BMW M5 Forum and M6 Forums banner

1 - 14 of 14 Posts

·
Registered
Joined
·
39 Posts
Discussion Starter #1
Hi All

I had to sell my 2002 m5 several years ago. i have an opportunity to buy a very clean 2003 m5 silver on black with lux package. its got 69.5k miles on it. no paintwork or damage other than a painted a trunk lid. inspection 2 done at 60k. i have no clue what these things are bringing right now and want to make an offer. what is it worth??
 

·
Registered
Joined
·
2,182 Posts
Hi All

I had to sell my 2002 m5 several years ago. i have an opportunity to buy a very clean 2003 m5 silver on black with lux package. its got 69.5k miles on it. no paintwork or damage other than a painted a trunk lid. inspection 2 done at 60k. i have no clue what these things are bringing right now and want to make an offer. what is it worth??
I was in the market until a week ago.

For a 2003 with 70K and other wise good condition and records I woudl have paid $19000-$21,000. I understand that its a pretty big window but a lot depends on factors like if the cars needs a clutch soon, if the tires are almost gone and how long the seller has been trying to sell the car.
Please remember that value on these cars is dropping rather quickly (before you flame, please remember that I also have one) and the Model year is of very small significance especially between 2002-2003 other than the DVD Nav system.

My local DMV charged me State Tax based on a $13,800 value on a 2002 with 64K miles. Just for reference.
 

·
Registered
2002 BMW M5
Joined
·
1,368 Posts
I would throw an offer of 19k, 20k max.
 

·
Registered
Joined
·
207 Posts
I bought a $17,750 2001 M5 in 2009. That (very quickly) turned into a $23,000 M5 due to maintenance.

The car was totaled, and the second time around I bought a $21,000 2001 M5 that was much cleaner and came with a ton of service records. I'm much happier this time around.

Perfectly maintained M5s are difficult to find, and when you do find them they're worth more (if you ask me). For an M5 in good shape, with perfect history and a flawless PPI, $22,000 wouldn't be a bad price.
 

·
Registered
Joined
·
1,355 Posts
Every penny you think it is worth to you! Again PPI, maintaince/ upgrades and condition, miles will all a make a difference. If the condition is good and records are there I would say mid $20's easy
 

·
Registered
Joined
·
266 Posts
I am planning on buying an 02-03 in the spring and already have resigned myself to @ least mid 20's for a low mile, records, clean ppi.

if my memory serves me, there is an old saying about getting what you pay for. it has only been reiterated a thousand times by senior members on this board.
 

·
Registered
Joined
·
226 Posts
I was in the market until a week ago.

For a 2003 with 70K and other wise good condition and records I woudl have paid $19000-$21,000. I understand that its a pretty big window but a lot depends on factors like if the cars needs a clutch soon, if the tires are almost gone and how long the seller has been trying to sell the car.
Please remember that value on these cars is dropping rather quickly (before you flame, please remember that I also have one) and the Model year is of very small significance especially between 2002-2003 other than the DVD Nav system.

My local DMV charged me State Tax based on a $13,800 value on a 2002 with 64K miles. Just for reference.

Wow, that would be a great price for an 03 with that mileage. I just paid 18 for an 02 with just over 100K. Car is in great shape despite the mileage but certainly your scenario is a better value.
 

·
Registered
Joined
·
1,284 Posts
There are a lot of variables when it comes to used M5's. It all comes down to prior owner(s) and maintenance history. Some people do not care if the car has 6 owners and no history as long as the price is right.

The car the OP listed if it comes with full history and everything checks out at PPI, I would expect to pay around 23-25k. You either pay up front, or eventually in the back end.
 

·
Registered
Joined
·
8 Posts
I just bought a 2002 with 70k miles for $22k. Complete history, new tires, new front brakes, recent clutch etc. Needed nothing. Perfect PPI at a well known BMW independent. I think I might have overpaid a grand or so, but to have the history and know how the car has been cared for is worth it. I've bought 8 or so BMWs over the years and i've been happiest when I paid a little much and got what i wanted. Feeling like I "got a deal" never compensates for any compromises with the car itself.

I'll be back with newb questions and some pics.
 

·
Registered
Joined
·
2,182 Posts
Wow, that would be a great price for an 03 with that mileage. I just paid 18 for an 02 with just over 100K. Car is in great shape despite the mileage but certainly your scenario is a better value.
Yes I was trying to not mention price.

But to be specific, I paid a little under $20K for the 2002 with everything (including extended leather and PDC) but rear window curtain, 64K miles Inspection II, T-stat, new instrument cluster and New Vanos (done in 2005) already done but the car needs front rotors, same owner since 12/2003 and like New inside out.

Hope this gives you a better starting point.
 

·
Registered
Joined
·
1,355 Posts
Seriously 19 is too low of a offer, no harm in asking i guess.
 
1 - 14 of 14 Posts
Top