New Car vs. Used Car

[Gator325525]

I just inherited a 2012 X5 xdrive50i w/ only 1,700 miles on it. According to the window sticker it has just about every option BMW could throw on it and it cost a hair under $80k (the car was paid for in cash).

While I realize how incredibly fortunate I am to inherit such a nice car, I'm very tempted to sell it and buy an '06/'07 M5 or '08 550i and pocket the difference.

I've been driving the X5 around the past couple days and while it's a blast to drive I feel like with every mile I'm losing money to depreciation, which is a real killjoy.

I'd be very interested in any opinions you all might have about my situation. I've never owned a brand new car before so maybe I'm just hardwired to prefer CPO but I just feel like having a nice M5 or 550i and $20-30k in my pocket would be better than having a brand new car that is only going to go down in value.

[02 330xi 10 128]

You're spot on. In the last 2 years the highest depreciation values have hit luxury SUVs like its no one's business. (I analyze prices, miles and depreciation daily). I'd say try to get an M and another decent car to alleviate miles.

[yotone]

wow tough decision to make. it all depends on where you are in life and what would better suit you. Being in florida and not needing the high clearance or the all wheel drive would also swing me to trade it in for something more sporty.

anyways, im sure the person who gave it to you wouldnt want you to worry about any depreciation and would want you to have whatever made you happy.

[SilverBeam]

The car has already taken the biggest hit of depreciation. It's all downhill from here. If you don't like the car you should sell it. But if you do like the car and think you will keep it for a long time, then don't worry about it. All cars depreciate.

[320iAman]

All cars depreciate, as soon as a new car leaves the lot- it depreciates. You have an opportunity to have a new car, just dont drive it except special ocassions that way it will have lowest mileage and highest bluebook and you'll have a new car to make the impression , use your other car for work, vacation, ect, just a thought,lol

thats helmut koinigg in BMW-Alpina Full Race Build.

[ryanortegas]

I just inherited a 2012 X5 xdrive50i w/ only 1,700 miles on it. According to the window sticker it has just about every option BMW could throw on it and it cost a hair under $80k (the car was paid for in cash).

While I realize how incredibly fortunate I am to inherit such a nice car, I'm very tempted to sell it and buy an '06/'07 M5 or '08 550i and pocket the difference.

I've been driving the X5 around the past couple days and while it's a blast to drive I feel like with every mile I'm losing money to depreciation, which is a real killjoy.

I'd be very interested in any opinions you all might have about my situation. I've never owned a brand new car before so maybe I'm just hardwired to prefer CPO but I just feel like having a nice M5 or 550i and $20-30k in my pocket would be better than having a brand new car that is only going to go down in value.

Sell it on Auto Trader quick, then take time making an educated decision on your next purchase. E39 M5 is a great buy, and you will put more than 20-30k in your pocket.

[pbonsalb]

06/07 M5 could be a maintenance nightmare. I would spend more on a CPO car. Get one 3 years old so you have 3 years of coverage. Then sell it after 3 years if you don't have confidence in it.

[L0F]

Do you need an suv? I say sell it and get the car you want. The amount of cash you'll get on your end will easily cover whatever maintenance you might need to perform on a used car to make it spot on.

Basically, just do what makes you happy.

[OnTheFence]

What is your financial situation? Would you drop $70k on that car with your own money? If not, sell it. The person that died paid cash for the X5? Bad timing!

[AngryWhopper]

If it was me, I'd keep it. X5s are great, let alone a brand new one with every option in the book.


Sent from my iPhone using Tapatalk

[rmani]

I just inherited a 2012 X5 xdrive50i w/ only 1,700 miles on it. According to the window sticker it has just about every option BMW could throw on it and it cost a hair under $80k (the car was paid for in cash).

While I realize how incredibly fortunate I am to inherit such a nice car, I'm very tempted to sell it and buy an '06/'07 M5 or '08 550i and pocket the difference.

I've been driving the X5 around the past couple days and while it's a blast to drive I feel like with every mile I'm losing money to depreciation, which is a real killjoy.

I'd be very interested in any opinions you all might have about my situation. I've never owned a brand new car before so maybe I'm just hardwired to prefer CPO but I just feel like having a nice M5 or 550i and $20-30k in my pocket would be better than having a brand new car that is only going to go down in value.

wow you are lucky. Sell that bad boy and for for a 550 and pocket the rest of the cash. Hell if you really want a truck sell it and get a slightly older x5. Cash is king if you can pocket some do it! This would be a no brainer to me.

[domyalex]

I'd get a CPO, but a '09-'10 and slap 4 yrs warranty on it :)

(wait... that's exactly what I did... =P )

[Critter7r]

Buy an E30.















And a house.

[335moon]

Thats a solid downpayment on a house or condo if you live in ca. Sell it and take your time on purchasing a well maintained used car. In the end go with what you feel is best fod you. However, i can tell you know that keeping it isn't the right decision since you feel bad for driving it.

[timsev]

If you trade that X5, it's just like lighting money on fire. Go ask the dealer what it's worth before you even consider doing this. I think you will reconsider after you find out.

[Gator325525]

If you trade that X5, it's just like lighting money on fire. Go ask the dealer what it's worth before you even consider doing this. I think you will reconsider after you find out.

I already know what it's worth and you thought wrong.

[timsev]

I already know what it's worth and you thought wrong.

ok, then what is it worth

[r33p04s]

I say if u can afford the insurance n gas drive the truck until it dies...which will be a long time...instead of trying to get an automotive upgrade based on someone elses purchase and misfortune

If u can't afford gas or insurance just cash out n drive what u were driving before you were handed $80k worth of BMW

If u can afford gas and insurance and just don't want it...dump it pocket the max and drive what you had before and throw some mods on it

But that's just IMO so do w/e u want which is what you will do anyways so I don't know why u came on here asking what to do...

[AlpinTXiX]

Man if I had 80k to blow...

You could go the E60 M5/550i route but be wary of the electronic and other issues with those cars. Given your the two cars you listed it seems like you want a sedan with power. Have you considered the AMG Benzes? V8 rockets but they're only auto and are essentially straight line only. Higher maintenance too. Were it me, I would pick up an immaculate E39 M5 (maybe a Dinan supercharged one...:drool:) and then a four door beater of some sort if I didn't already have one. Pocket the remainder and then invest it.

[montaillou]

The car has already taken the biggest hit of depreciation. It's all downhill from here. If you don't like the car you should sell it. But if you do like the car and think you will keep it for a long time, then don't worry about it. All cars depreciate.

+1

Also, if you live somewhere where your vehicle license tabs/sticker is based on the value of the car, this could be extra money out of pocket.

[New2M3]

How do u inherit a 2012

[Cheyne]

How do u inherit a 2012

Person 'A' buys a 2012 X5. Person 'A' dies and leaves the car to Person 'B' in their will. Person 'B' has just inherited a 2012 X5. Surely not that hard a concept to grasp :shifty

As to the question at hand. Have you actually had the car valued? Just because a new one is worth $80k doesn't mean that a one owner one is, even with low miles. Cars take a massive depreciation hit as soon as you bolt a number plate to it. Check what you can actually cash it out for and then make your decision from there.

Don't forget to factor in maintenance costs of ///M cars into your planning too.

[sbeckman7]

I'm kinda in the same new vs. used decision process. You've obviously already thought about this, but if you're going to sell the X5 (which I would if you want something more sporty and with less depreciation) consider other cars that are 10 years old (e39 m5) and cars that are 1-2 years old (BMW's, AMG's, Porsche, etc.), so that they still come with factory warranties. No idea what brands you're considering, but it's worth mentioning you could get a 2010 car of X brand, with a good chunk of warranty left, and still pocket some cash.


You can get an '04 Gallardo for 80k if you try. Just saying ;)