Problem, opinions needed..

[bpsorrel]

Well, after 13 years of working with them, my main client have just lost their franchise and so I've now lost my biggest paying client!

I'm running what has been an unreliable CLS, albeit the repairs (over £3Ks worth) were paid for under warranty.

It now has another couple of problems which will hopefully be fixed tomorrow.

I'm not in a position to keep paying out anymore, or at least 'till I get my business back up again.

So, would you guys

1. Keep the car 'cos it's a lovely car, and risk it - (though another big job and it would have to go SORN for a few months)..

2. Cut your losses, take a big hit on resale and just drive the Toyota Auris until the business gets going again and then look to get something nice again..

Just shows, you never know what's round the corner... Ah well, least it's not a health problem!!

 

[C240Sport97]

when does the warranty expire?

renew it and keep the car?

 

[bpsorrel]

Warranty has expired.... but I don't rate any of the after market ones so don't have one now. To be brutally honest, I can't afford a grand worths of warranty now anyway..

 

[BaldGuy]

if it was me personally... I'd take option 2, you then have wheels still and the money that would have been spent on the CLS can help you and the business.

There are plenty of CLS's out there fella

 

[bpsorrel]

Good point...

 

[w124nut]

Head vs Heart. Without knowing your circumstances, I would sell the CLS (option 2.)

 

[bpsorrel]

Well, I have money invested, but can't really touch it without taking a hit on my remaining income. With my main client gone, we're now living mostly off my share dividends, which is ok, but not a fortune and not enough to continue running a shed!

I'm leaning towards selling.. sadly...

 

[JasM]

As much as i love the 1st gen CLS, i too would go with option 2.

 

[Charles Morgan]

Flog it. The cash you've spent on it is long gone.

Sorry to hear about the business.

 

[bpsorrel]

Thanks Charles. I guess I was lucky to have the client so long. Not the first motor trade client I've lost in the last couple of years due to down turn of business, but this is the biggest and the saddest as they were the first when I began the business.

 

[davidjpowell]

I had a similar decision to make when I got rid of my 730D in 2009. One of my clients who passed on valuation work that was the 'fat' that made the difference could not renew their Professional Indemnity Insurance and went bump. Bit of a surprise as in pure work generation terms there were doing well.

I got rid with only very minimal loss (rang most dealers within a 50 mile radius - found one who new he could sell the car straight on, so happy to pay a bit more), and bought my first older car for cash.

My choice was take a risk and cause hardship for the family for a car or be sensible and cut the overhead.

 

[LTD]

Better to have food on the table than a car in the garage.

You still have the Toyota so let the CLS go.

You'll then really enjoy getting back into a Mercedes when the time merits it.

 

[Colin_b]

Another vote for downsizing to 1 car. The cash will be useful, a depreciating car isn't. You need to be practical and work on replacing the client with all your available assets.

Not a pleasant choice to have to make, I appreciate.

You can always buy another, when things improve.

 

[aquanaut]

Sorry to read about your circumstances...
I guess if it has been unreliable it would have to go. Hopefully things will pick up sooner rather than later

 

[Benzowner]

Option 3 Torch it

 

[Red C220]

Move it on, for now you need just transport, nothing else.

When things get moving again you then get the opportunity to go car shopping again.

 

[Ted]

Option 2

You have your health, a newish car and a beautiful wife. You're a really lucky bloke.
When things improve as they surely will it will be much sweeter.
I sincerely hope that won't be too far in the future.

 

[grober]

You were talking at one point about moving on to a E CLASS Coupe , so maybe you were getting itchy feet anyway? The fact you are contemplating moving it on----- that may be playing a subconscious part in your decision?? If you adored the car you would be moving heaven and earth to keep it surely. So I think you know the answer already. Just don't get into the mind set where you give it away--metaphorically speaking.

 

[st4]

Sell it. Money pits are not what you need right now...

Best of luck mate. Hope things do pick up for you.

 

[bpsorrel]

Thanks for all the advice!! (and kind wishes, I'm humbled!)

And yes, an E coupe was in the frame as next car, and I'd still like it to be......eventually!

But I think selling the CLS soon, using the Auris and using the cash to buy some comfort period while I sort out everything is a good idea!

I may yet be able to find homes for the now orphaned sites (I sensibly kept all ownership rights!) but even if possible, it will take a long time!