The costly maintenance I’m referring to are timing belts, tranny, clutch if you drive manual, electrical, suspension, braking system, cooling system. God forbid, if your cooling system fail and you didn’t notice it for 5-10 minute, then you’re talking about damage to your head, or even warped block. Those things can add up to 5-10k in repair easily if you have to do all those repair. Those expenses, I did not add to the price comparison. Even w/out it, the difference is around $60-$70/month. That’s a dinner at a nice restaurant for 2. You’re arguing about semantics but you’re missing the big picture.
In the long run, there may not be much difference. But thats if you plan to keep the used BMW for like over 10 years or so.
However, insurance and vehicle registration costs are much higher on a brand new BMW than a used one. That and the interest that you will pay to finance a new BMW cost more than to maintain a used one that has been well maintained. Thats the key. Few people have 50 grand to pay cash outright on a new car!
Case in point:
I own a 1996 BMW 328is with 92k miles. Bought used with 55k miles for 13k.
Now it has 92k miles. I have done all maintenance. Costs me 3k a year on maintenance (belts, hoses, service, oil changes). Good points on maintenance- do it or the car will eat you alive. I take mine to Cunningham.
I have spent 5k over past 3 years to keep my car in shape. Suspension, coolant, brakes, etc. Yes, it is expensive but still cheaper than a new one.
Now if I paid 46k for a new BMW 3 series, that would cost me 60k over 4 years with finance and interest and additional insurance/registration costs.
My 13k BMW would cost me 13k plus 20k over 4 years for maintenance. So it really is WAY cheaper about 28k cheaper over 4 years to keep up the used BMW. And its paid for.
Yes- the new ones are very nice and much faster but I cannot deal with 1500 monthly payments just to have a brand new one. In fact, my next car may be a new Hyundai Sonata for 17k with a 10 year warranty. Thats a good deal for a new car!
