Interesting. I did buy it used, with low miles, but I trust the odometer was not fiddled with. And though I had a commute for 3 years, the last 3 were nearly nil.
You (and all who responded) are giving me plenty of food for thought. I love the look and handling of the BMW, but is it worth the extra expense for the current repair and future repairs at the high cost? I think I’m ready for a “train car”… So thankful for all respondes.
I’m loving this financial deep dive. I was in finance and get it.
There’s also the love of driving and the fun of the car you drive. What other thing do you typically finance with a bank that you can enjoy?
To be honest, I’d love a clunker old convertible, a Chrysler Le Baron or such.
That would make me happy.
I’m thinking…!
Hi. Thanks for the reality check.
Ya, I’m not into the car that much. This X1 has a rough ride. The ad “driving machine” suits this. It’s not an easy ride, it’s more a machine. I did get nicer tires for good weather, but have snows (ridiculous? have I opened another topic?) and it is not pleasant.
With thanks to all of you, I’m currently leaning to selling it while it still has $10-12k in value, to put a good deposit down on something else, or buy a cool old clunker (I mentioned in another reply - a cool old convertible Chrysler Le Baron or such), that I may have to sink some money into like I am this, but that would be more fun to enjoy.
Wow. Love that you are keeping historic and financial records like this! No one has a crystal ball that’s for sure. Very thankful for folks experience and perspective.
My take as a non-mechanic is that those $2500 “surprises” are only going to be more frequent–and expensive–going forward. I’m in agreement with trading it in while it’s worth something. Of course, my wife and I tend to drive vehicles into the ground but… As for the LeBaron, etc., my advice is “fugeddaboutit” but it’s your money. 
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Ya, you are probably right about the LeBaron - one can dream!
Don’t dream about a crummy car like a LeBaron. Something more modern like after 2000 would be more like it. If you like a convertible, a Toyota Camry Solara convertible is a decent choice. It’s really a Lexus, built on the Lexus assembly line in Japan. I would have enough to a now one in 2005, but we needed seating for five in case the minivan was in the shop. One of my neighbors has an Infiniti G37 convertible. That’s also worth a look, and much newer than the Solara.
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A LaBaron would be nightmare rather than a dream. Unless you are in the super rich category and can purchase and maintain one of these.
I always liked those but fortunately could never afford one. Same for a bunch of others too.
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"Purebred,
A LaBaron
At least back in those days you could tell the make and model even from a distance unlike todays cars that all look almost the same with very few color differences.
Now that’s jumping from the frying pan into the fire.
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How much is the fun driving factor worth? It means something to me. I own a pair of antique Harleys and have owned half a dozen later model bikes.
The only bike I ever bought brand new was a BMW. I sold it after 6 years and regretted it immensely.
Some repair parts were a bit pricey but that was not a BMW fault. That was due to a few accidents caused by inattentive (a.k.a. idiots) in cars.
The riding experience was a ton of fun. The Harleys are made for straight highway cruising while chugging along. The BMW was fun to take out on curvy roads and play Johnny Roadracer; kind of a refreshing change from plugging along like a John Deere tractor. No knock on the HDs as they always will be No. 1 in my book.
I’m surprised nobody else commented on this:
and now only drive it locally with a weekly trip maxing at 45 miles an hour.
If you are only driving locally, have you considered an EV? Your driving needs might be easily met with an electric car, even an older one. It would also mostly eliminate the kind of maintenance that has been a concern for you. If you did need to do an occasional long trip where range might be an issue, you could just rent a nice new car.
The recent spike in gas prices has tempted me to think about an older Nissan Leaf for my local errands. Realistically, it would not replace my current vehicle for a few other reasons, so in my case buying an electric car would not be cost effective, but I’d love to have one. (I do have an electric step-through scooter - like a small Vespa - that I use for most of my local errands, which is absurdly cheap to run and a lot of fun in nice weather).
If you were to consider a Leaf, learn what you can on Youtube about the battery evolution since the 2011 model, and especially about what’s called “battery state of health”. The dashboard in a Leaf has a graphic display showing the battery SOH.
Another option might be a ride service. When you consider the cost to buy a car, maintenance, repairs, insurance, fuel, and possibly parking, using a ride service for occasional trips might make sense. I interviewed for a job in NYC in the early 1970s. Even though I already owned a car, it would have cost less to live in midtown, take a cab to and from work, then take a cab out and back for fun times every night.
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Freedom is not free. It costs money to be mobile with the ability to go anywhere you want, when you want, without getting permission.
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No permission required for a ride service.
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+1
Perhaps in Comrade Putin’s country that might be true, but in every other nation of which I am aware, the only permission required for a ride via Uber, Lyft, or other ride services is the authorization of one’s credit card.
Not “permission” per se, but a driver for a ride service needs to be available at the time you need it in order to use it. Depending on where OP is, that might not be a certainty.
I agree this sounds like a good use case for an EV, or, depending on the climate and traffic, even a scooter. (In many states, a scooter under 50 cc doesn’t require a license or registration.)
My experience is that there is always a ride available unless there is extremely high traffic or it’s an area no driver wants to go. High traffic takes care of itself by charging higher prices. If it’s a bad area, you probably don’t want to go out anyway.
Or it’s a rural area where there just aren’t many/any drivers around.