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Toyota or honda when you get there
Crown Victoria
If the BMW is paid off why do you need to replace it? Just run it till it dies.
Because there are known issues with the engine and I don’t feel comfortable taking long road trips. Plus, more mileage will lower its resale value.
What do you mean by a ticking time bomb?
It depends on how many miles you have on it. You would need a change of brake pads every 40 - 50k miles and an oil change every 10k miles. Wiper inserts every year. In my opinion bmw is cheaper to maintain than Japanese cars that need oil change every 5k miles.
This is based on the assumption that you have the car from the good batch. If you have a car that is a trouble maker ( frequent visits to service), now is the best time to get it replaced.
The used Toyotas and Hondas are over valued at this time.
N54 is a disaster dude, why are you even asking in the FIRE bowl not the Beemer petrolhead one ? Lol get rid of it, newer generation have much better designs and same fun if not more
Get a Lexus RX 350.
So is a BMW, this one is headache free (for the record: I have an fully loaded X5 😅)
Drive the Bmer til it’s not worth it to repair anymore. In the meantime, set aside for the fire car and just pay cash when the time comes. I find the best way to save money is to exhaust the value from what you already own first.
This makes sense in certain scenarios, it will depend on the car condition, how u drive / take care of it and luck. I have a BMW that was running so smooth till my wife drove it for a couple of months then the whole engine needed to be taken out to get reassembled. You don’t want such risk
The answer is always Prius.
All jokes aside, part of your FIRE plan should account for some amount of money in either repairs or replacing a car. If you allocate say $3k per year, you can keep most cars on the road for less than that, and then every 5 to 7 years, just buy a newer used car (3 to 5 year old car with 50k to 75k on the clock) and repeat. Over time, you will probably tend to drive less, so you can keep your car for longer as that diminishes.
How about Tesla Model 3? It’s cheaper to run and very minimal maintenance. Holds its value more than the Toyotas and Hondas.
Join the Corolla gang. Love my car. Love BMWs as well but they’re too expensive for repairs when you need it IMO.
Bought a Honda accord hybrid. Fuel efficient and will last forever