I bought my BMW with 60k miles and have managed to get it to 100k miles. Ive been able to do the repairs and maintenance myself, learned a lot working on the car. From walnut blasting to changing the oil pan gasket, the list of repairs are long but they've been worth it every time I hit the highway. Anyways, I was wondering if I should sell the BMW and use that money as deposit to buy a manual 2018 civic with 15k miles. My parents suggest buying a brand new car or keeping the BMW (they love driving my car so they're a bit biased.) They say buying a used car wouldn't be worth it and it would be a waste of money so I should just keep my car till it dies. They believe dealerships roll-back the odometers on used cars and that I don't know how well maintained the used car is. I know I should sell the car but the idea of monthly car payments (with great credit) and higher insurance is not appeasing also. Just want advice.
TL;DR : Should I sell my BMW now while it is still worth something and use the money as a deposit for used 2018 Honda Civic manual with 15k miles?
Drive the BMW into the grave, don't put much money into it, and then get a USED Civic. Depreciation makes your money jus dissapear in a new car purchase.
Or get the Civic now and use the BMW as a second car once in a while until it falls apart.
If you can get a decent sum for it, sell it right now.
If you can’t, drive it until the wheels fall off.
Buying a new/used car is your prerogative, but you can insure yourself against the risks of buying a used car, by having a PPI performed by a professional mechanic, before you buy it.
Realize you’ll get the best price for any car if you pay cash & you'll overpay when financing. That’s a decision for you to make.
Good luck!
I would sell it and move on. 100k miles is good for that car and though it can run a lot longer, you're going to have to put a good chunk of money into it.
I would sell it now while it has value rather than drive it into the ground and be lucky getting $500 down the road.
The ideal outcome is to keep the Beemer as a weekend car and the Civic as the weekday car, but since it is one, its a tough question because it is a lifestyle change. Love reading about working/learning on the BMW, that is priceless and the experience/knowledge/satisfaction will be with you for ever. Replacing the BMW with a Civic means no more working and learning (Hondas are reliable). There is less stress knowing the car will always start, but then stress about having a monthly payment. If going down the Civic path, consider a new one, the financing terms may be better than financing a used car. Also, the Civic may be out of warranty. Depreciation is real, but so is buying someone elses problems. Of course, problems reduced due to it being a Honda. At the end of the day, money is going to be lost (depreciation or repairs), so choose which is tolerable. Im running with this, lol. My opinion, keep the BMW, you know it well, fun in maintaining it, and no monthly payment, and suggest saving that monthly payment for future repairs.
If you are use to fixing up bmw then the honda will be a cakewalk haha! I have a bmw side project but a toyota daily. 15k miles is low for a 3 year old car so I would check to see if it was sitting or barely used. It's illegal to roll back mileage on a car though so unless the dealer you are goin to is super shady... As long as you get a decent car report on maintenance of the car, couple oil changes and the like, and then actually take a full walk around, and if it all looks good (past the dealer wipe down plastics) Get the civic, it will last forever and is sure of a hell a lot easier to maintain than a bmw lol
Also I would think that the bmw has higher insurance than a honda