How long do BMW X5's last?
I need a new vehicle for college and I have been researching good cars. I'm currently employed. I currently drive a 2003 cadillac deville with 146,000 miles on it. There are too many problems with it to keep dumping money into it. (i.e. Oil leak) I have always wanted a BMW X5. There's a 2006 X5 for sale local auto dealership that I viewed today. It currently has 100,146 miles on it and the asking price is $11,450. Which for a BMW is not bad at all. I would trade in my current car with a blue book value of $1,000 (give or take a few hundred) with a down payment of $1,200. So i would finance roughly $9,250 (plus taxes and optional 3 year warranty) for 36 months. My question is would this be worth it? How many miles can I expect to get out of it? Would there be any problems with it before its paid off? Do I need to bring it to a special service center for oil changes etc? As with it being a BMW i would expect it to have a high repair cost anyway. However, because of the prestige BMW name and being that they do cost so much up front, that theoretically they would be built more higher end, to last longer on average? The interior and the look of the car appear brand new. This would be my first car and I would have a co-signer. I really want this car because i don't want to be that boring person that drives a honda accord or toyota camry. They are such ordinary cars and my friends all have them. So if this car isn't worth it then, would someon offer suggestions please?
There are few things more expensive than a cheap European car.
Look at it this way - a same year Honda pilot, which was probably 2/3 of the X5 price new, is worth more now. Why is that? Because the Pilot is more reliable and cheaper to insure and repair. And on top of that, X5's are inefficient. If you think BMW's are "built more higher end to last longer on average", you'd be wrong. I would take a ten year old Highlander or Pilot to last longer than an X5, it's not even close.
Don't ever borrow money for longer than the warranty - if you really want this car, I would advise you to do something that I normally would not, buy the warranty and don't finance it for longer than it lasts. Search on here and you will find countless people that ask questions about junk cars they still owe money on - don't be that guy.
You are buying a car for college - buy something practical and efficient - not this, it is neither.
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