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E60 M5 (2006 - 2010)

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  #1  
Old 11-30-2010, 05:17 PM
jaisenberg jaisenberg is offline
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Need Advice - 08 M5 or 08 535i

Ok, that probably sounds like a big spread in vehicles, but basically, to make a long story short, i purchased an 08 535i that did not turn out to be as represented by the dealer (non-BMW dealership). They have agreed to either 1) replace with another 535 (which they will find at an auction) that passes a full BMW dealer pre-purchase inspection or 2) cut me a great deal on something on their lot. They have an 08 M5 with 51,000 miles on their lot, and assuming it passes a full dealer inspection, i can just about afford to get into it, with an extended warranty. My question is am i getting in over my head with an M5 with higher miles outside of the factory warranty? How reliable is the M5, and what besides brakes, tires, oil changes etc can i expect? I love the 535 and feel like it is plenty of power for me, never thought i could afford an M5. I would love the feedback of this community...Thanks in advance!
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  #2  
Old 12-03-2010, 11:18 AM
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Bombay Jay Bombay Jay is offline
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08 M5 - No HPFP!
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  #3  
Old 12-05-2010, 06:29 AM
Zening Zening is offline
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go with M5. haven't you heard all the bad things about the N54's HPFP problems?
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  #4  
Old 12-05-2010, 06:38 AM
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dalekressin dalekressin is offline
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Quote:
Originally Posted by jaisenberg View Post
Ok, that probably sounds like a big spread in vehicles, but basically, to make a long story short, i purchased an 08 535i that did not turn out to be as represented by the dealer (non-BMW dealership). They have agreed to either 1) replace with another 535 (which they will find at an auction) that passes a full BMW dealer pre-purchase inspection or 2) cut me a great deal on something on their lot. They have an 08 M5 with 51,000 miles on their lot, and assuming it passes a full dealer inspection, i can just about afford to get into it, with an extended warranty. My question is am i getting in over my head with an M5 with higher miles outside of the factory warranty? How reliable is the M5, and what besides brakes, tires, oil changes etc can i expect? I love the 535 and feel like it is plenty of power for me, never thought i could afford an M5. I would love the feedback of this community...Thanks in advance!
I think you know the answer to your own question. If it doesn't feel right, your feelings should dictate the decision. Be careful with this decision. if you feel you can just afford the M5, then you probably can't affort to run it. CPO is not like the 4 yr 50K warranty. This M5 has no CPO and the BMW mechanic that inspects the car is not offering any warranty at all; just an educated opinion.

51,000 miles on an M5 are a lot of miles.
If it has SMG transmission; the car has learned another driver's style.
This car is called "the beast" for a reason. You may not be excited to learn the cost of ownership.
Don't get me wrong, I'd love an M5 but that one has a lot of miles. HPFP is a real issue for me with dependability (535i), but M5 is a car you might not want as your daily drive.

Go to M5 board and read about the Beast!
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Last edited by dalekressin; 12-05-2010 at 06:40 AM.
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  #5  
Old 12-07-2010, 09:38 AM
edwardtt10022 edwardtt10022 is offline
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Originally Posted by dalekressin View Post
If it has SMG transmission; the car has learned another driver's style.
+1 on most points. SMG could be reset I believe it re-learns and re-assesses the tranny wear but don't have literature to back it up. Whether the original owner perfected the engine/SMG break-in is another story..
OP, M5 & 535 are really in different categories; you may want to look into the 550 as well as and if you tag MPG to the 550 in the latter exercise then M5 is definitely not for you.

Good luck

Last edited by edwardtt10022; 12-07-2010 at 09:40 AM.
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  #6  
Old 12-07-2010, 09:59 AM
bwfryguy bwfryguy is offline
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I am thinking about the same thing, I have a 2008 550i sport w 22k miles and I have an offer on a 2007 m5 with 32k miles and out of warranty. I want the M5 but I am very worried about maintenance. I would love any input
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  #7  
Old 12-07-2010, 01:05 PM
jaisenberg jaisenberg is offline
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I appreciate the advice. So they ended up finding a 550i, which worked out to be slightly more per month than the 535. It passed a full pre-purchase inspection from my local BMW dealer. I am now going thorough the very challenging process of deciding on an extended warranty or saving the money for potential repairs. BMW's platinum plan for 3 more years/up to 100k is being quoted to me at 4200. The fidelity plan is roughly $3995 for the same coverage, Carchex found a plan for $3700, and the used lot offered a plan through Warranty Solutions for $2500 for again about the same term. I know this has been debated ad-nauseum here and other places...trying to make a wise decision as this is my first BMW...
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  #8  
Old 12-07-2010, 01:44 PM
edwardtt10022 edwardtt10022 is offline
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OP, Now that is a tough call.. I truly believe that extended warranty questions and decisions should be somewhat cleared, answered and ready to be acted upon a bit ahead of time for the obvious reasons (some might be 1/ High scam rate in this type of business 2/ variations in quotes for same plan (i.e. $4.2K vs $2.5k) 3/ Ability to walk into the car purchase deal with a strategy rather than to emotions)
Good luck!
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  #9  
Old 12-07-2010, 08:10 PM
ALPINE_M5 ALPINE_M5 is offline
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OP, as edward mentioned that you should leave emotion at the door when making a decision like this. Although we all emotionally love our cars you have to stand back to make sure it make financial sense first and foremost. You cannot expect the warranty to be your shield for all that can go wrong. The M5 would not have been a good deal for you since the delta between an 2008 535i ( 28-32K ) or a 2008 M5 (44-52K ) is rather a large one. Outside of the extended warranty that you would have had to purchase as well. Also as a daily the gas consumption would not be in your favor compared to the 535i. The latest HPFP that BMW released a few months back as held up well so far from some of the reports I have read and personal comments from people I know.

The 535i with a JB3 is every bit as fun to drive if not more than the 550i. If you can swing a great deal on the 550i and do not want to mess with anything it is a very solid car with enough ooomph to get you around happily.

TotalCare is another choice that I would inquire about. They should be in the range of $2400 for the coverage. I have heard good things about it.

Do not be put off by the HPFP issues. Just verify the pump has been replaced. BMW has been pretty good about covering the problems related to the HPFP. That is why the market is so low on these cars. BMW bought them back and dealerships are unloading them to the market at a stupid rate.

Don't let the M badge blind you with emotion. You know what is "comfortable" for you payment wise and stick with that plan. If you choose not to go towards an extended warranty then make sure you have a good INDY shop close to you that you can trust.


BWFRYFUY - if you are worried about the M5 then you should stay away IMHO. But if you can hold out the year is almost done and the cars left in the winter inventory will soon need to move. You can hold out for a good bargain on either the 550 or the M5.

Good luck both of you.
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  #10  
Old 12-16-2010, 06:10 PM
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dalekressin dalekressin is offline
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Quote:
Originally Posted by ALPINE_M5 View Post
OP, as edward mentioned that you should leave emotion at the door when making a decision like this. Although we all emotionally love our cars you have to stand back to make sure it make financial sense first and foremost. You cannot expect the warranty to be your shield for all that can go wrong. The M5 would not have been a good deal for you since the delta between an 2008 535i ( 28-32K ) or a 2008 M5 (44-52K ) is rather a large one. Outside of the extended warranty that you would have had to purchase as well. Also as a daily the gas consumption would not be in your favor compared to the 535i. The latest HPFP that BMW released a few months back as held up well so far from some of the reports I have read and personal comments from people I know.

The 535i with a JB3 is every bit as fun to drive if not more than the 550i. If you can swing a great deal on the 550i and do not want to mess with anything it is a very solid car with enough ooomph to get you around happily.

TotalCare is another choice that I would inquire about. They should be in the range of $2400 for the coverage. I have heard good things about it.

Do not be put off by the HPFP issues. Just verify the pump has been replaced. BMW has been pretty good about covering the problems related to the HPFP. That is why the market is so low on these cars. BMW bought them back and dealerships are unloading them to the market at a stupid rate.

Don't let the M badge blind you with emotion. You know what is "comfortable" for you payment wise and stick with that plan. If you choose not to go towards an extended warranty then make sure you have a good INDY shop close to you that you can trust.


BWFRYFUY - if you are worried about the M5 then you should stay away IMHO. But if you can hold out the year is almost done and the cars left in the winter inventory will soon need to move. You can hold out for a good bargain on either the 550 or the M5.

Good luck both of you.
Alpine; that is tremendously knowledgable first post.
What you riding/driving?
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  #11  
Old 12-16-2010, 06:23 PM
ALPINE_M5 ALPINE_M5 is offline
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Quote:
Originally Posted by dalekressin View Post
Alpine; that is tremendously knowledgable first post.
What you riding/driving?
Thanks. Years of experience helps.

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  #12  
Old 12-16-2010, 06:26 PM
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MachtSchnell MachtSchnell is offline
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One thing al of of people don't discuss is the insurance delta. I guess it could be age related I looked at the 550 and 535. I bought the 535 be quad of the cost in insurance. For me was $60 a month difference. JB3 upgrade will be added in next couple of weeks as I will be out of warranty. I prefer to put the $3k for warranty in the bank.
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  #13  
Old 12-16-2010, 06:38 PM
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Kamdog Kamdog is offline
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If you feel you can 'just afford it' then you can't afford it. You can only afford a car that you can comfortably afford, and, when some unexpected large expense comes up, just rant and rave a bit, moan and groan a bit, and go and write the check. If you can't get to the 'go and write the check' part, you can't afford it.

That is why many people lease new BMWs. They can afford the monthly payments, but nothing extra, so, with a new BMW under warrantee and service, there is nothing extra. (Of course, some folks lease as a matter of convenience in driving new cars all the time too.)
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  #14  
Old 12-16-2010, 06:54 PM
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dalekressin dalekressin is offline
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Originally Posted by Kamdog View Post
If you feel you can 'just afford it' then you can't afford it. You can only afford a car that you can comfortably afford, and, when some unexpected large expense comes up, just rant and rave a bit, moan and groan a bit, and go and write the check. If you can't get to the 'go and write the check' part, you can't afford it.

That is why many people lease new BMWs. They can afford the monthly payments, but nothing extra, so, with a new BMW under warrantee and service, there is nothing extra. (Of course, some folks lease as a matter of convenience in driving new cars all the time too.)
Agree +1

For guys that think they want an M5 and they can just afford it or they worry about gas milage it's not a car for them. M5s need to be driven and some track drives are good.
M5 will not be cheap to repais (parts or labor).
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94 530i sold (That was difficult for me)
01 530i >144,500+ miles SOLD
06 330XI winter's especially fun drive (SOLD)
10 M3 Sedan (sweet)
13 Nissan GT-R Black Edition
14 Porsche Cayenne Platinum Diesel

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  #15  
Old 12-31-2010, 03:24 PM
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JT///M3 JT///M3 is offline
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To be perfectly honest, the most expensive BMW I've ever owned was a 2001 740i Sport. The 08 M5 that I current drive has been trouble free and without much issue. Sure it burns gas pretty quickly, but same with any other high displacement V8 or V10. Its all relative. My insurance also only rose $1/month when I added the M5 and removed the 740i and M Coupe. Just letting you know my experience. I think you should stick with an 08+ M5 if you're in the market for one b/c the 06/07 models tend to have more issues with the SMG. Later years have much less issues due to fixes having been implemented. Overall, the E60 M5 has been the best car I've ever owned and it does pretty much every thing well. Cruise around with 4-5 ppl in the car or do daily commuting in comfort with reasonable mpgs (13-20mpg), or a quick romp at the next street light drag (smokes 98% of cars on the road), or a quick 150+mph run the an open fwy. The only thing I wouldn't do with my M5 is take it into the snow (thats what the X5 is for). Otherwise, there is a reason why the M5 is legendary. It does almost everything very very very well.

Oh, did I mention it commands a lot of respect and attention on the road? No one turns their heads or looks twice at a 535i. But the M5, they look, they stare, they give you the thumbs up, and they hardly try to race you...hahhaha
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  #16  
Old 12-31-2010, 03:36 PM
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dalekressin dalekressin is offline
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Great information JT M3
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94 530i sold (That was difficult for me)
01 530i >144,500+ miles SOLD
06 330XI winter's especially fun drive (SOLD)
10 M3 Sedan (sweet)
13 Nissan GT-R Black Edition
14 Porsche Cayenne Platinum Diesel

BMWCCA 4215
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  #17  
Old 01-06-2011, 01:57 PM
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uwhusky uwhusky is offline
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Sorry for my ignorance. What is HPFP?
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  #18  
Old 01-06-2011, 02:51 PM
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Sorry for my ignorance. What is HPFP?
High Pressure Fuel Pump.

It is problematical, and there are enough failures of it that there has been a recall, and an extension of the warranty to about 10 years and 120k (I think) miles.
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