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

10K views 70 replies 27 participants last post by  Emission 
#1 ·
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
 
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#6 ·
No downside whatsoever.

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

- Mike
 
#3 ·
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...
 
#4 ·
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
 
#5 ·
Thank your lucky stars Jon figured out how to residualize that hitch! What are you using for a tow car now?
 
#7 ·
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
 
#8 ·
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:
 
#9 ·
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
 
#10 ·
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
 
#11 ·
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
 

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#12 ·
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. :)
 
#13 ·
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
 
#14 ·
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.
 
#15 ·
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.
 
#20 ·
36 month lease. I got out on the very last day of the first year (exactly 12 months).

- Mike
 
#21 ·
#33 · (Edited)
Wolfgang and Ludwig -- both "passionate car enthusiasts"! That is why the domestics languish -- we get bean counters, they get "passionate car enthusiasts".:tsk: As Pogo would say, "we have met the enemy and he is us"! Sad days indeed.:bawling: Where is the next Zora Arkus-Duntov when we really need him!:confused:
 
#34 ·
I had dinner with Ralph Gilles (CEO of SRT) last night up in the Bay Area, after spending all day driving the all-new '13 Viper on- and off-the track (strict embargo prevents me from saying anything more about it until this Wednesday). Ralph is about as good as it currently gets for the domestics - the guy is bright, personable and really likes a fast car. Great conversation about the effort that went into the new Viper. Plus, he is not too proud to ask for opinions or suggestions. :thumbup:

- Mike
 
#37 ·
How long has he been ceo of srt? My biggest problem is that he runs the enhanced edition of the car. It would be nice to see improvement on all Chrysler Dodge brands.

Sent from my LG-P999 using Bimmer App
 
#41 ·
Glad Ralph is a car guy and not a bean counter (one of the few back there) perhaps he can turn that new Alfa based Dart into a fire breathing rocket ship with an SRT version. I might actually get one of those -- being a frustrated Alfisti (GTV6) and all.:bigpimp: Nice write up on the Viper -- I love that car but it is over the top!:tsk:
 
#46 ·
Okay, this is pretty cool... Ralph wrote this in the comments section of my Viper story:

"We had 48 Journalist thru the Viper last week, some drove it harder than others...Mike drove it especially well and was literally tossing it around the autocross and clearly having a good time! Nobody spun out, wrecked a car or even put 4 wheels off ( we had some creative curb slicing). I have been to dozens of Viper event and rides over the years...that has never happened! I also saw drivers pushing the car (more than I normally see from Viper newbees) and speeds getting faster all day. That is what a driver's car is suppose to do...help you find your depth and have some itself to spare. Have a Happy Thanksgiving enthusiast, without you there is no us!" - Ralph Gilles

Like I said, he's great for the brand.

- Mike
 
#48 ·
"Mike drove it especially well...." Ralph is not only a car guy he is a great PR guy as well -- always nice to keep the scribes sweet!:D Interesting that he thought it noteworthy to mention that they had no major incidents with the press rides -- leads one to assume that previous rides were not as successful and the flat bed had to come and take something away!:rofl:
 
#51 ·
Yes... and AAAAWWWWWRRRRGGGG... they put a front plate on it! :mad:

I sold it to them for $47,000.

- Mike
 
#60 ·
Hey Mike,

How about an update on your new ride? I thought having 2 cars was overkill in your line of work????

Reason you chose the Q5 over the X3 (assuming the X5 was either too big or too much $$$).

Jay
 
#61 ·
We sold the '12 BMW X5 35d in November, and traded-in the '10 Audi A4 2.0T last month... and replaced two cars with one... a '13 Audi Q5 2.0T.

While the $47,000 Audi leased for only a bit less than a $62,000 BMW, Audi's conservative lease rates meant that I had just over $5,000 equity in my A4 (residual was $17,925 and they gave me $23,000 for it)! I rolled it all into the new Q5, and ended up with a very low monthly payment.

Quite frankly, I think the new X3 is ugly (and so does my wife). The interior of the Q5 is gorgeous, especially its updates for this year, and its Google-enabled MMI broadcasts WiFi to the occupants in the cabin (my kids stream Netflix on their iPads).

In any case, that leaves me with the '13 Audi Q5 and an '86 Porsche 930. My wife will drive the Q5 daily (she absolutely loves it, while I miss the X5) and I will drive press cars and leave my 930 covered in the garage - I get a new car delivered each week. ;)

This week's car is a bright red 450-hp '13 Audi RS 5 Quattro (see pic below, taken last night). Next week's car is a '13 Infiniti QX56... I'm not complaining.

- Mike
 

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#65 ·
No AD. :)

- Mike
 
#67 ·
I agree with you mike, the new X3 really sucks. The base model still comes with halogen. Come on BMW, it is premium vehicle and still has the old style halogen bulbs. One of my friends bought the X3 and realized the halogen bulb after he took the car out from the showroom.
 
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