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Discussion Starter · #1 ·
I have been reading the tremendous amounts of information posted about the M5 on this board and appreciate the knowledge of its users. Several questions:

I am on the verge of buying a 5 series (540i sport vs. M5). A local dealership has a 2001 M5, with 38K miles on it for $44K. I have read similar posts regarding this topic and while you cannot make the decision for me (it is not expected); I can spend the same amount of money on a CPO 03 540i Sport w/nav. I would have a lot of warranty left if I were to buy the 03. Previously, I have never been able to afford a high performance car; should I be leary of potential problems with a check engine light on (the car has not been serviced and readied for sale)? I have read posts by David (Sweden) about what to look for when buying used and they are very informative. I have also read about Carbon build up, VANOS noises, to just scratch the surface. I think I am getting wrapped around the axle and anxious with all the information.

The local (Virginia Beach, VA) dealership does not want to CPO the 01 M5 based on time, since it was put into service in early 2000.

I plan on driving this car as my daily driver (15K miles per year). I understand what tires may cost, ins, fuel, etc. What I don't know is how oftern a Inspection I and Inspection II are perfomed based on how the individual drives the car. Should I just plan to spend $3K and year on maintenance not including tires? If I am willing to pay 45K for a used car, should I pay a little more and get a 02 m5? My practical side and want side are fighting each other. Can someone shed some light on this confusion.

Thank you in advance,

Chris
 

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Well, you already know what you want...:biggrin:

While I think a 530 is probably more reliable than an M5, I doubt a 540 is more reliable than an M5. I am inferring from your post that the M5 you are considering has a check engine light on; I would definately have this fully investigated/fixed prior to buying the car.

In terms of general stuff, just the usual: have a BMW dealership run the VIN for the service history, talk to the previous owner, get an independent inspection, drive the car prior to purchase (hard, to check for a clutch slippage), etc. I would invest in a CPO car if possible (or one for which the original owner bought the extended warranty).

In terms of 2001 vs. 2002, there are no signficant mechanical or cosmetic differences. I recommend that you buy the newest/lowest milage car you can afford.

Inspection 1 is usually done around 30K, inspection 2 at 60K (I think). I'm not sure of the yearly maintenance costs to run an M5 (I'm having too much fun driving the M5 to worry about it!).

Now, if you buy the 540, the next time you see an M5 on the street, what will your reaction be? This will tell you what to do.

Good luck!
 

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Discussion Starter · #3 ·
Thank you for clarifying the Inspection schedules. I was worried that it was every year that several alternating Inspection I and II's had to be performed.

I will get the info (codes) :confused2 on why the service engine light was on and report back for someone to be kind enough to tell me what they mean. The car in question is a local car serviced by that dealership.
 

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there's no way i'd buy the car with a service engine soon light on. Especially from a dealer, no real excuse for them not to fix it. An 01 should still be under warranty, unless over 50k miles (earliest normal production 01's should have a 9/00 production date, so sept/october deliveries. Is this a bmw dealer, if they don't 'want' to cpo it, there must be something else wrong with it.
Mike
 

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Hi, First post too, been reading for too long a time also. I'm a proud onwer of an 01' Jet Black M5 ~35K on it. Bought 1mo ago and had similar concerns and also considered a newer 540i.
I really wanted the M5 and a warranty. I found one that was CPO'd in 01/05 so I have coverage till 01/07. Low miles, clean car and a CPO pushed me to get the M5. I've been hiha ever since. Hunt a while, you should be able to find similar, good luck!!!!

-Mo
 

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mottati said:
......An 01 should still be under warranty, unless over 50k miles (earliest normal production 01's should have a 9/00 production date, so sept/october deliveries....... Mike
If in-service date was Sept/October 2000, your 4yr/50k mile would have expired in 2004, but you can still CPO till at least 2006.

mottati said:
......Is this a bmw dealer, if they don't 'want' to cpo it, there must be something else wrong with it.
Mike
That question needs to asked, otherwise run from that M5.
 

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Chris,

Go drive a few 540 sport and a few M5s, then decide which one is right for you.

There are many appalingly bad M5s pushed by crooked dealers. There are also many splendid M5s at favourable terms.

You need to get enough first-hand M5 experience to be able to tell a perfect M5 from a not-so-good one.

You definitely want a warranty if you get any powerful BMW.

If the car has a SES light beware.

Always get the full service history of any car you are looking at. There is a file posted on this board that lists all the numeric codes used to document repairs performed by BMW dealers.

If you buy a car without warranty, i think your $3k in maintenance and repairs is far too low. If I were to buy another M5 today, I would be happy to pay $3 k more per year of remaining warranty for a car with warranty compared to the same car without warranty.

Happy shopping!

David

P.S. Have a look at the Vanos info:

http://www.m5board.com/vbulletin/showthread.php?p=593190
 

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okay, i wasn't sure where to post this question. i didn't want to make a new thread just for it...so if someone out there reading this thread could tell me what a telescoping wheel is/does? thanks so much!
 

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Rudy said:
okay, i wasn't sure where to post this question. i didn't want to make a new thread just for it...so if someone out there reading this thread could tell me what a telescoping wheel is/does? thanks so much!
It's a tilt steering wheel that also moves in and out.
 

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chrisj said:
It's a tilt steering wheel that also moves in and out.
thanks chris! i tried googling it but didn't get any straight answers.
 

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KevinM said:
Well, you already know what you want...:biggrin:

................................................................................. I'm not sure of the yearly maintenance costs to run an M5 (I'm having too much fun driving the M5 to worry about it!).

Now, if you buy the 540, the next time you see an M5 on the street, what will your reaction be? This will tell you what to do.

Good luck!
Great Response.
I too were considering 03 540i sport, 04 S4, C55 and 02-03 M5.....

I am glad I got the M5.
I was lucky enough to find one low mileage and pristine condition 2 months ago.

I pick her up with 11,200 on the clock from a private seller. :1: :1: :1:

Ever since then I think I have a new disease that I can't seem to get a cure for.... I always have this :biggrin: face everytime I get behind the wheels.



Regardz,

J Irwan
 

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Discussion Starter · #13 ·
Thank you for all the responses. As I believe Kevin stated, a 540i is not an M5. I will always know the difference. Now just trying to find a good M5. BMWUSA has a lot of certified M5's. Maybe a good starting point for my search.

I realized I was getting older when USAA told me that it would only be $820 per year to insure a 2001 M5 and $1010 to insure a 03 540i sport. I remember when it was $300/month to insure a M3 about ten years ago. Oh how times have changed. . . :sad2:

I will keep you informed.

Thanks,

Chris
 

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vabchbmw said:
BMWUSA has a lot of certified M5's. Maybe a good starting point for my search.

s
Maybe.

Use autotrader and cars.com. They will give you a much better idea of 'real' pricing.

DO NOT believe that a cpo is worth anything more than an extended warranty. It is worthless to determine that the car is sound and is no guranatee of avoiding a lemon. Search here.

FInd a used car, private party, that already has the cpo- pay for an independent inspection. Drive a few.

A
 
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