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I have an 08 beast with 44,000 miles, fully loaded that I paid 50,000 a few years for and I simply don't use it enough and was going back and forth thinking about selling. After yesterday's experience, I don't think I will ever sell the beast

Yesterday I stepped into a Honda dealer and realized that you could not even buy a new accord with what we are selling our cars for. We are getting somewhere around 35K for a 4 door sedan that has ferrari speed. You can't even buy a Japanese "economical" sedan for what we can get for our cars. I was out this morning with the beast and there is nothing like stepping on that accelerator and hitting 100 without effort.

With all of the negative posts and I am thinking about selling etc etc.... I wanted to share a positive experience... I have had the beast for 3 years, religiously dealer maintain the vehicle and the only thing that ever went wrong (knock on wood) was the dvd drive went bad. Other than that, she is a beast that loves to have her legs stretched out and I don't plan on selling a once 6 figure car for a new lawn mower powered Honda!
 

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I too, agree with you. With ours depreciating so fast in value I'm not sure itd even be worth it to sell. It's crazy that a fully loaded Honda or Toyota OTD is way more than our cars. Makes me think everyone in the market for a decently priced car should should get a used e60 m5. I would never spend $30k on a new civic si. But that's just me.

Also when you compare stock numbers, our cars take the cake. No question there.

Dan
 
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If you are not choosy with the options, it's better to buy car 1-2 years old, because they lose a lot of value in first few years.
BUT, if you buy car new (and chose all options that you want), I don't think it's a good idea to sell the car after 3-5 years. They lose value fast! It's better to drive the car for many years, because you built the car for YOU!
 

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If you are not choosy with the options, it's better to buy car 1-2 years old, because they lose a lot of value in first few years.
BUT, if you buy car new (and chose all options that you want), I don't think it's a good idea to sell the car after 3-5 years. They lose value fast! It's better to drive the car for many years, because you built the car for YOU!
Yep, I learned that lesson the hard way over the last 2 years. I went from a 2001 Audi A4 that was mildly modded (FrankenTurbo, FMIC, tune, coilovers, etc) to a brand new 2013 Ford Fusion because the Audi was breaking all the time (176k miles). I was trying to be the responsible family man, get something new with a warranty and drive the "family sedan". Had issues with the transmission and other 1st year car problems (fit/finish) and just generally decided that it wasn't for me. I started looking at mid-size sedans and the only cars that were fun to drive were "M", "S" or "AMG". I was pretty quickly sold on the M5 and bought it before I sold the Fusion.

It ended up taking me almost 6 months to sell the Fusion and I lost $7k on it (bought it for $29,500, sold for $22,400 1.5 years later with 16k miles on it). If I ever buy a new car again it will 1) be a performance oriented car and 2) be something I keep for a very long time. The Fusion became popular really quickly and the market got so saturated that no one was really looking to buy a used one when you could get a new one for not much more (and not have to deal with the hassle of buying private party).

The depreciation on the M5 is pretty significant, but that's the case for most cars in this category. But if I were ever to buy a car like this new it'd be something I would hold onto for 7+ years.
 

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Toyota and Hondas serve their purpose ,they are reliable economical transportation which in my opinion the m5 is not. Even though you can get a high mileage 06 m5 for around 20k it is still a 100k dollar car to maintain and repair. Some people are buying m5's and treating them like Hondas and toyotas, and when the m5 breaks it can't be fixed with $200.
 

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Toyota and Hondas serve their purpose ,they are reliable economical transportation which in my opinion the m5 is not. Even though you can get a high mileage 06 m5 for around 20k it is still a 100k dollar car to maintain and repair. Some people are buying m5's and treating them like Hondas and toyotas, and when the m5 breaks it can't be fixed with $200.
Couldn't have said it better myself. Even though the cars might cost the same now, maintaining this car is a completely different story. Nothing on this vehicle is cheap when compared to a Toyota or Honda midsize sedan. To top it off, those new vehicles are covered under a warranty for another 3 - 4years. Let's not even discuss the 10mpg vs 35+mpg....
 

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Well, that's the whole reason why the E60 has depreciated so much - it's the fear of cost of ownership.

The reason the car costs low 30's (high 20's for some 06 models with higher mileages) when it should really be worth closer to 50K is because when anything major happens the bill is around 3K at a minimum. People factor this in so they say "oh, ok, I'll take my 45K, put 10K into the bank for repairs, and buy a 35K M5."

I just bought my brother's 2008 Toyota Tacoma 4x4 6MT (yes, it's a manual) from him. Truck has 80K miles on it and is 6 years old. MSRP on this truck was 28K and change. Current blue book value? Pushing 19K. It's ridiculous - luckily I only paid him 15K. Now, WHY do you think this truck is still worth this much? Because, if you buy a 100% new Tacoma or a 6 year old one with 80K miles on it, and you put 150K miles onto both trucks, your maintenance and repair bills will not be THAT much different.

Don't get me wrong, I love the E60 M5, but it's simply a engineering masterpiece that is also a disaster waiting to happen, both for what will break and for how it will break your wallet.
 

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Couldn't have said it better myself. Even though the cars might cost the same now, maintaining this car is a completely different story. Nothing on this vehicle is cheap when compared to a Toyota or Honda midsize sedan. To top it off, those new vehicles are covered under a warranty for another 3 - 4years. Let's not even discuss the 10mpg vs 35+mpg....
Yes, but you cannot compare these cars - different class. You know when I was just out of school and was looking to buy 1st home, I was comparing very different appartment in different parts of town. Some were expensive/luxury in good location, others mid-class in good location, others simple.. and price of course was different. I remember my father told me: if you look for least expensive place to leave, you can live in tent in out back yard :) If you want to leave comfortably, you must pay for it! It is exaggerated, but very true words!

Same things with cars. If you want to drive a car and enjoy it, you must pay for it - initial price or maintenance, either way, but you must pay for it. ;)
 

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i agree somewhat with the OP. i love my M5...i think its absolutely beautiful to look at and total joy to drive. for me personally, it has been awesome because its a dream car of mine.


but i dont drive it any more. ever. so next year i do believe i will be selling mine.
 

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i agree somewhat with the OP. i love my M5...i think its absolutely beautiful to look at and total joy to drive. for me personally, it has been awesome because its a dream car of mine.


but i dont drive it any more. ever. so next year i do believe i will be selling mine.
:( Not meaning to be rude but why do you keep modding and re-wrapping it then?
 

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Im selling.. Only because i would like to keep my car for the next 4 years .. And i dont see that with the m5.. Im looking for something newer that gives me thay best bang for my buck.. If i get sedan, it will be a 2014 e63..$3000 tune and your looking 600+ wheel , 700+ torque.. If i get a coupe, it will be a c7 corvette z06.. About 550 whp/wtrq bone stock in a 3500lb car. Upgrades unknown, but i bet smaller pulley, tune, headers will get me over 600whp.. If life goes well, ill be able to afford both. Im mainly looking at the z06 and will try to get a good daily driver.
 

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:( Not meaning to be rude but why do you keep modding and re-wrapping it then?


....one more thing....and tbh im really really really into older cars now. now that my M5 is a semi-garage queen....i want to replace her with some other cars i covet. i really want to pick up an E30 M3 project. baby the sh!t out of it, mod it (tastefully). drive it to the office on fridays....car shows on sundays, etc.

selling the E60 frees up that repair budget to pick up other cars and mod them rather than just maintain this one tbh

older car list:
E30 M3
Porsche 964 911
E39 M5
E28 M5
E36 M3 vert with LS V8 Swap

my car enthusiast mindset has evolved a bit since 3 years ago when i first bought my M5. but for now, i mod the hell out of her, wash her, appreciate the fact that i have a super car saloon, take her out once a week....let her warm up for ten minutes before pulling off....barely going above 5k rpms, etc. :cool:
 

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Mine will be up for sale soon probably, ~89k but has a Troy-built motor installed by BMW in June that has 29k on it now, with 4k on the new rod bearings and Vanos line. Carrisco's old motor from the M6 board. So it shouldn't be too hard to move it at a decent price.
 

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There really isn't a car out there can replace the M5 without paying a lot more money, but that's what happens when you are trading in an old car for a new one.
I will be keeping mine forever, as long as you can afford the upkeep and hopefully replace a few of the items with a better modified version over time then these cars will last forever. Just need some of the smarter guys on here to think outside the box and get the vanos system updated :)
 

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There really isn't a car out there can replace the M5 without paying a lot more money, but that's what happens when you are trading in an old car for a new one.
I will be keeping mine forever, as long as you can afford the upkeep and hopefully replace a few of the items with a better modified version over time then these cars will last forever. Just need some of the smarter guys on here to think outside the box and get the vanos system updated :)
The e60 m5 and e46 m3 are 2 cars i would definetly come back to in like 10 years. As for now, the ridicolous power easily achieved and the new tech is what interest me.
 

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A few years ago, I was looking for an Alpine White 08-10 m5/m6 and it had to be under factory warranty so I can get a decent aftermarket warranty. After all said and done, I was looking at spending close to $60k for an '08, but I only wanted to spend $45k. So they were out of my price range. And I was gonna finance it, too.

So I decided to get a really good white Honda S2000 as I always wanted one of those and they were much cheaper but almost as fun. I got one with 58k miles for $18k, paid cash since it wasn't worth financing. Just sold it a few years down the line with 69k miles and i got $27k for it. Now I see M5s for less than i sold my s2000 for. And i gotta tell u, those prices are really attractive right now! I would love a v10 beast!!! Always wanted one since they came out.

Edit: I just saw my signature and I guess my search did not fan out Lol...
And by the way i have. BMW 535i Sport, pretty loaded, as a daily beater to keep the miles off the cars that i baby. I am now looking for a 997 GT3 but their prices have shot up! My friend got a low mileage example for $78k a few years ago.
 

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Depreciation in price is a fact of life... :)

However I look at it this way; Sure mine has lost around 20K in value since I bought it at the same time I've spent well over 10 grand on the car.

But... A replacement I'm looking at can be had for around 65K (Euro) now, and this one was around 100K or a bit over when I bought the Beast, so whatever I would have chosen I would have lost money.
 

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There really isn't a car out there can replace the M5 without paying a lot more money, but that's what happens when you are trading in an old car for a new one.
I will be keeping mine forever, as long as you can afford the upkeep and hopefully replace a few of the items with a better modified version over time then these cars will last forever. Just need some of the smarter guys on here to think outside the box and get the vanos system updated :)
All my thought exactly!
 
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