Last post on Sep 28, 2012 at 8:44 AM
You are in the Speed Shop Tuning and Modification
What is this discussion about?
Chevrolet Cobalt, Performance Mods
#4 of 8 Re: Keep it or Sell it? [Mr_Shiftright]
Sep 27, 2012 (4:44 pm)
I am aware of modding consequences. I had a 1994 Integra LSVTEC that I thought was the fastest car in the world and attempted to sale at "modded" value. I got laughed at in most cases. Had to settle for way less than I wanted to. I took steps to preventing the same thing from happening this time around. I kept all my stock parts and they're sitting in my basement. I purchased a spare ECU so I run around with my tuned ECU on a daily basis and when I go get warranty work or any work I swap ECUs.
So other than what I state on forums and to people, I don't imagine selling a stock Cobalt SS/TC is a problem. I still have my stock downpipe with stock cat, stock exhaust etc. All my parts are direct bolt on so it's an easy swap back. That said, I'm ready to accept a lower amount as well. I am fully aware that there's a chance I will have to lower my price to sell.
I also understand cars aren't "assets", but the fact of the matter is they are viewed as assets in most cases. I'm not trying to buy a car as an investment. I'm buying a car that I want over a Cobalt SS/TC, but I'm trying to do so with the least amount of financial hit. So would it be more financially sound to sell when the car is worth more or just go without a car payment?
In addition resale value doesn't depreciate at the same rate for all cars. I understand they do depreciate regardless, but a GTI will sell more used than a Cobalt SS/TC of the same production year with similar miles and features in 4 years from now. I of course don't know this as fact, but I'm willing to bet the statement is more probable than not. Say it's only hundreds, but I'd say more like $2,000-$4,000 difference in price.
Take the Dodge Caliber SRT-4, it for some reason (at least here in Colorado) still sells for $18k-$20k. Why is it still retaining so much "value" (Has less liability? by your logic)
I don't know, but what I'm asking advice on is, if you were in my situation, and you have the ability to sell your car that you enjoy for it's performance for a car that you'll enjoy for it's refinement and functionality but at the cost of performance would you sell while the car is worth more. Or save and just drive the car until it's dead?
This is more of a question of scenario more so than logic. More emotionally based rather than fiscal. It's a would you do it if you could type of question like, would you cheat on your wife for your favorite celeb type of question.
I hope you understand what I'm getting at
#5 of 8 Re: Keep it or Sell it? [vahdyx]
by steve_ HOST
Sep 27, 2012 (4:55 pm)
The True Cost to Own tool will let you compare depreciation and other "holding" costs over a 5 year period for new cars. Depreciation seems to run around 10% a year for those years and then drop off. There's no tool for "emotional" value though and I think you answered your own question with your question - "you're not 100% happy with".
Life is short, drive what you like.
Of course, driving them forever is more financially sound, but it sounds like the driving experience is one of your higher priorities. Something else can likely slide in exchange.
Pretty smart keeping the stock parts around. I'm one of those who walked away from a modded vehicle years ago because I didn't trust the reliability. With luck, you'll be able to sell the mods and recoup some of those costs too.
#6 of 8 Re: Keep it or Sell it? [vahdyx]
by Mr_Shiftright HOST
Sep 27, 2012 (8:14 pm)
Well judging from your past history with cars, if you sell the Cobalt, you'd better pick something that is also a kick in the pants, otherwise I suspect that you (like ME!) are going to get bored quickly. I sold my Subaru for a Mini Cooper S. Was the Subaru a better, more reliable car? Yes. Did I lose money selling the Subaru? Yes. Was the AWD and station wagon configuration more practical than a MINI? Yes.
Am I sorry I sold the Subaru? No.
Also I think your view of the market for the Cobalt and the Caliber SRT-4 is a tad optimistic. More like $16K for the Caliber. And remember, a Caliber SRT-4 even with modest options sold for $30,000 no problem, so the resale really isn't that good compared to your Cobalt.
#7 of 8 Re: Keep it or Sell it? [Mr_Shiftright]
Sep 27, 2012 (11:35 pm)
Okay cool, I get what you guys are saying. It's pointless to try and figure out what the best choice is by adding variables taking away rules etc. I'm just making it way to complicated.
Just ge what I like, who cares what it does and what it doesn't, just as long as I'm happy with it.
I knew this all along, I think, I just didn't want to think for myself so to speak.
LOL, and yes I get bored very fast, so I'm gonna need that kick in the pants haha.
Here's a link to the Calibers I referenced, they are 18-19k for less than 35k miles and the other is less money, but it has 50k miles
http://www.cars.com/for-sale/searchresults.action?prMx=20000&sf1Dir=DESC&prMn=0&- mkId=20012&mdId=20794&rd=75&crSrtFlds=stkTypId-feedSegId-mkId-mdId-pseudoPrice-t- rId&PMmt=1-1-1&stkTypId=28881&sf2Dir=ASC&sf1Nm=price&sf2Nm=miles&isDealerGroupin- g=false&trId=25139&rpp=50&feedSegId=28705&searchSource=GEO_SEARCH&pgId=2102&zc=8- 0033
The link is rather long, but if it doesn't work then what ever, it's not that important.
#8 of 8 Re: Keep it or Sell it? [vahdyx]
by Mr_Shiftright HOST
Sep 28, 2012 (8:44 am)
Well "asking prices" are merely the car dealer exercising his First Amendment Rights. He can ask whatever he wants, but I'm just not seeing how an SRT-4, of all things, would command such a high book price. I feel certain you could buy either of those $18K cars for $16K. The SRT-4 certainly has no more refinement than your Cobalt.