How Long are You Planning to Keep These Cars?

[syncrocrick]

I think the real question is if they will become collectible one day...right now the market value on these is hitting rock bottom so it could be time to stock pile them if you had the space...









If you don't work on them, they become very expensive really fast. I have done a lot of work last year, and now I have a new series of problem to address (radio died, paint is flaking on the hood and roof, Xenon headlight are totally oxidised, etc). It is really hard to justify spending more on the car than it's worth, but I am okay with it for now.



I will most likely keep mine and keep maintaining it slowly over time, but I doubt that it would be my daily driver if I had to drive every day to work.

[dkl]

Originally Posted by syncrocrick

It is really hard to justify spending more on the car than it's worth, but I am okay with it for now.

Not that difficult for me to justify, really. Even if I had to spend $2k per year in maintenance (rarely the case, BTW), I'm still ahead of a new car payment. Besides, I don't plan on selling it anytime soon, so who cares what it's really worth.

[crystalworks]

Originally Posted by dkl

Not that difficult for me to justify, really. Even if I had to spend $2k per year in maintenance (rarely the case, BTW), I'm still ahead of a new car payment. Besides, I don't plan on selling it anytime soon, so who cares what it's really worth.

I'm of the same mind. Some years I spend a few hundred and others a few thousand (doing work myself). But to buy a used luxury X5 (or other brand luxury SUV) with a warranty would cost $6000-9000 a year.

The payback from owning these cars (and especially working on them yourself) comes during ownership, not necessarily at resale like it does on Toyota, Lexus, etc vehicles.

[Fifty150hs]

Originally Posted by crystalworks

I'm of the same mind. Some years I spend a few hundred and others a few thousand (doing work myself). But to buy a used luxury X5 (or other brand luxury SUV) with a warranty would cost $6000-9000 a year.

The payback from owning these cars (and especially working on them yourself) comes during ownership, not necessarily at resale like it does on Toyota, Lexus, etc vehicles.

+1

I've been driving and wrenching on my X since about 2016. Even with costs for full suspension refresh, brakes and CCV and a variety of other repairs, I couldn't be driving a BMW. It's in good shape and I keep making it a little better as time goes by. No it doesn't have all the modern bells and whistles, but I'll get close soon when I replace the head unit.

[X5only]

Originally Posted by crystalworks

I'm of the same mind. Some years I spend a few hundred and others a few thousand (doing work myself). But to buy a used luxury X5 (or other brand luxury SUV) with a warranty would cost $6000-9000 a year.

The payback from owning these cars (and especially working on them yourself) comes during ownership, not necessarily at resale like it does on Toyota, Lexus, etc vehicles.

One thing I do to keep costs in check is to buy all my maintenance items (genuine BMW OEM or aftermarket) from FCPEURO due to their lifetime replacement guarantee, in which you only incur the cost of return shipping when a part needs replacement either due to wear and tear or breakage, no questions asked as long as you bought the part from them. Even oil and brakes are covered. It's as simple as that.

[crystalworks]

Originally Posted by X5only

One thing I do to keep costs in check is to buy all my maintenance items (genuine BMW OEM or aftermarket) from FCPEURO due to their life-time replacement warranty, in which you only incur the cost of return shipping when a part needs replacement either due to wear and tear or breakage, no questions asked. Even oil and brakes are covered. It's as simple as that.

Yes, I do the same. With everything but consumables anyway. Don't want fcp to change the policy.

[X5only]

Originally Posted by crystalworks

Yes, I do the same. With everything but consumables anyway. Don't want fcp to change the policy.

I agree, although they insist they do cover consumables and will gladly replace them and provide instructions how to send them back, such as engine oil. But I find it a bit too much to send used oil and such back to them.

[wpoll]

Originally Posted by syncrocrick

... It is really hard to justify spending more on the car than it's worth, but I am okay with it for now. ...

I think it's EASY to justify spending more than it's worth (if you sold it) - if that sum is still less than a better replacement vehicle would cost you.

I consider "than it's worth" to mean it's worth to ME and that's a different number than the open-market resale value.