E63 BMW M6 running in service/long term values
Discussion
Evening guys,
In strong negotiation over the potential purchase of a 2006 E63 M6.
The car ticks all the right boxes. 35,000 miles, 2 previous owners and FBMWSH.
My one concern is that this particular car didn't have its running in service until 3k miles. Should this be a point of concern?
I've owned an E46 M3 previously, and I've always read that the running in services on M cars are to take place within the first 1,000 miles. I know this was particularly important on the E46's, as these cars required an oil change at around 1200 miles which preserved their health long term.
On another note. I've been a firm believer for quite sometime now that both the E60 M5 and E63 M6 models may even start to appreciate slightly. Certainly I don't think values will drop much below what they are now.
I think this maybe the case as the new V8 models just aren't receiving the acclaim that the V10 cars did at launch. Not only are they soulless to drive, but they miss that incredible wall of noise that the V10's so richly deliver. Coupled with the fact that there are only circa of 60 E63 M6's currently for sale in the UK (across PH and autotrader), only adds to their exclusivity, and the desire of owners to keep hold of them.
Values on both cars already seem to have bottomed out - an M6 could have been snapped up for 14.5k a few months back - you can't find one for less than 17k now, and cars in this price bracket are 70,000 + milers!!
Be interested to know your thoughts on both points.
Cheers,
Oli
In strong negotiation over the potential purchase of a 2006 E63 M6.
The car ticks all the right boxes. 35,000 miles, 2 previous owners and FBMWSH.
My one concern is that this particular car didn't have its running in service until 3k miles. Should this be a point of concern?
I've owned an E46 M3 previously, and I've always read that the running in services on M cars are to take place within the first 1,000 miles. I know this was particularly important on the E46's, as these cars required an oil change at around 1200 miles which preserved their health long term.
On another note. I've been a firm believer for quite sometime now that both the E60 M5 and E63 M6 models may even start to appreciate slightly. Certainly I don't think values will drop much below what they are now.
I think this maybe the case as the new V8 models just aren't receiving the acclaim that the V10 cars did at launch. Not only are they soulless to drive, but they miss that incredible wall of noise that the V10's so richly deliver. Coupled with the fact that there are only circa of 60 E63 M6's currently for sale in the UK (across PH and autotrader), only adds to their exclusivity, and the desire of owners to keep hold of them.
Values on both cars already seem to have bottomed out - an M6 could have been snapped up for 14.5k a few months back - you can't find one for less than 17k now, and cars in this price bracket are 70,000 + milers!!
Be interested to know your thoughts on both points.
Cheers,
Oli
As to the 1200 mile running in service, I would personally want it for peace of mind and for resale protection. Also, is the car an AUC or with a Mondial warranty? Check if there would be any warranty issues with the missing 1200 mile service.
As to values, I am afraid you will be disappointed: I certainly expect mine to continue the fall from the 30.000 euro I paid a few months ago (Belgium, so different market, I know), as many are scared off by the running costs, especially the immense thirst, and the Internet tales of very expensive repairs (which in turn has made it a self-fulfilling prophecy to only run these V10 monsters with a warranty or very deep pockets).
In reality, they are mechanically very solid but with some weak points (clutch release bearings, and in turn clutches and flywheels) but that doesn't get as much attention as the horror stories.
See also the excellent "sticky" buyers guide.
As to values, I am afraid you will be disappointed: I certainly expect mine to continue the fall from the 30.000 euro I paid a few months ago (Belgium, so different market, I know), as many are scared off by the running costs, especially the immense thirst, and the Internet tales of very expensive repairs (which in turn has made it a self-fulfilling prophecy to only run these V10 monsters with a warranty or very deep pockets).
In reality, they are mechanically very solid but with some weak points (clutch release bearings, and in turn clutches and flywheels) but that doesn't get as much attention as the horror stories.
See also the excellent "sticky" buyers guide.
Yes 3,000 miles does seem a late running in service.
The car has full service history, partially by franchise, so this won't be covered by an AUC warranty. I've done some digging previously and found warranty Direct will provide me with a tailored package for the M6. Their package covers the all important 'wear and tear' and 100% parts and labour - especially useful with the horror clutch and flywheel stories you constantly hear. They also cover work needed after servicing, and you can specify this to be performed at a main BMW dealer of your choice - not bad value at £75 per month, and slightly cheaper than the BMW insured Mondial warranty.
The car has full service history, partially by franchise, so this won't be covered by an AUC warranty. I've done some digging previously and found warranty Direct will provide me with a tailored package for the M6. Their package covers the all important 'wear and tear' and 100% parts and labour - especially useful with the horror clutch and flywheel stories you constantly hear. They also cover work needed after servicing, and you can specify this to be performed at a main BMW dealer of your choice - not bad value at £75 per month, and slightly cheaper than the BMW insured Mondial warranty.
I agree re values, as I posted a few weeks back. I started a little spreadsheet foe e60/61/63 values when I bought my car last October, and comparable cars (age/mileage) are currently going for around £1k more than last year. Well the advertised prices are, no idea how that is translating to actual purchase/sale prices. The M5 touring and M6 cab are faring best, and there is a notable difference between cars sub 60k miles and with warranty.
I personally wouldn't bother with a non-BMW warranty. A lesson I learnt from previous experience. Between the get-outs of not-covered, known defect, pre-existing condition and wear & tear there's pretty much nothing you can claim for. Add in the fact that you'll need the warranty company to come and inspect (and then sign-off) any proposed work - whilst your car spends days in bits in the dealers garage, and it's really not good.
I personally wouldn't bother with a non-BMW warranty. A lesson I learnt from previous experience. Between the get-outs of not-covered, known defect, pre-existing condition and wear & tear there's pretty much nothing you can claim for. Add in the fact that you'll need the warranty company to come and inspect (and then sign-off) any proposed work - whilst your car spends days in bits in the dealers garage, and it's really not good.
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