+1
I like this man’s line of thinking :tup:
I really don’t think a 2 year old EVO is going to depreciate faster than a NEW BMW. I actually would be surprised if the EVO depreciates much at all over the next 2 years.
I think you’ll lose a good chunk of money doing this. If it’s worth it to you, then cool. But in 4 years the Bimmer might be worth $30k whereas the EVO will probably be worth $15k? Plus taxes on (purchase price)-(trade in) is going to be another couple thousand…
I’m not saying don’t do it, as I would imagine the BMW would be a much better DD, but it’ll cost you.
For comparison’s sake:
Here’s a 4 year old M3 with 70k $28,500
It stickered around $44k. So roughly $15k depreciation in 4 years @ 17k miles/year.
Here’s an '03 Evo with 64k listed at $23,000.
It stickered at around $28k. So in roughly the same time period and mileage as the BMW, it depreciated $5,000.
Plus you’ve already eaten the bulk of the Evo’s depreciation. So there you have it. The BMW is a much shittier decision financially. Now do it anyways.
EDIT: The Evo I picked may have been a bit of a ringer. Here’s an '03 with 77k listed at $19k. But that’s the cheapest and depreciated $10k. Then again, maybe the bimmer was a bit of a ringer too. There were lower mileage '03’s still listed above $40k. :ham:
Of course then you’ve got to consider repair bills, insurance, blah blah blah. I could probably make the numbers say anything I want.
They both suck equally. Just dew it!
I would not buy the BMW at this time for 2 reasons:
- Its the 1st model year for this (changes/recalls are likely)
- I really want to see an M-edition/sportier model of this car
(its needs a little something still…)
save some bank for a while then buy somehthing.
Jeller
^ i feel the same as jeller. makes plenty of sense. sit on it for a while, plus something else might come out that is better. i know im waiting for a few different cars to come out, as i am starting to look for my graduation present to myself
I am in total agreement on this. Plus, BMW has made the 3 worse looking every consecutive generation since the E30. The E36 still looked ok. I never liked the E46 and the current body style is terrible looking IMO. Just keep the Evo and buy a GT3 in a couple of years or wait to see the new M3 when it comes out.
Here’s a lame thought: You’re young right? Don’t dump $50,000 on a car. Put that $30k into an IRA now and retire a year early. It’s not like you’re driving a beater. :gotme:
cash out on the evo, go all in on an e39 m5
I think my boss’s new car is the 335. Is that twin turbo? Whatever BMW that just came out that is twin turbo, that’s what he has.
I can point people to good, aggressively priced e39 M5’s. Like an '01 Imola with 70k miles, aluminum/black/red interior for 24.9.