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-   -   To Buy an M5 or not to Buy an M5 Is that really a question ? (http://www.bimmerfest.com/forums/showthread.php?t=650149)

mav99 10-05-2012 07:01 PM

To Buy an M5 or not to Buy an M5 Is that really a question ?
 
Hello All!!


I have a chance to by a 2001 M5 with 65k and 6 spd of course. Car fax states an accident with 29k but no details. I would be the third owner. Price range close to $15 grand. I plan on getting it inspected at BMW dealership. Anything I need to know? Color is dark blue, gunmetal wheels and Blue black interior.

Opinions ??

Suggestions ??

ard 10-05-2012 08:48 PM

A BMW dealer is the last place to inspect a car.... I am serious

M5board dot com for EVERYTHING "M5"

pockomoth 12-08-2012 02:06 AM

Yeah, take it to an Indy for the pre-inspection.

07 E63650i 01-22-2013 10:41 PM

Indy all the way!

mav99 01-23-2013 05:53 AM

I ended up passing on that car. I bought a 97 540i sport 6 spd. with 73k for under $4000 shipped from LA LA LALAA in California. No snow No rust. And well under budget.


Now what goodies should I buy for this one !!!!!!

ard 01-24-2013 09:01 PM

Quote:

Originally Posted by mav99 (Post 7331854)
I ended up passing on that car. I bought a 97 540i sport 6 spd. with 73k for under $4000 shipped from LA LA LALAA in California. No snow No rust. And well under budget.


Now what goodies should I buy for this one !!!!!!

uh, none...save your pennies for a real m5.

mav99 01-25-2013 06:42 AM

Not a helpful response
 
Thanks for the positive feedback !!!! (NOT) :thumbdwn:

Given the fact that an m5 with double the mileage would cost 3 times as much and would need repair, I am happy with my purchase.


I will keep my 540i sport put 2 grand into it and flip it for a nice profit if I need to.

And guess what, I do not need to !!!!

It also looks very pretty sitting next to my E 34.

ard 01-25-2013 06:58 AM

Quote:

Originally Posted by mav99 (Post 7336946)
Thanks for the positive feedback !!!! (NOT) :thumbdwn:

Given the fact that an m5 with double the mileage would cost 3 times as much and would need repair, I am happy with my purchase.


I will keep my 540i sport put 2 grand into it and flip it for a nice profit if I need to.

And guess what, I do not need to !!!!

It also looks very pretty sitting next to my E 34.

You were looking at a 2001 with 65k miles...so LESS than the 540 with 73k miles..NOT "double".

Owning an M5 and keeping them running perfectly is a commitment. If you are flipping cars and such, an M5 is a poor choice.

If you really want to drive an E39M5 and can spend 15, 20, 25k to purchase, fix and maintain over the 3-5 years you'll own it, great.

Best of luck-

mav99 01-25-2013 08:02 AM

response
 
To Clarify,


The m5 was 15g's with 65k (2001). My 1997 540i sport 6 spd with 73k was $3200, shipped cross country, just under $4000 all in.


My point was for $4000 what kind of M5 could I buy? It would have 150-200k miles and need work.

So the mileage would be more than doubled. And even though a M5 would be my first choice, paying 3 times more did not make sense. I feel my car is a better value.

As for flipping the car, I have no intention of doing so, but given the current economic climate, it is nice to know if the need arose, I would not be buried in the car and be forced to take a loss.

Another reason I went this route, I was considering swapping out my motor and automatic transmission on my 1995 e 34 with 117k. What do you think it would have cost to just switch to a stick? Or go all the way and install a m5 motor and transmission?

A few grand at least ????

Even though I could recoup some of the expense by selling my 2.5 motor and automatic, for a little more money I have 2 cars !!!!!!

I paid $6500 for my 1995 525i with 85k eight years ago. Due to an expanding family I had it in storage for 5 years. Finally came out of that coma and saw the light !!!! Jump started it right up on the FIRST try !!! Changed the oil, gassed it up and off I went.

The point, I have kept it in Excellent condition, its never seen snow and have refused unsolicited offers of $5 grand for the car.

I like to enjoy my cars at the right price.

Cheers,

1bad540 02-03-2013 04:12 PM

97 540 and an 01 m5 doesnt compare,

1quick540 02-05-2013 03:40 PM

I've own an Anthracite 540 six since Feb 07 and now looking at M5. There is a direct correlation to condition/history and price on theM's

mylifeasapc 02-12-2013 12:30 AM

There are better examples of E39 M5s for $15k. Save your peace of mind and start here for every E39 M5 for sale under $20k.


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