[rsteele]

I'm reluctantly considering a trade out of my beloved 2001 silver E39 M5, with around 70,000 miles, into an E60 M5. Aside from a few rock chips up front, the car is immaculate. What's been everyone's recent experience with trade-in value, or with selling their car directly? I was thinking that $32,000-35,000 should be about right for trade-in.

Richard

 

[boplaw]

I'm reluctantly considering a trade out of my beloved 2001 silver E39 M5, with around 70,000 miles, into an E60 M5. Aside from a few rock chips up front, the car is immaculate. What's been everyone's recent experience with trade-in value, or with selling their car directly? I was thinking that $32,000-35,000 should be about right for trade-in.

Richard

If you can spare the time, it is always better to sell your car privately instead of trading it in. However, some folks just don't want to have to deal with it. I can't stand a dealer making money on the front end and back end of a deal. Autotrader is cheap. And M5board.com is cheaper.

 

[Lscman]

If you can spare the time, it is always better to sell your car privately instead of trading it in. However, some folks just don't want to have to deal with it. I can't stand a dealer making money on the front end and back end of a deal. Autotrader is cheap. And M5board.com is cheaper.

In many states, taxes are a concern. In my state, you are only taxed on the difference between the two vehicles when trading thru a dealer. Again, taxes due are the difference between the new car price and trade-in price.

For a car with $32K trade-in value, this means you need to make an extra $2K on the private sale to break even. My guess is you could make an extra $5-7K selling privately, but it can be a hassle. Once winter approaches, RWD cars drop in resale value a bit.

 

[rsteele]

In many states, taxes are a concern. In my state, you are only taxed on the difference between the two vehicles when trading thru a dealer. Again, taxes due are the difference between the new car price and trade-in price.

For a car with $32K trade-in value, this means you need to make an extra $2K on the private sale to break even. My guess is you could make an extra $5-7K selling privately, but it can be a hassle. Once winter approaches, RWD cars drop in resale value a bit.

I would almost certainly trade in my E39 M5 for the reasons you've given, unless I can rationalize a basis for keeping the M5 as an extra car.

I doubt that RWD cars lose value in Georgia over the winter.

Richard

 

[boplaw]

Ah yes, the dreaded sales tax raises its ugly head. That's not an issue here in SC since the sales tax on autos is capped at $300 no matter how expensive the car. But the government makes up for the cap in collecting astronomical property taxes. grrrrrrr

 

[Stickman]

I'm reluctantly considering a trade out of my beloved 2001 silver E39 M5, with around 70,000 miles, into an E60 M5. Richard

Richard,
What are you thinking??!!!

The new M5 has more power, but doesn't have the classy styling of the E-39 and you lose the nice interior and gain an i-drive.

Other than age, is anything wrong with your beloved E39 that would cause you to think such a terrible thought?!??????

 

[rsteele]

Richard,
What are you thinking??!!!

The new M5 has more power, but doesn't have the classy styling of the E-39 and you lose the nice interior and gain an i-drive.

Other than age, is anything wrong with your beloved E39 that would cause you to think such a terrible thought?!??????

No, and I have lost respect for myself for having considered it. I can spend a lot more money and have a newer, faster car, but will it be as fulfilling? For the trade "up" cost of the E60 M5 and the cost of the E60's ultimate depreciation, I could rebuild the E39 Engine, clutch, and transmission and replace all drive line bearings and still have plenty of change left over. I could probably take the car to 150,000 miles without doing any of that, except for a clutch overhaul. Logic dictates that I just keep the E39 M5, but emotion and restless consumer behavior can often result in violations of logic. After all, I bought an M5 instead of a Honda Accord.

Richard

 

[MINENCE]

Exclusivity has always been a consideration for me. You won't see any more E39 M5's than you have already seen. On the other hand the issue about the E60 is yet to be determined. I'll wait on the purchase see what happens. If I see the streets are swarming with E39 M5's as they did with M3's, I'll keep mine for sure.

 

[tetherM5]

I would bet you are looking at around 30-35K for trade in considering you are paying MSRP for the new M5

 

[Drblakjak]

Richard,
What are you thinking??!!!

Stickman, I agree. How can you live without that Sport Button. That alone is like owning 2 cars. The Audi and the Ultimate Driving Beast. Love my 02 E39

 

[DavidS]

No, and I have lost respect for myself for having considered it. I can spend a lot more money and have a newer, faster car, but will it be as fulfilling? For the trade "up" cost of the E60 M5 and the cost of the E60's ultimate depreciation, I could rebuild the E39 Engine, clutch, and transmission and replace all drive line bearings and still have plenty of change left over. I could probably take the car to 150,000 miles without doing any of that, except for a clutch overhaul. Logic dictates that I just keep the E39 M5, but emotion and restless consumer behavior can often result in violations of logic. After all, I bought an M5 instead of a Honda Accord.

Richard

Once you drive an E60 you kind of forgive its looks and really start to like it. If it came in manual it would be great. Don´t get me wrong, the 7 speed SMG is amazing, I just like to shift manually.

Never mind the extra HP, the chassis is increadibly good. The E60 is much taller than the E39, yet handles exceptionally well.

Having a E39 / E60 combo might be a nice idea...

David