E60 M5 Private sale - best route and how much hassle?
Discussion
Hi
After nearly two years of ownership the time has come to move on from the M5.
Being totally underwhelmed with the trade-in offer fom my local BMW dealership I'm considering selling privately.
I was thinking of selling via the PH classifieds but was just wondering what route M5 owners have found best for selling and also how much hassle privately selling an M5 brings with it.
Appreciate your views! (It's a 55 plate with about 57000 miles on it if that helps)
After nearly two years of ownership the time has come to move on from the M5.
Being totally underwhelmed with the trade-in offer fom my local BMW dealership I'm considering selling privately.
I was thinking of selling via the PH classifieds but was just wondering what route M5 owners have found best for selling and also how much hassle privately selling an M5 brings with it.
Appreciate your views! (It's a 55 plate with about 57000 miles on it if that helps)
Probably a bit unreasonable to plaster the dealer offer up on the web but it was no better than one of the Internet based companies which buy any car (but not that one!) - assuming they sell it again via the main dealer then there will be a considerable mark-up.
I would be interested in people's views on where to pitch the price and experiences of private sales of M5s.
A quick search on Autotrader doesn't show anything close for less than mid £18000s, given mine has extended leather, HUD, TV, bluetooth, adaptive lights and active seat bolsters. As I would like to move it on and it would be a private sale, I was thinking somehere in the low £17000s
I would be interested in people's views on where to pitch the price and experiences of private sales of M5s.
A quick search on Autotrader doesn't show anything close for less than mid £18000s, given mine has extended leather, HUD, TV, bluetooth, adaptive lights and active seat bolsters. As I would like to move it on and it would be a private sale, I was thinking somehere in the low £17000s
I'm watching a few of these at the moment - and they're really not shifting. Even competitively priced dealer cars with the all important warranty...... The value right now is incredible.
To buy privately for this age and mileage I'd be wanting to know if the clutch and flywheel has been done, how up to date the service history is..... And see relatively recent tyres and brakes.
If your car ticks all these boxes then around 17k would prob be about right but be prepared to accept offers.
The high cost of prepping these cars is what forces low trade prices. Same applies with 911s. What on the surface may look like high dealer margins can get wiped out quite quickly.
To buy privately for this age and mileage I'd be wanting to know if the clutch and flywheel has been done, how up to date the service history is..... And see relatively recent tyres and brakes.
If your car ticks all these boxes then around 17k would prob be about right but be prepared to accept offers.
The high cost of prepping these cars is what forces low trade prices. Same applies with 911s. What on the surface may look like high dealer margins can get wiped out quite quickly.
As above really. Even the ones currently on the AUC are all over the place price wise from dealer to dealer.
As soon as one pops up locally at a good price I'm straight down for a pointed chat about monies.
But I wouldn't want one without a warranty which, for me, rules out a private purchase.
I suspect many people will be thinking similarly - justified or not.
As soon as one pops up locally at a good price I'm straight down for a pointed chat about monies.
But I wouldn't want one without a warranty which, for me, rules out a private purchase.
I suspect many people will be thinking similarly - justified or not.
Hence the justified or otherwise bit 
That puts the onus and risk on me to make sure it is transferable / valid etc etc etc. Whereas a dealer purchase (specifically AUC) puts all the risk on the dealer.
I know a little about the BMW warranty but it seems to me to get complicated quickly in terms of how much it will cost in the future against mileage and what is covered (paying monthly 'loophole' versus yearly up front etc). Even the official warranty letter I've recently had through to renew my 1 series makes some very..interesting..claims about warranty availability should I not choose to extend it right now. I suspect it's just hard sales tactics but it adds to the confusion.
I've also never really figured out how you can guarantee the warranty will kick in. I have the impression (again correctly or otherwise) that until you make a claim you're never entirely sure. Especially with regards to having kept the car in the BMW servicing chain to keep the warranty valid. Which then leads onto the question of how on earth you figure out if a car has full service history in the condition based servicing world given there is no standard interval for many items.
Basically for me (and although that's a sample size of one, I will presume at least some other potential buyers will be thinking along the same lines) I'd prefer the dealer has the risk in figuring all this out and sticking to it and I imagine the dealers are fully aware of that risk as well - partly explaining trade bids for the cars.
That puts the onus and risk on me to make sure it is transferable / valid etc etc etc. Whereas a dealer purchase (specifically AUC) puts all the risk on the dealer.
I know a little about the BMW warranty but it seems to me to get complicated quickly in terms of how much it will cost in the future against mileage and what is covered (paying monthly 'loophole' versus yearly up front etc). Even the official warranty letter I've recently had through to renew my 1 series makes some very..interesting..claims about warranty availability should I not choose to extend it right now. I suspect it's just hard sales tactics but it adds to the confusion.
I've also never really figured out how you can guarantee the warranty will kick in. I have the impression (again correctly or otherwise) that until you make a claim you're never entirely sure. Especially with regards to having kept the car in the BMW servicing chain to keep the warranty valid. Which then leads onto the question of how on earth you figure out if a car has full service history in the condition based servicing world given there is no standard interval for many items.
Basically for me (and although that's a sample size of one, I will presume at least some other potential buyers will be thinking along the same lines) I'd prefer the dealer has the risk in figuring all this out and sticking to it and I imagine the dealers are fully aware of that risk as well - partly explaining trade bids for the cars.
eztiger said:
Hence the justified or otherwise bit
That puts the onus and risk on me to make sure it is transferable / valid etc etc etc. Whereas a dealer purchase (specifically AUC) puts all the risk on the dealer.
I know a little about the BMW warranty but it seems to me to get complicated quickly in terms of how much it will cost in the future against mileage and what is covered (paying monthly 'loophole' versus yearly up front etc). Even the official warranty letter I've recently had through to renew my 1 series makes some very..interesting..claims about warranty availability should I not choose to extend it right now. I suspect it's just hard sales tactics but it adds to the confusion.
I've also never really figured out how you can guarantee the warranty will kick in. I have the impression (again correctly or otherwise) that until you make a claim you're never entirely sure. Especially with regards to having kept the car in the BMW servicing chain to keep the warranty valid. Which then leads onto the question of how on earth you figure out if a car has full service history in the condition based servicing world given there is no standard interval for many items.
Basically for me (and although that's a sample size of one, I will presume at least some other potential buyers will be thinking along the same lines) I'd prefer the dealer has the risk in figuring all this out and sticking to it and I imagine the dealers are fully aware of that risk as well - partly explaining trade bids for the cars.
Buying my car with its AUC warranty means it has exactly the same cover as if you purchased from the dealer, the only think I couldnt do was a PDI That puts the onus and risk on me to make sure it is transferable / valid etc etc etc. Whereas a dealer purchase (specifically AUC) puts all the risk on the dealer.
I know a little about the BMW warranty but it seems to me to get complicated quickly in terms of how much it will cost in the future against mileage and what is covered (paying monthly 'loophole' versus yearly up front etc). Even the official warranty letter I've recently had through to renew my 1 series makes some very..interesting..claims about warranty availability should I not choose to extend it right now. I suspect it's just hard sales tactics but it adds to the confusion.
I've also never really figured out how you can guarantee the warranty will kick in. I have the impression (again correctly or otherwise) that until you make a claim you're never entirely sure. Especially with regards to having kept the car in the BMW servicing chain to keep the warranty valid. Which then leads onto the question of how on earth you figure out if a car has full service history in the condition based servicing world given there is no standard interval for many items.
Basically for me (and although that's a sample size of one, I will presume at least some other potential buyers will be thinking along the same lines) I'd prefer the dealer has the risk in figuring all this out and sticking to it and I imagine the dealers are fully aware of that risk as well - partly explaining trade bids for the cars.
In 4 years of owning a couple of M5s I have never had a single warranty claim turned aside by BMW. The service is fantastic, as is the cover.
You should NEVER consider buying one with does not have the full BMW backed warranty, imho it is likely to lead to a big hole in your bank balance.
It isnt that the car isnt reliable, it is more that the cost of parts is incredible and every job seems to take an age.
S
I'd recomend you advertise in the PH classifieds and autotrader if you want to sell your car if your not keen on the trade in prices.... of cause its going to be more hassle to sell private and your still not going to get significantly more, maybe 16k realistically from a private sale of a 55 plate... same car without warranty will be 14k ish max.
Lots of people want the peace of mind that a warranty provides them and are going to be prepared to pay the 2k premium so as long as you can prove your cars one is transferable then you should be able to sell reasonably quickly.
I STILL cant believe what a bargain these cars are and how bloody good they are... im still smitten and Id be interested in knowing what you plan to move to
Lots of people want the peace of mind that a warranty provides them and are going to be prepared to pay the 2k premium so as long as you can prove your cars one is transferable then you should be able to sell reasonably quickly.
I STILL cant believe what a bargain these cars are and how bloody good they are... im still smitten and Id be interested in knowing what you plan to move to
Edited by andygtt on Wednesday 6th June 14:11
Edited by andygtt on Wednesday 6th June 14:13
Air Support said:
Probably a bit unreasonable to plaster the dealer offer up on the web but it was no better than one of the Internet based companies which buy any car (but not that one!) - assuming they sell it again via the main dealer then there will be a considerable mark-up.
I would be interested in people's views on where to pitch the price and experiences of private sales of M5s.
A quick search on Autotrader doesn't show anything close for less than mid £18000s, given mine has extended leather, HUD, TV, bluetooth, adaptive lights and active seat bolsters. As I would like to move it on and it would be a private sale, I was thinking somehere in the low £17000s
They all have HUD & Extended Leather was the standard option, it was Full Leather that was an extra £5K+. Pretty sure they also have Bluetooth as standard although IIRC on a 55 plate their was an Extended Bluetooth option with Telematics. Not sure if TV was standard or adaptive lights & i know the Active Seats was defo a cost option.I would be interested in people's views on where to pitch the price and experiences of private sales of M5s.
A quick search on Autotrader doesn't show anything close for less than mid £18000s, given mine has extended leather, HUD, TV, bluetooth, adaptive lights and active seat bolsters. As I would like to move it on and it would be a private sale, I was thinking somehere in the low £17000s
In todays market & with fuel prices so high, any car that's sub 20mpg is going to get hammered come sale time. If i stumbled across a spotless one with full options list i could see myself returning to the E60 M5 fold.
skeeterm5 said:
You should NEVER consider buying one with does not have the full BMW backed warranty, imho it is likely to lead to a big hole in your bank balance.
It isnt that the car isnt reliable, it is more that the cost of parts is incredible and every job seems to take an age.
S
lol, says the guy who is selling his car that has a BMW warranty It isnt that the car isnt reliable, it is more that the cost of parts is incredible and every job seems to take an age.
S
I paid a lot less from a dealer for a higher spec M5 without a warranty and have done loads of london miles with issue (around 15k)... shock horror they dont all go wrong.
Personally Id be shying away from ones that have had loads of warranty work done as from what I have seen the issues repeat once they start (I suspect often the real issue wasnt fixed and just temporarily masked by other things being replaced)... but thats going to be an unpopular view.
i've edited my post because I've realised its not you that have the car for sale... oops sorry
Edited by andygtt on Wednesday 6th June 14:14
There are some good deals out there for prospective buyers.....
http://www.autotrader.co.uk/classified/advert/2012...
http://www.autotrader.co.uk/classified/advert/2012...
Seesure said:
There are some good deals out there for prospective buyers.....
http://www.autotrader.co.uk/classified/advert/2012...
And some potential financial black holes too!http://www.autotrader.co.uk/classified/advert/2012...
andygtt said:
skeeterm5 said:
You should NEVER consider buying one with does not have the full BMW backed warranty, imho it is likely to lead to a big hole in your bank balance.
It isnt that the car isnt reliable, it is more that the cost of parts is incredible and every job seems to take an age.
S
lol, says the guy who is selling his car that has a BMW warranty It isnt that the car isnt reliable, it is more that the cost of parts is incredible and every job seems to take an age.
S
I paid a lot less from a dealer for a higher spec M5 without a warranty and have done loads of london miles with issue (around 15k)... shock horror they dont all go wrong.
Personally Id be shying away from ones that have had loads of warranty work done as from what I have seen the issues repeat once they start (I suspect often the real issue wasnt fixed and just temporarily masked by other things being replaced)... but thats going to be an unpopular view.
i've edited my post because I've realised its not you that have the car for sale... oops sorry
Edited by andygtt on Wednesday 6th June 14:14
Jazzer said:
There are black holes and there are E60 M5 black holes.....
I agree, mine has a Mondial warranty on it that the previous owner took out but it's got a 200 quid excess on it and is the lowest form of cover. As soon as it comes to renewal I'm going for the full monty on it!!!Gassing Station | M Power | Top of Page | What's New | My Stuff