[birdie74]

What are peoples opinions of buying an M5 at a Manheim (sp?) auction. What are the conditions of these cars? I am currently working with a broker and he assures me that most of these cars are in very good condition. Anyone out there with any experiences buying at a auction? Thanks

 

[mchin]

I have been thinking of taking the same route myself. I would greatly appreciate it if you would post how you make out.

Best of luck.

 

[hudson]

All the good cars the dealers receive are put out on their lots. Any overflow of cars and unwanted cars are sent to the auction. I would look closely at these cars for prior damage and mechanical condition. M5's are awesome machines but if you get an abused one you might be sorry. Good luck.

Just me opinion
Joe

 

[ray540inyc]

definately look close. too bad you cant test drive them. i've seen so many crappy m5's this year i started looking at porsches.. but theyre just as bad im finding out too
try to run the vins pre auction if you can.
ray

 

[M Falcon]

My experience was very positive about buying from the Manheim PA Auto Auction. My broker paid $44,750; and I paid him $46,500 for a perfect 2000 M5 with 14,000 miles on it.
And, that was in September, 2003-- a year and a half ago. I'm still grinning about that deal. :hihi:

Good luck and remember, be patient- your deal will come to you.

 

[hudson]

My experience was very positive about buying from the Manheim PA Auto Auction. My broker paid $44,750; and I paid him $46,500 for a perfect 2000 M5 with 14,000 miles on it.
And, that was in September, 2003-- a year and a half ago. I'm still grinning about that deal. :hihi:

Good luck and remember, be patient- your deal will come to you.

Good looking car M Falcon
Joe

 

[ard]

You need to be VERY careful. Do not trust the broker entirely unless you are related.

They could broker a deal, including arranging for an inspection, and you still wind up with a lemon.... and zero recourse.

What year are you looking for? What is the broker charging? Probably can do almost as good private party... the killer deals on manheim are damaged goods... or very rare.

 

[birdie74]

The broker mentioned that the cars still have some factory warranty remaining. Most cars are lease returns. I'm sure the broker is telling me what I want to hear. Can some of these cars be salvaged returns, flood damaged cars? Do these cars have to meet some criteria to be placed in a Manheim auction or is everything goes?

 

[ard]

Check out:

http://www.m5board.com/vbulletin/showthread.php?t=47852&highlight=manheim

Mpower chicago might be willing t help out- drop him a PM.

I think you should be less concenred with the obvious (flood damage/totals) and more concern with major repairs that didn't total the car- or problem cars not obvious to non-BMW mechanics.

 

[Jaeger]

I bought my car on eBay. You could say I'm a risk-taker. So far, so good.

 

[mchin]

jaeger,


What, if any, research did you do prior to buying on ebay.

Thanks.

 

[madyspop]

At any Manheim auction that runs highline sales the prior paintwork or damage to any vehicle has to be disclosed. They will have a pre-auction report that will list the cars and the vin so you can do your due diligence. Also when the car is actually being run through the lane at the auctioneer is introducing the car he will dislose if there is any thing on the title stating any type of rebuilt, salvaged, flood damaged, or theft recovery.

I actually have my dealer license if you need any help finding one PM me or email me at [email protected].

 

[Jaeger]

What, if any, research did you do prior to buying on ebay.

Well, I cheated a bit since the car was local. But I was ready to buy one that wasn't. Frankly, buying a car out of warranty is a gamble, and that $150 inspection may not catch something catastrophic that the seller wants to hide, such as rings, vanos, cracked block etc. Don't forget, a BMW dealer sold a repainted car as new, resulting in the Supreme Court's decision in BMW of North America v. Gore. So you are always "buying the seller" rather than buying the car, i.e., is the person honest? If you buy a car off a lot, you know you're buying from a used car dealer who specializes in lying to people (my opinion). At least on eBay, you're more likely to buy from an honest person, and feedback helps too. eBay offers some protections, albeit limited, and if you pay with a credit card or Paypal you might get some more.

 

[matt310]

I went the Manheim route at first since it was convenient to look through their pre-sale and for-sale inventory. I wasn't able to find an Imola Red one, though.

Generally speaking, Manheim auctions are for lease returns/bank repos and the like and do not reflect poorly on the auction inventory. Additionally, I've heard throughout the industry that if a BMW vehicle, especially an M unit, sits at a BMW dealership for longer than 60 days, there are policies in place to send them directly to auction. I would assume this throws the units "back in the mix" and will likely sell to another dealership or market.

Warranties on units sold at auction are transferrable as far as I know.
I do not know the handling policies on auction units - whether they're flatbedded or transported via rail. I also do not know if you buy directly from the auction if you will be able to pay a BMW dealership to CPO it - this is probably based on your current relationship with a BMW dealership.

-Matt

 

[mchin]

Thanks for the info Jaeger.

Michael.

 

[mchin]

Oops !


Same thanks to you Matt. I did not forget about you.

Michael.

 

[rrankin///M5]

I bought my Black 2000 with 20,000 mi. at Manheim in March last year through a broker. It took him three trips to find and win the right one. Got it for $42,500 plus fee. I've been lucky so far and love it.