I have bought a new 2015 bmw 328 in Sep 2014 for 46k on road price(Includes Tire maintenance package). BMW's 4 years free maintenance ended this month and here on wards I need to pay for service and repairs. At present it has 28K miles on the car. Car is in good condition with minor door ding. I checked KBB and its value is 19k(Trade in) and 22K(private). I still owe 9k to bank.
I do need a car for commute. My next car will definitely buy a small SUV. A decent SUV will cost 22-24K for sure.
Is it advisable to sell it off and cut my loses or keep it, as it may not depreciate so severely.