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tommy vercetti
3,284 posts
32 months
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thinfourth2
23,543 posts
73 months
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£15K is caterham 7 money
and a 7 will be way cheaper to run then an M5
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sparks_E39
6,575 posts
82 months
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Spend £7k on an E39 M5, get rid of the E38.
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GarryA
2,476 posts
33 months
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Are you mad! You could get 46,875 tins of beans from Aldi for that.
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Schermerhorn
1,184 posts
58 months
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Hang on till the end of the year. There will be some more bargains to be had.
You can also negotiate a good deal at BMW dealers, gets an AUC warranty and pay a deposit towards one and installments. Why use ALL your savings, sell other cars to buy a car that could go kaput in terms of expenses?
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TotalZ4
72 posts
16 months
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My advice after owning them all is that the E28 is the best of the lot.
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vinnie83
2,142 posts
62 months
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Look at how many E60 M5's on the market have had replacement gearboxes.
I wouldn't touch one without a warranty - my cousin's has had a lot of warranty work on his, and his is a low mileage dealer supplied car (not that it's always an indication of a good car).
I don't know the cost of a replacement gearbox, and if/how easy they are to fix, but they are VERY complex machines. I would get the E39, or if you want (as close as you won't notice) M5 performance for less, how about an E55 AMG?
None of the cars in question are cheap to run, but the E60 M5 can be in a different league!
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gazchap
Original Poster
850 posts
52 months
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The E39 does certainly look like a better bargain - near enough 400bhp for half the cost of an E60.
The thing that would concern me about the E39 is the older age of the car, but if the E60 is famed for needing expensive replacement gearboxes etc. then that's probably a good reason to stick with the E39 - are there any common failure points on the E39 to watch out for?
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R12HCO
732 posts
28 months
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GarryA said: Are you mad! You could get 46,875 tins of beans from Aldi for that. We should have a new slogan; 'Pistonheads; where counting beans matters!'
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zip929
555 posts
46 months
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I have had both. The E39 cost me a lot while i had it, but a super car to drive. The E61 was brilliant and came with BMW warranty (which I needed a couple of times). General maintenance on both of these cars is expensive. Discs and padds are expensive and tyres are not cheap. The E61 was the best car I have ever owned, but the E39 made me want to go out for a drive just for the sake of it. I miss both cars! 
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TwigtheWonderkid
6,043 posts
19 months
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I know this is boring advice, but never borrow money to buy a depreciating asset (unless it can make you money, like a suit for an interview or a taxi for a minicab driver.)
Stick to that principle, and it won't be long before you're buying nice cars for cash outright.
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eliot
5,321 posts
123 months
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Or a VXR8 - simple chevy power, £150 for a service.
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Adz The Rat
6,011 posts
78 months
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vescaegg said: Not trying to put a downer on your plans but if you need to spend all your savings, sell some cars and get finance on the balance you shouldn't be buying an E60 M5! Who cares?? Live for the moment, if you can afford one then just buy it. If I could just scrape my way into a F40 then I would do it, and worry about the rest of it later.
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GaryST220
869 posts
53 months
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eliot said: Or a VXR8 - simple chevy power, £150 for a service. Complete with a man’s gearbox too.
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FreeLitres
2,965 posts
46 months
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GarryA said: Are you mad! You could get 46,875 tins of beans from Aldi for that. Don't be ridiculous!  We only shop in Waitrose, don-cha-know. 
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TheLordJohn
1,839 posts
15 months
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Adz The Rat said: If I could just scrape my way into a F40 then I would do it, and worry about the rest of it later. Yes, LOVE it!
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gazchap
Original Poster
850 posts
52 months
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TwigtheWonderkid said: I know this is boring advice, but never borrow money to buy a depreciating asset (unless it can make you money, like a suit for an interview or a taxi for a minicab driver.)
Stick to that principle, and it won't be long before you're buying nice cars for cash outright. It's a good principle, but unfortunately in this modern world there's a vanishingly small number of items that matches. Not even houses, as I've found to my cost.
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Contigo
1,802 posts
78 months
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rumple said: No, buy one thats been clocked/stolen recovered/cat d, with no service history whatsoever, the thrill of driving that with the posibility of something thats gonna take a remorgage to fix must truly be exiting.........hows it feel, heart pounding, left arm numb. Insert obligatory No Sure if Serious gif in here. I would condone buying one that has a Mondial warranty and no other from any private or dealer. It's as simple as that really.
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Contigo
1,802 posts
78 months
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zip929 said: I have had both. The E39 cost me a lot while i had it, but a super car to drive. The E61 was brilliant and came with BMW warranty (which I needed a couple of times). General maintenance on both of these cars is expensive. Discs and padds are expensive and tyres are not cheap. The E61 was the best car I have ever owned, but the E39 made me want to go out for a drive just for the sake of it. I miss both cars! Very true, shame you had to get rid of them!
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bqf
940 posts
40 months
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