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Thread: dodint's Automotive Evolution

  1. #481
    'Trep dodint's Avatar
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    Oh I know. I used his lap as an example precisely because he is so badass. He is doing the car a great service.

  2. #482
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    But getting that lap took ALL of his skill and prep... it might be unobtainable to mere humans. The Z06 might be able to roll off the showroom floor with an average guy behind the wheel and eclipse the SuperE46 by several seconds. I don't really get the nature of the comparison. It's just three numbers with no context.

    Still, if you've got four years to commit to this car *and* you're committed to Spec E46 it'd make sense to me to get going on it. It's a lower price of entry, and gaining years of experience with the car before you need to compete in it sounds like all win. Plus, E46s are not going to get easier to find. E36s are becoming scarce.

  3. #483
    'Trep dodint's Avatar
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    I've begun to shift focus and retool my budget to best accommodate the purchase of a DMC-12 as early as May. Trade away the 6 on the DMC (need to find a conventional dealer that accepts trades on classic cars) and then buy an E46 that can HPDE and pull winter duty. It's the course of action that scratches all my itches and keeps my garage from swelling into 5+ cars.

    On the E46 front, I really want this car: https://www.ebay.com/itm/2004-BMW-3-Series/222694656973

    It is exactly what I want. Slicktop stripper E46 coupe. The ZHP bits will have to be taken off to run SE46 but that won't be an issue for a few years. The car has about 50 watchers but no takers. It's a special car, but there may be only 20 people in the country that wants one, and it's not a popular time of year to be buying a project. NADA value on it just reaches for about $6k. If he relists it next week I *may* hit him with a best offer of about $5500 and see if he wants to play. I could fly down and drive it back before the snow gets crazy and then dump it in my MILs garage for the winter. Or drive it instead of the 6, dump that into storage for the winter instead.

    I think sacrificing the 650 is the only path to DMC ownership before my window closes in fall of 2018. That would mean no DMC until about 2021 if I don't do it now. And they're appreciating in value as it is.

    Exciting times.

  4. #484
    Bad Taste novicius's Avatar
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    Quote Originally Posted by dodint View Post
    Trade away the 6 on the DMC (need to find a conventional dealer that accepts trades on classic cars)
    Quote Originally Posted by dodint View Post
    The 650i is depreciating at a meteoric rate. It has lost $3k in NADA retail value since June, which is about 15% of its value.
    You're willing to take a hit on this deal on three ends: poor trade-in value for the 6 on top of the continued depreciation for the 6, and then dealer sticker price for a classic DMC?

  5. #485
    'Trep dodint's Avatar
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    Well, at the rate of acceleration of payments by April I will have caught up to the value of the 6 so I shouldn't be upside down on it. I can't buy a DMC until I have a winter car anyway so its not happening until the last threat of snow blows out.

    As for the DMC the value comes down to condition. I'm willing to pay about $35k for exactly what I want. It's possible I'll find something for $25k that needs work I can do and I'll just take that. If I find something in the lower range carrying a few thousand from the 6 won't matter. The DMC is a forever car so I don't really give a hoot how long it takes to pay off, so long as the payment doesn't strangle me.

    Today I calculated the absolute maximum loan I'm willing to take out to buy a DMC and calculated the payment. I took that amount and, starting next week, will be putting that sum towards the 6. It's about a 50% increase over what I'm paying on the 6 now. If I can happily maintain that payment then I know I'm good to go with proceeding with the transaction.

    I want a DMC badly. I almost had it in 2016. But I'm not willing to leverage myself to the gills to get it.

    I also might have an easy way out. I've been talking with the owner of DMC MW for a few years off and on. I think he might be willing to do the deal himself, or at least know a reputable collector dealer that will make it easier.

    The other route is a lot simpler. Just trade the six down on an E46 and buy the DMC outright. The only thing holding that up is that I'm swooning over that one I linked to so I won't be surprised if the E46 comes first. I can't see a scenario where the 6 sells via private party once it crosses 100,000 miles. I'm at 95k miles now.

  6. #486
    Bad Taste novicius's Avatar
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    Quote Originally Posted by dodint View Post
    Well, at the rate of acceleration of payments by April I will have caught up to the value of the 6 so I shouldn't be upside down on it.

    I can't see a scenario where the 6 sells via private party once it crosses 100,000 miles. I'm at 95k miles now.
    Regardless of the status of your loan, that lost extra money is depreciation in action. Ends up being value lost once you trade it in -- and then you're also accepting less-than-Market Value (which is already low) by trading it in on top of that. By focusing on only the monthly cost, it ends up costing you thousands.

    Unfortunately the only way to get your money's worth is to just drive the Sex-Fitty for 5 years... which I understand that you don't want to do so you gotta take the hit.

  7. #487
    'Trep dodint's Avatar
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    I admire your message but I'm not sure you've considered the audience. I'm juggling toy cars, not running a business. I didn't buy a 9 year old $80k (depreciated to $20k) GT car thinking I'd sell it for profit one day.

    I have previously considered your position before. Since the wife stuck me with both car payments instead of taking over the MINI as intended it has crossed my mind to sell the MINI (I dunno, for profit? Not sure, haven't looked) and giving her the 650. Part of the reason I'm in this position was because my purchase of the 650 was built on a budget that didn't include the MINI payment; my wife is underemployed. No big deal as I'm going to mooch off her like a mofo later but for now it's pinched off a lot of my options.
    Original plan was to keep the 650 for a while, then trade the Mustang on a new track car and pick up a DMC as well. I'm starting to explore options that are a little less cumbersome because her financial situation is only going to get worse as she enters her doctoral program (fully unemployed).

    You're talking about value lost and it's falling on deaf ears.

    Allow me to speak your language for a moment. Say I eat $4k on the 650 next summer and purchase a DMC in 2018. The 650 loan, as structured at original purchase, pays off in mid-2021. I would bet the title to a car of your choice that I make the $4k back up in DMC appreciation by 2025. The $35k car I want now was a $25k car in 2005. I'm not saying the appreciation is linear but I don't think it has peaked yet. The 650 will probably bottom out around $9k and stay there in perpetuity sometime in the early 2020s.

    That E46 I want in the ebay ad above has a maximum collateral value of $7600, for reference. The CV on my E36 was ~$2800.

  8. #488
    Bad Taste novicius's Avatar
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    Quote Originally Posted by dodint View Post
    You're talking about value lost and it's falling on deaf ears.
    Cool, just posting my thoughts.

    We still on for dinner tomorrow?

  9. #489
    'Trep dodint's Avatar
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    I was going to ask the same thing regardless of what your reply was.



    Fuck yeah. I just have to stop in Tomah and get some cheese. When we lived here nobody wanted it. Now all of a sudden I have curd orders from about four different people.

  10. #490
    Bad Taste novicius's Avatar
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    Noice.

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