My M5 has cost me £1500 per month
My M5 has cost me £1500 per month
Author
Discussion

CarbonBlackM5

Original Poster:

3,077 posts

242 months

Monday 14th June 2010
quotequote all
OK, I have only had it a couple of months and since I got the car its had a inp II service, discs and pads all round, valet, clutch, rear diff seal and a lower arm and track rod. I knew it needed most of these when I brought it and at the moment I just need two rear tyres and some attention to a small rust spot to complete the list of must dos.

At the weekend we went to see friends in Coventry and it took the four of us and luggage in total comfort at 22mpg. Its just what I expected from the car and I cant get over how awesome it is. The power available in all gears is just staggering.

OK, it drinks fuel and oil like a fish but I knew this anyway and I have started cycling to work twice a week so I am saving money and getting fitter (it takes the same amount of time to do the 6miles by bike anyway).

So, in all Im over the moon with my 167K M5. Yes I have spent a fair but even with the purchase price and the work I have done to the car Im still happy that I got a great car compared to the others I viewed.

If anyone is thinking of an E39 M5 do it, they are amazing cars.



Edited by CarbonBlackM5 on Monday 14th June 16:51


Edited by CarbonBlackM5 on Monday 14th June 16:56

DennisCooper

1,340 posts

195 months

Monday 14th June 2010
quotequote all
Hi there,

£1500 a month, and you've had it a 'couple' months. So that means you've spent around £3000 on the car ?

I hope the purchase price was like below £6000!

Onto your commute - is that 3 miles each way? or 6 miles each way?!

I'm thinking that if it's 3 miles each way, your engine isn't going to have time to warm up to temperature before you switch it off again. Even at 6 miles, it might just be approaching optimal temperature before you need to switch off again.

That's obviously going to cost you extra in maintenance, seeing as your using it for very short journeys, without it getting to optimal temperature. This is exactly the type of journey that's completely unsuitable for a car like an M5. I'd suggest perhaps looking into getting a cheapo run about, banger/beater car for this journey and keep the M5 for weekend blasts where it can really come into it's own. Unless of course your pockets are deep enough to replace the parts that'll wear quicker with such short journeys - which doesn't seem to be the case as you've taken to cycling twice a week due to the increased costs!

Far be it from judging over the forum, I'm just extrapolating from what you've said!

Cheers, Dennis!

CarbonBlackM5

Original Poster:

3,077 posts

242 months

Monday 14th June 2010
quotequote all
Dennis

Do you ever have anything postive to say on this forum??

3 miles each way and I thrash the fk out of it from cold what do you think?

Actually its 6 miles each way and it gets plenty warm thanks.

Yes thats £3000 but as I said I know it needed the money spending on it and I paid £6300 for it thankyou very much.

I was merely pointing out how happy I am with the car and that I viewed cars for much more money which would have needed plenty spending on them too.

Piss on my fire why dont you

arfur daley

834 posts

190 months

Monday 14th June 2010
quotequote all
dennis drives a fire engine to work and has no idea

dazren

22,612 posts

285 months

Monday 14th June 2010
quotequote all
CBM5.

Great to see another E39 M5 owner recognise what a great car they have and is happy to spend the money it costs to keep it running in top form. As you've rightly identified, most of the expenditure was on common wear items you expected to have to fix.

I've had mine 5 years and last saturday on a 220 mile cross country Hoon it clicked over 100k miles. Next week the car is going into europe and we'll do 2.5k miles in 5 days including derestricted autobahns and 30 mountain passes. There is no other saloon car I would rather be taking. 9 years old and still that special.

Trellis

590 posts

263 months

Monday 14th June 2010
quotequote all
Good post Dazrensmile

I'm sure you'll enjoy that drive - the M5 at its best on the open road!

Given you're doing mountain passes - have you tweaked the brakes at all? I run mine as standard apart from upgraded fluid, and find it ok for regular driving but would be a little wary of overstretching them on steep downward twisties. I did Welsh passes a while back, it was OK, but they aren't as epic as some in Europe.........

dazren

22,612 posts

285 months

Monday 14th June 2010
quotequote all
Trellis. Back in Feb07, when the brake discs and pads were due for replacement, I took the decision to go for an upgrade. AP racing BBK on the front axle (including braided lines) and pagid pads/new BMW discs on the rear axle, rounded off with uprated 5.1 brakefluid. Advised and installed by Thorney Motorsport, details in my profile. Repeated on road brake abuse is no longer a problem. smile

If trying to improve the brakes for less money, improvements over standard setup can be achieved by getting uprated pads all round, braided lines on the front axle and uprated fluid. Do this when the current pads etc have worn out and it's quite a cheap upgrade.

mikey-r

408 posts

221 months

Monday 14th June 2010
quotequote all
They can indeed test your patience (and your wallet). This is the first car I've had for years and years that's cost me money other than normal servicing and consumerables (tyres/brakes etc). They are a complicated cars and that damn dash always seems eager to flash yet another warning light at you!

To bring it in line with the OP - I've spent the equivalent of £250 per month of ownership and that doesn't include any services, tax or insurance. I did, however, have a Vanos issue which required a rebuild of both units plus associated timing stuff which accounts for £1400. It's next 'scheduled' maintenance is rear pads and disks and an intermediate oil change (7k). That'll be another £500+ bill. I must admit, after that last bill for the Vanos etc, I did consider selling it and buying another newer, normal car, as I can't be done with large unexpected bills.

BUT, every time I get in the car I forgive it for being a money pit cloud9. I really don't think there's many people who fully appreciate just how good these cars are. I never tire of the surprised looks I get from people in their new £40k+ performance cars when my Y reg barge is keeping up, overtaking or generally making them look silly. Comfortable, roomy, great on motorways and pant-wettingly fast, what's not to like?

Actually, £250 per month... what's that - the monthly depreciation on a new basic Astra or Focus? MMmmm, I know where I'd rather lose/spend the money wink


ArmaghMan

2,719 posts

204 months

Monday 14th June 2010
quotequote all
mikey-r said:
They can indeed test your patience (and your wallet). This is the first car I've had for years and years that's cost me money other than normal servicing and consumerables (tyres/brakes etc). They are a complicated cars and that damn dash always seems eager to flash yet another warning light at you!

To bring it in line with the OP - I've spent the equivalent of £250 per month of ownership and that doesn't include any services, tax or insurance. I did, however, have a Vanos issue which required a rebuild of both units plus associated timing stuff which accounts for £1400. It's next 'scheduled' maintenance is rear pads and disks and an intermediate oil change (7k). That'll be another £500+ bill. I must admit, after that last bill for the Vanos etc, I did consider selling it and buying another newer, normal car, as I can't be done with large unexpected bills.

BUT, every time I get in the car I forgive it for being a money pit cloud9. I really don't think there's many people who fully appreciate just how good these cars are. I never tire of the surprised looks I get from people in their new £40k+ performance cars when my Y reg barge is keeping up, overtaking or generally making them look silly. Comfortable, roomy, great on motorways and pant-wettingly fast, what's not to like?

Actually, £250 per month... what's that - the monthly depreciation on a new basic Astra or Focus? MMmmm, I know where I'd rather lose/spend the money wink

To paraphrase Bill Clinton

"ITS THE DEPRECIATION STUPID"

Yes an E39 M5 costs a few quid to run but I work with guys losing 250-300 per month in depreciation on diesel golfs or 320d's.
For sure my 116k E39 M5 is'nt dropping by £300 a month.
I know which I'd rather have!!!

DennisCooper

1,340 posts

195 months

Tuesday 15th June 2010
quotequote all
Hi CBM5,

Yes, I actually do have positive things to say on this forum! I'm also actually glad that you are enjoying the car as i'd love myself an M5, and envious that your enjoying it so much!

Apologies if it came across in a negative way - I wasn't aiming for that at all. It's well known that a number of M5's do, more often that enthusiasts would like, get skimped on for maintenence and hence require some significant amounts in comparison to purchase prices spent on them to bring them back up to a good level again, seems this is the case here and kudos to you for buying it and stumping up the money over the last 2 months - looks like another one has been saved!

The general conversations I've had with many E39 M5 owners I know as well as enthusiasts like me who are considering getting one, even if a dream at the moment often revolve around the fact the lower priced ones are the ones which can be and are money pits - seeing as this is the first post I've seen from you (that I remember!) the fact I don't perhaps know/met you in real life at a show or gathering, means I put up in typed form, what I along with many others say in real life - the only thing is, without visual and body language to help, it seems you've taken it as a dig at you which I can assure you was not my intention.

Hope it clears that bit up, and as I say, I'm envious and supportive an M5 is providing what it was built for!

also, I don't drive a fire engine! although the V8 i did have makes it all the more why I'd love my next V8 to be in E39 M5 guise!

Cheers, Dennis!


CarbonBlackM5

Original Poster:

3,077 posts

242 months

Tuesday 15th June 2010
quotequote all
No worries Dennis, I should have probably put a different title on the thread.

In truth I have probably spent about 1K more than I thought but hopefully the car will not need anything spending on it now other than the tyres and fuel. Due to the miles its hopefully going to be a keeper because I will never get the money that I have spent on it back now anyway.

The cycling to work is going quite well though, LOL. Justifies the car a bit more anyway and allows me to drink a few more beers at the weekend smile

cosworth330

1,313 posts

261 months

Tuesday 15th June 2010
quotequote all
Glad your enjoying your M5.

I bought mine in July 09 2001 facelift M5, oil service at BMW in August 09, done about 7000 miles since & only had to put 1 litre of oil in it so far ! Just totted up bills & spent about £1500 over the course of 1 years ownership,tyres,mafs,wipers,sat nav drive e-bay,oil serv,thermostat,dice ipod thing & 4 new wheel centre badges. Mine will need new front brake discs when i change the pads next though so another £500 in parts ! I try to keep costs down by doing everything myself except the service as i want the service history to be kept upto date.

May sound a bit funny but if i'm going on a long drive with the family i much prefer to take the wife's Volvo V70 D5 R-design as its a lot newer and deffo got better seats/more comfort & double the fuel economy but twice as slow !! I don't find my M5 as exciting as i used to ( i get bored with cars quickly) but then again i don't really want to part with it either !

Got any pic's of your M5 ?

Cheers Simon.

M5 Mark

1,674 posts

195 months

Tuesday 15th June 2010
quotequote all
hehe I remember my pleasure of finding the longest route possible in my E39 M5! Worth every penny in oil and fuel! Just wait to the day you get an E60 M5, you will regret selling your children/wife/house/sperm long before you did to buy that baby wink

CarbonBlackM5

Original Poster:

3,077 posts

242 months

Wednesday 16th June 2010
quotequote all
cosworth330 said:
Glad your enjoying your M5.

I bought mine in July 09 2001 facelift M5, oil service at BMW in August 09, done about 7000 miles since & only had to put 1 litre of oil in it so far ! Just totted up bills & spent about £1500 over the course of 1 years ownership,tyres,mafs,wipers,sat nav drive e-bay,oil serv,thermostat,dice ipod thing & 4 new wheel centre badges. Mine will need new front brake discs when i change the pads next though so another £500 in parts ! I try to keep costs down by doing everything myself except the service as i want the service history to be kept upto date.

May sound a bit funny but if i'm going on a long drive with the family i much prefer to take the wife's Volvo V70 D5 R-design as its a lot newer and deffo got better seats/more comfort & double the fuel economy but twice as slow !! I don't find my M5 as exciting as i used to ( i get bored with cars quickly) but then again i don't really want to part with it either !

Got any pic's of your M5 ?

Cheers Simon.
Pics are here mate

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Edited by CarbonBlackM5 on Thursday 17th June 16:07

AliV6

685 posts

212 months

Thursday 17th June 2010
quotequote all
They sound good and perform well. But thats as far as it goes for me! Your thread title is enough to put off anyone.

Trellis

590 posts

263 months

Friday 18th June 2010
quotequote all
AliV6 said:
They sound good and perform well. But thats as far as it goes for me! Your thread title is enough to put off anyone.
Thats because threads such as "My M5 has cost me £82 per month" aren't really that exciting because people expect cars of the quality of the M5 to be reliable and rightly so. I bet theres a whole bunch of owners (myself included) who drive an E39 M5 very economically (petrol aside) vs the running costs of any 8/9 year old car.

As an example, my wifes diesel picasso has cost us more in the past 18 months than my M5......

Its best to get things in context in forums, which is why we dont all believe that VANOS units fail every 5 minutes on M cars.......


DennisCooper

1,340 posts

195 months

Friday 18th June 2010
quotequote all
Hi there,

Yes, I agree on getting context correct in forums - I do try for that myself, but I'm not perfect and initially CBM5 thought I'd had a 'dig' at him, which is quite possibly the first 'snipe' back response I've had on a forum. Subsequently seems we've understood better - which is great !

It is of course very difficult with the typed and written word to portray the context compared to talking and interacting in real life.

I think the thing here is that when it comes to an M5, although the purchase prices are now potentially very low, the maintenance bills are pretty much the same for a £60+K supercar in the BMW lineup. Yes, BMW's are probably X% cheaper than say a Porsche or a Ferrari to maintain, but still represent a significant amount to invest to keep running well. It's the 'likelihood' that things will be skimped on which increases by those owners who can't or don't want to invest the money. It seems that CBM5's car was one of those, hence why I responded in the way I did (albeit in what was initially percieved as a dig, which it wasn't!) In contrast, an E39 M5 owner who's had his for the last 5-6 months or so paid what I believe to be right at the top end of the current M5 pricing - circa £12+K and mentions he still had to spend £2000 over the last few months making it perfect. So, for CBM5's 'my car has cost £1500 per month' headline, my first intial reaction was 'oh no, he must've bought a bit of a dog M5 and perhaps didn't know. Turns out it was bit of a neglected one and CBM5 has indeed stumped up the cash to make it a good one again. E39 M5's do not 'always' break spectactularly and present £3K plus bills every year etc, however the 'likliehood' of something going bang that costs that much is greatly increased on a non well maintained car.

With other owners I know, there are daily drivers and commuters and summer weekend garage queens and the above conversation is one I and many others have had with each other. There are M5's which failed big time at 70K miles and others up there at 250K+ miles !

I agree had the figure been £82 a month, we'd all be saying wow, sounds like your car was very very well maintained and just ensure you have a little more for the recommended regular servicing needed to keep running costs as low as possible smile

CBM5 - Hope I do indeed get to meet you at a PH event sometime, after me admiring your car for 5 minutes, I'm sure we'd have a good chat !

Cheers all, Dennis!

CarbonBlackM5

Original Poster:

3,077 posts

242 months

Friday 18th June 2010
quotequote all
To be honest with a car of this age I think you will always have to spend on the car, regardless how well the it has been looked after by the previous owner.

My car was owned by the same chap for 9yrs and maintained regardless of cost by him/his company. It also had BMW warranty until they refufused to cover it due to the milage. It had sat in his barn next to his 850CSI so he hadnt been using it much. Hence it needed the money spending on it.

However, compared to the others I viewed the paint was perfect (he had paid to have the wings, bumper and bonnet sprayed), the wheels were as new, the interior was brillant, minimum number of pixels gone on the displays, it was also fully loaded which was nice.

So far the thirst for V Power has been shocking around town and even after owning an RX8 the thirst for oil is eye watering too. Again, I did my research and knew this anyway.

My car will probably require some suspension work at some point but Im still happy that its a good car. I could have brought a facelifted car which is still in the classifieds but the SH didnt seem right and it needed paint work and the wheels refurbing for starters.

Still, the V8 power is worth it, as is the noise, the comfort etc etc.

DennisCooper

1,340 posts

195 months

Friday 18th June 2010
quotequote all
Hi CBM5,

Ahh, great stuff on that background of the car itself! sounds like the bulk of the £3K has bought it up to a great level considering it's previous condition and longer term those monthly maintenance costs will be alot less smile

I'm sure you know of M5board.com ? if not, nip over there for absolutley everything to know about the car and which suspension setups are recommmended and of course at differing price points. There's a whole lot of experience and information there and currently I read/lurk on it. I've been in touch with the site owner as well in fact and also spoken to a number of frequent posters/members at a recent multi forum meet we had in Sevenoaks, Kent. Good bunch of guys, good banter as well. Not sure if you are around the South East etc but I'm hoping to make it to a few more events in the future so may well catch you up then smile

Cheers! Dennis!

CarbonBlackM5

Original Poster:

3,077 posts

242 months

Saturday 19th June 2010
quotequote all
Hi Dennis

Yep I have joined the board, never seen a forum with so much information.

I'm in Reading so would be up for meets no problem