[Marven]

Hi folks,
Just wanting to hear your opinion on this. Just thinking long term here..I've been in a few conversations with a few folks on whether it is better to keep your car for the long term..like 8-10 years...that way you finish paying it off and your driving a pretty decent car without payments
-OR-
trade up everytime the warrenty is over? Some people's point of view is to use the car for the best years and then get rid of it before it needs it's first major overhaul. The downside to this is that you will essentially have car payments or lease payments for the rest of your life...the upside is driving a new car every 2-3 years with no repair bills...ofcourse you cant mod and you are paying a few thousand dollars for delivery, freight etc everytime you order a new car...

Meaning do the repairs and extended warrenty's outway a lower "lease" payment? pls let me know your thoughts...

Enjoy your day!

M.

[tim916]

One of the reasons that I lease is that I hate paying for car repairs. They always seem to come at the most inopportune times. With the amount of gizmos in the E90 I would be very weary of owning it for longer than maybe 5 or 6 years. Imagine what it would cost to replace adaptive headlights or an iDrive system out of warranty.

[KL2DC]

As much as I love my car (and initial quality/reliability) I do not have much confidence in keeping it beyond the warranty period (new car or extended). I think gone are the days where premium paid for near-lux or lux cars mean better materials/longevity, cast-iron construction and overengineered mechanicals (think old school Mercedes-Benzs). The premium we pay now mostly cover contemporary and innovative electronics and gizmos which are susceptible to failures and outdating.

As reliable as today's electronics are, when they go wrong no hard tools and time under a shady tree is going to fix them, not like the older cars.

The other issue is that auto manufacturers now a days seem to bring new and exciting products/facelifts/updates faster and quicker than before. You just feel the urge to upgrade sooner down the road than in the good ol'days where product life cycles span much longer.

It makes a lot of sense to lease BMWs due to their high residual, low insurance and maintenance plan. I see not much of a difference in leasing and trading up every few years. You still lose/spent just about the same.

[vladinecko]

i thought i'd keep mine for years to come but i already want the Z4 Coupe so i'll wait for the warranty to expire and then trade it in for whatever will hot at the time.

[Rocket850]

I haven't even received my car yet but I plan on selling it between 3 and 4 years. From what I've read here and other sites, BMW's are not cheap to fix and I do like to have the latest and greatest technology.

I am in the position to put a very large down payment on the car, about 75%, so I'll have it paid for in a few months. I then have the satisfaction of driving this car for 3-4 years without having to make payments. This will allow me to easily save for my next car.

Not sure if there is a right or wrong answer to this, but I just don't want to be nickled and dimmed to death with a car, I'm already going through that with my VW passsat.

[Rocket850]

Originally Posted by vladinecko

i thought i'd keep mine for years to come but i already want the Z4 Coupe so i'll wait for the warranty to expire and then trade it in for whatever will hot at the time.

Anyone know if the warranty is transferable? How much does it add to the value of the car if you can sell it out right to someone with some warranty left?

[Chuck_IV]

In the past, I had always driven my cars past my 5 yr loan commitments and only then thought about replacing it. However, our last 2 car purchases have been different. I had a 2001 Ford Exporer that needed about $1500 worth of work(new Ball joints, shocks and tires at only 60k). So instead of putting the money into fixing it, we traded it in for a 2004 Dodge Durango and got such a great deal, our payments became lower than what they were with the Ford.

This time around, my wife wanted an AWD car(our driveway resembles this / ) and our 2002 Hyundai Sonata(don't laugh, it was and still is a damn good car) needed struts anyway. So, since we had some extra money(for a change), we decided to look at AWD sedans, thus we ended up with our 325xi.

The warranty time has never really entered into the picture as to whether or not to get a car, only repair bills and/or just the desire to get something new has.

[BK]

Originally Posted by Rocket850

I am in the position to put a very large down payment on the car, about 75%, so I'll have it paid for in a few months. I then have the satisfaction of driving this car for 3-4 years without having to make payments. This will allow me to easily save for my next car.

I guess this is slightly OT, but what are the pros and cons of doing this? As someone who is going to be buying two new cars within the next year or so, a Minivan and (probably) a 330i, I am wondering whether I should put down all or a substantial portion of the price in cash.

Given the immediate depreciation of new cars and the possibility of getting a lemon, I'm wondering if instead it makes sense to put down a smaller amount, finance the rest, then wait to see if the car is a keeper. If it is, then pay off the rest of the loan in advance if I want. Or, I guess the smart thing would be to put the money in an interest bearing account with a better return than the new car loan rate, if I could find something like that.

Anyway, sorry if this is OT... just some ramblings from a soon to be car purchaser.

[E90Fleet]

My cars payed, I never borrow money

Ill sell it in a few years while it still has a good resale value and get something nicer.

What that something is depends on howmuch I have stashed away in the car fund

[Gitta]

I always start out saying I'll keep the car for the long haul, but then I always want a newer model and end up trading after 3-4 years. I guess I like change or I just like all the newer technology too much to hold onto a car longer than that.

[BellasBmw]

I go back and forth with this issue. As of right now, im planning on selling it in about 4-5 years, and then upgrade. However, im 22 yrs old, going through college, i really have NO idea where my life will be in 4-5 years. I could be just starting at an entry level job, and buying a new car,plus rent, bills might not work out for me. So its better for me to keep the car until need be to get a new one. BUT, i know how i am, and i like to change things up, i get bored easily. So this is gonna be a tough choice..

I currently still live at home, so that was a main factor in purchasing my E90. In 4-5 years, i will def be outta the house (actually this summer ill be moving out), and im sure i cant afford rent and car payments starting out. Plus, i should save up for a home or something like that. Sucks!

[govtec]

i plan on keeping any car up until the extended warranty ends or 5-6 years. that way, i'll be ahead compared to leasing. after 5-6 years i should have a good idea as to how maintenance cost is and can use that in figuring out a new car purchase.

[4nroots]

i am the type of person who always wants something new (when it comes to cars at least) and as a result, I haven't been able to keep a car for more than 2 years. However, I don't feel like i need to get the 335i...the 330i is certainly fast enough. I am, however, holding out for the M3 (hopefully in sedan form)

[330South]

I am planning to keep the car for 8 years, I have bought the extended warranty so will be covered for 6 of those years. It would be nice to upgrade every 3 to 4 years but I bought this car with the intent of keeping it in good shape for an extended period of time. Even after the warranty expires, paying $2,000 or $3,000 for a repair is still a large cost savings over paying $500 a month for 12 months ($500 x 12 = $6,000). I bank the savings and buy the next generation 3 series which will probably come out in about 6 or 7 years.

If you lease or trade in every 3 or 4 years you will have car payments forever. I just got out of period of not having car payments for 3 years and it is very nice to not have those $600 payments every month for a good period of time.

[vladinecko]

Originally Posted by Rocket850

Anyone know if the warranty is transferable? How much does it add to the value of the car if you can sell it out right to someone with some warranty left?

i'm pretty sure the warranty is bound to the car, not to the owner. so yes, it ought to be transferable.

[Marven]

Originally Posted by 330South

I am planning to keep the car for 8 years, I have bought the extended warranty so will be covered for 6 of those years. It would be nice to upgrade every 3 to 4 years but I bought this car with the intent of keeping it in good shape for an extended period of time. Even after the warranty expires, paying $2,000 or $3,000 for a repair is still a large cost savings over paying $500 a month for 12 months ($500 x 12 = $6,000). I bank the savings and buy the next generation 3 series which will probably come out in about 6 or 7 years. If you lease or trade in every 3 or 4 years you will have car payments forever. I just got out of period of not having car payments for 3 years and it is very nice to not have those $600 payments every month for a good period of time.

This seems like a good idea, that way you have a few good years without car payments and still a nice car...my last car (see sign) was 17 years old when I got rid of it..

However I did not buy the extended warrenty...I guess I'll have to buy it before the warrenty runs out..my guess is it will be more expensive as it get's closer to the 4 year end...

M.

[06E90Rostik]

I will definately get something else in a year or two.

[mwilli]

I haven't held a car for more than 2 years yet so I am trying to position myself to where the New M3 is out for about a year then I am going to trade the 330i in on it. The coupe 335 does nothing for me, now when the sedan comes out I may change my mind.

[330South]

Originally Posted by Marven

This seems like a good idea, that way you have a few good years without car payments and still a nice car...my last car (see sign) was 17 years old when I got rid of it..

However I did not buy the extended warrenty...I guess I'll have to buy it before the warrenty runs out..my guess is it will be more expensive as it get's closer to the 4 year end...

M.

My dealer told me at the time of purchase that I could purchase the extended warranty for the same cost up until about 20,000 miles, after about 20,000 miles the cost for the extended warranty will increase.

[Marven]

Originally Posted by 330South

My dealer told me at the time of purchase that I could purchase the extended warranty for the same cost up until about 20,000 miles, after about 20,000 miles the cost for the extended warranty will increase.

Thx - by then I will have decided what I'm doing...

[KL2DC]

Marven: I believe you have until the end of the 3rd year to buy the extended maintenance and warranty plans. Be sure to shop around, you do not have to buy from the original dealer....

As for me, I am already itching for the e92 328i (probably in 2 or 3 years max) or if all goes well to add at the end of the year... this time I will do things right (i.e. ZSP & 6MT) ... the wife's gonna have to live with it

[Marven]

Originally Posted by KL2DC

... this time I will do things right (i.e. ZSP & 6MT) ... the wife's gonna have to live with it

That was funny! I know what u mean cause I'm married too and I had to get auto for her and the colour she liked
I'm gonna get her a X3 or something in a few years then I'm gonna go for the 550 or the Z4..well after the X3 is payed off..

Thx and I look forward to meeting u in May!

M.