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12-14-2011, 10:52 PM | #1 |
Join Date: Dec 2011
Location: Ny Capital District
Posts: 12
Trader Rating: (0)
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Need Opinions-tough decision to make
Here goes-
I have a 1989 240sx restoration that I put together a few years ago with a lot of blood, sweat, and tears. I only drive her now and then. My daughter just started college and I need to raise money to pay for it. This has been a hard thing, but I realize that I have to sell the car. The car is really nice and I went first class on her. Spent about $50,000 putting her together. I am looking for opinions as to the best way to recoup my investment and have come up with a couple options: 1. Try to sell her for what I have in her- problem here is nobody has that kind of scratch, even though the 50K doesn't even include a huge amount of "sweat equity" I put into her. But, best to recognize that this option has about as much chance of happening as nothing at all. 2. Part her out, and take the chance that I won't get stuck with some big portion of her which doesn't sell, and which is useless without the rest of the car. Also, it seems like a sacrilege to take her apart, after I worked so hard putting her together. She is really quite unique, and cool, and beautiful the way she is. . . . . .2,300 lbs., and 344 hp RWHP! 3. Resign myself to taking a loss on her and put her up for sale at a deeply discounted price that I know people can afford, and take the tax loss to help my 1040 and improve my daughter's financial aid situation for school. I am leaning toward #3 above, but would be real interested to hear from people here about what they think. Anyone out there been in my situation? And if so, what did you do? Thanks in advance for your valuable input, Adirondackjack |
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