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Discussion Starter · #1 ·
The answers I get to this question may be a bit biased, as we know everyone on here loves their Escape, but I figured I would throw it out there anyways...

I received my 2009 XLT I4 4WD Escape in July 2009 as a gift. I recently took sole ownership of the vehicle when I moved to New Jersey and am in the process of having it registered there. I have always wanted a BMW 3 series and told myself I would buy it one day when I had the money.

So here is the question I am asking myself and others, when would be the best time to sell the Escape I now own? The Escape only has 7500 miles currently on it. It is in mint condition and has a value around $20,000. As the years go by, the Escape will depreciate in value. I was thinking of trying to sell the Escape this winter when demand for a 4wd vehicle is higher and purchasing a Certified pre-owned BMW 3 series or maybe leasing a new BMW 3 Series with the money I get for the Escape.

I have no problem keeping the Escape for a long time, but ultimately I want to own a 3 series. So is now or later the best time to act upon this? Should I start to set aside money for a BMW in a separate account and then sell my Escape?

Thoughts?

Thanks!
 

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The only "right" time is when you don't have negative equity against the Escape. If your current vehicle is free and clear, than you can do what ever you want. It's your money and you should be driving the vehicle you want.

Remember a car is never an investment.. Buy what you want and enjoy it... My only advice
 

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sleeve said:
The only "right" time is when you don't have negative equity against the Escape. If your current vehicle is free and clear, than you can do what ever you want. It's your money and you should be driving the vehicle you want.

Remember a car is never an investment.. Buy what you want and enjoy it... My only advice
+1000
 

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sleeve said:
The only "right" time is when you don't have negative equity against the Escape. If your current vehicle is free and clear, than you can do what ever you want. It's your money and you should be driving the vehicle you want.

Remember a car is never an investment.. Buy what you want and enjoy it... My only advice
:thumb:

I agree with this 100 fold

My only other advise is....do NOT lease, unless you have tons of cash laying about....leasing (at least from my knowledge of others who had done it) can be more hassle than they are worth, you are better off purchasing a car than leasing. A car you buy you will eventually pay off. With a lease....you are pretty much paying for a car you will probably never truly own.
 

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sleeve said:
The only "right" time is when you don't have negative equity against the Escape. If your current vehicle is free and clear, than you can do what ever you want. It's your money and you should be driving the vehicle you want.

Remember a car is never an investment.. Buy what you want and enjoy it... My only advice
cheer! :rockon:
 

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The problem with trying to sell the Escape outright, is that there are so many deals out there for new cars with 0 down 0% financing..blah..blah..blah. In this economy, thats much easier to do than take a loan for $20,000 or empty ones bank account. It appears to be a buyers market.
 

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I always figure there are 2 good times to sell a car for the average person:

- sometime around the 4 year mark when your loan is paid/nearly paid off and you have some equity in the car for a downpayment on the next one. The car you're selling also has some warranty left which eases tension with the buyer and helps you get a decent price.

- OR - sometime around the 8 year mark provided you aren't over either 100,000 miles or somewhere around 150,000km (not an exact translation I know but it is a visual thing for the buyer). You've had a few years of no payments and low ownership costs and you'll still probably get enough for a decent downpayment on the next car. Plus, it is worth about the same at this age as it was at 6 years old.

Once you break 100,000+ miles, and certainly 200,000km (120,000 miles) you might as well drive it until it dies. Its worth more to you than anyone else.

And leasing is only a good idea if you get a tax break for it or your credit rating won't allow you to assume a larger loan (but then maybe you should buy a cheaper used car....). Otherwise those low payments will cost you big time in the end
 

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sleeve said:
The only "right" time is when you don't have negative equity against the Escape. If your current vehicle is free and clear, than you can do what ever you want. It's your money and you should be driving the vehicle you want.

Remember a car is never an investment.. Buy what you want and enjoy it... My only advice
I agree. I plan on paying off our Escape's note and driving it until it either dies or I am forced to put it out of its misery. The best car to own is the reliable one without a payment.
 

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Discussion Starter · #10 ·
Thanks for the tips everyone. I am going to start looking at some CPO BMW 328xi's this weekend and see what they are asking for them. My goal is to get as close as I can to an even swap for the Escape. I know this will be difficult, but I am in no rush.

I will keep you posted on my findings! If I cannot get the right price anywhere I will be keeping my Escape.
 

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Discussion Starter · #11 ·
So I went to a couple BMW dealerships this weekend, and test drove a 328xi. It is a very nice car, but they were only offering me 18 grand for my Escape, which is too low for me to part with my Escape. It only has 7600 miles on it and is in excellent condition. So for now I am going to keep my Escape and save up money.
 
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