Keep or Trade: 2011 X5 3.5d

Crash513 · #1 05-11-2016, 01:17 AM

Hi all - Need some inputs here. I realize this is a first world problem, but I am conflicted about what to do with my BMW!

My 2011 is coming up to the end of it's BMW select contract in December. For those of you who are not familiar with the select program, it functions essentially like a lease with a predetermined payoff (balloon payment) at the end of term. The original MSRP was around $74k and my select payoff is $22k. Right now, the KBB value (based on "very good" condition and 55k Miles) is $28k for private party sale, and $23 for dealer trade in (I know, it's just an estimate, not necessarily what I will get for it).

Herein lies my dilemma. I could pay the car off and then turn around and sell it. I'm not looking to make any money flipping it, but this IS one option. Otherwise, I can work a deal to trade it if I make a deal on a new X5. I'm actually planning to replace it eventually with either another 3.5d or possibly an eDrive 4.0. The two dealers I've worked with locally have both indicated that they could at least pay off what I owe in a trade without rolling over any negative equity.

The last option is that I pay it off and keep it, at least for now. this has been by far the best car I've ever owned, and I really wouldn't mind buying it outright and keeping it for a few more years. My wife is concerned about keeping the car after the extended platinum service plan expires. She's probably right about this since we all know BMW's are factory programmed to blow up a transmission or smoke the Nav system the day after the warranty ends. But I might be willing to take my chances, since the mileage is so low, and I love the car so much.

So, inputs are appreciated:

Who thinks I should keep the car, and why?
Who thinks I should buy it out and sell it off, THEN buy a new X5, and why?
Who thinks I should trade it on a new X5, and why?

Thanks all for your inputs...

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Ozer · #2 05-11-2016, 07:53 AM

You bought it new, you know the car and what was done and any recalls that were performed and so on...Its got 55k on it which is low miles (my 2011 is 116k) Sounds like you have the money to pay it off or maybe get a loan out for it.. I say keep it and get the extended warranty till 100k if you can. You will be saving money and still sell it for decent money after few years of owning it out right.

dalecan · #3 05-11-2016, 08:53 AM

If it's been good to you so far I would keep it.

BGM · #4 05-11-2016, 10:11 AM

Keep it.

fsd350 · #5 05-11-2016, 07:34 PM

I would keep it.

regdfry · #6 05-11-2016, 08:38 PM

I decided to keep my 2011 X5 35d, with the BMW extended warranty coverage to 7 yrs, 100k miles. I like enjoy this ride. . . a bunch. If you like it, keep it.

JCDillon · #7 05-12-2016, 06:21 PM

Quote:

Originally Posted by Ozer

You bought it new, you know the car and what was done and any recalls that were performed and so on...Its got 55k on it which is low miles (my 2011 is 116k) Sounds like you have the money to pay it off or maybe get a loan out for it.. I say keep it and get the extended warranty till 100k if you can. You will be saving money and still sell it for decent money after few years of owning it out right.

Yeah...what Ozer said! Since you really like it, pay it off, get the extended warranty and keep it till that runs out. You would still get decent money when that time comes if you want to sell it then.

Lubehead · #8 05-13-2016, 07:28 AM

Keep it!

My 2010 d is now at 155k. Aside from # 5 injector water issue, which is a design problem and EGR Cooler BS, I have had no significant issues.

Tranny fluid, drive axles and transfer case oils all changed at 75k and 150k, Oil changed at 7500 miles. New rotors @ 80k, routine brake pad changes, and tires.

I configured a 2016 d fully loaded ( around $89k) and just couldn't bring myself to committing that kind of money to replacing a known dependable vehicle. I backed out before actually signing, my thought that even if I spend say $6k a year ( $500 a month) on repairs, it beats the heck out of payments of over $1k for 3-5 yrs.

ard · #9 05-13-2016, 12:46 PM

You have a 6/100 plat warranty, yes? Absolutely keep it through that plan. Another year or two, right?

You will spend 22k now, and get 2 years of driving. (Arguably, depending on inservice date you might only have one year left, and you will be 'uncovered' for a year.)

You are at the sweet spot in depreciation- still a farily new car, doesnt look old...low miles...and the cost to drive is WAY lower than a new car.

Imagine this: Keep and drive it for 6 more years. Pay for any repairs. You will spend maybe 6k a year on one car. The money you save can go toward a silly car- like a twin turbo something.

(I see youve spoken to two locals...hmmm... I have NEVER been able to buy a car from Niello...Acura, BMWx3, Porsche.... their sales is way retail. Fantastic service, but their sales model and me do not get along...)

Crash513 · #10 06-05-2016, 12:05 PM

Hi all. Sorry for not replying to thank you all for your thoughful reply. Last night I got the best offer I've seen yet on a 2016 4.0e from a dealer on the SF Bay Area. Way better than my local dealers have come across with, but even on a 3 year lease with 10k miles/yr and $7.5k down, my payment would still be slightly higher than I would have to buy the car out on a 4 year loan. Based on this, and the consensus feedback from all it you, I think we'll keep her. I figured that kind of cash would go a long way toward any repairs, at least for the first year or two.

Thanks again for your insights, everyone. This helped me a lot.

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