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.
Be responsible, but never grow up.
That gold one looks ACE.
This is why I ended up with a Mazda 3 turbo and not a 190E and probably a Miata when they totaled my Civic: no space for a second car and I certainly don’t drive enough right now (60 miles a week total for work, with a 2300 mile trip for holidays) to justify two. I very likely have a cross-country move and definitely have a wedding coming up in the next couple years, so it makes even less sense from that perspective.
The responsible thing is to sell, as much as it sucks. Neither my dad or I wanted to part with his dad’s ’88 K2500 (which was my first vehicle) but we no longer had the space or the time to keep it running. We’ll both be kicking ourselves forever, but it was still the smart thing to do.
Selling makes sense, but yeah with used car prices tumbling it’s probably not going to sell for as much as you’d like sadly.
Right now I own 4 cars with room for only 3. Two of the cars have specific functions. An SUV and a old classic car. The other 2 are BMW 5 Series. A manual E39 and an absolutely mint G30 with 20k miles I just purchased for relatively cheap.
Everybody is telling me to sell the E39 but I just can’t. I honestly don’t have time to use all 4 cars as much as I would like to. We have annual inspections (like TUV or MOT) and it’s really annoying to prepare 4 cars each year to pass.
I envy people who don’t develop such attachment to cars like I do.
Drop the price to market value and sell it. There is no reason to have two of them and the value is going to keep dropping.
I think this is the right decision, although I might look into an auction or something before dealing with garbage Marketplace buyers. It’s semi-famous! Surely someone would want to pick it up. Alternately, is there a BMW forum or BMWCCA mart to list it on? Could find more interested buyers who actually have more than a dirtbike and a ball of lint to trade on those.
I get the reluctance, though. Cars that you like are friends. You don’t want to just let a friend go to anyone.
Good luck with the sale. Proud of you, man.
Now go buy a rustbucket Neue Klasse like someone just scored on BaT. Haha.
<3
BTW, BMW i3 10-year retrospective was just posted on Munro YT channel.
What? Having more cars than you need is a bad idea, especially with limited space to store them?
PLUS getting cars to drive for free while critiquing them all the time?
Yes, it has been a wonderful story that you’ve mined. Time to move on.
so, um, what trade-in value did Galpin offer you for it? 😛
Just get rid of it. There is zero reason to own two of these things no matter how nice they are. 11,000 in your pocket could go to so many cool things.
If you still lived in Michigan, you’d never consider selling any of them.
Living in Orange County, it took me a while to get over this feeling.
I mean if you don’t pay insurance/register it, and store it away as a spare sealed up in a storage unit, who’s to know? Then if something does happen and you need it, bust it out and all good.
I think selling it is the right move. Facebook marketplace is a cesspool and it may take forever though.
What most stood out to me is you have “13-ish” cars. This means possession/ownership of some is up to interpretation. I wonder if that is only because of your brother’s Mustang and whether that one counts or not.
The problem with multiple cars is they need to be driven. Leave it parked for six months and your playing catch-up on maintenance and drivability. Factor in expenses, DMV, insurance etc. and it starts to resemble work..a true deal breaker.
“a true deal breaker”
This is true. I even have that problem with my fleet of bicycles.
At least Galpin provides plenty of parking for David’s fleet. At least I hope that’s the case.
Ugh, yeah. I’ve got this problem with my fleet of just three. I let the 944 sit too long, and I’m paying the price in gummed-up fueling issues. 🙁
I’m going thru this dilemma right now. Added a Chevy Bolt to the fleet and now my 03 2wd V6 F150 and 98 Landcruiser seem like they barely get used. Both are super reliable but the bolt is just so easy to grab and go with and it’s a blast to drive around town. Thinking of selling both and just getting one to replace them. Closest I can come up with is a Tacoma TRD Quad Cab and I’m just not sure I’m ready to give up the off-road chops and the comfort and reliability of the LC or the usefulness of the full bed F150. First world problems.
I have two station wagons because a more desirable one unexpectedly became available, so I bought it. The new one is a much better car, but I really hate to sell the older one. On top of that, both of my German car mechanics jumped in at the same time when I mentioned I might be selling it. Another sign not to sell it.
But, I just cannot justify having two of the same type of car, and it will put some money in the bank. But the biggest reason is that having one less car will simplify my life. That is the adult logic that decided this for me.
Good luck!
I have the same problem with guitars. Thankfully! Because they don’t need insurance or gas, are easy to store, and the upkeep is minimal. Like you I also have projects – currently a ukulele kit, a bass guitar body to regular guitar conversion, a cigar box guitar, and at least one more I am forgetting about, which shows what a problem it is. Job, wife and kids, and my house all come first because that’s how adulting works, much to my chagrin.
You bought it for $10500 17 months ago and want $11k for it… From the way you explained it, that battery warranty any owner could’ve gotten in CA. So why can’t someone buy an $8.5k-ish i3 and get that battery warrantied themselves and have some fresh new batteries instead.
Or, on the obverse, he’s done the legwork to get a fresh battery.
If they weren’t savvy on CA laws, wouldn’t that be a $2500 better situation than buying one without and then unwittingly pay to replace it yourself?
Legwork being taking the car to BMW and then picking it up a few weeks later. Yes that warrants $2500.
If the hope is to find an uneducated buyer, writing and publishing that whole warranty process doesn’t seem to help :p
Part of that legwork was pointing out the law to the BMW dealer and making them honor it. The legwork he already did made more people aware of, thereby making it even more difficult to find one in the condition to get the free new battery.
Because the hypothetical someone does not live in CA?
Because you’ll be hard-pressed to find a BMW i3 with a <70% battery. That’s just reality. Mine lived in a hot part of the country and was driven daily — 140,000 miles over just 9 years. That’s 15,500 miles a year, more than average, in a car that only goes 70 miles per charge.
This means it was running on the range extender all the time, and the battery was at essentially 0% SOC, and it probably also spent plenty of time of a fast charger.
If you try to do what I did, you may fail, and then you end up with an i3 that has 75% battery capacity, and in a few years, even less.
If you follow the i3 Facebook group, you should be seeing the challenges some people are having with their A/C systems. It cools both you and the big battery, and when it goes, it usually fails catastrophically, basically totaling a vehicle the age of the one you’re trying to sell. It’s also something you should investigate (adding a filter) to avoid it happening on your better, keeper one.
David, you’re a good man, and you’ve been instrumental in building this site, which both brings joy to a great many people and which I genuinely think makes the world a better place. Several people have both jobs and good livelihoods at least in part because of you, and everything I’ve ever seen or heard about you indicates you’re a genuinely good dude. You are worthy of nice things, and nobody is going to think ill of you for driving a nice car.
Plus that i3s fits you to an absolute T: a very specific limited edition model of a weird limited-run car that most people forget exists for which all of the engineering decisions – all of which you can describe – were made to match your exact use case for a car that fits your philosophy of what a car that does what you use the car for should be. It’s absolutely a You car – it’s not like you just picked a random merc or something. It’s a beautiful expression of David Tracy in 2024.
Sell the old i3 for $10k. You drove it for a year, found you loved it, upgraded to your perfect car. That’s worth $500. Take the money, get it out of your driveway, and never look back.
(On a practical note: I’ve had far, far, _far_ better luck selling on Craigslist than FB Market, and that’s echoed by everyone I’ve ever known or heard from. Actual humans use Craigslist, many of them located in the same geographic region as you.)
I’ll co-sign the CL vs FBM statement.
Im hunting for a new daily runabout, and planned on 5k tops. But with the irs rebates, could go ev up a bit more. Sadly, i am on the wrong coast- roadtrip it to detroit for that cost? Good luck DT!
You’re kind of in a weird situation, regardless of what kind if car you’re selling. It’s not about the car.
It’s about the buyer.
It’s a 10 year old car with over 100k on it, and you want over $10k for it.
The problem is there are very few banks that will finance a car that old with that many miles for anything close to a reasonable rate. So now you’ve gotta find somebody who wants that (unusual) car AND has ten grand on hand, in cash.
If you were a used car dealer, different story. But you’re not.
Good luck with that!
Have you considered raffling it to the readers?
I can relate to this. I remember during the broke years having to sell my 3-owner ’67 Cadillac Sedan deVille with 52,000 miles on the odo to pay off the wife’s dental debt. I had several friends all say they REALLY wanted that car if I ever sold it, including one who used it for his wedding.
I then got to hear several unique excuses when I did decide to sell it. And getting a little desperate, I was willing to let it go cheap as long as it went to someone I knew. Kind of glad I didn’t have any takers though as I did sell it to a guy in my office building a month later for a couple thousand more just in time to avoid some pretty absurd interest payments.
I think that lands in the “almost everyone” category. I’ve found keeping and updating a net-worth statement helps a lot. If your net worth is really low, it’s a good motivation for doing things to bump it up. Otherwise, if you have any type of savings and/or retirement accounts, other assets (vehicles, spare-parts collection, artisanal rust, etc), it can be surprising how much they all add up to, and that can be nice to review when that “I’m so poor” feeling starts to creep in. Just try not to over-value anything (cough cough that $11K on a 145,000 mile i3 may need an adjustment if it’s not getting any takers).
Yeah. I’ve learned friends and family almost never want your used stuff, unless it’s something practical, AND a stupid deal/free.
I think there is inherent desire not to take on the cast off items of those around you. You may like/admire the item, but you can’t help associatjng the item with your friend’s personality or lifestyle, and there is some ‘ick’ to overcome. If money is going to be involved, might as well avoid the baggage and buy your own.
Your friends probably did love your Cadillac, they just ‘loved it for you’ or whatever the kids say.
We actually had friends take our problematic Forester, but only because we gave it away. They tried to pay us a bit afterwards, but we refused because we didn’t want the stupid thing to die on them and ruin the friendship.
I’ve learned friends and family almost never want your used stuff, unless it’s something practical, OR a stupid deal/free.
FIFY
A good friend gave me his high end racing bicycle that retailed for like $7.5k a decade ago and still trades for $1k today. I don’t fit on it well and it’s the functional opposite of my preferred touring and mountain bikes but whatever, no board certified cheap bastard can pass up the siren call of “free”.
He’ll yeah, I’m never going to say no to free bicycles.
I once got bitten for trying to facilitate a deal between two of my friends for an older Marazochi suspension fork that turned out to be a dud. No problem, until the seller went all ‘no take backs’. Never again.
“Free” is a hell of a drug…
(cough cough that $11K on a 145,000 mile i3 may need an adjustment if it’s not getting any takers).
I think the standard formula is to start at the “giggle price”, the price that makes potential buyers laugh at its absurdity and drop it incrementally from there till someone bites.
Or just insure the crap out of it and leave it unlocked in a “bad neighborhood” with a full can of gasoline and a rag and/or the keys inside…
I also tend to use a “giggle” price, but it’s more of a “I can’t believe what a deal this is… takemymoneynow hee hee!”
Most of the time when I make the decision to sell something, it’s not around for very long. For instance, if it were me, and I was DT with this i3 (whee!), I’d detail the hell out of it, maybe tack on a few hundred extra to the going rate because of the new battery and send it. After all, that new battery was a freebie and the sooner it’s gone, the sooner the insurance can be canceled and the plates turned back in (idk how it works in California, but one can get a partial refund of their license fees in Iowa for doing this). Not to mention that moving on has a value all its own.
Here in CA the plates go with the car.
People (in general) are full of shit and/or too broke to follow through. A guy who worked at the Lexus dealership always told my MIL to call him if she wanted to sell her sedan that had grandma miles on it. When it came to sell the car, she called him and he hemmed and hawed until finally admit he was too broke to buy the car.
Oh they’ll buy it. If by “buy” you mean “take it off your hands for free”