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Discussion Starter · #1 · (Edited)
Okay guys, I need some E46F input for plans I have in early Q1 of 2010.

Getting to the Point...
I've grown an interest for trading-in for a used E60 M5.
It is not confirmed yet, but I've been visiting several BMW dealerships, private car yards and private sellers within NSW in the past 3 month with the old man.

Why I'm Interested...
Having test-driven several high performance European vehicles in the past (of car dealers and family/friends) and tuning several forced induced Japanese cars (including my beloved 01' S15) - I can tell you one thing; when you drive the E60 M5, it is a thrill I will never forget.

The thing is an absolute beast and the V10 sound from the 5.0L S85B50 will forever echo in my ears and heart - no wonder it won International Engine of the Year award twice-three times consecutively? It's a bloody masterpiece I tell you!
With that simple "M" button pressed, lumbar support clamping onto you, traction control off, sport suspension set, fastest shift settings...its literally a neck-breaking experience. The thrill comes when right through to third (possibly higher), without proper throttle-control; the wheels just spin, spin, spin - I can't emphasize how fun this car was to drive.

I know it sounds far fetched that I could be just making this thread to on some ideas, but my family and I have really considered it in the past. It was an option back before we bought the 530i and now I've just fallen in love with the M5.

Current Lineup...
At the moment, the old man has the mid-build 08' 530i with both Professional and Sports Packages and of course, new iDrive system with improved controller layout (It makes such a difference!).

A few minor aesthetic mods are done just like on my own 320i, but nothing major apart from a wheel change to 19" Style 172 found on the 550i and various option-selected E60 5ers.

Here is one old image taken with my phone before it had the wheel change, parked in building near State Library:


The dilemma...
Despite the fact the M5 is a superb vehicle, I'm a little bit iffy about the age and mileage of most of the M5s that are available at this present moment. They run for about $119,000, right to $230,000 for the almost brand new ones.

I'm going to be honest straight out, anything over $150k would be pushing it. I'm happy we can even afford a $150,000 car, but anything more will create too much financial stress.

So my only TWO question are...
i) Should I be iffy about the mileage and rather old age of a car like an M5? Convince me why I shouldn't?
ii) Should I wait a little longer for the new F10 M5 to come out so that the prices of the current E60 M5 are pushed down?

For those of you who are interested in buying a new car within the year that I've seen on this forum, I would really, really appreciate your input! What would you do in my situation?
 

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I was very tempted by a couple of the 2005 M5's around before i bought the M3, prices have really taken a hit last 12 months.

Be prepared for serious maintenance bills though...
 

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Okay guys, I need some E46F input for plans I have in early Q1 of 2010.

Getting to the Point...
I've grown an interest for trading-in for a used E60 M5. It is not confirmed yet, but I've been visiting several BMW dealerships, private car yards and private sellers within NSW in the past 3 month with the old man.

Why I'm Interested...
Having test-driven several high performance European vehicles in the past (of car dealers and family/friends) and tuning several forced induced Japanese cars (including my beloved 01' S15) - I can tell you one thing; when you drive the E60 M5, it is a thrill I will never forget.

The thing is an absolute beast and the V10 sound from the 5.0L S85B50 will forever echo in my ears and heart - no wonder it won International Engine of the Year award twice-three times consecutively? It's a bloody masterpiece I tell you!
With that simple "M" button pressed, lumbar support clamping onto you, traction control off, sport suspension set, fastest shift settings...its literally a neck-breaking experience. The thrill comes when right through to third (possibly higher), without proper throttle-control; the wheels just spin, spin, spin - I can't emphasize how fun this car was to drive.

I know it sounds far fetched that I could be just making this thread to on some ideas, but my family and I have really considered it in the past. It was an option back before we bought the 530i and now I've just fallen in love with the M5.

Current Lineup...
At the moment, the old man has the mid-build 08' 530i with both Professional and Sports Packages and of course, new iDrive system with improved controller layout (It makes such a difference!).

A few minor aesthetic mods are done just like on my own 320i, but nothing major apart from a wheel change to 19" Style 172 found on the 550i and various option-selected E60 5ers.

Here is one old image taken with my phone before it had the wheel change, parked in building near State Library:


The dilemma...
Despite the fact the M5 is a superb vehicle, I'm a little bit iffy about the age and mileage of most of the M5s that are available at this present moment. They run for about $119,000, right to $230,000 for the almost brand new ones.

I'm going to be honest straight out, anything over $150k would be pushing it. I'm happy we can even afford a $150,000 car, but anything more will create too much financial stress.

So my only TWO question are...
i) Should I be iffy about the mileage and rather old age of a car like an M5? Convince me why I shouldn't?
ii) Should I wait a little longer for the new F10 M5 to come out so that the prices of the current E60 M5 are pushed down?

For those of you who are interested in buying a new car within the year that I've seen on this forum, I would really, really appreciate your input! What would you do in my situation?
If you are goingto buy a car like this I would only buy it from a BMW Dealer so the car comes with a 2 year approved BMW factory warranty. You might save 10k buying it privatley but you may find that you have to spend 5k in brakes and shock mounts and little bits and pieces to bring it up to scratch. Plus you have the drive line protected for 2 years atleast. I used you work for BMW Australia ( BMW SYDNEY) and you really do get vaule for buying undwer the approved used car plan. All the cars go through a 100 point check where they check all the consumable parts which arent covered by the warranty and if they are 50 % worn or worse they are supposed to replace them with new parts. The idea being that you have no costs for your first year or two of owning the car.
Awsome car I drove Hired an M6 in the UK a couple of years ago when they had just come out and the v10 engine it a work of art. Infact driving the pants of the M6 was one of the best cars I have ever had the pleasure of driving. You would get out of the car with the biggest grin a bit like that old toyota advert
I would buy it though with a view of selling it with in 2-3 years as the new model will be due around then.
 

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Hmm ... Now is this car for yourself or for the old man?

Do you need a big car like a 5er?

Have you looked at the following cars?

Audi RS4
BMW e90 M3 Sedan
C63 AMG

It looks like you've somewhat nearly made your mind up. I personally if i was spending $150k, I'd have a look at the above cars.

BUT, if your seriously considering the M5, I'd have a look in Melbourne or even Brisbane for any second hand ones, prices over there are a bit cheaper i find.
 

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Discussion Starter · #5 ·
A COUPLE!!?!?!?! My Gawd! But yes, the 2005 M5 prices are very good at the moment - last time I checked a Burgundy Red 2005 M5 going for $119,000.

How much we looking at? Say, for instance...brake and rotor change? =S
 

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Discussion Starter · #6 ·
If you are goingto buy a car like this I would only buy it from a BMW Dealer so the car comes with a 2 year approved BMW factory warranty. You might save 10k buying it privatley but you may find that you have to spend 5k in brakes and shock mounts and little bits and pieces to bring it up to scratch. Plus you have the drive line protected for 2 years atleast. I used you work for BMW Australia ( BMW SYDNEY) and you really do get vaule for buying undwer the approved used car plan. All the cars go through a 100 point check where they check all the consumable parts which arent covered by the warranty and if they are 50 % worn or worse they are supposed to replace them with new parts. The idea being that you have no costs for your first year or two of owning the car.
Awsome car I drove Hired an M6 in the UK a couple of years ago when they had just come out and the v10 engine it a work of art. Infact driving the pants of the M6 was one of the best cars I have ever had the pleasure of driving. You would get out of the car with the biggest grin a bit like that old toyota advert
I would buy it though with a view of selling it with in 2-3 years as the new model will be due around then.
Haven't driven an M6, but would be it much different considering its the same 5.0L S85B50 V10 used in both cars.

I doubt I'd be able to afford the new F10 M5 - it would probably be $300,000+ considering the fact it will be a monster that will most definitely out-do the new E63 AMG and RS6.

Hmm ... Now is this car for yourself or for the old man?

Do you need a big car like a 5er?

Have you looked at the following cars?

Audi RS4
BMW e90 M3 Sedan
C63 AMG

It looks like you've somewhat nearly made your mind up. I personally if i was spending $150k, I'd have a look at the above cars.

BUT, if your seriously considering the M5, I'd have a look in Melbourne or even Brisbane for any second hand ones, prices over there are a bit cheaper i find.
HAHA Andrew, you've talked to me before over the phone. At my age? M5? Last time I checked, I don't live in a $4.5 million house with high roller parents to own a E60 M5 myself. I wish though... :craig:

It is for the old man - aged 59 this October. He has a passion for fast cars, but never had a chance to actually own one and drive it as it should a high performance vehicle should be driven, if you know what I mean?

I'm actually going to book in for a test drive with the C63 AMG within the month at Parramatta MB. See how that goes, but driving a friends E92, the C63 AMG is just a louder version of it with just a a lot more torque and bigger engine. The M5 is a V10 masterpiece... I don't know, see how things go. The low kms and young age of the C63AMG is attractive though; considering the M5 I'd buy would be several years old and at least 35,000kms+ on it.

If I do buy an M5, it will already be high mileage, I don't want to add another 700-1000kms on the clock from driving it or pay more to get it truck'd to Sydney.
 

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I'm with AussieM3... getting an approved one off the dealer with extended warranty and servicing can help ... but you still have to pay for consumables iirc.

About 3 months ago there was a Silverstone M5 at BMW Melbourne... 2 years old but only 5 thousand kms. it was listed for around $145K and was gone the morning after it was put on the net. first guy who saw it bought it ... sucks to b second :( IF u see a deal like that for an M5... just be ready to take it quick!

If u want a sports saloon n it is within your budget the M5 is a no brainer... proabably last V10 and 7 speed SMG3. The sound... :drool:
 

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Like redux said, buy through a dealer as the warranty is the best.

Also get a relationship going with the local dealer so if a car that you want comes in they will call you first before they advertise it.

It works, and I hope you are happy with the car or should I say your dad is happy with the car.

BobZ
 

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not sure why the used values of those E60 M5s have tanked so hard

do some research, there must be a reason they're so cheap

i cant get over how cheap M6s are either, mind baffling
because they are a pain to drive every day compared to a E55 or E63 or CSL63 great to drive at 8/10 but very average at 4/10 compared to what else is around for the money.

nothing out of the ordinary in terms of quality issues except for oil consumption.

BobZ
 

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Discussion Starter · #12 ·
not sure why the used values of those E60 M5s have tanked so hard

do some research, there must be a reason they're so cheap

i cant get over how cheap M6s are either, mind baffling
Not sure, interested myself. It's gone down so much its really, really tempting to buy one. Only problem is, should I be iffy about the high mileage and old age? Or should I be positioned to see it as this: ITS A M5!

because they are a pain to drive every day compared to a E55 or E63 or CSL63 great to drive at 8/10 but very average at 4/10 compared to what else is around for the money.

nothing out of the ordinary in terms of quality issues except for oil consumption.

BobZ
What are you referring to? M5 or M6? Or both?

I can see the M6 as being a pain to drive every day, especially considering its a two-door and not obviously as practical as a 4 door saloon, but other than the fuel consumption; the M5 is, after actually driving it, a very good daily driver.
 

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Discussion Starter · #15 ·
Hmmmm, maintenance and replacements parts would be killer expensive through BMW but;

i) Couldn't one maintain and service his own M5 at home? Pelican Parts: regular routine service parts aren't expensive at all just your typical BMW service parts $300USD at most.
ii) Brake rotors are fairly expensive at $2000USD (excl. shipping) to replace all four brake rotors - all other brake components aren't expensive.
iii) Steering and suspension components are expensive, but we'd just have to hope for the best that they don't break!
iii) Insurance - a blistering $4130 quoted over phone from AAMI. O-M-G...

Quite a lot unfortunately...that is at least $8,000 a year running costs.
 

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Haven't driven an M6, but would be it much different considering its the same 5.0L S85B50 V10 used in both cars.

I doubt I'd be able to afford the new F10 M5 - it would probably be $300,000+ considering the fact it will be a monster that will most definitely out-do the new E63 AMG and RS6.



HAHA Andrew, you've talked to me before over the phone. At my age? M5? Last time I checked, I don't live in a $4.5 million house with high roller parents to own a E60 M5 myself. I wish though... :craig:

It is for the old man - aged 59 this October. He has a passion for fast cars, but never had a chance to actually own one and drive it as it should a high performance vehicle should be driven, if you know what I mean?

I'm actually going to book in for a test drive with the C63 AMG within the month at Parramatta MB. See how that goes, but driving a friends E92, the C63 AMG is just a louder version of it with just a a lot more torque and bigger engine. The M5 is a V10 masterpiece... I don't know, see how things go. The low kms and young age of the C63AMG is attractive though; considering the M5 I'd buy would be several years old and at least 35,000kms+ on it.

If I do buy an M5, it will already be high mileage, I don't want to add another 700-1000kms on the clock from driving it or pay more to get it truck'd to Sydney.
LOL... fair enough haha ...

I wouldn't call 35,000kms high, that's rather low/average, anything more than 70,000km when purchasing a second hand car could be classified as high but not 35k.

M5 is a nice car, like mentioned above it isn't the cheapest car to maintain and run. If that's not an issue then go for it. But obviously anyone can afford to buy a car, but can you afford to keep maintaining it?
 

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Discussion Starter · #17 ·
Maintaining is whats worrying me now, and insurance. That was one thing that was mentioned when I asked one a family friend 'Kevin' at Canterbury BMW: 'Why do people sell off the M5 so early?'

He replied...'The couldn't afford it in the end'.

I'm starting to think that even if I'm the 2nd owner, I won't be able to afford it too.
 

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Obviously buying a car like an M5 you have to be prepared for the maintenance costs. As others said, get it from a dealer with the warranty.

I am however a bit baffled that you consider 35000km to be a high mileage car. The car imo is barely run in. And considering you seem very weary about putting kms on the thing - is it actually going to be driven?? Personally I would revel in a 700km roadtrip if I had just purchased a new M5.

I also question what you seem to call 'old'. I think a 2-3 year old car would still be virtually brand new unless it was thrashed every single day - which is probably unlikely given the demographic that the M5 is pitched at.

The other advantage of a second hand car is that it is likely that a lot of problems have probably been fixed by the previous owner (fingers crossed). As Stephen said, cars can have problems even from new.

I would say that depreciation has hit the M5 just like any other high performance luxury car. Second-hand buyers looking to step up and who can barely afford the 120k+ asking price would most likely be scared by the associated running costs. If they can afford, then they would be looking at new or almost new cars. I also guess the fact that it is such a technical tour-de-force would also play in the mind of buyers, wondering what could go wrong down the track.
 

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What are you referring to? M5 or M6? Or both?

I can see the M6 as being a pain to drive every day, especially considering its a two-door and not obviously as practical as a 4 door saloon, but other than the fuel consumption; the M5 is, after actually driving it, a very good daily driver.
The 2 door thing dosent worry me its the driveline, it sounds like a tractor at idle, the auto SMG settings can be jerky untill you learn how to modulate the accelerator pedal on every shift, the diff clunks on and off power just like the M3, but it is a great car, if you do buy 1 make sure it has had the vanos oil line replaced under the good will in Aus.

BobZ
 

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Maintaining is whats worrying me now, and insurance. That was one thing that was mentioned when I asked one a family friend 'Kevin' at Canterbury BMW: 'Why do people sell off the M5 so early?'

He replied...'The couldn't afford it in the end'.

I'm starting to think that even if I'm the 2nd owner, I won't be able to afford it too.
It is still a $250K car to maintain no matter that you got it for $120K the price of maintenece dosent go down with age.

As to doing the maintenece yourself, cool, but who do you think will touch your car when your trying to sell it?

BobZ
 
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