Can you help me with some BUY or KEEP type numbers please?

parking_question_chap

That warranty is extortionate.

NottinghamKnight

Nobbie1967 said:

I think you massively overstating the cost of running the car compared to buying a new one. It is almost always cheaper to maintain your current car than buy a new one since the depreciation is heaviest in the first few years. You have already incurred that and depreciation going forward will be much lower than you estimate. Look at your car on Autotrader to see how much they are worth when 4, 5 and 6 years old to get a better idea of depreciation. Also a lot of those maintenance items will last longer than one year, so the cost should be spread over a longer period. If the front brake pads are the originals, then they have lasted 30 months, so the new lot should also last 30 months, same with tyres. How long is the warranty extension for? Normally they are for two or three years. Try and work out the cost over the next three years to compare with a new car.

Whilst that first line is true then buying and running a new 7 series is a huge financial commitment, and I don't get the impression that the OP is looking at buying a new one at over £70k.

Homer_home

Op - where did you get your figures from for the price of parts you need?

The reason I ask is on Asda tyres the most expensive in your size is £200 fully fitted 

Bachelorplace

Are they? 20inch run flat pirellis?

Bachelorplace

Ok Nobbie I need to look at those numbers again.

Another way to look at it is, each time you change or in my case, I get free service packs and quite a bit of warranty. Essentially in theory there is a fine calculation to keeping something that costs money to run and is still devaluing than having something that isn’t costing as much to run but marginally higher devaluation.

I normally purchase at the middle of the devalue curve saving the first 20% then maybe a year of devaluation or write back but garner a newish car under high end service packs. A service alone on my car would be £700.

Yes I do not need the warranty this time round its 12 months but things go wrong on BMWs if u are fussy. 

I also considered a 5 or X5 which has a much greater resale potential to mitigate future losses a bit. Again however both cars are respectively more expensive used.

I will try doing more conservative numbers. In simple terms its 
Do I Spend 20k to change now and save 5/6k on the barge or keep it.

There is a sweet spot on used cars when u sell them and hence if you miss that sweet spot you end up driving something old for the same money as something new.

Bachelorplace

Essentially the OP was to check if I am missing a perspective in numbers or calculations.

Homer_home

Bachelorplace said:

Are they? 20inch run flat pirellis?

Yes , where did you get your figures from ?

L9XSS

My “sweet spot” was 18 mon5hs old car. 40k list price......run out model, it’s had a face lift. 2347 miles when bought so virtually as new
Paid 24k for it with 18 months warranty remaining and service pack for 2 years included. And yes it’s a BMW.
i agree there is a sweet spot for used cars, don’t buy brand new, hold onto the 7 series. But if you must go for the X5 then shop around and see what PX you can get to change.