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I've been searching high and low for the last few months for a low mileage 03 with plenty of warranty left (non cpo). I recently found a several 03's with under 10k miles with plenty of warranty left. Although I've seen a few over the last few months, I haven't been ready to buy quite yet, but I am now. None of the cars are located out west if that helps.

Assuming any of them check out (very good exterior/interior/mechanical condition + all services performed), any ideas on what would be a fair price?

Thanks!
 

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55-60. Below 55 would be a great deal. Above 60 could still be fair depending on the circumstances and the car.
 

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A friend of mine just bought an '03 CPO'ed car with 20k on the clock.. he paid 58,000 including tax etc .. out the door..

He got a fairly good deal I think.. :M5rev:
 

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I've also been looking for the past few months, this is what I've seen;

2003 nonCPO, I've seen two sell for 59K. These cars were in great shape with less then 20K miles.
2003 CPO'd one sold for $65K and the other sold for $63,500. Both under 20K miles.
 

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MikeLa said:
2003 CPO'd one sold for $65K and the other sold for $63,500. Both under 20K miles.
I've got to ask... where did you get these prices? from a salesman? They are well out of line with what I'd seen.


To the original post:

I agree with the comments by Ray, Wanna and Mpower-

Check out a few recent posts here- Greer got a great deal. Bluedog just sold his and it was SWEET.


Any of the guys that got great to good deals will tell you to bide your time and the right deal will happen. So many factors: color, location, are obvious- but finding a one owner car, being able to talk to the owner- sometimes this makes it worth an extra 1-2k to a buyer.

Remember- once you find a car, use the board to sound it out. Every once in a while a car with a 'history' might pop up. Plus, plenty of local folks willing to do a prelimianry 'look see' if you are too far away.

Good luck
 

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ard said:
I've got to ask... where did you get these prices? from a salesman? They are well out of line with what I'd seen.


To the original post:

I agree with the comments by Ray, Wanna and Mpower-

Check out a few recent posts here- Greer got a great deal. Bluedog just sold his and it was SWEET.


Any of the guys that got great to good deals will tell you to bide your time and the right deal will happen. So many factors: color, location, are obvious- but finding a one owner car, being able to talk to the owner- sometimes this makes it worth an extra 1-2k to a buyer.

Remember- once you find a car, use the board to sound it out. Every once in a while a car with a 'history' might pop up. Plus, plenty of local folks willing to do a prelimianry 'look see' if you are too far away.

Good luck
The CPO'd M5's were dealers. I offered both $60K and they declined. I called back and the vehicles were gone, those were the prices they said the vehicles sold for. One M5 had 12K miles, I can't remember the miles on the other.

One of the nonCPO'd M5's was a private sale that I was second in line for. I believe asking was 58,900, it had around 15K miles (perfect condition) - I'm sorry I misspoke, he sold it to someone in CA but I never asked him if he discounted the price. I'm sure if I ask he will tell me.

I'm not very good at that patience thing. I was hoping to have a 2003 M5 with warranty through 2009 on my doorstep for $58-$60K. I've almost given up. Now I'm looking at a 2003 540i with 20K miles (this wasn't easy to find either) or a new Audi 2005.5 S4 (I currently have an Audi 2002 A4 3.0)

Any help or advice would be greatly appreciated.:confused2
 

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MikeLa said:
The CPO'd M5's were dealers. I offered both $60K and they declined. I called back and the vehicles were gone, those were the prices they said the vehicles sold for. One M5 had 12K miles, I can't remember the miles on the other.

One of the nonCPO'd M5's was a private sale that I was second in line for. I believe asking was 58,900, it had around 15K miles (perfect condition) - I'm sorry I misspoke, he sold it to someone in CA but I never asked him if he discounted the price. I'm sure if I ask he will tell me.

I'm not very good at that patience thing. I was hoping to have a 2003 M5 with warranty through 2009 on my doorstep for $58-$60K. I've almost given up. Now I'm looking at a 2003 540i with 20K miles (this wasn't easy to find either) or a new Audi 2005.5 S4 (I currently have an Audi 2002 A4 3.0)

Any help or advice would be greatly appreciated.:confused2
Mike,

I'm not perfect on the patience thing either but I realized I would have to have some of it to get the car I wanted at a fair price. I offered a low ball price on a few M5s and was beat out by other buyers. Eventually my patience paid off and I purchased the exact car I wanted at a fair price. My patience added about 2-3 months on to when I had wanted an M5, but it was MORE than worth it.

The other cars you mention are great, but nothing like an M5 (I've driven both), so I think you should hold out!

Good luck.
 

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Kevin, thanks for the advice. You probably don't remember, but you and I talked about your 530 when your lease was coming to an end. At the time I was looking for a 540 - you adviced to skip the 540 and move up to a M5. Well, business is a bit better and I'm looking for that elusive M5.

I've never driven a M5 and only had a short test drive in a 2002 540 6sp, but I have spent some time in a 2005.5 S4 and a CTS V. Since you've drive all three, what's your opinion on the major differences?
 

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MikeLa said:
I've almost given up. Now I'm looking at a 2003 540i with 20K miles (this wasn't easy to find either) or a new Audi 2005.5 S4
First and foremost - drive an M5 before you decide to buy one or give up. Driving one may cement your decision one way or another, and if it's in favor of getting an M5, it may give you the patience to wait for the right one. In any event, I can't imagine spending 50k+ on a car without ever having driven the model. As great as most of us think M5's are, they aren't for everyone, and the only way for you to know if it's the car for you is to drive one.

Second, if you decide that the M5 is your first choice but can't wait anymore for exactly the specs you're looking for, broaden your seach to '02's and/or CPO'd cars with higher mileage rather than going with a model that isn't your first choice. Otherwise you'll only end up always wondering what if. . .

Third, mileage is not the best indicator of condition. I've seen many low mileage cars that looked like they'd been through hell and back, and many high mileage cars that looked like they'd just come off the showroom floor. If you're looking for a low mileage car for warranty/maintenance reasons, you can always get a higher mileage CPO'd car and add the extended maintenance plan. Same thing goes for the model year - if you want an '03 for warranty/maintenance issues, you can accomplish the same thing by getting an '02 with extended warranty/maintenance.
 

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MikeLa said:
Kevin, thanks for the advice. You probably don't remember, but you and I talked about your 530 when your lease was coming to an end. At the time I was looking for a 540 - you adviced to skip the 540 and move up to a M5. Well, business is a bit better and I'm looking for that elusive M5.

I've never driven a M5 and only had a short test drive in a 2002 540 6sp, but I have spent some time in a 2005.5 S4 and a CTS V. Since you've drive all three, what's your opinion on the major differences?
I do remember, Mike, and I'm glad you are searching for an M5.

The 540 is a great car, but coming form the rack and pinion steering of the 530, the recirculating ball steering felt a bit aloof, and the power gain was not enough to offset this for me. When I first drove the M5 it became clear that it is in another class. The sport button tightens up the steering (not quite as good as the 530's rack, but close), and my god, the low end power...

The S4 is likewise a great car, but does not feel as luxurious or have the same solid feel of the M5. It is clearly more of an M3 competitor in terms of the feel and spaciousness. This is not a bad thing, but the buyer of one is usually not in the market for the other.

I have only spent limited time in the CTS-V but the interior and dynamics, having come from a 528 and then a 530, did nothing for me. Still, no question a big bang for the buck.

You must drive an M5 before you can make this decision. Hell, come down to Tucson and you can drive mine. Don't be shy about driving the ones for sale in Phoenix.

Let us know!
 

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as a recent buyer of a 2003 M5 let me tell you what i did. I went to the for sale section of this Board evey week for 5 months till the car I loved came for sale. There is nothing like talking to the previous owner and looking at his post history to see what the person is like. I did'nt want to buy some auction car or lease return from the dealer and not know how the previous owner treated the car.

I've posted before but here is what I bought: 2003 M5 Ti. Siver with silverstone sport interior with 5200 miles on the clock. I bought the car for 58K and i'm very happy. It also has 33 months left on the original warranty.

So my advice is: be patient, the right private party car will find it's way to your garage soon enough.
 

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KevinM said:
You must drive an M5 before you can make this decision. Hell, come down to Tucson and you can drive mine. Don't be shy about driving the ones for sale in Phoenix.

Let us know!
I absolutely agree - you have to drive one. Once you drive one, you will start looking EVEN harder! What's that saying..."Once you go...", oh never mind.. :haha:

That said, I agree with Kevin - I live in Phoenix, if you would like to drive one, let me know - I have a 2003 Sterling Grey with 16k on the clock - everything is stock.

PM me!

Rick
 

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MikeLa said:
The CPO'd M5's were dealers. I offered both $60K and they declined. I called back and the vehicles were gone, those were the prices they said the vehicles sold for. One M5 had 12K miles, I can't remember the miles on the other.

One of the nonCPO'd M5's was a private sale that I was second in line for. I believe asking was 58,900, it had around 15K miles (perfect condition) - I'm sorry I misspoke, he sold it to someone in CA but I never asked him if he discounted the price. I'm sure if I ask he will tell me.

I'm not very good at that patience thing. I was hoping to have a 2003 M5 with warranty through 2009 on my doorstep for $58-$60K. I've almost given up. Now I'm looking at a 2003 540i with 20K miles (this wasn't easy to find either) or a new Audi 2005.5 S4 (I currently have an Audi 2002 A4 3.0)

Any help or advice would be greatly appreciated.:confused2

Keep in mind that the dealer's price, for a lease, is not the same as a cash deal... still, hard to argue if you offered 60 and they passed. Stay away from dealers!

Keep in mind that a car the dealer is selling for 60-64 is one which they paid a private party 52-55...

Don't be afraid to fly to the car- autotrader, yahoo, ebay, roadfly, m5board, cars.com... check em every day. Even if it isn't the car for you, getting details, knowing the prices will help.

It helps being anal compulsive too...

Oh, on the thought of a 540.... for me it was an M or nothing.

A
 

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There is a beautiful carbon black '03 here in Northern VA at www.selectautoimports.net. I've seen it up close and it's in great condition. I'd be happy to do a more thorough check for you. I bought my first BMW from them years ago. Pretty standard used car folks...do your homework and you get a great deal...don't ask the right questions and you find out a quarter panel was painted. Remember, always ask if there has ever been any paintwork, not if it was ever in an accident. Many of these local euro dealers have their own paint guys go in and do "touch ups" to get the cars prepped. Caveat emptor.

You should have no problem finding a low mileage '03 for around $55-58. Go super low...under 5k miles, and now you're probably looking around $60-62 because there are probably about 4 in country that meet those specs. Remember, a good deal from a dealer is ALWAYS better than a good deal from private party...strictly from the deal standpoint. Extended warranty and a place to go back to when you have a problem...very important. However, you still need to find out the prior owner and call them to chat...make sure it is what they represet it to be.

My 2pennies.
 

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I agree with everything ard said... Check all the sources, email, call, get as much info as you can to get a feel for the market. If at all possible, buy from an enthusiast on the m5board. Drive several of them so you can get a feel for how a tight one drives vs. one that has been driven hard and put away wet.

If I'm buying used, I always prefer to buy from a private party who has history of the car, and I base my decision heavily on the character of the person selling. In my recent case of buying an '03, I found BLUEDOG's car in the For Sale section and began email correspondence with him. We communicated back and forth over the course of a few weeks. He answered my questions honestly and I got a sense that he was a straight shooter. We spoke on the phone and I decided to fly out to see the car. It was as he had represented - perfect - and I had it inspected by the local BMW dealer and drove it home. All in all a great experience.

Again, do your homework and you will find your car. Best of luck.
 

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I haven't seen anyone mention kelly blue book, which surprises me. The URL is http://www.kbb.com/ These are the prices that dealers generally check. Kelly blue book offers trade-in and private party prices in addition to retail values. From my experience these values are fairly accurate with the exception that some dealers take into account what the car is loaded with, but some dealers don't, so you can sometimes find a good deal that way. I've found that a good method for buying from a dealer is to find a dealer that has a car listed near or under kbb value and then lowball them by dropping the price about 5k. Usually they will compromise.

Good luck finding your bimmers!
 

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Oops..the carbon black '03 sold last week. Okay, there's one with 3,700 miles on www.roadfly.com. It's silver. Price is...um...too much, but check it out.
 
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