Keep car or is it time to move on?

[scubastove]

I've been contemplating keeping or selling my '02 M3. It's a 6spd coupe, topaz blue, I am the second owner. It's a beautiful car, mechanically sound, and rust free (from California). I love the car dearly, but, I just don't get to drive it much. I live on the East Coast in a major metropolitan area, and my current living situation does not have off-street parking. I wind up storing the car most of the year, under a cover in a storage garage unit, only taking it out a few weekends during the spring/summer at a time. It costs $115 per month to store the car and my classic car insurance policy costs $42 (so $157 monthly to keep it safe and off the streets). Now I've been in a situation where I need a daily driver to get to work, so I purchased an '07 CR-V to get me around the city.

Now my predicament is that I have this M3 that I just don't really drive much anymore. I pay to store, insure, and maintain it, but I'm not sure if it makes sense anymore in the long-term. I'd look to buy a house within the next couple of years, but if I keep the car, I need to find a house with a garage, which is slightly difficult to find in the city I'm in and will likely cost an additional $50 - $100k in terms of home cost for an attached garage.

I love the car but I can't seem to make much sense at paying upwards of $2500 every year to keep it. I bought it in early 2020 for $19k but with today's market, I have it valued at $30k with my classic car policy.

What would you do, have you been in a similar situation? Does it make sense to keep this car for 5-10 years?

PFA: https://i.redd.it/9np2w7dtnn271.jpg

[Estoril]

I'd sell it.

[Slicktop]

Blue always does well and people love Topaz. I think if you are indecisive about keeping it and really just listed a lot of "cons" of owning it, then just sell. 30k seems a bit strong but that really all depends on condition, maintenance and rarity(hard to tell from one pic). Best of luck!

[cobra]

You have 2 options:
1. Sell the CRV and drive your M3. Enjoy it!
2. Sell the M3 so another guy can enjoy it.

[lvm3sm46]

I say keep it. You paid $19k and let's add 3 years of storage at $2500 is $26k. Too many variables at this time to say how much you could get for it but I would say around that 26 or more number. Prices are going up. Maybe wait one more year and then decide as it seems you are not sure right now.

[EthanolTurbo]

Don't sell it. In 12-24 months you are gonna be kicking yourself for not getting a garage and keeping one of the greatest cars of all time.

[Obioban]

I'd say keep it and sell the CRV. DD the M3.

[Icecream]

I'd say keep it and sell the CRV. DD the M3.

Yes. The crv will be worthless in a couple years still cost money to run, you'll lose more going that route.

[Syfon]

Keep the M3. While you might get good $$ for it, you'll kick yourself in a few years for selling it and no longer owning & being able to enjoy one of the quintessential N/A driver's cars ever manufactured.

At the end of the day, if you can afford to continue storing/maintaining/insuring the M3, why sell?

[Jimbo's M]

DD the M3.

I can't imagine not having my M, nor want to. I took delivery twenty years ago next month and it STILL tickles the crap outta me every time I drive it. I never thought I'd own such a fun and equally beautiful car to drive. Long live the E46 M!

[jet_dogg]

If you never plan on purchasing another m3 in your lifetime then sell.

Otherwise-

1. Buy house with garage
2. Make more money
3. ???????
4. Profit

[K-Dawg]

Get all the issues and maintenance taken care of on the M3 while you have the CR-V, then sell the CR-V, then drive the M3 into the ground. Life is too short to (daily) drive boring cars.

[Flat-Six]

Sell crv and keep M3. I daily’d a 930 for 15 years and never looked back. I’ve never let the value or collectibility of a car dictate how I drive or use it, I drive what I enjoy.

[TexaZ3]

4 options:

1. Sell M3
2. Sell CRV - daily M3
3. Sell both, use Uber.
4. Make more money.

[lapoune]

I'd sell it. Can always buy another one later when you have the means, plenty of these cars around. If you DD with winter salts it'll turn into a rusty battered pile of shit in no time anyway.