Originally Posted by GreenFrog
Now this all said, I'm planning a job change within the next couple months to a city where I won't need a car. I may end up selling it if so and therefore I question whether I should invest several thousand on it at this point in time.
BUT I also love it so much that I may just keep it, too, and store it. It's hard to find a well-sorted coupe with manual and "low-ish" miles and not pay more than $20k.
How long would you store it and where? Cars can be stored for a modest period of time, but after a few years you will spending a lot of money having seals, gaskets, hoses, tires, timing belts (if it doesn't have chains), brake lines, and probably fuel lines replaced (if they are original). As mentioned previously, my buddy is into more than $6K putting a 1990 Porsche 944S2 back on the road that was sitting in his garage for almost 10 years (and storage cost him nothing). I expect he could be up around $8K soon. About 10 years ago, I spent almost $12K putting a car that sat in storage for 10 years on the road again.
If you store the car for 5 years, and if you can get very cheap monthly storage lets say $100 a month that is $6,000 (if you have to spend more per month which you may have to, that figure can go up fast). If you have a parent who can put it in a garage for free well that expense goes away. Then throw insurance on top of that (even if you take off collision, and just keep what you need for fire and theft...figure maybe $3,000 to cover a few years (I don't know what you currently pay for insurance on an 03 M3). Then parts and labor to put it back on the road (new tires, some hoses, gaskets, brake lines and fuel lines of they've never been replaced (as the car is an 03)...I'd bet with 5 years of storage+ insurance and service to make it road worthy again you spend around $12K-$15k.
Maybe the wise idea is sell it, invest the money, and when you are ready to buy another car. At that point you will have the funds from the car, plus what you didn't spend on storage and service to make it road worthy again, which could be enough to get something you'd really love that is newer with fewer miles. But then again car guys often think with their hearts and if you love it maybe you would rather keep it.
Edited by Dino944 - 8/12/16 at 10:56pm