Houzz Logo Print

Selling nearly new car practical?

10 years ago

Last year I bought a brand new BMW which I love! I am a German car fan, but that had meant 2-3 yo VWs. This is my 1st true luxury car, but it's a fast fun sexy hatchback. I love everything about it.
Lately though, I have been thinking seriously about selling this car and buying something less expensive. It feels like an extravagance when we have 2 kids heading to college in the next 3 years. We also have a paid for "weekend car" Wrangler that DH loves which girls are learning to drive and will have access to as needed but I don't think the Jeep is safe for new drivers. DH has a daily driver company car that only he can drive. DD1 will have her driver's license in 4 months and DD2 is a year behind her. They will not be allowed to drive the BMW, so we have to buy a used car for them to share. We'll pay cash.
I found a 2006 Audi A3 with 116k miles for 8k. I like the look and handling of this car and wouldn't feel like I was stepping down performance wise. I could sell the BMW, use the equity (the car has lost about 20% of it's value this year, so we're taking a big hit) towards the Audi, and pay it off in a few months. If the Audi proves reliable I can keep driving it and buy DDs a car as planned, or give them the Audi and find a newer car for myself. The girls would have two cars they could drive so maybe we would wait another year to get their car. That would save nearly $1000 in insurance alone.
The big risk here is that the Audi is a lemon. It put about 15k miles a year on my car. The idea of an expensive repair on a 8 yo car worries me. I haven't driven a car out of warranty in almost 20 yrs. Is it impractical to buy a car with so many miles? Am I being shortsighted somehow? I also think DH is emotionally attached to me having the BMW. Did I mention he gave it to my for my bday last year? Yeah, that may be an issue too!

Comments (33)