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Discussion Starter #1
Hey gents,

In the market to buy a 2008 m5 w/ 6mt. The car I am currently focused on has 32k miles and is loaded with all options and 1 owner. The MSRP was approximately $100k. It is in great shape, no accidents, with service records.

The seller is asking $37k. Is this a good deal or can I do better?

Does the 6mt hurt resale value?

Will these cars continue to depreciate heavily in the foreseeable future? I see 2006 cars touching $20k (higher miles), so should I expect the same with 2008s?
 

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37k is a little too high for a '08 because let's face it. That's 6 years old now. If it was like 35k, it might of been a pretty good deal.
 

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Discussion Starter #4
Are you buying off a dealer?
Private seller.

The challenge I have is the fact that he has already lost almost $70k in depreciation and taxes making it difficult to negotiate a lower price. Then again he very aware of current market value of the car.
 

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ADA is correct that $35k is about the right price for that car....if it has full service records and is a loaded example in great condition. The amount the car has depreciated means nothing in the conversation. Market value is market value.
 

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My .02

That is definitely the high end of a fair price but 1 owner with perfect service records (even better if they did oil changes at less than the "recommended" BMW intervals) in pristine condition is still worth consideration at that level. Depends on if it is everything you want.

On the depreciation front, looking at M5/M6 numbers and you probably still have a ways to go but it won't happen at anything like the rate it happened to the original owner. Mileage also has a huge influence on the price. My M6 will show $38,000 to $40,000 as a fair price with its 25,500 miles while the same car with 105,000 miles is shown at $26,000 high end value. If it is going to be your daily driver and you put miles on a car, be prepared to pay to play in that regard, but these cars are soooo much fun!

GLWP!

:cheers:

Jim
 
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I think with that mileage (if it's in very good condition and has records) it's in the right ballpark. I've seen some here say the 6 speed is more desirable but from what I've seen looking around they tend to be cheaper. Either way if you can work them down to $35-36k I think you've got a good deal.
 

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Why is the manual more desirable? The whole car concept was F1 inspired V10 with sequential manual gearbox! The SMG is faster - especially with our euro version launch control (i'm in europe). I think the bad press on the SMG is due to the majority of people think automatic and it just isn't. I love my SMG even though I get an occasional rough change - but that's down to me, not the gearbox.

European prices are holding up well now there are more F10 versions hitting the dealers. Nobody raves about them like the E60 versions. Sound is uninspiring.

In UK, my 2008 with 32k miles with full history....any where between GBP22k and GBP26k. Touring - massive prices.....GBP35k still commanded by dealers. Very few private sales on these cars. Pre LCI go from anywhere from GBP13 (old and poor examples) to GBP18k....a few are asking GBP20k but I think that's over the top.

So really, prices staying steady. I've had mine 18months now and could possibly get the same I paid which isn't bad in my book

Remember a car is only worth what someone is prepared to pay. You might get lucky, but I've never been that lucky!

Best regards
Mark
 

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I literally just spent 6 months searching and watching these cars and I also think that price is about right. I paid right at so called "book value" because of an existing warranty with full coverage until 2017. I've seen plenty listed for 35-39K depending on miles, condition etc. Assume some discounting at the final sale and you're right in that range.

Personally I would've also paid a little more for a 6MT, but settled on the SMG when I found one I couldn't pass up. Good luck with your search!
 

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Please take this into consideration. This is for anyone that is judging market values on "what they are selling for." What maintenance does it need now? How much life on brakes and tires. When were plugs done last? Market value on an 08 is very subjective because a 32k mile car that needs tires, brakes in the next 10k miles, needs all fluids and plugs, is worth a considerable amount less than one that doesn't need any of that. Use that in your negotiation as well if it requires any of the above mentioned items. 37k depending on how it's optioned is a good price if it's well maintained and doesn't need any maintenance right away
 

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Discussion Starter #12
thanks for the advice guys. I think the only maintenance the owner has performed were oil changes 2x the OBC requested. The brakes are original so I need to look into the remaining thickness. I believe tires are relatively new.

What maintenance should I expect to perform on a car with 32k miles?
 

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Nothing at 32k, but within the next 5k you should replace the spark plugs as well as swap out some of the filters and perform several fluid changes.
 

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M5 Purchase Input

thanks for the advice guys. I think the only maintenance the owner has performed were oil changes 2x the OBC requested. The brakes are original so I need to look into the remaining thickness. I believe tires are relatively new.

What maintenance should I expect to perform on a car with 32k miles?
Hello, and it sounds like you found a great car. JrMint03, Tzzird and others make a great point in that you will have to pay for regular maintenance items in the very near future. The brakes on the M5 are very expensive, as the rotors cannot be machined and simply need to be replaced (along with brake pads and other misc. brake maintenance parts). Also, like others on this board have mentioned in the past, if I purchased the car, and knew the previous owner did not yet flush the transmission/replace filter, replace rear differential fluid, replace spark plugs, replace air filters, update iDrive software, new GPS maps, etc. etc., you may be looking at around $3000.00 US (or more) for this type of maintenance at a dealership. Make sure all of the features on the car actually work (e.g. check for yourself that all of the options on the car function properly and/or pay for a reputable Pre-purchase Inspection (PPI) which will provide a list of everything that the car "needs").

The ///M5 is simply an awesome vehicle to own, but it is very expensive to maintain. To me, it is basically a race car with four doors and lots of creature comforts and technology. The 6MT is simply a personal preference. I have an SMG and love it; however, I would love to drive the 6MT version just to try it out.

Lastly, get the VIN number (you'll just need the last seven digits) and go here to check to see what exact factory options are installed on the vehicle (it may have features that you are not aware of, or that you want but are not installed): BMW Baureihenarchiv - BMW Vehicle Identification Number (VIN) | bmwarchiv.de Just make sure you get everything you want, and don't settle on a car that isn't exactly what you are looking for.

Good luck in your purchase, and please keep us updated if you purchase in the near future. I'm sure I speak for many here, in saying that we love pics of new members' vehicles, modifications, and any quirky pics you have of your vehicle.

Kindly, :checkeredflag:
 
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Interesting comments about maintenance. BMW dealers are simply obscene! (Bring More Wonga)

Condition based servicing is only part of the story. I personally like a high degree of preventative maintenance....so....

My 08 at 30k miles had all fluids (engine/gearbox/diff), filters (genuine) and plugs changed irrespective of the CBS read out. Brake fluids had been done within the last year so that should be ok. My rationale is CBS stretches everything and sometimes a time reboot service is better. I'm happy with this approach....I know many of us change the oil more regularly than recommended anyway!

BMW franchise £2500:eek:oohhh:.....Independent (trusted) £1000:)

My brakes are well within tolerances at 32k miles so no costs there, but I know I can get change out of £1100 for that work when necessary. I can get 4 Michelin tyres (recently changed) for under £1100.

Condition on these cars is key. Good maintenance essential. Warranty a must. Then, enjoy the Beast and just drive!!!

Best regards
Mark
 

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At 32k miles, judging by the year of the car, I recommend you change the plugs, Do an oil change, Change out the SMG and dif oils. and check when microfilters/brake fluid were done last. If you buy your own parts, this entire service can be considerably less than the dealer. If you do all these services(if needed,) You won't need to do any service to the car for another 30k miles besides oil change(every 5k,) Brake fluid(every 2 years,) and microfilters(Pretty sure every 2 years, too.)

Plugs- $125 on amazon
Fluids I forget but you can get them on ecstuning.com or getbmwparts.com for a really good price. Then you can get any independent shop to do all of the above services for about 5 hours labor.

Nick
 

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my indy charged $1000...all fluids swaps (PS, brakes, tranny, diff, smg, oil, coolant) and plugs. Very important to establish a base line right after you take ownership. Google Mike Miller old school Maintenance.

what is the build date on the vehicle?
 

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my indy charged $1000...all fluids swaps (PS, brakes, tranny, diff, smg, oil, coolant) and plugs. Very important to establish a base line right after you take ownership. Google Mike Miller old school Maintenance.

what is the build date on the vehicle?
Absolutely right on establishing a baseline!
 

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Can you elaborate on exactly what you're referring to regarding the "baseline?" I'm reading the Mike Miller document now as well.
 
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