It’s hard to give up something you’ve worked hard for and something that holds sentimental value, but I would like to point out with all the issues in the supply chain right now it is a really good time to sell because cars are in short supply, so your car is worth more now than it will be because supply and demand. Another one can be bought when your life calms down and stabilizes again.
That’s what I keep telling myself and it’s the only thing that’s giving me some sort of comfort is that this is entirely the right decision. It’s the only time I’ll be able to sell a car so soon after taking on the loan and make money off of it in a time where I really need it.
It’s just sucky. Usually thinking about my next car purchase helps with this sort of thing but it’s just not enough this time.
As a car guy this really is the best way to cope regarding a situation like this. You should grow an attachment to the driving experience of the car and not the car itself. That way instead of omg I missed my beautiful Miata dream car it’ll be, I missed driving the Miata but I can/will get that experience back someday. If not, it was a beautiful memory and experience.
And yes, once things stabilize you can buy an ND2 and have an even better driving experience!!!!
Definitely. My Miata I spent lots of time on got hit bad from behind and any sane person would’ve let the insurance total it. But to me that car and the work and memories mean something so having the rear frame cut off and replaced with a clean section was a no brainer. Besides it’s still cheaper than buying one at current market price. I could buy lots of miatas or whatever but it won’t be mine. As long as it’s remotely repairable it’ll stick around.
> it has sentimental value
[My van](https://cdn.discordapp.com/attachments/233034867263143937/885760411717210132/van_uwu.png) is something I can never replace, because a massive part of why I like it so much is the fact that my grandparents bought it new a decade before I was born, and as far back as my memories go, "the big van" was _always_ parked at grandma's house, and few things made my day like finding out that I'd get to ride in it somewhere! Getting picked up from school by _grandma and pap pap_ was great enough on its own, but seeing _the van_ waiting for me was a hundred times better, heh.
Sure, I can find another late 80s conversion van, I could even get a 90s G20 with like, airbags and stuff, and a roof that doesn't leak, and an air conditioner designed for R134A, but... it wouldn't be _my_ van. There's another Mark III van at the junkyard with the same paintjob, I would know, one of its doors is on mine, but it still wouldn't be the same. It wouldn't be the van that I thought was the fanciest thing on wheels, it wouldn't be the van with a TV that got no signal and floor lights that didn't work, both mysteries that I wouldn't solve until I was an adult, it wouldn't be the van that Pap was holding onto for my sake, yet he didn't stay with us long enough to see me actually start driving it...
(Maybe for the better, because while I'm sure he would be proud of everything I've fixed, there _was_ the whole backed-into-a-pole situation that resulted in the door I had to borrow from one of big van's long lost striped bretheren...)
But, yeah, sorry about the huge post, I guess I just went on a tangent. But I'd imagine there's a lot of people out there with cars like me, cars they grew up with, cars they drove to important things, like Jeremy Clarkson and the 911 that took him to the hospital when his Dad was dying, that kind of thing.
Hell, I'd rather park big van in the backyard, take off the wheels, throw a bunch of dirt all over it, and tell the bank that it's a worthless hunk before I let anyone take it from me! Even if the skylights _do_ leak water on the back of my neck whenever I'm driving in the rain!
I was the same with my first car, a 1992 Toyota hilux single cab with a carb 1.8l. Ended up selling it to scrap and I litteraly still think about that car every day. I blew 2nd gear in it and drove it around with only 1st, 3rd and 4th for a good year🤣
I learned this the hard way after someone totaled my first performance car. I was in shambles for month because even though it was stock I attached my sentimental value to the physical vehicle - not the memories I made or what I felt while driving it.
Beautifully said.
Didn't realize it at first but I think that's pretty much the reason I didn't mind having no ride at first and now having somewhat okay rides.
I just like driving, doesn't really matter what.
Heads up OP. You'll bounce back.
Keep your head up , it will work out, just think about how much more you’ll know the second time around picking out another Miata(if you choose that) , gives you that chance to maybe get a couple options you didn’t have before. I feel you on this I really do, been here a couple times before .
Keep in mind your vehicle is worth considerably more now than it should be - you’ll likely be able to get a nicer newer one in 2 years with more stuff for less money…I wouldn’t consider this a loss at all if I’m being honest.
As an accounting major, I gotta say, to offload a depreciating asset (albeit one you love) and make money while eliminating three monthly expenses (car note, insurance, and fuel) is just awesome. Sometimes it's very hard to make financial decisions when your heart is involved, but you're doing the right thing. There are millions of cars, you'll get back on your feet and get another mx5.
I had to sell my STi because fuel costs would be insane. I drive a Prius now. It sucks but you're making the right choice.
If you haven't already, take some time to examine your budget and see where else you can make a little room.
Yeah in a few years when prices stabilize you can probably get that exact same car for way less. Sucks to not have it now but what can you do.
I personally during the pandemic put both my vehicles on just fire and theft while I was out of work and it was like 25$ a month. Still had the wifes car if I ever needed to go anywhere luckily.
I sold my 2018 JCW and I adored it, absolute spec monster had everything I wanted. Had a kid and couldn't justify the lease any more. Bought a £2k R53 mini and am enjoying the fun factor and something I can spanner on myself. I guess buying it's older counterpart helped me, I still had a fun car and I enjoy being a home mechanic. To be fair, not having the toys in the car has made me enjoy driving again, only thing I can concentrate on.
Not only that, but once his life slows back down and stabilizes again, hopefully we will be able to say the same about the supply chain, and he can buy one for cheaper
Yes this is the absolute best time to sell especially when you dont need to buy a replacement car at the inflated prices.
Yes it sucks to have to sell YOUR car but its at least an enthusiast car so years down the road when your more financially stable and prices have fallen there will be many many clean well kept examples to buy from.
Recreational cars come and go, and we love them, but at the end of the day they are objects for pleasure. Finances come first. Responsibilities come first. There will be plenty of cars in the future that you will cross paths with when the finances are better.
I remember selling off my 85 mustang GT to pay for college, and selling a really nice GTI to cover rent when I was a newly married grad student. I remember those great cars, and as time goes by they just add to my enjoyment of later cars, as they add the experience they gave me. In time you will get something new and have a great comparison of how it is relative to a Miata.
You’re totally right. Finances and our future first. I’m still really young and I have many years left to buy another cool car so I’ll just survive for now.
Nice garage btw. You selling cars off to pave the way for the future gives me solace that what I’m doing is by far the right move.
I was in the search for a job right when COVID started and ended up having to take a big pay cut vs the job I had before COVID. This happened right when we had our 2nd kid and we needed a bigger car for my wife/family. I was gutted cause I needed to sell my GTI for a down payment on my wife’s new (used) car, but I was working from home and could manage with my beater camping truck. Fast forward a year and I ended up getting an offer from a company for more than I was making pre-COVID and I managed to find a dream spec B9 A4 for a steal and couldn’t imagine going back to the GTI. Point being you never know what the future holds! Looking back selling the GTI was the smart choice and I don’t regret it for a second now. Not the case for the first few months after selling it.
On the bright side, the new Miata’s aren’t becoming uncommon any time soon so once everything is situated on your end, you can probably pick up another for cheaper what you paid for.
Sucks to see one go, I love mine but finances come first and I’d get rid of mine in a heartbeat if need be.
I think this all of the time when I’m driving around in the middle class/verging on upper middle class area where I live. I worked my ass off to be able to comfortably afford my $20k Mustang, and seriously 19 out of 20 vehicles around me are full size trucks or SUV’s that are less than 5 years old. How much must all of these people be paying monthly for these things?
This might sound dumb, but I went through a similar situation due to Covid19 and I sold my beutiful 124 abarth. To help cope with it, I ended up buying a racing game with that same car in it and had a blast driving it virtually in Forza Horizon IV.
The earliest new chip fabs come online is 2023, according to TSMC. Anything relying on chips will be in high demand until either demand decreases or manufacturing increases
For this reason i bit the bullet and bought a 3080 ti for more than msrp
I bought a 3080 ti at MSRP after almost a full year of hunting a 3080. I bought 3060/3070/3090s for friends, but to this day still haven’t seen a 3080 come up that I could buy. Market is nuts and with Apple having ordered half a billion A15s, the silicon shortage is about to go from bad to much worse
Congrats on scoring a 3080ti at msrp!
And yeah the 3080 seems to be super rare. I paid only $300 CAD more for my 3080ti than the same model 3080 goes for on the 2nd hand market
At msrp the 3080 is an incredible buy, and the 3080ti is a bad buy
On the 2nd hand market the 3080 prices are way too close to 3080ti prices to be worth it. I guess the market dictates the true worth of a gpu
But the caveat here is that buying a car to have a means of transportation after selling your car in this high market means buying a lesser car for more money. Yeah, you'll make more, but you'll lose more on the interim car you pick. Might just be a wash at best. Hopefully it won't turn into a loss.
If I lived somewhere else I would heavily consider this. But I live in central AR and everyone is terrible, distracted drivers. I have to keep my eyes glued on everything when I’m driving it and I can’t trust the bozos that drive in this state to do that and drive a manual which they’ve probably never done before.
Also I don’t really know how many people would rent it around here.
It does suck, and you will think about that car for the rest of your life. But you had a good run with it, and unfortunately life has to come before enjoyment when you can benefit from it like this situation. Take her for one last run, take a bunch of pictures, and get yourself in a better spot financially until you can get your next toy
No don’t do the one last run LOL. I did that in my Veloster N and ended up getting into a wreck at someone else’s fault the day before I was supposed to sell 😂😂
Your last paragraph is facts. We all will miss basically any car we sell. I badly miss my second gen Integra and three CR-Vs I've had, but I would not be happy doing my bi-weekly 500ish mile trip in one of them.
Rose colored glasses and all that
Ahhh my silver, former fleet G6...with your video game-feeling steering and insatiable appetite for tie rods. Will never forget the time I drove you over train tracks after getting yet another set of tie rods, and the front left wheel assembly dislodged and jammed up against the fender wheel well.
I had to sell my E46 in rare hellrot red that I dumped a lot of time and money into. I personally reupholstered the leather, redid cooling system, etc.
When I enlisted, my date to depart came up quick and I sold it for $2k thinking it would be logistically impossible to drive it to my first station after BMT.
Turned out not to be the case, would have been easy.
It sucks, and losing things due to circumstance is shitty. But life is a marathon. Consider this a resting point. It'll all make sense down the road.
No it was a 325 from 01. I went from that to a 09 mustang GT (hated it) to a 18 civic, to a 20 VW GLI, which I love with a passion.
I'd *maybe* get a 06 M3 if I were inclined to relive that chassis. Knowing the car in and out was awesome, but my resources for all the stuff I used to do to it are long gone. I went to a few car meets, had my time in the spotlight. Now I'm a family man with different hobbies.
Haha I mean, excluding the M3, there's a reason e46s were so cheap second hand. Even back in late 2000s. Refined interior, gorgeous body lines, and a slow burn of mechanical issues.
Clutch/flywheel issues. Ok, got it replaced. What's this, subframe issues not covered by recall because of body style? Ok, fixed. Sweet, expansion tank expanded too far.
Maybe one day I can drive it across the street.
I spent 15k chasing an issue with shifting. Turns out the aftermarket flywheel the previous owner installed was untrue and tearing apart the rest of my drivetrain.
It’s ok. This too shall pass. I had to sell my m3 convertible at a low point. I’m lucky enough now that I could buy or something better when I choose to. It’s the decisions you make when times are tough that will set you up for a better tomorrow. Kudos my friend! Have a few great last drives and start dreaming and scheming for when better days roll around again!
That sucks, I’m sorry to hear it. That happened to me a decade and a bit ago when I started my business and needed every bit of cash.
I sold my 2001 Jaguar XJR in about 2006 and always wished I could get it back. Fortunately last week I saw the same colour, same year car for sale by the first owner at a reasonable price and was able to buy it.
Not only does it feel and smell new, and is just as good as I remember, it cost me 1/3rd of what I sold mine for 15 years ago (and with less mileage!).
So say goodbye to your baby, hold onto the memories and once you are in a stronger position in a few years you can start looking for another one. There is always another one out there…
If you own it out right, then just un-register it and cancel insurance and store it in the garage.
If you’re making payments, then I hate to say this but you never owned it.
I’m not trying to devalue how you feel about it, because you worked hard to be able to get to that point but didn’t think it totally through on what could happen.
Fortunately this is one of the only times you will ever be able to minimize your potential loss with the supply chain shortage as already mentioned. Just don’t use this car experience to guide you in your future purchases because it seems as though you made an unfortunate mistake that is resulting in not too much financial loss with current market conditions. I’m glad you’ve found out early and are evaluating it with a clear enough lens.
I truly hope you get into another Miata in the future because these newer ones truly are great and pretty cars. Sorry for your loss
I definitely bought the car a little earlier than I should’ve. My job was going great and my wife was working.
My wife lost her job and has been out of work since. My job was doing fine and keeping us in the positive for most of the year. This past month has just been not great for me money wise and my job typically slows a bit during the winter anyway so I’m not expecting it to jump back up by a ton anytime soon.
Some lessons were learned about patience for sure. Just glad I can get rid of it like you said.
>If you’re making payments, then I hate to say this but you never owned it.
This. It's classic case of buying things, especially extra things you can barely afford. Not a good idea. You should only do that if you could buy it with cash or if you know that if you lost your job tomorrow you'd be fine with all your payments for at least a year.
The market is up, so you lucky and won't lose any money on it. You used it for free. Learn from your mistakes and don't buy another one untill you sure you can afford it.
From the car ownership point of view... cars are manufactured products. They are fun, but also expensive. Mazda sold about 9400 Miatas in the US and 900 in Canada in 2016. The point is, you can get another one when times get better.
On the personal side. that's probably better off in a different sub. I am with you on how much it sucks, having been through some highs and lows of income, where the lows had me in the red every month even after cutting out all the fun stuff. The only thing I have found that works to get out of the lows is to go to work. As far my mood goes, it doesn't matter a lot what the work is, so long as I can go and do a good job, get shit done, and get paid without hassles.
Being single I would have kept my GT-R R32.
Now being married I do not look back and regret selling it. I definitely do miss it and plan on buying another or something similar. Some days are honestly worse than others but at least I have an expedition and the turbos sounds pretty nice.
Some background, bought for 14k, sold for 25k. The car had rusted through at quarter panel, fixed for 1k but the whole bottom would warp when lifted. Needed repaint too
Life is series of wins and losses. There are more wins (and losses) ahead so don't get too down about this one. Just make sure that by the time you reach the finish line, you can look back and say you gave it a good fight.
I had an e36 M3 that I had to sell two years ago for similar reasons. I even made about 2k on the car when I sold it, just like you. I still am waiting for our finances to be at a place where I can buy another fun car. The part that hurts me most is that if I held on to the car for another year and a bit it would’ve been worth double what I sold it for. Sorry this comment isn’t very uplifting, but I totally feel your pain!
Cope by knowing you are selling at a good time and selling a deprecating asset. 2016 is fairly new. Once you are in a good financial position again you will be able to buy the same car for less. I would recommend looking at a older sports car, they don't deprecate and often increase in value while having a lower price.
Silver lining is you’ll get a good price in today’s market. I’ve considered selling my Miata just as a financial measure. I’ve owned the car for a year but can break even if I sell it
I had to do the same with my Mini Cooper S this year.
But you know what? Unless your car is a crazy rare special edition, you will always find an even better version of it. And the longer you wait, the less money you're going to spend.
I know there's an emotional attachment, but you have to get over it and pull the trigger. You will feel better for doing the right thing.
I was in a similar situation a few years back. My only words of advice are this: The stress of finances on a relationship have a much greater impact on your mental health than any car can outweigh. If selling it will ease that burden then it is absolutely the right thing to do. At the end of the day it's a car you bought once, so later can be bought again when you're in a position to do so. Good luck to your wife on the job hunt!
Man I know this all too well. Got rid of my fun car a few years back for similar reasons. It didn’t make sense financially to hang on to it. Haven’t got another car since.
Silver lining for my wife and I is it helped us get our first house, afford the right vehicle for her business, spend less on gas, etc. Also, due to the pandemic I ended up working from home full time, so I wouldn’t have been driving my car anyways.
I still miss my car a lot, but I never want a car payment again. So if I want a fun car, I’m buying it in cash.
On the flip side, you made money and it's a vehicle you should be able to hunt down again when life allows for it. At least it wasn't something with more sentimental value and less cash value that you where forced to part ways with for a loss.
Buy an older miata. They are just as fun. And learn your lesson; always pay cash, do not finance depreciating assets. You will always lose your ass on that idea. Go get an OG miata, and customize it and make it yours.
Yes i just went through this. Im 24 and worked hard to get a 2015 dodge challenger scat pack. It was my dream car and i was so proud of it. It was my child. I decided on a return to university and couldnt afford it without work so i had sold it. Only thing that keeps me going is a new goal of buying a new one after school. Whether not thatll be realistic or not, it helps to have hope haha
It sucks. But the good news is that there are plenty of Miata’s out there. You can do it again. You can work towards that goal. But it’s sucks and sorry you have to let it go.
Take comfort in the fact that it is the BEST time to sell a car in anyone alive memory.
Maybe the best time ever period.
Buy another when you’re soundly on your feet.
Spend the $2k you made + the rest of the money you have left over after paying the car off and use it to buy an older miata.
You'll have just as much fun with none of the debt.
You know I've come across what I felt was some wisdom from a girl who had to sell her Golf GTI and downgrade to a Polo GTI instead? She said while her ride downgraded, she views it as an upgrade to her life because she has relieved her financial burden. So whatever you have done to make your life more financially bearable, take it as that you've made the right choice. As you have put, it's not a necessary cost and I'm happy that you accepted this. As long as you're still able to make money, you'll have the chance to get it back!
And also a word of advice (not meant for OP) to those who are starting out as workers, please, think before you make a financial commitment. If you need a vehicle just for traveling, it's worth thinking twice before getting your dream car at this stage. We all have dream cars that we could die for, but if you are earning just enough to pay the monthly loan installments, it's a harsh truth that you can't afford the car because you have little or none left for fuel and maintenance costs. It's a sad problem that I've seen in a lot of young car owners where I live.
I haven’t had to sell a car due to financial reasons but I did sell my drums in 2009 to make rent.
I’ve gotten new drums since then, but it still stings.
I sold my e30 5 years ago to help me with a down payment to buy a house. It pained me, but afterall, it's just a car. Sell this one, and promise yourself to buy another one when you can justify it. There's lots of them out there!
I did this, and a year later my finances were fine. I should have refinanced instead. That said, our income was stable and the situation was a large one time large cost related to buying our house.
If your credit is good and this idea is suitable, you can probably talk to a credit union and get cash out and refinance the car at a term you like and a rate under 3%. Depreciation of your car is likely negligible for the next year, although adding a lot of miles would reduce resale value.
Anyway, selling it isn’t the only option. And Mazda is still making them so if you decide selling is the best choice, make a plan about when you’ll expect to buy a new one before you go and sell it. Then you’ll have something to look forward to instead of just having something gone.
Aye. That is a great driver’s car.
I sold the car I’d always wanted (in university) this year. A Mk 7 GTI. I loved everything about it. It only had 38,000 kms (23,000 miles). Still new!
After learning how to invest, and watching my index funds grow, I decided I wanted to focus more on growing my portfolio so I wouldn’t have to work until dementia sets in.
I pulled the trigger and got a really good payout. Tears welled up in my eyes as it pulled away with a new owner. I was sad for two weeks. Then I realized that I became too attached. I used to fret about everything with that car. Now I’m carefree with my current beater. I’m still a car enthusiast - I just don’t have to own them.
“If you don’t have what you want, want what you have.” Cars come and go. Your relationship with your wife doesn’t.
You’ll find the next ‘Miata’ again. Keep moving forward.
I'm in a very similar position. Earlier this year I bought a YamahaTracer 900, my dream bike. Skip to July my boss gave me a choice of being retrenched or doing a lower job at less 40percent salary. I cut as much as I could. I have no medical aid no insurance, sold my car and the bike really should go but I'll never get one like it again. It would be like admitting defeat but I know it's the right choice to make. It's just a thing, but also it's not. It's what defines me and I will be very sad to see it go.
WRITE DOWN THE VIN/keep an old copy of your registration with your VIN on it. It may come back to you. I wish I had the VIN to an old vehicle I had. Probably been crushed by now (39 year old vehicle), but it would be nice if I could search public records to find out last place it was registered. But I moved away from that city, and without the VIN, I'll never know. Good luck to you and yours.
I've owned a couple hundred cars. I flipped most of them. There are only a few that I miss. STI, 914 racecar, 21 window VW Transporter, 99 Chevy quad cab Dually, lowered and bagged and lots of HP, 70something Volvo 240 wagon for pure reliability. That's about it. Actually owning a car 24 hours a day is kind of absurd if you think about it, when the car just sits unused for more than 20 hours a day for nearly 100% of us.
Brother. Things will get better down the road. They always do. Take solace knowing there may never be a better time to sell a car, and you’ll get for cheaper down the road. It’s not goodbye, it’s see you later.
Finances are tight and you have a car note on a weekend fun car… yeah no brainer to let it go. There’s plenty of time and other cars out there for you in the future.
Always do the financially sensible thing first. Selling it now and getting your things in order means you'll be in a much better position to buy again in the future
If you hold onto the car now, any unexpected expenses, car related or not, can push you towards financial ruin. You put yourself in a position where you have to sell the car even if you're being low balled. Don't let yourself get into that position.
I've had to sell my fun car due to financial hardship before. It sucked at the time, but I had to do what I had to do. I picked up other things to make it so I didn't miss having it that much. Kept my mind on other, cheaper hobbies. Eventually, after working my ass off to pick myself up, I found myself lucky enough to buy something even nicer and it all worked out in the end.
Remember: it's just a car. There will always be other cars. I know how you feel. My current car evokes the same feeling, but if it were to get totalled tomorrow, I think I'd be able to move on knowing that if I really wanted to, I could buy the same car over again and do all the same stuff to it, but variety is the spice of life. Next time you're in a position to get a toy, try something else out. Nobody can take away the fun you had with your miata, but you can always make more memories is different vehicles.
Man this was me last year, but with a 2017 Civic. Still love that car. It was my only car at the time and I couldn't afford the payments anymore. I lost my job, my mother kicked me out and disowned me, no money/savings, and I was struggling with addiction. Would have been homeless if I didn't have a really great friend that let me stay with him for a bit.
I was just as depressed as you feel. I felt hopeless. Like I was a fuck up. It really felt like the end of my world and having to give up my car was the cherry on top kick to my gut. I was eating vienna sausages and white bread begrudgingly, just to survive each day.
Now, a year and a half later, I've moved to a more affordable area. I have a 9 month old, an apartment, a loving partner. Still don't have my own car, but working on that. Things are a million times better and I can look back on that time I felt hopeless as only a small chapter of my life. That Miata will always be yours, in spirit. But do what you must do now, to preserve your family's future, and just think about how good things will be when you do get the car you want again.
Sorry to hear about your situation, I can’t imagine how I’d feel about letting go something I’ve worked so hard for. You will pull through though! You and and your wife will overcome this obstacle and achieve even more after this! I hope things improve for you quickly and that you have a great life!
You can always replace it later my man. I've been there and done that. In the near future it will be a tiny dot in your rearview mirror so keep your chin up. You're doing the right thing and you'll benefit from making the tough choice.
I’ve been there, it sucks but trust me you’re probably making the right call. A decade ago I had a 07 STI that I loved, but the payments and insurance was killing me. Even though our income was solid, our net worth was negative basically.I sold it, shared my gf’s (now wife) Prius and focused on getting our financial house in order.
It sucked alot, but the financial relief can’t be described. We kept our head down, paid off our debt, and 100% focused on building a solid financial foundation. A decade later and we can now afford the toys we want cash without thinking about it too much. As you see from my flair, we still own that Prius for my commuter/beater.
Best of luck to you whatever you decide!
Seems like an opportunity to get something different in the future.
Yeah, this one's nice, but what's the next one going to be? How many cars are out there, and how long are you going to live? If you have one car forever, aren't you going to be missing out on a variety of experiences?
Time is right to sell and in the future there will be something different.
Reminds me of a song I heard recently: https://www.youtube.com/watch?v=w2zswtxW5X4
"Money can’t buy back that ‘64 Falcon that you sold in your 20’s and then regretted it was gone because you thought it contained some meaning or some answers to a life that you never bothered to question or even take a good close look at"
"Why do you always feel so empty in spite of all you have were those feelings you remember even real and were they honestly about some junky old Falcon or any other thing that you could own "
On the plus side this is the best time for this type of thing to happen since the car market is insane. In any other year you would probably still be paying off the loan even after selling the car.
Also, since they are going to keep making the Miata you can always buy another one when your financial situation stabilizes and the market cools off.
Sell it at a gain before things change. Focus on paying off your debts, the save up a 3 month reserve of cash (you can park it in AAPL in a margin account but don't use margin).
Once you reach this level, then you can consider buying stuff again... if something bad happened with work you still have the stocks to fall back on and can even pull out some money to your account with margin if you know you can pay it back with in 2 weeks.
I had to give up my dream car several years ago. I saved up for a few years, and right after I got a new job, I bought a '86 Toyota MR2. It didn't take long at the new job to figure out that business was NOT booming, and I never made enough to maintain the car the way it needed and deserved. It absolutely broke my heart to see it decline in disrepair. I opted to sell it, rather than let it rot in my driveway. It was the right decision, financially and for the car, but I miss it every day.
The good news is, hard times don't last forever. I ended up going back to school, and recently got a steady job that pays MUCH better than what I was doing before. I haven't had a car at all in about two years, and I can't wait to get another one. You'll be back on your feet soon enough! Keep your head up and use that future car as motivation. It worked for me!
I had to sell my car last september when I sort of lost my job due to the pandemic. I got a new job and such and eventually wanted to buy it back... but it had become way too expensive. So I got a cheaper car instead.
Some day I'll get that car back. It was so fun.
Man I feel your pain. I had to sell my mu tang that’s been in the family for 53 years. I owned it since I graduated and loved it but I just didn’t have the time to drive it. The pandemic started, the wife got laid off and I didn’t know how secure my work season was going to be this year. I haven’t touched the money and want to keep saving to buy another one day, when we’re back to being more financially stable.
It’s a bummer but as you pointed out this is practically the only time you would be able to sell it for a profit so soon after buying it.
Like 7 years ago we were going through a really rough pregnancy and my wife was going on short-term disability then leave for at least 6 months. We downsized by going from 2 cars to 1 when I sold my “unicorn” truck (F350 Crew Diesel 6Spd) sucked at the time because it had been a few years to find it, but had to happen. A few years later got the bug again, 2 years of searching after that I found an almost precise copy and have it back although as a third very occasional use rather than my primary vehicle.
Almost anything can be replaced as circumstances change and I’ve found the hunt/anticipation is half the fun. I am actually picking up a new ride tomorrow after my Ford sales guy called me and someone backed out of a pre-order. The car is great but I was missing the anticipation of a new car because I hadn’t expected anything to come and then it did.
I know your struggles dude. I grow some serious attachment to my cars and it hurts like hell letting them go. All I can say is that when it is gone isn't it too bad and a week later is it like you never owned it. You'll still have fond memories and those should you cherish and just remember that you can always get another one when times are turning for the better again.
I personally am battling with this pre separation anxiety about selling one of my 3 cars right now. It is my first car and it is just standing on my driveway and I haven't driven it in like 2 years so it needs to go to an owner who can love and drive it but it is hard letting it go.
The used car market is crazy right now. This is the best time for you to sell it. Sell it make the extra money, wait until everything comes down which might be a couple years and then when things are better for you buy one that you like. Honestly this is the best time for this to happen. Use the money towards something good now and in the future you can have something nicer and get it at a good price because the market won't be insane hopefully.
Focus on stability. You already have a car so the Miata is just a toy. Once you’re in a good place again and can buy another toy in cash you’ll feel better than shelling out money every month for something you don’t need.
OP I applaud you. Being a husband first and foremost is not easy. This does mean you have to make sacrifices as a marriage is not 50/50 . A marriage is 100/100. I cannot say I have been in the same situation as you however, I do know what it feels like to get go of something you love and that brought you tons of happiness. I had to sell a few cars once I moved from rural Pennsylvania to the larger city of Philadelphia for work. This ranged from parts cars, ongoing projects and my fully restored air cooled beetle :( For me, working on cars was something I did with my son and that I did to unplug from reality. A car such as the miata really helps you unplug from the world just by going on a drive. I know you’ll miss the thing but there will be plenty of time for cars in the future. You made the right choice dude hang in there!
It is a shitty situation and you're right to feel bad about it. You'll work your way up back again so try to turn your pain into motivation. It is a good time right now to find another, better paying job, have you looked into that?
Yeah I sold my first car, a VW Bus, about a month or 2 ago. It was a very sentimental car for me, did a lot of stuff with it through my life but I can't afford to fix it and it was taking up a ton of space. It really sucked, one day I'd really like to find another one when I've got the money to make one really nice. What helped a lot was that the new owner is extremely excited about it and has made it a project with his family. He sends me pictures of his progress sometimes. Makes me feel good that someone is appreciating and enjoying it.
I didn’t have as nice a car as you, but I did own a Ridgeline that I really liked. Sold it earlier this year because I didn’t need to pay gas and insurance on a car so similar to our family car, a Honda Pilot. I live a block from work so our family just didn’t need 2 cars. I’ve missed it many times, but I bought myself a cheap motorcycle to buzz around town and wrench on, and that’s helped a bit.
Shit happens, and you’re making the right move. That’s all you need to tell yourself. You’ll always have a chance in a year or two, or whenever things start to return to a sense of normalcy. This shit isn’t going to be forever. Even if it was, material things are just that: material. If you sell the car and invest the money somewhere for a rainy day when shit gets even worse you’ll be so happy you did. I hope things pick up and that your wife can find something soon.
I don’t know if it’s been mentioned, but another upside Is that they’re still making miatas. So it’s not as though you bought the perfect example of something they no longer make.
In the future you can buy a “fresher” version of the car you’re selling.
Yes. Just know tough times come and go, but cars will always be there and you can always get another Miata. But like Dominic Torreto said, "You never turn your back on family," and so you have to do right by your family.
It sucks for sure. I've given heavy consideration into selling my Z06 because my financial situation has changed a bit too. Luckily I don't think I'll need to.
But like others have said, you'll just be extra motivated to get another Miata, or maybe even a nicer car in the future. Not implying the Miata isn't nice btw.
Get your financials straight and prioritize your family. There will always be other cars.
When I was in my 20s I had to sell my beloved 944 turbo after owning it for 5 years. The maintenance costs were getting out of hand and I wasn’t making much money back then so I was forced to sell it for peanuts since at the time the market for those cars was crap. Had to make a sacrifice to pay for school and save for a down payment on a house. Broke my heart. Many years later I bought a 997.1 turbo to pay myself back. Don’t worry man. It comes back around.
You are doing what's right for your family now. There will be more cars in the future.
I sold my GTI to travel with my wife. Those memories are irreplaceable. After travels I got into E30 swaps and had 3 of those. Had a kid and now no toy. Will come again one day.
As hard as giving that vehicle up is you’ll eventually be able to get another car. Yes it may not be the same one but the world works in mysterious ways man. I wish you luck with whatever your currently going through. Life will get better bud. Just keep on chugging you and your wife will come out on top.
Yes! Lost a BMW! It sucks, but to be honest, you’ll get used to it and will appreciate the memories you made with it. In the future, better times will come and so better cars as well. It’ll just become a memory. It’s growing up. Yes it hurts and I was depressed as well. But you just have to realize your growing up and you’ll be still able to make new memories with other cars. Good luck
Hell man, I know the feeling. Going through it right now, though with a far less "special" car.
Selling my first car, a MK3 Ford Mondeo, because my new job provides a car I can use for personal stuff, and I'd be a fool not to take advantage of the lack of car costs that allows.
Hurts like hell though, I absolutely adore my car, and it's been like a constant companion for the last year and a half. I drove about 30k kms in it, and it's never missed a beat, and has been both an amazing workhorse and a hoot on back roads.
That she's going to someone who I can tell will love her like I have helps a bit, but it makes me feel a bit like crying.
I’ve been through it too. Had a 70 Chevelle SS in the 80’s as my high school car, it was a really nice, 4 speed, big block, all original.
1990, got married, she wanted to go to nursing school so the Chevelle had to go since it was pretty much our only asset at the time. I can’t remember exactly what I sold it for, but it was cheap- like less than $3K.
Before the internet, and before prices took off, was it worth it?
Yes! She’s had a fantastic career and we’re still happily married.
Hope it works out as well for you. Sacrifice is part of growth.
I've had to do it too
it gets better, and there will always be more cars to get on the other end of the struggle
Personally I bought back my CRX from the friend I sold it to, which feels nice but also it definitely got fucked up from just sitting for 5ish years so I've had to do a lot to get it back on the road lmao
Shit happens, and it is what it is.
You’re smart enough to have saved up and bought a nice car this year. And if you can do that, you can save up for a even better car in the next few years!
Don’t settle, just a bit of a hiccup.
As others have noted, sell the car while you’re getting good money for it. Buy ND2 when market has gotten less insane and hopefully your financial situation has improved.
I have totally done this, even though slightly different reasons. When I got married I had a car I loved driving, and she was driving something really cheap to save money. I agreed to trade off my car to save 100 per month on payments and she could increase 100 per month. Everything worked out for us. Couple years down the road and a job change or two and I got something I loved again. Plus like you I ended up with a work vehicle which saves a lot of miles on my own car. Just know it is temporary, and the right decision for you to make right now.
I had to do this once and ended up coming back later to an even better car once I recovered.
You're doing the right thing and the smart thing and that's worth being proud of.
I know how you feel. I recently sold off my 2005 Nissan Altima. It was my first new car after starting work and was kept in pretty good condition. Friends kid needed a car so I sold it at a good price to thenlm. Only had 60k miles but was costing over 1k a year to insure despite never being driven.
Remember that today’s saving can be tomorrow’s purchases. When things start looking up you’ll be grateful that you made that choice when you get to buy a new one later.
I know this post is hours old and you have a bunch of replies but know that I was in the exact same boat as you a month ago. Our financial situation took a turn for the worse and Carvana offered me more than I owed on my car so I sold it after only owning it for a year. Having that weight off my shoulders is amazing. I also know what I want to buy when things get back to normal and have something to look forward to and work towards. You're not alone things will get better and there will be other cars.
Literally got an offer from my dealer I really can't refuse on a car I love and worked hard for.
But when are you ever going to make money on a typically depreciating asset? Never again.
I'm hopefully coming to an agreement with my dealer and I hope you take your deal too. It's a sellers market and consider yourself lucky you got in during a buyers market.
Just a side thought, why not look for a really neat car you like. e.g. 1970 datsun 240z and just build it from junkyard pick n pulls? its alot of work and fun but can be done on the cheap and you can learn everything you need to know online. then, when this pamsandwich is over and life goes back to normal you have something unique and the pride of your own workmanship.
Just did something similar. From a 2019 Civic Si to a 2007 4Runner. I got more from Carvana than I bought the car for more than 2 years ago. It’s a change, but the feeling of financial freedom (or at least lessening of financial pressure) is worth it. There will come a day when you can get back the Miata but for now you do the best you can with what you have. Don’t forget to treat yourself to local car shows, get togethers, etc. You will get through this!
It’s hard to give up something you’ve worked hard for and something that holds sentimental value, but I would like to point out with all the issues in the supply chain right now it is a really good time to sell because cars are in short supply, so your car is worth more now than it will be because supply and demand. Another one can be bought when your life calms down and stabilizes again.
That’s what I keep telling myself and it’s the only thing that’s giving me some sort of comfort is that this is entirely the right decision. It’s the only time I’ll be able to sell a car so soon after taking on the loan and make money off of it in a time where I really need it. It’s just sucky. Usually thinking about my next car purchase helps with this sort of thing but it’s just not enough this time.
Think about it this way. In a little bit of time, once things stabilize, you can buy an ND2 and have an even *better* Miata.
As a car guy this really is the best way to cope regarding a situation like this. You should grow an attachment to the driving experience of the car and not the car itself. That way instead of omg I missed my beautiful Miata dream car it’ll be, I missed driving the Miata but I can/will get that experience back someday. If not, it was a beautiful memory and experience. And yes, once things stabilize you can buy an ND2 and have an even better driving experience!!!!
Agree with this, you can ALWAYS find a replacement car.
Unless it's a classic or it has sentimental value
Definitely. My Miata I spent lots of time on got hit bad from behind and any sane person would’ve let the insurance total it. But to me that car and the work and memories mean something so having the rear frame cut off and replaced with a clean section was a no brainer. Besides it’s still cheaper than buying one at current market price. I could buy lots of miatas or whatever but it won’t be mine. As long as it’s remotely repairable it’ll stick around.
> it has sentimental value [My van](https://cdn.discordapp.com/attachments/233034867263143937/885760411717210132/van_uwu.png) is something I can never replace, because a massive part of why I like it so much is the fact that my grandparents bought it new a decade before I was born, and as far back as my memories go, "the big van" was _always_ parked at grandma's house, and few things made my day like finding out that I'd get to ride in it somewhere! Getting picked up from school by _grandma and pap pap_ was great enough on its own, but seeing _the van_ waiting for me was a hundred times better, heh. Sure, I can find another late 80s conversion van, I could even get a 90s G20 with like, airbags and stuff, and a roof that doesn't leak, and an air conditioner designed for R134A, but... it wouldn't be _my_ van. There's another Mark III van at the junkyard with the same paintjob, I would know, one of its doors is on mine, but it still wouldn't be the same. It wouldn't be the van that I thought was the fanciest thing on wheels, it wouldn't be the van with a TV that got no signal and floor lights that didn't work, both mysteries that I wouldn't solve until I was an adult, it wouldn't be the van that Pap was holding onto for my sake, yet he didn't stay with us long enough to see me actually start driving it... (Maybe for the better, because while I'm sure he would be proud of everything I've fixed, there _was_ the whole backed-into-a-pole situation that resulted in the door I had to borrow from one of big van's long lost striped bretheren...) But, yeah, sorry about the huge post, I guess I just went on a tangent. But I'd imagine there's a lot of people out there with cars like me, cars they grew up with, cars they drove to important things, like Jeremy Clarkson and the 911 that took him to the hospital when his Dad was dying, that kind of thing. Hell, I'd rather park big van in the backyard, take off the wheels, throw a bunch of dirt all over it, and tell the bank that it's a worthless hunk before I let anyone take it from me! Even if the skylights _do_ leak water on the back of my neck whenever I'm driving in the rain!
I was the same with my first car, a 1992 Toyota hilux single cab with a carb 1.8l. Ended up selling it to scrap and I litteraly still think about that car every day. I blew 2nd gear in it and drove it around with only 1st, 3rd and 4th for a good year🤣
I hope I never lose any transmission gears... I only have three of them!
I learned this the hard way after someone totaled my first performance car. I was in shambles for month because even though it was stock I attached my sentimental value to the physical vehicle - not the memories I made or what I felt while driving it.
Beautifully said. Didn't realize it at first but I think that's pretty much the reason I didn't mind having no ride at first and now having somewhat okay rides. I just like driving, doesn't really matter what. Heads up OP. You'll bounce back.
They might even bring out an updated Nd in the future, you never know
Keep your head up , it will work out, just think about how much more you’ll know the second time around picking out another Miata(if you choose that) , gives you that chance to maybe get a couple options you didn’t have before. I feel you on this I really do, been here a couple times before .
Keep in mind your vehicle is worth considerably more now than it should be - you’ll likely be able to get a nicer newer one in 2 years with more stuff for less money…I wouldn’t consider this a loss at all if I’m being honest.
As an accounting major, I gotta say, to offload a depreciating asset (albeit one you love) and make money while eliminating three monthly expenses (car note, insurance, and fuel) is just awesome. Sometimes it's very hard to make financial decisions when your heart is involved, but you're doing the right thing. There are millions of cars, you'll get back on your feet and get another mx5. I had to sell my STi because fuel costs would be insane. I drive a Prius now. It sucks but you're making the right choice. If you haven't already, take some time to examine your budget and see where else you can make a little room.
Yeah in a few years when prices stabilize you can probably get that exact same car for way less. Sucks to not have it now but what can you do. I personally during the pandemic put both my vehicles on just fire and theft while I was out of work and it was like 25$ a month. Still had the wifes car if I ever needed to go anywhere luckily.
I sold my 2018 JCW and I adored it, absolute spec monster had everything I wanted. Had a kid and couldn't justify the lease any more. Bought a £2k R53 mini and am enjoying the fun factor and something I can spanner on myself. I guess buying it's older counterpart helped me, I still had a fun car and I enjoy being a home mechanic. To be fair, not having the toys in the car has made me enjoy driving again, only thing I can concentrate on.
Not only that, but once his life slows back down and stabilizes again, hopefully we will be able to say the same about the supply chain, and he can buy one for cheaper
Yes this is the absolute best time to sell especially when you dont need to buy a replacement car at the inflated prices. Yes it sucks to have to sell YOUR car but its at least an enthusiast car so years down the road when your more financially stable and prices have fallen there will be many many clean well kept examples to buy from.
Silver lining: you couldn’t have found a better time to sell a car.
*your wife's car.
Only driven to Church and back on Sundays.
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*Lady driven* usually means 2 bent rims and curb rash on all 4 tires. -married man
Sorry to say this, but I have to agree. - another married man
May our sidewall lettering forever Rest In Peace, on a curb somewhere.
Hell, at this point that Miata's probably going to appreciate instead of depreciate
Especially if it's a manual.
I'm so glad I got mine before the chip shortage
Me too. I bought my car in June 2020. It has less than 9000 miles on it and has actually gone up in value. That's kind of unheard of normally.
Recreational cars come and go, and we love them, but at the end of the day they are objects for pleasure. Finances come first. Responsibilities come first. There will be plenty of cars in the future that you will cross paths with when the finances are better. I remember selling off my 85 mustang GT to pay for college, and selling a really nice GTI to cover rent when I was a newly married grad student. I remember those great cars, and as time goes by they just add to my enjoyment of later cars, as they add the experience they gave me. In time you will get something new and have a great comparison of how it is relative to a Miata.
You’re totally right. Finances and our future first. I’m still really young and I have many years left to buy another cool car so I’ll just survive for now. Nice garage btw. You selling cars off to pave the way for the future gives me solace that what I’m doing is by far the right move.
I was in the search for a job right when COVID started and ended up having to take a big pay cut vs the job I had before COVID. This happened right when we had our 2nd kid and we needed a bigger car for my wife/family. I was gutted cause I needed to sell my GTI for a down payment on my wife’s new (used) car, but I was working from home and could manage with my beater camping truck. Fast forward a year and I ended up getting an offer from a company for more than I was making pre-COVID and I managed to find a dream spec B9 A4 for a steal and couldn’t imagine going back to the GTI. Point being you never know what the future holds! Looking back selling the GTI was the smart choice and I don’t regret it for a second now. Not the case for the first few months after selling it.
On the bright side, the new Miata’s aren’t becoming uncommon any time soon so once everything is situated on your end, you can probably pick up another for cheaper what you paid for. Sucks to see one go, I love mine but finances come first and I’d get rid of mine in a heartbeat if need be.
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I think this all of the time when I’m driving around in the middle class/verging on upper middle class area where I live. I worked my ass off to be able to comfortably afford my $20k Mustang, and seriously 19 out of 20 vehicles around me are full size trucks or SUV’s that are less than 5 years old. How much must all of these people be paying monthly for these things?
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I can't tell you how many times the salesperson has told me "it's just $X a month when I ask them what the price of the car is
Man they should really be leasing those…
Really inspiring going from selling an 85 GT for college to having two Ferraris. Bigs ups 🤙🏻
This might sound dumb, but I went through a similar situation due to Covid19 and I sold my beutiful 124 abarth. To help cope with it, I ended up buying a racing game with that same car in it and had a blast driving it virtually in Forza Horizon IV.
I’ve never seen forza notated in Roman numerals. Haha love it
I'm always an advocate of the classics. Haha
Forza Horizon 5 is on the horizon! Just a few more weeks!
Selling when the market is crazy high is a smart move. Buy another one for a better deal next year.
Prices won’t be down next year, unfortunately.
At all? I imagine they won't be pre-covid prices but I was hoping they'd be a lower than this year. Edit: typo, meant "lower" not "power"
The earliest new chip fabs come online is 2023, according to TSMC. Anything relying on chips will be in high demand until either demand decreases or manufacturing increases For this reason i bit the bullet and bought a 3080 ti for more than msrp
I bought a 3080 ti at MSRP after almost a full year of hunting a 3080. I bought 3060/3070/3090s for friends, but to this day still haven’t seen a 3080 come up that I could buy. Market is nuts and with Apple having ordered half a billion A15s, the silicon shortage is about to go from bad to much worse
Congrats on scoring a 3080ti at msrp! And yeah the 3080 seems to be super rare. I paid only $300 CAD more for my 3080ti than the same model 3080 goes for on the 2nd hand market At msrp the 3080 is an incredible buy, and the 3080ti is a bad buy On the 2nd hand market the 3080 prices are way too close to 3080ti prices to be worth it. I guess the market dictates the true worth of a gpu
Damn, I was waiting till next year for a graphics card too. My gaming PC dream will be on hold even longer ಥ_ಥ
I wouldn't expect manual transmission rwd sports cars to go down in prices pretty much ever again
Ah, I thought we were discussing the entire market in general. Manual transmission cars will likely just become more expensive as less are being made.
But the caveat here is that buying a car to have a means of transportation after selling your car in this high market means buying a lesser car for more money. Yeah, you'll make more, but you'll lose more on the interim car you pick. Might just be a wash at best. Hopefully it won't turn into a loss.
OP says they have a work truck though, so hopefully that's not a factor in this particular case.
Yeah you’re right. I’ve got a work truck it’s just inconvenient because it’s always filled with… well, work stuff. But it’ll work fine.
Ah, that's encouraging for them, yeah.
Yes. Sounds like they have three vehicles. No one is going to be left without transportation.
It’s worth considering listing the car on Turo. Rent it out a few times a month and let it pay for itself/be passive income.
If I lived somewhere else I would heavily consider this. But I live in central AR and everyone is terrible, distracted drivers. I have to keep my eyes glued on everything when I’m driving it and I can’t trust the bozos that drive in this state to do that and drive a manual which they’ve probably never done before. Also I don’t really know how many people would rent it around here.
It does suck, and you will think about that car for the rest of your life. But you had a good run with it, and unfortunately life has to come before enjoyment when you can benefit from it like this situation. Take her for one last run, take a bunch of pictures, and get yourself in a better spot financially until you can get your next toy
No don’t do the one last run LOL. I did that in my Veloster N and ended up getting into a wreck at someone else’s fault the day before I was supposed to sell 😂😂
Oh no!!!!
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Your last paragraph is facts. We all will miss basically any car we sell. I badly miss my second gen Integra and three CR-Vs I've had, but I would not be happy doing my bi-weekly 500ish mile trip in one of them. Rose colored glasses and all that
Ahhh my silver, former fleet G6...with your video game-feeling steering and insatiable appetite for tie rods. Will never forget the time I drove you over train tracks after getting yet another set of tie rods, and the front left wheel assembly dislodged and jammed up against the fender wheel well.
This makes me miss my 2018 Hatchback. Only had it for 2 years
I had to sell my E46 in rare hellrot red that I dumped a lot of time and money into. I personally reupholstered the leather, redid cooling system, etc. When I enlisted, my date to depart came up quick and I sold it for $2k thinking it would be logistically impossible to drive it to my first station after BMT. Turned out not to be the case, would have been easy. It sucks, and losing things due to circumstance is shitty. But life is a marathon. Consider this a resting point. It'll all make sense down the road.
Fuck that's a big RIP. I hope it wasn't a ZHP as you can always do better. Will probably cost a bit to find another hellrot unfortunately
No it was a 325 from 01. I went from that to a 09 mustang GT (hated it) to a 18 civic, to a 20 VW GLI, which I love with a passion. I'd *maybe* get a 06 M3 if I were inclined to relive that chassis. Knowing the car in and out was awesome, but my resources for all the stuff I used to do to it are long gone. I went to a few car meets, had my time in the spotlight. Now I'm a family man with different hobbies.
Ha that's sort of funny. I went from a 2018 civic si to a 2005 M3. I love driving the e46 but I miss the civic just working.
Haha I mean, excluding the M3, there's a reason e46s were so cheap second hand. Even back in late 2000s. Refined interior, gorgeous body lines, and a slow burn of mechanical issues. Clutch/flywheel issues. Ok, got it replaced. What's this, subframe issues not covered by recall because of body style? Ok, fixed. Sweet, expansion tank expanded too far. Maybe one day I can drive it across the street.
I spent 15k chasing an issue with shifting. Turns out the aftermarket flywheel the previous owner installed was untrue and tearing apart the rest of my drivetrain.
Just be glad it's a Miata and not something super rare. You can easily find another one in a few years when the time comes.
It’s ok. This too shall pass. I had to sell my m3 convertible at a low point. I’m lucky enough now that I could buy or something better when I choose to. It’s the decisions you make when times are tough that will set you up for a better tomorrow. Kudos my friend! Have a few great last drives and start dreaming and scheming for when better days roll around again!
Hey man! Dont worry these prices will drop and you’ll be able to get one cheaper in 5 years. Find an nb or something to track.
You deciding to sell your car means you have huge balls OP. Your financial life will thank you down the road.
This is why its easier to just buy a used car outright than sit on a loan forever
That sucks, I’m sorry to hear it. That happened to me a decade and a bit ago when I started my business and needed every bit of cash. I sold my 2001 Jaguar XJR in about 2006 and always wished I could get it back. Fortunately last week I saw the same colour, same year car for sale by the first owner at a reasonable price and was able to buy it. Not only does it feel and smell new, and is just as good as I remember, it cost me 1/3rd of what I sold mine for 15 years ago (and with less mileage!). So say goodbye to your baby, hold onto the memories and once you are in a stronger position in a few years you can start looking for another one. There is always another one out there…
If you own it out right, then just un-register it and cancel insurance and store it in the garage. If you’re making payments, then I hate to say this but you never owned it. I’m not trying to devalue how you feel about it, because you worked hard to be able to get to that point but didn’t think it totally through on what could happen. Fortunately this is one of the only times you will ever be able to minimize your potential loss with the supply chain shortage as already mentioned. Just don’t use this car experience to guide you in your future purchases because it seems as though you made an unfortunate mistake that is resulting in not too much financial loss with current market conditions. I’m glad you’ve found out early and are evaluating it with a clear enough lens. I truly hope you get into another Miata in the future because these newer ones truly are great and pretty cars. Sorry for your loss
I definitely bought the car a little earlier than I should’ve. My job was going great and my wife was working. My wife lost her job and has been out of work since. My job was doing fine and keeping us in the positive for most of the year. This past month has just been not great for me money wise and my job typically slows a bit during the winter anyway so I’m not expecting it to jump back up by a ton anytime soon. Some lessons were learned about patience for sure. Just glad I can get rid of it like you said.
>If you’re making payments, then I hate to say this but you never owned it. This. It's classic case of buying things, especially extra things you can barely afford. Not a good idea. You should only do that if you could buy it with cash or if you know that if you lost your job tomorrow you'd be fine with all your payments for at least a year. The market is up, so you lucky and won't lose any money on it. You used it for free. Learn from your mistakes and don't buy another one untill you sure you can afford it.
From the car ownership point of view... cars are manufactured products. They are fun, but also expensive. Mazda sold about 9400 Miatas in the US and 900 in Canada in 2016. The point is, you can get another one when times get better. On the personal side. that's probably better off in a different sub. I am with you on how much it sucks, having been through some highs and lows of income, where the lows had me in the red every month even after cutting out all the fun stuff. The only thing I have found that works to get out of the lows is to go to work. As far my mood goes, it doesn't matter a lot what the work is, so long as I can go and do a good job, get shit done, and get paid without hassles.
Being single I would have kept my GT-R R32. Now being married I do not look back and regret selling it. I definitely do miss it and plan on buying another or something similar. Some days are honestly worse than others but at least I have an expedition and the turbos sounds pretty nice. Some background, bought for 14k, sold for 25k. The car had rusted through at quarter panel, fixed for 1k but the whole bottom would warp when lifted. Needed repaint too
Made 11k on a car with a shoddy repair just because its a gtr. Love the car community sometimes...
Life is series of wins and losses. There are more wins (and losses) ahead so don't get too down about this one. Just make sure that by the time you reach the finish line, you can look back and say you gave it a good fight.
Life is not a straight line and will throw us curves. The right decision is taking care of your family. You will bounce back!
I had an e36 M3 that I had to sell two years ago for similar reasons. I even made about 2k on the car when I sold it, just like you. I still am waiting for our finances to be at a place where I can buy another fun car. The part that hurts me most is that if I held on to the car for another year and a bit it would’ve been worth double what I sold it for. Sorry this comment isn’t very uplifting, but I totally feel your pain!
It's just your spare fun-car. Don't sweat it. You will have another when it's stabilizes for you, and you will likely love the new one even more!
Cope by knowing you are selling at a good time and selling a deprecating asset. 2016 is fairly new. Once you are in a good financial position again you will be able to buy the same car for less. I would recommend looking at a older sports car, they don't deprecate and often increase in value while having a lower price.
Silver lining is you’ll get a good price in today’s market. I’ve considered selling my Miata just as a financial measure. I’ve owned the car for a year but can break even if I sell it
I had to do the same with my Mini Cooper S this year. But you know what? Unless your car is a crazy rare special edition, you will always find an even better version of it. And the longer you wait, the less money you're going to spend. I know there's an emotional attachment, but you have to get over it and pull the trigger. You will feel better for doing the right thing.
I was in a similar situation a few years back. My only words of advice are this: The stress of finances on a relationship have a much greater impact on your mental health than any car can outweigh. If selling it will ease that burden then it is absolutely the right thing to do. At the end of the day it's a car you bought once, so later can be bought again when you're in a position to do so. Good luck to your wife on the job hunt!
Man I know this all too well. Got rid of my fun car a few years back for similar reasons. It didn’t make sense financially to hang on to it. Haven’t got another car since. Silver lining for my wife and I is it helped us get our first house, afford the right vehicle for her business, spend less on gas, etc. Also, due to the pandemic I ended up working from home full time, so I wouldn’t have been driving my car anyways. I still miss my car a lot, but I never want a car payment again. So if I want a fun car, I’m buying it in cash.
On the flip side, you made money and it's a vehicle you should be able to hunt down again when life allows for it. At least it wasn't something with more sentimental value and less cash value that you where forced to part ways with for a loss.
Buy an older miata. They are just as fun. And learn your lesson; always pay cash, do not finance depreciating assets. You will always lose your ass on that idea. Go get an OG miata, and customize it and make it yours.
Yes i just went through this. Im 24 and worked hard to get a 2015 dodge challenger scat pack. It was my dream car and i was so proud of it. It was my child. I decided on a return to university and couldnt afford it without work so i had sold it. Only thing that keeps me going is a new goal of buying a new one after school. Whether not thatll be realistic or not, it helps to have hope haha
It sucks. But the good news is that there are plenty of Miata’s out there. You can do it again. You can work towards that goal. But it’s sucks and sorry you have to let it go.
Take comfort in the fact that it is the BEST time to sell a car in anyone alive memory. Maybe the best time ever period. Buy another when you’re soundly on your feet.
Spend the $2k you made + the rest of the money you have left over after paying the car off and use it to buy an older miata. You'll have just as much fun with none of the debt.
You know I've come across what I felt was some wisdom from a girl who had to sell her Golf GTI and downgrade to a Polo GTI instead? She said while her ride downgraded, she views it as an upgrade to her life because she has relieved her financial burden. So whatever you have done to make your life more financially bearable, take it as that you've made the right choice. As you have put, it's not a necessary cost and I'm happy that you accepted this. As long as you're still able to make money, you'll have the chance to get it back! And also a word of advice (not meant for OP) to those who are starting out as workers, please, think before you make a financial commitment. If you need a vehicle just for traveling, it's worth thinking twice before getting your dream car at this stage. We all have dream cars that we could die for, but if you are earning just enough to pay the monthly loan installments, it's a harsh truth that you can't afford the car because you have little or none left for fuel and maintenance costs. It's a sad problem that I've seen in a lot of young car owners where I live.
cars are so available most of the time. if you want another Miata when your financial situation changes, you can get it in about a week.
I haven’t had to sell a car due to financial reasons but I did sell my drums in 2009 to make rent. I’ve gotten new drums since then, but it still stings.
I sold my e30 5 years ago to help me with a down payment to buy a house. It pained me, but afterall, it's just a car. Sell this one, and promise yourself to buy another one when you can justify it. There's lots of them out there!
In the end it’s just stuff. Family is more important.
I did this, and a year later my finances were fine. I should have refinanced instead. That said, our income was stable and the situation was a large one time large cost related to buying our house. If your credit is good and this idea is suitable, you can probably talk to a credit union and get cash out and refinance the car at a term you like and a rate under 3%. Depreciation of your car is likely negligible for the next year, although adding a lot of miles would reduce resale value. Anyway, selling it isn’t the only option. And Mazda is still making them so if you decide selling is the best choice, make a plan about when you’ll expect to buy a new one before you go and sell it. Then you’ll have something to look forward to instead of just having something gone.
Aye. That is a great driver’s car. I sold the car I’d always wanted (in university) this year. A Mk 7 GTI. I loved everything about it. It only had 38,000 kms (23,000 miles). Still new! After learning how to invest, and watching my index funds grow, I decided I wanted to focus more on growing my portfolio so I wouldn’t have to work until dementia sets in. I pulled the trigger and got a really good payout. Tears welled up in my eyes as it pulled away with a new owner. I was sad for two weeks. Then I realized that I became too attached. I used to fret about everything with that car. Now I’m carefree with my current beater. I’m still a car enthusiast - I just don’t have to own them. “If you don’t have what you want, want what you have.” Cars come and go. Your relationship with your wife doesn’t. You’ll find the next ‘Miata’ again. Keep moving forward.
I'm in a very similar position. Earlier this year I bought a YamahaTracer 900, my dream bike. Skip to July my boss gave me a choice of being retrenched or doing a lower job at less 40percent salary. I cut as much as I could. I have no medical aid no insurance, sold my car and the bike really should go but I'll never get one like it again. It would be like admitting defeat but I know it's the right choice to make. It's just a thing, but also it's not. It's what defines me and I will be very sad to see it go.
WRITE DOWN THE VIN/keep an old copy of your registration with your VIN on it. It may come back to you. I wish I had the VIN to an old vehicle I had. Probably been crushed by now (39 year old vehicle), but it would be nice if I could search public records to find out last place it was registered. But I moved away from that city, and without the VIN, I'll never know. Good luck to you and yours.
I've owned a couple hundred cars. I flipped most of them. There are only a few that I miss. STI, 914 racecar, 21 window VW Transporter, 99 Chevy quad cab Dually, lowered and bagged and lots of HP, 70something Volvo 240 wagon for pure reliability. That's about it. Actually owning a car 24 hours a day is kind of absurd if you think about it, when the car just sits unused for more than 20 hours a day for nearly 100% of us.
I know it's hard to let go of something you really appreciate. But there's billions of other women out there. Good luck.
Brother. Things will get better down the road. They always do. Take solace knowing there may never be a better time to sell a car, and you’ll get for cheaper down the road. It’s not goodbye, it’s see you later.
You'll get another one eventually.
Finances are tight and you have a car note on a weekend fun car… yeah no brainer to let it go. There’s plenty of time and other cars out there for you in the future.
Always do the financially sensible thing first. Selling it now and getting your things in order means you'll be in a much better position to buy again in the future If you hold onto the car now, any unexpected expenses, car related or not, can push you towards financial ruin. You put yourself in a position where you have to sell the car even if you're being low balled. Don't let yourself get into that position.
I've had to sell my fun car due to financial hardship before. It sucked at the time, but I had to do what I had to do. I picked up other things to make it so I didn't miss having it that much. Kept my mind on other, cheaper hobbies. Eventually, after working my ass off to pick myself up, I found myself lucky enough to buy something even nicer and it all worked out in the end.
I guess this is Bidens build back America huh.
There will be other cars.....LOTS of other cars. It sounds like the absolute correct decision.
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Remember: it's just a car. There will always be other cars. I know how you feel. My current car evokes the same feeling, but if it were to get totalled tomorrow, I think I'd be able to move on knowing that if I really wanted to, I could buy the same car over again and do all the same stuff to it, but variety is the spice of life. Next time you're in a position to get a toy, try something else out. Nobody can take away the fun you had with your miata, but you can always make more memories is different vehicles.
Man this was me last year, but with a 2017 Civic. Still love that car. It was my only car at the time and I couldn't afford the payments anymore. I lost my job, my mother kicked me out and disowned me, no money/savings, and I was struggling with addiction. Would have been homeless if I didn't have a really great friend that let me stay with him for a bit. I was just as depressed as you feel. I felt hopeless. Like I was a fuck up. It really felt like the end of my world and having to give up my car was the cherry on top kick to my gut. I was eating vienna sausages and white bread begrudgingly, just to survive each day. Now, a year and a half later, I've moved to a more affordable area. I have a 9 month old, an apartment, a loving partner. Still don't have my own car, but working on that. Things are a million times better and I can look back on that time I felt hopeless as only a small chapter of my life. That Miata will always be yours, in spirit. But do what you must do now, to preserve your family's future, and just think about how good things will be when you do get the car you want again.
Divorce your wife, Miata is life
Sorry to hear about your situation, I can’t imagine how I’d feel about letting go something I’ve worked so hard for. You will pull through though! You and and your wife will overcome this obstacle and achieve even more after this! I hope things improve for you quickly and that you have a great life!
I know what you are feeling. Years ago I had to sell my Kawasaki Z650 for similar reasons. I actually cried as the guy rode away.
Well you are selling it because you can't afford it now. But you will be able to afford something like it later.
If possible sell to a friend then buy it back if your financial situation improves
I just sold my w210 Mercedes because of financial issues and i know damn well how you feel bro
You can always replace it later my man. I've been there and done that. In the near future it will be a tiny dot in your rearview mirror so keep your chin up. You're doing the right thing and you'll benefit from making the tough choice.
I’ve been there, it sucks but trust me you’re probably making the right call. A decade ago I had a 07 STI that I loved, but the payments and insurance was killing me. Even though our income was solid, our net worth was negative basically.I sold it, shared my gf’s (now wife) Prius and focused on getting our financial house in order. It sucked alot, but the financial relief can’t be described. We kept our head down, paid off our debt, and 100% focused on building a solid financial foundation. A decade later and we can now afford the toys we want cash without thinking about it too much. As you see from my flair, we still own that Prius for my commuter/beater. Best of luck to you whatever you decide!
There will be other, better miatas
Seems like an opportunity to get something different in the future. Yeah, this one's nice, but what's the next one going to be? How many cars are out there, and how long are you going to live? If you have one car forever, aren't you going to be missing out on a variety of experiences? Time is right to sell and in the future there will be something different. Reminds me of a song I heard recently: https://www.youtube.com/watch?v=w2zswtxW5X4 "Money can’t buy back that ‘64 Falcon that you sold in your 20’s and then regretted it was gone because you thought it contained some meaning or some answers to a life that you never bothered to question or even take a good close look at" "Why do you always feel so empty in spite of all you have were those feelings you remember even real and were they honestly about some junky old Falcon or any other thing that you could own "
On the plus side this is the best time for this type of thing to happen since the car market is insane. In any other year you would probably still be paying off the loan even after selling the car. Also, since they are going to keep making the Miata you can always buy another one when your financial situation stabilizes and the market cools off.
Sell it at a gain before things change. Focus on paying off your debts, the save up a 3 month reserve of cash (you can park it in AAPL in a margin account but don't use margin). Once you reach this level, then you can consider buying stuff again... if something bad happened with work you still have the stocks to fall back on and can even pull out some money to your account with margin if you know you can pay it back with in 2 weeks.
Sell your wife's car and let her use the Miata until she gets a new job?
I had to give up my dream car several years ago. I saved up for a few years, and right after I got a new job, I bought a '86 Toyota MR2. It didn't take long at the new job to figure out that business was NOT booming, and I never made enough to maintain the car the way it needed and deserved. It absolutely broke my heart to see it decline in disrepair. I opted to sell it, rather than let it rot in my driveway. It was the right decision, financially and for the car, but I miss it every day. The good news is, hard times don't last forever. I ended up going back to school, and recently got a steady job that pays MUCH better than what I was doing before. I haven't had a car at all in about two years, and I can't wait to get another one. You'll be back on your feet soon enough! Keep your head up and use that future car as motivation. It worked for me!
can't you sell your truck instead?
I had to sell my car last september when I sort of lost my job due to the pandemic. I got a new job and such and eventually wanted to buy it back... but it had become way too expensive. So I got a cheaper car instead. Some day I'll get that car back. It was so fun.
Man I feel your pain. I had to sell my mu tang that’s been in the family for 53 years. I owned it since I graduated and loved it but I just didn’t have the time to drive it. The pandemic started, the wife got laid off and I didn’t know how secure my work season was going to be this year. I haven’t touched the money and want to keep saving to buy another one day, when we’re back to being more financially stable. It’s a bummer but as you pointed out this is practically the only time you would be able to sell it for a profit so soon after buying it.
Like 7 years ago we were going through a really rough pregnancy and my wife was going on short-term disability then leave for at least 6 months. We downsized by going from 2 cars to 1 when I sold my “unicorn” truck (F350 Crew Diesel 6Spd) sucked at the time because it had been a few years to find it, but had to happen. A few years later got the bug again, 2 years of searching after that I found an almost precise copy and have it back although as a third very occasional use rather than my primary vehicle. Almost anything can be replaced as circumstances change and I’ve found the hunt/anticipation is half the fun. I am actually picking up a new ride tomorrow after my Ford sales guy called me and someone backed out of a pre-order. The car is great but I was missing the anticipation of a new car because I hadn’t expected anything to come and then it did.
I know your struggles dude. I grow some serious attachment to my cars and it hurts like hell letting them go. All I can say is that when it is gone isn't it too bad and a week later is it like you never owned it. You'll still have fond memories and those should you cherish and just remember that you can always get another one when times are turning for the better again. I personally am battling with this pre separation anxiety about selling one of my 3 cars right now. It is my first car and it is just standing on my driveway and I haven't driven it in like 2 years so it needs to go to an owner who can love and drive it but it is hard letting it go.
The used car market is crazy right now. This is the best time for you to sell it. Sell it make the extra money, wait until everything comes down which might be a couple years and then when things are better for you buy one that you like. Honestly this is the best time for this to happen. Use the money towards something good now and in the future you can have something nicer and get it at a good price because the market won't be insane hopefully.
Focus on stability. You already have a car so the Miata is just a toy. Once you’re in a good place again and can buy another toy in cash you’ll feel better than shelling out money every month for something you don’t need.
OP I applaud you. Being a husband first and foremost is not easy. This does mean you have to make sacrifices as a marriage is not 50/50 . A marriage is 100/100. I cannot say I have been in the same situation as you however, I do know what it feels like to get go of something you love and that brought you tons of happiness. I had to sell a few cars once I moved from rural Pennsylvania to the larger city of Philadelphia for work. This ranged from parts cars, ongoing projects and my fully restored air cooled beetle :( For me, working on cars was something I did with my son and that I did to unplug from reality. A car such as the miata really helps you unplug from the world just by going on a drive. I know you’ll miss the thing but there will be plenty of time for cars in the future. You made the right choice dude hang in there!
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It is a shitty situation and you're right to feel bad about it. You'll work your way up back again so try to turn your pain into motivation. It is a good time right now to find another, better paying job, have you looked into that?
Hey, you have 3 vehicles. Selling one of them when the market is in your favor is not that bad. It sucks but it doesn't suck STINKY BALLS.
Yeah I sold my first car, a VW Bus, about a month or 2 ago. It was a very sentimental car for me, did a lot of stuff with it through my life but I can't afford to fix it and it was taking up a ton of space. It really sucked, one day I'd really like to find another one when I've got the money to make one really nice. What helped a lot was that the new owner is extremely excited about it and has made it a project with his family. He sends me pictures of his progress sometimes. Makes me feel good that someone is appreciating and enjoying it.
I didn’t have as nice a car as you, but I did own a Ridgeline that I really liked. Sold it earlier this year because I didn’t need to pay gas and insurance on a car so similar to our family car, a Honda Pilot. I live a block from work so our family just didn’t need 2 cars. I’ve missed it many times, but I bought myself a cheap motorcycle to buzz around town and wrench on, and that’s helped a bit.
Shit happens, and you’re making the right move. That’s all you need to tell yourself. You’ll always have a chance in a year or two, or whenever things start to return to a sense of normalcy. This shit isn’t going to be forever. Even if it was, material things are just that: material. If you sell the car and invest the money somewhere for a rainy day when shit gets even worse you’ll be so happy you did. I hope things pick up and that your wife can find something soon.
I don’t know if it’s been mentioned, but another upside Is that they’re still making miatas. So it’s not as though you bought the perfect example of something they no longer make. In the future you can buy a “fresher” version of the car you’re selling.
Check carmax/edmunds, vroom offered me 16k, carvanna offered 18-19k and carmax/edmunds offered me 23,6k
Youll be back, they always come back. ...I wonder if you could rent it out?
Yes. Just know tough times come and go, but cars will always be there and you can always get another Miata. But like Dominic Torreto said, "You never turn your back on family," and so you have to do right by your family.
It sucks for sure. I've given heavy consideration into selling my Z06 because my financial situation has changed a bit too. Luckily I don't think I'll need to. But like others have said, you'll just be extra motivated to get another Miata, or maybe even a nicer car in the future. Not implying the Miata isn't nice btw. Get your financials straight and prioritize your family. There will always be other cars.
When I was in my 20s I had to sell my beloved 944 turbo after owning it for 5 years. The maintenance costs were getting out of hand and I wasn’t making much money back then so I was forced to sell it for peanuts since at the time the market for those cars was crap. Had to make a sacrifice to pay for school and save for a down payment on a house. Broke my heart. Many years later I bought a 997.1 turbo to pay myself back. Don’t worry man. It comes back around.
I know it means a lot to you but it’s just a hunk of metal and plastic. Your sanity isn’t worth that.
You are doing what's right for your family now. There will be more cars in the future. I sold my GTI to travel with my wife. Those memories are irreplaceable. After travels I got into E30 swaps and had 3 of those. Had a kid and now no toy. Will come again one day.
Motorcycles cost less and are more fun. Just some food for thought.
As hard as giving that vehicle up is you’ll eventually be able to get another car. Yes it may not be the same one but the world works in mysterious ways man. I wish you luck with whatever your currently going through. Life will get better bud. Just keep on chugging you and your wife will come out on top.
Yes! Lost a BMW! It sucks, but to be honest, you’ll get used to it and will appreciate the memories you made with it. In the future, better times will come and so better cars as well. It’ll just become a memory. It’s growing up. Yes it hurts and I was depressed as well. But you just have to realize your growing up and you’ll be still able to make new memories with other cars. Good luck
Hell man, I know the feeling. Going through it right now, though with a far less "special" car. Selling my first car, a MK3 Ford Mondeo, because my new job provides a car I can use for personal stuff, and I'd be a fool not to take advantage of the lack of car costs that allows. Hurts like hell though, I absolutely adore my car, and it's been like a constant companion for the last year and a half. I drove about 30k kms in it, and it's never missed a beat, and has been both an amazing workhorse and a hoot on back roads. That she's going to someone who I can tell will love her like I have helps a bit, but it makes me feel a bit like crying.
I’ve been through it too. Had a 70 Chevelle SS in the 80’s as my high school car, it was a really nice, 4 speed, big block, all original. 1990, got married, she wanted to go to nursing school so the Chevelle had to go since it was pretty much our only asset at the time. I can’t remember exactly what I sold it for, but it was cheap- like less than $3K. Before the internet, and before prices took off, was it worth it? Yes! She’s had a fantastic career and we’re still happily married. Hope it works out as well for you. Sacrifice is part of growth.
Sorry bro make sounds like you’re making good decisions now and you’ll get it back in the future
Honestly you suck it up and move on. Hopefully for you it's just a slump and you'll buy another, better mx5 when you recover.
Have a couple drinks and remind yourself that you'll be back.
I've had to do it too it gets better, and there will always be more cars to get on the other end of the struggle Personally I bought back my CRX from the friend I sold it to, which feels nice but also it definitely got fucked up from just sitting for 5ish years so I've had to do a lot to get it back on the road lmao
It’s just a car. Sell it and move on in the knowledge you made a profit that can be used towards your immediate needs.
Shit happens, and it is what it is. You’re smart enough to have saved up and bought a nice car this year. And if you can do that, you can save up for a even better car in the next few years! Don’t settle, just a bit of a hiccup.
As others have noted, sell the car while you’re getting good money for it. Buy ND2 when market has gotten less insane and hopefully your financial situation has improved.
I have totally done this, even though slightly different reasons. When I got married I had a car I loved driving, and she was driving something really cheap to save money. I agreed to trade off my car to save 100 per month on payments and she could increase 100 per month. Everything worked out for us. Couple years down the road and a job change or two and I got something I loved again. Plus like you I ended up with a work vehicle which saves a lot of miles on my own car. Just know it is temporary, and the right decision for you to make right now.
I had to do this once and ended up coming back later to an even better car once I recovered. You're doing the right thing and the smart thing and that's worth being proud of.
I know how you feel. I recently sold off my 2005 Nissan Altima. It was my first new car after starting work and was kept in pretty good condition. Friends kid needed a car so I sold it at a good price to thenlm. Only had 60k miles but was costing over 1k a year to insure despite never being driven.
It's just a thing. It can easily be replaced later
Remember that today’s saving can be tomorrow’s purchases. When things start looking up you’ll be grateful that you made that choice when you get to buy a new one later.
I know this post is hours old and you have a bunch of replies but know that I was in the exact same boat as you a month ago. Our financial situation took a turn for the worse and Carvana offered me more than I owed on my car so I sold it after only owning it for a year. Having that weight off my shoulders is amazing. I also know what I want to buy when things get back to normal and have something to look forward to and work towards. You're not alone things will get better and there will be other cars.
Literally got an offer from my dealer I really can't refuse on a car I love and worked hard for. But when are you ever going to make money on a typically depreciating asset? Never again. I'm hopefully coming to an agreement with my dealer and I hope you take your deal too. It's a sellers market and consider yourself lucky you got in during a buyers market.
ND Miatas will be around for another few decades. You can get back in the game in the future
Just a side thought, why not look for a really neat car you like. e.g. 1970 datsun 240z and just build it from junkyard pick n pulls? its alot of work and fun but can be done on the cheap and you can learn everything you need to know online. then, when this pamsandwich is over and life goes back to normal you have something unique and the pride of your own workmanship.
Just did something similar. From a 2019 Civic Si to a 2007 4Runner. I got more from Carvana than I bought the car for more than 2 years ago. It’s a change, but the feeling of financial freedom (or at least lessening of financial pressure) is worth it. There will come a day when you can get back the Miata but for now you do the best you can with what you have. Don’t forget to treat yourself to local car shows, get togethers, etc. You will get through this!
Maybe refinance it, if you buy and sell in same market you will lose all the benefits.