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Discussion Starter #1
Hi,

I'm in the process of buying a used '01 or '02 M5 and was hoping to get some help from the experts on this board. I really just have a few questions:

1. In searching through the threads, it seems that the '00 had the oil burn problem and '00/'01 had the carbon build up issue. Looks like the carbon issue is somewhat random, but is there a place where I can find out the vin number range for cars that burn oil? I read through the FAQ on inspecting the car, anything specific to the '01 and '02 cars that i should know?

2. What is a reasonable price to pay for a '01 w/ roughly 25k to 30k on it and in good condition? Do you guys think that prices drop further when the new M5 is in showrooms or is that already priced in today? How much more should I pay for a '02 w/ the same miles?

3. What premium would you pay for a BMW certified pre-owned? Is it worth getting at all? If I do buy the car from a dealer, is it worth it to buy the extended warranty, and are there 3rd parties that offer extended warranty on the M5?

I hope I'm not repeating too much of what's already covered, but I did try to search through the forums.

thanks very much,

Bill
 

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lubillybob said:
Hi,

I'm in the process of buying a used '01 or '02 M5 and was hoping to get some help from the experts on this board. I really just have a few questions:

1. In searching through the threads, it seems that the '00 had the oil burn problem and '00/'01 had the carbon build up issue. Looks like the carbon issue is somewhat random, but is there a place where I can find out the vin number range for cars that burn oil? I read through the FAQ on inspecting the car, anything specific to the '01 and '02 cars that i should know?

2. What is a reasonable price to pay for a '01 w/ roughly 25k to 30k on it and in good condition? Do you guys think that prices drop further when the new M5 is in showrooms or is that already priced in today? How much more should I pay for a '02 w/ the same miles?

3. What premium would you pay for a BMW certified pre-owned? Is it worth getting at all? If I do buy the car from a dealer, is it worth it to buy the extended warranty, and are there 3rd parties that offer extended warranty on the M5?

I hope I'm not repeating too much of what's already covered, but I did try to search through the forums.

thanks very much,

Bill
First, wecome! I hope you find your M5.

1. There is no place to find VINs for cars that burn oil. Some do, most don't. It seems that most that do are MY 2000 but many with MY 2000 M5s report no problems. There is a certain build date in 2000 where the piston design changed and VANOS issues are less likely; I think this was 3/00 but do a search. Other than the VANOS issue, piston design change and cosmetics, there are no signficant differences between model years. There are plenty of threads on the cosmetic/NAV changes that appeared with MY 2001.

2. You will pay a bit for low miles, but well worth it IMO. For the miles you want: 2001 - $41-45K; 2002 - $ 45-50K, non-CPO. CPO generally adds $3K to 5K to the price, in part because you are usually buying from a dealer. However, some original owners purchased the extended warranty, and this is transferable. Condition of the car and how it was treated (speak to the previous owner!) have alot to do with value. You can occasionally (as I did as well as Ard, the resident expert in this) get a BMW dealer to CPO a private owner's car for much less than it would cost to buy the CPO car from the dealer. Yes, values will drop as E60 M5s come it, but part of this is just time; the longer you can or want to wait, the better any used car prices will be.

3. See above. Get some kind of warranty. I'm not sure about 3rd party warranties, but there is plenty of information if you do a search.

I hope you find your car!
 

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Hey!!
Just to folow up on a few points. The prices quoted sound about right. However, you do want to check body panels for re-painting. Usually a typical body panel should not read higher than 5, from factory they are usually between 3.5 to 4.8 or 5.0, just something to check.
Also, if you buy a CPO make sure the CPO was recent and not done a year or so ago by another dealer. You can go to www.bmwusa.com and look under the certified BMW category and view the check list as well as see what the program covers and does not cover.
I looked for almost a year and saw al ot of M5's, trust me when I say it is worth it to go slow and buy the right one!! The BMW website is also an excellent place to compare CPO prices,mileage,color,interior,optoins and so forth. I was willing to travel anywhere for the right car. You will find a lot of people on this site drove a few hundred miles or had the cars shipped to them, for the right one. Big items to check, tires,brakes,clutch,when was last service??
:typing: Enough from me, I hope its helpful and wish you the best of luck!!!! :M5launch: cherrsagai
 

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I probably shouldn't be asking a Q in this thread...especially before doing a search, but here goes...

Is it possible that carbon buildup issues are showing up on older E39 M5 cars simply because they have largely seen more miles? I really don't know if the S62 motor was later modified to prevent buildup. Then again, maybe the rate of carbon buildup is largely a function of oil usage. I feel sure "some" early cars use less oil than some later ones.

This may be worth looking into, just in case you find a lower mile early car.
 

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Lscman said:
I probably shouldn't be asking a Q in this thread...especially before doing a search, but here goes...

Is it possible that carbon buildup issues are showing up on older E39 M5 cars simply because they have largely seen more miles? I really don't know if the S62 motor was later modified to prevent buildup. Then again, maybe the rate of carbon buildup is largely a function of oil usage. I feel sure "some" early cars use less oil than some later ones.

This may be worth looking into, just in case you find a lower mile early car.
The carbon build up problem is not limited to '00 model year (or early '00/'99 build dates). We have one example of a confirmed carbon build up fault on a '01 MY with only 17,000 miles. Oil consumption may be a factor, but we have an example of a carbon build up fault with an M5 that consumes almost zero oil. In addition, we have yet to hear of a single case of a carbon build up problem on a European M5, although oil consumption certainly is not going to be less with European cars than with US cars. A key factor may be the gasoline, but we currently do not have much information on this.

Cheers,
 

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Discussion Starter #9
Hi, Thanks for all your help, I really appreciate it and will let you know when I finally find my car.

One additional question. How much credence should I put on the CPO certification? I found a CPO car that is almost exactly what I want, but it's 2000 miles away. Would it be wise to buy the car w/o inspecting it myself if it's from a dealer and a CPO car? I guess I'm just wondering how thorough BMW's own inspection tends to be.

thanks again,

Bill
 

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the cpo inspection process is pretty variable. I bought a cpo car that had burnt out pixels in the dash (pretty obvious fault) and leaked oil on my garage floor within two weeks of bringing it home. I think if the dealerships service dept is really slow, you might get a good inspection (i.e. they're looking for a job to bill) otherwise the dealers have the attitude that the car is under warranty anyway, so if the customer finds a fault, they'll fix it later.
Mike

lubillybob said:
Hi, Thanks for all your help, I really appreciate it and will let you know when I finally find my car.

One additional question. How much credence should I put on the CPO certification? I found a CPO car that is almost exactly what I want, but it's 2000 miles away. Would it be wise to buy the car w/o inspecting it myself if it's from a dealer and a CPO car? I guess I'm just wondering how thorough BMW's own inspection tends to be.

thanks again,

Bill
 

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lubillybob said:
How much credence should I put on the CPO certification?
Think of CPO as a way to get a warranty (full of holes, but still better than nothing), don´t think of CPO as any indication the vehicle is in perfect condition.

At least ask a fellow board member to go have a look at the car and drive it before you buy it, or still better go there yourself.

David
 

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I agree on CPO. Generally, I think they're worth it for the warranty coverage, but I don't assume that the CPO'd car will have fewer issues than one that's not. Except for fixing obvious cosmetic stuff, it's a rubber stamp. You're just paying for a warranty.

I would be reluctant to pay a significant premium for a CPO '01. Reason: many of them will have gone into service in 2000, and therefore their CPO coverage will age-out sometime in 2006.

I would be curious what other board members think, but I suspect that e39 prices will continue their steady drop. A 15% drop over the next year would not surprise me.
 

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Discussion Starter #13
Again, thanks for all the help.

Would any board member be willing to help me look at a car in San Antonio? Alternatively, could you recommend an expert in the area that I should hit up?

Obviously I would try to compensate for the inspection somehow. Thanks,

Bill
 

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lubillybob said:
3. What premium would you pay for a BMW certified pre-owned? Is it worth getting at all? If I do buy the car from a dealer, is it worth it to buy the extended warranty, and are there 3rd parties that offer extended warranty on the M5?
I found this web site helpful regarding after market warranties.

http://www.extended-warranty.info/autowarranty/

I think the downside to an after market company is they have to approve the work before a dealer can perform the repair. Might add some time to get the work done.

Here's a thread form a member who has had good luck with a third party warranty.

http://www.m5board.com/vbulletin/showthread.php?t=59508

Welcome and good luck!
 
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