A couple years ago I purchased a used BMW 335d - an amazing car due to its combination of performance and efficiency. I have a 100mi round trip commute to the office and thought this would be a perfect car for me as it is fun, reliable, and efficient. I love the car but it has had some major issues and I am highly thankful for the CPO 100k mile warranty that has paid out as much as the car's value. I will soon hit 100k and know that the risk is too large for me to keep this car without a warranty. I have two options, sell it or get an extended warranty.
While thinking on the topic I had another idea, what if I rented a car rather than buying? It would be like leasing without the regular maintenance, acquisition fees, down payments, and mileage limits while providing me with a new(ish) car.
As an Avis CC I typically drive nicer cars equivalent to what I would personally choose and when I want/need something special I can often exchange for that just by talking nicely to the rental agent. On an annual basis I average 1 week a month out of town and could, for all intents and purposes not pay for airport parking that week by returning the car.
Here is my math:
Currently I pay $550/mo payment + roughly $165/mo insurance + maintenance (has been covered previously but figure between tires etc. $1000/yr) $85/mo = $800 mo total
Renting based upon 4 weeks a month and not accounting for the one week per month where I don't require the car.
Average intermediate size weekly rate: $175 inl taxes (airport branch is most convenient so I pay a few dollars more – rate is as low as $130 as high as $200 during peak season but average is under $175)
I would add extra insurance coverage for non-owned vehicle to our second car covering us for rentals (even though I rely upon my Chase Sapphire) $10/mo
$710/mo total
Has anyone else contemplated the same and if so what did you ultimately decide? I will be at a break even on value by year's end to sell my 335d.
TIA.
