A tough few choices ahead.
Turbo Mini Forums

Firtstly sorry to dig up (attached) old threads.
Secondly, go stick the kettle on an make a brew before reading on.



Right, as some of you may be aware I split with the long term g/f a couple of months back (new one in tow so everythings good, lol) We was saving for a house and both fortunate to both be in well paid jobs, and had a fair amount of cash jointly to put down a deposit which meant (after a long summer working many hours to raise more funds) I could keep my toys, that being the Jet black ltd edition I rebuilt a few years back, and the minus I was planning to turbo.

On sat I went to see a mortgage adviser as Im really keen to get out of living at home and purchase, but due to now buying on my own, the money that I have to one side for the deposit is not enough (well it is, but not for the houses, and area I would like to live, (without sounding like a snob!)) So this has left me thinking about selling the minis, some of you may recal a thread I posted a while ago when money was tight and I concidered selling the jet black (http://www.turbominis.co.uk/forums/index.php?p=vt&tid=176408) and also the build thread I have running (altho no recent progress to update on the minus http://www.turbominis.co.uk/forums/index.p...=vt&tid=168459)
The dilema is, do I sell both, or just one, if I keep one, which? If I keep the minus Ill have to continue the build, very slowly, which is not an issue. If I sell the other I can possibly get a lot more cash for the house, than selling the minus, which would really help, but the car has more sentimental value to me as I have had it since I was 17/18. I had toyed with keeping the jet black, and possibly putting the turbo engine I built for the minus in it, and fitting the cooper s brakes and 10's, then selling off everything else I have ie minus and all the bits (not as a job lot, individually).
I really want to finish the minus tho, as the whole theme of the car is something I have wanted to do for so long.
What do you think I have is worth?
All advise and opinions as always is very appreciated.
Cheers guys
Shane.

Shane

I know where you are coming from. While I can't put a value on the cars, as I see it, what you have to consider is what will you be able to replace in the future? Obviously, the Jetblack has sentiment and therefore irreplacable whereas the minus could be replaced in a few years when you have a bit more cash.

The other view is that you can't keep everything for ever and sometimes you need to move on.

I had a similar situation a few years ago when I needed to raise cash and considered selling my countryman.

Rob

This is extra tricky bearing in mind the housing market. I'm sure in the next twelve months the average house will have dropped in value more than a mini is worth.

I'd hold off selling and keep saving.

Fastest 998 mini in the world? 13.05 1/4 mile 106mph

Shane, Id love a house and am desparate to move out, (nothing wrong with parents just want my own house and to get on the ladder).

As said the jet black has sentimental value but think how long are you planning on keeping it? sometimes its nice to have a change and move on in life. if youve spent a small fortune on it just think how long it is before you have to again. Maybe worth getting your money out of it now? . If your ansa is to keep it forever and ever then do what you can to do so.

Dont want to be a dick but with house prices today is selling one of the minis (both) going to raise enough cash to help you out ?

Ive got to sell the porsche (its paid for) so is a good deposit but ive added up whats in the mini and alltho its a fortune realisticly id never get half that back so no matter what am keeping it!!!. even if ive to beg to keep it in a garage out of the way for a few years il do my best.

If youve got most of bits (or big bits for minus) then try and keep it, maybe more money and quicker to sell the jet black.
Thing is when your in the house money will be tight so you carnt go out every night so the minus will be a nice project to keep you on with .

Dont no if thats helped ???

Rick

I think you have to look at your first house as an investment and not much more. You are never going to get what you want unless you earn lots (and having to sell a £2k to £3k car to make up a bit of cash you don't earn investment bank money.) It is called the property ladder for a reason.

First house make a few compromises and get the hand of a mortgage and all the expenses of owning a house. Then when you are settles and are probably earning more money and have paid off some of the mortgage and saved a bit more deposit, then move up the ladder and buy the house you want (within reason)

Basically keep the cars and look at the long term not the short.

http://www.twin-turbo.co.uk
http://www.hillclimbandsprint.co.uk/default.asp

A man without a project is like a like a woman without a shopping list.

As expected, some honest advise from you all, and all of it are thoughts Ive had, there are so many fores and agaisnts its unreal. Really am torn on what to do. I know im not going to gain huge amounts of cash from selling but its all money at the end of the day. The minus is worth more sold as parts, rather than an incomplete project, and putting a value on it and also the jet black is not easy being a buyers market, just really dont know what to do. Emmigration is another option tho........
Cheers
Shane

Decision made!
The minus is going to take too long to complete, so is going to be worked on as and when funds and time allow, meanwhile (as I cant bear to part with it) the jet black is going to have the 1275 turbo lump dropped into it, so I can at least have a little fun the summer.
On reflection the amount of money selling both the projects would only free up a very small amount of the money I need for the house (would be like pissing in the ocean, lol) so will start a build thread as soon as I get on it, am hoping for completion for london to brighton.
Cheers again for the advise.
Shane

Hi,
Good choice :)
Cheers,
Gavin :)

VEMs Authorised Installer / Re-seller. K head kits now available!

WB/EGT gauges. Click here for customers write-up

Visit www.doyouneedabrain.co.uk

My Mini build diary

Woooohooooo!

Well done and great decision!!

It will be a fantastic car!

In the 13's at last!.. Just

Well done shane, am glad your keeping both, ul love the turbo motor in the jet black just dont forget about the minus.

Keep us up to date.

Rick

Edited by cossierick on 21st Mar, 2008.

Good choise shane. Perhaps delay moving for abit, aleast until housing prices start to go down. Starting to happen around the country. :)

Jason Im desperate to get out! Can hack being at home, getting that bad im toying with renting, butthats just throwing money down the drain!
Shane