Ok, Decision Time.. 335?

[Naz24]

I LOVE my X5, but damn the repairs are starting to get annoying. 110k miles in perfect condition.

I figure i can get around 13k for it retail, probably 9-10 at auction.

I see deals out there to lease a 335xi for 399 a month with around 4k due at signing. SO selling my X5 would cover me for the next couple months in regards to down payment and monthly payments... Now, i am graduating in the spring, and i have just signed a full time offer at a very prestigious company

Am i stupid to think of selling and get a new car even before i start my job? I will be living at home and will save a TON on rent. Or should i keep the X5, save up for an M3, or even a house!

hmmmm....

[TerminatorX5]

house!!! and a toyota corolla!!! lol... just kidding...
don't make any moves until you have reported for duty to your job - before that it is just an offer, nothing more....

[jcp240z]

Agree. Until you start, nothing is absolute (and even 90 days after that ��)
Also, do you really want to lease?

[Naz24]

I'm not a lease type... but at my age to finance would be tough. and to buy out right would also be tough.


I do own my X5 outright..

I'm just looking down the barrel at my repairs for the X5. who knows

[TerminatorX5]

if you lease, check out bmwconfig.com, get euro delivery invoice price, and negotiate the lease from euro delivery invoice +$1000... you will get the same residual as if negotiating from MSRP, but save a ton of money, get one lease payment paid by BMWFS while car is in transit, and get a euro vacation out of deal, with 2 airline tickets for the price of one. do it in the summer, so you don't need the winter tire rentals in germany... on an m3 it could be $5-7k savings

[epdarks]

Everything is for sale at the right price so it doesn't hurt to list the X for above market value and sit on it.

You are in a transition time of your life, dropping big coin on a newer BMW could backfire if life doesn't work out as planned.

Once you buy a house you will realize how superior of an investment it is compared to leasing a BMW. Do you want to live at your parents house and drive a fifty thousand dollar car? $400 is a good way towards a mortgage payment, and over 3 years that is over $14k invested in a car that you have to give back.

Repairs getting annoying is not a good enough reason to sell, IMO.

[DTMdan]

Although extremely fun cars, I personally wouldn't own one. I was told by an employee (acquaintance) at my local dealer that the N54 is a nightmare outside of warranty. He said they were always coming in for repairs. And they're not cheap, my friend was lucky enough to find one with an extended warranty and right before it was up he had them service it... they had to replace his turbos and bunch of other parts that was (I think) around $8,000 after everything. I honestly don't think that the maintenance would be cheaper than the X.

[motordavid]

Naz, good on the graduation and very good on the job situ...ok living with your 'Rents,

Will you be driving for a commute? Long tough commute, eg NYC or somewhere in NJ? Airport runs? Out and about driving your car selling stuff?

Not being nosey, but a drive to 'the office' and home at night is a diff than busting into the City, or driving all over the metro NY/NJ area during the day.

I agree with prev posters and tend to suggest holding off on a new lease until the dust settles on your new gig in Spring. Barring calamity, your current X will still be worth about what it is now; once settled into work you can decide from a more rational base of circumstances, imo.
GL, mD

[Ricky Bobby]

Nazario,

Think about it this way, if you were to make the big repairs necessary to get another 50, 60, 70k miles out of it, you would still own your car outright and not have any debt besides repairs. This enables you to save double, on the rent you are saving living at home for the time being, and on the car payment.

I was in your shoes just 5 years ago, and I'll be honest, if I had a car payment out of college at 400 a month (and on a car to lease no less) I wouldn't have been able to rent my condo for 3.5 years before buying my house, Jersey expenses are just too much and yes my budget was that tight.

I also say no to buying a new car in anticipation of starting your new job, thats almost like counting your chickens before they hatch. Who knows, if you work there for a year or two and get some promotions, there may be some company car incentive for you? Or you may get a good enough raise that you can really start putting money away to save for a house.


Trust me, our generation has most of it all wrong. I know countless guys who are on the cusp of turning 30, still live at home with their parents but are leasing a new car every two years and have no money. Trust me, its better to just keep what you already own in pristine condition as long as you can (and you know the X can age very gracefully), save the extra money for a house in the future. Most of my friends are struggling with affording a house, because they spent their early 20s with all these rewarding indulgences after college, and partied their asses off.


Think about it, you live in a nice area and I'll give you an example. Lets say my house cost between 300-400k for example, I live 20 mins from you. To have the 20% down payment, you need to save up between 60-80k, in addition to closing costs, and any house repairs. You could be up to 100k before long.


How long does it really take to save that much money though? A while, trust me. Getting into a long term car payment or into the cycle of leasing every few years just makes it a little tougher.


Personally, I sold my 2008 Volkswagen in pristine shape with 48,000 miles that I bought brand new out of college, so that I would be able to have more money with the house, and kept my X5 because I knew it was more practical for driving every day, going through winter etc.

Think about it this way, even if you did need a major trans repair or engine repair, say at 5k, if you do that over a 400 a month lease payment, that is the cost of LEASING a 335 for ONE YEAR. A major repair like that on your X could keep it on the road for the next 3-4 years or more before another major repair.


Hope that helps, text me if you need more advice bro


P.S. The thing about new cars, the deals are always there, but the sales mindset is that "OMG this great deal could be gone if I dont act now!!". The 399 lease deal wont be going away, so you have plenty of time in the future if you decide the lease is the route you want to go down.

[HPIA4v2]

Naz,
can't say about saving for home, cause I don't know your financial situation and this is car forums not CPA forums.

I wouldn't buy BMWxi non SUV, I own 335xi coupe so I am qualified to say that. The suspension is not sport even with sport package (it sits high), no stagerred tires setup. if you can wait for F30 M3 or the coupe version of it. from what I read it'll behave more for daily driving being 3-turbos, high torque and still rev high if you want.

As far as lease, make sure put down 7-month safety deposit to lower money factor. and if you total the car during lease time you got all deposit backs, not like down-payment.
Also I think BMW has up to $3500 holiday events right now.

At last all x35 model engine by BMW is no longer N54 (unless it's 335is or Z4), they are now N55 seems to be more reliable albeit less tuneable; but hey you lease so who cares if engine will die after waranty (can't lease pass waranty).