E60 M5... talk me out of it.
Discussion
Right, at the moment in my fleet I have my GT-Four, an MR2 turbo, a Mk1 MX-5 and an E38 735i.
I've just seen that you can get what look to be pretty decent E60 M5s for a shade over £15K, which would seem to make it a bargain for the performance and the toys, and the sound of the V10 obviously.
I won't ever sell the GT-Four, but assuming I can get around £4K in total for the other three cars, plus another £3K from savings, I'd be financing the rest which is plenty affordable monthly payment wise.
Given the insurance and tax I'm paying to keep those four on the road, I can't imagine I'd end up worse off in terms of tax/insurance/servicing even taking the M-tax into account.
So, anyone got any good reasons not to take the plunge? Are the E60s affected by this OBD port theft issue?
I've just seen that you can get what look to be pretty decent E60 M5s for a shade over £15K, which would seem to make it a bargain for the performance and the toys, and the sound of the V10 obviously.
I won't ever sell the GT-Four, but assuming I can get around £4K in total for the other three cars, plus another £3K from savings, I'd be financing the rest which is plenty affordable monthly payment wise.
Given the insurance and tax I'm paying to keep those four on the road, I can't imagine I'd end up worse off in terms of tax/insurance/servicing even taking the M-tax into account.
So, anyone got any good reasons not to take the plunge? Are the E60s affected by this OBD port theft issue?
Earlier examples could be ££££ to fix and you would want a low mileage example with full service history. Horrible fuel consumption but should be expected with a car with that performance. Always go for cars with full service history.
Depending on mileage done expect to change rears almost annually. Crap in the snow so you will want a set of snow tyres if you plan to do any commute during winter.
Other than that I got to say the V10 is one sweet engine...
Depending on mileage done expect to change rears almost annually. Crap in the snow so you will want a set of snow tyres if you plan to do any commute during winter.
Other than that I got to say the V10 is one sweet engine...
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!
Why? So if you don't have 15k in the bank you can't afford an M5? I see what your getting at, it's not cheap to run. One would need to have cash/credit card available for when things break.
S3_Graham said:
Why?
So if you don't have 15k in the bank you can't afford an M5? I see what your getting at, it's not cheap to run. One would need to have cash/credit card available for when things break.
Not saying that only people with the money in the bank should be able to have one but selling cars, emptying savings and getting finance seems like scraping every last possible penny together just to buy something which can cost have supercar sized bills!So if you don't have 15k in the bank you can't afford an M5? I see what your getting at, it's not cheap to run. One would need to have cash/credit card available for when things break.
Having to rely on a credit card for when things go wrong isn't wise now is it...
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!
S'not all of my savings. Selling cars is becoming necessary as 4 cars for one person is a bit excessive and makes it quite hard to find places to rent - few places have enough parking available!vescaegg said:
S3_Graham said:
Why?
So if you don't have 15k in the bank you can't afford an M5? I see what your getting at, it's not cheap to run. One would need to have cash/credit card available for when things break.
Not saying that only people with the money in the bank should be able to have one but selling cars, emptying savings and getting finance seems like scraping every last possible penny together just to buy something which can cost have supercar sized bills!So if you don't have 15k in the bank you can't afford an M5? I see what your getting at, it's not cheap to run. One would need to have cash/credit card available for when things break.
Having to rely on a credit card for when things go wrong isn't wise now is it...
Bloody do it
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!
Jaysus, do people not read posts anymore?Point out to me where he mentions anything at all about clearing out his savings?
ETA - I see the OP has provided clarification (not that any was needed IMO)
Anyways, that aside, assuming you can handle the assocated running costs, I'd go for it.
Edited by ApexJimi on Sunday 22 July 13:35
ApexJimi said:
Jaysus, do people not read posts anymore?
Point out to me where he mentions anything at all about clearing out his savings?
ETA - I see the OP has provided clarification (not that any was needed IMO)
Anyways, that aside, assuming you can handle the assocated running costs, I'd go for it.
I just assumed that if he had the money he wouldn't be getting finance...Point out to me where he mentions anything at all about clearing out his savings?
ETA - I see the OP has provided clarification (not that any was needed IMO)
Anyways, that aside, assuming you can handle the assocated running costs, I'd go for it.
Edited by ApexJimi on Sunday 22 July 13:35
Not a stupid assumption in my opinion
S3000 said:
Bad MPG.. no low Grunt.. bad SMG for city driving.. too heavy.. expensive.. rubbish in 400 hp mode.. tyre killer... emmisions who are bad for trees and birds.
thats it.. dont buy it
Do they only come in SMG, or do they do a manual?thats it.. dont buy it
I take it from the lack of mentions that it's not affected by the OBD port theft issue thingie then?
gazchap said:
Do they only come in SMG, or do they do a manual?
I take it from the lack of mentions that it's not affected by the OBD port theft issue thingie then?
I'm afraid it is vulnerable from my understanding of the issue. (The post facelift "LCI" ones that is.)I take it from the lack of mentions that it's not affected by the OBD port theft issue thingie then?
Edited by mrmr96 on Sunday 22 July 17:48
Contigo said:
Don't buy a cheap one with no warranty, it can ruin you if there is no Mondial warranty on the E6x.
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.Gassing Station | General Gassing | Top of Page | What's New | My Stuff