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Thread: I want your opinion on road legal race car project. Yes you

  1. #21
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    I have had a 914 project car for 20 years now. Accumulated a bunch of parts over the years with the intent of building a track car. Wanted a 2000 lb car with 400 hp from a NA flat six. Imagined how great it would be. But now at 50 years old with two kids under 5 it was time to realize I’m not going to finish it. So I sold all the parts and then sold the chassis to a guys in the US. Hate to see it go as it will be really cool when it’s finished but I will be better off buying a stock or slightly modified car in the future. At some point you have to be honest with yourself and critically evaluate the odds of finishing it.

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    More detail about the car:

    2009 BMW 135i
    60,000km
    Black Sapphire Metallic with coral red leather
    35%tint all around
    Escort passport 9500ix with BlendMount
    VIS Carbon fiber hood style XTS
    Carbon fiber rear diffuser
    BMW Blackline euro taillights
    *Weisslicht LED smoked side lens
    *BMW performance side skirts
    *Colour match kidney grills
    Cobb accesport with custom dyno tune
    *BMS clutch delay valve
    BMW performance SSK (with original boot)
    *BMW performance shift knot
    Evolution Racewerks Competition Series Front Mount Intercooler
    AR design catless downpipes
    *BMS dual cone intake
    Evolution Racers black charge pipe with black TIAL Q BOV
    Rogue Engineering axle back exhaust
    *Rogue Engineering transition mounts
    Dinan fixed camber plates
    TC Kline Racing Single Adjustable Coilover Kit with Rear Ride Height Adjusters
    1M/M3 Front Control/Tension Arm Kit
    1M/M3 Front Lower Wishbone Kit
    1M/M3 Rear Subframe bushings
    1M/M3 Rear Guide Rod Kit
    1M/M3 Rear Upper Link Kit
    1M/M3 Rear Lower Camber Link Conversion Kit
    Stagered 18" Work M1R Mister rims 8.5f/9.5r with 245f/255r Michelin PSS

    Not installed:
    BR bolt in half cage colour matched red with harness bar and X brace
    Used RB rotors with caliper adaptor

    That's all I remember. Also, as a sour point. When I was having all the suspension work done, I discovered @Redlyne_mr2 was selling his 1M. I would rather have bought it

    **I can't find the charger for the computer I have a list of everything with the costs**
    Last edited by arcticcat522; 07-17-2020 at 10:12 PM. Reason: *Added some things I forgot

  3. #23
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    Taking a bath on this is right. That is a massive list of aftermarket parts you have on it. Sounds like quite a gem as a result though!

    My suggestion: It costs nothing to try to find the unicorn buyer for a while.

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    Actual "Racing Car" or track days?

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    Quote Originally Posted by ThePenIsMightier View Post
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    Actual "Racing Car" or track days?
    Track days car is probably a better term. I'm sure after some time It would slowly be more and more full race car. But a lot can change between now and then. I never intended to even consider selling it after kids, but look where we are now....

  6. #26
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    Quote Originally Posted by arcticcat522 View Post
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    That's all I remember. Also, as a sour point. When I was having all the suspension work done, I discovered @Redlyne_mr2 was selling his 1M. I would rather have bought it
    That is a sour point indeed. The discussion would be entirely different if it was a 1M.

  7. #27
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    Quote Originally Posted by cjblair View Post
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    That is a sour point indeed. The discussion would be entirely different if it was a 1M.
    Oh ya. Wouldn't be a conversation

  8. #28
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    Hmm.. hard to say what will happen in 15-20 years.

    Question is if you are ok if it gets sold for ~$30k if you try to sell today. I can't see it going more than that.

  9. #29
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    Also if you’re still saddled with the stock open diff in the car that sucks. That’s was my largest single complaint with my 135i. It wasn’t an overly cheap car to run for auto x but I never had it on the road course either. If you have the ability a single seat car is the way to go down the road.

  10. #30
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    That mod list doesn’t look that extreme, I thought it was going to be unlivable for a daily driver.

    Given that you have two small kids and your car is a 2 seater, and that there are no longer any tracks nearby that are convenient to go to, and that it’s a PITA to deal with winter storage and constantly switching insurance coverage, I’d personally just get rid of it.

    If you’re holding the car because you think it will go up in value, a stock example would probably be worth more. Not sure if you have an option to put it back to stock and sell the aftermarket stuff? If you can put it back to stock yourself and then sell the parts, that would be the ideal solution from a money perspective (if you have the time). Paying a shop to uninstall the parts probably won’t be worth it.

    I’m not sure how much of a market there is for aftermarket performance parts for this vehicle, but the longer you wait the fewer buyers you might have for those parts.

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    Quote Originally Posted by richardchan2002 View Post
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    That mod list doesn’t look that extreme, I thought it was going to be unlivable for a daily driver.

    Given that you have two small kids and your car is a 2 seater, and that there are no longer any tracks nearby that are convenient to go to, and that it’s a PITA to deal with winter storage and constantly switching insurance coverage, I’d personally just get rid of it.

    If you’re holding the car because you think it will go up in value, a stock example would probably be worth more. Not sure if you have an option to put it back to stock and sell the aftermarket stuff? If you can put it back to stock yourself and then sell the parts, that would be the ideal solution from a money perspective (if you have the time). Paying a shop to uninstall the parts probably won’t be worth it.

    I’m not sure how much of a market there is for aftermarket performance parts for this vehicle, but the longer you wait the fewer buyers you might have for those parts.
    Pretty valid points all around. You’ll likely come out further ahead returning it as close to stock as possible and selling parts. I might have to consider this when I sell my C5Z.

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    Quote Originally Posted by richardchan2002 View Post
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    That mod list doesn’t look that extreme, I thought it was going to be unlivable for a daily driver.

    Given that you have two small kids and your car is a 2 seater, and that there are no longer any tracks nearby that are convenient to go to, and that it’s a PITA to deal with winter storage and constantly switching insurance coverage, I’d personally just get rid of it.

    If you’re holding the car because you think it will go up in value, a stock example would probably be worth more. Not sure if you have an option to put it back to stock and sell the aftermarket stuff? If you can put it back to stock yourself and then sell the parts, that would be the ideal solution from a money perspective (if you have the time). Paying a shop to uninstall the parts probably won’t be worth it.

    I’m not sure how much of a market there is for aftermarket performance parts for this vehicle, but the longer you wait the fewer buyers you might have for those parts.
    It's very close to a perfect car for my 20yr old self. Agree the mod list isnt over the top, but it's hella fun. N54 has gobs of torque and suspension is ± M3. Getting the car to stock isn't really an option. I've been to a few autocross practise days and up to the road course only once. If I end up keeping it, stoptech big brake kit, MFactory diff, Mishimoto Radiator...ughhhh
    Last edited by arcticcat522; 07-17-2020 at 10:33 AM.

  13. #33
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    Keeping this car as an investment shouldn't even be a point of contention. It's not special enough, and the opportunity cost of having that 20-30k not just sitting in the stock market for that long is too large to ignore. i.e. if you want to invest 20-30k, don't use this car as your investment vehicle (haaaa), just throw it in an index etf and sell it in 20 years to buy something way nicer.

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    Quote Originally Posted by cjblair View Post
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    Keeping this car as an investment shouldn't even be a point of contention. It's not special enough, and the opportunity cost of having that 20-30k not just sitting in the stock market for that long is too large to ignore. i.e. if you want to invest 20-30k, don't use this car as your investment vehicle (haaaa), just throw it in an index etf and sell it in 20 years to buy something way nicer.
    If you already have seven-figures in liquidity and are looking for an alternative investment, a car may make sense I guess assuming you have somehow exhausted all your other options (which I don't think would be the case, even with high seven-figures of liquidity).

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    Quote Originally Posted by cjblair View Post
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    Keeping this car as an investment shouldn't even be a point of contention. It's not special enough, and the opportunity cost of having that 20-30k not just sitting in the stock market for that long is too large to ignore. i.e. if you want to invest 20-30k, don't use this car as your investment vehicle (haaaa), just throw it in an index etf and sell it in 20 years to buy something way nicer.
    I'm not thinking of this car as an investment. The main hangup is the money sunk into it (and I said I would never sell it). Think I'm going to list it for a unicorn buyer. Still not sure if one does come along, that I could give up the keys.

    As another discussion, having a car sit in storage for 5-10yrs has its own issues. Best way to minimise things like seals drying out?
    Last edited by arcticcat522; 07-17-2020 at 12:11 PM.

  16. #36
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    Quote Originally Posted by arcticcat522 View Post
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    I'm not thinking of this car as an investment. The main hangup is the money sunk into it (and I said I would never sell it). Think I'm going to list it for a unicorn buyer. Still not sure if one does come along, that I could give up the keys.

    As another discussion, having a car sit in storage for 5-10yrs has its own issues. Best way to minimise things like seals drying out?
    If you aren’t using it often sell it. No point leaving a car sitting for years on end...lose a ton on depreciation and cars are meant to be driven so if you leave it sitting another few years you’ll likely be paying a couple thousand in BMW maintenance just to get the thing in good working condition. Sell it, throw the $ into the market.

    That being said, if you are looking to get much more then what the market value of the car is stock it will Be very hard to find a buyer for this, especially during COVID times. The parts added are nice to certain buyers but are really nothing special and aren’t worth much $$ once you take depreciation into account (nobody cares what labor cost you paid to install parts, so it’s not really “$20k in parts”).

    Looks like the high-end asking for this car in Canada is $19k. Yours is low Mileage so if you think the parts justify a higher price list is some thousands over that and see if someone bites.

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    Sorry if this was mentioned already, but what kind of cash are you realistically wanting to get out of it? All-in and stripped stock.

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    Quote Originally Posted by 90_Shelby View Post
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    Part it out and move on.
    This, did it when I went to university, lost tens of thousands, was still a better life choice.
    sig deleted by moderator, because they are useless

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    Quote Originally Posted by finboy View Post
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    This, did it when I went to university, lost tens of thousands, was still a better life choice.
    We just parted out my brothers old Daytona after failing to sell everything in one lot for even $2500, the car had been sitting in pieces for close to 15 years. Somehow we managed to sell everything for ~$7700 and I still have the 16V Hybrid long block, header, intake manifold, turbo and wastegate. It’s unassembled and needs some block machining but i’ll eventually assemble it and sell it off as well. That engine made ~480hp to the wheels back in 2005.
    I like neat cars.

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    Quote Originally Posted by Type_S1 View Post
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    If you aren’t using it often sell it. No point leaving a car sitting for years on end...lose a ton on depreciation and cars are meant to be driven so if you leave it sitting another few years you’ll likely be paying a couple thousand in BMW maintenance just to get the thing in good working condition. Sell it, throw the $ into the market.

    That being said, if you are looking to get much more then what the market value of the car is stock it will Be very hard to find a buyer for this, especially during COVID times. The parts added are nice to certain buyers but are really nothing special and aren’t worth much $$ once you take depreciation into account (nobody cares what labor cost you paid to install parts, so it’s not really “$20k in parts”).

    Looks like the high-end asking for this car in Canada is $19k. Yours is low Mileage so if you think the parts justify a higher price list is some thousands over that and see if someone bites.
    Cost of parts is closer to 20k than you may think. Before install. Not including depreciation, which I know is huge. I think I'll put together an ad and see if anyone is interested for unicorn money. Now I have to figure out what that is. Initial thought is 25-30. But I need to do some serious thinking on the number.

    - - - Updated - - -

    Quote Originally Posted by beyond_ban View Post
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    Sorry if this was mentioned already, but what kind of cash are you realistically wanting to get out of it? All-in and stripped stock.
    Not sure on a price yet. Need to do some soul searching to come up with a price. Stripped stock/part out isn't an option. Any input on value from an outsider?

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