Is this a fair price?

[courtguru]

Hi All:
Have been lurking on this board, soaking up the tons of good info on the beast, and finally contemplating taking the plunge.
Here's what I'm looking at. This is an CA registered car, MY 2003 M5, with 25K miles. Has about 3 months left on original warranty. Will get an extended 3-yr, 36K miles and lowest price I've got him down to is $47,500. Looking at Edmunds, NADA etc., I find this is slightly on high side. What do you guys/gals think? Have checked service records - only found oil changes and very minor windshield washer, engine hood contact stuff. Can something seriously going wrong at the 4 -6 year stage. And the tires seem to be 70% worn out.
Car drives real good. Am I paying too much? Also I was figuring on not doing a PPI since there was these few months left on original warranty, and I figured a major problem would manifest itself by then. Faulty assumption??

[airjack]

Hi All:
Have been lurking on this board, soaking up the tons of good info on the beast, and finally contemplating taking the plunge.
Here's what I'm looking at. This is an CA registered car, MY 2003 M5, with 25K miles. Has about 3 months left on original warranty. Will get an extended 3-yr, 36K miles and lowest price I've got him down to is $47,500. Looking at Edmunds, NADA etc., I find this is slightly on high side. What do you guys/gals think? Have checked service records - only found oil changes and very minor windshield washer, engine hood contact stuff. Can something seriously going wrong at the 4 -6 year stage. And the tires seem to be 70% worn out.
Car drives real good. Am I paying too much? Also I was figuring on not doing a PPI since there was these few months left on original warranty, and I figured a major problem would manifest itself by then. Faulty assumption??

I'm going through the same motions rights now. I'm looking at a an 02 with 29k on the odo. I will be paying 40K for what i think is a car in exceptional cond. I am still going to get a PPI as its only 1-2 hours labor depending on whether or not you get the compression test.

If anything is needed you have documented bargaining power. If not you have peace of mind and a fresh baseline with the general condition of your car.

I was debating on the PPI myself but kept telling myself this is not a Ford or a Honda I'm buying. Lots of stuff under the hood on these cars!!!

Price seems ok. not great in terms of the MY and cond. but there are a lot of good deals out there if one spends the time to look. If its a dealer your buying from have him comp you the schedule 1 service due at 30k or something like that.


just my 0.2

Best of luck

[tmoody]

i think that price is probably a fair price, given that from what i understand the CA market is a bit higher. however, for $47K i would prefer to get a CPO M5. do a little research and see if you can hunt one down with what you want on it. you could always arrange transport to CA via covered transport for about $1k and save some money to boot.

[courtguru]

Thanx for info. Re the PPI, the dealer, and its not a BMW dealer, but a sports car specialist one is really not going to let the car out of his lot just for a PPI. You see the guy I trust is about 40 miles away from this dealer. And the dealer will only let it out for this distance if I have basically bought the car

What I was thinking was that all wasn't lost because of the few months remaining. I could take it for an PP inspection; then take this to a regular BMW dealer if something was seriously out of whack to get it fixed under warranty. As I said the car drives beautifully ( dont all M5's whatever their condition), and nothing seems to be blatantly amiss - but then again these are highly tuned machines, and I certainly wouldn't know a VANOS from a Vangelis.

[nicegsxr]

I purchased my 03 M5 CPOed from Sterling BMW last Oct for 46k, so for 47k I would definitely look at a CPO vehicle. For that kind of money you should always get a PPI if you are buying without any further warranty. If you do decides to buy this M5, be sure to look into aftermarket warranties, because repairs on the M5s arent cheap. Goto M5board.com for more info btw.

[DouglasABaker]

...You see the guy I trust is about 40 miles away from this dealer. And the dealer will only let it out for this distance if I have basically bought the car ...


If the guy won't let you to take it to your dealer then I wouldn't buy the car. Offer to reimburse him for the mileage, but make darn sure you get the car inspected by someone you trust, not someone convenient for the dealer...

d-

[gbogh3]

The price looks fair, maybe 1-2k high, but it may be a really clean car. Are there any mods on the car?

[stika]

A little on the high side. Looking at any others to compare to?

[wwb4]

Price seems a little high to me for a non CPO, I'd keep looking.