545i HUGE LOSS! Trade for M5? Or Shoot myself?
03-08-2009, 07:56 AM
#11
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My Ride: '05 545i Sport - MANUAL - Jet Black/Black
20" Miro Time Attacks, Bimmian Carbon Kidneys
I have the same problem, as far as getting itchy after a while. I'm still always on Auto Trader looking at what I want next. I even go and figure out payments. At the end of the day, I love my 545i, and it's the only car I have ever owned that I haven't been bored with after a couple months. I still look for excuses to go out and drive it. Enjoy it man, and chill for a while. If you get an M5 right now, already being in the hole with the 545i, and with the F10 coming pretty soon... you wont be upside down, you'll be underground, man. I'm constantly coming up with schemes to get sweet new rides. Sometimes you just have to step back and slap yourself and realize it just isn't time. Five forty high five!
03-08-2009, 08:29 AM
#12
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My Ride: 2007 530i Alpine White with Navi and Premium PackageIn progress: OEM Mtech kit, H&R Sport Springs, and 19
I say you stop worrying about where you are at and just drive it. You can afford it so just keep recognizing that these are not investments, they are toys and also things that bring most of us tremendous excitement when we are behind the wheel. You are never alone in being behind in owe versus value, it happens to most when we drive off the lot. If you are looking for investments contact your local realtor for a list of the latest foreclosures. The $4k is probably not a good idea right now 
, but man again its your life,,,,
enjoy it if you can afford it...
, but man again its your life,,,,enjoy it if you can afford it...
03-08-2009, 08:30 AM
#13
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Chalk it up to a learning experience. Keep what you have and keep it running. It should last for 150K miles and beyond. Save the mod money toward the next purchase. Who knows what an M will look like in 5 years? But by then, you'll be ready to tell us about it.
03-08-2009, 08:34 AM
#14
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My Ride: It's an E60 545I 6 speed.
I feel the OP's pain. I bought my 545 in Nov, and I'm already seeing same year same model cars going for 5k less than I paid, in only four months. I thought I stole mine at the the time. I guess one good thing is I have an extended warranty, and the car has 55k on it. And I only drive it about 800 miles a month. I'm just going to try and double my payments, or at least pay 100-200 extra till I get closer to owing what it's actually worth. I might lease my next BMW.
03-08-2009, 08:36 AM
#15
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My Ride: It's an E60 545I 6 speed.
Originally Posted by lightfytr' post='810727' date='Mar 8 2009, 10:29 AM
I say you stop worrying about where you are at and just drive it. You can afford it so just keep recognizing that these are not investments, they are toys and also things that bring most of us tremendous excitement when we are behind the wheel. You are never alone in being behind in owe versus value, it happens to most when we drive off the lot. If you are looking for investments contact your local realtor for a list of the latest foreclosures. The $4k is probably not a good idea right now , but man again its your life,,,,
enjoy it if you can afford it...
, but man again its your life,,,,enjoy it if you can afford it...
03-08-2009, 08:51 AM
#16
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Originally Posted by ADD' post='810646' date='Mar 8 2009, 09:15 AM
The only way anyone makes anything close to even on a depreciating asset like a car is to ride it all the way down the curve. Assuming you didn't get hosed in the first place when you bought it (used I assume), if you kept your car, and paid it off, and continued to drive it for a few years afterward, you'd be even or closeto it. Trading early, or when upside down, is a want, not a need. It's the cost of doing business, and the cost of wanting something else (better). If that is bothering you, you shouldn't be considering it.
Knowing that you don't get squat for mods on trade, and assuming you are as torn up about the upsidedown-ness of your situation as you say, why on earth would you put $4k into this car in mods?!? Pay down the loan and enjoy your current ride.
There are only two choices when it comes to this discussion... Either money is not an object, or it is.
Knowing that you don't get squat for mods on trade, and assuming you are as torn up about the upsidedown-ness of your situation as you say, why on earth would you put $4k into this car in mods?!? Pay down the loan and enjoy your current ride.
There are only two choices when it comes to this discussion... Either money is not an object, or it is.
03-08-2009, 08:52 AM
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My Ride: 2006 BMW M5
Originally Posted by Jrowe' post='810629' date='Mar 8 2009, 06:27 AM
Here's what I'm going to do in the next week.
-M5 Bumper
-M5 Trunk Finisher
-Quad Exhaust
-M5 Fender Grilles
-Trunk Lip And Roof Spoiler
-M5 Bumper
-M5 Trunk Finisher
-Quad Exhaust
-M5 Fender Grilles
-Trunk Lip And Roof Spoiler
I was in same situation like you. the dealer wanted my car for $20K few months back (I guess they will want it for $15K today. Yeah very huge depreciation! ) . I wanted a M5 but I ended keeping my 545i due the global recession. The 545i is still a good V8 engine and powerful. IMO don't buy M5 bumpers and get a VF supercharger that is coming pretty soon (about $7K).
You could have been driving a new car for a lot less.
03-08-2009, 10:00 AM
#19
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My Ride: 2008 550i Jet Black on Black Leather, SAT with Paddles, Logic 7, Comfort Seats, NAV, Sport Package, PDC, Xenons, Sirius, Trinity 12W LED Angel Eyes, RPi GT Exhaust, M rear spoiler, ACS Roof Spoiler, Tinted Tail Lights, Bimmian Carbon Fiber Pillar Trim, Bimmian Shadow 550i emblem, RPi Scoop, E60 Forum Cling, Mtec bulbs in fog lights, Mtec 2W LED for License Plate Light Bulbs, K&N Filter, Bimmian LED Smoked Side Markers, Blackout roundels, Carbon Fiber Kidney Grills.
Retired Rides - 1989 325i convertible, 1995 M3, 2002 X5, 2005 545i, 2008 X5 (Lemon)
You're driving a GREAT car, enjoy it everyday and realize, there are those who are upside down on houses and lesser cars too! 
It could ALWAYS be worse, I drive a 545i too and love it everyday, I suspect you do too, and while I'm behind the wheel, do you think I'm thinking about the financing?? 
I hope you don't either! Those are my 2 cents, spend them as you see fit!
It could ALWAYS be worse, I drive a 545i too and love it everyday, I suspect you do too, and while I'm behind the wheel, do you think I'm thinking about the financing?? I hope you don't either! Those are my 2 cents, spend them as you see fit!
