Doing 20k miles a year and have a dilema !

My thought is just keep your car. I can't see you being ahead, financially, selling your car, buying a newer one, and paying for labor to swap all of the parts. We need some high milage data anyway!
:cheers:

I also cover 20k per year and have the same dilema.I purchased my car with 33k on the clock and two years later is now 80k!!

I thought of selling mine and getting a lower mileage one,but the only thing that has stopped me is that my car runs stronger now and has had all the usual work done to it, vanos, mafs, gearbox, suspension bushes etc.

I would hate to go through all that again, so I am keeping mine and running it for another two years.I paid 34k for my car two years ago and is now worth 19k, thats a big hit in my book. I can't find anything I want for 19k so keeping my M5.

I think I may well draw the same conclusions and just drive :wroom: :wroom: :wroom:

I have an Oct 99 car which has now done 68k miles-I will do about 15-20k miles per annum in this car and intend to keep it for a few years yet therefore over the 100k barrier.

I was told by BMW UK that there is now NO upper limit on the mileage for their extended warranty, although one used to apply. You just pay the £970 or so and it is renewed. Perhaps you could extend the warranty beyond 100k miles?

With all that's gone wrong with mine (now all sorted) I'll definitely extend and if i can't, I'll probably face the same dilemma as you!

David

Carrera2RS said:

What d'ya reckon is my best plan ?!?!

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There are a lot of unknowns in buying a replacement car that can't be factored in to your analysis. Miles are simply an indicator, not a bottom line value, as some 100k mile cars run better and are more reliable than other 40k mile cars. Economically, it always makes more sense to run a car into the ground than replace it. I would stand pat and keep your existing car.

Jaeger said:

There are a lot of unknowns in buying a replacement car that can't be factored in to your analysis. Miles are simply an indicator, not a bottom line value, as some 100k mile cars run better and are more reliable than other 40k mile cars. Economically, it always makes more sense to run a car into the ground than replace it. I would stand pat and keep your existing car.

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I agree. You know where this car has been and how it has been treated. Why risk another vehicle and its history? Cars are all depreciating assets, so just drive and understand depreciation and repair are part of the costs of ownership. If you use, say, $.25/mile just for the loss in value over time (ignore other costs of ownership for a moment), and you add an extra 10,000 miles a year, that works out to an extra $2500 a year. Divide by the amount of pleasure you get, and I think you will see the cost is not at all exorbitant! :biggrin: Of course, YMMV! cherrsagai
Regards,
Jerry

Keep it, CSL sucks and what else is gonna do all the M5 can?



Yeah nothing at that same price level.

Guys your all dead right :cheers:


Gonna run the baby into the ground :wroom:

I've gone through the same problem myself...I bought my 99 just over 2 years ago with 47k, and I do about 25k a year, so around christmas time (with about 95k) I asked a couple of dealers the trade in value and was shocked to hear 12-13k....(£7.5k depreciation per year)

So I decided to keep it for another 2 years - possibly 3, get it up to 150-180k and see where we are then. In 3 years the new M5 will have depreciated to the equivalent of what I paid for this one, so I might start the whole cycle again.... I think even at that time there'll be some boy racer willing to give me 8-10k for it. (slightly more stomachable £4k depreciation per year)

As someone else said, you can now extend the warranty over 100k and it seems to cover all main drivetrain elements.....it seems that only the suspension components become "negotiable" (you'll probably lose the negotiation!).

Currently at 103k and it feels as tight as when I bought it

Cheers

Guy

I'm pretty sure I will just keep on drivin :wroom: