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Old 12-04-2007, 07:54 PM   #1
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Default Serious Car purchase dilemma

The 2002 BMW is running fine but I am learning the cost for parts and maintainence is much higher than I expected.

The car is paid off. It has a trade in value of 28,000 I have a repair savings of 10,000.

Do I trade in in on a newer car and put the 10k towards a downpayment or do I just sit on it and use the 10,000 towards repairs.

I went too look at a 2008 Acura TL Type * for 35,000

Thanks

Chris


BMW has 52,000 miles is under warranty till mid 2009 btw.
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Old 12-04-2007, 08:13 PM   #2
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The G8 will be here in a few months.
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Old 12-04-2007, 08:18 PM   #3
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You could always just keep trading your cars in when they stop going under warranty. I like the Acura TL (not my favorite, but it'* very nice). If you're not modifying, I'd say trade-in and go for something new with a full warranty while you have the money and the value of your car is as high as it is. Once you spend that $10,000 in repairs, your car isn't $10,000 more valuable. It'* just the same value or less. My $.02
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Old 12-04-2007, 08:19 PM   #4
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what about the 07-08 GP GXP?

a little more than the TL but will slaughter it
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Old 12-04-2007, 08:21 PM   #5
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Quote:
Originally Posted by J Wikoff
The G8 will be here in a few months.
Yeah I am also debating waiting for the G8. Looks to be an amazing car.
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Old 12-04-2007, 08:21 PM   #6
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Quote:
Originally Posted by 1993 SLE
what about the 07-08 GP GXP?

a little more than the TL but will slaughter it
As far as value, the resale on those is through the floor (if I recall correctly). Purchasing the last model year of a car is good for nostalgic reasons, but not a good financial choice. IMO, a Lexus would be a more responsible purchase, and the style is more close to the BMW.
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Old 12-04-2007, 08:22 PM   #7
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He thinks thats a dilema....
Sure wish I had that problem right now. LOL

Sell it outright Shadow, get 30k+ and drive the truck year round while you fix up a 98/99 SSEi for fun.
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Old 12-04-2007, 08:23 PM   #8
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Quote:
Originally Posted by popatim
Sell it outright Shadow, get 30k+ and drive the truck year round while you fix up a 98/99 SSEi for fun.
Haha, I guess there'* a reason it'* called the Bonneville club.
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Old 12-04-2007, 08:31 PM   #9
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Yep, sell the BMW and buy me a cheap SE from 97-99... Then whatever you want with what'* left.
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Old 12-04-2007, 08:49 PM   #10
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Um, I've never owned an Acura, but wouldn't it be just about as much to repair as a BMW?

If it were me, I would get rid of the BMW for a comparably valued domestic car straight up and put that ten grand in a nice cd or money market account.
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