Essentially I am contemplating whether to drive my current car into the ground and not getting anything for it when and if it gives up the ghost, or make as much as I can from it now (i.e. sell it for what I bought it for - I bought mine from the east coast and saved 10-15k here on the west coast of Australia for the same car) and upgrade either to a lower mileage 330 or a slightly higher kilometer 350.

 

Will it cost you either way $10,000 to upgrade to a lower mileage 330 or a higher mileage 350?

 

If you're happy with the car, I'd keep it. In fact, that's exactly what I'm doing. I've got a 2000 BMW 323i and have gotten the new car bug numerous times over the past couple of years. But I can't afford to get something new (<2 years old) that's to my linking right now, and it doesn't make sense to upgrade to a newer version of what I already have (a 325i, for example)--too much outlay for not enough benefits, plus going from a solid car that I know is reliable to a big fat question mark.

It came to a head this year when some long-term maintenance items that I had been putting off needed to be done. Do I trade in for a new or different car, or plunk some cash into mine? After a few months of debating, I went ahead and spent around $2500 putting a new suspension into it, and then another $600 or so on a set of tires. I've now got a 10-year-old car that drives better than the day I took it off the lot, and put off the need to buy (thereby avoiding a hefty car payment) for at least another few years.

The point of all this is, you don't gain enough by going up a couple of years to warrant dropping an extra $10k to essentially replicate what you have (likely with less equipment). I know you're worried about resale, but do you really think the value of your current car will drop by $10k from where it is now when you roll over 200,000 km? I highly doubt that. That $10k can better help you get into something even newer and nicer on down the road, and in the meantime, you still have a car you enjoy.

 

It will cost me about $10K either way.

I know the problems with resale over here, I had trouble selling my ES300 that was over 200,000km's and had to drop the price significantly to get it sold. We tend to be very "strict" on higher kilometer cars. I know different, but a lot of people don't unfortunately. Some people like to see if a car that is 20 years old has low k's (they're just silly).

 

A lot of people think more on model year and not on mileage. Mileage is the real barometer of the condition of the engine. Which to so many people, do not matter.

 

Why not just keep your car until it's on its last legs? Don't worry so much about the resale value, especially if it is going to cost you $10,000 to upgrade.

If you upgrade, you would probably be in the same situation about the resale value in a couple of years?

If you have a generation 3 Navigation you can upgrade to Generation 4 by looking for that ecu on ebay.

Unless you have some mechanical issues, I would just recommend keeping your car and not worrying so much about resale.


Look at this way: Let's say you sell your car for $15,000 and you pay $25,000 to upgrade. Now in a couple of years will you be able to recoup the extra $10,000 that it cost you to upgrade if you decide to sell? If so, then go for it, if not, just keep your Rx, and upgrade the headlights and Navigation

 

Well said. I did the same thing, I spend a little over $2000 on making my Rx brand new again. Tires, brakes, new axles, 120,000 miles service, transmission drain, etc..now the car drives perfectly and I don't ever think about upgrading it.

 

Best $2k investment made.

 

I could never see going to another used car if you change out cars go for a new one with more than what you have now. If money is the thing that is holding you back then keep what you have and enjoy it until it will not go then find you what you need it might be gen 4 by then . Start to save up the money you would had to have pay for car payments then when it is time to change you will have most if not all the money ready to go for that new ride. Our car paid out last March and I have been paying the car note to me and not the bank in two weeks when the new 450h shows up I will be able to have a 60k+ 450h for less than I paid for our RX330 with the trade and the money that is set aside.