E39 M5. Sell now, or wait
Discussion
I have a 2003 M5 that I've thought about selling a couple of times but always decided to keep in the end, found it difficult to think of what to replace it with.
Thing is, I hardly use it now so I think it's time to finally let it go. But what's the general thought with these at present, best to keep it and sell it next May/June or just go for it now?
As I see it, there are two reasons to maybe keep it a while. I would've thought it will be easier to sell early summer as opposed to now, and of course the other reason is that the prices do seem to be slowly creeping up. But against that, it's just going to be mainly sitting in the garage doing nothing, and if I sell next summer it will need MOT and an oil service, not that I expect either to cost much.
Would value any opinions others have on this.
Thing is, I hardly use it now so I think it's time to finally let it go. But what's the general thought with these at present, best to keep it and sell it next May/June or just go for it now?
As I see it, there are two reasons to maybe keep it a while. I would've thought it will be easier to sell early summer as opposed to now, and of course the other reason is that the prices do seem to be slowly creeping up. But against that, it's just going to be mainly sitting in the garage doing nothing, and if I sell next summer it will need MOT and an oil service, not that I expect either to cost much.
Would value any opinions others have on this.
Not the best time of year to be selling an M5 - summer over, Xmas on the horizon etc..
As you say, late spring/early summer seems to be a better time for moving these type of cars.
Your car will sell now if you really need to sell but it would in all likelihood be at a knockdown price.
In general prices have been quite buoyant for E39 M5s, but who knows what they're going to be like next year given the potential for turbulence in the British economy created by Brexit. It's crystal ball gazing.
I'm keeping mine. If you're looking for bigger returns you'll probably need to bide your time a bit, ride out a few peaks and troughs in the economy then cash-in in, say, 10-15 years. Even then it's a gamble. Maybe the E39 M5 will become like the (993) 911, the last of the air-cooled Porsches and see dramatic increases? The market for manual NA V8s with a more analogue driving experience may drive up prices.....or maybe that won't happen? Your guess is a good as mine.
I drive mine during the summer in the way it was designed for but only when the sun shines and the roads are dry. Scottish Highlands to N.Italy and back in June - what a trip! One day I'll sell but not anytime soon.
If you are going to put it away for the winter then I would do the oil change before tucking it up. Change the oil and filter then give it a short, hot, hard blast (oil temp up to 80c) to get the new oil into the lifters and VANOS, then let it hibernate until spring. That way you won't bathe the important parts of your engine (inc. 'O' rings and other seals) in an old slurry of acidic and filthy by-products of combustion for 6 months.
As you say, late spring/early summer seems to be a better time for moving these type of cars.
Your car will sell now if you really need to sell but it would in all likelihood be at a knockdown price.
In general prices have been quite buoyant for E39 M5s, but who knows what they're going to be like next year given the potential for turbulence in the British economy created by Brexit. It's crystal ball gazing.
I'm keeping mine. If you're looking for bigger returns you'll probably need to bide your time a bit, ride out a few peaks and troughs in the economy then cash-in in, say, 10-15 years. Even then it's a gamble. Maybe the E39 M5 will become like the (993) 911, the last of the air-cooled Porsches and see dramatic increases? The market for manual NA V8s with a more analogue driving experience may drive up prices.....or maybe that won't happen? Your guess is a good as mine.
I drive mine during the summer in the way it was designed for but only when the sun shines and the roads are dry. Scottish Highlands to N.Italy and back in June - what a trip! One day I'll sell but not anytime soon.
If you are going to put it away for the winter then I would do the oil change before tucking it up. Change the oil and filter then give it a short, hot, hard blast (oil temp up to 80c) to get the new oil into the lifters and VANOS, then let it hibernate until spring. That way you won't bathe the important parts of your engine (inc. 'O' rings and other seals) in an old slurry of acidic and filthy by-products of combustion for 6 months.
Was in a similar situation with my E46 M3, but have just taken a deposit against it. Think in reality if I waited until after winter I could have got a few hundred more for it, but these cars can serve rather large bills fairly easily which could be more than the hit you'd take to sell. Stick it up for what you want, if it doesn't sell, do it again in spring.
Jellyfishfields said:
It's Imola red with an all black interior, so relatively uncommon I suppose.
If you're not sure how they look in Imola, there's a pic in the "my garage" section of my profile.
Let me know the basics and a price if your considering selling ;-)If you're not sure how they look in Imola, there's a pic in the "my garage" section of my profile.
Email dumblonde_69@hotmail.com
If you have the space and can afford to keep it and it's a good condition and spec then personally I'd hold onto it.
Will it get to silly money? Who knows maybe yes maybe no - does that really matter? Will it lose value? Probably not from where it is.
He thing is - are the funds tied up in his car your toy money as such you'd then buy another classic/potential classic but fun car. If so then does it really matter?
Is it still fast today? Well M135is take it to town and top end diesels push it hard. Does any of that matter? Not one jot.
What condition is it in? How much to get it concours? What other cars are on your want list?
Will it get to silly money? Who knows maybe yes maybe no - does that really matter? Will it lose value? Probably not from where it is.
He thing is - are the funds tied up in his car your toy money as such you'd then buy another classic/potential classic but fun car. If so then does it really matter?
Is it still fast today? Well M135is take it to town and top end diesels push it hard. Does any of that matter? Not one jot.
What condition is it in? How much to get it concours? What other cars are on your want list?
I sold mine earlier this year . Be prepared for loads of time wasters . In terms of appreciating , I sold mine for £1k more than I paid for it 2 years ago . In those 2 years I spent about £2k on servicing and consumables and £2k doing the bodywork up . The problem with a £10k car as an investment is that it would have to appreciate massively to offset the inherent risk of keeping an expensive car in top condition . If it goes up 10 % p.a that may cover the running costs .
That said they are great cars so if they don't depreciate that's a bonus .
Keep it 👍🏼
That said they are great cars so if they don't depreciate that's a bonus .
Keep it 👍🏼
ds666 said:
I sold mine earlier this year . Be prepared for loads of time wasters . In terms of appreciating , I sold mine for £1k more than I paid for it 2 years ago . In those 2 years I spent about £2k on servicing and consumables and £2k doing the bodywork up . The problem with a £10k car as an investment is that it would have to appreciate massively to offset the inherent risk of keeping an expensive car in top condition . If it goes up 10 % p.a that may cover the running costs .
That said they are great cars so if they don't depreciate that's a bonus .
Keep it ????
£1k a year for all servicing and consumables that's not bad at all. That said they are great cars so if they don't depreciate that's a bonus .
Keep it ????
Was it your daily driver?
There is no right answer to this question as selling older M cars is always a challenge.
I sold my old e39 m5 nearly 2 years ago just after Christmas.
Mine was also a 2003 and was in excellent order.
Selling link for some inspiration:
http://forums.m3cutters.co.uk/showthread.php?t=118...
I sold my old e39 m5 nearly 2 years ago just after Christmas.
Mine was also a 2003 and was in excellent order.
Selling link for some inspiration:
http://forums.m3cutters.co.uk/showthread.php?t=118...
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