How Upside Down are You?

[smoorebmw]

I owe $55,000
worth $45ish

2013 - 29k miles

It will probably take 2 years to catch up to what it's worth....good thing I have pretty low miles

[TheHouseWon]

+49,000 give or take. How much are 13's worth?

[TrevorM3]

lol. thats why you dont buy any six figure M or AMG.

[JMD]

I'm happy to report! "0",...in fact,...I'm + whatever I sell it for down the road! Was blessed to get the title on day 1!

[TheHouseWon]

Originally Posted by TrevorM3

lol. thats why you dont buy any six figure M or AMG.

I meant as in no debt so +49k. Bought used for 58k couple years ago. No way I would buy a new pre-lci

[M5_Brandoe]

Lol hate this thread !

I'm 9k upside down

[Herofmine]

I owe $27k 2015 M5 14k miles on dash not that bad. But planing to pay off by next year.

[variable229]

Originally Posted by smoorebmw

I owe $55,000
worth $45ish

2013 - 29k miles

It will probably take 2 years to catch up to what it's worth....good thing I have pretty low miles

Worth and value are two separate things. If you are driving the car and enjoying it, doesn't matter what you owe. Enjoy the ride.

I have had my share years ago buying cars (financing) and being upside-down the first 2-3 years. I feel fortunate today I could easily afford any car I want by purchasing all cash, but I found a great way to save more $$$ to make it worth leasing.

I have a 2015 Competition Package with nearly all options. I leased mine at euro delivery invoice, got a fabulous money factor & residual and enjoyed my car the past 36 months. During the final months of my lease, I debated on turning in my M5, but I loved my car and called dealers looking for a buyout deal. With a few phone calls I found a dealer who offered a resale price that was lower than my lease-end residual buyout from BMWFS.

My final resale price on my 2015 w/ 22K miles, was about what you owed and in addition by rolling all my MSD, I was able to save more on $7K of state sales tax to repurchase my car. All in leasing saved me over $30K+ vs paying all cash new at MSRP three years ago.

A car is not an investment but nice to walk away with a great deal and let BMWFS to eat the first 3 years of depreciation.

[josec70]

Lease .....

[Housekeeping]

15k miles 2013 M5, owe zero

[Mkai0]

Originally Posted by Herofmine

I owe $27k 2015 M5 14k miles on dash not that bad. But planing to pay off by next year.

How long will you keep car once paid off?

[Herofmine]

Originally Posted by Mkai0

How long will you keep car once paid off?

She must go by summer. I will be looking for RS7, E63s or F90 depends on which one i'll get good deal.

[Warrior75]

2013, bought used, paid in full, thank God. I'll probably never buy a brand new car again, regardless of my financial situation.

[RPiM5]

Then again, if you never ever sell the car, are you really upside down??

But I agree with others, that I will probably never again buy another new ///M again. They just drop in price too drastically over time. As such, the next BMW I ever buy new, will be less than $70k, in order to minimize loss as much as possible. A $30k in depreciation is much better than $70k in depreciation over the same 3 year period of ownership. The only situation where a new ///M car is worth it is to do European Delivery with it that way you can do a European vacation with it, drive it on the Autobahn and the Nurburgring, Spa, Hockenheim, etc...

[Herofmine]

Originally Posted by RPiM5

Then again, if you never ever sell the car, are you really upside down??

But I agree with others, that I will probably never again buy another new ///M again. They just drop in price too drastically over time. As such, the next BMW I ever buy new, will be less than $70k, in order to minimize loss as much as possible. A $30k in depreciation is much better than $70k in depreciation over the same 3 year period of ownership. The only situation where a new ///M car is worth it is to do European Delivery with it that way you can do a European vacation with it, drive it on the Autobahn and the Nurburgring, Spa, Hockenheim, etc...

Yes, true, but i think they are going to discontinue EU deliveries on all german cars.

[RizOne]

I have a 13 with 14k miles. I am ahead by about $20k. Owe about $23k. Will pay it off soon and keep her forever. Not buying a six figure M or AMG, that is for sure. Great car though unless you want to sell it.

[boots]

Originally Posted by RPiM5

Then again, if you never ever sell the car, are you really upside down??

But I agree with others, that I will probably never again buy another new ///M again. They just drop in price too drastically over time. As such, the next BMW I ever buy new, will be less than $70k, in order to minimize loss as much as possible. A $30k in depreciation is much better than $70k in depreciation over the same 3 year period of ownership. The only situation where a new ///M car is worth it is to do European Delivery with it that way you can do a European vacation with it, drive it on the Autobahn and the Nurburgring, Spa, Hockenheim, etc...

You know I bought mine new nov 2012. I've got about 107k on the clock. I get depressed when I look at my resale value. But it's paid for so since I'm not ever gonna sell it I'm happy to have put all these country run miles on it as well as the random spanking on more exotic cars who thought they were fast. Would I buy new again? Naw. Next car will be a 15' pcar gt3 ?

[AWF10M5]

Enjoy the car if you like it that's all that matters

For many it's just transportation for others it's a member of the family it all depends on how people view their cars/age/priorities

When your old have a family and stuff the car doesn't matter but if your pretty young like me with not much else the car is more important

[VoytekM5]

I consider myself a smart shopper... find the least expensive well cared for car I want.

Bought my 2013 M5 6spd a few months back for $48k, one owner with 31k on the clock.

I'll take a small loss when I sell, I switch performace cars every 2 years or less.

[Hirenarora]

Originally Posted by VoytekM5

I consider myself a smart shopper... find the least expensive well cared for car I want.

Bought my 2013 M5 6spd a few months back for $48k, one owner with 31k on the clock.

I'll take a small loss when I sell, I switch performace cars every 2 years or less.

I did the exactly same. Bought a cpo 14 for 59k with 18k miles last year. It has everything except comp & B&O.

[S65 Pilot]

Cash is King, and Debt is Evil.
Title in hand

[Loft23]

Sold my 2014 M5, paid off and title in-hand within 3 years, with 24k miles just before they announced the F90 M5 for $60k to a friend. Used that money towards a 2018 911 Carrera S and financed the remaining $75k @ 2% interest rate for 48 months. Used the $75k cash I had and invested in several ETF's and mutual funds, netting me 12% YTD. Invested $4k play money into Litecoin and Ethereum and turned it into $20k.

Cash is not King if you can take it further on investments. I don't like buying used, and I accept the fact that it is a depreciating asset. Why not offset the depreciation with an appreciating investment? Put enough down to make your payments comfortable and put in extra principal if you want to pay it off earlier and save on interest.

I put any extra money I have into a "car fund", basically a steady growth mutual fund / ETF that I keep feeding. After 4 years, you'd have a good chunk of money to go towards a new car in addition to the trade-in if needed.