dilemma.

My 2012 C63 Sedan was in an accident recently which damaged the body panels at the front. Quarter Panel/Bumper. Everything else was fine and airbags didnt go off or anything. The car is done being repaired and had all brand new Mercedes parts put on. Needless to say it looks better than new now without a front plate and no more hideous side markers! (The bumper doesnt have them cut out)

I am thinking I should sell the car which has performance package and 50K Kms on it and still has 2 years /30K kms warranty left. Remember I am in Canada so I would be looking for $60K. I have an investment property which I have owned the last 5 (Bought Feb 09 at the peak of the recession) years and it had appreciated tremendously. I will take roughly $50K from that to play around with. I also have company cars which I can drive all year round if I need to.

What Im thinking is if I sell the car now I can put the money away for 8 months and save on insurance etc. Then I can use some of the money made on my investment and pool it together to buy something new (maybe a p-car etc.)

OR.....

Do I keep the C63 for the next 8 months (possibly longer) and wait to get something different a little later on?


Do you guys think its a good time to sell? Is $60K reasonable for the car? It is fully loaded.

CarHopper

I would hang on to the property. It seems irrational to sell it now for a maybe car down the road. Hang onto that and make more as economies get stronger and buy something like a sweet house. Cars a really poor investments anyways.

I'd hang onto the C63 as long as you could.

The only argument to sell really is the fact once the new ones hit the streets any previous models will take a hit in value.

CoolBDPhenom03

Hopefully, OP means take out some equity, not selling the property. Cars are a depreciating asset. Property is a real investment.

VaclavSV

Im selling the property and buying a new one. The leftover money will be the extra cash I have available.

CoolBDPhenom03

Well, it sounds like you might be swapping properties anyway. I dunno...if your C63 is paid off, why not hang onto it and use the extra $50k as part of another investment that could yield you something more in the future?

CarHopper

I think another important thing is what kind of car are we talking here?

stevel8206

cayman s?

m a x i m u s

maybe you can tell that to my house that I bought in 2008. lol.

CoolBDPhenom03

THAT is a matter of timing :p Just give it a few years.

ZephyrAMG

VaclavSV

I am considering 911, GT-R, M4, or 4matic C63.


Thought of that as well. I just have a strong itch for something more exotic haha

CoolBDPhenom03

The rational half of my brain says "Save up for something really epic and just ride out your C." The irrational half says "Get whatever makes you happy!"

CarHopper

^ I'm vice versa.

You live once, do what makes you happy. That being said, keep the c63. It is comparable to the cars you've mentioned. Some beat it here and the c beats it there. I thought you were talking like lambo/ferrari/porsche turbo etc.

Keep investing in property, hold onto them, and then just get real crazy when you are getting ready to kick the can.

abcut973

If you are a bachelor keep investing in real estate, take your 50k + whatever price you get for your current c63 (hopefully 60k) and buy the car of your dream.
If you are married with kids keep investing in real estate, put the 50k onto your children's saving account and keep your C. You'll still have fun with it!!

CoolBDPhenom03

Actually, this is probably more like how you should base your decision. There's a sweet Ducati for $50k