So, I'm considering selling my M5. Before you tell me I'm completely insane, here's why:
1) It has 73,000 miles and is only going to get more expensive to maintain. I've spent an average of $2000 every 2-3 months since I bought it on maintenance. I'm a full time student and can afford to pay for the maintenance, but it's definitely money I'd rather put somewhere else, especially considering I can't predict when I'll need to spend it. I can get a much more reliable car with a warranty for the money I'd get from the sale.
2) Contrary to popular belief, I don't drive it very hard. I go nuts maybe once a week, but when the air is cold, the engine has so much power that it'll just spin my PS2s in 2nd gear, and 3rd gear breaks every legal speed limit. It's my DD and 95% of what it ends up doing is just driving me around.
3) I'm going to be making a great salary once I'm out of school and would probably be selling it in 2-3 years from now anyways. It would probably have 100k miles and be more difficult to move. If I get another car now, I can just buy a real quick 2 seater for fun and keep whatever I get as my DD.
4) It's resale value has only dropped by about 5-6k since I bought it. It still has high value and would net me a lot of cash that I can put towards a reliable car with a warranty.
5) It's just not that versatile. I drove SUVs most of my life and really miss them. I end up borrowing my friend's SUVs all the time for all sorts of activities.
So, am I completely insane or no? The only downside is that the M5 will hold its value much better than any of the other cars I would get. But according to my excel analysis, the increased depreciation is still less than I would pay in maintenance over the next 2 years.
Cliffs: I don't use the capabilities of the M5 as my DD and it's just too expensive to justify.