Cars. What does the typical audiophile drive?

We presently own two used BMWs. Our 2000 540i is honestly the best overall car we've ever owned in terms of performance, driving experience and comfort. No one appreciates the BMW four year free service, and six year (for a certified used) warranty more than us. We've probably had nearly $10k in repairs done on the 540i under warranty. My 2003 330i has had at least $5k in warranty repairs. It's year seven when the chickens come home to roost, and the hefty BMW repair bills begin to make a dent in the wallet. Until then, a BMW is a great vehicle.

My wife wanted an X3, and I said it was time we looked at alternatives.

I agree on the BMW warranty, it's the only way I would have invested in this vehicle.

No doubt the Honda would have been great because they are pretty much bullet proof, but every brand of car deprecates when you drive it off the lot and Honda is no different.

I figured with $5K down the BMW was set for little or no depreciation, I think payments will keep up with lost value, meaning I could get out in three or four years and owe nothing. If I keep it perfect, I might even get some money back.

All automobiles are a depreciating investment, the best one can hope to do is get something reliable that you enjoy and hope you can operate it with as little loss as possible. As you say, with the stunning BMW warranty I know I will only make payments, no repair bills at all.

The Honda was a close second. Good warranty and even after warranty it would likely give no problems, but the $40K was a choker, I remember when Toyota and Honda were bargains. Hard to imagine they now cost more than a 1.5 year old BMW X5 with Navigation and rear seat DVD system.

Like all luxury cars, the Doctor that owned the BMW before me took the big hit, I've owned BMW's before and although I've only gotten in 4 months driving experience, it's a hell of a vehicle to be a SUV.

I guess the difference with us is that we buy our cars with cash. We don't lease them, and we don't finance them. We also look to keep them long term if possible, which is why reliability and fewer repairs is important. We are very much in favor of buying used and letting someone else take the depreciation hit.

It's amazing to me what one can buy today. $38k for a 2004 Mercedes SL500 that originally sold for $95k...but what will the repair costs be?

$40k for a new Honda is ridiculous.

09-04-02: Macrojack
My wife says I'm the only guy in America who paid more for his refigerator than he did for his car. I drive a 1987 Toyota Camry sedan that just turned over 200K miles and there's a Sub Zero in the kitchen.
She drives a 1987 Camry wagon.
Financially speaking cars are a loser so we don't allocate funds to them unnecessarily.
Dream car would be free to own and operate.
Macrojack (Reviews | Threads | Answers)

I still have both of these cars. I spend maybe $500/year per car for repairs and maintenance. The Camry sedan now has 275,000 miles on it and it doesn't burn any oil. I haven't made a car payment in 20 years. Of course, these cars aren't exciting, don't turn heads, and fall short on modern features, but they allow me to work part-time and buy other things that matter more to me. Still have that refrigerator too.
I'm probably not typical.

I owned a 1995 Camry. It was a great car. Boring as hell. I'd consider owning another, but the present design is too fugly, IMO.

The Camry still required warranty work, and cost my sister-in-law, who purchased it from us, a few thousand dollars in repairs until she gave it up because it was going to cost her a few thousand more.

I read accounts of people all the time who own brands of cars I own or have owned over the years, who tell stories of hundreds of thousands of care-free miles on their cars. I keep hoping that one day I will own one of those cars, but it hasn't happened yet.