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The only thing I don't love about it is the dark wood trim. That's an easy fix if you don't like it too. The car seems like a great deal, I definitely say go check it out! Get the vin and post it and we can see the options it has too. Great car though!
 

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Discussion Starter #3
Thanks man

Looks like the car has been taken care of, I want a minty nice example of one and would be a weekend car.

I might have a friend go see it that lives down there and tell me what shape the car is in before I drive down there for it.
 

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Thanks man

Looks like the car has been taken care of, I want a minty nice example of one and would be a weekend car.

I might have a friend go see it that lives down there and tell me what shape the car is in before I drive down there for it.
Even better... a friend with a code scanner...
 

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Thanks man

Looks like the car has been taken care of, I want a minty nice example of one and would be a weekend car.

I might have a friend go see it that lives down there and tell me what shape the car is in before I drive down there for it.
Even better... a friend with a code scanning software.
 

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Price almost seems to go to be true...
 

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Just inspect it well or bring someone that knows the cars well. I cant tell you how many customers cars I have worked on that were completely trashed when I started to work on it. From the outside, the car looked great. Interior was great and clean carfax as well (carfax is worthless imo). As soon as I started to work on the engine, etc, the car was just a complete mess. Ive seen it so many times, it would be unfortunate to see it happen to more people.
 

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The price does seem a little low to me as well, almost makes me think it may be a dealer buyback or something. I'm an optimist, though, so hopefully it's an awesome car!
 

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Discussion Starter #9
Thanks for all the replies fellas

I saw this car for sale about a month ago and they were asking 41k or so.

But was not digging the color too much and the wood trim, which can be replaced easily.

I am however planning to get a warranty with the car as well, in case if I do come up with issues, and a scanner would be a definite great idea. I need to buy one.
 

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I say go (or your friend) take a look. Looks like a good example of a 2008 and low mileage of course.
 

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Price almost seems to go to be true...
The price does seem a little low to me as well, almost makes me think it may be a dealer buyback or something. I'm an optimist, though, so hopefully it's an awesome car!
I disagree. This car still has some wiggle room in price. Figure you should be able to get that price down another $2-3k, maybe more. The high asking prices on this board have tainted the reality of true market value of these cars.

Check out this example:

Used 2008 BMW M5 for Sale in Wallingford CT 06492 Imports Unlimited
 

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I disagree. This car still has some wiggle room in price. Figure you should be able to get that price down another $2-3k, maybe more. The high asking prices on this board have tainted the reality of true market value of these cars.

Check out this example:

Used 2008 BMW M5 for Sale in Wallingford CT 06492 Imports Unlimited

Dave, seriously......I must say it. You have no idea what you're talking about. Stop basing your opinion on the value of these cars on that one car you just so happened to find for sale for cheap. Why don't you send a link of one that's 43,000, or 42,000? You always chime in these posts with your opinion on these cars being worth crap. Why did you even buy one? And I know you're going to say I have no clue what I'm saying, but, I also am the one that sold 50 cars last year in my free time as a hobby. I do know what I'm talking about and you my friend, do not. Cars are worth what they are actually sold for. Not what one monkey that happens to have a buyback is selling it for.

Nick
 

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I guess all these dealers are morons and just never sell cars ????? I'll tell you what, you keep going online and searching for cars, and searching based on price lowest to highest, you'll be getting some crappy cars. You go online and find the cheapest car in the country and base the value off that, it's insane. Here are some links, do your research. According to you though, these are all about 10k overpriced and they'll never sell right?? Well, I guess it's a good thing you aren't in the car business.

http://cl.ly/image/293u0b2x2k2b

http://cl.ly/image/3Z2c0k450t2h

http://cl.ly/image/3Z3a033V1Z0J

http://cl.ly/image/3p1f0O0W0t1l

http://cl.ly/image/1E2t0H1L0r0U
 

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Dave, seriously......I must say it. You have no idea what you're talking about. Stop basing your opinion on the value of these cars on that one car you just so happened to find for sale for cheap. Why don't you send a link of one that's 43,000, or 42,000? You always chime in these posts with your opinion on these cars being worth crap. Why did you even buy one? And I know you're going to say I have no clue what I'm saying, but, I also am the one that sold 50 cars last year in my free time as a hobby. I do know what I'm talking about and you my friend, do not. Cars are worth what they are actually sold for. Not what one monkey that happens to have a buyback is selling it for.

Nick
First of all, how do you know that car is a buy back? Have you contacted the dealer and asked for a Carfax report? I can only assume that you're guessing. You are correct in that people can ask whatever they want for their cars. What they actually sell them for and how knowledgeable the buyer is can be a completely different story. I find that the majority of asking prices on this board are either high or just plain outrageous. The For Sale section of this board is no place to go if you want a taste of "real world" prices. I'd be willing to bet you that average national auction prices on a 2008 loaded M5 with 35-40k miles are in the $30k range....perhaps less. 2006 models with the same miles are likely under $25k. You can spout off all you want about me not knowing anything. But you can be rest assured that I do all of my homework before I make a major purchase like this. Friends and family always come to me to help them get fair deals on cars and other items so they don't get ripped off. Am I cheap? NO!! I just choose to pay a "fair" price and not be snowed. I try to pass my knowledge on to unsuspecting people who might be about to have the wool pulled over their eyes whenever I notice something like this.

I am a car dealer's worst nightmare as I come in loaded to the gills with info. I allow them to make a decent profit, but not an outrageous one. I am never afraid to walk away from a purchase, no matter how much I like the item. That's because I know there's always a better deal to be had somewhere else. Apparently lots of folks around this place don't realize or know how to do this. I guess that's why asking prices on this board and some dealers remain very high.
 

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How and why are you comparing anything to auction prices? Those aren't relevant to you. I will gladly explain why. You go online and waste some of your time searching for cars. You think because dealers can go to an auction and buy the car, you are entitled to that price(or close to it,) *and* you think you can dictate what a "fair" or "decent" as you call it profit is on the car. Who are you to say what is decent profit? Are you paying the overhead the dealer has? Or how about any of the payroll they are paying? How about the insurance? How about any of the auction fees and transport costs? What about any of the service and detail fees? For some reason all of these fees don't mean a thing to you. Well, you aren't a dealers worst nightmare because you come "loaded to the gills" with info, you are their worst nightmare because you insult their business in their face and expect them to give you their service for free. You said you aren't cheap, but, you are exactly that, cheap!
 

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just to break it down for you, it generally costs about 33-34k to get a 2008 M5 to a dealers doorstep. Dealers generally use something called floorplan financing to purchase these cars. They pay interest on the money they borrow to get their vehicles. Now add in their expenses day to day, and oh, the most important part, the profit they need in order to earn a living and feed themselves and their family, and you have a much higher asking prices than you think these are worth. You don't take anything besides what you see them sold at auction for into consideration and that's just wrong. Compare apples to apples, not real world to your fairy tale world.
 

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It actually just annoys the hell out of me that you think like this. It even more so annoys the hell out of me since I just invested in a car dealership. It's people like you that expect a dealer to lose money on a deal because you think you are entitled to a car because of what they sell for at auction. You clearly know nothing about business and what it takes to actually make it as a business owner, and if you do, act like it!!!!!!
 

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How and why are you comparing anything to auction prices? Those aren't relevant to you. I will gladly explain why. You go online and waste some of your time searching for cars. You think because dealers can go to an auction and buy the car, you are entitled to that price(or close to it,) *and* you think you can dictate what a "fair" or "decent" as you call it profit is on the car. Who are you to say what is decent profit? Are you paying the overhead the dealer has? Or how about any of the payroll they are paying? How about the insurance? How about any of the auction fees and transport costs? What about any of the service and detail fees? For some reason all of these fees don't mean a thing to you. Well, you aren't a dealers worst nightmare because you come "loaded to the gills" with info, you are their worst nightmare because you insult their business in their face and expect them to give you their service for free. You said you aren't cheap, but, you are exactly that, cheap!
I understand about overhead costs. I also understand that cars that go really low at auction....such as a 2008 with under 40k miles at a price of say $25k likely need to have lots of maintenance done on them at a cost to the dealer. I also believe that $3500 is a fair net profit on a used car like an older M5 (after factoring in the money that the dealer had to put into the car). If you're a store that only sells a few cars a month, I can see why you might want to make an $8-10k profit on a high end used car like an M5. Used cars are always wayyy more profitable than new cars. A new car may be sold for little to no profit to a car dealer as they make the majority of their money in the service department and on used cars. My uncle was in the car business (sales, F&I, and GM) for well over 35 years and I learned a lot from him over the years. Take that for what it's worth. But there's a reason that people come to me to help them get a fair price on their new and used cars. Buyer beware, but they don't need to be if they have me helping them.

I have a feeling that I purchased my first car before you were an itch in your daddy's pants. You selling 50 cars in your free time last year sounds like you have a vested interest in keeping asking prices high on this board. That's perfectly fine with me. But don't get pissed off at me for throwing potential buyers a little knowledge to help them not get ripped off. Whether they choose to listen to you or me is up to them. The beauty of capitalism. ;)
 

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Well, this is awkward.

Back to the OP. Car looks great, and the price looks great. I dislike (very much) the wood interior, but I like the black on light colored seats. She looks like a beauty, good luck!
 

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I understand about overhead costs. I also understand that cars that go really low at auction....such as a 2008 with under 40k miles at a price of say $25k likely need to have lots of maintenance done on them at a cost to the dealer. I also believe that $3500 is a fair net profit on a used car like an older M5 (after factoring in the money that the dealer had to put into the car). If you're a store that only sells a few cars a month, I can see why you might want to make an $8-10k profit on a high end used car like an M5. Used cars are always wayyy more profitable than new cars. A new car may be sold for little to no profit to a car dealer as they make the majority of their money in the service department and on used cars. My uncle was in the car business (sales, F&I, and GM) for well over 35 years and I learned a lot from him over the years. Take that for what it's worth. But there's a reason that people come to me to help them get a fair price on their new and used cars. Buyer beware, but they don't need to be if they have me helping them.

I have a feeling that I purchased my first car before you were an itch in your daddy's pants. You selling 50 cars in your free time last year sounds like you have a vested interest in keeping asking prices high on this board. That's perfectly fine with me. But don't get pissed off at me for throwing potential buyers a little knowledge to help them not get ripped off. Whether they choose to listen to you or me is up to them. The beauty of capitalism. ;)
Age has nothing to do with anything here. You can't put a number on profit, you can put a percentage on it. There are operating costs and you cannot and will not ever dictate what a dealer should make on a car. Go back to searching for the lowest priced cars out there, that market exists and it looks like it's right up your alley. The rest of America will shop smart and buy a well taken care of car at it's true value! Anyways, back to the OP, this car is great! Great mileage, great price, and you might be able to wiggle a bit. Good luck on the car.
 
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