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I just sold my 1991 m5. I am looking at a black, caramel 2003 m5--non bmw dealer says car was bought at auction with 13, 700 miles. no service records and dealer asking around 60K. he says no body damage but did agree to allow me to have the car inspected by an authorized bmw dealer. carfax is clean---any thoughts on how to go about this and what would be a fair bid for the car?
 

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Have the BMW dealer 'access' the ECU to ensure that no 'abuse' has taken place; (an over-rev, etc.). If you don't, then develop a problem, you could easily be denied warranty service.
 

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thebishman said:
Have the BMW dealer 'access' the ECU to ensure that no 'abuse' has taken place; (an over-rev, etc.). If you don't, then develop a problem, you could easily be denied warranty service.
thanks---deealer said it has a dinan chip installed--thanks
 

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Agree with above.

Without extended warranty (presume 2 years left on the factory warranty) and presuming no previous damage or abuse, $57K is a reasonable offer; maybe start with 56K and see where it goes. Obviously the longer the dealer has tried to sell the car, the better deal you are likely to get.

How many owners or transactions does the Carfax show? I would also try to make sure this was not a M driving school car from the BMW plant in SC; the dealer may be able to tell this from the VIN.

Good luck, Kevin
 

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with only 13k on it, it could theoretically have not had any factory service, other than a 1200 mile visit!
Mike
 

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Offer 55 and see what happens......I had a friend buy one in MD with about same miles for 56 last month......doesn't hurt to ask......if you can't get them to budge, ask for new floor mats, trunk mat, any dings taken out by Dent Wizard, free Inspection I or first oil/coolant/brake fluid service free.....see if non-dealer has connection with BMW dealer and can have the car CPOed to get a warranty....it is possible....BMW dealer will have the service records on the car, which are probably minimal with the mileage.....sound like a good car....all advice given has been sound...... :thumbsup:
 

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thebishman said:
Have the BMW dealer 'access' the ECU to ensure that no 'abuse' has taken place; (an over-rev, etc.). If you don't, then develop a problem, you could easily be denied warranty service.
I don't believe this can be done without removing the ECU and sending it to BMWNA. If it is similar to the E46 M3 ECU, it will log total time spent above a certain RPM threshold. When the M3 engine fiasco hit, Jim Conforti showed the source code for the M3 where it logs total time spent above 7800rpm (redline is 8000), so a run to redline would log time on its counter -- not of much use. http://bimmer.roadfly.org/bmw/forums/e46m3/2412688-10.html
 

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Tomk said:
I just sold my 1991 m5. I am looking at a black, caramel 2003 m5--non bmw dealer says car was bought at auction with 13, 700 miles. no service records and dealer asking around 60K. he says no body damage but did agree to allow me to have the car inspected by an authorized bmw dealer. carfax is clean---any thoughts on how to go about this and what would be a fair bid for the car?
Is this the car?
08/26/04 CHICAGO Lease $54,000 13,723 Below BLUE 8G M Yes

I know it says "BLUE" above but I suspect a typo since you said the one you're looking at is black. Let me know the VIN and I can check my database of Manheim wholesale auction results. I used to be in the highline business and have auction prices on all BMW's that have sold at Manheim in the past 12 months. Hopefully my investigation reveals the exact car you're thinking about and helps you negotiate better. Best of luck and let us know how it goes.

BTW, I posted this on another thread but here's the Manheim wholesale pricing for '03 M5's as of late,

***** 2003 BMW M5 RWD Sedan 4-Door 6-Speed Manual
10/28/04 HOBBY Regular $53,500 19,073 Below SILVER 8G 6 No
09/29/04 W PALM Lease $56,800 18,576 Avg DK BLUE 8G 6 Yes
08/26/04 CHICAGO Lease $54,000 13,723 Below BLUE 8G M Yes
08/26/04 MANHEIM Regular $57,500 24,388 Avg SILVER 8G No
08/25/04 ATLANTA Factory $58,000 3,792 Avg CARBON 8G 6 Yes
08/25/04 KC Lease $58,000 10,598 Avg BLACK 8G 6 Yes
 
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