OP
Yup, my kid is the main reason I consider selling it, priorities have shifted, but as others have pointed out, I should keep it precisely because of my kid. Decisions, decisions.
Should I sell my Viper?
- Thread starter Greenmachine
- Start date
Yup, my kid is the main reason I consider selling it, priorities have shifted, but as others have pointed out, I should keep it precisely because of my kid. Decisions, decisions.
mgroeger
TJ Enthusiast
Edward Turner
TJ Enthusiast
Emotions aside you probably need this to make financial sense, transportation issues take cold hard financial logic to make sense. How much is the insurance total until your kid can drive this? Every year you own it you have to deduct this from the appraised value along with licensing and property taxes. Hemmings has two @$60K this week, subtract what you paid for it from that along with your past and current tax/tag liabilities. There's your current max value, you know you'll have to negotiate any sale to get close and every year forward the constant drip, drip, drip of coverage and taxes will eat into that.
A lot of folks will tell you they regret selling a mass produced vehicle but they never bought another...why not? Because nostalgia is easy bank. If you really want to do something lasting for your child go see a financial advisor and start funding the future now.
Starrs
TJ Guru
I think if your going to sell the viper you should use the profits to pay off a mortgage or any outstanding debt...don’t throw it into your tj. If your selling to build up your tj that wouldn’t make any financial sense at all. If your going to sell that beautiful car pay off any debt you have. If you have no debt it would be a cool car to hang on to. A forum like this isn’t going to give you the answer you want...you know what you want to do more than likely by now.
OP
I still don’t know exactly what I want to do, other than to have my cake and eat it too!
But proceeds from selling it (if I do) would mostly go to good financial places (not sure I should pay down the mortgage though, with the very low interest rate that I have on it, but perhaps some of the $ would go to the mortgage also), I’m mostly thinking that the majority of the money would fund investments that can be used for my kid’s college and other needs with the ultimate goal financial freedom/retirement. I would probably add another TJ to the stable and have around 40k to invest.
But proceeds from selling it (if I do) would mostly go to good financial places (not sure I should pay down the mortgage though, with the very low interest rate that I have on it, but perhaps some of the $ would go to the mortgage also), I’m mostly thinking that the majority of the money would fund investments that can be used for my kid’s college and other needs with the ultimate goal financial freedom/retirement. I would probably add another TJ to the stable and have around 40k to invest.