The Used E53 Odyssey - Replacement after Total Loss

[upallnight]

Originally Posted by PR1AWRet

Paid 5K for mine knowing about the "LITTLE" things wrong with it. Loved the green/gray and new sand interior. Drivers seat had some wear. 5K later it's solid, parts not labor.

So for 10K you now have a 15 year old car that is probably worth 5k or less.

[crystalworks]

Originally Posted by upallnight

So for 10K you now have a 15 year old car that is probably worth 5k or less.

But it feels better to drive than any other 15 year old car in the $5000 price range... there is a lot to be said for enjoyment value vs. actual monetary value. The heart wants what the heart wants. If he drives it for 5 years it's paid for itself in terms of savings over buying a new $10,000 econobox car (plus whatever interest would be paid on the loan if financed). And, let's be honest... even most things in the $20-30k range offered these days aren't as fun to drive as a well maintained E53. Some will be more practical, most more reliable, most less attractive, all more expensive, etc.

Originally Posted by dannyzabolotny

Properly maintained, these go past 200k miles easily, especially the 3.0-powered ones. I have a 4.6 with 214k miles, and aside from having to replace the chain guides/valley pan/OSV I haven't really had to do too much. My total cost for all that work was $800 because I did the work myself.

What made you want a gray interior though? In my mind that's the least attractive interior color, haha. Black always looks more modern and it always looks clean.

The V8 powered X5's definitely seem to be more expensive to maintain for even a seasoned DIY'er. For one of my kids, it would be an M54 powered truck as well. And I disagree on the grey interior. Black is good, grey is okay, sandbeige least desirable (the base faux leather, not the nappa), and truffle is best.

[PropellerHead]

Originally Posted by upallnight

So for 10K you now have a 15 year old car that is probably worth 5k or less.

Anyone can place a dollar value on a car. No one can tell you what it's worth.

[X53Jay4.8is]

Originally Posted by PropellerHead

Anyone can place a dollar value on a car. No one can tell you what it's worth.

Yes some people fail to factor in "marginal utility"

[upallnight]

Originally Posted by X53Jay4.8is

Yes some people fail to factor in "marginal utility"

Is that like Alternative Facts???

[PropellerHead]

Originally Posted by upallnight

Is that like Alternative Facts???

It's something we learned about in school. If anyone didn't, LMGTFY

In economics, utility is the satisfaction or benefit derived by consuming a product, thus the marginal utility of a good or service is the change in the utility from increase or decrease in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that the first unit of consumption of a good or service yields more utility than the second and subsequent units, with a continuing reduction for greater amounts. Therefore, the fall in marginal utility as consumption increases is known as diminishing marginal utility. Mathematically, MU1>MU2>MU3......>MUn. The marginal decision rule states that a good or service should be consumed at a quantity at which the marginal utility is equal to the marginal cost.

[X53Jay4.8is]

Originally Posted by PropellerHead

It's something we learned about in school. If anyone didn't, LMGTFY

Yes a business school economics thing. Nice Prop