LR has always seemed to be a great place to get "life" information...so here goes:
I own a 2007 BMW 328xi with 90k miles. Needs a new steering rack and CV joint, so repairs costs are looking to be about $2,500-$3,000. I dropped another $3,000 on repairs a little over a year ago (water pump, spark plugs, other stuff). I'm really frustrated and wondering how much longer this will go on. Obviously repairs costs on foreign cars keep piling up as mileage gets over 100k (I drive 12-15k miles a year).
I'm debating whether to keep it and keep repairing it as long as possible, which was my original plan when I bought it 4 years ago, or trade it in and lease a cheaper car, like a Camry or Civic. Took it to the dealership and quickly realized they're going to try to screw me on the trade-in: they were initially offering the equivalent of $3000 (seriously) - $299 for a 2-year lease for a 2014-15 Camry LE (loaded - $30k MSRP). Bargained them down to $99/month for 2 years, no money down.
Basically I'm trying to compare (1) the $2,400 total cost of leasing the car for 2 years versus (2) the costs to maintain/repair the BMW less the sell price of the car in 2 years. Initially looked like a slam dunk to trade it in, but now I'm having second thoughts. Thanks in advance!