For context, this is my third BMW, and I’ve genuinely loved owning every one of them. I bought my first BMW, traded it in to upgrade to my second, and eventually did the same thing to get my third.
I purchased this car in 2021. It is a 2018 BMW, and it recently reached 103,000 miles. Until now, it had been extremely reliable.
A few months ago, the car started smoking and would not drive. I took it to a shop, and they discovered that oil had somehow been put into the coolant system. The entire cooling system had to be replaced. I was hesitant to spend that much money because of the mileage, but the car had always been good to me, so I went ahead with the repair. It cost approximately $4,000.
Now, barely six months later, the car started shaking while I was driving. I continued driving it for a short time and scheduled an appointment to have it checked, but before I could get it to the shop, it suddenly stopped in the middle of the road and displayed a “drivetrain malfunction” warning.
Because I am now living in a different state, I took it to a different independent BMW shop. They told me the engine timing is off, there are problems affecting all four cylinders, and there may be additional engine damage. The estimated repair cost is around $7,000. The mechanic said that, considering the age and mileage of the car, he does not believe it is worth repairing.
The problem is that I still owe approximately $9,000 on the loan and make payments of $290 per month. It almost feels like I have no choice but to repair it so I can either sell it or trade it in, but spending another $7,000 also feels extremely risky. The mechanic made it clear that even after fixing the current problem, there is no guarantee that something else will not go wrong.
He also found oil residue still present in the vehicle, even though the entire coolant system was supposedly replaced. He believes the remaining contamination may have contributed to the drivetrain malfunction and the current engine problems.
I know BMWs have a reputation for becoming expensive once they reach higher mileage, but I truly never had major issues with any of mine before this. This is also the first BMW I have owned that has gone over 100,000 miles.
I am honestly devastated because it feels like I may have to let the car go, but I cannot even afford to sell it while still owing so much on the loan. Also I love this car and it feels like a gut punch bc this was so left field.
At the same time, putting another $7,000 into it just to possibly sell or trade it afterward seems like a huge gamble.
Has anyone been in a similar situation? What realistic options do I have when the repair costs almost as much as the remaining loan balance?
I’m in a tight financial situation right now, so I’m trying to make the best choice.
2018 330i