[deletedelete]

My car is 1 year and 3 months old. My term was for 60 months so I got a little less then 4 years left. I have never had a car that long and have gone through 4 or 5 cars in the past 2 years.

I was wondering for those that financed whether you will be keeping the car until its paid off and whether you will be bored with it? I have done many mods in the first year and dont have many left. Only a few m3 suspension parts, a fmic, meth, and eventually one of those trunk lids that stick up.

In 4 years from now im probably not gonna get any money back for my mods and wont get a decent trade in value on my next car. Right now I love driving the car and have loved every second of it for the past year. Last year I modded, this year im gonna start my fight for the oil cooler retrofit and begin some track days and performance driving classes.

In all honesty ill probably drive the car until right before the extended warranty is up. Regardless of financing terms, the warranty will probably affect when I trade her in.

[DJKhan85]

driving mine till 100k and then picking up the next fun ride. I still have 80k to go. I don't care about resale value or anything like that. I financed for 66 months or some crazy number but will pay it off well before that time. I kept my last car for about 5 years and I imagine I'll keep this one for about 7 or 8.

[cotmfk]

Oil cooler retrofit? I thought it came standard after some point in 07?

[Bulldog 6]

Originally Posted by Prowess Symphony

My car is 1 year and 3 months old. My term was for 60 months so I got a little less then 4 years left. I have never had a car that long and have gone through 4 or 5 cars in the past 2 years.

I was wondering for those that financed whether you will be keeping the car until its paid off and whether you will be bored with it? I have done many mods in the first year and dont have many left. Only a few m3 suspension parts, a fmic, meth, and eventually one of those trunk lids that stick up.

In 4 years from now im probably not gonna get any money back for my mods and wont get a decent trade in value on my next car. Right now I love driving the car and have loved every second of it for the past year. Last year I modded, this year im gonna start my fight for the oil cooler retrofit and begin some track days and performance driving classes.

In all honesty ill probably drive the car until right before the extended warranty is up. Regardless of financing terms, the warranty will probably affect when I trade her in.

With all the mods why not keep it for a DD when you get your new car? Once you pay yours off which should be about two years before your extended warranty is up, save the payment every month that you expect on the new car and use that for your down payment.

[deletedelete]

Originally Posted by cotmfk

Oil cooler retrofit? I thought it came standard after some point in 07?

On the xi, only if you buy the upgraded 18in wheels. I have no idea how bmw came up with something so stupid. So no 18in wheels on the xi, no oil cooler. You have to fight with bmw to make your car not overheat.

Originally Posted by Bulldog 6

With all the mods why not keep it for a DD when you get your new car? Once you pay yours off which should be about two years before your extended warranty is up, save the payment every month that you expect on the new car and use that for your down payment.

Yeah, or I was gonna trade in the car once its paid off to help with the down payment. My only hope is that im not bored with the car in another 3 years. I assume that I will always find some mods to do, hehe.

[MontegoGoGoGo]

Damn 60 month lease, why for so long? I pay cash for my cars, so I know nothing about leasing, but that seems like a really long lease. Isn't the point of leasing to change out your car every 2-3 years?

[deletedelete]

Originally Posted by MontegoGoGoGo

Damn 60 month lease, why for so long? I pay cash for my cars, so I know nothing about leasing, but that seems like a really long lease. Isn't the point of leasing to change out your car every 2-3 years?

I said financing! Thats not a lease! I want to own my car, not rent.

[MontegoGoGoGo]

Oh damn, lol - sorry.

[Psychorugby]

Originally Posted by Prowess Symphony

My car is 1 year and 3 months old. My term was for 60 months so I got a little less then 4 years left. I have never had a car that long and have gone through 4 or 5 cars in the past 2 years.

I was wondering for those that financed whether you will be keeping the car until its paid off and whether you will be bored with it? I have done many mods in the first year and dont have many left. Only a few m3 suspension parts, a fmic, meth, and eventually one of those trunk lids that stick up.

In 4 years from now im probably not gonna get any money back for my mods and wont get a decent trade in value on my next car. Right now I love driving the car and have loved every second of it for the past year. Last year I modded, this year im gonna start my fight for the oil cooler retrofit and begin some track days and performance driving classes.

In all honesty ill probably drive the car until right before the extended warranty is up. Regardless of financing terms, the warranty will probably affect when I trade her in.

I've been flying with the same problem. I bought mine in August and have a 60 month term as well. I want to drive it until the wheels fall off, but I know my ADD will kick in at some point. I'm hoping that the allure of nodding the car over the next four years will keep me interested as I have not been fortunate enough to mod much beyond new kidney grilles and H&R race springs (oh and the CSL bootlid and M3 replica bumper a DUI bought me).

[Black Leopard]

Sometimes, when I start getting bored of my car, I hit the gas and fall in love with it all over again

[lawwailok]

Originally Posted by Black Leopard

Sometimes, when I start getting bored of my car, I hit the gas and fall in love with it all over again

+1

[tukukito]

Man i'm in your same shoes. I've had 5 cars in the last 2 years. I also finaced for 60 months and had the car since May 09. I love the car but I don't think I'm going to be able to stay with it for 5 years.

[deletedelete]

Originally Posted by Black Leopard

Sometimes, when I start getting bored of my car, I hit the gas and fall in love with it all over again

+2

Originally Posted by tukukito

Man i'm in your same shoes. I've had 5 cars in the last 2 years. I also finaced for 60 months and had the car since May 09. I love the car but I don't think I'm going to be able to stay with it for 5 years.

After a full year I still love the car. There is nothing else I want right now. 3 years from now, that might be different. Which is why im gonna space out my mod buying more and start some autox and driving lessons.

[I335]

Hey Prowess, you're thinking about it all wrong. The 60 month term is completely irrelevant. It could be a 150 month term and the equation would still be the same. Allow me to elaborate...

When you first buy a car (especially a new car) it's very expensive to own. Not only are you making payments, but if you sold it or traded it in early on you'd lose a lot to depreciation. At some point, even before the term is up, you reach a threshold where the depreciation rate slows dramatically and the car becomes at least worth what you owe on it and at this point your car starts getting less expensive to own. Then, after the term is up and you have no more payments, the car is even less expensive to own. Sure, your warranty is also up but with any luck you'll be driving a car whose maintenance and repairs cost significantly less than what you would pay if you were making payments even still being under warranty & maintenance.

Now the equation is, what's your threshold? I.e., how long can you stay satisfied with the car and where along the timeline I describe above are you in a position, both financially and mentally, to give up your current car costs to start that process all over again? That is the question...

[deletedelete]

Originally Posted by I335

Hey Prowess, you're thinking about it all wrong. The 60 month term is completely irrelevant. It could be a 150 month term and the equation would still be the same. Allow me to elaborate...

When you first buy a car (especially a new car) it's very expensive to own. Not only are you making payments, but if you sold it or traded it in early on you'd lose a lot to depreciation. At some point, even before the term is up, you reach a threshold where the depreciation rate slows dramatically and the car becomes at least worth what you owe on it and at this point your car starts getting less expensive to own. Then, after the term is up and you have no more payments, the car is even less expensive to own. Sure, your warranty is also up but with any luck you'll be driving a car whose maintenance and repairs cost significantly less than what you would pay if you were making payments even still being under warranty & maintenance.

Now the equation is, what's your threshold? I.e., how long can you stay satisfied with the car and where along the timeline I describe above are you in a position, both financially and mentally, to give up your current car costs to start that process all over again? That is the question...

Well, I wont be financially ready for a new car for a while, since im getting a house anyday now, when I find the right one. Ideally, id like to make some money either in sale or trade in of the 335 when Im ready for a new car.

So I need to wait until the trade in is enough, or the sale price is enough to give me a few grand towards the down payment on the new car. Or even better is if I can continue to mod and love the car well after the payments are done and save some cash for a while.

[mekeni]

Nope, I don't think I'll get bored of it in 4 yrs, though I might be pissed off with the maintenance cost after the warranty expires.

[noro]

Originally Posted by Prowess Symphony

I said financing! Thats not a lease! I want to own my car, not rent.

You don't own the car you finance, the bank does. Only it owns less and less of it as you make payments. Still even with a dollar left in payments, if you don't send it, a big guy name baba will come in a tow truck and take "your" car away while you're sleeping.

[deletedelete]

Originally Posted by noro

You don't own the car you finance, the bank does. Only it owns less and less of it as you make payments. Still even with a dollar left in payments, if you don't send it, a big guy name baba will come in a tow truck and take "your" car away while you're sleeping.

I said I WANT to own the car, as in someday pay it off and own it. And if the repo guy does come to take away the car, my cat will take care of him.

[mkato13]

Prowess. I am in the same boat. I always want something bigger better faster. I had a 05 GLI that I modded, then I traded it for a 09 GTI that I chipped within three days and traded it in for the 2010 335xi I have now. I didn't even have the GTI 6 months. For me it comes down to $$.If I can afford to get something new once I have researched it and know its what I want(for that month at least) then I do it. When I traded i my GTI I was expected to lose 2-3K but I actually got $4000 trade in value so it was worth it. I plan to mod it a little bit and hope to keep it till its paid off and then see where the cards lay. Good luck on the house hunt. Thats hopefully only a year or two away for me

[airshane]

Funny this thread came up ... I think the reason I got the 328xi was because I was bored with the Jetta. Prior to the 06 Jetta I had an 03 Grand Am. The Grand Am was paid for, but thanks to some lady in a white jag who liked to turn left into oncoming traffic my Grand Am was totaled. This was right at the same time I was changing jobs and was a few paychecks delayed. Not the best time to buy.

I financed the Jetta for 63 months with less than perfect credit. I refinanced after a year with perfect credit for another 36 months. On year into that loan I'm in the 328. The Jetta was a great a car for me at the time, but it doesn't compare to the 328. If I had the extra cash, and the garage space, I would have kept it for a DD and use the 328 for date night.

In two years, will I be bored with the BMW? I hope not ... After the down payment, and the 60 month loan on this thing I may not be so willing to get a new car. I "recalculated" the payments so that I could pay it off in 36 months. I started feeling a little buyers remorse this afternoon, but then when I got back on the road it went away.

I'm considering the Escort 9500ci radar detector, and if I get that, I'll probably keep it for many years to come.

[deletedelete]

Originally Posted by mkato13

Prowess. I am in the same boat. I always want something bigger better faster. I had a 05 GLI that I modded, then I traded it for a 09 GTI that I chipped within three days and traded it in for the 2010 335xi I have now. I didn't even have the GTI 6 months. For me it comes down to $$.If I can afford to get something new once I have researched it and know its what I want(for that month at least) then I do it. When I traded i my GTI I was expected to lose 2-3K but I actually got $4000 trade in value so it was worth it. I plan to mod it a little bit and hope to keep it till its paid off and then see where the cards lay. Good luck on the house hunt. Thats hopefully only a year or two away for me

haha, I traded in my chipped gti for the 335xi. My girlfriend wouldnt allow me a new car anytime soon anyways. She wants a house! Luckily I still like the 335 and am not anywhere near done with it.

[airshane]

Oh yeah ... Turning 30 probably influenced my decision as well. So maybe I won't be getting another one until I'm 40.