Drive a $65k BMW for $15k
Pros:
Can find a great price, looks much newer, all it's supposed to be.
Cons:
Cost of maintenance, repairs.
The Bottom Line:
Buying a used luxury car is a bargain, it's still fun, and the BMW 7 series is worth serious consideration.
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Overall Rating:
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Author's Review
I decided I would never buy a new car again and watch ten of thousands disappear in depreciation. Took a chance on buying this newer body style '95 740i for the price of $15k. There are a lot of them on the market now, and the body style is somewhat timeless.
Great luxury car for someone who appreciates a car made for drivers and finds the Japanese cars to be confining or boring. That said, it isn't the biggest car on the inside but will transport a family or business team in reasonable comfort. Much nicer interior than an MBZ of the same era. Lots of luxury items, many unique to BMWs, and a big V8 that really shines on long freeway trips. It's capable of being a very fast car, though acceleration is not breath taking at all. Finally, the mileage is surprisingly good, especially for the V8. On long trips I've averaged better than 25 mpg, and the climate control is simply excellent. The auto stick is a fun option at first, then you tend to ignore it.
Repairs/maintenance cost is an obvious issue, like $85 for an oil change (10,000 miles). But, I'd rather pay a few hundred dollars for routine maintenance and a few expensive fixes than have a maintenance free car that is depressing to drive. The BMW is anything but depressing. So far it's been an excellent purchase, the little fixes are immaterial compared to the overall quality of the design, ride and BMW vibe.
