Buying New vs. CPO

[Anonymous]

If I've heard once, I've heard 100 times, "buy used and let someone else pay the depreciation". But here is my situation. Retiring in two years and for once, would like to have a luxury sedan vs. the years of minvans, SUVs, and yes, a Chevy Malibu. So looking at a BMW 3 series to keep "forever". New, can probably get it for $48K + tax. CPO, $33+tax. So a $15Kish difference. Now if I want to keep the vehicle for 8 years (and that is probably the vehicle's lifespan), isn't it better to buy new? New I get three years free maintenance and $48K/8=$6,000 per year of ownership/ But the CPO already has three years of wear on the car. So if I take $33K/5, I get $6,500/year or it costs $500/year more. Plus buying new, I "know" the car.

Anything missing from this equation. I would probably put about $25k to reduce interest costs.

[Anonymous]

Never, ever, EVER keep a modern euro car past warranty period. Horrible idea for a “forever” car going into retirement. It’ll be nickel and diming you to death 10 years from now and sucking up cash that you’d rather be spending on travel or other fun things.

[Anonymous]

My BMW five series $500 replace bulb headlight

My wife’s GM I pop hood stick hand in and pop in a bulb in a few minutes.

BMW has a sealed bulb have to remove a lot of stuff to get to it.

My BMW battery is $700 my wife the battery is $150 and free install.

My BMW run flats are like $2,500 all four my wife all four is like $800.

They are great cars. But complicated and expensive parts

My five series I loved. I replaced it with a Cadillac eventually as repairs and maint a CTS way less. Mr. tire or local mechanic can cheaply do tires, brakes and oil changes my Cadillac.

However. Of you live near Rockville MD there is a local mechanic who repairs BMWs at a good price. He specializes in off warranty BMWs

[Anonymous]

Anonymous wrote:Never, ever, EVER keep a modern euro car past warranty period. Horrible idea for a “forever” car going into retirement. It’ll be nickel and diming you to death 10 years from now and sucking up cash that you’d rather be spending on travel or other fun things.

New BMWs have a 4 year warranty. The CPO adds another year. So with a 2021, would have two years of warranty left. But BMW has additional plans with unlimited mileage up to 7 years. So basically 7 years less the 3 years already worn on the car, that gives me 4 years of potential warranty. You're saying its probably not enough coverage based on what can go wrong. I do know that in the Northeast city where I live, 85% of the local dealer's sales are leases. There are high income people who like a new ride every three or four years.Leasing is super high with these things and not crazy about doing it, but it sounds like maybe people do that to avoid the later repairs?

So where is a person to go who wants great handling but doesn't want to support a mechanic?

[Anonymous]

Buy an extended manufacture warranty. Vehicles should last more than 8 years.