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I was looking at prices for my 2002 M5 and they seem to have fallen like a rock in the last 3-4 months! Back in January, I remember seeing the cheapest ones available for maybe $27,000 or so. Now, KBB shows my car as $23,000 for turn in and $26,500 for private party! That's a huge drop in just a few months!

Did I miss something? Are our cars really that hard to sell?
 

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I just picked up a 2001 with 54K miles from a dealer for $22.9K ($24K otd) yesterday. Had some small parts breakage but was excellent otherwise, and Hawaii is notoriously overpriced on these.

Saved it from the auction house at least. Scary fact: I am selling my 52K mile 99' MCoupe for $23K, so it was pretty much a straight trade for me.
 

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I just looked at the market of cars within 75 miles of my location. So far I still got a great deal (my2000 with 60k miles for 27k).

Gotta tell ya though....I would not want to be an E60 owner. There is an 06 M5 with 54k miles selling for 50 grand. OUCH on depreciation.
 

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I just looked at the market of cars within 75 miles of my location. So far I still got a great deal (my2000 with 60k miles for 27k).

Gotta tell ya though....I would not want to be an E60 owner. There is an 06 M5 with 54k miles selling for 50 grand. OUCH on depreciation.
to Original Poster: sorry but i've said it in almost every thread i've seen about the E39's price dropping...and I have to say it here too, I HOPE THE PRICES FOR THE E39 M5s DROPS TO A SINGLE $1 regardless of mileage or quality...and i feel the same with every other car i like, because i would never plan to sell any when i get another M5 that thing'll be around forever unless a better E39 comes along and even then i doubt i'll sell it[the more the merrier]

in regards to what DINY said, these are the ones with BUY IT nows at <60k, but there's ones at 60k that can be talked down into the 50ks...OH! and i saw an e60 for 46k, but i can't find it...so yeah TYPO or SOLD
 

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Yeah those cars had to be seriously driven to average 30k miles per year.
 

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YES!

It's one of the main reasons I bought my 2002. They have gotten cheap enough to add as another toy.

Here is a snippet from another post I made back in February, before I found my current M5.
tstaples said:
The market for M5's has dropped a bunch in the last 3-6 months. In fact, the only reason I've decided to reacquire an E39 M5 is because the market HAS dropped so much. In my estimation, it's tied directly to the current housing/credit crunch. Your would-be buyer pool has shrunk considerably with the current economic conditions. Most people don't have the same (ridiculously) easy credit access as was available 6 months to a year ago. The ability of certain buyers to fund high dollar purchases by pulling "equity" out of their house has mostly dried up as well. Now your buyers either have to finance, which is difficult for a high dollar 6-7 year old car, or be able to pay for it outright. I suspect there are very few of those types of buyers either.

I'm currently seeing M5's with 50k-70k miles selling for low-mid 20's in avg condition, to high 20's in good shape. Very few are selling, but the ones that are, seem to be in this range. There are a lot of cars sitting around not selling in the 30's for price. I've even seen a couple of asking prices in the $40's and one guy at $50k for an E39. Good luck with that!

I'm new to this board, but am a long time Porsche enthusiast, and I'm seeing the same thing happening in the Porsche community. I recently helped one of my co-workers find a cherry 2002 911 with 33k miles for less than $32k. The current economic conditions have changed things dramatically in a few short months. I don't see anything wrong with your car, I just think your price expectations are not in line with the changing market. If you really need to sell, then adjust to the market accordingly. If not, hold on to it and keep enjoying the car, along with all the other fun toys you have in your garage! Best of luck!
Here are some recent threads that touch on this subject.

http://www.m5board.com/vbulletin/showthread.php?t=116868

http://www.m5board.com/vbulletin/showthread.php?t=113649

http://www.m5board.com/vbulletin/showthread.php?t=113618
 

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Quote: I just picked up a 2001 with 54K miles from a dealer for $22.9K ($24K otd) yesterday. Had some small parts breakage but was excellent otherwise, and Hawaii is notoriously overpriced on these.

Island, welcome to the world of M5's. They complement the coupe well.
 

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to Original Poster: sorry but i've said it in almost every thread i've seen about the E39's price dropping...and I have to say it here too, I HOPE THE PRICES FOR THE E39 M5s DROPS TO A SINGLE $1 regardless of mileage or quality...
me too cause I would like to pick one up for a track car. :blabla:

I am planning on driving my '00 until the day it suffers catastrophic engine failure.

Steve
00 M5
84 911
02 G500
64 356C
88 FJ62
 

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Inevitable. Out of warranty means the buyer has to sock $ away for repairs and $4/gallon gas will also put a damper on a car that gets under 20 mpg. Well under 20 mpg in most cases!
 

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Car sales in general right now is really slow, so when times get tight, $$$ amounts changed per units goes down to stimulate sales. I picked up my '01 540/6 with 47k miles almost two years ago for $23k, and that was a steal. Now, my car will trade hands in the mid teens. Time to sell it to the insurance company and get an M...:haha:
 

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I picked up my 2000 m5 for $17.5k with 110k miles.

Immaculate condition with the only flaws being a busted control arm, a bad blower final stage unit, and a broken cd changer.
 

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Time to sell it to the insurance company and get an M...:haha:
Agreed! Stop being a girlieman and step up to the plate! :haha:
 

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Yes, used higher end cars are taking a big hit right how.....it works for me AND against me.....I just bought a 06 M5 with 20,000 miles FULLY loaded WITH H&R springs, Software, Evo pully, clear bra and window tint and more for $56,000...I am betting that it's NOT gonna go down another 10grand in the next year.....but who knows?

On the flip side.....I am trying to sell a 996TT that has $50,000+ in mods and only 30,000 miles....and I can't get calls unless I go low $60's.......people are holding on to their money right now....great time to buy.....bad to sell....
 

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On the flip side.....I am trying to sell a 996TT that has $50,000+ in mods and only 30,000 miles....and I can't get calls unless I go low $60's.......people are holding on to their money right now....great time to buy.....bad to sell....
Chris, have you posted an ad for your 996tt on this board's for sale section? If so, did you have a full write-up of the mods and furnish pictures?
 

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Yes, used higher end cars are taking a big hit right how.....it works for me AND against me.....I just bought a 06 M5 with 20,000 miles FULLY loaded WITH H&R springs, Software, Evo pully, clear bra and window tint and more for $56,000...I am betting that it's NOT gonna go down another 10grand in the next year.....but who knows?

On the flip side.....I am trying to sell a 996TT that has $50,000+ in mods and only 30,000 miles....and I can't get calls unless I go low $60's.......people are holding on to their money right now....great time to buy.....bad to sell....
Not entirely the case. I spent a month looking all over the country for a 1 or 2 year old Range Rover Sport Supercharged and they were all as much as a new 2008, so I sucked it up and bought the new one...
 

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I was looking at prices for my 2002 M5 and they seem to have fallen like a rock in the last 3-4 months! Back in January, I remember seeing the cheapest ones available for maybe $27,000 or so. Now, KBB shows my car as $23,000 for turn in and $26,500 for private party! That's a huge drop in just a few months!

Did I miss something? Are our cars really that hard to sell?
Hey, maybe i can afford one now!
 

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When did the prices drop so much?!

I'm looking around on ebay and autotrader, and the MY2k's are going for around $20k ish for 60k miles :eek:oohhh:

MY2003 is still up there though.
 

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Merged. JBSS... you had better not be trolling...
 

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2002 BMW M5 E39 Dinan
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Hahaha. This is indeed true. I got my 2002 M5 w/ Dinan badge and deserving the badge, with 55K miles for 22,000. This was 2 weeks ago.

Tires were 65% worn and MAF stills throws Check Engine since i havent got any VW mafs yet. But the tires got replaced next morning after the first night out.
But I believe even in the crappy market I got a great deal. No dings or dents & clean interior, new clutch, etc.
 
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