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Discussion Starter · #1 · (Edited)
Hi -

I am looking around for a 2002 M5 and wanted to see what others on the board think is a fair price for this car assuming it is in good condition. I am from Virginia and I've been looking around on craigslist. There are some M5s out there but they have pretty high mileage. I found one with not too high mileage (51000 miles). Can anyone tell me what is a fair price to offer this car? Thanks.

Kiet
 

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You might want to change your post title...to 2002.
 

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I bought my 2002 with 37K miles on it in January for $ 34K.
However, the market has continued to errode since then.


Al. Wise
 

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Just bought an 01' with 54K miles, no dents, new brakes and tires, but no warranty for $24K otd from a dealer. For an 02' I would expect to pay high twenties, especially if with warranty of any kind.
 

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Discussion Starter · #5 ·
Wow... $24K... that's actually a very good price for the 2001 M5. They tend to price it higher here in Virginia. However - I will continue to look around to see if I can find a better deal. Thanks.
 

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Wow... $24K... that's actually a very good price for the 2001 M5. They tend to price it higher here in Virginia. However - I will continue to look around to see if I can find a better deal. Thanks.
look at kbb.com. Its a pretty decent measure. Dont pay the "excellent" condition value as, if you read the details of that classification, very few used cars would qualify. If you can find a car in good shape that passes a BMW technicians inspection then try to offer around the "good" condition price. Expect to pay $1-2k extra for a reputable warranty.

I just bought this 02 with 43k miles and a warranty (better coverage than the BMW warranty) in good shape, included a valentine one, a k40 laser jammer, and some other goodies for under $32k.
 

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I posted a feeler for my car ('02 with 64K miles) and never really got any feedback on possible pricing, but after researching (ebay, autotrader, KBB, NADA, edmunds, etc) I was thinking the 29K range was fair. My aftermarket warranty was $3k and includes everything (and actually works as I've used it several times). Lets keep this thread going with suggestions on general M5 pricing...
 

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We bought our '03 w/ 55k miles a month ago for $27.5k. I feel this was an extremely good price. The car is mechanically very sound and the body is probably 8.5-10. The wheels have the usual peeling and it needs 1 rf tire. Nothing major to do at all (for now anyway). The Carbon Black didn't hurt either. It was actually the color we wanted when we were shopping for an '08 550.
 

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Discussion Starter · #10 ·
Wow - where did you get that deal from? An 03 M5 with 55K miles for $27.5K is an awesome deal in my opinion. I am looking to spend $25 - $27K on an '02 M5 with approximately 50,000 miles or so. Does that sound reasonable?

Kiet
 

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Last October, bought my '01 CB/Black Titanium with 45K (with M audio, no PDC/shades), new brakes but original clutch, for 34K. No warranty. No vaseline either. Clean carfax, interior 10/10, ext 9/10.

I thought I was paying a fair price - it wasn't a steal, but I wasn't getting robbed either. Looking back, I should have waited six months and probably would have gotten the same car for 28K-ish. On the other hand, a buddy bought a stock '00 (2/2000) with 59K for 32K six months prior - this just proves that nobody can predict the future.

Fair price for yours? If it was mint, I'd pay as high as 30K for it.
 

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Discussion Starter · #13 ·

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I was looking at that, I'm in houston this tuesday. But that car had an accident left front pillar I believe. Still If it was decent I wouldn't hesitate. I mapped it out but can't remember where it was now
edit, Missouri City
 

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wow that carbon black one does seem like an amazing deal. We got my 02 with 46k miles for around 30 with a bumper to bumper warranty with 4 years or 52k left on it. Being local kept the price a little higher. Starting to look like prices are dropping even more though.
 

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I think there should be more involved to the search than just price and mileage. For me, the number of owners means alot. For my car example, I probably paid a little more than I should have, but picked up a single owner car with full maintenance history and 32k miles on it. Plus the guy I purchased my car from had 4 other cars. I spoke to the service manager at the dealer where he did all of his service and had a PPI at an indy dealer. I know how the car was taken care of and that it was properly maintained. If you get a car where you are a 3rd or 4th owner, there are a lot of unknowns that could have happened. A PPI is only going to tell you so much.

There will be people who argue both sides of this point, but to me, knowing the history of the car was worth a little extra money. This is just my opinion.
 
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