F10 M5 Review after 2 years
Discussion
The situation as regards finance is null in my opinion. Cheap finance, such as that offered by Admiral (a representative APR 5.9% fixed on HP, PCP and personal loans), is readily available and easily comparable to that available at used cars dealerships.
So, taking the above into account, it appears there are two types of people:
1. People who will ONLY buy and sell via a dealer, and
2. People who will buy and sell via a dealer, AND will consider buying and selling privately.
(There will be a type 3. who will ONLY buy and sell via a privately, but for simplicity let’s discount them for now).
Type 1 wants convenience, and is willing to pay for it.
Cars on dealership forecourts appear to typically be priced 15%+ higher than private listings, and car dealerships also appear want to take a 20%+ chunk out of Part-Exchange cars.
Type 1 doesn’t have to arrange insurance to test drive vehicles, and doesn’t have to suffer the awkwardness of haggling with a member of the general public for his/her pride and joy. This process start-to-finish is usually a lot quicker.
Type 2 has a greater choice of vehicles (trade + private) and, subject to finance being in place, is likely to be able to afford to buy the same car for cheaper, or buy newer cars for a similar budget (ie a 16 plate privately-sold car may be priced similarly to a 15 plate car on a dealership forecourt). Depreciation is therefore significantly lower.
Type 2, if not covered by their own insurance, may have to take out One day car insurance to test drive vehicles (this insurance is readily available, and appears relatively cheap. See: https://www.confused.com/car-insurance/one-day ). The car may not be presented (cleaned) as well as those at a dealership.
I concede that buying from a trader offers additional protection, but would point out that ‘sold as seen’ certainly does not allow a private seller to misrepresent the car.
Should, for example, you ask if the car has ever been involved in an accident or had an engine change (questions always best asked and answered in writing) etc etc, if the seller demonstrably lies you would have recourse through the Courts. The Small Claims track of the County Court is very easy to use, and offers a relatively simple way of taking legal action for up to £10,000 against a firm or individual.
If you then have additional protection in the form of a comprehensive manufacturer’s warranty, I believe you’re pretty much fully covered (unless somebody can prove otherwise?).
I think people often fall for the sales spiel of dealers that buying and selling privately is a huge hassle, with people trying to rob you at every point. That’s just not true, and the experience is more of a level playing field: when you buy from a trader they’re a professional negotiator/haggler attempting to make as much money out of the deal. When you deal with a private seller they’re probably just as unfamiliar to negotiation as you are.
When my budget couldn’t stretch to a new vehicle I always aimed to buy one-owner cars with full service history and manufacturers warranty remaining. I’ve not once had a bad experience, quite the contrary.
My personal experience is that when buying and selling privately there are often fantastic deals to be had.
Huge apologies if I’ve hijacked the thread.
So, taking the above into account, it appears there are two types of people:
1. People who will ONLY buy and sell via a dealer, and
2. People who will buy and sell via a dealer, AND will consider buying and selling privately.
(There will be a type 3. who will ONLY buy and sell via a privately, but for simplicity let’s discount them for now).
Type 1 wants convenience, and is willing to pay for it.
Cars on dealership forecourts appear to typically be priced 15%+ higher than private listings, and car dealerships also appear want to take a 20%+ chunk out of Part-Exchange cars.
Type 1 doesn’t have to arrange insurance to test drive vehicles, and doesn’t have to suffer the awkwardness of haggling with a member of the general public for his/her pride and joy. This process start-to-finish is usually a lot quicker.
Type 2 has a greater choice of vehicles (trade + private) and, subject to finance being in place, is likely to be able to afford to buy the same car for cheaper, or buy newer cars for a similar budget (ie a 16 plate privately-sold car may be priced similarly to a 15 plate car on a dealership forecourt). Depreciation is therefore significantly lower.
Type 2, if not covered by their own insurance, may have to take out One day car insurance to test drive vehicles (this insurance is readily available, and appears relatively cheap. See: https://www.confused.com/car-insurance/one-day ). The car may not be presented (cleaned) as well as those at a dealership.
I concede that buying from a trader offers additional protection, but would point out that ‘sold as seen’ certainly does not allow a private seller to misrepresent the car.
Should, for example, you ask if the car has ever been involved in an accident or had an engine change (questions always best asked and answered in writing) etc etc, if the seller demonstrably lies you would have recourse through the Courts. The Small Claims track of the County Court is very easy to use, and offers a relatively simple way of taking legal action for up to £10,000 against a firm or individual.
If you then have additional protection in the form of a comprehensive manufacturer’s warranty, I believe you’re pretty much fully covered (unless somebody can prove otherwise?).
I think people often fall for the sales spiel of dealers that buying and selling privately is a huge hassle, with people trying to rob you at every point. That’s just not true, and the experience is more of a level playing field: when you buy from a trader they’re a professional negotiator/haggler attempting to make as much money out of the deal. When you deal with a private seller they’re probably just as unfamiliar to negotiation as you are.
When my budget couldn’t stretch to a new vehicle I always aimed to buy one-owner cars with full service history and manufacturers warranty remaining. I’ve not once had a bad experience, quite the contrary.
My personal experience is that when buying and selling privately there are often fantastic deals to be had.
Huge apologies if I’ve hijacked the thread.
Andy M said:
The situation as regards finance is null in my opinion. Cheap finance, such as that offered by Admiral (a representative APR 5.9% fixed on HP, PCP and personal loans), is readily available and easily comparable to that available at used cars dealerships.
So, taking the above into account, it appears there are two types of people:
1. People who will ONLY buy and sell via a dealer, and
2. People who will buy and sell via a dealer, AND will consider buying and selling privately.
(There will be a type 3. who will ONLY buy and sell via a privately, but for simplicity let’s discount them for now).
Type 1 wants convenience, and is willing to pay for it.
Cars on dealership forecourts appear to typically be priced 15%+ higher than private listings, and car dealerships also appear want to take a 20%+ chunk out of Part-Exchange cars.
Type 1 doesn’t have to arrange insurance to test drive vehicles, and doesn’t have to suffer the awkwardness of haggling with a member of the general public for his/her pride and joy. This process start-to-finish is usually a lot quicker.
Type 2 has a greater choice of vehicles (trade + private) and, subject to finance being in place, is likely to be able to afford to buy the same car for cheaper, or buy newer cars for a similar budget (ie a 16 plate privately-sold car may be priced similarly to a 15 plate car on a dealership forecourt). Depreciation is therefore significantly lower.
Type 2, if not covered by their own insurance, may have to take out One day car insurance to test drive vehicles (this insurance is readily available, and appears relatively cheap. See: https://www.confused.com/car-insurance/one-day ). The car may not be presented (cleaned) as well as those at a dealership.
I concede that buying from a trader offers additional protection, but would point out that ‘sold as seen’ certainly does not allow a private seller to misrepresent the car.
Should, for example, you ask if the car has ever been involved in an accident or had an engine change (questions always best asked and answered in writing) etc etc, if the seller demonstrably lies you would have recourse through the Courts. The Small Claims track of the County Court is very easy to use, and offers a relatively simple way of taking legal action for up to £10,000 against a firm or individual.
If you then have additional protection in the form of a comprehensive manufacturer’s warranty, I believe you’re pretty much fully covered (unless somebody can prove otherwise?).
I think people often fall for the sales spiel of dealers that buying and selling privately is a huge hassle, with people trying to rob you at every point. That’s just not true, and the experience is more of a level playing field: when you buy from a trader they’re a professional negotiator/haggler attempting to make as much money out of the deal. When you deal with a private seller they’re probably just as unfamiliar to negotiation as you are.
When my budget couldn’t stretch to a new vehicle I always aimed to buy one-owner cars with full service history and manufacturers warranty remaining. I’ve not once had a bad experience, quite the contrary.
My personal experience is that when buying and selling privately there are often fantastic deals to be had.
Huge apologies if I’ve hijacked the thread.
I'm a firm type 3So, taking the above into account, it appears there are two types of people:
1. People who will ONLY buy and sell via a dealer, and
2. People who will buy and sell via a dealer, AND will consider buying and selling privately.
(There will be a type 3. who will ONLY buy and sell via a privately, but for simplicity let’s discount them for now).
Type 1 wants convenience, and is willing to pay for it.
Cars on dealership forecourts appear to typically be priced 15%+ higher than private listings, and car dealerships also appear want to take a 20%+ chunk out of Part-Exchange cars.
Type 1 doesn’t have to arrange insurance to test drive vehicles, and doesn’t have to suffer the awkwardness of haggling with a member of the general public for his/her pride and joy. This process start-to-finish is usually a lot quicker.
Type 2 has a greater choice of vehicles (trade + private) and, subject to finance being in place, is likely to be able to afford to buy the same car for cheaper, or buy newer cars for a similar budget (ie a 16 plate privately-sold car may be priced similarly to a 15 plate car on a dealership forecourt). Depreciation is therefore significantly lower.
Type 2, if not covered by their own insurance, may have to take out One day car insurance to test drive vehicles (this insurance is readily available, and appears relatively cheap. See: https://www.confused.com/car-insurance/one-day ). The car may not be presented (cleaned) as well as those at a dealership.
I concede that buying from a trader offers additional protection, but would point out that ‘sold as seen’ certainly does not allow a private seller to misrepresent the car.
Should, for example, you ask if the car has ever been involved in an accident or had an engine change (questions always best asked and answered in writing) etc etc, if the seller demonstrably lies you would have recourse through the Courts. The Small Claims track of the County Court is very easy to use, and offers a relatively simple way of taking legal action for up to £10,000 against a firm or individual.
If you then have additional protection in the form of a comprehensive manufacturer’s warranty, I believe you’re pretty much fully covered (unless somebody can prove otherwise?).
I think people often fall for the sales spiel of dealers that buying and selling privately is a huge hassle, with people trying to rob you at every point. That’s just not true, and the experience is more of a level playing field: when you buy from a trader they’re a professional negotiator/haggler attempting to make as much money out of the deal. When you deal with a private seller they’re probably just as unfamiliar to negotiation as you are.
When my budget couldn’t stretch to a new vehicle I always aimed to buy one-owner cars with full service history and manufacturers warranty remaining. I’ve not once had a bad experience, quite the contrary.
My personal experience is that when buying and selling privately there are often fantastic deals to be had.
Huge apologies if I’ve hijacked the thread.
I totally get people wanting the security of a px and a warranty etc, but with regard to warranty then only an AUC is worth paying premium for. All these independent trader warranty are s
t and usually have a claim limit of £1000.00I buy privately largely because I'm very confident with cars, have a car related business and a lot of trade contacts. I wouldn't dream of paying £30k for a car I can get for £26k privately.
The cars for sale privately are not different cars to the ones that get traded in and retailed - there's no special halo. They are just valeted, tarted up and retailed with a warranty.
It carries risks for sure but if you research well, ensure the provenance is all good and the history is solid then its all go for me. The F10 M5 is largely bulletproof with very few horror stories.
As it happens mine had a transferrable BMW warranty that I can extend if I like but thats a bonus.
lord trumpton said:
I totally get people wanting the security of a px and a warranty etc, but with regard to warranty then only an AUC is worth paying premium for. All these independent trader warranty are st and usually have a claim limit of £1000.00
Agreed. t and usually have a claim limit of £1000.00Why people get so much comfort buying a like-for-like product from some guy with a dodgy haircut and ill-fitting suit (or a women with excessive perfume and a push-up bra)*, rather that from the person who has been driving the car for thousands of miles (and can therefore answer questions more thoroughly), I’ll never know...
- not representative of all car dealers. Some are a lot worse.
Andy M said:
Agreed.
Why people get so much comfort buying a like-for-like product from some guy with a dodgy haircut and ill-fitting suit (or a women with excessive perfume and a push-up bra)*, rather that from the person who has been driving the car for thousands of miles (and can therefore answer questions more thoroughly), I’ll never know...
But most people already have 1 car and are buying a car to replace it with. Why people get so much comfort buying a like-for-like product from some guy with a dodgy haircut and ill-fitting suit (or a women with excessive perfume and a push-up bra)*, rather that from the person who has been driving the car for thousands of miles (and can therefore answer questions more thoroughly), I’ll never know...
- not representative of all car dealers. Some are a lot worse.
So buying private you have the hassle of travelling round testing and finally finding the right one then buy it. Then you have to sell yours which could be WBAC or days/weeks/months of evenings weekends f
ked over due to trying to sell it. That’s a ball ache which does put people off fact.
Also as we all know many people have a shot car and clear the error codes /nurse it in for part x and Male our it’s a perfect car. Many people do that privatly too then you get f
ked. A new F10 M5 engine or drivetrain is how much?
ds666 said:
It really is the most complete car I've ever driven. This and something like an Elise are the two-car garage I'm aiming for next. I think the F10 will be a keeper.
There you go , sorry about the mess - oh and there is a properly quick 3rd car hiding in there too
Excellent. Something for me to aspire to.What colour is the M5? Silverstone?
Welshbeef said:
So buying private you have the hassle of travelling round testing and finally finding the right one then buy it.
Given the M5 is a relatively specialised car, what makes you any more confident that you will find the desired car at the first dealership you visit?I reckon you’re just a likely to have to travel around multiple dealerships to find the right example.
Andy M said:
Welshbeef said:
So buying private you have the hassle of travelling round testing and finally finding the right one then buy it.
Given the M5 is a relatively specialised car, what makes you any more confident that you will find the desired car at the first dealership you visit?I reckon you’re just a likely to have to travel around multiple dealerships to find the right example.
Welshbeef said:
Nothing and your spot on. But privately Your arranging times with families vs normal opening hours for a dealership.
A motivated seller (private or trade) should make time available.Speaking personally, if I was confident they were a serious buyer I’d make myself available at any time; 5am or 5pm, 10am or 10pm
)
Welshbeef said:
But most people already have 1 car and are buying a car to replace it with.
So buying private you have the hassle of travelling round testing and finally finding the right one then buy it. Then you have to sell yours which could be WBAC or days/weeks/months of evenings weekends fked over due to trying to sell it.
That’s a ball ache which does put people off fact.
Also as we all know many people have a shot car and clear the error codes /nurse it in for part x and Male our it’s a perfect car. Many people do that privatly too then you get fked.
A new F10 M5 engine or drivetrain is how much?
You don't half talk some mate..why does a ball ache put people off facts?So buying private you have the hassle of travelling round testing and finally finding the right one then buy it. Then you have to sell yours which could be WBAC or days/weeks/months of evenings weekends f
ked over due to trying to sell it. That’s a ball ache which does put people off fact.
Also as we all know many people have a shot car and clear the error codes /nurse it in for part x and Male our it’s a perfect car. Many people do that privatly too then you get f
ked. A new F10 M5 engine or drivetrain is how much?
Welshbeef said:
bmwmike said:
You don't half talk some mate..why does a ball ache put people off facts?
Well some posters on this very thread trying to sell them now or previously have had difficulties. Those are a small sample but facts none the lessI don't mind it too much as it's easy to identify/ignore the bellends.I've started out asking strong money for mine but it's easy to reduce the price.
Plus the used car market is starting the thaw now and things will get better.
I do understand people wanting less hassle though and are happy to take a low px offer and pay a premium for the car and an easy transition.
It's just how I am generally. If something is needing fixing at home, I'll always do/fix what I can before paying a builder or whatever as I begrudge paying for what I can myself.
Andy M said:
TheAngryDog said:
I'll be going to the main dealer for one for the warranty, but I'll be going with cash, though may finance and pay off if I can get a better deal.
Buy mine, it is covered by BMW's most comprehensive warranty 
and, according to hpivaluations.com, my car would be listed for over £5,000 more on the dealers forecourt.Mine went straight to a closed bca auction for BMW dealers apparently. Will end up on a forecourt somewhere soon and will be a great buy for someone, i didn’t get round to taking the competition exhaust off so whoever gets it will have a nice surprise!
Edited by Joscal on Saturday 17th March 13:37
Joscal said:
Mine went straight to a closed bca auction for BMW dealers apparently. Will end up on a forecourt somewhere soon and will be a great buy for someone, i didn’t get round to taking the competition exhaust off so whoever gets it will have a nice surprise!
Hopefully a car like your old one will be available in 18 months once I am in a position to buy. Edited by Joscal on Saturday 17th March 13:37
Joscal said:
Mine went straight to a closed bca auction for BMW dealers apparently. Will end up on a forecourt somewhere soon and will be a great buy for someone, i didn’t get round to taking the competition exhaust off so whoever gets it will have a nice surprise!
Here is a quandary for a potential new owner. Edited by Joscal on Saturday 17th March 13:37
Let’s say they buy it from the Main dealer and said main dealer had no idea if wasn’t a standard exhaust... nor does joe Bloggs. He insured it as a normal M5 but has an accident then somehow the insurance company pick up it’s not a standard exhaust.
In that situation he is uninsured who’s to blame? What recourse etc?
Welshbeef said:
Here is a quandary for a potential new owner.
Let’s say they buy it from the Main dealer and said main dealer had no idea if wasn’t a standard exhaust... nor does joe Bloggs. He insured it as a normal M5 but has an accident then somehow the insurance company pick up it’s not a standard exhaust.
In that situation he is uninsured who’s to blame? What recourse etc?
Caveat emptorLet’s say they buy it from the Main dealer and said main dealer had no idea if wasn’t a standard exhaust... nor does joe Bloggs. He insured it as a normal M5 but has an accident then somehow the insurance company pick up it’s not a standard exhaust.
In that situation he is uninsured who’s to blame? What recourse etc?
Simple.
Out of interest regarding above...
How many people do you guys know that haven’t been paid out on insurance for not giving full correct details regarding mods/points etc???
I was told by a person well in the know that it is very very rare that insurance Companies won’t make a pay out...
And to back that up a guy who works for me (bit of a boy racer)
Modded his Megane 250, semi-slick tyres and points... didn’t tell insurance of any of the above details.
Written his car off and all they did was calculate what the premium would have been if he declared it then took that off the payout ..
I don’t condone the above obviously. But does seem to be a lot of confusion on insurance ...
If you don’t realise your car is modified (would have to be a pretty discreet mod I.e. map?) so can’t possibly declare it then I can’t see how insurance would not pay out never mind note that it’s modified if the owner doesn’t
How many people do you guys know that haven’t been paid out on insurance for not giving full correct details regarding mods/points etc???
I was told by a person well in the know that it is very very rare that insurance Companies won’t make a pay out...
And to back that up a guy who works for me (bit of a boy racer)
Modded his Megane 250, semi-slick tyres and points... didn’t tell insurance of any of the above details.
Written his car off and all they did was calculate what the premium would have been if he declared it then took that off the payout ..
I don’t condone the above obviously. But does seem to be a lot of confusion on insurance ...
If you don’t realise your car is modified (would have to be a pretty discreet mod I.e. map?) so can’t possibly declare it then I can’t see how insurance would not pay out never mind note that it’s modified if the owner doesn’t
Gassing Station | M Power | Top of Page | What's New | My Stuff