Hang onto the keys - Revcounter 439

By: Guy Allen

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A great time to keep hold of those keys

Maybe we should preface this by pointing out you should never, ever, accept financial advice from me – or any of the Unique Cars staff – without first getting a second opinion from someone who might actually know what they’re talking about. Right, here’s my tip for the day: do not sell that toy.

Okay, that is kind of a sweeping statement, and relatively easy to say from the comfort of an over-crowded shed. But stay with me on this. Almost everyone at the moment is saying that now is a bad time to sell given the uncertain state of the economy and the hair-riasing job losses, and there’s probably a little truth to that.

However the market had already flattened out to more realistic price levels and there may not be a whole lot more room to move. And people will be in the hunt. We know a few folk fortunate enough to have a bit of cash floating about, and they’re out there actively looking.

I also lean towards the view that if you’ve already gone to all the trouble of saving and scrimping to get that special car, you should do everything in your power to hang on to it, unless you’re selling to make room for another. Switching or upgrading is relatively straight-forward and involves a fair few thrills. Such as hooking an enthusiastic buyer and then hunting the replacment.

But starting from scratch, finding the room, motivation and cash to buy something that isn’t actually a necessity is a whole other ballgame.

Here’s the real catch: we sometimes forget to value what the toy provides in other, less measurable, terms. I think we all go through phases when a car is giving us the screaming irrits and you’ll happily sell. It will be because it’s just spat a component or you’ve skinned your knuckles changing an oil filter. "That’s it, I’m selling the bloody thing!"

Partner Ms M senior knows to ignore these little outbursts and, incredibly, has on occasion talked muggins out of a rash decision.

Why? Because, with a little luck we get a whole lot more out of the things than we put in. My old 633 shark snout is as good an example as any. It cost a mere $7500 several years ago, and I’ve probably sunk half that again into repairs.

Meanwhile it’s provided many hours of joy on drives, events, or just the odd trip out to the shed to give it a pat. What value do you place on that? So that’s really why I won’t sell.

Still, I suppose if needs must and we needed the cash, there will be other days and other cars...


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