Hey from a brand new comer!
Lately I could not resist my urge to personal a 8 collection and I’m looking by the 2nd hand market. I need to run some numbers and concepts with of us right here to see if I missed something.
I can discover some 840 with 40k miles vary with worth of $44k-$50k, which match my funds.
I most likely will not personal the automotive for a very long time, the concept of excessive price of upkeep scares me. I simply need to drive it for enjoyable for a yr and promote it. I’ll most likely put at most 6000 miles on it.
To illustrate I purchased a automotive for $46k, and if I can promote it for $38k, then my complete price of 1 yr possession can be:
$2k insurance coverage, $3.7k tax (8% charge), and $8k ($46k-$38k) worth distinction, that is complete $13.7k.
How a lot ought to I allocate for repairs and upkeep?
Does these numbers make sense? Is there higher option to do personal a 8 collection?
Any suggestion is appreciated!
Thanks!
