Working out of town for a year

Overlord73 · 08-13-2016, 10:18 AM

Im really conflicted right now! After doing ED late last year on my SO F80 and picking my car up late Feb...I just found out that i will be on a temp assignment with a rental car for the next year and will only be home 2 weekends a month. Should I keep the car? Would I be better of selling and getting something else after I finish my assignment?? I have another car as a daily driver so I am getting rid of one car for sure. Any input would be appreciated.

Clarification...not leased paying her off!!

lukej · 08-13-2016, 10:21 AM

Is it a lease car?

Overlord73 · 08-13-2016, 10:22 AM

Nah sorry I should have stated not leased!! Paying her off.

lukej · 08-13-2016, 10:27 AM

I would probably keep the car,, just start it and run it on those two weekends are home.. Unless the dealer would give you a really good deal,, then buy another one after you're all done. But you're probably going to take a pretty good hit on it right now being that new .

lukej · 08-13-2016, 10:28 AM

Quote:

Originally Posted by Overlord73

Im really conflicted right now! After doing ED late last year on my SO F80 and picking my car up late Feb...I just found out that i will be on a temp assignment with a rental car for the next year and will only be home 2 weekends a month. Should I keep the car? Would I be better of selling and getting something else after I finish my assignment?? I have another car as a daily driver so I am getting rid of one car for sure. Any input would be appreciated.

Clarification...not leased paying her off!!

PS: Thanks for your service be safe ....

Overlord73 · 08-13-2016, 10:29 AM

Thanks but not in the military!!! Oil and Gas!!

duky · 08-13-2016, 10:37 AM

Sounds like the Schlumberger life! Anyway back on topic, do you need a car the two weekends that you're home? If you do then cool but if I was living in a city where I didn't need a car (and maybe I was also paying for parking) I would get rid of the car, save the payments and get something new when your assignment is up in a years time. Your paying for depreciation right now and not using it right?

JoePcone · 08-13-2016, 10:59 AM

Why hold onto a depreciating asset if you're not going to use it? Unless you'll get crushed on the trade-in/sale of it, I say sell it.

MFNATIK · 08-13-2016, 11:17 AM

Cars are really depreciating liabilities but in this case, it would be depreciating much slower since there will be less miles (wear and tear) being put on the car. If you really love the car and plan on keeping it long term, I say keep it. Why take a bath in it only to have to buy another one in a year? Keeping it and not driving it for a year will help it retain its value better.

rmizzle101 · 08-13-2016, 11:25 AM

Quote:

Originally Posted by MFNATIK

Cars are really depreciating liabilities but in this case, it would be depreciating much slower since there will be less miles (wear and tear) being put on the car. If you really love the car and plan on keeping it long term, I say keep it. Why take a bath in it only to have to buy another one in a year? Keeping it and not driving it for a year will help it retain its value better.

I agree with this as well. If you plan on keeping long term, keep it IMO.

GrussGott · 08-13-2016, 01:15 PM

Buying a car incurs all kinds of transaction costs as well as the depreciation so you'll need to just do the math: 1 years worth of payments vs (2x transaction costs) + depreciation. My guess would be the flat math will say ditch it.

That said, the real question is what happens after a year? Will you be in this situation again? Do you have any guarantee you'll be home for a few years?

If you think you'll have this kind of life for the next 5-10 years then if I were you I'd lower all my living costs to as close to zero as possible and save save save save. I'd ask my business to pay my expense on the weekends or, if you're in hotels, stay on points and ditch all your living costs.

Then use the interest on your wealth to pay for your fun later. deferred spending now means you can spend twice as much later forever

DC-T · 08-13-2016, 01:21 PM

Only drive mine on weekends. And that's if I'm not at MX. Keep

Xtabi · 08-13-2016, 01:24 PM

Whatever you decide at least look into adjusting your insurance coverage on it if I have not already done so.

mpizutti · 08-13-2016, 03:27 PM

Are talking about your car or wife...hahaha

cprx7 · 08-13-2016, 04:31 PM

dump the car/wife, find another car/wife at your new location

Msmall143 · 08-13-2016, 07:22 PM

if you look at typical depreciation, or forecasts of deprecation for these cars i believe its around 9-10k over the year you are suggesting. you would then need to add 12 months of insurance and 12 months of property tax to get an understanding of your total cost of ownership. once you get that figure you can compare it to the loss you would incur selling it.

if you think there is a possibility you would rebuy an m4 in a year, should you sell this one, you would want to consider the sales tax and fees associated with the repurchase.

you are probably close to 13-15k (your payment amount is irrelevant...the car depreciates the saem weather financed or paid in full) just to own this car for the next 12 months. is it worth 13-15k to have the car for 26 weekends?

its pretty simple math.

TurboM · 08-13-2016, 09:17 PM

I'd have to assume you are only thinking about this from a financial perspective. With that said, insurance cost is going to be a complete waste obviously but if you sell it you potentially throw away the $4-5k you paid in taxes when purchasing it new. Then there's depreciation...

Overlord73 · 08-13-2016, 10:15 PM

Thanks for all the feedback...its a tough decision. I did get a decent deal with my Euro delivery so i dont think I would take a massive loss. However at the same time my intent was always to keep her 6-7 years. What i may do is sell my DD which is a 2014 Forester XT keep
The F80 and see what happens when I finish this year long assignment.

zuschnell · 08-13-2016, 10:23 PM

Sell the car. In one year the new club sport package or whatever it's called will be out and you can get that. Or maybe something else like the Alfa qv will actually pan out and that will be an option.

BMWKLR · 08-20-2016, 12:15 PM

Where are you going? Can the car be driven or sent there? If so, take the rental money pay and use your car, but some companies/employers cant think outside the box and wont do it.

Overlord73 · 08-20-2016, 12:43 PM

I dont think m3 would be a good car in Montana so thats not really an option and as u alluded to companies dont like making exceptions to various policies regardless. Thanks for the input!

FC4 · 08-20-2016, 01:56 PM

A year in Montana? Wow...fuck that. Why can't you get a new job?

08-13-2016, 10:18 AM	#1
Overlord73 Second Lieutenant 53 Rep 196 Posts Drives: Carless Join Date: Oct 2009 Location: Houston iTrader: (7)	Working out of town for a year - should I keep her? Im really conflicted right now! After doing ED late last year on my SO F80 and picking my car up late Feb...I just found out that i will be on a temp assignment with a rental car for the next year and will only be home 2 weekends a month. Should I keep the car? Would I be better of selling and getting something else after I finish my assignment?? I have another car as a daily driver so I am getting rid of one car for sure. Any input would be appreciated. Clarification...not leased paying her off!!
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08-13-2016, 10:21 AM	#2
lukej Lieutenant 387 Rep 544 Posts Drives: 2020 M4 Comp, Join Date: Apr 2016 Location: Midwest iTrader: (0)	Is it a lease car?
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08-13-2016, 10:22 AM	#3
Overlord73 Second Lieutenant 53 Rep 196 Posts Drives: Carless Join Date: Oct 2009 Location: Houston iTrader: (7)	Nah sorry I should have stated not leased!! Paying her off.
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08-13-2016, 10:27 AM	#4
lukej Lieutenant 387 Rep 544 Posts Drives: 2020 M4 Comp, Join Date: Apr 2016 Location: Midwest iTrader: (0)	I would probably keep the car,, just start it and run it on those two weekends are home.. Unless the dealer would give you a really good deal,, then buy another one after you're all done. But you're probably going to take a pretty good hit on it right now being that new .
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08-13-2016, 10:29 AM	#6
Overlord73 Second Lieutenant 53 Rep 196 Posts Drives: Carless Join Date: Oct 2009 Location: Houston iTrader: (7)	Thanks but not in the military!!! Oil and Gas!!
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08-13-2016, 10:37 AM	#7
duky The Tanzanian 1317 Rep 1,511 Posts Drives: BMW M3, Audi RS6, Mini Cooper Join Date: Jan 2012 Location: Los Angeles, CA iTrader: (9) Garage List 2023 MINI Cooper SE [0.00] 2021 Audi RS6 Avant [0.00] 2016 BMW M3 [10.00]	Sounds like the Schlumberger life! Anyway back on topic, do you need a car the two weekends that you're home? If you do then cool but if I was living in a city where I didn't need a car (and maybe I was also paying for parking) I would get rid of the car, save the payments and get something new when your assignment is up in a years time. Your paying for depreciation right now and not using it right? __________________ 2023 F56 MINI Cooper SE Midnight Black II on Carbon Black 2021 C8 Audi RS6 Avant Mythos Black on Black/Grey 2016 F80 BMW M3 Black Sapphire Metallic on Silverstone
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08-13-2016, 10:59 AM	#8
JoePcone Lieutenant 145 Rep 468 Posts Drives: 2015 BMW M3 Join Date: Jul 2014 Location: Chicago, IL iTrader: (0)	Why hold onto a depreciating asset if you're not going to use it? Unless you'll get crushed on the trade-in/sale of it, I say sell it. __________________ 2015 F80 M3 - Yas Blue, Silverstone Full., Bilstein B6 shocks, Eibach Springs, Full M Performance Carbon Add-ons, Titan 7 Wheels. (past) 2012 E92 M3 - Melbourne Red - Eibach Springs/AG M359/ performance spoiler/ performance splitters/10mm spacers, Macht Schnell Test Pipes, Alpine Stage 2 Tune.
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08-13-2016, 11:17 AM	#9
MFNATIK Blocked from G80/G82 for having an opinion 3498 Rep 3,731 Posts Drives: Trek Domane Join Date: Aug 2014 Location: Mexicali iTrader: (1)	Cars are really depreciating liabilities but in this case, it would be depreciating much slower since there will be less miles (wear and tear) being put on the car. If you really love the car and plan on keeping it long term, I say keep it. Why take a bath in it only to have to buy another one in a year? Keeping it and not driving it for a year will help it retain its value better.
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08-13-2016, 01:21 PM	#12
DC-T Lieutenant 357 Rep 469 Posts Drives: F10 M5/Golf R/Amarok Join Date: Jul 2015 Location: Johannesburg, South Africa iTrader: (0)	Only drive mine on weekends. And that's if I'm not at MX. Keep
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08-13-2016, 01:24 PM	#13
Xtabi Colonel 1713 Rep 2,134 Posts Drives: 2016 M3 Join Date: Jan 2008 Location: Ohio iTrader: (0)	Whatever you decide at least look into adjusting your insurance coverage on it if I have not already done so. __________________ 2016 F80 \| MG/SO \| DCT \| Adaptive M Suspension \| 19" Black 437M Wheels \| CF Roof \| CF Trim
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08-13-2016, 03:27 PM	#14
mpizutti 2018 M3CS Pittsburgh 602 Rep 758 Posts Drives: 2016 528 , 2018 M3CS 2020 M8 Join Date: Jul 2015 Location: PA iTrader: (0) Garage List 2017 M3 [0.00] 2016 bmw m2351 [0.00]	Are talking about your car or wife...hahaha
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08-13-2016, 04:31 PM	#15
cprx7 Lieutenant 306 Rep 596 Posts Drives: 2011 X5 50i; Join Date: Mar 2009 Location: NJ iTrader: (1)	dump the car/wife, find another car/wife at your new location __________________ Untitled by supralx570, on Flickr
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08-13-2016, 07:22 PM	#16
Msmall143 Lieutenant 270 Rep 486 Posts Drives: BMW M4, BMW S1000RR Join Date: Mar 2016 Location: Loudon VA iTrader: (0)	if you look at typical depreciation, or forecasts of deprecation for these cars i believe its around 9-10k over the year you are suggesting. you would then need to add 12 months of insurance and 12 months of property tax to get an understanding of your total cost of ownership. once you get that figure you can compare it to the loss you would incur selling it. if you think there is a possibility you would rebuy an m4 in a year, should you sell this one, you would want to consider the sales tax and fees associated with the repurchase. you are probably close to 13-15k (your payment amount is irrelevant...the car depreciates the saem weather financed or paid in full) just to own this car for the next 12 months. is it worth 13-15k to have the car for 26 weekends? its pretty simple math.
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08-13-2016, 09:17 PM	#17
TurboM Captain 252 Rep 674 Posts Drives: 2018 F82 M4 ZCP Join Date: Nov 2013 Location: Atlanta iTrader: (1)	I'd have to assume you are only thinking about this from a financial perspective. With that said, insurance cost is going to be a complete waste obviously but if you sell it you potentially throw away the $4-5k you paid in taxes when purchasing it new. Then there's depreciation... Last edited by TurboM; 08-14-2016 at 11:45 AM..
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08-13-2016, 10:15 PM	#18
Overlord73 Second Lieutenant 53 Rep 196 Posts Drives: Carless Join Date: Oct 2009 Location: Houston iTrader: (7)	Thanks for all the feedback...its a tough decision. I did get a decent deal with my Euro delivery so i dont think I would take a massive loss. However at the same time my intent was always to keep her 6-7 years. What i may do is sell my DD which is a 2014 Forester XT keep The F80 and see what happens when I finish this year long assignment.
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08-13-2016, 10:23 PM	#19
zuschnell Captain 556 Rep 629 Posts Drives: '19 m5, '18 991.2 gt3, Join Date: Dec 2009 Location: chicago iTrader: (0)	Sell the car. In one year the new club sport package or whatever it's called will be out and you can get that. Or maybe something else like the Alfa qv will actually pan out and that will be an option. __________________ Gone but not forgotten: '10 X5M, '14 550ix, '17 M3 zcp, '11 aw e90 M3 zcp, ?11 sg e90 M3, '17 X5M, 19 F90 M5 Current: ?13 e92 m3 ESS 585, 22 f95 x5m Comp, Track - '18 manual 991.2 GT3, Wife's family truckster - '20 Volvo XC90 T8
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08-20-2016, 12:15 PM	#20
BMWKLR First Lieutenant 143 Rep 370 Posts Drives: white m235 cp RED w/gray pop Join Date: Jan 2008 Location: Pembroke Pines iTrader: (0)	Where are you going? Can the car be driven or sent there? If so, take the rental money pay and use your car, but some companies/employers cant think outside the box and wont do it.
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08-20-2016, 12:43 PM	#21
Overlord73 Second Lieutenant 53 Rep 196 Posts Drives: Carless Join Date: Oct 2009 Location: Houston iTrader: (7)	I dont think m3 would be a good car in Montana so thats not really an option and as u alluded to companies dont like making exceptions to various policies regardless. Thanks for the input!
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08-20-2016, 01:56 PM	#22
FC4 Brigadier General 2731 Rep 3,437 Posts Drives: Yes Join Date: May 2014 Location: US iTrader: (0)	A year in Montana? Wow...fuck that. Why can't you get a new job?
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