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M5 Value

Discussion in 'Other German' started by PCH, Jun 3, 2004.

  1. PCH

    PCH F1 Rookie

    Apr 7, 2004
    2,978
    #1 PCH, Jun 3, 2004
    I am looking for a daily driver and came across a very nice '02 Silver/Blk M5. It has all available options, NAV, M Stereo, extended embossed solid color leather, sport interior/aluminum trim, sunshades. The body and interior is immaculate. One local owner and the carfax is clear. The kicker....55K miles and out of warranty. The car is being offered at 50K. However, the dealers and brokers I have spoken with value it at approx. 40K retail. Would appreciate any comments from experienced M owners with regard to ownership and real value vs. asking prices. And yes, I will definately have a PPI done if I move forward on the car.
     

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  2. Auraraptor

    Auraraptor F1 World Champ
    Lifetime Rossa Owner

    Sep 25, 2002
    11,988
    MO
    #2 Auraraptor, Jun 4, 2004
    At that price, I do not see why it does not come with BMW's extended pre-owned warrenty.
     
  3. Wildwarrior

    Wildwarrior Formula Junior

    Mar 26, 2003
    280
    PA
    Full Name:
    Glen Winters
    #3 Wildwarrior, Jun 5, 2004
    I would look for a lower mile car , $50,000 sounds very high to me,they are great cars and make a wonderfull daily driver,I wish I hadn't sold mine.Auto Trader .Com generally has a ton of them all over the country.I only had 14000 miles on my 2000 when I sold her to a gentlemen in LA for $49,000 in feb of 03,just to many on the market.As far as options go the alum trim is less money and in my opinion not near as classy as the wood, and sun shades are also standard equipment.Hope this helps, you will love the M5 she is German engineering at its finest.
     
  4. Skelter

    Skelter Rookie

    Nov 1, 2003
    48
    #4 Skelter, Jun 5, 2004
  5. Agent Smith

    Agent Smith Formula 3

    Apr 20, 2002
    1,509
    #5 Agent Smith, Jun 5, 2004
    $50k is high. I've seen them on dealer lots with similar or less miles on them in the $40k's. Haven't owned one - but I sure love to window shop :)
     

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  6. Paul Vincent

    Paul Vincent Formula Junior

    Apr 3, 2004
    474
    #6 Paul Vincent, Jun 5, 2004
    No warranty = no purchase IMHO.
     
  7. PCH

    PCH F1 Rookie

    Apr 7, 2004
    2,978
    #7 PCH, Jun 5, 2004
    I agree. However, I still haven't seen a '02 for under 50K anywhere.
     
  8. PCH

    PCH F1 Rookie

    Apr 7, 2004
    2,978
    #8 PCH, Jun 5, 2004
    The factory warranty is 50K or 4yrs. And yes, you can buy an extended warranty if purchasing the car through an authorized dealer.
     
  9. Wildwarrior

    Wildwarrior Formula Junior

    Mar 26, 2003
    280
    PA
    Full Name:
    Glen Winters
    #9 Wildwarrior, Jun 6, 2004

    I just looked up all 04 M5 dealer auction sales, the 02s are still holding their own.Average price was $53,000 with ave miles at 20,000.The 40,000 mile and up cars are in the mid $40,000 range.So you shouldn't see any quality 02 M5s for under 50K,I was quite supprised!
     

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