I really would rather not sell my 2014 BMW i3 with a new high-voltage battery, but keeping it just doesn’t make financial sense. It’s been such a great car over the last 17 months, and it feels weird to sell a car that is, essentially, perfect. But I bought a BMW i3S that is even perfect-er, and it’s hard to justify having $11,000 tied up in a depreciating asset that I don’t even use.
There’s not a whole lot to this article, so if you were expecting enlightenment, I’m sorry to disappoint. No, this article is just me lamenting having to make grown up decisions.
I’ve lived in LA over a year and a half now. I’m now living with my partner, and the future seems bright and fun. But also expensive. I’m also not at all rich, especially not compared to pretty much anyone out here (does everyone feel that way, or is it just me?), and as such, I felt pretty bad for buying that $30,000 Galvanic Gold BMW i3S. That’s a lot of money, and who knows, I or someone I love might need that.
I justified it because it’s not just that cars tie up money, it’s that they tie up time. I have to sell some of my 13-ish cars not just to make some scratch, but to improve how much time I have to devote to my partner/this business. So I figured: If I have to get rid of lots of my cars, can my daily driver at least be something badass? Hence the $30K i3S “Holy Grail.” It’s a truly incredible machine.
But so is the 2014. It’s been perfect since I bought it for $10,5000 and got its battery replaced. I’ve had zero complaints. I have wished for improved range, since it’s easier to just plug in at home than having to stop by a gas station, plus the tires are pretty absurdly expensive, but it’s basically a perfect car. It’s for this reason that I’m having a hard time letting go.
But that’s $11,000 of cold, hard cash. And if we’re being honest, i3 values could continue to plummet as more EVs become available. The truth is, the palatability of a 75-mile-range-EV with a two-gallon-tank for a range extender is limited. I mean, these things didn’t exactly fly off the shelves, and their values are not increasing (they’ve dropped 15% year-over-year). My car has a new battery, but also 145,000 miles on everything else, and a 145,000 mile i3 is worth about…$8500-ish. I figure the decent battery adds at least $2500.
Anyway, a lot of my friends have said they want to buy my i3 — my college friend, Jason, an industry colleague. But when it came down to crunch time, none have committed.
Anyone want a gorgeous 2014 BMW i3 range extender with a new high-voltage battery? Because I’m selling mine for a great deal:https://t.co/r3S6b9gZVA
— David Tracy (@davidntracy) July 23, 2024
In fact, my Facebook listing, below, has only received one truly interested buyer.
It’s a shame, because that new battery makes this i3 feel like a new car, but I guess there are 144,500 miles on all the other components — the suspension, the AC compressor, all the steering bits, the motor, etc. Maybe nobody will buy it at $11 grand and then I can just keep it?
Yes, I love that i3, and part of me wants to keep it as my daily driver so I can preserver my probably-1-of-1 Galganic Gold 2021 model. This thing:
It gets about 135 miles of range versus about 80 on the gray i3. Plus, I mean, just look at it. It looks like a million bucks. The old i3 does look a little friendlier, I think, as it doesn’t have all that blacked out trim:
And I prefer the old i3’s brighter, friendlier interior:
Which version of the BMW i3’s famous “Giga World” interior are you most fond of?
(Notice the slight change in leather color, change in armrest color, and change in fabric pattern). pic.twitter.com/tUkNakP9Pm
— David Tracy (@davidntracy) June 4, 2024
But that gold machine — it’s something special. Sometimes I worry it’s too nice to daily drive, but that’s an absurd thought that I should discard. I only drive my i3 about 7,000 miles a year; it’s made of carbon fiber, aluminum, and plastic so it won’t corrode; and I have a garage to store it in each night —it’ll probably be fine. Plus, its tires are ridiculously cheap and it has a 12-year, 130,000 mile warranty on pretty much every single powertrain component, so I should drive it.
The financially responsible person in me knows it’s one or the other. I’ve already been a bit rash buying that gold one for so much; I can’t be irresponsible and keep both. It’s not just the $11,000. it’s the insurance; it’s the annual registration fees; and it’s the time needed to make sure it’s parked somewhere safe and where it’s not bothering anyone, replace its tires when needed, fix the occasional issue, etc.
It’s gotta go. I don’t want to, and part of me is moderately concerned that if I sell it I’ll just relapse and buy another, but I gotta get over that. It’s time to grow up and be responsible.
“it’s hard to justify having $11,000 tied up in a depreciating asset that I don’t even use”
because instead you could tie $11,000 up in 11 $1,000 depreciating assets that you don’t even use?
Please go back to your obsession with rusty Jeeps and make everyone’s lives more pleasant again.
I’ll buy it. The new battery is the whole effi g deal. Call me. 4147045563. Also missed Mercedes at the EAA but my gods how that festival has grown in the last 10 years since I was there.
OK, let’s talk. email me at david@TheAutopian.com
A hard lesson of life I had to learn was that one couldn’t love their daily driver too much.
Like it? Certainly. Love it? Not as much. Or at least accept that love has to come to an end some day.
Time and use will destroy it. Driving it will expose it to all sorts of hazards and wear. Less so now that you’re in benign-weather California, but as a continuing resident of the salt belt, I see the ravages more plainly.
It seems you have a solid daily driver in your new i3. Enjoy it for what it is with the acceptance that wear and tear will happen. To keep the inner adult happy (I like to think of my cheapskate tendencies as ‘value-wise’ as a more positive context), use it to the point where you squeeze most of the value out of it before the costs rise too much, which could be a decade or longer.
Your older i3 still has all the wear of 145,000 miles of use, battery aside. It will likely require a fair bit of investment in wear items in the near future. Best to get out of it before that happens, especially if you aren’t driving it much.
Shower love on your special cars that aren’t subject to the grinding use of daily drivers. Sometimes in life, that means you have to save it for one or two of them at a time, especially with the responsibilities of adulthood. Lame-sounding, I know. Adulthood often is.
I suspect you’ll retain more passion if you focus your energy on fewer things that have more meaning.
This is pretty much exactly the reason I haven’t bought a GR Corolla. For the price it’d have to be my daily, and live through the horrors of Canadian winters with all the salt and calcium chloride it brings. I did daily a Genesis Coupe for 8 years, but I paid 21k new for it. Not 50k.
Exactly. Imagine how many projects could be moved forward (or gasp! completed) with an extra $10k!
Cars in California don’t corrode
Regarding the fact that the newer i3 can use the cheaper tyres, why not swap the wheels between the two cars?
Keep the older car and benefit from the cheaper tyres. Sell the gold car for $30k
This!!! If you really wanted to be an adult, this makes the most sense of all.
After all David has given us, I think he deserves something nice and special to cruise around in. Keep the golden goose!
I’d guess 9-10k would be a better price. Basically halve your battery benefit – yeah, it’s a new battery, but it’s also a 80 mile range runaround. The size plus range really limits its use case.
Totally sympathize on the insurance front. I recently downsized from two vehicles to one. Insurance got adjusted, and guess what? Insurance cost actually went up. Double checked with my agent, who confirmed that the loss of multi car discount, plus rate increase in my area, accounted for the increase.
“does everyone feel that way, or is it just me?” Not just you. Me too. I make ok money, but still drive a paid off basic car from 2014. But everyday I see people around me with new trucks and SUVs. I live in the central valley so it’s not full with tech bros or rich people like there can be in LA. I don’t know how they do it.
The central valley is full of extreme wealth. Oil & gas and climate for growing the most profitable/valuable fruits/vegetables possible.
Leasing expensive stuff beyond their means?