Anyone think this is crazy? (Purchasing X5M 2011, 15k miles, CPO)

[PIEZON]

I have an opportunity to move forward with my dream car. Now I am over analyzing the situation thinking that maybe it won't be a dream. Financially it would be $1,099 per month for 84 months. I did not want to go much higher than $1k per month. I will be married to this vehicle for a long time. My intention is that I would want to because since I test drove it in 2010 it has always been on my mind! Now I am thinking about long term maintenance outside of warranty and the long term financial commitment. My other option is stay with my X3M Sport after lease and have it paid off in 4 years. I know peers on this forum can relate to my dilemma.

[Michael_s]

Originally Posted by PIEZON

I have an opportunity to move forward with my dream car. Now I am over analyzing the situation thinking that maybe it won't be a dream. Financially it would be $1,099 per month for 84 months. I did not want to go much higher than $1k per month. I will be married to this vehicle for a long time. My intention is that I would want to because since I test drove it in 2010 it has always been on my mind! Now I am thinking about long term maintenance outside of warranty and the long term financial commitment. My other option is stay with my X3M Sport after lease and have it paid off in 4 years. I know peers on this forum can relate to my dilemma.

If it's the one at BMW of Laurel make sure you negotiate a bit. Asking price is a bit high in my opinion. I am pretty close to a 2013 with 14K miles for 77K with an MSRP just under 100K.

But it's an awesome car. I had one for 2 years then sold it and got a Cayenne TT now looking to get back into the M!

[PIEZON]

Originally Posted by Michael_s

If it's the one at BMW of Laurel make sure you negotiate a bit. Asking price is a bit high in my opinion. I am pretty close to a 2013 with 14K miles for 77K with an MSRP just under 100K.

But it's an awesome car. I had one for 2 years then sold it and got a Cayenne TT now looking to get back into the M!

WOW! Yes it is! Thanks for the feedback!

[MRV99]

84 Months!!! I hate to say this but it would not be a good idea for you to buy this car. I know you stated that you will keep it for a long time but 7 year loan for this car to get it to 1k is not what I would call a good financial decision. You will need to understand that ///M cars are much more expensive to maintain out of warranty. Not to mention if you plan on keeping this car for as long as you say, you will need to invest in much more maintenance right now to make this happen. You will need to invest in 7K oil changes instead of 15k, Diff and trans fluid changes every 30K-50K. Just my opinion

[PIEZON]

Originally Posted by MRV99

84 Months!!! I hate to say this but it would not be a good idea for you to buy this car. I know you stated that you will keep it for a long time but 7 year loan for this car to get it to 1k is not what I would call a good financial decision. You will need to understand that ///M cars are much more expensive to maintain out of warranty. Not to mention if you plan on keeping this car for as long as you say, you will need to invest in much more maintenance right now to make this happen. You will need to invest in 7K oil changes instead of 15k, Diff and trans fluid changes every 30K-50K. Just my opinion

Great feedback! Thank you!

[FrstBmr]

Yeah, 92k for a used 2011 is a little high. I bought my 13 new with a 100k sticker for less than that.

[upstate650]

crazy high. Yeah, its low miles, and yeah, its cpo'd, but its 3 years old already and will be 10 years old before you are done paying for it. Will this be a DD? How many miles will you put on it a year? Do you have a back up vehicle if the M goes down? Do you have the spare coin to pay to keep this thing on the road if the warranty runs out and the repairs start mounting?

If you have the coin and are willing to spend it, do as you wish. If you are stretching to do this, you had better think twice. On a seven year term, it will be depreciating a lot faster than you are paying down the balance. If the thing takes a crap on you, you could be under water in a big way.

Get a diesel and mod the shit out it!

[PIEZON]

Originally Posted by upstateX5M

crazy high. Yeah, its low miles, and yeah, its cpo'd, but its 3 years old already and will be 10 years old before you are done paying for it. Will this be a DD? How many miles will you put on it a year? Do you have a back up vehicle if the M goes down? Do you have the spare coin to pay to keep this thing on the road if the warranty runs out and the repairs start mounting?

If you have the coin and are willing to spend it, do as you wish. If you are stretching to do this, you had better think twice. On a seven year term, it will be depreciating a lot faster than you are paying down the balance. If the thing takes a crap on you, you could be under water in a big way.

Get a diesel and mod the shit out it!

Thanks upstate! I work from home only put on about 8,500 miles a year. When I do go out I get work related gas reimbursement so I'm good there. I'd probably have less than 85k miles when it's paid off. based on what you and some of others have said the price is a big high as well. I pay $970 per month now and it's comfortable. I really don't want to go much over a grand per month.

[DrewBert]

I got my 2012 x6m CPO for 83,500 with 7,000 Kms

So that price sounds really high to me

[Die Wolfe]

The practicality of buying an M car in the first place can be argued both ways; especially with this +5,000lbs monster. But I love my X5M and if you feel the same, get it!

Maybe try to bargain a bit more or even put more money down because this potentially new payment would only be $129 more than what your current payment is.

So do it!

[TB8715]

If its the one at BMW of Mt Laurel NJ call and ask for ED, he will get you your best deal...I bought my M from him. Tell him I sent you!

[Draper]

Originally Posted by upstateX5M

Get a diesel and mod the shit out it!

[donho]

84 months???

I traded my 2011 with similar miles for 50500!!!!!

HELL NO

[Michael_s]

Originally Posted by FrstBmr

Yeah, 92k for a used 2011 is a little high. I bought my 13 new with a 100k sticker for less than that.

The asking price is 71.9K I believe.

[PIEZON]

Originally Posted by TB8715

If its the one at BMW of Mt Laurel NJ call and ask for ED, he will get you your best deal...I bought my M from him. Tell him I sent you!

Yes and yes. Will do!

[PIEZON]

Originally Posted by Die Wolfe

The practicality of buying an M car in the first place can be argued both ways; especially with this +5,000lbs monster. But I love my X5M and if you feel the same, get it!

Maybe try to bargain a bit more or even put more money down because this potentially new payment would only be $129 more than what your current payment is.

So do it!

I like your view!

[uvacarbuff]

$1K per month is crazy for a 2011. My wife's 2014 Range Rover Sport V8 supercharged is costing me that much ($98k MSRP), but I put $$ down.

Why not buy my CPO 2010 X5M and keep the payments ~$690/month

[PeteMoss]

84 months is out of control. Not smart for a depreciating asset. People should know you don't keep these cars after the warranty. If you do buy, trade it in for something new before the 2016 CPO is up. Keep trading it in every three or four years to refresh the warranty.

That way it's still like a lease, but you own it. If the value is greater than what you owe towards the end of the CPO, take the equity and negotiate for a cheaper monthly payment for the next trade in. You can also put a little money down to bring your monthly nut under control.

[upstate650]

Originally Posted by Michael_s

The asking price is 71.9K I believe.

I paid mid to low 50's 9 months ago with 40K miles, and it came with a couple thousand dollars worth of extras

[bim_power]

2014 x5D or x50I are priced about the same price as your 2011 x5M. If you get fully loaded, DHP, adaptive M suspension and all (granted it is not a true M), it will be around $75 to $80K. The plus side is maintenance and re-sale with a newer model, IMO.

[Michael_s]

Originally Posted by upstateX5M

I paid mid to low 50's 9 months ago with 40K miles, and it came with a couple thousand dollars worth of extras

Yup, too high. That's what I advised.

[MonacoJoe]

get a porsche macan instead of the x3. i think you are stretching on the x5M and its too old to go that looong on it.

JMHO