renewing COE of E60/525

[japboy]

Hi all,

I have been struggling with whether to renew my COE when it expires in April 2018. My mileage is only about 108k now and condition of car is good. I am pretty much the first owner have not had to replace anything major to date.

During my last servicing recently, PML informed that wear and tear was catching up with me and I need to replace engine mounts, tension struts, control arms, upper control arms, guide arms thrust rods for front stabilizers, radial oil seal and replace oil pan. Bottom-line, they recommended me to buy new car and forget about renewing COE. Recently, my air-cond blower also acting up.

My scrap value is around 31k. If it assume renewing COE at 50k and adding in 10k for fixing all the issue above, it will only come up to about 90k - 100k. This is still much lower than buying a new 5 series.

Therefore I am thinking of renewing. I do like the car as well. However, almost everyone I speak to advise me against renewing saying that BMW is sure to have big problems after 10 years and scrap value is too high to give up.

Am I too sentimental to see that I have dodged the bullet in terms of repairs and I should just let the car go and get a new car, perhaps VW or a Jap car ?

Thanks for any feedback.

 

[ac323]

seems like you have an answer..



renew it then..
cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

 

[Citizen69]

Hi,
very much understand your predicament as I went through almost the exact scenario.

Most of the parts you mentioned I have already changed in the past year so not too worried about them. I had ran 215K on the ride and it was time for the mechatronics and physical gears to be replaced, if the COE was to be replaced. It was a good 6-7K repair item.

My dilemma was, I left 1 year COE. If i repair them now, then I will definitely extend the COE, and probably spend another 5-6K or even more to spruce it up (sagging leather seats, drooping roof lining, disintegrating dashboard rubber and handles

At S$13K depreciation a year, it is a far cry from the current S$16-18K for F10, and about S$22-23K for G30. Not an option for the family finances right now.

I was just planning to do that (extend COE) till i walked into another continental car showroom where they had a great promotion and a very obliging sales person. Coupled with 5 year warranty and it all worked out to be about the same depreciation as the good ol' E60 (although it was a smaller car, just bigger than the 3 series). Although the trade in was terrible, I had to say goodbye to a great drive after 5 years.

The point is, you have to work out the sums yourself, and discuss with your partner (if you are not single) and make the decision based on all these (warranties, other failing parts, trips to workshop etc). The important thing is to never look back after that.

Wish you all the best.

 

[japboy]

seems like you have an answer..



renew it then..
cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

----------------

Thanks ac323. You caught my bias to renew and that's probably the rationale for your response...but what is holding me back is two things -

a) the concern that I am not facing up to the reality that there will be significant repair expenses down the road and the interior will also be deteriorating quite a bit between mileage 120k - 150k/10 - 15 years. I had budgeted in my mind around 10k but I really have no idea of what can be expected for this kind of car. if the failure time of most parts is around that time then it would be expected that i will have to spend more.

b) financially consideration - the depreciation will only start making sense if i keep for at least 5 years - 13k, assuming COE renew at 50k

Wondering if you have any thoughts on these points. Want to do my homework before I decide. If i don't renew will likely get a VW or Jap car.

thanks in advance and I appreciate your advice.

 

[japboy]

Hi,
very much understand your predicament as I went through almost the exact scenario.

Most of the parts you mentioned I have already changed in the past year so not too worried about them. I had ran 215K on the ride and it was time for the mechatronics and physical gears to be replaced, if the COE was to be replaced. It was a good 6-7K repair item.

My dilemma was, I left 1 year COE. If i repair them now, then I will definitely extend the COE, and probably spend another 5-6K or even more to spruce it up (sagging leather seats, drooping roof lining, disintegrating dashboard rubber and handles

At S$13K depreciation a year, it is a far cry from the current S$16-18K for F10, and about S$22-23K for G30. Not an option for the family finances right now.

I was just planning to do that (extend COE) till i walked into another continental car showroom where they had a great promotion and a very obliging sales person. Coupled with 5 year warranty and it all worked out to be about the same depreciation as the good ol' E60 (although it was a smaller car, just bigger than the 3 series). Although the trade in was terrible, I had to say goodbye to a great drive after 5 years.

The point is, you have to work out the sums yourself, and discuss with your partner (if you are not single) and make the decision based on all these (warranties, other failing parts, trips to workshop etc). The important thing is to never look back after that.

Wish you all the best.

--------------
Hi,

Much appreciate your rather detailed response. Looks like I am really under using my car at 109k compared to your 215k !

I also do not see an option to get another beemer at 18 - 22k depr under current financial situation so if i do not renew will need to buy something else unless COE fall dramatically...

Did you have to do much other repairs besides the ones above between 100k to 200k ?

Which car did you finally get ?

thanks.

 

[ac323]

Re-new then get another car ( Rooooooooooooooofless )











cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

 

[japboy]

not sre what you mean..

 

[japboy]

Any bros have renewed COE recently and any experienced to share ?

 

[Citizen69]

--------------
Hi,

Much appreciate your rather detailed response. Looks like I am really under using my car at 109k compared to your 215k !

I also do not see an option to get another beemer at 18 - 22k depr under current financial situation so if i do not renew will need to buy something else unless COE fall dramatically...

Did you have to do much other repairs besides the ones above between 100k to 200k ?

Which car did you finally get ?

thanks.

The E60 was one of the 2 vehicles that I have drove for more than 2 years and still enjoy the ride. All the others are like after 1-2 years, you dont find thrill in the ride. I missed it even still... oh well.

Yes, finance is definitely a major factor in the ride beyond the end of COE (for my family at least, we target not to exceed 20% of disposable income)

Renewing is definitely one of the option that we can consider, unless the 'image' thingy is important to you. Of course you may get a loan for the COE but the repairs and changing of other stuffs you need to pay in cash, which can be quite restrictive to your cashflow.

In between 100K-200K, the usual are the seals, mountings, shocks, ATF, HID bulbs, sparksplugs, rear axle oil blah blah. My average expenditure for maintenance for the last 2-3 years is about 3-4K per year, including servicing. If I continue with the COE, then it will jump by another 4-5K for the mechatronics, and gears. Not to mentioned that I have never done engine overhaul as well... lol lol

Just got my passat recently. Not a great looker, but so far pretty impressive for my standards, compared with my E60 520iXL

Cheers!

 

[insomic]

Don't bother, you need a additional 30k min to fix all the problem that currently exist and yet to exist.

How I know? My buddy as spend that amt to date after renewing and driving it for 1.5 years