I'm a new member of this forum officially in the market for an E34 M5 with low mileage in excellent condition and I'm having a tough time trying to figure out what I should expect to pay. The pricing of the finer remaining examples of these cars appeared to be slowly climbing up until the beginning of this year; with the economy tumbling and the price of fuel rising it seems the average actual selling prices are now falling fast yet asking prices remain all over the place. I've been watching several nice examples of these cars sit for sale for months with the sellers apparently stubbornly determined to get their asking prices, and I've seen others willing to drop their pricing considerably to actually move their cars.
I'm looking for a clean titled rust free car without major mechanical or electrical issues with around 60,000 miles (or less) and I live in Canada so I have no federalization issues.
What should my budget be given I'm in no rush whatsoever to buy?
I know most of the members of this forum are owners but I'd greatly appreciate as much objectivity as possible in your replies.
I suspect you will find it quite difficult to source a clean rust free car with 60K miles or less in Ontario - although I know of a few that exist. Any car with low miles and no rust out there will command a hefty premium of course. Lesser quality cars seem to be taking a long, long time to sell. The buying market for these cars is getting more and more knowledgeable about the long terms costs of maintaining them it seems and buyers are willing to wait for good examples to come onto the market.
Even so, I think you'll find it's a buyers market at the moment in Canada. Out west, the going rate seems to be anywhere from 10K to 20K depending on the condition, mileage, history and desperation level of the seller. I suspect the prices are softer in the east as they are for most cars. If you are willing to venture to the US and pay the import costs - there are deals to be found.
If you want to drive it back from Victoria - I have a nice 100% rust-free imported 91 with only 115K Km on it that I've been lovingly restoring over the last 2 years to near-perfect shape. I'd be willing to part with for the "right" price
The Following User Says Thank You to woods For This Useful Post:
I suspect you will find it quite difficult to source a clean rust free car with 60K miles or less in Ontario - although I know of a few that exist.
When I'm confident I can actually get what I want within my budget I'd be willing to import a car from as far as Europe or Japan if the price is right.
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Originally Posted by woods
Any car with low miles and no rust out there will command a hefty premium of course.
Quote:
Originally Posted by woods
I think you'll find it's a buyers market at the moment in Canada. Out west, the going rate seems to be anywhere from 10K to 20K depending on the condition, mileage, history and desperation level of the seller.
All signs are definitely pointing to a buyers market globally for these cars right now, and unfortunately I think things are only going to get worse for the time being.
I know of several examples for sale across the border with average mileage which are probably in need of work with asking prices between $10,000 and $12,000. How much of a hefty premium are we talking about for a mint example with low mileage?
My research so far seems to suggest I can get exactly what I'm looking for around $16,000 to $18,000 if I'm prepared to wait.
Quote:
Originally Posted by woods
If you want to drive it back from Victoria - I have a nice 100% rust-free imported 91 with only 115K Km on it that I've been lovingly restoring over the last 2 years to near-perfect shape. I'd be willing to part with for the "right" price
Shoot me the details and I'll have a look.
Last edited by Shock(/\)ave; 30th June 2008 at 21:32.
Hi there in Ontario.
Why not ask someone in your neighborhood who knows ALL there is to know
about a E34 M5 > Will Zaraska ( www.willz.ca ).
Good luck !
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Karl / Global E34 M5touring Registry
Hi there i actually heard correct saw a black 3.6ltr car for sale in canada this car was BRAND NEW no kiddin i will try to search to see if i can trace it again but the asking price if i remember rightly was almost the same when new, it was absolutely brand spanking new, Black on grey stored from new. But this was a few months ago don't know if it's still around. Will check !! watch this space....
Japan is your best bet. Thats where I got mine. Currently 37k kms on the clock. Showroom shape. You should be able to find something nice (but not mine) for $18k. Good luck and welcome.
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Terry in Toronto
92 e34 M5 J-Spec with E.A.T chip, Mauritius Blau
91 e31 850iA J-Spec, Conforti chips, Mauritius Blau (gone but not forgotten)
Two wrongs don't make a right. But three lefts do.
The Following User Says Thank You to Usual Suspect For This Useful Post:
Have a looK at the E34 owned by "chrisdaph" under "search" in Guelph, Ontario. Sebring Grau, Euro spec from Japan, never seen snow or salt, 110000 kms. Excellent condition inside and out, recent Inspection II service (April 2008). He might be persuaded to part with it for the right price over $20,000.
You can pry this one from my hands for 25, don't laugh its only got 60,000 documented km's and is near perfect, HK lowering springs, Near new Bridgestone Potenza's, Diamont Schwarz on Black Leather, with rear sun shades including rear side windows, dual zone automatic A/C etc. and its in Canada, (Vancouver)
Why not ask someone in your neighborhood who knows ALL there is to know about a E34 M5 > Will Zaraska
Good idea - I'll send Will an e-mail.
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Originally Posted by Josco010
i actually heard correct saw a black 3.6ltr car for sale in canada this car was BRAND NEW no kiddin i will try to search to see if i can trace it again but the asking price if i remember rightly was almost the same when new
I'm sure the car you have in mind would be well outside of my price range.
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Originally Posted by Blutarsky
best of luck brother, i'm sure you'll find the perfect fiver
Thanks Grant! I truly hope your financial situation improves and you're able to get back into a car you love again.
Quote:
Originally Posted by Usual Suspect
Japan is your best bet. Thats where I got mine. Currently 37k kms on the clock. Showroom shape. You should be able to find something nice (but not mine) for $18k. Good luck and welcome.
Any detailed information on the subject you can give me would be GREATLY appreciated.
I'd love to know everything about the process, who you used, potential pitfalls and so on...
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Originally Posted by chrisdaph
He might be persuaded to part with it for the right price over $20,000.
Quote:
Originally Posted by brsteel
You can pry this one from my hands for 25, don't laugh its only got 60,000 documented km's and is near perfect
Unfortunately neither of those two cars are realistically priced given the current market; you need only put them up for sale to confirm I write the truth.
Thanks again for all of the replies so far everyone!
E34 M5 Market Pricing Volatility
of course the mileage is higher than you are looking for, though.
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