M5 a money pit? - Page 2 - BMW M5 Forum and M6 Forums
E60 M5 and E61 M5 Touring Discussion 2005- Advertiser's Forum

 32Likes
Reply
 
LinkBack Thread Tools Rate Thread Display Modes
post #11 of 92 Old 10th February 2017, 11:51 PM
Craze
Member, Sport: On DSC: Off
 
Join Date: Dec 2015
Posts: 279
Thanks: 3
Thanked 10 Times in 10 Posts
Quote:
Originally Posted by umichchris View Post
MONEY PIT!


if i could go back in time, id NEVER buy mine....but now that ive had it for 5 years and sank in over $10k in repairs....it would be dumb to sell it for the maybe $20k its worth on the market these days so in the collection she stays.

buy one only if its a spare car that you dont need to rely on for anything other than fun on the weekends. its easily the least reliable BMW produced within the last 10 to 15 years.

but if you have money to burn its a fun car to own!


Seems like you got off lightly. 10k in 5 yrs isnt much imo

M5 E60 Silverstone, evolve tune, eventuri intake
Craze is online now  
Sponsored Links
Advertisement
 
post #12 of 92 Old 10th February 2017, 11:53 PM
Craze
Member, Sport: On DSC: Off
 
Join Date: Dec 2015
Posts: 279
Thanks: 3
Thanked 10 Times in 10 Posts
I wouldnt say absolute money pit, unless you get a lemon

Trouble is people get this car, which in australia was $250k new and expect it to be like a camry!

Its a lot of car for the 2nd hand market
Just accept its over 10 years old and yes money has to be spent.

M5 E60 Silverstone, evolve tune, eventuri intake
Craze is online now  
post #13 of 92 Old 11th February 2017, 12:25 AM
JrMint03
Member, P500, DSC On (>600)
 
Join Date: Jul 2009
Location: Chicago, IL
Posts: 684
Thanks: 0
Thanked 31 Times in 31 Posts
Quote:
Originally Posted by Craze View Post
I wouldnt say absolute money pit, unless you get a lemon

Trouble is people get this car, which in australia was $250k new and expect it to be like a camry!

Its a lot of car for the 2nd hand market
Just accept its over 10 years old and yes money has to be spent.
You nailed it. People expect because it costs the same as a new loaded Nissan Altima that the repairs will be similar. This is a V10 BMW expensive machine. Just because the market price on these has fallen drastically(which sucks,) doesn't mean someone can actually afford the car.

If someone can't afford a 50-60k car, then they shouldn't touch this car even if it the selling price is 30k.

2007 E60 M5- Black Saphire

Eisenmann Race Exhaust
CIC Retrofit
Euro SMG Tune
RPI Scoops and Block off Plates
Lowtech Front Springs
H&R 12mm Spacers all around
Black Kidney Grills
LED Interior, License Plate and Side Marker Lights
JrMint03 is offline  
 
post #14 of 92 Old 11th February 2017, 12:29 AM
umichchris
m5board.comoholic (>1000 posts)
 
umichchris's Avatar
 
Join Date: Oct 2011
Location: Los Angeles, CA
Posts: 1,991
Thanks: 6
Thanked 114 Times in 102 Posts
Quote:
Originally Posted by Craze View Post
Seems like you got off lightly. 10k in 5 yrs isnt much imo
yes/no...

i stopped driving the car 3 years ago. now i do roughly 1k miles/year bc the wear & tear is just too great and the car is too fragile. a bulk of that $10k was all in one year lol

E60 ///M5 Project #Patina
E36 ///M3 5MT sedan
umichchris is offline  
The Following User Says Thank You to umichchris For This Useful Post:
old city bimmer (11th February 2017)
post #15 of 92 Old 11th February 2017, 12:35 AM
rt7085
m5board.comoholic (>1000 posts)
 
rt7085's Avatar
 
Join Date: Nov 2013
Location: West Newton,MA
Posts: 1,571
Thanks: 25
Thanked 147 Times in 136 Posts
M5 a money pit?

The answer is: yes. To all your questions.

Last edited by rt7085; 11th February 2017 at 12:36 AM.
rt7085 is offline  
post #16 of 92 Old 11th February 2017, 12:45 AM
umichchris
m5board.comoholic (>1000 posts)
 
umichchris's Avatar
 
Join Date: Oct 2011
Location: Los Angeles, CA
Posts: 1,991
Thanks: 6
Thanked 114 Times in 102 Posts
bottom line i would never recommend the E60 M5 to anyone as a car to buy....even if they had money to waste on the repairs. there are other cars out there with less quirks for similar pricing and performance. just not a smart buy no matter what...

just my opinion.

ive actually had friends come to me and ask me and ive told them my honest opinion and steered them away from the car/platform.

E60 ///M5 Project #Patina
E36 ///M3 5MT sedan
umichchris is offline  
post #17 of 92 Old 11th February 2017, 01:42 AM
AmstaffM5
Addicted Member (>300 posts)
 
Join Date: Dec 2010
Location: NC
Posts: 304
Thanks: 1
Thanked 19 Times in 17 Posts
If it is on your bucket list - get one. Likely the most affordable V10 out there.

Be prepared to spend some money - and, maybe, go 6M/T to avoid the SMG headaches. You pay to play - some pay more, some less - your mileage will vary.

I am glad I owned one. I am glad I don't now. To me it was a bucket list item...
AmstaffM5 is offline  
post #18 of 92 Old 11th February 2017, 02:18 AM
pmalik
Member, Sport: On DSC: On (>100 posts)
 
Join Date: Sep 2016
Posts: 131
Thanks: 2
Thanked 8 Times in 8 Posts
Quote:
Originally Posted by corrieharris27 View Post
No. Its really not. The car I'm looking at is an 08 with 41k for $33k. I know repairs and parts won't be cheap that's a no brainer but the people on the site made it seem like its problem after problem after problem, as If it will be in the shop every other week.

Sent from my LG-K428 using Tapatalk
With 41K miles you can certainly buy a warranty
pmalik is online now  
post #19 of 92 Old 11th February 2017, 02:36 AM
pmalik
Member, Sport: On DSC: On (>100 posts)
 
Join Date: Sep 2016
Posts: 131
Thanks: 2
Thanked 8 Times in 8 Posts
Quote:
Originally Posted by 335xi View Post
The problem is that parts are expensive.
front brake job? > $2K
oil change? > $200
idle actuators ? $500 each x2 + labor
throttle actuators? $600 each x2 + labor
vanos solenoids? $900 each x2 + labor

The rod bearings I would change, $2500 job.

Just be ready for those items as the miles & years pile up.

Don't forget, 10 cylinders = 10 of everything that may break
I think I understand now why you think it's a money pit...

Two jugs of 0w40 + filter =$60
Rotors are $220-250 a pop etc
Rod bearing $1000 in labor + 600 in parts

Here's a good analogy - the idrive box on my wife's 06 died last year. If I had to pay a dealer to repair it, it would've been a $3K endeavor. I got a replacement part from LKQ for $150 delivered. Same thing for that stupid thigh support seat thing - $300 + labor at the dealer or $20 part on ebay.

Paying someone else, especially a dealer, to maintain your used high end car is how you end up with a money pit. I've put thousands of miles on various high end cars (911/S8/S4/bunch of m3s etc) over the years and the only thing I've lost money on has been depreciation.

Last edited by pmalik; 11th February 2017 at 04:58 AM.
pmalik is online now  
post #20 of 92 Old 11th February 2017, 03:29 AM
Mfiveusa
Junior Member, warming up (<31 posts)
 
Mfiveusa's Avatar
 
Join Date: Aug 2016
Location: Connecticut
Posts: 23
Thanks: 0
Thanked 0 Times in 0 Posts
I have owned my M5 for nearly 3 yrs now.. Although it's not a daily driver.I smile every time I get behind that steering wheel..This is my 3rd BMW in last 10yrs and by far the Most exhilarating.Yes the car needs special attention.. Because Bmw built this car like no other,from the ground up.

My advice is take time to get to know the vehicle.There are things that give you the ultimate joy if you learn to DIY.
Over the years I have acquired my own diagnostic tools and stayed up late nights, learning about the various features, functions,tips and tricks on how to tackle issues that may arise.That has helped me tremendously.

Yes certain things will be of course too much for one to repair alone..But I think some of that could be as a result of prior or current maintenance depending on who owned the vehicle from day one.I for one did some research for about 6 months before pulling the trigger.I visited different dealerships and test drove about 5 different cars.In the end I settled on a 2007 with 63,000 miles and most importantly a 6 speed manual transmission.I decided that the SMG unfortunately, was still plagued with issues that were more expensive to repair than it's alternate.

So far I'm at 89,000 miles and car runs even better than when I first purchased it.No major expenses so far.Oil changes every 5K miles and recently upgraded my idle actuator gears before they acted up.(preventive maintenance)..

One thing that I did when I first got my car was I had some vanos noise upon Cold starts.I therefore decided to bleed the system frequently (once or twice monthly) .That greatly improved its performance and minimized noise.I Used DIS V57 software to do this..I also cleaned all my my throttle bodies and greased the linkages.

I just picked up my car today from the BMW dealership due to fact that I wanted to make sure my software was up to date on all the modules in the car.Surprisingly my software was old, 2008 was last update and Bmw actually had updates as late as November 2016 for my vehicle.Glad to know that Bmw still looking to improve things on this legendary vehicle. Just paid an hour labor ,they kept vehicle overnight and provided me with a loaner.

So overall do your homework and research. Be prepared to school yourself on the complexities of this wonderful vehicle unless of course someone else is taking care of the maintenance for you
Good luck!

Last edited by Mfiveusa; 11th February 2017 at 05:16 AM.
Mfiveusa is offline  
Reply

Bookmarks

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the BMW M5 Forum and M6 Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:



Similar Threads
Thread Thread Starter Forum Replies Last Post
Re Intro to my Money Pit with pics! RayIam E39 M5 and E52 Z8 Discussion 50 20th May 2014 09:33 PM
Money where your mouth is!!!! (money goes to charity!) mattmartindrift E39 M5 and E52 Z8 Discussion 65 17th September 2011 05:32 AM
Some teaser pics of "The Matte Black Money Pit"... vantaam5 E39 M5 and E52 Z8 Discussion 82 25th May 2011 01:43 AM
Endless money pit.... mmzcee E39 M5 and E52 Z8 Discussion 29 11th May 2011 11:35 AM
Cheap project or just a huge money pit? carlgrz E39 M5 and E52 Z8 Discussion 11 18th July 2010 09:12 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome