Sometimes even the best football teams have to punt before they get the ball back. Here's what I would do (but that's just me).
Given the maintenance issues, I would sell the M5, buy the best new car with full warranty I could for the cash I got even if it did not have the power I would like to have. Go 3-4 years with zero car note then during that period pay yourself on a monthly basis rather than these guys trying to rip you off. Maybe even have the money automatically withdrawn from your pay each month then deposited into a money market account to insure you don't spend it on something else. (That would be my problem).
Then in 3 years, have a big cash downpayment to put on a CPO'd version of the latest turbo charged 3 series or the V8 M3.
Yes this is true, especially true for a sports car. An Accord or Camry are your best bets if you want to hold value. The lancer will probably depreciate faster than your M5 because most of the depreciation has already been taken on the M5 (from $74K new to around $28K now). Remember that a new M5 costs more than twice as much as a new Lancer, so obviously there is more depreciation involved.
Buy a Civic and you can drive for a long time before you experience $5K depreciation but that is, in part, because $5K is a substantial % of the cost of the car. $5K is almost nothing relative to the cost of an M5.
so far 2 posts leaning more towards civics. sounds like you guys might be closet jap car lovers. all jokes aside are civics a good bang for the buck??
__________________
________________________
Stoptech BBK
Kelleners Exhaust
Black Chrome Kidney Grills
again i want to say i have never driven anything like this m5 its simply amazing but it has just become too much for me to keep up with. i know the mitsubishi is crap in comparison but in the price range i really cant think of anything better unless you guys can?? let me know im up for advice on new cars right now.
Ok, did you consider an Acura TL with 6-speed? Of course it is not an M5(note the bold guys), but it is in your price range and is much more like an M5 (refined sport sedan) than the Lancer (pocket rocket). The Acura will also retain its value much better than the Lancer (less depreciation). If you want a pocket rocket then you are on the right track, but you will still be unhappy with the depreciation.
Sometimes even the best football teams have to punt before they get the ball back. Here's what I would do (but that's just me).
Given the maintenance issues, I would sell the M5, buy the best new car with full warranty I could for the cash I got even if it did not have the power I would like to have. Go 3-4 years with zero car note then during that period pay yourself on a monthly basis rather than these guys trying to rip you off. Maybe even have the money automatically withdrawn from your pay each month then deposited into a money market account to insure you don't spend it on something else. (That would be my problem).
Then in 3 years, have a big cash downpayment to put on a CPO'd version of the latest turbo charged 3 series or the V8 M3.
ya this is what i was thinking. i really do have to punt it away. great way of looking at it man.
i will look into paying myself or getting a better job and be back on here in the e60 forum.
as far as maintenace goes here is what i have done since february....
rear strut bracket and linkage
cabin air filters
air filters
2 x oil changes
all belts in the front
power seat switch
stoptech mod to fix warped rotors
kelleners exhaust
o2 sensor
cam position sensor
final stage resistor
2 diagnostic tests to check ses lights
rear tires ps2's
now the clutch is on its last legs and the ses light is on and i am getting fuel diagnostic coses 174-175
needs a thrust arm bushings
and thats my ownership history since february.
Ok, did you consider an Acura TL with 6-speed? Of course it is not an M5(note the bold guys), but it is in your price range and is much more like an M5 (refined sport sedan) than the Lancer (pocket rocket). The Acura will also retain its value much better than the Lancer (less depreciation). If you want a pocket rocket then you are on the right track, but you will still be unhappy with the depreciation.
oooohh ya i forgot about these. i cant live without nav either.
so far 2 posts leaning more towards civics. sounds like you guys might be closet jap car lovers. all jokes aside are civics a good bang for the buck??
That is exactly what they are. Don't buy a German car unless you can afford one. Germans and Italians make the best cars - but they are not cheap to buy or own.
That is exactly what they are. Don't buy a German car unless you can afford one. Germans and Italians make the best cars - but they are not cheap to buy or own.
so your saying they are the best cars but they break down the most...................................
DJtroy, my wife has a brand new civic with nav, runs around $22k i think. Its a decent car, I would throw another 5k at it and get an 05 Acura TL if I were looking between the two. Unfortunatly the car was given as a gift (paid) or I would have done the TL.
The civic is missing luxeries I want in a car, such as power seats. The seat is also not that comfy to me (6'1"), it gets awkward for me on longer drives (Vegas to Cali ~250miles).
Would I want to pay $400+/month for that car? Not a chance. But im not the civic type driver...
If you want my opinion, it sounds to me like you are sort of rushing into your decision. I'm not talking about the decision to sell the M5, I understand why it's smart for you to do so. I agree with you; it should be replaced.
However, your comment about "forgetting" about Acuras tells me you haven't looked at the market at all. You can't purchase a car by wandering on to a lot, putting what you have up for what you want. It's more than that. A car is a huge financial decision. You know all the information that is available on this board; there are other boards devoted to Civics and Acuras and everything else in your price range.
Do research before you buy. It's annoying and takes time, but how can you jump into a hole without seeing how deep it is? You need to know what kind financial issues and other issues you could face while you own. Don't just buy what catches your eye or you are liable for another money pit...
Linear Mode
