So I bought a CPO 2021 BMW 530e in February with 17k miles and had it since. I don’t drive much, only put 4k miles on it since, and paid about $47K (which seemed like a good deal at the time) and put $5k down. I also did a 72 month lease, and definitely don’t think I’ll want the car another 5 years.
I’m worried the car market will keep tanking and got an offer for essentially my exact Loan amount of $37.6K from vroom, so essentially I’ll paid off the loan, but have technically spent $5k plus 7 payments ($10kish) to own this car for 8-9 month which seems stupid, but again, maybe better to sell now then potentially lose more later?
Let me know your thoughts, would greatly appreciate it.
If you’re worried about having spent $10k and nothing to show for it if you sell, that number will only go up the longer you hold on it.
Do you need a car? If it’s just parked, can you put it for rent on Toro? Is there an active BMW CCA chapter where you live? If so, that’s a good way to get miles on it from cruises to other social events.