I Won Nashville Opera Auction!!! Now What???
 

I do not mean to sound pitiful, but I have a serious dilema. I won a BMW Z4 Convertible last night! I have not slept yet and I cannot stop shaking. Sounds great, huh? But there is a problem.

The problem is to pay the income tax and sales tax, I will need to sell the boxster... or sell the new z4 and have the opportunity to come out with a little $. The box is paid for and I am totally in love with it. I mean during the day yesterday (before I got the news) I was in my garage 3-4 times just staring at it. It has been a dream car of mine for years and I just had the financial chance to buy one 2 months ago. The box is a 2000 2.7 with 40k miles. The z4 is brand new 2007 3.0 roadster. To keep the box and sell the z4, I make around 15-20k after all taxes. To upgrade, I sell the box and have a new z4 but owe nothing after using the box for cash. My problem is that I hate the z4. I test drove it, it is fast, but feels junky. It has a lot of thin plastic, the trim pieces feel loose, the gaps in interior pieces are uneven, the leather is fake, and it is not my boxster. It feels like a girl's fun in the sun car.

The dealership locally had a 2005 z4 with 4k miles for 25000. That is a 20k hit in 2 years. OUCH. That means in 4 years, it is roughly the same value as my boxster... which in my opinion will be a timeless car. A beauty all the way from flash to antique. What would you do!?!?!?

I hate to loose the boxster, but I love to be under warranty.

p.s. I just added litronics, new tails, new sidemarkers, new wheels and tires, new sill protectors, guage trim rings!

Congratulations! Sell the Z-4, no question.

congrats :) Sell the z4

Sell both! Then buy the car you want. Maybe a new boxster s...

Congratulations....tough problem to have!
Sell them both and get yourself into a newer Box with a warranty if that's what makes you sleep easier at night...ha ha

Well I see Boggtown you beat me to my comment....

Congrats, sometimes raffle winners can ask for cash instead of the car....

You could take out a new car loan on the BMW to cover the taxes.

+1
You obviously have no desire to keep the Z4 so it's simply a matter of selling and pocketing some cash or sell both and get an even better Box.

Max,

If I were you, I'd sell the Z4 and use the net proceeds to buy every mod you've ever thought about having for your Boxster and maybe set aside a couple thousand for future repairs (then you'd basically have your warranty). That way, you will really have your dream car.

Congrats on winning the Z4. I won a Buick Rendezvous 4 years ago by hitting a lucky hole in one and it worked great for my family since I have a couple of little ones. I kept it and its now one of the reasons that I now have a Boxster as I gave the Rendezvous to my wife and then got to get me what I wanted.

Thanks for the EVO intake, I received it today as well. Take care,

Mike

sell z4...

and then...

...engine swaaaap....


-David

I totally agree with the others--sell both and buy something else. :)

same here...i figure if I sell both of them, I would pocket about $35-40k, turn it around and buy a 03 to 05' Boxster S with all the options that I could have and plus warranty :D

Lucky you!

It's clear that you don't want the Z4,I don't blame you. Sell the Z4,take the extra cash put $10k in the bank if you net $15 and put $15 in if you net $20k. Spend some $ on buying the RoW kit for your Boxster,get the 45k tune-up done ahead of time and go on vacation with family or significant other. :cheers:

Congrats!, I would sell the Z4. Bank the cash until your ready to upgrade to newer boxster

I'd sell/trade the Z4, put a new 07/08 Box S on order and then sell the 00' box before the new one comes in.

or trade for a CPO Box S. :cheers: :dance:

Sell both, buy later-generation Boxster-S and have fun, no question,


Ed

:cheers:

First sell what you hate -- the Z4. Then look at the cash as just that ($).
Since your box is still new to you, enjoy the experience and see if that is actually enough car for your needs. If so, invest the Z4 cash and continue with your life as if you hadn't won anything. If few years later you feel like upgrading, use the cash for that purpose, or use it for anything that may come up in the future. Having some $ powder dry (i.e. liquidity) is often underrated. It's a cheap option that allows you to shoot whenever and opportunity arrives in the future, and protects you from unforseen trouble down the road (including Box repair) -- hence it has value.
Z.

Hahaha, I knew this was the right place to go for advice. I am glad noone has commented "keep the z4" That is the response I am getting from friends and famiy (except my father who has owned 2 911s and a boxster). BMW convertible seems to have more flash factor and being married for 3 weeks now, I do not need flash factor.

Selling both or trading both for a newer boxster or boxster s is a good option.

Let me make this more difficult. I bought the wife a new toyota solara convertible last year- it is a wonderful car. By no means sporty, but it does the job. It is cheap to maintain and has a back seat. However, She has been talking about wanting an SUV. What do you all think about trading that and the z4 in for a cayenne or x3 or any other smaller SUV?

To take cash, they would only offer 10,000 dollars pre-tax. That is not an option.

I like the way you think blink. My math might be wrong on the net profit- based on the ability to sell the car and the amount of "gift" tax the IRS wants from me.

I could use a beach trip- we just got back 3 weeks ago from our honeymoon, but it seems like a year ago already.

Why were you at an Opera? I think this is the bigger problem! (j/k). :)

I recommend selling the BMW and using the proceeds to pay down any high-interest debt. If you don't have any debt, set the money aside for a "future college education fund" when the kids start coming!

Congrats on the winning...and Bride.

Hahaha, I was not at the opera. I was reading through the porsche excellence magazine on the airplane on the way back from the virgin islands and saw a porsche raffle. When I got home, I tried to find it on the net and found this other one also, so I bought one ticket to each raffle online. They called me after the opera or play from the cast party and told me I won!

I know investing, saving, or burying the money is the right thing to do, but when it's free it seems like I need immediate gratification.

Max