Why Buying a 2008 BMW X3 in 2013 is a Smart Move

The Allure and Financial Implications

The 2008 BMW X3 is undeniably attractive, but this allure can be a double-edged sword for your finances. If you're not cautious, the temptation to own one could strain your budget. However, with numerous financing options available today, driving a 2008 BMW X3 could be more feasible than you think.

Why a 2008 Model is a Great Deal

1. Depreciation: One of the most significant advantages of buying a 2008 model is the reduced price. New cars depreciate rapidly, losing about 20% of their value in the first year and up to 60% after five years (Edmunds). This means you can get a luxury vehicle at a fraction of its original cost.
2. Value Retention: Luxury vehicles like BMWs tend to hold their value better than non-luxury cars. According to Kelley Blue Book, BMWs are among the top brands for resale value (Kelley Blue Book).
3. Quality and Maintenance: Owners of luxury vehicles are more likely to maintain their cars meticulously. This means that a pre-owned BMW X3 is likely to be in excellent condition, offering you a high-quality vehicle at a lower price.

Economic Realities and the Case for Used Cars

The average consumer, often referred to as the "99 Percenters," typically cannot afford a brand-new luxury vehicle. With wages stagnating and the cost of living rising, buying a new car is out of reach for many. According to the Bureau of Labor Statistics, the median household income in the U.S. was around $51,017 in 2012, making the purchase of a new luxury vehicle impractical for most (Bureau of Labor Statistics).

The Benefits of Buying Used

1. Affordability: Used cars are significantly cheaper than new ones. This makes them a more viable option for the average consumer.
2. Depreciation: As mentioned earlier, used cars have already undergone the steepest part of their depreciation curve.
3. Insurance Costs: Insurance premiums for used cars are generally lower than for new cars, adding another layer of savings.

Shopping Smart: Where to Buy

To get the best deal, it's advisable to purchase from a dealership that specializes in pre-owned luxury vehicles. These dealerships often offer certified pre-owned programs, which include rigorous inspections and extended warranties.

Why Dealerships are a Good Choice

1. Quality Assurance: Dealerships often provide certified pre-owned vehicles that have passed comprehensive inspections.
2. Financing Options: Dealerships usually offer various financing options, making it easier to afford a luxury vehicle.
3. Trade-In Opportunities: Many dealerships offer trade-in options, allowing you to offset the cost of your new purchase.

Conclusion

Buying a 2008 BMW X3 in 2013 is a smart financial move for the average consumer. With significant depreciation, excellent value retention, and meticulous maintenance by previous owners, this vehicle offers luxury at a more affordable price. Given the economic realities, opting for a used car is a practical choice that doesn't compromise on quality.

Interesting Stats

• Depreciation: New cars lose about 20% of their value in the first year and up to 60% after five years (Edmunds).
• Resale Value: BMWs are among the top brands for resale value (Kelley Blue Book).
• Median Household Income: The median household income in the U.S. was around $51,017 in 2012 (Bureau of Labor Statistics).

By considering these factors, you can make an informed decision that balances luxury and affordability.