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Discussion Starter #1 (Edited)
Hi guys:

I'm looking at an 03 with 70k, local one owner car. It seems like the car was involved in an accident at the end of 2004, at around 30,000 miles.

Of course, any accident on the record is weary (not to mention the fact that it decreases the value of the car immensely)...but I'm wondering if I should even consider this car. My train of thought - if the car was badly damaged, the owner would have probably gotten rid of it (and therefore it would have had multiple owners). If the repair was performed poorly, the owner would probably have gotten rid of the car as well. The fact that the owner kept the car for three years after the accident tells me that perhaps it wasn't a big deal...but who am I to say. I've never purchased an accident-ed car before, so I'm really out of ideas.

The car was recently traded into a local dealership, and it is selling at an auction. My local broker is willing to go to the auction to purchase the car for me (for a $1,000 commission), so I have not personally seen the car. He promises to let me know when he sees the car.

What do you guys think?

Thanks,

-Zack
 

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Owners are idiots... what they did or didn't do is meaningless.

Find out what was done and who did it..talk to the owner, etc.

Have the car inspected by a qualified BODY SHOP, not a dealership.
 

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Discussion Starter #3
Owners are idiots... what they did or didn't do is meaningless.

Find out what was done and who did it..talk to the owner, etc.

Have the car inspected by a qualified BODY SHOP, not a dealership.
Thanks Ard. I agree. I mean, I'm an awful driver myself.

Unfortunately, I can't have a body shop inspect it after the fact (due to the fact that this is a dealer auction). I know that if something major (like frame damage) occurred and was discovered through a post-purchase inspection, I'll be able to back out of the sale. However, I feel like once they have my money, they'd do anything to keep it :p.

I'll see what I can do. Keep the opinions coming, guys ;).
 

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WHY?,Buy this car when there's equally good 70kml cars for a couple grand more or can be negotiated to the same price as this car...if the owner took out a loan on it he might have kept it to finish paying it off and get the full amount of the trade in for something else...plus since the accident was reported he's got no reason to worry about anything, he probably went through bmw to get it fixed at one of their shops so if a single thing went wrong he could take it back free of charge if the rear end or the front end fell of {where ever the car was it} all he's gotta worry about is making it out of the car to call and have it towed to the body shop...i don't wanna scare you but i'm 100% against buying a car that's been in an accident i'd say wait and still if the carfax is clean, get a ppi done to check for accidents...personally a chassis is like a horses leg, if it breaks thats the end of it for that horse, unless the owner really wants to keep it...also if the accident was reported it was most likely because the car couldn't be driven away
 

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..personally a chassis is like a horses leg, if it breaks thats the end of it for that horse, unless the owner really wants to keep it...also if the accident was reported it was most likely because the car couldn't be driven away
Hey John
I understand what you are saying However I disagree with certain things.
1. With today's technology in the the right collision shop, A car with a minor tap (especially an M5), will have no effect on the structure of the car. Yes! if there was major framework spotted I would stay away as well from buying. But the M5/540i structure is very well reinforced and usually needs cosmetics and maybe minor straightening. Of course the Value is dropped but this doesn't mean that the car is junk or inferior to another.
2. Sometimes people will get into an accident and have it towed immediately to the shop, to start the insurance process quicker and have a more accurate claim. It doesn't mean the car is not drivable.
 

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Hey John
I understand what you are saying However I disagree with certain things.
1. With today's technology in the the right collision shop, A car with a minor tap (especially an M5), will have no effect on the structure of the car. Yes! if there was major framework spotted I would stay away as well from buying. But the M5/540i structure is very well reinforced and usually needs cosmetics and maybe minor straightening. Of course the Value is dropped but this doesn't mean that the car is junk or inferior to another.
2. Sometimes people will get into an accident and have it towed immediately to the shop, to start the insurance process quicker and have a more accurate claim. It doesn't mean the car is not drivable.
+1

Two additional items.

1. The E39s are at least 5 years old at this point (mine was built 2 months before production was stopped and will be 5 years old in just two months ... I can't believe it). If it doesn't have a few rock chips and such, it probably hasn't been driven right for 5 YEARS!

2. If you really aren't a very good driver, I would recommend a Jeep instead. Seriously, I just spent the better part of the day yesterday reviewing ALL the posts (and associated articles) by/about "Josh," who posted many times on the E60 site (regarding how to shift smoothly at very high speeds) less than 12 hours before he and his four 18 to 20 year old buddies perished. It was sobering ...
 

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Discussion Starter #8
WHY?,Buy this car when there's equally good 70kml cars for a couple grand more or can be negotiated to the same price as this car...if the owner took out a loan on it he might have kept it to finish paying it off and get the full amount of the trade in for something else...plus since the accident was reported he's got no reason to worry about anything, he probably went through bmw to get it fixed at one of their shops so if a single thing went wrong he could take it back free of charge if the rear end or the front end fell of {where ever the car was it} all he's gotta worry about is making it out of the car to call and have it towed to the body shop...i don't wanna scare you but i'm 100% against buying a car that's been in an accident i'd say wait and still if the carfax is clean, get a ppi done to check for accidents...personally a chassis is like a horses leg, if it breaks thats the end of it for that horse, unless the owner really wants to keep it...also if the accident was reported it was most likely because the car couldn't be driven away
Thanks for the input :). I completely understand this perspective (which is quite close to where I come from)...that's why I had to post this thread. The car will be significantly cheaper than anything I've seen listed, and that would be the only way I'd even think about buying it. Let's just say I've seen 01s go for more with more mileage.

BTW, I did see your thread about the car from Porter :(.
 

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Discussion Starter #9
Hey John
I understand what you are saying However I disagree with certain things.
1. With today's technology in the the right collision shop, A car with a minor tap (especially an M5), will have no effect on the structure of the car. Yes! if there was major framework spotted I would stay away as well from buying. But the M5/540i structure is very well reinforced and usually needs cosmetics and maybe minor straightening. Of course the Value is dropped but this doesn't mean that the car is junk or inferior to another.
2. Sometimes people will get into an accident and have it towed immediately to the shop, to start the insurance process quicker and have a more accurate claim. It doesn't mean the car is not drivable.
Thanks man. From the CarFax, it also seems like none of the airbags deployed...so I'm hoping it was a a case similar to your 2.
 

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Discussion Starter #10
+1

Two additional items.

1. The E39s are at least 5 years old at this point (mine was built 2 months before production was stopped and will be 5 years old in just two months ... I can't believe it). If it doesn't have a few rock chips and such, it probably hasn't been driven right for 5 YEARS!

2. If you really aren't a very good driver, I would recommend a Jeep instead. Seriously, I just spent the better part of the day yesterday reviewing ALL the posts (and associated articles) by/about "Josh," who posted many times on the E60 site (regarding how to shift smoothly at very high speeds) less than 12 hours before he and his four 18 to 20 year old buddies perished. It was sobering ...
1. I agree.

2. I see your point as well :).
 

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i don't wanna scare you but i'm 100% against buying a car that's been in an accident
John,

I'll chime in and say that I disagree with this statement also. However, my assessment is only based on the example of Ocean M5's repair work (car was rear ended). He cronicled each step as it was being repaired through several threads and I as convinced that the car was as good as new when done. Now he is keeping his car as far as I know, but the body work on it seemed top notch and I wouldn't hesistate buying his car. His posts helped.


JizJizJiz,

If it is at all possible to find the body shop and see what other kind of work they have done to get a better feeling of the work on the car?

At 70K+ and five years old, are you really looking at this purchase as an investment that you plan on selling to try to recoupe money? If this is the case, then this might not be a good purchase.
 

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Discussion Starter #14
I was kinda thinking the same thing........ I mean he said himself that he wasn't a very good driver. And, with an M5 you can get yourself into trouble in a hurry.
To be honest, it'll mostly be a weekend easy-driving car. I've had quite a few high-end high-powered cars (most recently a 996 Turbo), but I can't say with any honesty that I consider myself a "good" driver.
 

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Discussion Starter #15
JizJizJiz,

If it is at all possible to find the body shop and see what other kind of work they have done to get a better feeling of the work on the car?

At 70K+ and five years old, are you really looking at this purchase as an investment that you plan on selling to try to recoupe money? If this is the case, then this might not be a good purchase.
Thanks bud. I'm not sure if it's possible, but I'll talk to my broker.

I'm not looking at an investment. Per my understanding, with the exception of certain vintage or limited production vehicles, any car is a liability. I'm looking to enjoy it, but at the same time I also don't want the car to be unsellable/etc., should I need the money later along the line for an emergency.
 
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