2003 Black M5 for Sale...Crazy Price!! - The Unofficial BMW M5 Messageboard (m5board.com)

paulbondy · 26th July 2004, 16:58

Just spoke with a guy and saw a number of pictures of a babied black 2003 M5 with just over 8,000 miles and he's selling it for $60,900 if the deal goes through this week. If he doesn't sell it he's trading it in at $60,000. If mine were sold already I'd be all over this, but it isn't so I thought I'd pass this along to you folks. You'll have to check it out for yourself of course and the guy was more than willing to take it over to the local BMW dealer for a buyer inspection. That price is an absolute steal on a car like this and this is exactly the scenario you want when buying a used M5...get the car just above what the dealer is willing to clobber someone else with. Call me if you're interested and I'll put you in touch with the guy and send you pictures. My # is 703.405.7676.

CSBM5 · 26th July 2004, 20:44

That's really not such a great price...it's ok, but it's not really a crazy steal. If he can get a dealer to give him 60k outright (i.e. not part of a "trade-in"), then he's doing great. Here's an example of a 12k mile '03 for sale at $61,500. http://www.cars.com/go/search/detail...4&aff=national

paulbondy · 26th July 2004, 21:01

I've been researching M5s for 1 1/2 years. I check all the websites on a daily basis (yes...I need to get a life). That's cars.com, autorader, yahoocars, ebay, bimmerforums, roadfly, and m5board, and manheim auctions...to name a few. It is an amazing price. The car you brought up is a great price too, but it's $600 more for 12k miles vs. 8k and the car with 12k miles has zero options vs. this car which has the M-audio, sunshades, and fold-down rear seats. It also has the solid black leather vs. the grey inserts. Find one with similar mileage at a BETTER price anywhere and I'll concede that I misspoke (barring accidents, paintwork, etc.). The last 2 that sold at auction (Manheim) sold for $63,000 and $63,500 and they had 3,000 and 3,300 miles respectively. I'm not one to spew off at the mouth about something when I haven't fully researched. Pardon my language, but I know my ****, and this is a fantastic deal. Find a better deal and prove me wrong...the gauntlet has been set.

CSBM5 · 27th July 2004, 00:16

Sorry Paul -- didn't mean for you to take my reply too seriously...just meant to point out that my opinion was that it wasn't a crazy steal. A couple of k under the market perhaps, esp in California, was the way I saw it. For example, I had a deal ready to close back in the end of January on a brand new, 12 mile, 2003 M5 with M-audio, shades and PDC for $69,000. Locally here 4 months ago back in April a 2003 M5 with 9k miles sold for 65k with full CPO warranty...that was 4 months ago. With the 2005 model starting shortly, I think deals like this will be more common. No need to throw down the guantlet as I was in no way trying to prove you wrong...it is a good deal for sure, but I'm guessing that in the next few months getting an 8k mile car with a full CPO warranty near that price will be possible too....perhaps around the end of October?

Cheers,
Chuck

paulbondy · 27th July 2004, 01:23

What...you chicken Carolina boy?? No, I'm kidding...no offense taken at all. Honestly, when I see a great deal I want someone to have it...even if it can't be me. I'm trying to sell my '02 now so I can pick up an '03 in Black or Carbon Black...so I've really kept an eye out and made numerous calls.

I don't see much difference in price between a steal and a great buy really. It's not like the antique roadshow...some grandma in North Dakota doesn't have an M5 sitting in her garage and doesn't know what it's worth. i.e. no one is going to sell an '03 with <10k miles for $55k...just ain't gonna happen. I guess there are always those once in a lifetime deals...M5 owner wins the lottery and sells his dirt cheap to avoid the hassle.

From what I've seen...and tell me if you guys have seen this too, '03s are actually selling for more money now than they were a few months ago. That only applies to the super-low mileage cherry ones. I guess because there are so few out there in this category. I do think those prices will come way down once the new M5 is out, but that's not for another year.

I'd still be interested in hearing if anyone finds a better deal.

CSBM5 · 27th July 2004, 02:47

Quote:

Originally Posted by paulbondy

From what I've seen...and tell me if you guys have seen this too, '03s are actually selling for more money now than they were a few months ago. That only applies to the super-low mileage cherry ones. I guess because there are so few out there in this category. I do think those prices will come way down once the new M5 is out, but that's not for another year.

I wouldn't doubt it if people are looking for almost new 2003 cars now as more info about the E60 comes out hence increasing demand. I do know that back in the winter the M5 market was completely dead with cars on the market for many months. Jan-Feb is the best time to buy perhaps especially this coming year.

yapallas · 27th July 2004, 20:53

Quote:

Originally Posted by CSBM5

I wouldn't doubt it if people are looking for almost new 2003 cars now as more info about the E60 comes out hence increasing demand. I do know that back in the winter the M5 market was completely dead with cars on the market for many months. Jan-Feb is the best time to buy perhaps especially this coming year.

Well, Guys, I just bought an M5 03 from the stealer LM/LM and it cost me 68,500 but the car was never registered, it being a "BMW Media Car" whatever that means with 3,400 miles on it. Has the PDC, the Shades, Split folding back seats and the BMW Sound with the big speakers. I may have paid a bit more than the street, but look at the joy it brought. Priceless!!!!!

Yeoryios

CSBM5 · 27th July 2004, 20:58

Hmmm....Media Car...did it come with documentation from BMW NA that you had to sign accepting the car? Just curious as dealers bid at auciton on cars from the Performance Center, but I think that BMW notifies potential buyers? I've always wondered about all the M5's the Perf Center goes through and where they end up. They don't stay at the Center for more than 2-3k miles. Turns out BMW goes through them meticulously and replaces anything worn with new parts. Then cars are auctioned to dealers. Supposedly buyers are informed of the car's past.

paulbondy · 27th July 2004, 21:08

When did you buy your car? There was a lemans blue sold at auction in CA on 5/27/04 that had 3,525 miles on it and it sold for $61,250 at the Manheim CA auction in Riverside. Is that yours???

yapallas · 27th July 2004, 21:23

Quote:

Originally Posted by CSBM5

Hmmm....Media Car...did it come with documentation from BMW NA that you had to sign accepting the car? Just curious as dealers bid at auciton on cars from the Performance Center, but I think that BMW notifies potential buyers? I've always wondered about all the M5's the Perf Center goes through and where they end up. They don't stay at the Center for more than 2-3k miles. Turns out BMW goes through them meticulously and replaces anything worn with new parts. Then cars are auctioned to dealers. Supposedly buyers are informed of the car's past.

Neither BMW nor Delealer informed me of pedigree. The car was first registered in my name. The car was indeed in great shape. It had 3,572 miles on it when I got it. The dealer from whom I bought it is Nielo BMW from Sacramento. I got it on June 30th, sight unseen. It was to replace a 2002 M5 LM/LM that I foolishly sold a year ago and missed desperately. So far I am happy with the car and are looking to get Bluetooth for hands free phone system.