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Discussion Starter #1
Hi there,
I've been a long time lurker on this forum but this is my first post.

This will probably fall under the financial advice category, but here is my current situation:
I've had my 2008 535i since fall of 2010 with 20k miles on it. My parents paid cash for it in my home state of Georgia so I have no loan on it. It was a California lemon due to the fuel pump so it has a branded title.
I'm now 22 years old and am at 126k. Some big expenses have come up with it in the past 10k miles and it's making me question if it is time to get rid of it in fear of what is going to come next and if I'm wasting money on it.
Here is what I've put into it recently
-November 2015, 118k miles the fuel level sensor area was leaking ($800 at independent shop)
-Early June 2016, 125k miles pre-cat O2 sensors were replaced and trans mechatronic seal was replaced ($2800 at the dealer)
-Late June 2016, 126.5 miles the A/C compressor seized and took out the pulleys and serpentine belt with it ($2900).
So, in the 7 months time between my first large expense with it, (unless I should count the water pump replacement and oil filter housing gasket April 2015 at 90k?) I've spent roughly $6500 on it. I'm at a lost if whether I'm wasting money on this car and if I'd be saving money on a new car. KBB rates it at $6000 to $8500 and I've seen them listed between $8500 and $12500 (not accounting for the branded title). The current issues with it are a oil pan gasket leak (adding a quart every 3500 miles) and the front suspension control arms and bushings are making clunking noises at low speeds but anything under the hood could go bad any time which could potentially "total" the car.
Any advice on if i should take these big hits in stride towards my enjoyment of the car or am I making bad financial decisions by putting money into it versus making payments on a new car with higher insurance etc?
 

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5,550 Posts
Hi there,
I've been a long time lurker on this forum but this is my first post.

This will probably fall under the financial advice category, but here is my current situation:
I've had my 2008 535i since fall of 2010 with 20k miles on it. My parents paid cash for it in my home state of Georgia so I have no loan on it. It was a California lemon due to the fuel pump so it has a branded title.
I'm now 22 years old and am at 126k. Some big expenses have come up with it in the past 10k miles and it's making me question if it is time to get rid of it in fear of what is going to come next and if I'm wasting money on it.
Here is what I've put into it recently
-November 2015, 118k miles the fuel level sensor area was leaking ($800 at independent shop)
-Early June 2016, 125k miles pre-cat O2 sensors were replaced and trans mechatronic seal was replaced ($2800 at the dealer)
-Late June 2016, 126.5 miles the A/C compressor seized and took out the pulleys and serpentine belt with it ($2900).
So, in the 7 months time between my first large expense with it, (unless I should count the water pump replacement and oil filter housing gasket April 2015 at 90k?) I've spent roughly $6500 on it. I'm at a lost if whether I'm wasting money on this car and if I'd be saving money on a new car. KBB rates it at $6000 to $8500 and I've seen them listed between $8500 and $12500 (not accounting for the branded title). The current issues with it are a oil pan gasket leak (adding a quart every 3500 miles) and the front suspension control arms and bushings are making clunking noises at low speeds but anything under the hood could go bad any time which could potentially "total" the car.
Any advice on if i should take these big hits in stride towards my enjoyment of the car or am I making bad financial decisions by putting money into it versus making payments on a new car with higher insurance etc?
Sweet spot is to own a car somewhere from 4 years to 10 years.
$6500 sounds a lot for this year but when you compare that to a newer one: a car worth $38k depreciates $6.5k in one year. BMW depreciates 17% a year.

So my advice would be, if you keep bringing it to a dealership, it's not gonna worth it. There are larger bills coming. Rather lose on depreciation and enjoy the car instead of worrying.

If you DIY, it's worth to keep it forever basically. My 2010 car costs me a lot more in the last 2.5 years due to depreciation (from 34k to 21k) (it barely needs servicing) than my very old car although I spend $2000/year on it (that's DIY price, dealer would be $5000/year).
 

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I agree with acoste. If you're handy with a wrench (or are friends with someone who is), you save a lot on repairs by not farming out the work. If you're not that type of person, bimmers are not cheap to maintain, so it might be best to let it go.

Consider yourself very lucky. When I was your age, I was driving an old Peugeot. I didn't get my first bimmer until I was 51.
 

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I'm 23 and in a very similar position as you. I have a 2008 535i from my dad as a graduation gift and it had 201k miles on it but we've owned it since new. I've had it not even a year and I've put in 8k in the car. If I went to the dealer for everything I would have probably gotten rid of it by now.

If you can't/aren't willing to do the work yourself like me, then finding a good indy is your only way to own it without killing your bank account. My car was stumbling and had transmission problems so I went ahead and fixed everything that needed to be done.

Within the last year I did:
Oil pan gasket
Oil filter housing gasket
Walnut blast
Transmission rebuild

I found a really good indy that does solid work and for all that I paid 6k. I wasted my time trying to get the dealer to fix everything and they quoted me about 13k for all the work.
 

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Discussion Starter #5
Thanks for your quick replies.
I really should look into finding a independent shop. I've been taking it to the dealer hoping it would help my resale value and a free loaner is very convenient since it is 70 miles away. I wish I could work on it myself but I live in an apartment with no garage and I don't have confidence I could do those big ticket items in a quick time.
Many of my friends say I should dump it but I don't think I'm at the point where the cost of a newer similar car would be lower considering depreciation and higher insurance.
 

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Guibo killer
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83 Posts
n54 powered e60? yes, the answer is yes, it is a pile of garbage falling apart costing tons. BMW had no clue about parts and suppliers, get rid of it before you spend the cost of the car again in repairs. I hate my 09 535i and am waiting for my replacement. I hate my car.

sure, get a garage, lie to yourself and say "well it is german luxury, it'll cost extra to keep up" wrong. bmw f'd up, we all know it, and only those in denial will say different. my lambo cost less to maintain.
 
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