Drive the Dang Car?
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Drive the Dang Car?
Hi All,
First, I'm unendingly appreciative for all the financial guidance I've received over the past few years that's enabled
my approaching retirement in 8-11 months (@56 y/o). I have a very low mileage BMW (2006 M Roadster w/ 17k mi)
that's a thrill to drive but I don't do so much due to my fear that it'll get a door ding, scrape, add miles and that if/when I decide to sell
the car, those dings and/or mileage will diminish it's resale value to some degree (it's currently worth ~$30K which is ~1% of my net worth). I don't
believe this car is considered a classic or even near it yet. Question is, Do I throw caution to the wind and drive the darn thing and
quit ruminating about whatever might happen when I'm out enjoying it? What's triggered me to ask this is my college-aged kids ribbing me about
never driving the car and being overly-protective of it and I know they're right.
Thanks!
First, I'm unendingly appreciative for all the financial guidance I've received over the past few years that's enabled
my approaching retirement in 8-11 months (@56 y/o). I have a very low mileage BMW (2006 M Roadster w/ 17k mi)
that's a thrill to drive but I don't do so much due to my fear that it'll get a door ding, scrape, add miles and that if/when I decide to sell
the car, those dings and/or mileage will diminish it's resale value to some degree (it's currently worth ~$30K which is ~1% of my net worth). I don't
believe this car is considered a classic or even near it yet. Question is, Do I throw caution to the wind and drive the darn thing and
quit ruminating about whatever might happen when I'm out enjoying it? What's triggered me to ask this is my college-aged kids ribbing me about
never driving the car and being overly-protective of it and I know they're right.
Thanks!
LBYM
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Re: Drive the Dang Car?
Likewise, maybe buy a beat-up Miata or S2000 and go have some fun.
Unless you think you can do that with this car...
Some people spend $30K on a once-in-a-lifetime vacation. You spent $30K on this car which can provide many years of fun trips/experiences. Go enjoy them, run it up until it finally dies, and then write-off the $30K as many, many good memories. Or take my initial advice and get something more reliable to do the same with, saving on future maintenance costs that most BMW's will generate.
Re: Drive the Dang Car?
A car like this is supposed to be enjoyed. If you can't bring yourself to do that you should sell it and buy something you can enjoy without worrying. A Miata would be my choice. I'm partial to the 1999-2004 version, or the current model that's been out a few years. You should be able to find one that's cheap enough or already beat up enough that you can just have fun with it without thinking about adding miles and putting dings in it.
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Re: Drive the Dang Car?
Just relax and have fun with it and plan to drive it til it dies without worrying about resale value. Once it gets a little dinged up it’ll still be fun to drive and you won’t have to worry about it any more.
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Re: Drive the Dang Car?
Drive it like you stole it. You only live once or twice.
Re: Drive the Dang Car?
Of course, any dings or defects that you acquire are easily repaired. That being said, it sounds like you should sell it and get a beater.
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Re: Drive the Dang Car?
Either drive it, or buy something a little beat up. (I realize that option 1 of driving it isn't possible, I, like you, have a mental issue, would rather someone else beat it up, then me, haha!)
I used to be like you. Parked miles away, no food in the car, washed it weekly, waxed it every 3-months, etc.
However, it just isn't worth it. I found that I only kept those cars like that... to impress others. Then I decided my time is more valuable than what others think.
After going up in car costs, from a Kia Optima to a BMW 328i, 335i and then M3, I went backwards and ended up with an old Infiniti G35 that had clearcoat missing and many dings.
I have owned it 6-years and have washed it once because it came with an oil change. It looks like crap, but I save over a hundred hours a year on "cosmetic upkeep" now that I choose my time over what others think.
I used to be like you. Parked miles away, no food in the car, washed it weekly, waxed it every 3-months, etc.
However, it just isn't worth it. I found that I only kept those cars like that... to impress others. Then I decided my time is more valuable than what others think.
After going up in car costs, from a Kia Optima to a BMW 328i, 335i and then M3, I went backwards and ended up with an old Infiniti G35 that had clearcoat missing and many dings.
I have owned it 6-years and have washed it once because it came with an oil change. It looks like crap, but I save over a hundred hours a year on "cosmetic upkeep" now that I choose my time over what others think.
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Re: Drive the Dang Car?
Put a door ding in it on purpose. Now you won't feel bad about taking it out and putting another scratch in it. The first one is always the hardest....
Re: Drive the Dang Car?
Drive it, who cares about the resale value for a fun, weekend car. Don’t keep the mileage down for the next owner if you like driving it. The whole point of this car is to bring you joy. If you can’t bring yourself to do that then feel free to let it go.
Re: Drive the Dang Car?
Paintless Dent Repair (PDR) is relatively inexpensive, so I don't worry about dings and dents anymore. I just have them fixed once a year.
Re: Drive the Dang Car?
Don't take it to the supermarket but do some daily drives... loop on B roads, apple picking and on... somewhere where you can control the parking or have none on the other end.... Sounds like a nice drive. With that milage, your hurting the car.
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Rob |
Its a dangerous business going out your front door. - J.R.R.Tolkien
Re: Drive the Dang Car?
Do you drive another car now that's worth $30k? If so you feel the same way about not wanting to damage that car?
Re: Drive the Dang Car?
Our 2019 car that we bought new now has 58K miles and is getting worn in some areas. It's called living life.
My SIL bought a new car last year. She came over to show us, but didn't allow us to sit in it because "we might get it dirty". She really emasculated my brother (which my wife and I still snicker about today) by not allowing him to touch it. We were busting up laughing.
If we ever buy the same car, my wife and I said, we'll go over and show it off to them while eating burgers and fries inside it.
My SIL bought a new car last year. She came over to show us, but didn't allow us to sit in it because "we might get it dirty". She really emasculated my brother (which my wife and I still snicker about today) by not allowing him to touch it. We were busting up laughing.
If we ever buy the same car, my wife and I said, we'll go over and show it off to them while eating burgers and fries inside it.
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Re: Drive the Dang Car?
I have a 25 year old car. Every time I do work around the house I scratch it. I have hauled concrete, wood and concrete block in it. Now I don't scratch it on purpose but it seems to come with the work. It may sound strange but I consider it a benefit that I have an old car vs. a new car. I don't have to worry about it. I plan to drive the wheel off of it.thrifty_one wrote: ↑Sun Sep 19, 2021 4:18 pm Hi All,
First, I'm unendingly appreciative for all the financial guidance I've received over the past few years that's enabled
my approaching retirement in 8-11 months (@56 y/o). I have a very low mileage BMW (2006 M Roadster w/ 17k mi)
that's a thrill to drive but I don't do so much due to my fear that it'll get a door ding, scrape, add miles and that if/when I decide to sell
the car, those dings and/or mileage will diminish it's resale value to some degree (it's currently worth ~$30K which is ~1% of my net worth). I don't
believe this car is considered a classic or even near it yet. Question is, Do I throw caution to the wind and drive the darn thing and
quit ruminating about whatever might happen when I'm out enjoying it? What's triggered me to ask this is my college-aged kids ribbing me about
never driving the car and being overly-protective of it and I know they're right.
Thanks!
- Sandtrap
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Re: Drive the Dang Car?
An option:
As long as you have space in your enclosed garage for 2 cars.
Get a used Mazda Miata convertible and have great fun with it forever.
Get either a Nissan Armada or Toyota Sequoia SUV or a full size 4wd. pickup truck and have other's fear you vs the other way around.
j
As long as you have space in your enclosed garage for 2 cars.
Get a used Mazda Miata convertible and have great fun with it forever.
Get either a Nissan Armada or Toyota Sequoia SUV or a full size 4wd. pickup truck and have other's fear you vs the other way around.
j
Re: Drive the Dang Car?
Use it or sell it. Leaving it sit in the garage is abuse.
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Re: Drive the Dang Car?
Thanks for all your responses! i've been considering selling it for the last year due to my 'can't drive it' issue so will likely do that next spring if I can't bring myself to drive it out to see my daughter in college this fall and leave it parked on the street overnight
Btw, My daily driver is a 2013 Ford Fusion w/ a large deer dent in it I've never fixed & 190K miles so couldn't be further from a 180 degrees from the bmw but the Ford is admittedly more my 'style'
Btw, My daily driver is a 2013 Ford Fusion w/ a large deer dent in it I've never fixed & 190K miles so couldn't be further from a 180 degrees from the bmw but the Ford is admittedly more my 'style'
LBYM
Re: Drive the Dang Car?
I have a slightly different point of view for you to consider. I recently ended a 25 year relationship (affair) with a 1965 Corvette. I only sold ( with tears in my eyes as the new owner drove out of the driveway) because DW and I moved out of the country. And it was not a daily driver; just for fun drives.thrifty_one wrote: ↑Sun Sep 19, 2021 6:18 pm Thanks for all your responses! i've been considering selling it for the last year due to my 'can't drive it' issue so will likely do that next spring if I can't bring myself to drive it out to see my daughter in college this fall and leave it parked on the street overnight
Btw, My daily driver is a 2013 Ford Fusion w/ a large deer dent in it I've never fixed & 190K miles so couldn't be further from a 180 degrees from the bmw but the Ford is admittedly more my 'style'
For your situation, you could think about weekly, (early Sunday AM?) longer point A to point A drives, say 50-100+ miles. Each time you take the car out will be fun and exciting. Driving fun cars to work, errands and groceries is not as much fun ( depends on the drive) and depending on how much "fun" the car is, can be draining. I found that if I had not driven a fun car for a while, that when I got back in, it felt amazing and retained all the attributes that I initially found so entrancing (had a '69 Alfa GTV that was in the shop for a while and I had begun to see that it felt sloppy and had other issues...when I got the car back I was amazed by how good it felt again!).
Something to think about; that is what I did for 25 years. It was fun!
“The eye sees only what the mind is prepared to comprehend.” |
— Robertson Davies
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Re: Drive the Dang Car?
Glad to hear about the Ford. You scared me for a minute I thought the BMW was your only car. Sell the BMW.thrifty_one wrote: ↑Sun Sep 19, 2021 6:18 pm Thanks for all your responses! i've been considering selling it for the last year due to my 'can't drive it' issue so will likely do that next spring if I can't bring myself to drive it out to see my daughter in college this fall and leave it parked on the street overnight
Btw, My daily driver is a 2013 Ford Fusion w/ a large deer dent in it I've never fixed & 190K miles so couldn't be further from a 180 degrees from the bmw but the Ford is admittedly more my 'style'
Re: Drive the Dang Car?
I've owned a few roadsters over the years, and the ones that I don't want to get scratched up only get parked in the garage. I go out for spirited drives on weeknights or the weekends, and drive it straight back into the garage. Sounds boring, but I love it and never have to worry about #&@%*( people dinging it in the parking lot sight unseen. The worst offenders are when I intentionally park it at the empty side of the lot, and someone decides to park right to me anyway.
I usually take out one of my beaters for errands.
I usually take out one of my beaters for errands.
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Re: Drive the Dang Car?
If you’re not already a member, join the BMW Car Club. Bmwcca.org There your local chapter will have opportunities to meet other enthusiasts at cruises, car shows and driving schools. That’s a great car you have, please go out and enjoy it. We have a 10 year old X5 that is our daily driver but we also regularly take it on forest service roads to put the all wheel drive to good use!
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Re: Drive the Dang Car?
We've bought one new car in the past 20 years, a Forester. The next day we took it up a mountain road with washout ravines four feet deep, gravel that flies in the air, and brush that scrapes the sides and top. I counted four dings and one long scrape when we got home.
Production line cars aren't works of art, they're transportation. They exist to take us places, and provide enjoyment doing so.
Marylander1
Production line cars aren't works of art, they're transportation. They exist to take us places, and provide enjoyment doing so.
Marylander1
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Re: Drive the Dang Car?
those scratches and dings bring back good memories! Desert pin stripes are a free option for vehicles taken off road.Marylander1 wrote: ↑Sun Sep 19, 2021 10:19 pm We've bought one new car in the past 20 years, a Forester. The next day we took it up a mountain road with washout ravines four feet deep, gravel that flies in the air, and brush that scrapes the sides and top. I counted four dings and one long scrape when we got home.
Production line cars aren't works of art, they're transportation. They exist to take us places, and provide enjoyment doing so.
Marylander1
Re: Drive the Dang Car?
I once had a pair of fancy shoes like your BMW. I hardly ever wore them over years and years but always remembered I had them in a special place. When I finally decided to wear them as my daily biz casual to work, the bottoms completely disintegrated the very first day due to age.
I had an old bottle of Dom that sat for years while I waited for something big to celebrate. When I finally opened it, it was sour.
In both cases I regretted waiting for so long to enjoy what I have. I won't do that again.
I would say to you stop worshipping the car. Use it as your daily driver while it still works. Just take reasonably good care of it and not obsess.
I had an old bottle of Dom that sat for years while I waited for something big to celebrate. When I finally opened it, it was sour.
In both cases I regretted waiting for so long to enjoy what I have. I won't do that again.
I would say to you stop worshipping the car. Use it as your daily driver while it still works. Just take reasonably good care of it and not obsess.
Re: Drive the Dang Car?
Being a car enthusiast, this saddens me. What is your goal for this car? Is it to keep it for 30 years and hope it becomes a classic? If so, keep doing what you're doing. Otherwise poop or get off the pot. Enjoy the car or sell it and let someone else enjoy it.thrifty_one wrote: ↑Sun Sep 19, 2021 4:18 pm Hi All,
First, I'm unendingly appreciative for all the financial guidance I've received over the past few years that's enabled
my approaching retirement in 8-11 months (@56 y/o). I have a very low mileage BMW (2006 M Roadster w/ 17k mi)
that's a thrill to drive but I don't do so much due to my fear that it'll get a door ding, scrape, add miles and that if/when I decide to sell
the car, those dings and/or mileage will diminish it's resale value to some degree (it's currently worth ~$30K which is ~1% of my net worth). I don't
believe this car is considered a classic or even near it yet. Question is, Do I throw caution to the wind and drive the darn thing and
quit ruminating about whatever might happen when I'm out enjoying it? What's triggered me to ask this is my college-aged kids ribbing me about
never driving the car and being overly-protective of it and I know they're right.
Thanks!
I used to be a bit similar to you. Back then I hated driving my fun car though a puddle because that meant I needed to wash it again the next day. The car owned me and added far more stress than necessary. Today, I don't even wash my car. I could car less what it looks like on the outside as long as the inside is clean and the car is fun to drive.
Figure out why you bought the car and why you are so afraid of the dings/scratches. You have enough wealth that if you get a few scrapes on it and the car is worth a few thousand less when you actually sell it wont mean a darn thing. Again, if you can't get past that then sell it.
EDIT: If you desire, let me know and I will happily drive up and take your car for a joy ride on your behalf.
A time to EVALUATE your jitters: |
viewtopic.php?p=1139732#p1139732
Re: Drive the Dang Car?
Considering that you have a $3 million nw, I don't think $30,000 is a lot for a car for you in this market so much that you should be treating this car with kid gloves and sweating depreciation.
Drive the dang car.
Drive the dang car.
50% VTI | 20% VXUS | 20% BND | 10% QQQ
Re: Drive the Dang Car?
Sell it on Bring A Trailer or CarsnBids and then, as sandtrap suggested, buy two that you WILL drive.thrifty_one wrote: ↑Sun Sep 19, 2021 4:18 pm Hi All,
First, I'm unendingly appreciative for all the financial guidance I've received over the past few years that's enabled
my approaching retirement in 8-11 months (@56 y/o). I have a very low mileage BMW (2006 M Roadster w/ 17k mi)
that's a thrill to drive but I don't do so much due to my fear that it'll get a door ding, scrape, add miles and that if/when I decide to sell
the car, those dings and/or mileage will diminish it's resale value to some degree (it's currently worth ~$30K which is ~1% of my net worth). I don't
believe this car is considered a classic or even near it yet. Question is, Do I throw caution to the wind and drive the darn thing and
quit ruminating about whatever might happen when I'm out enjoying it? What's triggered me to ask this is my college-aged kids ribbing me about
never driving the car and being overly-protective of it and I know they're right.
Thanks!
You can look up past auctions on BAT by Make/model
Doing the math, this looks like a 40th birthday present/midlife crisis purchase.
Fine, done....now give yourself permission to buy a toy and something utilitarian.
BTW, from what I am seeing, $30,000 may be a gross under estimation.
Re: Drive the Dang Car?
As a serial collector of all sorts of nonsense, I see this issue come up in every collecting hobby, and it's a constant debate. Some people derive joy just from owning something special & pristine and others derive joy from using something special and putting their own history on it (btw, these two camps often collide). I think you should figure out what makes you happy. If it makes you happy just to have a mint condition roadster, then continue what you've been doing - baby it and keep it in like-new condition. However, if you love the car because you love to drive it, then you should drive it to your heart's content. Alternatively, if you can't figure out what to do, buy another one - maybe cheaper with more miles on it (or another model that gives you a similar thrill). Keep one pristine and drive the heck out of the other one.
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Re: Drive the Dang Car?
I have a friend who restores Mercedes. He can get me a good price on one, but there is a caveat: I don't drive enough and these vehicles are meant to be driven. The engine, gaskets and all the other parts were not meant to sit idle. That's not including the need to just drive a vehicle to ensure the tires don't deflate or a critter takes up residence, builds a nest in it and has babies, then you have a stinky mess.
"History is the memory of time, the life of the dead and the happiness of the living." Captain John Smith 1580-1631
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Re: Drive the Dang Car?
I believe that model is referred to as the SHOE.
Minor damage should be fixable
Drive it!
Minor damage should be fixable
Drive it!
Re: Drive the Dang Car?
Sell the BMW. Buy something you can enjoy. Much easier to change cars than it will be to re-program your brain.
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Re: Drive the Dang Car?
The car will, one day, get a ding in it. You may or may not be the owner then, but it will happen. Heck, eventually the whole car will be a heap of rust. All things wind up broken/destroyed--we're just the caretakers of those things for some period of time before that happens.
There's a old story about a drinking glass that a Zen master enjoys and uses, but sees as being "already broken", because that's how it will one day be. When the day come that it does get broken, the master will simply think "of course".
Maybe you need to similarly view your BMW as being "already damaged".
There's a old story about a drinking glass that a Zen master enjoys and uses, but sees as being "already broken", because that's how it will one day be. When the day come that it does get broken, the master will simply think "of course".
Maybe you need to similarly view your BMW as being "already damaged".
"Stay on target! Stay on target!"
Re: Drive the Dang Car?
With a stated nw of ~$3M, I imagine at least a portion of that is invested in equities. What do you do when the stock market goes down? If you are concerned about losing a fraction of a percent of your nw due to a scratch on a car, how do you handle stock fluctuations? The two seem incongruent.
You may be letting the tail wag the dog. I am genuinely curious, not just being a smart aleck.
You may be letting the tail wag the dog. I am genuinely curious, not just being a smart aleck.
Re: Drive the Dang Car?
I echo the other posters. Enjoy the car but you can still be prudent where you park it and take the furthest parking spot in the mall like I do .
Another option is just to get the car detailed after you accumulate few scratches or dings. No biggie will run you few hundred bucks and you can enjoy your pristine car. Good luck, my vote is keep it and drive it have fun you can afford it .
Another option is just to get the car detailed after you accumulate few scratches or dings. No biggie will run you few hundred bucks and you can enjoy your pristine car. Good luck, my vote is keep it and drive it have fun you can afford it .
Re: Drive the Dang Car?
No, no, no, no.............not this!! The car is valuable and will likely remain valuable. It's not THAT valuable that you shouldn't be afraid to drive it. I own the M Coupe variant with similar miles and is more valuable. I drive it! You bought it to drive and enjoy driving it. Drive it but be careful. Some additional miles are not going to diminish it's value to the point you regretted driving it. These are the last of the great and pure BMW M cars. No automatic trans (in the M variants), no push button start, no back up camera, no ugly infotainment screen, and a body design that will stand the test of time! Yes, drive the dang car!!
Re: Drive the Dang Car?
You clearly don't have a problem daily driving a "modern beater" (me neither). So reading this combined with your original post makes me think that in your heart, you simply view the Z4 as an asset rather than as a passion.thrifty_one wrote: ↑Sun Sep 19, 2021 6:18 pm Btw, My daily driver is a 2013 Ford Fusion w/ a large deer dent in it I've never fixed & 190K miles so couldn't be further from a 180 degrees from the bmw but the Ford is admittedly more my 'style'
Cars are terrible assets. But it's such a small portion of your wealth that it does not really matter what you do with it. if you want to drive for fun, cause a 2013 Fusion is very useful but not what I would call fun, make a list of what makes a car fun for you and tailor your purchase to those attributes. Don't just go buy another roadster.
As I've gotten older I've realized that what I really want are a compact pickup and a Euro luxo-barge, and that I enjoy admiring other people's sports cars. I own neither but someday when I have more space I will.
Re: Drive the Dang Car?
I also assume it's a Z4 M but that was never stated explicitly, your post is the first saying Z4. $30k sounds like a lot, but used car prices have ballooned. And if true probably worth much more now than it was fairly recently. Even my definitely pre classic 2018 M2's price went up 25% as a 3 yr old over the price as a 2 yr old, which was among the reasons I sold it recently (the M2 also sat around almost all the time when we were home except weekly warm ups, however was used for long road trips, last one alone 7k of its 22k miles; I wasn't afraid it would get scratched driving across the country, and it was a lot of fun on winding mountain and coastal roads, but we decided an X3 M40i SUV was more practical overall). You probably shouldn't try to decide where the stock market is going next but I think it would be worthwhile in this case to be sure what the car's worth, what it *was* worth a year ago, and decide whether you think it will be a good *investment* from here. Along with thinking about enjoying it more while wearing it out, as another alternative.cbs2002 wrote: ↑Mon Sep 20, 2021 1:59 pmYou clearly don't have a problem daily driving a "modern beater" (me neither). So reading this combined with your original post makes me think that in your heart, you simply view the Z4 as an asset rather than as a passion.thrifty_one wrote: ↑Sun Sep 19, 2021 6:18 pm Btw, My daily driver is a 2013 Ford Fusion w/ a large deer dent in it I've never fixed & 190K miles so couldn't be further from a 180 degrees from the bmw but the Ford is admittedly more my 'style'
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Re: Drive the Dang Car?
thanks @mirror , Here's how I process this: I'm okay w/ market corrections (~70% equities)mirror wrote: ↑Mon Sep 20, 2021 12:57 pm With a stated nw of ~$3M, I imagine at least a portion of that is invested in equities. What do you do when the stock market goes down? If you are concerned about losing a fraction of a percent of your nw due to a scratch on a car, how do you handle stock fluctuations? The two seem incongruent.
You may be letting the tail wag the dog. I am genuinely curious, not just being a smart aleck.
since I have a 3 yr cash buffer and the market isn't something I have control over. I do have control over where/when my
roadster's driven & parked.. the tail's definitely wagging the dog tho like you say .. my plan tomorrow is drive it work as therapy
LBYM
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Re: Drive the Dang Car?
I heard this advice on Kick an Klack ( NPR )
go out and hit it with a ball peen hammer..........once that is done you don't have to worry about it getting dinged because it already is!!!
go out and hit it with a ball peen hammer..........once that is done you don't have to worry about it getting dinged because it already is!!!
David
Re: Drive the Dang Car?
Corolla, Miata, Tesla, Subaru...just kidding. Its only 1% of your NW, what are you worried about. You probably lost at least the BMW on paper today
Re: Drive the Dang Car?
The market will eventually come back - the car, however, is unlikely to resurrect!thrifty_one wrote: ↑Mon Sep 20, 2021 4:12 pmthanks @mirror , Here's how I process this: I'm okay w/ market corrections (~70% equities)mirror wrote: ↑Mon Sep 20, 2021 12:57 pm With a stated nw of ~$3M, I imagine at least a portion of that is invested in equities. What do you do when the stock market goes down? If you are concerned about losing a fraction of a percent of your nw due to a scratch on a car, how do you handle stock fluctuations? The two seem incongruent.
You may be letting the tail wag the dog. I am genuinely curious, not just being a smart aleck.
since I have a 3 yr cash buffer and the market isn't something I have control over. I do have control over where/when my
roadster's driven & parked.. the tail's definitely wagging the dog tho like you say .. my plan tomorrow is drive it work as therapy
Re: Drive the Dang Car?
So your the %$^% that keeps parking right next to me on the far end of the carpark Never fails - I park on an end spot at far end and someone will park in the spot right next to me
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Rob |
Its a dangerous business going out your front door. - J.R.R.Tolkien
Re: Drive the Dang Car?
If it stresses you out, sell it. A garage queen is not much fun.
I was the same about a new vehicle I bought. Now it has over 60,000 miles and a few blemishes, I don’t care as much and just drive it. To be honest, I will be happy when it has over 100,000 miles as it will have served its purpose and the cost of ownership will seem more like a flat line.
I was the same about a new vehicle I bought. Now it has over 60,000 miles and a few blemishes, I don’t care as much and just drive it. To be honest, I will be happy when it has over 100,000 miles as it will have served its purpose and the cost of ownership will seem more like a flat line.
Fools think their own way is right, but the wise listen to others.
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Re: Drive the Dang Car?
Your kids are right!thrifty_one wrote: ↑Sun Sep 19, 2021 4:18 pm Hi All,
First, I'm unendingly appreciative for all the financial guidance I've received over the past few years that's enabled
my approaching retirement in 8-11 months (@56 y/o). I have a very low mileage BMW (2006 M Roadster w/ 17k mi)
that's a thrill to drive but I don't do so much due to my fear that it'll get a door ding, scrape, add miles and that if/when I decide to sell
the car, those dings and/or mileage will diminish it's resale value to some degree (it's currently worth ~$30K which is ~1% of my net worth). I don't
believe this car is considered a classic or even near it yet. Question is, Do I throw caution to the wind and drive the darn thing and
quit ruminating about whatever might happen when I'm out enjoying it? What's triggered me to ask this is my college-aged kids ribbing me about
never driving the car and being overly-protective of it and I know they're right.
Thanks!
Re: Drive the Dang Car?
You are obsessing over damage/mileage to a 15-year old car? My, you are a thrifty one!
Re: Drive the Dang Car?
Drive the dang car! My daily driver is a 2004 Z4 and it brightens the most mundane of errands. Cars are meant to be driven. Yes, there are a few minor dings on my car but I still get compliments on it (from millennials, no less; I must be cool!).
Re: Drive the Dang Car?
Have you seen the prices of S2000s? They're bigger collector cars than his BMW. Prices went through the roof cause they're high revving and fun track cars. BMW M3 owners talk about them as their second cars all the time. (Miata is fine as the prices are crazy low on these)MotoTrojan wrote: ↑Sun Sep 19, 2021 4:22 pm
Likewise, maybe buy a beat-up Miata or S2000 and go have some fun.
Unless you think you can do that with this car...
Some people spend $30K on a once-in-a-lifetime vacation. You spent $30K on this car which can provide many years of fun trips/experiences. Go enjoy them, run it up until it finally dies, and then write-off the $30K as many, many good memories. Or take my initial advice and get something more reliable to do the same with, saving on future maintenance costs that most BMW's will generate.
As to OP - this almost feels like a troll post. What car isn't $30k these days that's actually worth driving! (And with a $3 mill net worth...lol)
Re: Drive the Dang Car?
Enjoy the ride!!thrifty_one wrote: ↑Mon Sep 20, 2021 4:12 pmthanks @mirror , Here's how I process this: I'm okay w/ market corrections (~70% equities)mirror wrote: ↑Mon Sep 20, 2021 12:57 pm With a stated nw of ~$3M, I imagine at least a portion of that is invested in equities. What do you do when the stock market goes down? If you are concerned about losing a fraction of a percent of your nw due to a scratch on a car, how do you handle stock fluctuations? The two seem incongruent.
You may be letting the tail wag the dog. I am genuinely curious, not just being a smart aleck.
since I have a 3 yr cash buffer and the market isn't something I have control over. I do have control over where/when my
roadster's driven & parked.. the tail's definitely wagging the dog tho like you say .. my plan tomorrow is drive it work as therapy