Why I sold my flawless '12 BMW X5 xDrive35d...
 

I sold my beloved '12 BMW X5 xDrive35d on Monday of this week as there was really no reason to have it anymore. That is about as blunt as it gets.

As many of you know, I am an automotive journalist. This means I get free cars (free gas, free insurance and no mileage caps) dropped in my driveway on a regular basis. Most of my peers don't own a personal vehicle, as they simply wait for the next "press car" to arrive. I was the exception to the rule, owning three cars and making payments on two of them!

Then I looked at my calendar and realized that I am booked back-to-back press cars/events through mid-January of 2013 (with more to follow):

• American Expedition Vehicles Brute Double Cab
• SRT Viper
• Airstream Interstate Mercedes-Benz Motorhome
• Hyundai Azera
• Aston Martin Vanquish
• Kia Sorento
• Subaru WRX
• Volkswagen Passat TDI
• Audi A4
• Audi A5
• Audi Allroad

With that in mind, the X5 would be parked in my garage unused until mid-January but I would still be paying for it.

No question about it, I absolutely loved the X5 (I still maintain it is the best five-passenger SUV on the planet). However, it was costing me $700/month on a lease and I was limited to just 833 miles/month (10,000 year) — keep in mind that my press cars are free/unlimited. The kicker was that California registration of $410 was also due this week.

Long story short, I didn't "need" the X5 and it was going to cost me $1,120 ($700 + $420) to keep it in the garage this month. I called BMWFS on Monday and my payoff was $46,450 (the vehicle had 10,204 miles on it and was literally in "mint" condition). I tried to trade it into two BMW dealers, but they would only offer me $44,000. On a suggestion, I drove over to a CarMax. They offered me $47,000. I smiled and gave them the keys. They cut a check to BMWFS for $46,450 and a check to me for $550 — yes, I walked away with cash in hand!

So, now I have a slew of free press cars. My wife is driving our '10 Audi A4 2.0T and I have my Porsche 930 for kicks. Plus, I have an additional $700+ in my pocket each month. I miss the X5 dearly, after just two days, but it can always be replaced... it is just a machine.

Oh, for the record... we owned the X5 35d for one full year and put 10,204 miles on it:

• Overall average fuel economy: 20.66 mpg
• Best fuel economy on a full tank: 32.25 mpg
• Worst fuel economy on a full tank: 18.22 mpg
• Best range on a fuel tank: 518 miles
• Cost of service: $0
• Oil consumed: 0 quarts
• Trips to dealership: None
• Problem areas: None

- Mike

Any downside to the 35d? I don't understand why more people don't go for the diesel engine? I have no experience with it.

Thanks Emission for your service to this board. You've been a great help to me and others when evaluating our vehicles. We can fully understand your position. I am (personally) envious of your upcoming Aston-Martin "access" but won't hold that against you.

This thread should also be helpful to those who are fighting their insurance companies on the valuations they have been given to show what a TRUE wholesale value is for a 2012 with 10K miles on it...

Whoa, I'm not going anywhere! :thumbup:

The Aston Martin Vanquish trip is to New Orleans, with a full day on a track. Should be fun. :angel:

While CarMax gave me $47,000 for it (below wholesale), the true retail value is about $55,000 - $57,000 based on my research. I expect CarMax to price it about $54,000 when they sell it...

- Mike

Thank your lucky stars Jon figured out how to residualize that hitch! What are you using for a tow car now?

No downside whatsoever.

Well, some may not like the noise? :dunno:

- Mike

That was another factor in the decision. The racing team I am involved with, GSR Autosport (http://www.gospecracing.com/index.html), now owns several pickups and trailers. If I want to race, I can just go down and borrow one... no need to tow anymore.

- Mike

I always wondered when you had time to drive that thing -- given all your expense paid junkets to exotic and lush locations to test impressive iron. I hope on one of those you or one of your compadres will be doing a comparo between the '13 Cayenne Diesel and the '13 T-egg TDI. Given both cars have the same drive train, and Porsche is supposed to have made their suspension/etc "better" it would be highly instructive to see an objective review of the two. Just a thought. Good luck and I will be watching Autoblog for your reports.:angel:

Very unlikely. As I have discovered, comparisons are designed to loop in as many readers as possible. A comparo between the Touareg TDI and Cayenne Diesel would capture all of our attention, but nobody in the real world would care.

I've driven both, and the Porsche is worth the extra coin. ;)

- Mike

I wonder how many folks are thinking "damit, I'd have paid him $47 for that!!!!"

Of course, you'd be dealing with morons saying "if he is asking 47, saying thats what carmax is offering, he prolly has 2k to move in there..."

:)

A

Finding a private buyer to come up with $47,000 is rather difficult, especially today. Only a dealer (or CarMax) is able to get that type of person behind the wheel.

Considering its MSRP was $62,375 and I only put 10,200 miles on it... not a ding, scratch or flaw... spotlessly clean and without any service issues... it was a steal.

- Mike

Agreed. It would be a PITA.

So you spent around 60 cents a mile? not bad.

(FYI, the first owner of my 996 spent $4.50 per mile. Serious.)

A

PS not up on carmax yet. :)

No, I spent a lot more than that.

My original drive-off was about $5,000... plus 12 payments of $700. That is $13,388... or $1.31/mile excluding insurance and fuel! With fuel (about .21/mile) and insurance (about $.06/mile), it works out to about $1.60/mile.

Yikes.

- Mike

Interesting story, I think you found a decent way out of that lease. In the past I have been less successful getting out of leases early.
I love my X5 and it's probably the best car I've ever had. But in your situation, with all those cars going through your hands, you did the right thing.

I have almost 9K miles in 5 months and have to agree with you, it is the best 5 passenger SUV, zero problems and great mileage.

Sad to see you go. Hope you stick around!

Yeah, it's below wholesale. I was offered $49,500 a couple weeks ago at the local Land Rover dealer on trade for my MY11 with about 13k miles on it.

Agreed. Below wholesale.

But I had one day to make the decision without having to pay the lease and registration... I came out clean and ahead, so I figured I win.

I am really sad to see it go.

- Mike

So how many months total did you own the car? Did you do a 36 month lease? I just got a 2013 X5 35i base model and paid 47,000 otd. Wishing i got the diesel i wonder how early i can get out of my lease.

36 month lease. I got out on the very last day of the first year (exactly 12 months).

- Mike

Hey Mike,
OT, but any guesses on whether we'll see the RS4 Avant hit our shores?
http://www.quattroworld.com/2013-aud...sa/#more-19095

I would certainly sell my wife's X5d for that :thumbup:

Agree on the registration, but the additional lease payment is a wash - your payoff would've been reduced by a corresponding amount and you'd have walked out of CarMax with more money.

I'd be happy with an A4 Avant TDI, but RS4 Avant? Sign me up :thumbup:

Still waiting on my bi-turbo v10 rs6 avant... Stupid EPA....

Jay

Well of course "AutoUnion" would be excited! :p

The F31 330d could serve our wagon needs, but if Audi brings this beast over...I'll be all over it! This morning I actually sent Audi of America an email expressing my interest (like anyone there fielding those inquiries cares)