To Trade or not to Trade

[jcannizzo]

My 2003 X5 3.0i currently has 147,850 miles and requires about $1,200 in maintenance, replacing thrust arms, bushings etc, oil filter housing gasket and rear diff seals.

Looking for some feedback on whether I should complete the repairs or just trade it in on a 2009 X5. It has been a good vehicle to date only requiring minor repairs and maintenance so far.

All feedback is welcomed.

Thanks

[mark scheurer]

Crunch the numbers.

Your car is worth probably $6k trade-in at the dealer. Maybe less. New car? You didn't say, but probably $30k after taxes, fees, etc. Could be a lot more.

So are you willing to shell out 25 grand minimum for a newer car? What do you get? Looks better? Depends on your opinion. Smells better? Yeah. More reliable next 2-3 years? Yeah, likely.

If you have money to burn, go for it. If money is limited and there's other things to spend it on, you might consider keeping your X5.

Worst case scenario, it will need major stuff next 3 years, including transmission rebuild. But unlikely you'll put more than $10k into it, thereby saving yourself something on the order of 20-25 grand.

These calculations assume you can pay for the new car in full (no finance/interest money down the drain) and also does not include the increased insurance costs that come with a newer car.

[recklessspyder]

I keep thinking about trading mine in spring....an 05....then I think to myself. Why would I want a car payment or take that much money out of savings? but the devil keeps whispering....4.4 turbo 4.4 turbo

[Isambard]

Like Mark said, it depends on whether you like having your trousers pulled down or not..

[motordavid]

Many posters here seem to get a new X/new car every couple three years...
I tend to keep ours for a decade+, but that's us, RetiredBums.

~$1200 to keep your car that you know, running, and seemingly running well or,
$25-$30Gs cash, or a few years of payments, for that 'new' '09? I know my choice, but everyone has their own needs, desires and budget.
GL, mD

[mike_dmt]

I've had this conversation a hundred times with friends and family over the years. I was in the car business for almost 8. Ick.

Anyway, I agree with the above posts, if you want and can afford a newer one, great.

But, if the investment of just TWO of the payments on said newer vehicle would get yours back in shape, that leaves the next TEN payments over the space of the year to invest elsewhere. Say it's $600 a month. That's $6000 in your pocket. Granted you might spend some of it on other maintenance issues, but still, it's six grand.

Or if money isn't the problem, why settle on an '09? Get a new one. No more repairs out of pocket at all.

[RickM5X3]

Originally Posted by recklessspyder

I keep thinking about trading mine in spring....an 05....then I think to myself. Why would I want a car payment or take that much money out of savings? but the devil keeps whispering....4.4 turbo 4.4 turbo

Same thoughts. I agree that the only way a new financial undertaking makes sense if it is one of the V8 turbos - N63 or S63.

[Ghost-Flame]

Spend the 1200 in reairs and maintenance. You will still have a great car and no payment.

I have the same mileage as you on my 02 3.0. I just did all those repairs and it feels like I have a new car. It is definately worth it.

[jcannizzo]

Thanks for all of the input. It looks like it will be going in for the oil filter gasket this upcoming week as the leak is getting worse.

[sshu]

I would also consider what maintenance items are coming up. If you have a lot of wear tear items which needs to be replaced soon you may want to cut your losses. I recently done a inspection 2, put on new tires, front and rear brakes, and new battery(some of these items were covered by the dealer just before the maintenance warranty so I lucked out) so I'm ready to keep this car for another 2 years.