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Higher upkeep than say a Toyota Camry or Honda Accord. A Toyota Camry is probably one of the most boring cars to drive, but you can't ignore it's reliability. I work on BMWs for friends and family. They are awesome cars to drive, but repairing them can be a major pain due to the complexity. Try replacing a waterpump on a Honda Accord in comparison to a 330xi. The Honda water pump you can find aftermarket for $50. The BMW water pump aftermarket from ECS tuning is around $300, and is a major bear to get to. Worth it for people who like driver's cars, but not to the average CL buyer who needs transportation to work, hence the depreciation.
Yeah sure, I understand, I work on my cars, although for example if you buy front pads made by Textar (OE supplier) you pay $76 for X5, while in BMW it is almost $200.
OEM water pump for diesel X5 is around $130, but yeah, those electric ones are pricey.
But issue is that people who buy BMW's go by default to dealership and that is where there is where bad reputation comes from. I am not sure even $300 for water pump is expensive since it is not like you are changing it every 10K. Problem is labor that BMW charges in dealerships.
By the way, I would rather work two days on BMW and drive that, then 1 hour on Camry and come to the temptation to shoot myself.
Talking about Honda. My in laws have 2009 Pilot with 63K. They probably spent 10X more money on upkeep of that POS then I did on X5 in 66K.