2016 328i, m-sport pkg, premium, lighting, heated seats, parking assist, BMS Stage 1, 82k miles, bought new 7 years ago. The car has been great, very reliable, fairly low maintenance, has been garage kept, washed and detailed regularly. Prob one of the cleanest F30s out there honestly. I love the car but I’m getting bored. Anyone on this sub is prob a car person, so I don’t need to explain the itch but I’ve got it. 7-year itch. I have recently had seat time in the X5, an X3 m40i, Macan Turbo S and a 540i. Love them all, in their own ways. They’ve all got some iteration of the B58 engine (except the Macan obv) which is just a fantastic engine. Have zero interest in EVs… These cars have got new tech for days, more power, better engines and a heavier dose of luxury without a doubt.
But as I’ve gotten older, my balance sheet and net worth statement have become more important to me than what’s in my driveway. I currently have no debt, net worth roughly 70th perecentile (sorry, personal finance dork…) I went through an expensive divorce, was promoted after covid and have been maxing out 401k, Roth, the kids’ 529 accounts, the brokerage account and stacking cash. Trying to stay the course, life is getting back on track, renting a great little house in a solid neighborhood but hoping to buy in the next few years. That said, obviously getting one of the cars I mentioned above is counterintuitive to any of that. I could buy any of those cars in cash but it would take a serious chunk out of my cash position and I don’t feel that it’s worth it. So my options are:
(1) keep the car, suck it up and put a few more years in. Keeping stacking cash… there are worse daily drivers obviously. Stop watching car videos on YT and looking up slightly used X3s, 540s, Macans, etc. Be bored. Make the responsible choice. Nothing beats no car payment right? Dave Ramsey would be proud.
(2) sell the car and upgrade. I could prob get $15-16k for the car. I’d hate to sell it. Seems worth more just to keep. What’s $15k anyway? Not enough to make much of a dent. 2nd car always useful right? So yeah sell the car and put $15k + some more down on something new.
(3) keep the 328 AND get something else. CPO X3 m40i going for low to mid $40k range… 3 year old 540i going for even less. Thanks!
Is it really a 7 year itch or is that divorce screwing with your finances? I assume you have child support payments here.
In your situation, all of three choices (except a modification to the second) are completely stupid from a financial perspective. Sell the F30, use the money to buy a cheap used Corolla with cash, then buy whatever new BMW you want when the child support payments end.
I’m saying that as a young guy (late 20s) with a net worth in the top 10% of his age bracket and a fully paid off classic BMW that got bidded up to crazy money on an auction website. If I was divorced like you I wouldn’t even think of owning cars like this