It’s an old adage that any new vehicle depreciates significantly the moment a consumer drives it off the dealership lot after purchase. Due to the cost of new vehicles, this is truer now more than ever. But several other factors contribute to how a vehicle holds its value over time. One of the most significant is how much and who performs your BMW auto repair over the lifetime of your vehicle ownership.
BMW vehicles are known for their reliability. As recently as 2022, BMW earned four awards for quality and one award for dependability from J.D. Power & Associates. In addition, the 2022 BMW X6 won the Best Performance Award for an Upper Midsize Premium SUV. Moreover, BMW ranked 15th on the J.D. Power 2022 Vehicle Dependability Study, ahead of the national average and ahead of Volkswagen, Mercedes-Benz, and many other popular brands.
Of course, BMW reliability is judged by more factors than consumer survey studies. One report found that BMW owners frequently get 150,000 – 250,000 miles out of their cars, with many lasting well past the 300,000 mile mark. Almost 25% of BMW owners keep their vehicle over 10 years before replacing it, and a good number of these opt for a newer BMW.
How Do BMWs Hold Value Over Time?
Of course, how any model BMW holds its value over time depends on several factors. Some are reported to be more reliable than others, but in general, any BMW can retain at least 50% of its initial purchase value. Some factors that can impact BMW resale value include:
- Depreciation — Ever car loses some value virtually every day you own it.
- Condition — Keeping your car free of dents and scratches helps it retain more value.
- Mileage — Keeping your annual mileage between 12,000 and 15,000 miles helps; but cars with more than 100,000 miles lose resale value quickly.
- Popularity — More popular models will still be in demand years later and demand a higher price.
- Accident History — Collisions can reduce resale value by up to 30%, even after a pristine restoration.
Another significant factor that can help your BMW hold its value over time is its service history. Keeping up with routine maintenance at regular intervals and trusting any repairs only to a reputable BMW auto repair shop can keep your vehicle’s value high over time. Knowing that any repairs are trustworthy and use OEM parts and the latest technology for diagnosis, and showing a record of this history, can add to your vehicle’s value and desirability.
Choose the Best BMW Auto Repair Shop for Service
In order to keep your BMW running smoothly for a long time, choose Charleston’s Best BMW Auto Repair Shop for all your service needs and routine maintenance. Ottohaus of Charleston, with two convenient locations, has factory trained and experienced technicians that spend all their time repairing German-made vehicles like your BMW. Chances are, when you experience a problem, we’ve already handled it on many other BMW vehicles and know the quickest, most reliable, and most affordable way to fix it.
Why not call us today at (843) 790-0478 and share with a team member your BMW service needs? We stock a wide range of OEM parts for the most common repair needs, and use only the very latest modern diagnostic equipment and software to determine the extent of your BMW’s problem.
At Ottohaus, you can trust us to fix your BMW right the first time, every time: that’s the Ottohaus guarantee. Call or message us online today to learn more.