To sell or not to sell...

[MoAMG]

As the title suggests, as of recent times, I have been seriously debating whether or not to sell my beloved E55 or not...

The main reasons I would want to sell would be; first of all, I hardly get to drive the car and I personally feel that it is simply going to waste on my driveway. Second of all, I could really do with the extra cash to help with my mortgage application...

On the other hand, I have spent so much money on the car over the years and it would be a real shame letting it go after I've gone so far with it...

I am keen to get your thoughts/opinions on this guys?

 

[Charles Morgan]

If you need the money sell it. I have bought and sold numerous cars over the years and not one do I regret selling if I needed the cash. When you are flush again, buy your next dream car, and drive it.

 

[The Bodyman]

Man. Bad news. That word, mortgage. Well, you know what to do.

Sorry. Not much help.

Jon

 

[Dieselman]

Man. Bad news. That word, mortgage.

I thought you were going to say this was the bad bit...

On the other hand, I have spent so much money on the car over the years and it would be a real shame letting it go after I've gone so far with it...

 

[John]

Unless you REALLY NEED the cash, for the likely amount you are going to get for it - I would hang on to it personally - particularly as you've spent good money keeping it ship-shape and you know the car well.

There isn't much you can buy at that level that touches the E55K as an all-rounder.

 

[Mick1982]

Sell it, pay your mortgage, then buy a better one (assuming it will take a number of years before being financially viable)!

 

[martyz]

I know this won't help you financially ........but, oh,umm..............KEEP IT.

 

[LTD]

You cannot keep the car you currently have on a driveway you cannot yet afford without selling the car first.

Sell the car, buy the house.

 

[paneraiseeker]

Keep it if your application fails then you can sleep in the car.....

 

[Starky]

What happened with trying to get 1000bhp bud?

 

[Mick1982]

What happened with trying to get 1000bhp bud?

He's buying a house instead.

 

[kinaero]

You have just answered your own question, you hardly drive the car!!

Invest in brick n mortar rather than having a lump of depreciating metal on your driveway, especially if this is your first property!!!

Easier said than done especially if you're a car enthusiast, but don't let your heart rule.

 

[SavMan]

Sell the car, you will have a larger deposit and increase your disposal income at the same time you lower your risk of an unexpected bill just when you least need it.

 

[Starky]

He's buying a house instead.

Just looking for a more in depth answers, but thanks for the heads up as I completely missed that.

 

[1945wickedred]

Hi good luck with the selling,I have been trying to sell my SL350 for a while now and it is very hard,had a few inquiries but nothing serious,are they just time wasters well maybe,I have made a good case for my car explaining all the new parts that I have added and with photos but still no sale and at a very good price,I too need the money at the moment,so I say once again good luck.

 

[Alps]

id agree, sell it, especially if you don't drive it much.

house is more important!

 

[Satch]

If it is the difference between getting a mortgage or being bounced, then not ordinarily a difficult decision but if you have put a lot of time & money into it it gets personal.

If it might make some difference then much tougher. Other issue is actually selling it at a fair price: pretty small population of serious buyers, many more wasters & chancers to annoy you!

 

[johnsco]

It's always the problem with up-market cars.
They are a whole lot of money to buy when new.
But - The market for second-hand buyers is always going to be limited.
Those who have serious money will buy new (or their companies will).
The real question is ... What is the car worth to you ?
If you sell it for a low price - How much does this help your mortgage ?
Decisions ... Life is full of decisions.

 

[kinaero]

I'd say cut your losses, sell your car, and buy a house!!
Assuming you managed to get your mortgage approved without selling your car.
It would cost you an arm and leg to run PLUS YOUR MORTGAGE PAYMENT!!!

 

[MoAMG]

Thank you all for your kind responses.

I think the verdict is out now. I need to get my priorities in order.

I've met a lot of really friendly people on this forum and I sincerely hope that I'll still be welcome on here even without a Merc...

With all the reluctance in the world, my beloved E55 is now up for sale.