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Discussion Starter · #1 · (Edited)
Hi all, new to this board but have been lurking for a while. Thanks for this tremendous resource that you all contribute to, I've been able to learn a lot about the E60 M5.

I live in Canada and am looking potentially to get my first M5. The car that's caught my eye is a 2008 with the 5.7 L Dinan stroker engine, it's also had it's exhaust modified (ASR) and has the usual spring mods to lower it a bit. The mileage is low, the car looks like it's in amazing condition (in pictures at least) and the price is very good (somewhere around the dealer cost for a stock M5 of this vintage) as the seller (who now resides out of country) apparently needs to sell it fairly urgently. Yes that has all my alarm bells ringing too (it sounds too good to be true) but so far it all seems on the up and up so I'm taking it at face value.

I've asked all the usual questions (want the VIN and a Car Proof/Car Fax rpt, asking for all the details about who has modded it and when, has it been track driven etc.) but thought I'd post here to see whether any of you had any thoughts or advice for me?

What I've heard back is that the car has been very well taken care of, all regular service done, no accidents, never driven in the wet or in snow. It's possible, given how much love and care this car has seen that the owner is an active member here as well I suppose (that would make me feel better about the purchase to be honest).

The other question I had for any Canadian owners is what type of insurance you have on yours? I chatted briefly with my broker today and, reading between the lines, got the impression that a car with significant modifications might not be insurable with them. I called around to a couple of the specialty insurers and, while they take old cars or modern 'collectibles' I was not able to find anyone who would take a modded 'new' car. One option would be to simply insure it as a stock M5 with my broker but that obviously carries some risk. Again comments and advice would be appreciated on that one. MTIA. :cheers:
 

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The tires tell alot about a car. If the sidewall has alot of rash on it, it has likely been tracked (due to sidewall flex). If the rears are worn much more then the front then it has seen some hard launches. Everything else is well described here:Checking Your Tires for Wear - For Dummies. I'd recommend finding the nicest example you can, a low milleage certified pre- owned 2010 M5 just to know what an M5 feels like in mint condition. Alot of people are put off by gearbox clunks, when in fact it is normal.
 
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Discussion Starter · #3 ·
Thanks that's a good point. The pics I've seen of the rubber suggest they are in excellent shape but I will have a close look for sure. I've also mentioned that I would like to have the car inspected pre-sale at a local shop that is authorized for Dinan work.
 

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I'm getting MAJOR alarm bells with the seller being out of the country and needing to sell 'urgently'. Those two things have the signs of a scam, so proceed with EXTREME caution.

Bruce
 

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Ask the seller if you can actually see the car in person. If he give you an excuses, than it's scam, if you can go see the car, I guess you can take it to the next level.
 

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I'm getting MAJOR alarm bells with the seller being out of the country and needing to sell 'urgently'. Those two things have the signs of a scam, so proceed with EXTREME caution.

Bruce
+1
 

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Discussion Starter · #7 ·
I'm getting MAJOR alarm bells with the seller being out of the country and needing to sell 'urgently'. Those two things have the signs of a scam, so proceed with EXTREME caution.

Bruce
Absolutely agree as I noted in the original post. OTOH, it's not like I'm going to be sending him a cashier's cheque to get his car out of Nigeria :eek:h::haha::eek:h:

The only way the deal gets done is if I get a VIN to run a check, see and drive the car and have it checked out by a reputable shop. There's no reason that he could refuse any of these reasonable requests if the deal is legit.

Anyway, his story is plausible at the moment and the only way the deal can get done is if we agree on the big stuff and he flies back from the US for the cheque and a hand shake.

I'm still a bit concerned about the insurance situation though. How do US insurance firms handle cars with redone engines? Do they routinely get refused coverage or require that the owners use specialty providers?

I got a bit concerned based on what my Canadian broker told me but OTOH, this car (as I understand it) is still under the BMW warranty (I think it was purchased just before BMW altered their stance on Dinan modded engines in 2008 - I think I read that somewhere on these boards, can't find the thread at the moment). I'm thinking I'll just tell them it's a warranty covered M5 and leave it at that.
 

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Discussion Starter · #8 ·
Hahahahaha! Well I was right to have my alarm bells going after all. The guy still refuses to send me a VIN or answer any of my additional questions and then insists that we have to do the deal through Google Checkout ... making very sure that I have cash and don't need to apply for a loan ... and then kindly provides a link for me to click on ... wants me to put the money up front and then I will have 15 days to 'inspect the car' which he will ship to me at my expense, even though it's apparently located a 30 min drive from my house.

Lol, I just kept telling him to answer my questions and even did some DD on Google checkouts but searching it out myself. But then I clicked on the link he actually sent me and it was immediately flagged as a phishing site by Safari.

Here's the link to this scam ... it will probably be taken down soon tho as I'll report it to AutoTrader ...

2008 BMW M5
 
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