According to CarEdge’s valuation data, the BMW X3 retains approximately 47.99% of its initial value after five years, with a consistent price rise from 2020 to 2023. In 2020, the X3’s base trim was priced around $42,945, and the following year’s model started at $43,995. By 2022, the base model was about $44,000, and in 2023, it started at approximately $47,195. With an average price of $44,535 for models from 2020 to 2023, Car Edge estimates its resale value at $29,844 after five years.
GoBankingRates identifies the BMW X3 as a wise choice for retirees due to its exceptional blend of comfort, safety features, and solid resale value over time. Its five-year depreciation rate of 52%, meaning it retains 48% of its original value, makes it a valuable purchase for budget-conscious buyers. This is higher than competitors like the Audi Q5, which retains 43.2% of its value after five years.
For retirees, these figures are significant. A vehicle that retains its value provides greater flexibility when a change is needed, making resale or trade-in simpler. Additionally, slower depreciation helps keep ownership costs lower. With features like adaptive cruise control and forward collision warning, the X3 delivers both peace of mind and long-term value, making it a worthwhile investment even if it’s not the most budget-friendly option.
Maintenance cost and reliability of the BMW X3
Car Edge indicates that the five-year ownership cost for a new BMW X3 is around $71,368, and significantly lower if purchasing a used X3, as depreciation is less impactful. This includes the cost of depreciation, insurance, fuel, and regular maintenance. It surpasses the five-year ownership costs of the Lexus NX ($56,393), Audi Q5 ($64,303), and Mercedes-Benz GLC ($70,957), but remains less than the Jaguar F-PACE ($96,751).
RepairPal states that the BMW X3 averages $1,034 annually for repairs and maintenance. Regarding reliability, J.D. Power’s Quality & Reliability scores rate the BMW X3 highly across the 2020 to 2023 models. The 2020 model scored an 80 out of 100, reflecting a solid average with no major issues. This was consistent for the 2021 model.
A mid-cycle refresh for the 2022 model improved the score to 85, entering J.D. Power’s “Great” category due to enhancements in fit, finish, and durability. By 2023, the X3 maintained an 82 score, preserving its “Great” rating. Fuel efficiency across the core gas-powered trims is 27 miles per gallon (mpg) combined for the 2020 and 2021 models, settling at 25 mpg for the 2022 and 2023 models, averaging about 26 mpg for the 2020 to 2023 models.
Why retirees will find comfort in the BMW X3
Each X3 model from 2020 to 2023 offers a serene, straightforward ride. The 2022 model introduced plush, perforated SensaTec seats that maintain an ideal upright position, beneficial for longer trips. The rear features a flat cargo floor and a 40/20/40 split rear bench, accommodating golf bags, groceries, or weekend luggage effortlessly, while the hands-free power tailgate opens with a simple foot kick. Inside, the 2020 and 2021 models provide dual-zone climate control, while the 2022 model onwards offers tri-zone automatic climate control for personalized comfort.
Technology is equally user-friendly. All models from 2020 to 2023 feature BMW’s Live Cockpit with a 10.25-inch touchscreen and voice-activated iDrive 7; the 2022 and 2023 models offer an optional 12.3-inch display for enhanced clarity. Wireless Apple CarPlay has been standard since 2020, with wireless Android Auto available from 2021, reducing cord clutter.
In terms of safety, Active Guard, which includes forward-collision warning with automatic braking, pedestrian detection, and lane-departure warning, is standard across the 2020 to 2023 models. The 2022 update adds cruise control with braking, blind-spot monitoring, and an optional Traffic Jam Assistant that can steer, brake, and accelerate in congested highway traffic.
