Quote:
Originally Posted by sd_boxster
I realize that these first 2 years of maintenance items didn't cost me anything, but if they're an indication of repairs I may expect once the warranty expires, I'd rather cut and run. I have an '03 Porsche and a '96 Corvette; the combined repairs for BOTH do not equal what my X5 needed in its first two years of service.
Today was the first time in my life I have traded a car after just two years of ownership. Driving the X5 for two years cost me just $11K (purchase price less what I sold it for)... still enough to pay cash for the Murano and bank nearly $10K. Had I held the X5 for four years and tried to sell it after expiration of the warranty with twice the mileage, this definitely wouldn't have been the case.
Makes sense to me.
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Cost in 2009: 65k
Trade in value 2012: 45k
Cash Back in 2012: 10k
Car value in 2012 $35k
Car Value in 2014: 20k
So net you will take 65k....pull out 10k and have a car with a value of 20k in 4 years. Costs you 35k. (never mind time value of $$)
Had you kept the X5 you would have a car worth X at the end of 4 years. You are positing that the BMW will drop to under 30k? Keeping in mind you or the buyer can add a 100k warranty for $4k.
Hey, these things are- at the end of the day- emotional decisions. I never get 'scared' about repair costs as I can exercise control of them- and at the end of the day a 10 or 20k bill isnt the end of the world. Yes, surely piss me off- and never had to pay one... but it allows me to make decisions that aren't overwhelmingly driven by fear of a bill. 'fear' and not 'risk'- if a risk is 10%, you can perhaps risk it- but if a risk is 2% yet you just cannot accept the exposure, you fear it and avoid it- and usually (not always) pay more.,
Best of luck-
Oh, you should post your vin along with the work done as a way to pay it forward....
A