10-21-2017, 12:34 AM | #1 |
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How Upside Down are You?
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
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2013 BMW M5 - B&O Sound - Piano Black trim - 2 toned grey/black interior.
2016 M3 - Fully Loaded - GF's car Grave Yard - 2014 BMW 640i - 2007 BMW 335i - 2006 BMW M5 - 2003 Infinti G35 - 2002 BMW 740i - 2002 CBR 954r - 2000 BMW 540i - 2000 BMW 328i |
10-21-2017, 07:08 PM | #4 |
MGySgt
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Drives: See Garage List! ;-)
Join Date: Mar 2014
Location: NORVA
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Garage List 2010 M5 [10.00]
2016 BMW 340xi M Sport [9.00] 2019 X5 50i M Sport [5.50] 2010 535xi [0.00] 2013 M5 [0.00] 2012 X5 M [0.00] |
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!
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10-21-2017, 08:20 PM | #5 |
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I meant as in no debt so +49k. Bought used for 58k couple years ago. No way I would buy a new pre-lci
Last edited by TheHouseWon; 10-21-2017 at 09:16 PM.. |
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10-21-2017, 11:16 PM | #8 | |
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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. |
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10-22-2017, 08:14 PM | #9 |
Major General
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Lease .....
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CURRENT: 22' INDIVIDUAL M5| CHALK | TARTUFO | CCB | MPE | H&R | IND
GONE: 19' M5C| SINGAPORE GREY| ARAGON|VELOS VLS-06|H&R|iPE|IND|XPEL|CF|RADENSO GONE: 15' F10 M5|BSM|BLACK|VELOS VSS-S2|KW|AKRA|IND|CF |ESCORT 360|VELOS PIGGY GONE: 13' F10 M5|SG|BLACK|AKRA|KW|IND LONG GONE: 09' E60 M5|02' E39 M5 |
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10-23-2017, 04:04 AM | #11 |
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10-23-2017, 12:24 PM | #14 |
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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...
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10-23-2017, 12:38 PM | #15 | |
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10-25-2017, 09:25 AM | #16 |
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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.
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10-26-2017, 12:36 PM | #17 | |
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2013 Bmw M5-Alpine White/Black-Oem gloss blk powder coated wheels-Expel clear bra-35% tint-Rpi Gtm Exhaust-Rpi Downpipes-Rpi Scoops-Halim Cazimi Performance Tune-KwV3 coilovers
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10-26-2017, 03:52 PM | #18 |
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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 |
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10-26-2017, 09:18 PM | #19 |
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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. |
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10-27-2017, 02:17 PM | #20 |
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I did the exactly same. Bought a cpo 14 for 59k with 18k miles last year. It has everything except comp & B&O.
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12-21-2017, 02:09 AM | #22 |
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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.
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