[simbad]

Ok it's the age old question but i'm going to ask anyway....


I would love to buy a second hand M5 my budget would be about £18k which means at best if searching i can find a 2000 model with about 65k on the clock.
I want to keep it for 3 years and will do around 20k miles a year in it- mainly motorway.
I will then need to sell it and based on my financials i would need to get around £8k for it when i resell- difficult to call right, but any ideas on if i am crazy are welcome.
Some other questions...
1) Do i have to take it to BMW ? can i get it serviced cheaper elsewhere or do i need BMW expertise to make sure job is done correctly ?

2) If i was to budget around £1500 a year to look after her- is it too little (20k miles a year!)
3) How reliable are they- should i expect between 65k to 125k miles a few major things will go wrong or are there some stories of cars that just run without problem- i've seen so many with 'new engine from BMW just fitted' that it's scary?


I know it's a lot of info to ask. I know there is no definitive answer. but feedback is welcome.

I just ran an S Stype Jag 3.0 V6 for 2 years and 45k miles with nothing more than oil change services and one set of brakes at my local garage. i was amazed but am guessing that running an M5 is going to be far more complicated.
But i SOOOOO want one.

Thanks
Simbad

 

[Stickman]

Hello Simbad,
I'll give you my opinion on your questions, but I am not an expert - and I'm sure others will also reply.

First of all, it seems like your budget is very low for an E-39 M5. But perhaps if you look, you will find the right car at the right price.

You do NOT have to have your car serviced at a BMW Dealership. However, the M5 is a very complicated car and independant service shops MAY not have the knowledge to service it properly. I have a trusted BMW shop that I probably will let do the service after the warranty expires on mine. I wouldn't even think of letting a "general" mechanic with no BMW specific training to touch my M.:nono:

As far as ongoing maintenance costs, other members will have to give you input on that. Most of our cars are still under original or extended warranty. But if something breaks, expect it to be EXPENSIVE!:crying:
Good Luck!

 

[SeeSure]

Hello Simbad,

First of all, it seems like your budget is very low for an E-39 M5. But perhaps if you look, you will find the right car at the right price.

Prices are dropping :- have a look on the UK board for an example in Scotland http://www.bm3w.co.uk/ubbthreads/showflat.php?Cat=0&Number=345136&an=0&page=0#345136

For servicing I use an Independent BMW Specialist Garage in Gloucester, personally I think they are better than the dealer when it comes to mechanicals as that is all they do. They don't touch bodywork etc. (They are also ex-main dealer mechanics so they have the full training). Typical oil service is £120 and that includes the oil. An Inspection 1 was £187, half main dealer price, but there again I don't get the choice of frothy coffees or Danish pastries, however those are things not at the top of my agenda.

 

[Stickman]

Prices are dropping :- have a look on the UK board for an example in Scotland http://www.bm3w.co.uk/ubbthreads/showflat.php?Cat=0&Number=345136&an=0&page=0#345136

That's great news for new buyers! Thank you for letting me know.

 

[simbad]

Thanks See Sure- that's encouraging- my problem- and no offence- but a certain amount of jealousy :crying2: is that many people on this forum seem to be affluent enough to buy a nice M5 and not really have to care too much about the cost- just check out the threads on saving fuel ;-) and that's nice but there is also people like me that really want to own one- always have- but cannot afford to not care about the cost.

My view is that there are ways to own these kind of cars without having to spend a fortune. it may be a very different car but the jag i owned originally scared me from a reliability POV (coming out of comp car scheme to buy my own) and yet through searching down the right place to get it serviced and only going to Jag when i felt no one else would know the answer meant BIG cost savings.
From what you are saying it could be possible to buy a yr 2000 M5 without a remortgage!

does anyone have any success stories of long term 1yr + ownership without big bills ?

 

[SeeSure]

My view is that there are ways to own these kind of cars without having to spend a fortune.

Spot on, it can be done, I took about 6-8 months finding the one for me, managed to get (May last year) a 2001 M5 for stupidly low money with 29k miles.

Why ? No Warranty and no Service History, but it was a least £10k under dealer price for similar spec, age and mileage. I did HPI, AA and also managed to get the Greater Manchester Police to look at the car for a day to ensure VIN, engine number etc was pukka. They gave it a full bill of health.

Problems ? Been lucky I guess, only the pre-cat Lamda Sensors, new brake discs/pads all round, and a door actuator which deadlocked the front passenger door (but that was pricey as the inner door trim had to be replaced as there was no other way in to the door without damaging it). The only other things I've done have been because I wanted to have them done.

I've done 31k miles since I've had the car and total cost of maintenance including the issues above and servicing has probably come to no more than £2,300-£2,500. Not too bad considering some of the scare stories others have experienced. :sad2:

So that equates to about 8p a mile plus fuel.....:thumbsup:

 

[wilsodh]

Sinbad,


My two cents worth... you should be able to find a good '00 for the £ you are talking about, and it should also be coverable with a 3rd party service agreement ('warranty') that won't break your budget. You might have to stretch a bit initially to get the coverage, which you should be able to find for roughly £500/yr for bumber to bumber. This would give you peace of mind and generally is highly recommended among most M5 board members.

It is probably safe to say that catastrophic repair bills are not the norm, but we tend to hear about these on the message board more often than from members who have experienced normal maintainence costs and very reliable service. Just a note that one might want to keep this in mind when seeking anectodal information on user experience.

That said, most every bimmer owner has felt the sting of a repair bills for the 'little stuff', not to mention the cost of normal consumables (clutch, brakes). A bumper-to-bumber can cover the cost all those unexpected electronic gizmo repairs, as well as many of the larger-ticket items (with the exception of consumables). Since consumables such as brakes, clutch, tires can be costly, look for a car that has had these attended to recently. With these items in good shape, and an extended warranty, you should be in store for happy M5 motoring for years.

You have been bitten by the M5 bug, and there is no cure but to buy an M5. But as many have counseled, be patient and do your homework on the candidate car and its pedigree. If you are going to go for a higher mileage car, this is all the more important. It can be really hard to wait, but when the right car comes along you will know it.

Good luck!

Cheers,

 

[simbad]

Wilsodh,

thanks- more reasons to keep considering.

I will go check out the likes of Warranty direct etc and see what the costs are like. i looked at these in the past but was convinced that if something went wrong they normaly find a way to wriggle out of it.

As an aside my fall back options if not going for an M5 were as follows..

1)S4- cheaper to buy
2)Lexus Arsito Twin Turbo, loads of power but an import and worries me about finding people that know them well.
3)C32 AMG- £20k plus but a very nice car.

M5 is still top of list though :flag:

 

[SeeSure]

Wilsodh,

thanks- more reasons to keep considering.

I will go check out the likes of Warranty direct etc and see what the costs are like. i looked at these in the past but was convinced that if something went wrong they normaly find a way to wriggle out of it.

As an aside my fall back options if not going for an M5 were as follows..

1)S4- cheaper to buy
2)Lexus Arsito Twin Turbo, loads of power but an import and worries me about finding people that know them well.
3)C32 AMG- £20k plus but a very nice car.

M5 is still top of list though :flag:

When I looked at the likes of Warranty Direct and others the one thing that came up time and time again was that the VANOS wasn't covered, you must ask that question. I couldn't find a 3rd party Warranty that would do the M5 and the Vanos. So decided to save the money and see what happens.

If you can stand the pipe and slippers image, have a look at the XJRs. Super performance for slightly less than an M5 in price.