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-   E39 M5 (1998-2003) (http://www.bimmerfest.com/forums/forumdisplay.php?f=109)
-   -   looking to get into a M5...budget questions (http://www.bimmerfest.com/forums/showthread.php?t=370241)

armin vr6 05-21-2009 08:13 AM

looking to get into a M5...budget questions
 
hey,
so i have about 18000 to spend on a car. I was looking at some e39 m5's, and was wondering what kinda deal i could get for my budget? how is maintenance going to be? insurance? (19 years old) am i going to run into lots of problems?

thanks

dragoncoach 05-21-2009 03:44 PM

$18k will get you a decent M5. If you are concerned about cost of owning or maintaining costs associated, you are considering the wrong car. M5's are great cars but are expensive. They are expensive to maintain, run, and insure. They are fun and fast but maybe you should buy a less expensive car and save some more money so you can have a little nest egg set aside for repairs then buy the M5. Things break from normal wear and tear and will always need to be taken care of. This way, you'll be able to pay for repairs instead of letting it sit while you earn the money to fix it. I see you are 19. I strongly urge you to check how much insurance will run you as well. Good luck!

ganesht 05-21-2009 04:12 PM

so your not sure if you want to get a 3/5/7????

all three cars are kinda targeted at different markets..

http://www.bimmerfest.com/forums/sea...&starteronly=1

ganesht 05-21-2009 04:16 PM

now back to your question:

on the m3 and m5 insurance will most likely be the real killer..

don't even think about the 7 unless you have a steady job and you can afford to keep money aside to cover repairs...

why don't you get a 01ish 325/ or a 530 and sc it? insurance wont be that bad...

armin vr6 05-21-2009 04:45 PM

idk... i don't really want anything else besides the m3, m5, and 745. so we'll see what happens

dragoncoach 05-21-2009 09:14 PM

I think the first step is to decide on a model and year. Then, decide if you can afford it. Lots of information on many forums. Do the homework first before getting in too deep.

c41006 05-21-2009 09:25 PM

The insurance on an m5 will be insane at your age

facotaco 06-13-2009 04:39 PM

how about an IS instead. just build it up.

ganesht 06-14-2009 05:37 AM

im guessing the op is a deadbeat with nothing better to do than spam the forums...

http://www.bimmerfest.com/forums/sea...duser&u=155582

created an account, posted random crap and hasnt been online since..

mylifeasapc 02-12-2013 12:49 AM

Start here to compare a few examples. I've already done a lot of the heavy lifting. I built a spreadsheet that has every E39 M5 (currently 100) for sale across the country under $20k. It includes prices, miles, ownership records and more. Definitely join up at M5 Board too. Tons of information.

07 E63650i 02-12-2013 12:55 AM

Quote:

Originally Posted by armin vr6 (Post 4201085)
hey,
so i have about 18000 to spend on a car. I was looking at some e39 m5's, and was wondering what kinda deal i could get for my budget? how is maintenance going to be? insurance? (19 years old) am i going to run into lots of problems?

thanks

I wouldn't do it if I were you. Insurance for me at the age of 20 with a clean record and driving a 2011 Toyota Corolla costs me about $900 every six months. Especially with a BMW M, expect to see 3 to 5 figure repairs in the event that something should go wrong. S62B50 has been known for some issues like carbon build-up, but only the experts would really know. A good alternative for your budget would be considering a 3-series or an Infiniti G.

toybuilder 02-22-2013 06:09 AM

Buliding up to M
 
Maybe you should try a 3 first a 330i w/ZHP is a nice choice and shouldn't kill you on maintenance or insurance even at 19.Even an e36 M3 would be easier on your wallet,unless your a professional BMW tech the maintenance on an M5 is not cheap, and being 47 with a clean driving record makes the insurance reasonable ,but I can tell you Progressive was charging us $1200.00 every six months for my daughter's Mustang because it's a "sports car" V6 and all, she's 22 now hence the" was charging us" since she's now off our policy .Which is one of the reasons I started to look for a E39 M5 the other is I am a Master BMW tech so nobody works on my BMW's but me.I don't charge myself my normal $80 per hour.Don't think you can't get into BMW's just make sure you don't make your first experience a horror story .

Popoemt 02-22-2013 06:28 AM

I certainly hope those of you recommending things to the OP know its now 4 years later...

toybuilder 02-22-2013 07:03 AM

A little slow this morning
 
The kid has most likely already bought an M5 gone broke trying to pay the insurance an got 12 points on his license for all the speeding tickets and killed the car because he couldn't afford keep it running. Oh well !


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