When do I sell?

prozach · 01-28-2010, 08:21 PM

I'm looking for a well thought out opinion.

I just bought myself a 06' Black on Black 330i 6-speed. Premium, Sport, Logic 7, Heated Seats ... The perfect packages IMHO. 75,000kms.

I got a smoking deal on the car. Clean title, CPO (Sept 2011 or 160,000km), and paid $25,000 CDN.

I put $3,000 down on the car, and paid my $2700 in taxes etc. in cash as well, so I currently only owe $21,500 on the BMW. I always make sure I'm not in upside down in my cars, and it seems like I put myself in a good situation.

God I'm long winded ... Sorry ... My question:

How long would you keep this car? Do I drive it into the ground for the next 3-4-5-6 years putting 15-20K on it per year, do I keep it until XXX,XXXkm then sell, OR do I just keep it until the CPO is up, then put it for sale?

When will I get the most return out of this car, but still be able to keep it for a while to enjoy?

I love this car to pieces ... I plan on always buying an 'off lease' BMW ... What a beautiful car! So, opinions?

We all know cars depreciate like mad, but when is the BEST time to sell this?

It's financed over 5 years, @ $205 bi-weekly, at 7%. Currently owe $21,500. They say you can't afford a car if you can't pay it off in 3 years, but I always prefer 5 years to keep my monthly payments low, and make double / tripple payments on months the money hasn't went to other hobbies or expenses.

Discuss!

r888 · 01-28-2010, 11:35 PM

75000kms for 25k? I think you should keep it after you finish paying it off. If you love it keep it, otherwise sell it and by the end of your agreement terms the new 3 series is out.

Just my 2 cents

Me_Hi · 01-29-2010, 03:47 PM

drive the car until you'll love something else than sell it and buy the new dream and drive that one until the next one and so on.....

MRQturbo · 01-29-2010, 04:18 PM

thats a good deal...better than what you would find in the GTA....

BMW Jet · 01-30-2010, 06:52 AM

Keep it until you pay it off. Then You can change it and buy a new one or just keep it for another 3 years (for a total of 8 years)

Tonybest · 01-30-2010, 08:37 AM

Drive it till it dies. But keep up the maintenance.. always do preventive maintenance. It will cost you the less in the long run.

If you want to spend the less money in the long run. Don't change your car often. Keep it as long as it wants to service you. As long as you take care of her.

01-28-2010, 08:21 PM	#1
prozach Private 8 Rep 70 Posts Drives: 06' 330i SPORT / PREMIUM Join Date: Dec 2009 Location: Halifax, Nova Scotia, Canada iTrader: (0)	When do I sell? I'm looking for a well thought out opinion. I just bought myself a 06' Black on Black 330i 6-speed. Premium, Sport, Logic 7, Heated Seats ... The perfect packages IMHO. 75,000kms. I got a smoking deal on the car. Clean title, CPO (Sept 2011 or 160,000km), and paid $25,000 CDN. I put $3,000 down on the car, and paid my $2700 in taxes etc. in cash as well, so I currently only owe $21,500 on the BMW. I always make sure I'm not in upside down in my cars, and it seems like I put myself in a good situation. God I'm long winded ... Sorry ... My question: How long would you keep this car? Do I drive it into the ground for the next 3-4-5-6 years putting 15-20K on it per year, do I keep it until XXX,XXXkm then sell, OR do I just keep it until the CPO is up, then put it for sale? When will I get the most return out of this car, but still be able to keep it for a while to enjoy? I love this car to pieces ... I plan on always buying an 'off lease' BMW ... What a beautiful car! So, opinions? We all know cars depreciate like mad, but when is the BEST time to sell this? It's financed over 5 years, @ $205 bi-weekly, at 7%. Currently owe $21,500. They say you can't afford a car if you can't pay it off in 3 years, but I always prefer 5 years to keep my monthly payments low, and make double / tripple payments on months the money hasn't went to other hobbies or expenses. Discuss!
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01-28-2010, 11:35 PM	#2
r888 M Power 12 Rep 198 Posts Drives: 323i E90 Join Date: Nov 2009 Location: TO iTrader: (1)	75000kms for 25k? I think you should keep it after you finish paying it off. If you love it keep it, otherwise sell it and by the end of your agreement terms the new 3 series is out. Just my 2 cents __________________ LCI E90 323i \| Silver \| Premium package \| M3 260M & Breyton 18" wheels \| KW 2 \| Matte black grill \| Sylvania Silverstar H7 \| MTECH H7 Cosmo Blue white \| NOKYA H8 Yellow fog \| LUX 5.0 LCI Halogen Angel Eyes \|
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01-29-2010, 03:47 PM	#3
Me_Hi Major 34 Rep 1,488 Posts Drives: * Join Date: Jun 2009 Location: * iTrader: (13)	drive the car until you'll love something else than sell it and buy the new dream and drive that one until the next one and so on..... __________________
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01-29-2010, 04:18 PM	#4
MRQturbo Captain 21 Rep 902 Posts Drives: 91 MR2 turbo....07 335i... Join Date: Oct 2008 Location: Toronto iTrader: (0)	thats a good deal...better than what you would find in the GTA.... __________________ 91 MR2Turbo....07 335i....
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01-30-2010, 06:52 AM	#5
BMW Jet BMW addict 21 Rep 256 Posts Drives: AW 2006 330i Soon to be F80 Join Date: Oct 2009 Location: SS iTrader: (0) Garage List 2006 E90 330i [10.00]	Keep it until you pay it off. Then You can change it and buy a new one or just keep it for another 3 years (for a total of 8 years) __________________ Quad Exhaust / Glossy Black Grill / Carbon Fiber mirrors / OEM Rear Spoiler / Mtec V2 AE / GP Thunder beams / 7500k Fog lights / Interior light LEDs / License LEDs / Trunk LED / Black Air scoops
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01-30-2010, 08:37 AM	#6
Tonybest Enrollment Officer 117 Rep 5,014 Posts Drives: 997.2 Porsche C4S Join Date: Jul 2007 Location: Montreal, Qc. iTrader: (2)	Drive it till it dies. But keep up the maintenance.. always do preventive maintenance. It will cost you the less in the long run. If you want to spend the less money in the long run. Don't change your car often. Keep it as long as it wants to service you. As long as you take care of her.
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