Selling my X5

Jrunr · 02-25-2021, 10:52 AM

So, I am getting deployed for a year and I have to sell my X5 - which is listed in the member classifieds. (The wife doesn't want to make payments on a vehicle that won't be driven for that long.)

That being said, I probably won't be able to get another X5 when I return, so I am trying to figure out what to get next... I am thinking my budget will be no more than $60K...

My current ideas are the new 2022 Jeep Grand Cherokee, or something sporty, but masculine.

What are your thoughts?

finn123 · 02-25-2021, 11:03 AM

IMHO, it’s a bit silly to think about your next car that you’re going to buy in one year. Just sell your current car and forget about that for one year. Once you need a car again, get back to the topic and research options available on the market.

awesoM · 02-25-2021, 11:23 AM

Quote:

Originally Posted by Jrunr

So, I am getting deployed for a year and I have to sell my X5 - which is listed in the member classifieds. (The wife doesn't want to make payments on a vehicle that won't be driven for that long.)

That being said, I probably won't be able to get another X5 when I return, so I am trying to figure out what to get next... I am thinking my budget will be no more than $60K...

My current ideas are the new 2022 Jeep Grand Cherokee, or something sporty, but masculine.

What are your thoughts?

Jrunr Thank you for your service. If you sell the car now, would you not be hit with the depreciation anyways? If you continue to pay, it might actually break even and make sense for you to keep it anyway.

Jrunr · 02-25-2021, 02:31 PM

Quote:

Originally Posted by awesoM

Jrunr Thank you for your service. If you sell the car now, would you not be hit with the depreciation anyways? If you continue to pay, it might actually break even and make sense for you to keep it anyway.

No. I have been paying it down as quickly as I can so I will break even. This deployment came out of the blue so that sucks!

James_G0540i · 02-25-2021, 02:39 PM

Looks like you have a 2019 model, if you have been paying it down quickly and the lease is around or less than $60k why not buy it out and just moth-ball it for the 12-months?

Also with all the uncertainty out there, if you end up coming back early you'll have a car waiting for you...

There's a few things you would need to do to moth-ball it, but if you really like the car I'd keep it. If you dont like it, or are addicted to turning over your car every 3 years with leases, or maybe you now want a more rugged SUV/off-roader - then probably makes sense to get rid of it.

iconoclast · 02-25-2021, 03:28 PM

Quote:

Originally Posted by Jrunr

That being said, I probably won't be able to get another X5 when I return, so I am trying to figure out what to get next... I am thinking my budget will be no more than $60K...

If you liked it that much... Buy a used X5 that is heavily optioned for $60k when you return.

Jrunr · 02-25-2021, 03:45 PM

Quote:

Originally Posted by James_G0530d

Looks like you have a 2019 model, if you have been paying it down quickly and the lease is around or less than $60k why not buy it out and just moth-ball it for the 12-months?

Also with all the uncertainty out there, if you end up coming back early you'll have a car waiting for you...

There's a few things you would need to do to moth-ball it, but if you really like the car I'd keep it. If you dont like it, or are addicted to turning over your car every 3 years with leases, or maybe you now want a more rugged SUV/off-roader - then probably makes sense to get rid of it.

This is not a lease. I purchased this vehicle.

Paladin1 · 02-25-2021, 03:57 PM

Deployment for...12 months? You're probably better off financially keeping the X5 (with a relatively new car if undriven that much) than selling and purchasing a new one. And likely still have a better car. Unless you just want to switch, in which case, a year from now is a crap shoot as to what's available (witness BMW's year of deletions). $60K certainly gets you in the range of American SUVs, and Genesis GV80 is certainly not chopped liver at a base of about $49K, or any of the other Asian imports.

James_G0540i · 02-25-2021, 05:29 PM

Quote:

Originally Posted by Jrunr

This is not a lease. I purchased this vehicle.

So when you say you've been paying it down, then you have a loan?

Jrunr · 02-25-2021, 05:43 PM

Correct.

James_G0540i · 02-25-2021, 08:01 PM

Quote:

Originally Posted by Jrunr

Correct.

If you've kept the mileage low, I'd just pay out the loan and be done with it, but then again only if your heart's in this car and you love it....

I paid out the loan on mine last year, I hate paying interest, so now I own mine outright. I figure this is my car for the next 5-10 years, and my next one will be a full EV or HFCEV (Hydrogen Fuel Cell EV), so I'm done with Petrol/Diesel engines...

Worth waiting a few years, the power-train and technology will look very different in cars 5 years from now !

Jrunr · 02-26-2021, 04:33 PM

I appreciate your advice, but the mental health of my family is the thing that is going to get me through this and if she wants me to sell it, then I will. But it is a hard vehicle for me to let go of...

adr1974 · 02-26-2021, 07:48 PM

give it to a buddy to use for a year and have him/her make the payments.

Paladin1 · 02-26-2021, 07:49 PM

Quote:

Originally Posted by Jrunr

I appreciate your advice, but the mental health of my family is the thing that is going to get me through this and if she wants me to sell it, then I will. But it is a hard vehicle for me to let go of...

Job #1 - take care of the home fires. Thanks for your service, and take care of yourself. Cars and the world will be here when you get back - don't sweat the small stuff.

iconoclast · 02-27-2021, 08:52 AM

Quote:

Originally Posted by Jrunr

But it is a hard vehicle for me to let go of...

as i mentioned above; if that is the case then why not just buy another when you return?

Stoshu · 02-27-2021, 10:02 AM

Do what you have to do to keep the wife and family happy, in my experience deployment was much harder on them than it was on me. I set up yard care and tried to do as much preventive maintenance as I could before I left.

I was lucky enough to be able to call my wife every day, we actually had a phone in my OPS Center that had a local number in the USA, and always talked about what was going on with her and the kids and stayed away from talking about rocket attacks and IEDs.

Good Luck mate and stay safe and hopefully comfortable!

rmorin1249 · 02-27-2021, 04:50 PM

Deployments are never easy. Thanks for your service. I also have a loaded 2019 MSport. Looking at my lease buyout price it looks like with the low mileage expected at lease end it might make sense to buy. If your wife doesn't want yours and you will be deployed for a year it may be best to let it go and save the costs of insurance although depreciation usually declines after the first 2 years. Stay safe.

TurtleBoy · 02-27-2021, 06:49 PM

Quote:

Originally Posted by rmorin1249

Looking at my lease buyout price it looks like with the low mileage expected at lease end it might make sense to buy.

From your latest posts it seems like you are leaning towards buying it. If so, it likely will be quite a bit less expensive to buy it out now rather than wait. You would have to run the numbers in your situation to be sure but generally that is the case given the savings on the lease financing. You can get your current payoff on the BMW Finance set site.

Jrunr · 02-27-2021, 08:50 PM

I’ve already purchased it. But that’s why I need to sell it. It is NOT a lease.

TurtleBoy · 02-27-2021, 08:52 PM

Quote:

Originally Posted by Jrunr

I’ve already purchased it. But that’s why I need to sell it. It is NOT a lease.

Yes I know. My post was to the Col.

Thanks for your service and be safe.

rmorin1249 · 02-28-2021, 07:36 AM

Quote:

Originally Posted by TurtleBoy

From your latest posts it seems like you are leaning towards buying it. If so, it likely will be quite a bit less expensive to buy it out now rather than wait. You would have to run the numbers in your situation to be sure but generally that is the case given the savings on the lease financing. You can get your current payoff on the BMW Finance set site.

We're still discussing if we want to keep it so we're going to wait and see if the residual value is high enough to justify purchasing it. We like it but are not in love with it. Wife still thinks it is too much vehicle for us as we are empty nesters with no pets. If we do not buy it we will look for a smaller SUV or go back to a mid size sedan like an A6, 5 series or Mercedes E Class.

02-25-2021, 10:52 AM	#1
Jrunr Captain 188 Rep 602 Posts Drives: 2019 BMW X5 M40i - G05 Join Date: Oct 2018 Location: Savannah, GA iTrader: (0)	Selling my X5 - What next? So, I am getting deployed for a year and I have to sell my X5 - which is listed in the member classifieds. (The wife doesn't want to make payments on a vehicle that won't be driven for that long.) That being said, I probably won't be able to get another X5 when I return, so I am trying to figure out what to get next... I am thinking my budget will be no more than $60K... My current ideas are the new 2022 Jeep Grand Cherokee, or something sporty, but masculine. What are your thoughts?
	Appreciate 0 Tweet Quote

02-25-2021, 11:03 AM	#2
finn123 Second Lieutenant 159 Rep 272 Posts Drives: - Join Date: Mar 2018 Location: - iTrader: (0)	IMHO, it’s a bit silly to think about your next car that you’re going to buy in one year. Just sell your current car and forget about that for one year. Once you need a car again, get back to the topic and research options available on the market.
	Appreciate 1 volodp199.50 Quote

02-25-2021, 02:39 PM	#5
James_G0540i Captain 446 Rep 810 Posts Drives: 2021 X5 G05 40i M Sport Join Date: Sep 2019 Location: Melbourne, Australia iTrader: (0)	Looks like you have a 2019 model, if you have been paying it down quickly and the lease is around or less than $60k why not buy it out and just moth-ball it for the 12-months? Also with all the uncertainty out there, if you end up coming back early you'll have a car waiting for you... There's a few things you would need to do to moth-ball it, but if you really like the car I'd keep it. If you dont like it, or are addicted to turning over your car every 3 years with leases, or maybe you now want a more rugged SUV/off-roader - then probably makes sense to get rid of it. Last edited by James_G0540i; 02-25-2021 at 03:28 PM..
	Appreciate 0 Quote

02-25-2021, 03:57 PM	#8
Paladin1 Brigadier General 5564 Rep 4,514 Posts Drives: 2022 iX xDrive50, DGM Join Date: Jun 2019 Location: Midwest iTrader: (0) Garage List 2023 iX xDrive M60 [0.00] 2022 iX xDrive50 [9.00]	Deployment for...12 months? You're probably better off financially keeping the X5 (with a relatively new car if undriven that much) than selling and purchasing a new one. And likely still have a better car. Unless you just want to switch, in which case, a year from now is a crap shoot as to what's available (witness BMW's year of deletions). $60K certainly gets you in the range of American SUVs, and Genesis GV80 is certainly not chopped liver at a base of about $49K, or any of the other Asian imports. Last edited by Paladin1; 02-25-2021 at 06:28 PM..
	Appreciate 1 M40i4me1037.00 Quote

02-25-2021, 05:43 PM	#10
Jrunr Captain 188 Rep 602 Posts Drives: 2019 BMW X5 M40i - G05 Join Date: Oct 2018 Location: Savannah, GA iTrader: (0)	Correct.
	Appreciate 0 Quote

02-26-2021, 04:33 PM	#12
Jrunr Captain 188 Rep 602 Posts Drives: 2019 BMW X5 M40i - G05 Join Date: Oct 2018 Location: Savannah, GA iTrader: (0)	I appreciate your advice, but the mental health of my family is the thing that is going to get me through this and if she wants me to sell it, then I will. But it is a hard vehicle for me to let go of...
	Appreciate 0 Quote

02-26-2021, 07:48 PM	#13
adr1974 Lieutenant 128 Rep 415 Posts Drives: 2021 X5 xDrive 40i Join Date: Jun 2008 Location: Maryland iTrader: (0)	give it to a buddy to use for a year and have him/her make the payments.
	Appreciate 1 volodp199.50 Quote

02-27-2021, 10:02 AM	#16
Stoshu Captain 494 Rep 744 Posts Drives: 2021 BMW X5 M50i Join Date: Dec 2020 Location: St. Louis iTrader: (0)	Do what you have to do to keep the wife and family happy, in my experience deployment was much harder on them than it was on me. I set up yard care and tried to do as much preventive maintenance as I could before I left. I was lucky enough to be able to call my wife every day, we actually had a phone in my OPS Center that had a local number in the USA, and always talked about what was going on with her and the kids and stayed away from talking about rocket attacks and IEDs. Good Luck mate and stay safe and hopefully comfortable!
	Appreciate 2 iconoclast7265.50 Paladin15563.50 Quote

02-27-2021, 04:50 PM	#17
rmorin1249 Lieutenant Colonel 819 Rep 1,789 Posts Drives: 2019 X5 MSport 40i Join Date: Jan 2019 Location: Hagerstown MD iTrader: (0)	Deployments are never easy. Thanks for your service. I also have a loaded 2019 MSport. Looking at my lease buyout price it looks like with the low mileage expected at lease end it might make sense to buy. If your wife doesn't want yours and you will be deployed for a year it may be best to let it go and save the costs of insurance although depreciation usually declines after the first 2 years. Stay safe. __________________ COL(Ret), US Army Hagerstown MD 2019 X5 40i MSport Alpine White/Coffee (my 13th BMW) 2015 Mercedes SL400; 2009 Lexus RX350
	Appreciate 0 Quote

02-27-2021, 08:50 PM	#19
Jrunr Captain 188 Rep 602 Posts Drives: 2019 BMW X5 M40i - G05 Join Date: Oct 2018 Location: Savannah, GA iTrader: (0)	I’ve already purchased it. But that’s why I need to sell it. It is NOT a lease.
	Appreciate 0 Quote