Goodbye Genesis 5.0

[gaggan82]

Traded my 2015 Genesis 5.0 Ultimate .
I enjoyed my ride for 3 years but it was time to move on.
For all of those who are contemplating- its a great car and excellent bang for the buck !

 

[genesis333]

What's the new ride?

 

[DWIL80]

Yeah man, don’t tease us like that! Also, what made you trade it in? Do you get bored (like me) after a few years, or was it something else?

 

[gaggan82]

I did get a little bored. Fortunately, I never had any issues with the car. Also, I wanted something faster
I got a 2018 bmw M550i

 

[DWIL80]

That is sharp!

 

[glennk]

Did you lease the BMW??

 

[gaggan82]

Thanks !
No, I purchased it- pre-owned.

 

[silberma]

Smart people purchase pre-owned because BMW's have a very high depreciation. Also once the warranty is over the repair and upkeep costs are out of sight. An oil change is over $200.
The car handling is not significantly better than the Genesis.

 

[gaggan82]

Smart people purchase pre-owned because BMW's have a very high depreciation. Also once the warranty is over the repair and upkeep costs are out of sight. An oil change is over $200.
The car handling is not significantly better than the Genesis.

I agree with the depreciation factor- it goes for all the brands. I have bought most of my cars pre-owned.
But, I will definitely say that handling-wise , nothing comes close to BMW. Genesis is a great car - well rounded with great features for a lot lower price. I had the V8 ultimate and it was fun to drive too. The only thing which I missed was the handling. But, the target audience for Genesis is not those who are looking for excellent handling. They designed it as a luxury car and not a sports sedan and they did pretty good.

 

[Dthomas1]

How much did you get on trade?

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[gaggan82]

How much did you get on trade?

$22,300 with 35,400 miles on it.

 

[1FstYota]

$22,300 with 35,400 miles on it.

God that depreication is horrid, but on a different note I'm digging that M550i, I like those a lot too. With an exhaust, downpipes, and a ecu tune that thing will make over 500 to the wheels pretty easy.

 

[gaggan82]

God that depreication is horrid, but on a different note I'm digging that M550i, I like those a lot too. With an exhaust, downpipes, and a ecu tune that thing will make over 500 to the wheels pretty easy.

I had bought it pre-owned, so not too bad in terms of taking the hit for depreciation.
M550i shares the same engine as the current M5- just tuned down ( 456 HP / 480lb-ft) . I know that just stage 1 Dinan update takes it to around 600 HP.
But as of now I'm pretty happy with the torque - especially since it comes in very low RPMs( 1800)

 

[1FstYota]

I had bought it pre-owned, so not too bad in terms of taking the hit for depreciation.
M550i shares the same engine as the current M5- just tuned down ( 456 HP / 480lb-ft) . I know that just stage 1 Dinan update takes it to around 600 HP.
But as of now I'm pretty happy with the torque - especially since it comes in very low RPMs( 1800)

Man enjoy, I want one too lol.

 

[carguy75]

I did get a little bored. Fortunately, I never had any issues with the car. Also, I wanted something faster
I got a 2018 bmw M550iView attachment 14628

Sexy car!!! I love BMW styling, but not the cost of owning one out of warranty. I almost pulled the trigger on a used one a few times over the years until I read the BMW forums. My god, how could should beautifully engineered performance cars fall apart like GM automobiles, yet cost thousands to repair. I only like the V8 engines, but timing chains and other serious problems always turned me away from them.

I would only lease a BMW unless the 2018 models are design to provide reliable operation past the warranty.

Hopefully, the 2018 models are better because I love the ride you have.

Take care and good luck. Never know I may meet you again in the BMW forum in the next few years if the current BMW models are more reliable.

 

[carguy75]

Thanks !
No, I purchased it- pre-owned.

What???? Purchased????You should have waited about a year or two in my opinion and probably get that car a helluva a lot cheaper. Oh well. I may pick up a 2018 in a few years for nearly half the price. I am patient like that.

Most likely a Genesis G80, unless BMW step up the reliablity.

 

[gaggan82]

What???? Purchased????You should have waited about a year or two in my opinion and probably get that car a helluva a lot cheaper. Oh well. I may pick up a 2018 in a few years for nearly half the price. I am patient like that.

Most likely a Genesis G80, unless BMW step up the reliablity.

Well, like any other car, the more you wait the more the price depreciates. I did save almost $18K on the sticker price.
I usually don't keep my cars for longer than 3 years, so usually right when they run out of warranty.

 

[carguy75]

Well, like any other car, the more you wait the more the price depreciates. I did save almost $18K on the sticker price.
I usually don't keep my cars for longer than 3 years, so usually right when they run out of warranty.

So true. All car depreciate in value over time unless they become rare classics which is then the opposite.

Waiting does get you a better deal in some regards, but some luxury cars can still be costly to own used if you have to deal with a car with many out-of-warranty problems. Most warranty coverage are over by 100k miles, factory or aftermarket. So any problems after 100k miles is usually out-of-pocket. Therefore, buying used luxury cars can cost you more that buying new if you buy the wrong one.

Furthermore, not everyone wants to wait for a car to get old before buying one. I used to like the new car smell until I noticed that I was paying twice as much for car loans just to have the newest model which was sometime barely different than a model a few years older. Now I just buy loaded 3 year old models every 3 three years or so.

I love BMW performance and styling. Most likely always will, but I refuse to buy a new one due to depreciation and most of the pre-2014 models has a bad reputation for leaving you stranded on the highway. The 2014 and newer BMW models is still too new to gauge in terms of long term reliability, but seems really promising from what I read.

The same could be said of Mercedes as well. I owned a 2002 AMG E55 that had nothing but electrical problems. The drive train was pretty solid, but the electronic issues were too much. I bought it used in 2005 for about $27k and it depreciated to less than $20k trade-in about two years after I owned it. Luxury cars in general just lose value really quick.