2006 E60 M5 used prices going Up?

cjrow · 1st June 2009, 17:54

To those seeking their first M5

I've been in the market for an E60 M5 for the past few months and have noticed a trend...

There was a precipitous decline in prices for the past 10-15 months and many used 2006 M5's could be had in the low to mid 40's and rarely in the high 30's. However, now it seems the prices have actually increased, ever so slightly, within the past few months.

Is it me or have others noticed the same...

According to Manheim auctions, average M5's in April (35000 miles) were selling for $40,499 while in the last week in May they were going for $41,168. While the number and condition of the vehicles may account for the small difference, I have been monitoring the auction prices for several weeks (8) and they seem to be leveling off. Good for current owners but not so good for the aspiring owner (me!)

What's your opinion? Will they continue to fall in price or continue to plateau? Regardless I'm still buying just waiting for that elusive alpine white over black to show their face in So Cal.

Have a good week...

andrewsherman · 1st June 2009, 18:12

I hope you are right. This would be consistent (although more extreme) with how used car prices trend, but I would have thought it would continue downward given the economy.

CSBM5 · 1st June 2009, 22:00

There is also a strong seasonal component to used car sales, and we're in the peak season now. Add to that the many forced liquidations of people buying/leasing cars way beyond their means, etc, that were forced onto the market earlier this year, and it's not surprising to see some stabilization. The same thing has happened with other cars I'm following (E46 M3, E39 M5, 996 GT3, etc) to some extent...especially the BMWs as it seems there were a lot of crazy sellers that wanted out at any value. The majority of those forced distressed sales have calmed down for the current time it seems. However, with oil up 70% since it's bottom this year, and wholesale unleaded up even a larger percentage coupled with long term interest rates simply soaring, we may yet see more forced sales in the later part of this year? Who knows, we'll see.

DarrinB · 2nd June 2009, 02:54

^^^^hes right, its correlated with the begining of the summer....

donblackie · 2nd June 2009, 03:08

Can someone please show me what a high $30k/low 40k M5 looks like? Is that what the cars are going for these days or are we talking about junk ones that end up being wrecked?

BMWPower06 · 2nd June 2009, 04:32

They are definitely going up...but i still got a great deal on mine just a week ago

NCM5Guy · 2nd June 2009, 04:58

The trend may also be partially related to the bad economy. As the economy tightens, obviously so do wallets- driving a would-be new car buyer to used cars. In the majority of cases, as demand for used goes up so will prices. Theres been a ton of articles on this including this one: Sales of Used Luxury Cars Rise - WSJ.com

Five50nowM5 · 2nd June 2009, 05:59

Quote:

Originally Posted by BMWPower06

I still got a great deal on mine just a week ago

Ditto.

What I noticed in searching for an M5 the past 8 weeks was that the good examples still sold quickly. I had my eye on three other M5s before finding this one, but they were all snapped up within days.

So be patient ... you will find a good one.

dekay · 2nd June 2009, 06:33

Quote:

Originally Posted by donblackie

Can someone please show me what a high $30k/low 40k M5 looks like? Is that what the cars are going for these days or are we talking about junk ones that end up being wrecked?

Late winter / early spring, low to mid 40s could buy a good condition M5 with average mileage, but there was still a range. From what I tracked, the low prices were driven by lack of inventory turnover - the M5s would linger for weeks and months.

On this board, I think I see an uptick of used M5 owners, so I'd guess there has been more buyers recently (seasonal or drawn in by the low prices), which is just capitalism at work.

e60noless · 3rd June 2009, 21:00

I also noticed there are less inventory of 06 M5's so they are moving, so alot more 07 end of leases are going to show up this winter and prices will then drop...