Unless I hit the lottery or triple my salary, Id never buy a new BMW. The depreciation is crazy. I've only been in my X5 for about 10k miles - but I knew what I was getting into as I have the same year model E38. For me, its a 540 on stilts, I love driving it. The 4.8 is even more fun! To me it comes down to the level of excitement behind the wheel. Sure, I could go buy a Toyota, but it will never handle or feel like a BMW. Nor should it. I got lucky with my X5 purchase, as it came from a friend and I paid $1k for it. Ive put about $4k in it because I wanted to, and I know it will reach 300k. the transmission might not, but who knows. Thats a crap shoot.
No regrets, title in hand = I'll gladly throw a few parts at it or even a major repair here and there. In the end its cheaper than any new car ever will be. Cars are for the most part the worst investment ever, sunk cost - but I am mostly smiles driving either my X or my 7. It's just a game.
