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Discussion Starter · #1 ·
I've seen a few threads about cost of ownership and it got me thinking. I've kept almost every receipt from every part ordered and every repair made. I may be missing a few minor ones, but it's pretty comprehensive. And since I've done a lot of the work, I've saved a ton of labor.

Background: I bought my '02 M5 in '04. It just came off a lease. I took a flight out of BWI to Ft. Lauderdale, signed the papers and drove her home >1,100 miles to Delaware. Since it was a CPO car, I nit picked a lot of stuff. I also purchased some items that, while I didn't need, I wanted to make her feel new. For example, a new steering wheel, shifter knob and parking brake lever. As a daily driver, there are the necessities such as snow wheels/tires and oil changes every 5K miles. Then of course the indulgences such as a Dinan suspension. I didn't include the stereo components I have, namely a JL 500/1 amp, 12w6v2 Sub and Audio Control EQX. I did have a clutch fiasco which cost me a lot of money and frustration. As you'll see, I've gotten my monies worth from the CPO warranty while I had it. I did have an insurance claim which freshened up the front of the car (reported all the rock chips). I can't put a price on the road kills and [email protected] quarter mile. No on the the joy I've had servicing her. Overall, I've considered myself lucky. She recently turned 100K and is still as strong as the day I bought her. I'm looking to retire her soon...I'll pick up a beater. So without further adieu, here it is, in a nutshell, my cost of ownership for the past 5 years:

https://docs.google.com/fileview?id...mEtZTQzNi00Y2IzLThmZmEtMTJmZDU1ZGU3NDBk&hl=en
 

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I have all my receipts from the years but am scared to add it up.....hahaha. Thanks for posting.
 

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Interesting. I would like to note that a large majority of those items are not "common wear" items either. Of course most of the big ticket items (clutch, flywheel, sway bars, brakes, tires, etc) are wear items, but a lot of stuff like center console, speaker grills, steering wheel, are not items I never expect to have to replace.

I admire your cataloging of all this. To be perfectly honest, my Beast has been reliable to an unsettling degree (knock on wood). I normally am not the type to just throw money at a car if something is not breaking/broken/known to break and hasn't been replaced but my POs took very good care of her and in 9 months I have had to replace... nothing, yet. Gonna take her in soon for a clutch, rear brakes, and may just throw some money at a new cooling system and new hoses everywhere. Im getting nervous that its too good to be true.

Another thing, for 5 years of ownership that breaks down to around $3k a year! Really, that is not that bad. Not a Camry, but not on par with cars it competes with in regards to maintenance costs (like P-cars). I think the reliability of these cars is vastly under-rated (and likewise the unreliability vastly over hyped). A well preserved example will do well for a long time, and yours seems to be a pretty good example of that. Thanks for the post
 

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Discussion Starter · #8 ·

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...that breaks down to around $3k a year! ...
I agree with that figure for the first few years of ownership, especially if you have a healthy mod sense and believe in routine, preventative maintenance.

To OP, you spent 150.00 on two hose clamps?!?!? I think that is probably supposed to read 1.50.
 

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Discussion Starter · #10 ·

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Another thing, for 5 years of ownership that breaks down to around $3k a year! Really, that is not that bad. Not a Camry, but not on par with cars it competes with in regards to maintenance costs (like P-cars).
I think it's important to note that these aren't just 'maintenance' costs, it's 'maintenance + mod' costs, which makes 3K a year very good!
 

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Also, for a DIYer the costs are alot less! The service here was done at service shops.
 

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I think the reliability of these cars is vastly under-rated (and likewise the unreliability vastly over hyped).
Well, all this talk lately about replacing rod bearings as a preventative measure to avoid the engine to blow to pieces at some point in time, doesn't do those reliability ratings any good, that's for sure...
 

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I bought my '02 in 2005 with 36,000 on the clock (now 67,000). It's probably been one of the lowest cost maintenance cars I've owned. The previous owner had done the Dinan suspension and chip and tinted the windows. I only added a UUC SSK and XM radio. I replaced the thermostat at 60,000. While I had the car down, I replaced the fuel filter, plugs, and pre-cat O2 sensors. I've replaced the final stage unit. My front control arms are noticably worn (new EACTuning replacements are in the garage). Other than that, she tears up tires every 10,000 (2 degree camber plates certainly speed up tire wear). Doesn't burn oil. Gets 14.5 mpg combined. Best car I've ever owned.
 

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I agree with that figure for the first few years of ownership, especially if you have a healthy mod sense and believe in routine, preventative maintenance.

To OP, you spent 150.00 on two hose clamps?!?!? I think that is probably supposed to read 1.50.

Haha, most expensive hose clamps ever.

Nice log of all costs though. I've kept all records and have been one of the lucky ones so far too. I think a clutch and some hoses are coming soon though. Been lucky in that first owner babied her and got extended warranty and transferable aftermarket so I recently got $1800 in parts/labor done for a $50 deductible. :biggrin:
 

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There's a app on the iphone called Gas Cubby and it works great for car record keeping.
 

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Nice documentation.

I have a similar spreadsheet for my 911SC that goes back to 1984. Total cost to date is about $31,000.

To make me feel better, I divided the spreadsheet into subtotals. The top half is "Planned Maintenance/Mods".

The bottom half is "Unplanned" maintenance. I contend it's the unplanned failures that play havoc with your budget.

My unplanned expenses is only about $6,000 over 25 years.

You may want to add a column for P or U (planned/unplanned). That planned category could include your warranty/mod items as well.

As a minimum, I would break out the mods. I have items on my list that I definitely did not have to do. I think you will see your true cost of ownership drop for the M5 when you remove optional expenditures.
 
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