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Thread: BMW E39 M5 - Trying to Buy from Neighbor/Friend

  1. #1
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    Default BMW E39 M5 - Trying to Buy from Neighbor/Friend

    Hi Guys -

    I am making a rare appearance here to ask your opinions. I have neighbors - a fairly old couple that live in my condo building (really nice folks). They own a 2001 BMW E39 M5 (400 hp V8, 6MT, black color, etc., 52,000 miles). I have been oogling this car for years. They don't really drive it anymore, it just sits in the garage and they drive a minivan. I checked KBB online and the car in Good Condition with that mileage from a private seller is worth $17,649 by KBB. I would really like to own this car. What do you think? I thought I would offer them $16,000- and see if it flies.

    Richard EVO (deposed former Sheriff or trackHQ)
    The deposed former Sheriff of trackHQ . . .

    2006 Porsche 997 Carerra Coupe 6-MT - daily driver
    1992 Honda (Acura) NSX 5-MT - classic investment I couldn't resist and occasionally drive
    2004 Honda S2000 AP2 6-MT - my last track day car (FOR SALE or not, depending on how I feel when I fall out of bed tomorrow morning)
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    Nothing ventured, nothing gained.

    How's the 997 working out?
    Last edited by Loose Caboose; 07-23-2016 at 04:45 AM.

  3. #3
    BMW Master bawareca's Avatar
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    Nice car the M5 is, and one of the last "analog" cars. My son's friend paid last year around $15,000 for a salvage title car with over 100k miles and not a great condition. I would say anything under $20 k would be a good deal. Good luck and let us know the outcome.

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    The Real Captain Slow Red_5's Avatar
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    I'm far from an expert on BMWs but KBB doesn't seem to get special car pricing quite right. Based on what bawareca said, I'd print the KBB page and offer them exactly that amount.

    A couple of years ago I helped my elderly neighbor get more money for his Pontiac G8. He was in his late eighties at the time and wasn't driving it much. I told him about how they were holding their valuer really well so when he sold it he asked more than he was going to originally. A guy from New Jersey bought it unseen at asking price - I would have been positive the buyer was a scammer but wasn't the case.

    My point of the story is to buy the car without giving the owner a reason to research the price himself.
    SteveLevin, JJ1 and Loose Caboose like this.
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    Does it come with the parking space? Offer a bit more for 1yr use of the space too. You must be wheel heavy by now.
    bellwilliam and Loose Caboose like this.

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    +++

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    Quote Originally Posted by bawareca View Post
    Nice car the M5 is, and one of the last "analog" cars. My son's friend paid last year around $15,000 for a salvage title car with over 100k miles and not a great condition. I would say anything under $20 k would be a good deal. Good luck and let us know the outcome.

    From the Jul 20, 2016 in Motor Trend You Tube:

    In this episode of Head 2 Head presented by Tire Rack, Detroitís steroidal hammer meets Japanís savvy sword. Many car folks feel the midsize luxury sport performance sedan peaked with the E39 BMW M5.



    https://www.youtube.com/watch?v=3uuy5LVv8pA (go to 18:00 for WSIR comparo of two examples of the current breed).
    Last edited by Loose Caboose; 07-23-2016 at 04:38 PM.

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    Wheel heavy indeed. I have 4 cars now and 2 parking spaces. A nice neighbor lady I go out with occasionally had 2 spaces that face right out to the ocean and she complains that her Corvette gets really dirty from the ocean breezes. So I traded one of my parking spaces in the interior of the garage for her 2 spaces on the ocean. I rent another parking space from two young sisters from Italy who have 2 spaces, but only one car. $60 per month for that space is a bargain. But if I buy the M5, I need another parking space. Hopefully I can just rent it from the neighbors I will try to buy the car from.
    The deposed former Sheriff of trackHQ . . .

    2006 Porsche 997 Carerra Coupe 6-MT - daily driver
    1992 Honda (Acura) NSX 5-MT - classic investment I couldn't resist and occasionally drive
    2004 Honda S2000 AP2 6-MT - my last track day car (FOR SALE or not, depending on how I feel when I fall out of bed tomorrow morning)
    2006 Mitsubishi Lancer Evolution IX MR 6-MT - when I need a backseat, 4-doors, or a real trunk, and still want to haul ass . . .

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    Quote Originally Posted by Loose Caboose View Post
    Nothing ventured, nothing gained.

    How's the 997 working out?
    The 997 is great. It is my daily driver now, and I rarely drive the NSX and S2000. I only use the Evo when my sons visit me every other weekend, and I need a car with a backseat to transport them.

    I like that the 997, like all Porsche 911s, is over-enginereed. The feel of the gearshift lever and clutch pedal are "beefy" -- very firm, and I like it that way. It does have a few electronic gremlins. The clock loses one or two minutes every week, so after a while, the time is wrong. The thermometer for outside temperature is totally wrong - sometimes it will say it is 100* outside, when I know it can't be more than 85*. Occasionally the stereo just doesn't work (this is rare). Both ignition keys have fallen apart and the key transmitter no longer works. But all of these are minor distractions in a great 10-year-old car that is a blast to drive and looks great.
    Loose Caboose likes this.
    The deposed former Sheriff of trackHQ . . .

    2006 Porsche 997 Carerra Coupe 6-MT - daily driver
    1992 Honda (Acura) NSX 5-MT - classic investment I couldn't resist and occasionally drive
    2004 Honda S2000 AP2 6-MT - my last track day car (FOR SALE or not, depending on how I feel when I fall out of bed tomorrow morning)
    2006 Mitsubishi Lancer Evolution IX MR 6-MT - when I need a backseat, 4-doors, or a real trunk, and still want to haul ass . . .

  10. #10
    Senior Member bellwilliam's Avatar
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    E39 M5 is a great driving car. Probably the best sedan made. But it is a money pit. I guarantee you maintenance on it will cost more than your 997, NSX, s2000 and Evo combined.

    Buying e39 m5 is about buying the best maintained one.
    S1 Supermiata - 220whp
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    BMW Master bawareca's Avatar
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    Quote Originally Posted by bellwilliam View Post
    E39 M5 is a great driving car. Probably the best sedan made. But it is a money pit. I guarantee you maintenance on it will cost more than your 997, NSX, s2000 and Evo combined.

    Buying e39 m5 is about buying the best maintained one.
    Other than any other flaw of E39, which are not many and not expensive to fix, the only high maintenance item of the M5 is the variable valve timing system(VANOS) of the S62 engine. It could take a few grand to be repaired professionally, but that is all. The transmission synchros need gentle operator and proper warm-up, but that wouldnt be a problem except someone is very rude with the shifter.
    Now the next generation M5 with the V10 inside is a real money pit and can easily set you back a five figures, but not the E39.
    robburgoon likes this.

  12. #12
    Senior Member KJSCV's Avatar
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    Having owned one for a few years the best I can say is the big parts are fine, the engine, trans suspension etc etc etc is all fairly bullet proof except for any normal wear and tear a car goes through.. as mentioned the Vanos can give you some problems but it's not too hard to fix yourself and if you shop around parts won't kill you...

    That being said it's the most nickel and dime car I've ever owned...lol little stuff breaks, rear window regulators are a common issue and they go out fairly often. if the rear door lock mechanism goes bad which they do you can't open the door from the inside or outside even if the car is unlocked... which brings me to interior door handles break at a somewhat alarming rate...lol those are just examples but you get the idea. The big expensive stuff is great it's the little stuff that gets annoying

    Great car, ultimate road cruiser, the kind of car you love to take on long trips but they can keep you busy in the evenings
    bawareca likes this.

  13. #13
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    ^^^ Thanks for the advice. I am not a DIYer, so I would need to find a competent BMW mechanic to fix all the little problems.
    The deposed former Sheriff of trackHQ . . .

    2006 Porsche 997 Carerra Coupe 6-MT - daily driver
    1992 Honda (Acura) NSX 5-MT - classic investment I couldn't resist and occasionally drive
    2004 Honda S2000 AP2 6-MT - my last track day car (FOR SALE or not, depending on how I feel when I fall out of bed tomorrow morning)
    2006 Mitsubishi Lancer Evolution IX MR 6-MT - when I need a backseat, 4-doors, or a real trunk, and still want to haul ass . . .

  14. #14
    Master of Disaster SteveLevin's Avatar
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    I'm not a BMW expert, but I thought the VANOS system (as mentioned, the one big ticket item that can be an issue with these) was pretty vulnerable to just sitting?

    Aside from that, it seems like a great car; I always liked the looks.

    Steve

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