Hi All,

Normally I don't post on forums looking for advice, but I'm curious to get a few opinions regarding my current situation.

I've come to the point that I would really like to get a bigger vehicle (nothing fancy, I'm probably going to go with a Honda Element as I had one before and it was a great little hauler), heck I don't even own a vehicle with a backseat. I foolishly sold my first GP for the same reason, but I'm not wanting to go down that path again, and I'm carefully weighing my options. While I really, really can't justify having four vehicles, I can't bring myself to get rid of any one of the three either. From what I've been able to gather lately, GP's are holding their value quite well. Considering this fact, I figure I would just hold onto mine and continue using it as my weekend toy. Also, considering the interest rate deals on the Hondas right now (2.9%), and the fact that they tend to hold their value pretty darn well, what do I have to lose? I figure I will have more to lose if I get rid of the GP now and have to find one down the line again. If I end up having to sell the GP, I guess that's always an option.

Anyone in a similar situation or otherwise have an opinion?

 

I can't justify the idea of having four cars to myself so I understand your position and paying insurance on those has got to be a pain. Even though I am not a GP owner, I could never part with my MINI, especially not if I had a GP. I'd more readily let go of any other car, but given your choice of vehicles to part with, I'd almost be tempted to let go of the GP too. I also own three vehicles, and one of them is a Honda. I'm glad I'm not in your position, but if I were this is how I would look at it:

Financially speaking, which ever one you owe the most on is the one you should let go of. Hondas do hold their value fairly well and if you buy a Honda the odds are good that you will have the car for ten years. Heck, there is actually a guy out there that has documented driving his Honda Accord for 500,000 miles. So you will get your money's worth out of a Honda, also, best I can tell, none of your other vehicles can currently have their interiors cleaned out with a hose and some sunlight... The Element does make a lot of sense, especially if you spend a lot of time near the beach.

If you don't have any outstanding debt on the cars, then whichever one costs you the most to insure is the one you should let go of in favor of the Honda.

Emotionally, it would be hard to let go of any of those cars. I'd have to default to what seems smartest for my pocketbook and my lifestyle at the time and put complete faith in that choice so that I wouldn't look back and kick myself for selling one of those beauties.

Good luck to you my friend.

 

If it was me, I'd ditch the Viper. You've already got a RWD track machine in the Lotus which gets better gas mileage and I'm guessing has better insurance premiums. Plus, there are many more Vipers on the road than GPs.

 

Thanks for the replies -- both good points. Insurance costs aren't really that bad on any of them, and I'm looking to switch over to Grundy, which from what I'm told, should lower the costs quite a bit more. Honestly, I don't have to get a larger vehicle, it's not a necessity at this point. However, it would be nice to have. At this point the biggest liability would be the Viper, as the Lotus is paid for. However the Viper was recently purchased, so I don't have an interest in parting with it anytime soon. Decisions, decisions...

 

it doesn't seem you need a larger vehicle very often so RENT when you do.

Or

Only date woman w/ large cars is an option too

 

I'm kind of in the same situation, I have a 4x4 truck, GP 1118, and a R32 VW. None has the room for a few adults and I have been looking at FX35 to fill the bill. It is easy for me as the truck will go. As you stated the GP which you have replaced once will get alot harder to find with low miles and in great condition. Keep it and as the Energy Commission report today gas may be 7.00 a gal by 2010, so I echo selling the Viper. But in the end do what makes you happy. Good Luck

 

Who needs to have 4 cars?

 

My girlfriend has a MINI as well, so at least we have seating for four in that case, it's just a tight fit sometimes.

 

Problem with selling the GP is that it will be hard to get one back, and it will never be in the condition you want, for the price you'd probably want to pay. Definitely try to keep it if you can.

I was into motorcycles for over two decades, worked in the industry, test rode for BMW on the Ring, and I sold my limited edition, production #3/300 Boxer Cup Replika. I do regret it, but also sold it since I have kids.

But I'll never be able to get it back. Ask yourself if a picture is a good enough memory. For me, it has to be.

 

Keep the GP and sell the other cars; pocket the cash, take a vacation, pay off some debt and DRIVE THE GP EVERYDAY like I do. Great mileage, tons of FUN to drive and so UNIQUE. Good luck dude!

 

Well if I had those cars I would sell all three of them. Then I'd buy a Gallardo.

However, If I was you I would sell the GP. Your Gf already has a Mini, so you can get the mini fix anytime you need to. Then you have a SRT-10 which is a beast and a head turner. Then the Lotus for track days and spirited driving. I know some people don't feel this way, but Id take a lotus over a GP anyday.

 

Do you actually own any of the cars or does the bank own them?

 

Each poster has a different angle on it it seems, thanks, everyone. To answer the question, the Lotus is paid for, and the MINI has a decent amount of equity at this point, as well as the Viper. I guess I failed to express that I'm looking at the sale of the GP only at this point, I'm not considering the sale of the other two. I'm still leaning towards just having the 4th, but there is no rush at all for this. Thanks again for the posts..

 

I also had a few nice cars, I too would ditch the viper, Yesterday I saw one with 1000 miles for 39K, they will continue to drop, most of use you hagertys ins, so ins is not a big deal, however I also now keep two cars, my son drives one.

 

solution is easy then - sell her MINI !!!

 

LOL. She wouldn't part with it for a million bucks.

 

Obviously money is no object to you, so what the heck. Keep the GP, Lotus, and Viper and just get your Honda. Its a win-win situation. You get want you want and you get to keep all of your other cars.

By the way, what exactly do you do for a living and how can I join your profession?

 

Rob (nice name by the way),

Honestly, other than cars, I'm a pretty frugal guy. I'm self-employed (sales), and I try to save when and where I can, but cars are my one true weakness (always have been).

Anyway, I like your thinking.

-J

 

How come everyone in Orlando and Miami have nice cars? Is it just me or has everyone noticed this? hahaha

 

That's how we Floridians roll is all... on a side note, I'm in O-town and I could only dream of having a MINI and an exotic in my garage.

GotMINI

 

Unless you need a larger car on a regular bases, then keep them all and rent when you need. I have a MINI and my wife has a mustang. neither are much good for 4, but when we need it we rent what we need to get the job done. Much cheaper that insurance, registration and payments.

 

You ever watch a show called Miami Vice .

 

ahh yes the show that made me want a White Tessarossa

 

Excellent points, everyone, thanks! I'm going to take my time on this one, no rush.

 

I know this might be blasphemy to some, but I thought I remember someone add or retrofit rear seats to a GP. So, that might be a thought??