Someone local to me is selling their '02 w/275k and looking for $10k. Great to see these high mileage examples keep popping up - it's even more encouraging for me as I recently changed jobs and went from a daily commute of less than 10 miles to now having to drive more in the range of 100 miles/day!
I am selling my beloved 2002 BMW E39 M5. I love this car and it shows. If your looking for a perfect condition M5 with low miles this is not the car for you. If you want an M5 that has been ridiculously well cared for M5 with 275k miles and features not common to the car, than you should talk to Rob and see this car. Please understand this is an extremely fast car and you should be familiar with its capabilities. I will be more than happy to demonstrate its speed and handling ability to any serious buyer. It is in excellent mechanical condition. I just bought new tire and drive shaft system plus I just spent $5k on a major engine rebuild including new timing chain. I have a list of the maintenance work done and parts I've changed. The navigation and sound system needs repair.
Thank you for viewing my car. Please understand I have the title in hand and if we agree on price I will only accept cash as payment. If you decide to come and see this car please bring cash with you so you can drive your 2002 BMW E39 M5 home with you. Call me at 978 390 9297 with any questions or concerns.
My name is Rob
Idk man, doesn't look that ridiculously well cared for to me. Dent in the fender, missing tow hook cover. I'm sure there's other stuff you can't see in the pictures. I wouldn't pay $10K for that with the mileage and that description but maybe all of his paperwork could prove it to be worth that, you never know. Either way I wouldn't respond to that ad and just show up with $10,000 cash on me....
I'll tell you as the owner of a high mileage M5, as long it's well maintained you have nothing to worry about. I have over 220,000 miles and this car is amazing. Looks and ride are second to none. Search my threads so you can see my dyno and pics of my beast.
btw, I bought mine in April with all these high miles and so far no regrets!!!
I agree with you there. Although I only have 135K on mine I bought it a 56K and it's in better condition even now than when I received it. I plan on keeping it and maintaining it forever so numbers won't mean much to me. I know there's far more than mileage to factor into a car's condition. I just think that from the description and the pictures of this one, it would need a hell of a lot of documentation to fetch the asking price in my opinion. I just don't think the car they're showing matches the story they're telling. Could be wrong, but I'd ask for more proof if I were an interested buyer. Maybe he's got a long list of receipts to prove a lot.
Looks a little rough - either it's super dirty, or it's been in storage, or the photos are grainy...and possibly major wheel peeling on one rear wheel.
That being said, if it's in as good of shape as it looks overall AND it just had a timing chain overhaul, new tires, and new drive shaft and components, I'd put it at $8-9k.
If nothing else, it'd make an excellent parts car at that price.
It's all about opportunity cost. If you can get a 75k mile beast for $20k, 100k example for $15k or 275k one for $10k, which would you choose? The pricing on this particular vehicle is so egregious it would shock me if it ever sells, in fact I'd reckon the trade in to be no more than $3.5k, he's probably best off parting it out.
EDIT: I always fubar the keyword (never -> ever, lol).
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Last edited by bimmerule; 11th July 2012 at 20:36.
At a certain point, I'd think $8k becomes the bottom range for an m5 in good working condition. Working s62, trans in good condition, rear diff, wheels, body panels/trim, interior, electronics...assuming it's not a problem car, that's what I would expect would be the bottom of the market. I could totally be wrong but I think $5k ish is the realm of a beat up parts car that may not be drive-able.
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