Any Advice on Buying a Used M5
Discussion
Hi-
I'm looking at Buying an Used M5- price guide £25,000- £35,000
Having never purchased an M5 or indeed a BMW- just wondering if anyone could provide some a "Guide/Tips" on the following
* Should I only look at a Approved Used M5's or is better include looking Trade & Private Sellers
* Should I completely stay away from CAT D Cars?
* When buying- How would I know if someone has "thrashed" the Car etc?
* Should I wait for the release of the New M5 (not sure if this will significantly impact the price of the M5 2005-2010 models)
* Is there any signficant different between a 2005 model and 2007
* Any other General Tips- I have not mentioned (aware I could have missed a really important one)
Sorry if I'm asking the "obvious" here- just don't want to buy my dream car to find out that someone has been using it drive everywhere at Warp Speed!!!
Thanks for any help.
I'm looking at Buying an Used M5- price guide £25,000- £35,000
Having never purchased an M5 or indeed a BMW- just wondering if anyone could provide some a "Guide/Tips" on the following
* Should I only look at a Approved Used M5's or is better include looking Trade & Private Sellers
* Should I completely stay away from CAT D Cars?
* When buying- How would I know if someone has "thrashed" the Car etc?
* Should I wait for the release of the New M5 (not sure if this will significantly impact the price of the M5 2005-2010 models)
* Is there any signficant different between a 2005 model and 2007
* Any other General Tips- I have not mentioned (aware I could have missed a really important one)
Sorry if I'm asking the "obvious" here- just don't want to buy my dream car to find out that someone has been using it drive everywhere at Warp Speed!!!
Thanks for any help.
If I had your budget to buy a used M5, I think I would stick to main dealer cars.
IMO the small premium you pay is worth it, for the peace of mind the checks they carry out, and the warranty, which is cast iron, give.
They're are no real horror stories circulating about these cars. A few cars have had gearbox issues, but I think most of it has been down to software needing upgraded. Other than that they seem to be pretty bullet proof, and some of them have a fair few miles under their belt now.
However, they are very complex, and if you were unlucky enough to end up with an abused and/or neglected one, there is much that could go wrong, and be horrendously expensive to put right.
That's why I would stick with a BMW approved car.
IMO the small premium you pay is worth it, for the peace of mind the checks they carry out, and the warranty, which is cast iron, give.
They're are no real horror stories circulating about these cars. A few cars have had gearbox issues, but I think most of it has been down to software needing upgraded. Other than that they seem to be pretty bullet proof, and some of them have a fair few miles under their belt now.
However, they are very complex, and if you were unlucky enough to end up with an abused and/or neglected one, there is much that could go wrong, and be horrendously expensive to put right.
That's why I would stick with a BMW approved car.
+1 with Dave on buying AUC.
With your budget, you should be able to get a low-ish mileage 2007.
Check the service history and that run-in service was done at approx 1,200 miles.
Check the i-drive to see when the next big service is due.
I'm not sure about significant differences between 05 and 07; I think that there were small changes but I had a June 08 so can't be sure that 07 cars were affected - I think that the rear lights may have changed slightly. No big deal.
The values of the e60s will definitely drop with the arrival of the f60, but the new car will have a v8 twin turbo rather than a v10 so will lack the character. It will probably be more fuel efficient tho' and, who knows, may have a decent size fuel tank (the e60's tank is pitiful on a car that does 12 mpg). Even if their values are likely to drop, I think that the 2nd hand e60s are amazing value at £35-40k. The new one is likely to cost £70k plus, IMO.
You need to go out for a decent test drive on the car that you're interested in.
The SMGIII is not for everyone as it has lots of idiosyncracies, so you need at least an hour to familiarise yourself with it in different conditions - e.g. just going for a blast down a motorway won't give you any idea at all what it's like in town traffic, on hill starts in traffic etc. Not that these will necessarily put you off but it's best that you buy with your eyes open.
Also, if you can, try to get out for a drive in the car from cold.
Good luck with the search.
With your budget, you should be able to get a low-ish mileage 2007.
Check the service history and that run-in service was done at approx 1,200 miles.
Check the i-drive to see when the next big service is due.
I'm not sure about significant differences between 05 and 07; I think that there were small changes but I had a June 08 so can't be sure that 07 cars were affected - I think that the rear lights may have changed slightly. No big deal.
The values of the e60s will definitely drop with the arrival of the f60, but the new car will have a v8 twin turbo rather than a v10 so will lack the character. It will probably be more fuel efficient tho' and, who knows, may have a decent size fuel tank (the e60's tank is pitiful on a car that does 12 mpg). Even if their values are likely to drop, I think that the 2nd hand e60s are amazing value at £35-40k. The new one is likely to cost £70k plus, IMO.
You need to go out for a decent test drive on the car that you're interested in.
The SMGIII is not for everyone as it has lots of idiosyncracies, so you need at least an hour to familiarise yourself with it in different conditions - e.g. just going for a blast down a motorway won't give you any idea at all what it's like in town traffic, on hill starts in traffic etc. Not that these will necessarily put you off but it's best that you buy with your eyes open.
Also, if you can, try to get out for a drive in the car from cold.
Good luck with the search.
Hi M5Dave/Skrambles,
Thanks for both your insights- really interesting points that I will take fully on board.
Given that I have never purchased a "True High Performance" car before, buying from a BMW Dealership does have the key benefit of the Warranty. I presume that if I purchased "Trade" (Not BMW dealership) they would only come with 3 months or so.
Cheers
Thanks for both your insights- really interesting points that I will take fully on board.
Given that I have never purchased a "True High Performance" car before, buying from a BMW Dealership does have the key benefit of the Warranty. I presume that if I purchased "Trade" (Not BMW dealership) they would only come with 3 months or so.
Cheers
Hi mate!
I agree with everything already said.
The key thing is that you buy one with BMW warranty intact, whether privately or from a dealer. Not that looked after cars are dodgy in any way.....I've done 10000 miles in mine, with not a single issue so far.....totally reliable.....luvin it. The car much prefers longer jouneys....it's far too good for silly, mundane work.
Don't bother waiting for the new one to come out.....just go for it, you'll have no regrets. Used values will not plummet dramatically.
Do drive several though....some are far better than others.
Desirable options include the multifunctional seats, extended voice contol, highbeam assist, heated rear seats, full leather (£5K), bluetooth/telematics, comfort access....and logic 7 is a fab sound system. The M-seats can be a little annoying and are often turned off by drivers, who save them for hoontime!
Check with BMW to see what work has been done on the car and when....very important. Brakes and discs are expensive and would be a good bonus if recently done. Make sure that it has a good set of tyres all round, preferably Michelin PS2s (by far the best tyre for the car)....I was shocked at how different the car felt on lesser makes when test driving several prior to purchase.
The car will drink a litre of oil every 3000 miles or so....a message in the i-drive will tell you to add another litre (buy the M-series oil from Opie Oils....never from BMW!)
And ignore all the crap about SMG.....I believe that most people, with the greatest respect, don't know what it is or appreciate how it works. It is superb and absolutely suited to the car, as you will gleefully learn when going through the gears in S6, with DSC off (eventually!!) Smooth shifts are possible at all speeds.....I really enjoyed the challenge of learning how to do that and still get a kick out of making rapid, smooth, balanced progress down my favourite roads.
The cars are expensive to run of course, but worth every penny.
The economy is not bad if you avoid lots of stop-start town driving, or mental, full attack for extended periods. I enjoy my car at weekends, typically getting around 19mpg...never seen it below 18mpg.....and I do drive it as it should be driven.
Take your time and get a good one....look forward to seeing the pics.
Good luck!
Jazzer
I agree with everything already said.
The key thing is that you buy one with BMW warranty intact, whether privately or from a dealer. Not that looked after cars are dodgy in any way.....I've done 10000 miles in mine, with not a single issue so far.....totally reliable.....luvin it. The car much prefers longer jouneys....it's far too good for silly, mundane work.
Don't bother waiting for the new one to come out.....just go for it, you'll have no regrets. Used values will not plummet dramatically.
Do drive several though....some are far better than others.
Desirable options include the multifunctional seats, extended voice contol, highbeam assist, heated rear seats, full leather (£5K), bluetooth/telematics, comfort access....and logic 7 is a fab sound system. The M-seats can be a little annoying and are often turned off by drivers, who save them for hoontime!
Check with BMW to see what work has been done on the car and when....very important. Brakes and discs are expensive and would be a good bonus if recently done. Make sure that it has a good set of tyres all round, preferably Michelin PS2s (by far the best tyre for the car)....I was shocked at how different the car felt on lesser makes when test driving several prior to purchase.
The car will drink a litre of oil every 3000 miles or so....a message in the i-drive will tell you to add another litre (buy the M-series oil from Opie Oils....never from BMW!)
And ignore all the crap about SMG.....I believe that most people, with the greatest respect, don't know what it is or appreciate how it works. It is superb and absolutely suited to the car, as you will gleefully learn when going through the gears in S6, with DSC off (eventually!!) Smooth shifts are possible at all speeds.....I really enjoyed the challenge of learning how to do that and still get a kick out of making rapid, smooth, balanced progress down my favourite roads.
The cars are expensive to run of course, but worth every penny.
The economy is not bad if you avoid lots of stop-start town driving, or mental, full attack for extended periods. I enjoy my car at weekends, typically getting around 19mpg...never seen it below 18mpg.....and I do drive it as it should be driven.
Take your time and get a good one....look forward to seeing the pics.
Good luck!
Jazzer
From time to time, I try the auto mode to remind myself why I don't use it. Every time, I remember why by the first change. All the modes do is to set the change-up points. They appear to be simply set at rev points. It never, ever changes at the right time, except in A5 mode on full attack. It is pointless.
Thanks Guys-
especially Jazzer- really appreciate all info/tips supplied.
If you/anyone could further advise-
If I was to go for the likes of a 2005 model with c40,000 miles + on the clock (and was outside of the warranty) - I presume I would get at best 3 months from the Trade Seller and "nothing" from a Private Seller?
As I was thinking of the option of buying one at this level-
Getting a full RAC Check of the Car and then purchasing my own Warranty Separately (I believe you can do this through certain insurance/warranty companies)-
Thanks
especially Jazzer- really appreciate all info/tips supplied.
If you/anyone could further advise-
If I was to go for the likes of a 2005 model with c40,000 miles + on the clock (and was outside of the warranty) - I presume I would get at best 3 months from the Trade Seller and "nothing" from a Private Seller?
As I was thinking of the option of buying one at this level-
Getting a full RAC Check of the Car and then purchasing my own Warranty Separately (I believe you can do this through certain insurance/warranty companies)-
Thanks
Hi-
I was thinking of getting them to do a "full RAC"- Engine Check etc... obviously from your response, I presume that as capable as these guys are, they would not know what they were looking?
Did not realise you could take it to a BMW Specialist- I would definitely do this instead.
Would this be best through a BMW Dealership, or do there any BMW Specialists who offer these services?
Thanks again
I was thinking of getting them to do a "full RAC"- Engine Check etc... obviously from your response, I presume that as capable as these guys are, they would not know what they were looking?
Did not realise you could take it to a BMW Specialist- I would definitely do this instead.
Would this be best through a BMW Dealership, or do there any BMW Specialists who offer these services?
Thanks again
Depends where the car is located. I rang a main dealer and asked if they would do an inspection on a E39 M5 and he said they dont do them which must be rubbish.
Cant see a problem asking them to inspect an E60 M5 but they will probably be more expensive than a specialist. Most private sellers would be happy to take the car to a garage to have it up on the ramp for a look.
Cant see a problem asking them to inspect an E60 M5 but they will probably be more expensive than a specialist. Most private sellers would be happy to take the car to a garage to have it up on the ramp for a look.
Evening Wheels!
The top tip here is not to buy without BMW warranty.....and with your proposed budget, there would be no need to anyway. Buying a cheaper, unwarranted car is a false economy. Do things right and there will be far less stress and worry, far more fun and enjoyment.
Forget aftermarket warranties for this car.....BMW is really by far the best route.
The best bet would be a lower mileage car bought privately, with remaining BMW warranty....would save up to £2K on BMW dealer prices. The purchase could be subject to satisfactory inspection by a reputable, independent BMW specialist....some of these guys are fabulous, really know their stuff.
There were issues with some of the early 05 cars and these are well documented. I have driven two of them and did not like them at all.....not saying they're all like that though!!
Jazzer
The top tip here is not to buy without BMW warranty.....and with your proposed budget, there would be no need to anyway. Buying a cheaper, unwarranted car is a false economy. Do things right and there will be far less stress and worry, far more fun and enjoyment.
Forget aftermarket warranties for this car.....BMW is really by far the best route.
The best bet would be a lower mileage car bought privately, with remaining BMW warranty....would save up to £2K on BMW dealer prices. The purchase could be subject to satisfactory inspection by a reputable, independent BMW specialist....some of these guys are fabulous, really know their stuff.
There were issues with some of the early 05 cars and these are well documented. I have driven two of them and did not like them at all.....not saying they're all like that though!!
Jazzer
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