Leaving at the end of December to attend college in Honolulu HI for the next 2 years. Will not be bringing the car with due to lack of parking, and frankly I just don't need the car there. Bought it for 13k, the thing is loaded and in excellent condition. Brand new tires, brand new brakes. Has 48k miles on it. Could still sell for more than I bought it for. At the time I bought it, the same model year miles options etc. was going for about $17,500. It was a steal....

I have two options, keep the car at our house under a cover for 2 years in the garage, and just drive it when I come back in the summers.

-OR-

The dreaded option, sell it, get the 15, 16, or17k for it, pocket it, and just invest it over the next few years, and buy a 3 series or another cooper when I'm done with school or something like that.

Which makes more sense? Probably the second option...but damn, I never wanted to get rid of this thing. I always wanted to keep it. I won't have a car to drive when i'm back for the holidays and summer, but at the same time, it will just be sitting and depreciating in value....no one will be driving it, and if I could make some money off of it, then clearly that makes more sense.....the emotional side of it is the tough part....

What would you do if you were in my shoes?

 

You already know!

 

If I were you, I'd keep it. The '05 S is one of the best years/models of MINI out there, and you already know the ins and outs of yours. You could probably find another one when you got back, but every used car is a bit of a gamble. If you don't need the cash, I'd leave it in storage and enjoy it when you're home to visit.

In a few years I will likely be going to Europe for a year or two, and I plan to put my R50 in storage (or let my old man drive it.) while I am away.

 

Keep it! in 2 years you are going to have a very low mileage mini that is in great shape.

 

I'm pretty sure that I'd sell it; at least that what's I did when I went to Europe for two years. That way you'd not "lose" two years worth of depreciation, and you'd have some extra money to do with as you choose (a year later I bought a new car while in Europe).

I wouldn't like to have my car sit idle that long anyway, even if left in long term storage mode.

 

The real question is if you need the money or not. If you have debt that could be wiped free by selling the car, the financially responsible decision would be to put the money to good use. Now with that being said, since you are heading off the school there is a pretty good chance that you will want to use the money for other things like beer and hookers .

Keep the car, it shouldn't lose too much value for only a couple years without adding miles.

 

Two years is a lot of time for a car to sit. There's no guarantee you'll still be attached to it when you get back. Investing in appreciative assets is always a good option. No sense in making payments on a car you can't drive.

On the other hand, you've already got it and taking a hit on another new car may not make sense. If you've had it a while, you're already very familiar with it. When you return home, you have transportation available.

If it were me, I think I'd have to find a way to live in Hawaii and vacation in the lower 48.

 

The car is paid off already. not sure if i mentioned that. I decided to keep it.

 

I think I would still sell it but as others said if you need the $. If your going on your own dime you would want to sell vs loans that the $15-17k car could help pay for.

 

I would've said keep it, especially since you mentioned the emotional value. If the miles don't go up while you're gone, I couldn't see it depreciating too much over the years. Again, especially if you have someone to take care of it in your absence. From the pictures, it looks like a really nice one too