Reducing Debt: Replacement for E70 X5.

Looking to reduce a little debt before I retire from the USAF soon. Wife brought up the idea of eliminating the $400.00 a month, plus $100.00 or so on insurance on our 2007 X5 4.8i, 52Kmiles, with all the bells and whistles, plus 3rd row seating. You name it, we have it. We've had it for 2 years and it's been an awesome vehicle.

Trade-in is an option as the dealer cut me a check in December last year for 34K. We decided to keep it. Now things are going to get tight with my transition. We owe 18K on it now.

Thoughts on a possible replacement that my wife can use to daily drive, offering some reliability at about half the cost?

I might consider a 4 door sedan, or even a mini-suv.

Options.. Please.. Thanks in advance!

2005 Mazda MPV. Keeps the 3rd row seating. Looks like, but doesn't drive like a minivan.

Ha.. forgot to mention. We got the X5 because we didn't want something that looked like a mini-van. Thanks..

M3Loco wrote: Trade-in is an option as the dealer cut me a check in December last year for 34K. We decided to keep it. Now things are going to get tight with my transition. We owe 18K on it now.

So am I reading you right?
Recently you were offered $34k for the BMW and you owe $18k on it?
Selling it would net you $16k in cash?
Things are changing on the income/expense horizon?

If so then sell it for sure.
Of that $16k, spend 3/4ths of it or $12k to buy a new car an leave the last 1/4th or $4k to aid in the transition.

Space requirements? Towing or not? Any other information?

In reply to jrw1621:

Yeah, that was in December of last year. We really love this vehicle and have somewhat been spoiled. All the options are sweet.

That is a good analysis. Let me bounce it off the wife.. It's actually her daily..

In reply to pres589:

Space will be nice. Wife and 2 kids. Local driving and possibly a trip a few times a year. Towing will be nice, especially in the future. - Good on gas - Reliable - Easy to work on - Stylish

R...

Take the $16k, and go see if you can stand an '03-05 Forester XT. Loses the 3rd row seating, but reasonably roomy, fast, not bad with an automatic, decent ride, alright to look at, and potentially paid for.

I assume she likes the combination of size, power, ride height and prestige of the BMW.
Which of these items might she be flexible on?

My intitial thought is to find a older but "low mileage" example of the same or similar type vehicle.
Current is: 2007 X5 4.8i, 52Kmiles

Darn near the same car but older w/ more miles.
2003 BMW X5 4.6is 94k miles
$14,900
http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=30006&endYear=2013&makeCode2=BMW&startYear=1981&makeCode1=VOLVO&bodyStyles=SUV&maxMileage=100000&searchRadius=25&maxPrice=16000&makeCode3=INFIN&minPrice=44&listingId=323475782&Log=0

By the time your '07 BMW is paid off you may have 94k on it and this one is paid off now.

2002 BMW X5 4.6is 99k miles
$14,993
http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=30006&endYear=2013&makeCode2=BMW&startYear=1981&makeCode1=VOLVO&bodyStyles=SUV&maxMileage=100000&searchRadius=25&maxPrice=16000&makeCode3=INFIN&minPrice=44&listingId=325590699&Log=0

Less engine, less miles...
2002 BMW X5 3.0i 47k miles
$15,995
http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=30006&endYear=2013&makeCode2=BMW&startYear=1981&makeCode1=VOLVO&bodyStyles=SUV&maxMileage=100000&searchRadius=25&maxPrice=16000&makeCode3=INFIN&minPrice=44&listingId=322564764&Log=0

Smaller...
2004 BMW X3 3.0i 72k miles
$15,990
http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=30006&endYear=2013&makeCode2=BMW&startYear=1981&makeCode1=VOLVO&bodyStyles=SUV&maxMileage=100000&searchRadius=25&maxPrice=16000&makeCode3=INFIN&minPrice=44&listingId=326318400&Log=0

There are also some interesting choices in the Volvo XC90 and Infiniti FX35/45 if you like those flavors.
Samples:
2007 Volvo XC90 2WD 3.2 7-Passenger 82k miles
$15,996
http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=30006&endYear=2013&makeCode2=BMW&startYear=1981&makeCode1=VOLVO&bodyStyles=SUV&maxMileage=100000&searchRadius=25&maxPrice=16000&makeCode3=INFIN&minPrice=44&listingId=324783512&Log=0

2005 Infiniti FX35 AWD 80k miles
$15,900
http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=30006&endYear=2013&makeCode2=BMW&startYear=1981&makeCode1=VOLVO&bodyStyles=SUV&firstRecord=26&maxMileage=100000&searchRadius=25&maxPrice=16000&makeCode3=INFIN&minPrice=44&listingId=324528807&Log=0

In reply to jrw1621: I really like the Infinity.

If we get rid of the X5, we will try another marque.

My best friend loves his Infinity G35.

Hmmmmmmmm. Let me bounce it off her.

Thanks..