The lease on my 2003 E39 M5 is coming to an end and I've ordered an E60 M5 to replace it. The E60 is due in at the end of March or early April, so I've decided to pursue a private sale of the E39 to give someone a good deal instead of lining the pockets of my dealer with a low milage lease return. Here are the particulars:
Car: 2003 Sterling Grey M5 with solid black interior, wood trim and all available options (PDC, M-Audio, Rear Sunshades, Split/folding rear seats).
Extras: Rogue Engineering short shifter, weighted selector rod, high performance tranny mounts, Royal Purple tranny fluid, Axxis Deluxe Plus low dust pads and new rear tires in December
Condition: Body is in very good condition (a few small stone chips in the hood and some light curb rash on a couple of the wheels). Interior is in excellent condition (non-smoker; no stains, scratches or tears)
Milage: Currently 27.9K, but will likely be around 29K at the time of sale
Price: $51K. This covers the $47.5K buyout cost (including sales tax and other fees), the $2K - $2.25K to have it CPO'd and $1.25K to $1.5K for my pocket to recoup some of the miles I paid for on the lease and didn't use (paid for 36K miles and will use less than 30K). Alternatively, if an interested buyer has a dealer that will CPO for less, I'll sell it for $49K w/o the CPO.
Please PM me if you're interested. Thanks.
__________________
AGS
Current:
2009 Carbon Black M5
Previous:
2006 Silverstone II M5
2003 Sterling Grey M5
2000 Anthracite 540i6
1998 Jeep Grand Cherokee 5.9 Limited
1990 Eagle Talon TSi AWD
1978 Mazda RX-7
The lease on my 2003 E39 M5 is coming to an end and I've ordered an E60 M5 to replace it. The E60 is due in at the end of March or early April, so I've decided to pursue a private sale of the E39 to give someone a good deal instead of lining the pockets of my dealer with a low milage lease return.
Price: $51K. This covers the $47.5K buyout cost (including sales tax and other fees), the $2K - $2.25K to have it CPO'd and $1.25K to $1.5K for my pocket to recoup some of the miles I paid for on the lease and didn't use (paid for 36K miles and will use less than 30K). Alternatively, if an interested buyer has a dealer that will CPO for less, I'll sell it for $49K w/o the CPO.
I'm repricing my 2003 Sterling Grey M5 down to $47K plus the cost to CPO (if wanted).
Just checked the status of my new E60, and it's at the port waiting to be shipped on March 6th. It'll be ready for pick-up at my dealer by April 1st at the latest. As such, I'm going to lower the price of my E39 to $47K plus the cost to CPO (if wanted, my dealer estimated the cost to CPO at $2,000 to $2,250). Basically I'm eliminating the $1,500 I was trying to recoup for being 6,000 miles under the milage allowed on my lease. In addition, the buyout price has gone down primarily because I've made another payment since my original post.
I will be turning this car in on April 1 unless I have a firm offer with a security deposit in hand by that date. Please PM me if you're interested.
Let's hope a buyer comes to their senses before it goes to BMWFS, (who will unload it to a dealer for 43k and the dealer will CPO it and sell it for $53k+)
I'm repricing my 2003 Sterling Grey M5 down to $47K plus the cost to CPO (if wanted).
Just had a thought. My buyout cost of $47K has about $2.6K of NJ state sales tax included that I have to pay when I purchase the car from BMW Financial Services. If an interested buyer has a dealership that will work with them, I could turn the car into that dealer who could then buy it from BMW FS at my actual buyout cost and then sell it to the buyer at less than the $47K I need to pay. Just and idea to try to save a fellow M5 fanatic a few more bucks!
(Plus, a really appreciative buyer might throw me $500 of the savings for the effort!! )
My new E60 M5 hit the VPC on Monday and will be at the dealer for pick-up Saturday, so if anyone is interested in my E39 M5 you need to move quickly.
I can also offer an even better deal. I leaned on my dealer hard and they finally agreed to broker the sale. What does this mean to the buyer? A further savings of $2,600! Previously my dealer was not willing to broker the trade, so I would have to buy-out the car and sell it to the new owner. In doing so, I would have needed to pay $2,600 in NJ state sales tax. Now that my dealer (Morristown BMW in Morristown, NJ) is offering to broker the sale, this cost can be avoided.
The new price is $44,500 plus the cost to CPO (estimated at approximately $2,500 by my dealer). That's a low mileage 2003 M5 for about $47K!!!
If he's comfortable posting a review, a fellow board member looked at my car, took it for a test drive and ran the VIN through the BMW system. He can attest to the condition of the car.
Happy to attest that I ran the service history, inspected the car and had the pleasure of a spirited test drive. Nothing but positives all around. The car is all that AGS states, a very well maintained and cared for beast at an incredible price. Now, if only I could sell my 540 by this weekend...I could put it in my garage.
Price Reduction - $47K + cost to CPO (if wanted)
Linear Mode
