Easterns Blog

The BMW X5 stands as a premium midsize SUV, renowned for its blend of performance, comfort and sophistication. Boasting a powerful engine lineup, upscale interior, cutting-edge technology and dynamic driving capabilities, the X5 is a coveted choice for those seeking luxury in their daily commute.

Price Analysis of the BMW X5

A new BMW X5 base model typically starts at around $65,000, but with options and upgrades, the price can easily climb to over $100,000. This initial investment is significant, but it’s important to remember that it’s just the start of the ownership costs.

Insurance for the BMW X5 is another area where costs can escalate. Because of its high value and the cost of repairs, insurance premiums for the X5 are typically higher than those for non-luxury vehicles. The exact cost will depend on a variety of factors, including the driver’s age, driving history, location and whether they choose to add on riders/endorsements. Shopping around for insurance quotes may let drivers find lower rates, but no matter where you go, insuring a BMW X5 will be more expensive than insuring a less luxurious vehicle.

Maintenance and Repairs

Renowned for its performance and luxury, the BMW X5 incurs higher maintenance expenses compared to non-premium, domestic brands. Regular servicing and repairs with imported replacement parts contribute to the total cost of ownership. BMW’s renowned engineering is known for being complex, which means certified repair and maintenance professionals require special training and tools.

Extended warranty or service packages may help defray some covered repair costs if a vehicle is eligible, but warranties can become expensive as well, and not everything will be covered by the warranty.

Depreciation Concerns

Depreciation should be factored into long-term vehicle value and repair calculations. While all vehicles depreciate, luxury vehicles like the X5 often experience more rapid depreciation. Depreciation is particularly steep in the early years of ownership, which is why drivers who want to avoid the high cost of depreciation benefit from shopping for pre-owned BMW X5 models.

Depreciation may also factor into decisions regarding high-cost repairs. There can be scenarios where the cost of a repair doesn’t make sense given the value of the vehicle and its remaining usable life. This can be a more common issue on luxury models that require imported parts and specialized repair services.

Estimated Total Cost of Owning a BMW X5

Initial Purchase Price

• Base Model: New models start at approximately $65,000, although lightly used X5 models can be found for far less in the Baltimore and Washington D.C. areas.
• Fully Loaded Model: A new BMW X5 with premium trims and features can exceed $100,000.

Insurance Costs

• Annual Premium: Roughly $1,500 – $4,000 per year, depending on factors like the driver’s profile and coverage level.

Maintenance and Repairs

• Annual Maintenance: Expect to spend around $1,000 – $2,000 per year for regular servicing.
• Repairs: Over the course of 5 years, maintenance and repair costs could increase an additional $3,000 – $6,000, depending on the extent of repairs or manufacturer-recommended maintenance for mileage milestones.

Depreciation

• Over 5 years, a BMW X5 can depreciate by approximately 35 to 55 percent of its initial value, depending on the model, mileage and condition.
• Depreciation Cost: New car purchasers can expect between $21,000 and $55,000 of depreciation over five years for a vehicle valued between $60,000 and $100,000. Although this is bad news for new car buyers, it can be great news for used car buyers looking for an affordable BMW X5 with a lot of mileage left in it.

Additional Costs

• Fuel: Depending on driving habits, fuel costs can run the average driver between $2,000 and $3,000 per year. The actual cost will vary significantly depending on the length of your commute and whether you use the car every day for getting to and from work, dropping off your kids at school or running errands.
• Taxes and Fees: Initial purchase taxes, registration, and annual renewal fees can range from approximately $3,000 to $6,000 over five years depending on whether you live in D.C., Maryland and Virginia, as well as other local city or county requirements.

Estimated 5-Year Cost Breakdown

• Initial Purchase Price: $65,000 – $100,000
• Insurance: $8,000 – $20,000
• Maintenance & Repairs: $4,000 – $8,000
• Depreciation: $21,000 – $55,000
• Fuel: $10,000 – $15,000
• Taxes & Fees: $3,000 – $6,000
• Total Estimated 5-Year Cost: $111,000 – $204,000

The actual costs can vary significantly. What you can know for sure is that the cost of buying and owning a new BMW X5 is far higher than the cost of purchasing a pre-owned BMW X5 that’s a few model years old. These relatively new pre-owned vehicles still have most of their usable life ahead of them and possess all the same features, but are available at a fraction of the price.

Find Your Dream BMW X5 Here at Easterns Automotive

Interested in exploring premium vehicles like the BMW X5? Consider visiting Easterns Automotive Group, where “your job is your credit”. Located in Virginia, Maryland, and D.C., we offer a range of pre-owned luxury vehicles to elevate your driving experience to new heights.

Discover your perfect match at Easterns Automotive Group today by visiting our online inventory or giving us a call at 877-867-0641.