Question about M5 prices... - The Unofficial BMW M5 Messageboard (m5board.com)

Amer · 23rd July 2007, 00:28

Hey guys, I've been lurking the boards for quite awhile now, I am almost ready to purchase an E60 M5 (06') but I'm confused with all the pricing going on. I've seen 06' M5s with 10~25k miles going anywhere from $64,000 to $75,000. Is this huge discrepancy in price normal? Should I stay away from the lower priced M5s?

P.S. My budget is in the very low $60,000 range.

JoeClothing · 23rd July 2007, 05:04

I would think if that is your budget ($60K) you will be limited in your choices. Either a high mileage vehicle or an early production 06 with some recall issues.
$70K is about the range for a late production low mileage vehicle, which is still a bargain compared to what most of us paid.

xraydoc99 · 23rd July 2007, 06:38

As a point of reference I just paid $74.5 for s FULLY loaded (msrp $95.5k) 06 in like new condition with only 3k miles and with over 3 years of the original warranty\maintenance left. I got it from a dearlership so paid a premium over a private party deal. I got tired of looking but if you are patient you should be able to find one of these low mile cars for around $72 or one with 15k-20k miles for the mid to high 60's.

abster · 23rd July 2007, 14:53

Wait until October. That's when the first of the 2 year lease cars start coming back. I have a feeling most people will return the cars (either for 08 M5 with all the updates or something else).

The cars will also be another year older!

Used prices will go down much more in October/Nov.

DY1103 · 1st August 2007, 03:05

I figure if your not picky in mileage and color choice, $69k to $72 is ideal! Ive too notice alot of M5's on ebay are going for mid to low $60's but they either have 25K plus miles with at most 2 years warrenty left or they are lemon cars or buybacks. Be extremely careful with this as I found this myself by actually calling and checking on the VIN #'s.

I got my 06 M5 for $75k with only 6,500 miles and every possible option there was to buy, but this was 5 months ago. I think I paid a little over the average range, but I am picky with my color and only wanted Interlagos Blue!!!

xraydoc99 · 1st August 2007, 03:21

I found a late June 06 build car with a late September in-service date that had only 3k miles and only one tiny stone chip on the hood as its sole cosmetic blemish. It is fully loaded, missing only the rear airbags which I did’t want since I have small kids. It had an original sticker of $95.5k. I paid $74.5k which I felt like was a couple thousand more than it was worth, but from a dealer not too bad of a price.

Two important things to remember
1. Miles on the car are expensive - BMW seems to think $0.25 is the number based on their lease rules. So a car with 33k vs 3k should be worth $7500 less.
2. Warranty is very important. I imagine these will be very expensive to maintain out of warranty. BMW charges nearly $5000 just to add 2 years to the factory warranty. So by BMW, every additional year of warranty is worth about $2500.

By that logic, my car with 3k miles and over three years left on the warranty is worth $10k more than a high mileage car with 2 years or less left on the warranty.

Plus you basically are getting a brand new car.

Just my 2 cents.

poncekim · 1st August 2007, 06:19

Minor correction - I'm only going to pay $0.20 cents/mile over on my lease, which i think is a bargain compared to $0.15 cents for my girlfriend's 328.

Amer · 2nd August 2007, 02:47

Can anyone recommend how to find out if an M5 has lemon or buyback? I use Carfax but it is not accurate all the time. Thanks.