Keep it or Sell it?
03-14-2010, 06:40 AM
#11
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My Ride: 2011 550i AW - every option
I have 131,000 miles now. Sure I've had a few rough patches, but overall its a great machine. Since its paid off - be sure to just allocate a small car payment to an envelope or something monthly, so when a serious repair pops up - you've got something stashed. Any car will run good as long as you maintain it well. Kinda... 
03-14-2010, 06:53 AM
#12
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Location: Originally from Koeln, Deutschland. Enjoying it in Bonita Springs, Florida Now :)
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Tough call....but IMO, you would get more money out of the car if you keep driving it. You would probably loose more money if you get a newer car, rather than maintaining the E60...I say keep it.
03-14-2010, 09:32 AM
#13
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My Ride: 2006 BMW 550i "Ben Hogan's 5 Iron"
SilverGrey/Black Sport, L7, NAV, CW, AS, Split FR
2003 Audi A4 3.0 CVT "Part of the Moniker"
Silver/Ebony, Prem, CW, Star 17s
I'd keep it. Dealers make tons off warranties It is understandable that your worried about an 04 545 and I'm worried about my 06 too.
But here is my math. An 04 is worth say 24k or less. A CPO 06 is prob 32k with tax 35. That gives you 10k to play with. This is pretty conservative. It's good for 4 more years, depreciate to zero that's 600 a month. A new 5er would be costing you more.
In two years the 06 loses $10k in depreciation and your 04 loses less, say 6k as depreciation tapers off. I know this because my 03 a4 is loses like 1k a year now.
Now you have 14k to play with. A new engine replacement if you believe in the o ring terror.
The 06 will go out of warranty at some point and the worries start. No way around it other than paying up for insurance.
Btw. I passed on a cpo for my car. It was a three yr lease and I bought it because. The buyout price was low. Cpo deal was 2500 for 3 years, meaning one year of coverage was wasted given 1 year left on the original warranty. So nearly 1k each year for coverage. No thanks. This was a year ago and, if I took the cpo, only 11 months would be left to go. I figure there is 2500 of equivalent fix it money in my pocket.
Now if I just set aside 1k a year in the next two years and can cope with a few problems It more likely I'll go four more years without major problems. Maybe then it's decision time Estimate I'd have only 88k by then. 38k now.
Sorry for the rambling post but that's the way I see it.
But here is my math. An 04 is worth say 24k or less. A CPO 06 is prob 32k with tax 35. That gives you 10k to play with. This is pretty conservative. It's good for 4 more years, depreciate to zero that's 600 a month. A new 5er would be costing you more.
In two years the 06 loses $10k in depreciation and your 04 loses less, say 6k as depreciation tapers off. I know this because my 03 a4 is loses like 1k a year now.
Now you have 14k to play with. A new engine replacement if you believe in the o ring terror.
The 06 will go out of warranty at some point and the worries start. No way around it other than paying up for insurance.
Btw. I passed on a cpo for my car. It was a three yr lease and I bought it because. The buyout price was low. Cpo deal was 2500 for 3 years, meaning one year of coverage was wasted given 1 year left on the original warranty. So nearly 1k each year for coverage. No thanks. This was a year ago and, if I took the cpo, only 11 months would be left to go. I figure there is 2500 of equivalent fix it money in my pocket.
Now if I just set aside 1k a year in the next two years and can cope with a few problems It more likely I'll go four more years without major problems. Maybe then it's decision time Estimate I'd have only 88k by then. 38k now.
Sorry for the rambling post but that's the way I see it.
03-14-2010, 09:34 AM
#14
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My Ride: 2006 BMW 550i "Ben Hogan's 5 Iron"
SilverGrey/Black Sport, L7, NAV, CW, AS, Split FR
2003 Audi A4 3.0 CVT "Part of the Moniker"
Silver/Ebony, Prem, CW, Star 17s
Sorry repeat post
03-14-2010, 11:36 AM
#17
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i say sell it wasnt there a tread recently about a 545 w 60,000 mi engine going out and costing like 16k to replace 
03-17-2010, 05:19 AM
#18
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My Ride: 2004 545i Black Graphite Metallic|Black
Options:Sport Package|Premium|Cold Weather|6speed |Logic 7|Active Steering
I'd keep it. Dealers make tons off warranties It is understandable that your worried about an 04 545 and I'm worried about my 06 too.
But here is my math. An 04 is worth say 24k or less. A CPO 06 is prob 32k with tax 35. That gives you 10k to play with. This is pretty conservative. It's good for 4 more years, depreciate to zero that's 600 a month. A new 5er would be costing you more.
In two years the 06 loses $10k in depreciation and your 04 loses less, say 6k as depreciation tapers off. I know this because my 03 a4 is loses like 1k a year now.
Now you have 14k to play with. A new engine replacement if you believe in the o ring terror.
The 06 will go out of warranty at some point and the worries start. No way around it other than paying up for insurance.
Btw. I passed on a cpo for my car. It was a three yr lease and I bought it because. The buyout price was low. Cpo deal was 2500 for 3 years, meaning one year of coverage was wasted given 1 year left on the original warranty. So nearly 1k each year for coverage. No thanks. This was a year ago and, if I took the cpo, only 11 months would be left to go. I figure there is 2500 of equivalent fix it money in my pocket.
Now if I just set aside 1k a year in the next two years and can cope with a few problems It more likely I'll go four more years without major problems. Maybe then it's decision time Estimate I'd have only 88k by then. 38k now.
Sorry for the rambling post but that's the way I see it.
But here is my math. An 04 is worth say 24k or less. A CPO 06 is prob 32k with tax 35. That gives you 10k to play with. This is pretty conservative. It's good for 4 more years, depreciate to zero that's 600 a month. A new 5er would be costing you more.
In two years the 06 loses $10k in depreciation and your 04 loses less, say 6k as depreciation tapers off. I know this because my 03 a4 is loses like 1k a year now.
Now you have 14k to play with. A new engine replacement if you believe in the o ring terror.
The 06 will go out of warranty at some point and the worries start. No way around it other than paying up for insurance.
Btw. I passed on a cpo for my car. It was a three yr lease and I bought it because. The buyout price was low. Cpo deal was 2500 for 3 years, meaning one year of coverage was wasted given 1 year left on the original warranty. So nearly 1k each year for coverage. No thanks. This was a year ago and, if I took the cpo, only 11 months would be left to go. I figure there is 2500 of equivalent fix it money in my pocket.
Now if I just set aside 1k a year in the next two years and can cope with a few problems It more likely I'll go four more years without major problems. Maybe then it's decision time Estimate I'd have only 88k by then. 38k now.
Sorry for the rambling post but that's the way I see it.
03-17-2010, 05:46 AM
#19
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My 2004 530 is no longer under warranty but it is reliable, low maintenance, and a pleasure to drive. I've also modded it to my liking and I have fallen in love with the car to the point that my friends tease me about it.
03-17-2010, 05:52 AM
#20
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Mine just turned 96K and still going strong (knock on wood). I intend to keep it at least another year or two. It feels really good not to write a check every month for car payment (mean while still paying for the wife's Q7)